How To Get Financial Aid

Transcription

1 Senior Financial Aid Presentation January 12 th, 2015

2 Objectives To give an overview of the financial aid process To identify sources to pay for post-secondary education To highlight scholarship searches and resources

3 Financing Your Future What does college cost? How do I apply for financial aid? What types of aid are available? Where can I get more information?

4 Cost of Attendance (COA) The cost of attending an institution includes more than just tuition and fees. Also included are: Room and Board Books and Supplies Transportation Personal Expenses

5 How will I pay for it? Family support Savings Financial Aid Summer Jobs/Work

6 What is financial aid? Merit-based aid (Scholarships) From within the college/university From private/public sources outside the college/university Grants Loans Work Study -- Employment Opportunities

7 How do I apply for financial aid? Obtain a Federal Personal Identification Number (PIN) Complete the Free Application for Federal Student Aid (FAFSA). Never pay a fee to complete this. Meet application deadlines Apply for scholarships both within and outside of the college/university Contact your financial aid administrator if you have special circumstances

8 PIN Registration Both parent and student need to apply for a PIN Number. This is the electronic signature that allows you to submit the FAFSA. Apply for PIN online NOW! Keep track of your PIN number--you will use it each year to access your FAFSA.

9 FAFSA on the Web

10 Expected Family Contribution (EFC) Once your parents and you put in all your financial information, the FAFSA gives you ONE number. EFC = Expected Family Contribution ($$)

11 How does a school determine my financial aid award? Cost of Attendance (COA) - Expected Family Contribution (EFC) = Eligibility for need-based financial aid

12 Financial Aid Examples School A School B School C COA $30,500 EFC - 5,000 NEED $25,500 $15,500 $4,500-5,000-5,000 $ 10,500 $0 Your Expected Family Contribution (EFC) remains the same!

13 Some kinds of financial aid you must repay, like student loans The average student loan debt after four years is about $21,000 Make wise decisions about student loans and borrowing!

14 Scholarship Searching Family Connection RHS Website RHS Career Center Community, church, civic, and business organizations Employers Colleges and universities

15 RHS Local Senior Scholarship Online Application-class of 2015 This is already posted on RHS website Go to >guidance >post secondary planning>scholarship & financial aid information>click on RHS Local Scholarship Application 2015 Due date is Thursday, April 1 st, 2015 Some require certain majors or financial need Flint Hills requires an additional essay Some of the local scholarships from 2015 include: Anchor Bank, Apple Valley Ford, Dakota Electric, Fairview Ridges, First State Bank of Rosemount (Business), Flint Hills, Food & Nutrition, Kopp and Midwest Vending

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17 Additional Local Scholarships The scholarships listed below were also offered in 2014, but you must complete a separate application for each scholarship. These are NOT included in the RHS Local Senior Scholarship Online Application Cedar Park, Diamond Path Elementary, RHS Men s Soccer, RHS Women s Soccer, Rosemount Elementary, Rosemount Middle, Scott Highlands (2), Shannon Park (2) and Dakota County Technical College Watch for announcements regarding the application process for each of these individual scholarships

18 Selective Service Registration Male students years old must register with Selective Service FAFSA on the Web interface with Selective Service system verifies students has registered If not verified, student won t be eligible until registered

19 What should I do and when? Apply for scholarships now and throughout college Apply for your PIN number NOW FAFSA-Fill out AFTER January 1, 2015 and each year you are in college Reciprocity-Late Spring (WI, ND and SD) Free Financial Aid Book to take home today You may view this PowerPoint presentation online (go to RHS guidance main page>go to classroom presentations)

20 GOOD LUCK