The Evergreen State College Financial Aid

1
The Evergreen State CollegeFinancial Aid
2
Financial Aid Process at Evergreen
Read the scholarship brochure before January 1st
each year. The Evergreen scholarship brochure is
available in October each year and the deadline
to apply is February 1st each year. Students
need to start thinking about scholarships before
they complete a FAFSA. See more information at
www.evergreen.edu/scholarships
Complete the FAFSA as soon after January 1st as
possible every year. FAFSA accepts estimated tax
information. After you have filed taxes, go back
online and update the FAFSA information.
Evergreens priority deadline is March 15th each
year. This means that a student must submit the
FAFSA to the federal processor by February 15th
each year to allow them time to send Evergreen
the information by March 15th.
Complete and return the Evergreen Data Sheet.
EACH YEAR this form is required before a student
can receive any of the Financial Aid offered.
Students should notify the Financial Aid Office
of any outside scholarship awards as soon as they
receive the award letter from the scholarship
agency.
3
New students whose FAFSA was processed by the
priority deadline will receive their award letter
during the 2nd or 3rd week of April. They should
read the award letter and call Financial Aid with
any questions.
If a student wants their parent to call on their
behalf they must complete a FERPA release form
and return it to our office. We cannot speak to
parents about a students award without this
form. www.evergreen.edu/forms.htmferpa
You can accept your awards by signing into your
my.evergreen.edu account. You cannot accept your
loans online. If you want to receive your loan
funds you must complete a Loan Request Form and
send it to our office for processing. If you wish
to decline, please contact us.
First-time borrowers must complete Evergreens
Online Loan Entrance Counseling before their
Stafford/PLUS loans can be certified with a
lender. www.evergreen.edu/financialaid
First-time borrowers and parents are required to
complete online Master Promissory Notes with the
lenders they choose before the lender will send
money to the school. www.evergreen.edu/financialai
d
Students sign the Master Promissory Note and Loan
Entrance Counseling once while they are at
Evergreen. Parents sign a new Master Promissory
Note each year.
4
Six Financial Aid Acronyms That Will Drive You
Crazy

• FAFSA Free Application for Federal Student Aid.
  If you want Financial Aid you must file a FAFSA
  EVERY YEAR.
• EFC Estimated Family Contribution. This is the
  calculated amount of money that the Federal
  Government says you and/or your family can afford
  to pay for school. It does not mean that you have
  this money but it does mean, in most cases, you
  will receive a loan offer for at least this
  amount of money.

5
Six Financial Aid Acronyms That Will Drive You
Crazy

• 3. COA Cost of Attendance. Every school has a
  budget that makes up the Cost of Attendance for
  one year of tuition and living. The Cost of
  Attendance includes tuition, books, supplies,
  room, board, transportation, and personal funds.
  
• 4. FFELP Federal Family Education Loan
  Program. This is the umbrella of loan products
  that are offered to students and their parents
  via the FAFSA application process. It includes
  Subsidized Stafford Loans, Unsubsidized Stafford
  Loans, and PLUS Loans.
• 5. PLUS Parent Loan Undergraduate Student.
  These are loans that fall under the FFELP
  umbrella but they are offered to parents for
  costs associated with their childs college
  education.

6
6 - SAR

• Student Aid Report
• This is the report that FAFSA will send you once
  they have processed your FAFSA application. This
  report will tell you if you are Pell Grant
  eligible and it will tell you your EFC.

