Applying for Financial Aid

1
Applying for Financial Aid

• Using the Fund Your Future Workbook from EdFund
  and CSAC 2009-2010
• PowerPoint can be found on Career Center website
  or AVID website? http//revavid12.rev.redlandsusd.
  net

2
College- It Pays!

• In 1978, college graduates earned 19 more in
  their lifetime than high school graduates.
• Now, college graduates earn 73 (up to 1 million
  dollars) more than high school students
• As a college graduate, you have a higher chance
  at getting a higher paying job, steadier
  employment, greater career opportunities and a
  better chance at liking your career

3
How do I pay for college?

• Apply through FAFSA (Free Application for Federal
  Student Aid)
• Apply free online at www.fafsa.ed.gov
• Click here ? www.fafsa.ed.gov (after Jan.1, 2009)
• If you are asked to pay for the submission of
  your application, you are on the wrong website-
  It is a Scam!

4
Types of Financial Awards

• Grants (p.12,20)- free money based on financial
  need
• Scholarships (p.13,21)- free money based on merit
  (i.e., test scores, grades, athletic, musical or
  special talent)
• Loans- (p. 12,20) Unsubsidized vs. Subsidized
• Work Study (p.13,22)- earn money through your
  college on or off campus
• Other- (pg.25) AmeriCorps, Peace Corps, Teach
  for America, Military, National Merit Scholarship
  or certain career fields (health care, education,
  law)

5
Cal Grants (pgs.12-18)

• Aid covers books, tuition, rent and food

• If you attend a community college, you will
  receive a fee waiver and this money will be held
  in reserve until you transfer to a four-year
  university.
• Cal Grant Cs will help cover the cost of
  vocational school? 2,592 for tuition and fees
  and 576 for books.

6
Federal Grants (p.21)

• Pell Grants- need-based, from 890 to 4,731
• EOP- need-based, up to 2,000 (Pell eligible)
• SMART Grant - majoring in sciences, math,
  technology, engineering or certain foreign
  languages (up to 4,000 for jr./sr. yr- Pell
  eligible)
• Academic Competitiveness- need-based (Pell),
  completed a rigorous curriculum (A-G),
• 750 (1st year) and up to 1,300 (2nd year)
• Chafee Grant- Foster Youth up to 5,000
  (application available at www.chafee.csac.ca.gov)
• Child Development- 1,000(2-yr) 2,000 (4-yr)

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How do You Qualify? (p.3,5)

• Have a high school diploma or a GED
• Must be a U.S. Citizen or eligible non-citizen
  with a valid Social Security number
• Have at least a 2.0 GPA or higher
• 2.0 for Cal Grant B
• 3.0 for Cal Grant A
• Financial Need (for most financial aid awards)
• Enroll in either a 2 or 4-year college or
  vocational school.
• Enroll at least half the time- 6 semester units
  or its equivalent.
• Register for the Selective Service (males only)

8
How do You Apply? (pgs.6-9)

• Collect financial information
• Tax returns for 2008, W-2 forms, bank statements,
  etc.
• SSN- student and parent
• Get a pin for you and your parent
• Complete rough draft using paper application
• Complete final draft online (www.fafsa.ed.gov)
• Apply early! Start January 1st it increases
  your chances. DEADLINE is MARCH 2, 2009
• Look into Federal Student Loans

9
Double Check!!

• Read all instructions
• Make sure your name matches your name on your SS
  card
• Be sure to type in CA if youre a resident
• Dont skip the drug question
• Be sure to list at least one qualifying
  California college to be considered for a Cal
  Grant
• Private California college comes first
• Print a copy of your FAFSA application
• Use your PIN to sign your application and check
  on the status of your FAFSA
• Click here to check your status?
  (www.nslds.ed.gov)

10
Problems? FAFSA Hotline

• For questions on the application or eligibility
  requirements, call
• 1-800-4-FED-AID (1-800-433-3243)
• www.studentaid.ed.gov

11
Financial Aid Workshop

• Thursday, January 22nd, and Wednesday, February
  18, 2009
• 700 to 830 pm
• Wildcat Café
• Gene Edelbach, formerly from La Sierra
  Universitys Financial Aid Office
• Contact Mrs. Cullen in the Career Center at ext.
  32106 or 32117

12
Basic Equation of Need 1(CSU)
Cost of Attendance
COA 18,116
EFC 864
Students Financial Need
Need 17,252
The amount of Financial aid the Financial Aid
Office will try to find (called a PACKAGE).
Examples of sample packages provided by Doris
Keller from CSAC
13
Sample Financial Aid Pkg. 1(CSU)
Financial Aid Package
Financial Need
17,252
Pell Grant 4,731
12,521
Cal Grant 3,048
9,473
Work Study 2,600
6,873
Loan 4,500
2,373
Unmet Need
2,373
14
Analysis of Sample Pkg. 1(CSU)
Grants 7,779
Work 2,600
Loans 4,500
Unmet 2,373
15
Analysis of Sample Pkg. 1(CSU- Revised)
Grants 7,779
Work 2,600
Loans 4,500
Scholarships 2,600
Outside Scholarships Church
600 Internet 2,000 2,600
Unmet need is now satisfied by scholarship
16
Basic Equation of Need(Private School)
Cost of Attendance
COA 32,276
EFC 864
Students Financial Need
Need 31,412
This is the amount of Financial aid that the
Financial Aid Office will try to find (called a
PACKAGE).
17
Sample Financial Aid Pkg. 2(Private School)
Financial Aid Package
Financial Need
31,412
Pell Grant 4,731
26,681
Cal Grant 9,708
16,973
Work Study 2,600
14,373
Campus Grant 6,500
7,873
Loan 5,500
2,373
Unmet Need
2,373
18
Analysis of Sample Pkg. 2(Private School)
Grants 20,939
Work 2,600
Loan 5,500
Unmet 2,373
19
Analysis of Sample Pkg. 2(revised- Private
School)
Grants 20,939
Work 2,600
Loan 5,500
Unmet 2,373
Outside Scholarships Church
600 Internet 2,000 2,600
Unmet need is now satisfied by scholarship
20
Live at home
Rent movies
Ride a bicycle
Use public transportation
Learn to Cook
864 EFC ??
(96 Monthly)
Savings
No pets
Shop at thrift stores
Toss a frisbee
Buy used books
Work during school breaks
21
Undocumented Students

• If student is undocumented, contact MALDEF,
  Mexican American Legal Defense Fund, for advice
  and assistance.
• [phone] or www.maldef.org

22
Apply, Dont Disqualify

• Dont Miss Deadlines
• Dont Pre-guess Computers
• Dont Assume Anything
• Create a Safety Net