Financial Aid and Scholarship Presentation

1. Financial Aid and Scholarship Presentation Presented by Mr. Bolton and Mrs. Buisch

2. PIN and FAFSA • PIN: Signature for Federal Student Aid • Apply any time • Free Application for Federal Student Aid (FAFSA): • Starting date for application: January 1st *We recommend applying by February 15th (estimate taxes) • Information needed in order to complete FAFSA: • Social Security number (student’s and parent’s) • Driver’s license number (if existent) • Federal tax returns and income information (W2)

3. FAFSA Process • Apply for a PIN - www.pin.ed.gov • Apply for federal student aid - www.fafsa.ed.gov • Receive Student Aid Report (SAR) via email, review, and complete online • Estimate taxes if not filed yet • Receive Financial Aid Award letters from individual colleges • Accept or appeal Financial Aid Award: *Note: Exercise caution if appealing. Students with unusual financial issues should contact the college’s financial aid office and explain their situation

4. Financial Aid Resources • FAFSA resources: • Online chat - http://www.fafsa.ed.gov/contact.htm • 1‑800‑4‑FED‑AID (1‑800‑433‑3243) or 319‑337‑5665 • Email - FederalStudentAidCustomerService@ed.gov • College financial aid offices • Financial Aid Night – FREE Parent Financial Aid Seminar is the first Thursday in January after winter break

5. Grants • Qualifying students can receive free money toward their post-secondary education in the form of grants • Federal – Awarded by the federal government, based on family income • State – Awarded by state organizations, based on specific criteria • NY State Tuition Assistance Program (TAP) – For students attending approved schools in NY. https://www.tapweb.org/totw/

6. Loans Loans allow students to borrow money and repay in increments with varying interest rates • Federal Loans - Usually offer low interest rates • Subsidized Stafford loans – Based on income • Unsubsidized Stafford loans – Available to all students • Plus loans – Parents can obtain to help pay for education • Consolidation loans – Combines multiple loans into one payment • State Loans – The New York Higher Education Loan Program (NYHELPS): • Offered to students who have exhausted all federal, state, and institutional aid • http://www.hesc.com/content.nsf/NYHELPs/Loan_Details • Private Loans – Higher interest rates, often available through banks

7. Scholarships • Scholarships reward money to students to help fund post-secondary education • Reasons to apply for scholarships: • Free money! • Awarded for various criteria • If you can’t pay for college, you can’t go • Less to pay back later • There is NO good reason not to apply

8. Scholarship Packet Review • Fill out information on front page of packet • Highlight names of scholarships in packet for which you are qualified to receive • Drop packet off with Mrs. Oas in the SCO: *Please be patient and give her 24-48 hours • Pick up scholarship packet in the SCO • Fill out applications for scholarships • Ask at least three people for letters of recommendation: • Give these people two week’s notice • Send them “thank you” letters

9. Additional Scholarship Resources • SCO - Visit weekly for additional scholarship opportunities • College and financial aid websites (see attached list) • Free scholarship search: http://www.scholarships.com/ • http://www.fastweb.com/

10. BEWARE OF SCAMS • Be cautious of certain businesses, websites, and seminars that promise money toward college in exchange for payment for their services • These may appear to offer legitimate services but are actually charging money for free information • There are plenty of resources, including the SCO, which provide free scholarship information • A list of legitimate websites is provided on the second page of the scholarship packet

11. Questions? Comments?