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Student Financial Aid

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An award, based on achievement, characteristic and/or financial need, that is ... For AY'0910, the range of awards for full-time student is $976-$5350 ... – PowerPoint PPT presentation

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Title: Student Financial Aid


1
Student Financial Aid
  • Joyce Farmer
  • Director of Financial Aid
  • Joyce.farmer_at_desales.edu
  • 610-282-1100 ext 1208

2
Objectives
  • Help You Understand The Basics Of Financial Aid
  • Application Process
  • Financial Aid Awarding Time Line
  • Types of Aid Available
  • Financial Aid Packaging

3
  • Must apply for a Personal Identification Number
    (PIN) first at www.pin.ed.gov
  • Student and parent must each have a PIN
  • After January 1st, complete your FAFSA
    www.fafsa.ed.gov

4
  • Institutional Application
  • Filing deadlines vary from college to college
  • Can be a trigger for packaging
  • Assists in verification of enrollment
  • Establishes financial resources available to
    students

5
Need Analysis
  • Expected Family Contribution (EFC)
  • What the family can contribute towards a childs
    educational expenses based on income, assets,
    number in household and number in college
  • Cost of Attendance
  • Tuition, fees, room, board, books, miscellaneous
    and personal expenses for 1 academic year
  • Cost of Attendance EFC NEED

6
Types Of Financial Aid
  • Grants and Scholarships
  • Loans
  • Student Employment

7
Grant or Scholarship
  • An award, based on achievement, characteristic
    and/or financial need, that is not expected to be
    repaid.

8
Sources Of Grants and Scholarships
  • University Grant/Scholarship Programs
  • Federal Programs
  • State Programs
  • Private Scholarships

9
Federal Programs
  • PELL
  • Awards based on EFC
  • For AY0910, the range of awards for full-time
    student is 976-5350
  • Pell Eligible students may also qualify for the
    ACG and SMART Grant. Award amounts vary based on
    year in undergraduate program
  • SEOG-Supplemental Educational Opportunity Grant
  • Allocated by school
  • Amounts will vary
  • TEACH Grants
  • Grant/Loan program for students who plan to being
    a career in teaching

10
State Programs
  • PHEAA Grant
  • Awards based on EFC
  • For AY0809, the range of awards for a full-time
    student was 964-4120

11
Private Scholarships
  • Where to look
  • College Website Scholarship search
  • High School Guidance Office/College Financial Aid
    Office
  • Employers

12
Student Loans
  • An award made to a student or parent that has to
    be repaid.
  • Federal Stafford Loans
  • Perkins/HHS Loans
  • Federal Plus Loans
  • Private Alternative Loans

13
Federal Stafford Loans
  • Subsidized/Unsubsidized
  • Additional Unsubsidized
  • Eligibility
  • Fixed interest rates

14
PLUS Loans
  • For parents of dependent students
  • Cost of education minus aid received
  • Fixed interest rates

15
Alternative Loans
  • For dependent and independent students
  • Cost of education minus aid received
  • Variable interest rates
  • Lack benefits of federal programs

16
Student Employment
  • Students work part-time
  • Earn money to cover educational expenses
  • Federal work study is a campus-based program
    subsidized by the federal government

17
FINANCIAL AID PACKAGING -Example 1
18
FINANCIAL AID PACKAGING -Example 2
19
Questions?
  • Joyce Farmer
  • Director of Financial Aid

Joyce.farmer_at_desales.edu 610-282-1100 ext 1208
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