7
Cost of Attendance (COA) Non-Resident Students

• Total Cost Of Attendance 0708 27,078Categorized
  As
• Tuition per year 14,925
• Books/Supplies 900
• Room/Board 7,842
• Transportation 1,044
• Miscellaneous 1,890
• Fees (based on 16 credits) 477

8
Cost of Attendance (COA) Resident Students

• Total Cost Of Attendance 0708 16,743Categorized
  As
• Tuition per year 4,590
• Books/Supplies 900
• Room/Board 7,842
• Transportation 1,044
• Miscellaneous 1,890
• Fees (based on 16 credits) 477

9
What Types of Aid Does FAFSA Give Me Access To?

• Depending on your EFC, you could have access to
  the following types of aid by completing a FAFSA
• Pell Grant.
• Supplemental Education Opportunity Grant (SEOG).
• The National Science and Mathematics Access to
  Retain Talent Grant (SMART Grant) and Academic
  Competitive (ACG) Grant
• State Need Grant (SNG) if you are a Washington
  resident attending a Washington college.
• Federal, State or University Work Study.
• Tuition waivers and need-based grants if your
  school has funds for them.
• Stafford Loans, both Subsidized and Unsubsidized.
• PLUS Loans for Parents.
• Some scholarships require a FAFSA.

10
Maximum Amounts for Subsidized Stafford Loans and
Unsubsidized Stafford Loans.

• If a student is considered a dependent of their
  parents this is the maximum amount of Stafford
  Loan the student will be eligible for each year
  they are in school.
• Freshman Year 3500
• Sophomore Year 4,500
• Junior Year 5,500
• Senior Year 5,500

• If a student is independent, in other words they
  are over 24 years old, this is the maximum amount
  of Stafford Loan the student will be eligible for
  each year they are in school.
• Freshman Year 7,500
• Sophomore Year 8,500
• Junior Year 10,500
• Senior Year 10,500

11
Example of How EFC and COA Work Together.

• COA 15,000 / year
• EFC 5,000 / year
• Students Need 10,000 / year
• This means that the college will try and meet the
  students need (10,000) with Need-Based aid.
  Need-Based aid includes grants, tuition
  waivers, scholarships, work study, Subsidized
  Stafford Loans, and Perkins Loans.
• What about the EFC? In most cases, the EFC will
  either be offered as a PLUS loan for the parent
  or an Unsubsidized Stafford Loan for the student.

12
Example of a Resident Freshman Financial Aid
Offer.
COA 16,743 EFC 0 Need 16,743
Pell Grant 4,310 (maximum available with 0 EFC)
State Need Grant 4,188
Supplemental Education Opportunity Grant 300
Federal Work Study 3,200
Total Awards 16,743
Subsidized Stafford Loan 3,500
PLUS Loan for Parent 1245
Mission Accomplished! This student can afford
to attend college.
13
Example Dependent Freshman with 5,000 EFC
COA 16,743 EFC 5,000 Need 11,743
Subsidized Stafford Loan 3,500
Washington Tuition Waiver 4,590
PLUS Loan for Parent 8,653
Total Awards 16,743
What can this family do to lower the loan debt
presented here?
14
Ideas To Lower Loan Debt
Keep in mind that these strategies have a better
chance of working if you start mapping them out
and applying EARLY!

• Apply for Scholarships, all of them that you find
  out about.

Scholarship Sources Evergreen, Community
Organizations, Chamber of Commerce, Churches,
Veterans Associations if Parent Served in
Military and scholarship databases on the web.
It takes work but it is worth it!

• Ask the college Admissions Office about Merit
  Based Tuition Waivers.

• If you plan on living on-campus ask the Housing
  Department at the college you plan to
  attend if they offer free or discounted rent to
  Resident Assistants.

• Contact the Student Employment Office on your
  campus and find out aboutjob opportunities
  on-campus and off-campus for students. On-campus
  employment is a great way to make money. The
  employers want you to be successful in school
  which means they try to provide a flexible
  schedule.

15
Frequently Asked Questions

• What if your parents have a less than stellar
  credit history and you think they wont qualify
  for the PLUS loan?
• Answer If a parent is denied a PLUS loan they
  need to provide the Financial Aid Office with a
  copy of a denial letter from the lender. Once
  this is received the Financial Aid Office can
  award more Stafford Loan to the student. The
  amount of the Stafford Loan is dependent on the
  students class level.
• What do you do to prepare for a scholarship?
  Answer That depends on what the scholarship
  application is asking for. Sometimes you just
  fill out an application, sometimes you attach a
  copy of your high school transcript, sometimes
  you need to write an essay. But remember
  whatever you need to do make sure it is correct
  and there arent any spelling errors in your
  application. There are lots of great resources
  on-campus to check your scholarship applications
  Writing Center, Faculty and Staff, Academic
  Advising, and KEY.

