Student Financial Aid

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Student Financial Aid

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

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Objectives

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

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• 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

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• 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

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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

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Types Of Financial Aid

• Grants and Scholarships
• Loans
• Student Employment

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Grant or Scholarship

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

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Sources Of Grants and Scholarships

• University Grant/Scholarship Programs
• Federal Programs
• State Programs
• Private Scholarships

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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

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State Programs

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

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Private Scholarships

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

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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

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Federal Stafford Loans

• Subsidized/Unsubsidized
• Additional Unsubsidized
• Eligibility
• Fixed interest rates

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PLUS Loans

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

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Alternative Loans

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

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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

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FINANCIAL AID PACKAGING -Example 1
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FINANCIAL AID PACKAGING -Example 2
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Questions?

• Joyce Farmer
• Director of Financial Aid

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