Financing Education Beyond Prince George High School

1
Financing Education Beyond Prince George High
School
January 9, 2013 Presented by Jeanne
Holmes Richard Bland College jholmes_at_rbc.edu

2
Will this be your household?
3
This??
4
This ???
5
Or this???? Avoid these scenarios by being
proactive and prepared.
6
What is Financial Aid?

• Scholarships
• Grants
• Loans
• Employment opportunities

7
Cost of Attendance

• Tuition and fees
• Room and board
• Books, supplies, transportation, and
  miscellaneous personal expenses, including
  documented costs for a personal computer
• Loan fees
• Study abroad costs
• Disability-related expenses
• Cooperative education program costs
• Dependent care expenses

8
Definition of Need
Cost of attendance (COA) Expected family
contribution (EFC) Any aid or scholarship
already awarded Need
9
Need Varies Based on Cost
10
Do I need my parents information to apply?
Maybe, depending on your answers to the next
questions . . .
11
Questions to determine independence(An answer of
yes to any one of these may independence)

• Were you born before January 1, 1990?
• Are you currently serving on active duty in the
  U.S. Armed Forces for purposes other that
  training?
• Are you a veteran of the U.S. Armed Forces?
• Are you a graduate student (working on a graduate
  certificate, masters or doctorate degree)?
• As of today are you married (answer yes if
  separated but not divorced)?
• Do you have children or dependents (other than a
  spouse) for whom you provide more than half of
  their support between July 1, 2012 and June 30,
  2013?
• At any time since you turned age 13 were both of
  your parents deceased, were you in foster care or
  were you a dependent or ward of the court?
• As determined by a court in your state of legal
  residence, are you or have you been declared an
  emancipated minor?
• As determined by a court in your state of legal
  residence, are you or were you in a legal
  guardianship?
• At any time on or after July 1, 2012 were you
  determined to be homeless or at risk of being
  homeless?

12
THE FAFSA4CASTER

• http//www.fafsa4caster.ed.gov/

If you want to begin exploring your financial aid
options and get an early start on the financial
aid process, FAFSA4caster is for you! By using
FAFSA4caster, you and your family will receive an
early estimate of eligibility for federal student
aid.
13
The FAFSAwww.fafsa.gov

• The Free Application for Federal Student Aid
• Who is eligible to apply?
• What documents and information will I need to
  complete the FAFSA?
• When should I complete the FAFSA?
• How long will it take to complete the FAFSA?

14
PIN Registration

• Web site www.pin.ed.gov
• Not required, but speeds processing

• May be used by students and parents throughout
  aid process, including subsequent school years
  and to access the NSLDS website.

15
The FAFSA on the Web Worksheet www.fafsa.gov

• allows you to read and complete the questions
  before entering your information online
• questions are listed in the same order as they
  appear on the Web site

16
Frequent FAFSA Errors

• Parent and student Social Security Numbers
• Divorced/remarried parental information
• Income earned by parents/stepparents
• Untaxed income
• U.S. income taxes paid
• Household size
• Number of household members in college
• Real estate and investment net worth

17
What happens after I complete the FAFSA?

• What to look for . . .

18
The Student Aid Report (SAR)
19
The Award Letter
20
I still have questions

• Will my financial aid be sent to me?
• Will my financial aid cover my entire college
  education?
• What other financial aid information/resources
  are there?
• ????
• ????
• ????

21
Remember

• Deadlines are critical
• Explore all options
• Accuracy is important
• Follow ALL instructions
• Seek advice/ask questions
• Start now planning for next year
• QUESTIONS ?????

22
Some Helpful Web Sites

• www.fafsa.gov
• www.pin.ed.gov
• www.fafsa4caster.ed.gov
• www.studentaid.ed.gov
• www.collegeboard.com
• www.finaid.org
• www.fastweb.com
• www.schev.edu
• www.offtocollege.info

23
Good Luck!