Financial Aid Workshop

2016-2017Award Year

Financial Aid Formula

Cost of Attendance-- Expected Family Contribution (EFC)________________________= FN =, or not =, FA

Please visit: www.collegeboard.com/pay

Definition of Financial NeedCost of Attending College (COA)

College tuition, fees, books, housing, meals, transportation and other related costs associated with attending school.

Expected Family Contribution (EFC) The amount of money the government believes you and your family can reasonably contribute toward your education.

Your EFC determines the types and amounts of Federal and State aid you are eligible for.

Financial Need – Types of Aid

Scholarships Grants Loans Work Study

$25,000 (total cost for living on campus)

$5,000 remains the same at all colleges

$20,000 (aid packages can vary by college)

Financial Need = Cost of Attending School minus Expected Family Contribution

Comparing College Costs

UC

$13,200

CSU

$7,077

Independent

$10,000 +

CommunityCollege

$46 per unit

$552 for 12 units

Yearly Tuition Costs

Additional Costs of Attendance include:

College fees: $1000 (student fees, parking, etc. )

Books: $2000 (both semesters)Room and Board: $12,000 – $15, 500

per yearPersonal Expenses: $3000

Cost of Attendance- Financial Aid_______________________= PLUS eligibility 6.84%

PLUS Loans

Financial Aid Packageswww.fafsa.gov

Grants Work Study Loans Scholarships

“Gift Aid” usually based on financial need

Jobs to help pay for school

Money on loan which must be repaid with interest after school attendance is stopped

Free Money based on specific criteria

Pell Grant Chafee

Grant Board of

Governors (BOG)

Cal Grant

Employment at the Campus

Not necessarily need based.

Subsidized Unsubsidiz

ed

On Campus

Off Campus

“Raising all of them was hard enough, but when she heard that she had to fill out financial aid forms for all of them. . .”

Start the 2016-2017 FAFSA

Schools to receive information◦ Federal School Codes - List up to 10 schools to receive

your information. Write school code (codes can be obtained from the www.fafsa.gov website or see your school counselor).

List most expensive school first.

List a California school in the first three

For each, indicate the appropriate housing plan.1. On Campus2. With parents3. Off Campus

1st College

Federal School Code

Housing Plan on campus with parent off campus

Completing the FAFSAStudent Information – Section 1

Student Dependency – Section 2

1993

Parent Information Section 3

Parent Information Section 3

Parent Information – Section 3

Supplemental Information PARENT DEMOGRAPHIC INFORMATION

Parent’s Marital Status: Parent’s Email Address:

When did your parents get married, separated or divorced?

Have your parents lived in California for the past 5 years? Yes or NO

Your Parent’s number of family members in household 2016-2017:

How many people in your parents’ household will be college students between July 1, 2016 and June 30, 2017?

Key FAFSA DatesDecember 31st -- Income

Signing -- Assets

2016-2017 Award Year

www.fafsa.gov

Special CircumstancesMedical/DentalElementary/Secondary Tuition – private schools

Disasters/Crisis (loss of employment, loss of home, divorce, etc.)

Undocumented Students – Rights and Responsibilities (AB 540)

Undocumented students: Cannot be denied admission based on immigration status Are not required to show an ID or Social Security card for

admission Are not required to show proof of legal US Residency for

admission if attended US High School for past 3 years and graduate from US High School

Special Application is required at UC, CSU and Community Colleges – contact the Admissions Office at these colleges and request the AB 540 Application

Students will receive in-state tuition Students do not qualify for financial aid; the

family must provide for the cost of attendance

AB131 – Dream ActAllows student who meet AB 540

criteria to receive Cal GrantsFor Cal Grant “Entitlement”

candidates only◦GPA of 3.0 for Cal Grant A (unweighted) ◦GPA of 2.0 for Cal Grant B (unweighted)◦Online application will be opened January

2015 to gather FAFSA-like information◦Apply on line at dream.ca.gov

Middle Class ScholarshipCalifornia – UC and CSU – FAFSA

Application- under $100,000 – up to 40%- $100,001 - $150,000 – at least 10%- no set amounts – being phased in over 4 years- how many apply, stage budget amountOther colleges – check with each

PaperworkAdmissionsScholarshipsFinancial AidHousingSpecial Program

Deadlines vary

Certificate of MailingU.S. Postal Service CERTIFICATE OF MAILINGMAY BE USED FOR DOMESTIC AND INTERNATIONAL MAIL. DOES NOT PROVIDE FOR INSURANCE – POSTMASTER________________________________________________________________Received From:

_________________________________________________________________________One piece of ordinary mail addressed to:

Affix fee here in stamps or meter postage and postmark. Inquire of Postmaster for current fee.

Next steps Enter the information from this worksheet

www.fafsa.gov

No later than March 2, but at your earliest possible time. Cal Grant awards are given at intervals within the time period of January 1 through March 2.

CAL Grant GPA

The Sweetwater Union High School District will automatically send your Cal -Grant GPA to the California Student Aid Commission.

Next StepsIndependent /Private CollegesIf you are applying to independent/private colleges, inquire if you will need to complete the following forms - CSS Financial Aid Profile- Institutional Financial Aid formScholarship ApplicationsOther Applications

Register and apply at www.collegeboard.com (worksheet, and on-line help available).

Application Flow ChartStudent

FAFSAFederal Central

Processing System

ESARRoster SAR

College

AID PACKAGE

Disbursement System

SAR

Student

Scholarships – A kind of “gift aid” that recognizes talent in academics, music, drama, athletics, leadership, service, etc. May or may not be based on financial aid.

Scholarship PortfolioTranscriptResume2 letters of recommendationPersonal Statement/Essay Responses

• Shake the Family Tree• Employers• Organizations• Religious Groups• Local Sources• Community Service

Groups• Cultural Clubs• Relatives

fastweb.comcollegeanswer.com

AVOID SCAMS – “Guarantees”, “Secrets”, Trusted Advisors – they charge for what you can do for free!

Keep in mind•Final Decision – each college•Write a letter to EACH Financial Aid Office•Student’s name and ID on everything•Keep a copy of everything•Keep in touch with each office at college – Financial Aid, Admissions, Housing, Others•Deadlines•Re-apply each year

Changes for 2017-2018Application cycle begins October 1, 2016 (rather than January 1, 2017

Income data based on “prior-prior year” from 2017-2018, use 2015 tax data

This is in early stages of development ………Keep in touch with FAO for updates

Cash for College Workshops Please come and get FREE individual assistance with the following:

• $ Free Application for Federal Student Aid (FAFSA)• $1,000 Scholarship Opportunity!

Free Support to submit FAFSA on-line

February 6, 2016

9:00 – 12 noon

Montgomery High3250 Palm AveSan Diego, CA92154

February 20, 2016

9:00 – 12 noon

Chula Vista High820 Fourth AveChula Vista, CA 91910

February 27, 2016

9:00 – 12 noon

Eastlake High1120 Eastlake PkwyChula Vista, CA 91915

Thinking ahead – Class of 2017San Diego National College Fair

2016Tuesday, April 20, 2016

9:00 a.m. to 12 noon6:00 p.m. to 8:30 p.m.

San Diego Convention Center

QUESTIONS…Thank you for attending