16
Frequently Asked Questions

• How many scholarships can I receive? Answer You
  can receive scholarship funds up to the Cost of
  Attendance (COA) for the institution you are
  going to attend. You cannot receive scholarship
  funds above and beyond the Cost of Attendance.
• Can you turn in your FAFSA before you file taxes
  for the year? Answer Yes, it is fine to
  estimate your taxes on the FAFSA. In fact it is
  a good idea if you want to be an on time early
  applicant.
• What are the interest rates on Stafford Loans and
  PLUS Loans? Answer The current interest rate
  for Stafford loans disbursed this year is fixed
  at 6.8. PLUS loans are currently fixed at 8.5.

17
Frequently Asked Questions

• When can I stop filling in my parents income
  information on the FAFSA? Answer Rule of thumb
  is the year you turn 24 you wont have to use
  your parents tax information. The question on
  the FAFSA asks Were you born before January 1 of
  a certain year. If your answer is yes you wont
  have to use your parents tax information.

18
Frequently Asked Questions

• What if I am under 24 but am not dependent on my
  parents for any financial support? Answer You
  are considered a dependent of your parents
  until you are 24 even if you dont live with them
  or receive any money from them. There are some
  instances where a student is under 24 and
  considered an independent student. The following
  circumstances would make a student independent
  before they turn 24.

• If you are married.
• If you are supporting a child.
• If you are a veteran.
• If you are considered a Ward of the Court.

If you think you might qualify to be independent
but dont fit into any of the above situations
you can always contact the Financial Aid Office
to ask questions about your situation.
19
Financial Aid and Payment Resources at Evergreen

• Financial Aid Office 867-6205 or visit our
  website at www.evergreen.edu/financialaid
• Student Employment 867-5520
• Student Accounts 867-6447
• Cashier 867-6445

20
Resources

• Nela Center for Student Success!
  www.centerforstudentsuccess.org The Center for
  Student Success provides information and
  assistance on college admissions, financial aid
  and scholarship search resources and is
  specifically tailored to serve students in the
  Pacific Northwest.
• Washington State Higher Education Coordinating
  Board. Check this site out to see if you qualify
  for any of their state funded grants
  hecbwww.hecb.wa.gov
• College Websites. The website of the college you
  plan on attending. Make sure you read all of the
  information at their Financial Aid site and their
  Scholarship site.
• Free help completing the FAFSA
  www.studentaid.ed.gov/completefafsa or by
  phone1-800-4-FED-AID

21
Resources

• Washington Financial Aid Association (WFAA)
  www.wfaa.orgWFAA is a professional, membership
  organization of individuals whose aim is to
  promote higher education through the
  availability, support and administration of
  student financial assistance programs.
• The Smart Guide To Financial Aid
  www.finaid.orgVisit this page to get an estimate
  of your EFC (which will help you determine your
  eligibility for federal student aid), or conduct
  a free scholarship search.
• College Board www.collegeboard.com Free help for
  parents and students with questions about
  scholarships, schools, etc.

22
Resources

• fedmoney.org "FedMoney.org is the most
  comprehensive FREE full-text online resource on
  all U.S. federal government student financial aid
  programs. Here you will find detailed and
  up-to-date information about (1) who can apply,
  (2) how to apply, (3) full contact info, and much
  more... for over 130 government loans and grants
  (scholarships, fellowships, traineeships) related
  to education!
• College Planning Network (CPN) is a
  Seattle-based, nonprofit organization, assisting
  people seeking educational opportunities, and
  serving the Pacific Northwest. CPN's free
  scholarship search was designed as a gift to CPN
  by Microsoft. www.collegeplan.org
• College Net Find a college find a scholarship,
  find other college resources. www.collegenet.org

23
We Are Done!