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Financial Aid . Prospect High School Guidance Department Fall 2010. Agenda. What is Financial Aid? Financial Aid Myths Application Process Calculating Eligibility Awarding and Packaging What Next?. What is Financial Aid?.

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financial aid

Financial Aid

Prospect High School

Guidance Department

Fall 2010



  • What is Financial Aid?
  • Financial Aid Myths
  • Application Process
  • Calculating Eligibility
  • Awarding and Packaging
  • What Next?
what is financial aid
What is Financial Aid?
  • Financial Aid is any money given, paid or loaned to help pay for education
  • Federal Student Aid
  • California State Aid
what does it pay for
What does it pay for?
  • Tuition and fees
  • Room and board
  • Books and supplies
  • Transportation
  • May also include allowance for:
    • Child care
    • Costs associated with a disability
    • Rental or purchase of computer
fafsa calgrant
FAFSA & CalGrant
  • Free Application for Federal Student Aid (FAFSA)
  • CalGrant

Basic Equation of Need

Cost of Attendance (COA)

  • Expected Family Contribution (EFC)
  • Student’s Financial Need (eligibility)

Santa Clara

COA $50,604

- EFC 1,000

= Need $49,604

San Jose State

COA $19,888

- EFC 1,000

= Need $18,888

West Valley

COA $10,667

- EFC 1,000

= Need $ 9,667

Examples only: contact college directly for 2010 – 11 costs.

financial aid myths
Financial Aid Myths
  • Myth #1:

You can’t afford college

  • Myth #2:

You have to be very poor, very smart or very talented to qualify

  • Myth #3:

You can get more scholarships by paying someone to search for you

  • Myth #4:

If you pay for college, your parents’ salaries don’t matter

  • Myth #5:

You can wait until you get accepted to a college before worrying about financial aid

types of financial aid
Types of Financial Aid
  • Need-Based
  • Based on family’s financial situation
  • Non Need-Based (Scholarships/Loans)
  • Based on grades, test scores, hobbies, special talents, affiliations, heritage, etc.

Types of Financial Aid

  • Gift Aid
  • Grants
    • Federal Pell Grants
    • Cal Grants
  • Scholarships
  • Self Help
  • Work Study
  • Loans

Types of Financial Aid – GIFT Federal Pell Grant

  • First source of aid
  • Undergraduate students only
  • Amount based on
    • Cost of Attendance (COA)
    • Expected Family Contribution (EFC)
    • Enrollment status
  • 2010-2011 maximum = $5,800
types of financial aid gift cal grants
Types of Financial Aid – GIFT Cal Grants
  • Cal Grant A

For students with a Grade Point Average (GPA) of at least 3.0, family income

and assets below the state ceilings, and who demonstrate financial need

  • Cal Grant B

For students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need

  • Cal Grant C

For students from low income families pursuing career programs of study


Types of Financial Aid – GIFT College Grants

  • Community CollegeBoard of Governor’s Fee Waiver (BOG)
    • Waives enrollment fees, FAFSA may be required
  • CSU State University Grant (SUG)
    • Amounts vary, FAFSA is required
  • UC Grant
    • Amounts and application process vary
  • Independent College Grants
    • Amounts and application process vary
creating a webgrants 4 students account
Creating a “WebGrants 4 Students” Account
  • For the first time, students can now create a WGS account with a submitted GPA to the Commission.
  • To establish a WGS account, go to and follow the instructions!

Types of Financial Aid – SELF-HELP Federal Work Study

  • Campus-based aid
  • Must be earned through work
    • Job may be on or off campus
  • May have annual maximum
    • funding levels vary at each institution
  • Need-based
types of financial aid self help loans
Types of Financial Aid – SELF-HELP Loans
  • Subsidized- Need based
  • Unsubsidized- Not need based
  • PLUS - Not need based
  • Perkins - Need based

Step 1: Filing the FAFSA

Apply For A PIN

Students need a PIN. Parents need a PIN.

The PIN Application Process consists of 3 steps:Step 1: Enter Personal InformationStep 2: Submit Your PIN Application Step 3: Receive Your PIN

information needed to register for a pin
Information Needed to Register for a PIN
  • Social Security Number
  • Last name, First name, Middle initial
  • Date of Birth
  • Address
  • E-mail

Step 2: Apply Online

File a FAFSA online



what s the deadline
What’s the deadline?

