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WELCOME TO FINANCIAL AID

WELCOME TO FINANCIAL AID. Presented to you by: Mary Lou Harbin, College & Career Counselor Conroe High School. What is Financial Aid?. Types of Financial Aid are: Scholarships Grants

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WELCOME TO FINANCIAL AID

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  1. WELCOME TO FINANCIAL AID Presented to you by: Mary Lou Harbin, College & Career Counselor Conroe High School

  2. What is Financial Aid? Types of Financial Aid are: • Scholarships • Grants • Employment opportunities (work study) • Loans

  3. Categories of Financial Aid • Merit Based 1. Has a qualifying criteria such as contest, specific performance in writing, speeches, projects, writing contests. 2. Past High School achievements in academics, sports, leadership, participation in school and community service • Need Based • How much money can I get? There are three main rules to consider… • It is the family’s primary responsibility to pay for college (in so far as you are financially able to do so) • Your out of pocket expenses should be about the same (EFC) c. You will qualify for more aid at a higher cost school (NEED)

  4. Need Based Aid • Definition of need is: Cost of Attendance (Year) (-) Expected family contribution (=) Equals need

  5. Cost of Attendance • Tuition and fees • Books and supplies • Room and Board • Transportation • Miscellaneous Personal Expenses • Study aboard & special materials • Computer cost • Dependent care

  6. Example of Need Based Aid • School A School B • COA ($2,500) COA ($20,531) • EFC($12,000)EFC ($12,000) • No Need $8,531 (Notice that as the cost increases, the need increases)

  7. Applying for Financial Aid

  8. Financial Aid Package/Award Letter • COA at the college/university • Minus EFC • Minus Pell Grant (income of $50,000 or less, can qualify for $400-$5500) if received) • Minus ACG (freshman, top 10%, Dist. Achievement Diploma) or SMART (Soph. - if PELL eligible & 3.0 $1300, Junior/senior if PELL eligible & 3.0 GPA $4,000) • Minus Scholarships (if any) • Minus Campus-based federal/state grants (if any) • Minus Work Study • Minus Loans

  9. Federal Aid • Pell Grant ($5800-9/2011) • Academic Competitiveness Grant (ACG) • Science & Math Access to Retain Talent (SMART) • Supplemental Education Opportunity Grant • Federal Work Study • Perkins Loan Program • FFELP Loan Program (Federal Family Education Loan Program- Stafford Loan/Plus Loan) • Direct Loan Program (www.studentaid.ed.gov)

  10. FAFSA Parent & Student Workshop • Need help completing the FAFSA? Come and join us for our FAFSA workshop Night. We will have Financial aid counselors available to help you complete your FAFSA. Save the Date: Feb. 10, 2011 from 6:00 pm- 8:00 pm, in the CCC, we will hold a second session on March 8, 2011 • Please remember to bring with you copies of w-2s, if you have it a copy of your 2010 1040, investment information • Our Goal is for you walk out of here with your FAFSA Completed!!!!!!!

  11. Remember • Financial Aid and student’s hard work go together to make financial aid work for the student.

  12. Mary Lou Harbin,Counselor, College & Career Center936-709-5777College & Career CenterHours: Monday – Friday7:00 am – 3:00 pm

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