Charting the Course to College Financial Aid Overview

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Charting the Course to CollegeFinancial Aid
Overview

• July 7, 2006

Presented by Martin Vaughn Associate Director of
Admissions Financial Aid
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1. What application materials are needed to
apply for financial aid?

• FAFSA- application for federal and state
  financial aid, and often for institutional funds
• CSS Profile- used by some institutions for
  institutional financial aid
• Institutional aid applications- may be used for
  need-based grants and merit-based scholarships

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• Request personal identification numbers (PIN) for
  signature requirements
• www.pin.ed.gov
• FAFSA on the web
• www.fafsa.ed.gov

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2. What are the deadlines for submitting
financial aid forms?

• FAFSA July 2 at the end of the academic year
  Allegheny deadline is February 15
• State Aid File FAFSA by May 1 for Pennsylvania.
  
• All state deadlines are listed on FAFSA
• Institutional Deadlines Check each school for
  need-based deadlines (Financial Aid) and
  merit-based scholarship deadlines (Admissions)

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What is Financial Need?
Cost of the institution - Expected Family
Contribution (EFC) the maximum need-based aid
eligibility

• Example
• School 1 School 2
• Cost 33,000 23,500
• EFC - 8,500 - 8,500
• Need 24,500 15,000

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3. When will I be notified of my financial
eligibility?

• Type of Aid
• Academic
• Need-based Gift Assistance vs. Self-Help
• Varies by school
• Specific notification date
• Rolling notification
• Accepted students only

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4. Will my request for financial aid have any
impact on my ability to be admitted to college?

• Need-blind Admissions
• vs.
• Non-need-blind Admissions

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5. Describe your financial aid program,
including requirements for need-based aid,
merit-based aid and scholarships.

• Need-Based Grants
• federal
• state
• institutional
• other
• Loans
• Work

• Merit-Based Aid Scholarships
• Continued Academic Requirements
• Community Service or Co-curricular Involvement
• Amounts per year

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6. Once my financial aid package is awarded,
will additional scholarships reduce the amount
of financial aid I can receive?

• Institutional policies vary
• Scholarships may be added to package to reduce
  unmet need
• Self-help may be reduced (loans and/or work
  awards)
• Grants may be affected

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7. Will your institution meet my full financial
need, and will it meet my full financial need
for all four years of my attendance?

• Federal need varies from school to school and
  year to year
• How is need met?

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8. Are there federal or state financial
aid programs that I should know about?

• Pennsylvania Grants
• Robert C. Byrd
• Sci-Tech Scholarship
• ACG/SMART Grants
• Other State Programs

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9. Does this college participate in a tuition
payment plan that allows installment payments
for each semesters bill?

• Institutional billing plans
• External billing plans
• Time frame for payment
• Interest
• Service charge

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10. Where can I find additional sources of
financial aid?

• Financial Aid Office
• - Special Circumstances
• Alternative Financing
• Guidance Counselors Office
• Websites
• - www.fastweb.com
• - www.petersons.com
• - www.collegeboard.com
• Do not pay for scholarship searches!

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Allegheny College
Admissions Office 1-800-521-5293 admissions_at_allegh
eny.edu Financial Aid Office 1-800-835-7780 fao_at_a
llegheny.edu