The 2011-12 deadline

for FAFSA and GPA submission is

Wednesday, March 2, 2011

what is a name
What is a name?
  • Must use legal name as it appears on social security card





are you a u s citizen
Are you a U.S. citizen?

U.S. Citizen, Eligible non-citizen, or Neither

  • Must have a Social Security Number to continue online application
    • 800.772.1213 or
  • Matched with name and date of birth registered with SSA
who is eligible for federal aid
Who is eligible for federal aid?

Eligible non-citizen

  • If checked ‘eligible non-citizen’, must provide the Alien Registration Number (ARN)
    • US permanent resident with alien registration card
    • Conditional permanent resident
    • Refugee, asylum granted
  • The ARN will be matched with records at Department of Homeland Security (DHS)
selective service inactive draft
Selective Service/ Inactive Draft
  • Males between 18 and 25 must register
  • Check “Yes” and you will be automatically registered
  • Not yet 18, check yes and SSS will register you on birth date
  • May also register using Web site
degree grade level
Degree/Grade Level

Student’s Grade Level

  • Check “1st year/never attended college before”, whether or not a concurrent enrollment student


  • Check “1st bachelor’s degree”

Student’s expected enrollment status

  • Always check “full time”
  • Does not commit you to attending full time
loans or work study
Loans or Work Study
  • Check “Both work-study and student loans”
    • does not obligate student
    • can decline once aid is awarded
  • Checking “neither” may restrict some of your options
dependency status
Dependency Status
  • Dependent = parent info required
  • Independent = parent info not required
    • Independent students are one or more of the following:
      • 24 years of age or older
      • Completed first BA/BS degree
      • Married
      • Parent of a child for whom you are providing 50% or more of your financial support
      • On Active Duty / A Veteran
      • At age 13 or older were a ward of the court, an orphan (both parents deceased), or in foster care
      • Emancipated minor
      • In legal guardianship
      • Unaccompanied youth, homeless, or self-supporting and at risk of being homeless
parents household size
Parents’ Household Size
  • Include student and parents
  • Siblings/ other people (regardless of age)
    • If they live with parents and provide 50% or more of their financial support from July 1, 2010- June 30, 2011
Real Estate

Trust Funds

Money Market Funds

Mutual Funds

Certificates of Deposit


Stock Options

Are not…

Home you live in

Retirement Plans

Checking or Savings Accounts

what happens after applying
What Happens After Applying?

Students and colleges receive Student Aid Report (SAR) from federal processor


Students who complete FAFSA and Cal Grant GPA Verification Form receive California Aid Report (CAR)


Colleges match admission records with financial aid applications and determine aid eligibility


Colleges mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms

comparing awards
Comparing Awards

Gather Information

  • Award letters from all colleges
    • Circle or highlight aid types and amounts
  • Every college may have a different awarding policy
  • College cost of attendance information
    • Award Letters
    • Handbooks, application materials

Application Process CSS Financial Aid PROFILE

  • 2 step process
    • $25 online registration
    • $16 per school
  • Not used for awarding federal financial aid
  • Filed earlier than the FAFSA
  • Not all schools require
  • Application is customized for each student
  • Assistance is available:
    • Phone (305) 829-9793
    • E-mail:
application process css financial aid profile cont
Application Process CSS Financial Aid PROFILE (cont.)

The undergraduate colleges in California that require the CSS/Profile are:

  • California Institute of Technology
  • Claremont McKenna College
  • Harvey Mudd College
  • Occidental College
  • Patten University
  • Pitzer College
  • Pomona College
  • Santa Clara University
  • Scripps College
  • Stanford University
  • University of Southern California

Financial Aid Night

at West Valley College Theater

Thursday, January 20th

6:30 – 8:30 PM

Workshops are presented in English, Spanish and Vietnamese

your to do list
Your To-Do List
  • Complete GPA Release Form and return to the Guidance office
  • Complete the FAFSA online beginning January 1st
  • Attend the Financial Aid workshop at the West Valley College Theater on Thursday, January 20th
  • Attend Scholarship Workshops at PHS on January 19th and January 20th
  • Watch for your Student Aid Report (SAR)
pin workshop
PIN Workshop
  • Information Needed to Register for a PIN
    • Social Security Number
    • Last name, First name, Middle Initial
    • Date of Birth
    • Address
    • Email address and be able to log in remotely (id/password, if needed)
thank you
Thank you