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Financial aid

Financial aid. Quick Video. https://youtu.be/QdaGZASwjZU. College affordability. Learn basic financial aid resources Understand the college affordability timeline Plan accordingly for upcoming financial aid season. Type of financial aid. COST OF ATTENDANCE. INDIRECT COSTS

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Financial aid

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  1. Financial aid

  2. Quick Video https://youtu.be/QdaGZASwjZU

  3. College affordability • Learn basic financial aid resources • Understand the college affordability timeline • Plan accordingly for upcoming financial aid season

  4. Type of financial aid

  5. COST OF ATTENDANCE • INDIRECT COSTS • Books and Supplies • Travel Expenses • Miscellaneous or Personal Expenses • DIRECT COSTS • Tuition and Fees • Room and Board Direct Costs +Indirect Costs = Cost of Attendance Direct Costs,on average, are the primary items which will be included in the student bill.

  6. college affordability philosophy Grants & Scholarships Work-Study Loans Student Contribution Family Contribution

  7. 2. Gather information Information you will need to fill out your FAFSA • Student Social Security Number* • Parent(s) Social Security Number* • Student Drivers License Number (if applicable) • Alien Registration Number for student/parent(s) • Parent(s) Date of Birth • Parent(s) Marriage/Divorce/Separation Date (MM/YYYY)

  8. 2. Gather information Forms you will need to fill out your FAFSA • Federal tax information or 2015 tax returns* (1040 Forms) • Records of untaxed income (Child support, veterans, non-education benefits) • Information on cash, savings, account balances, including real estate but not the home you live in

  9. 3. Apply for financial aid (FAFSA) • Get FSA ID • Financial aid applications will be available October 1st • Both student and parent(s) submit application

  10. 4. Review student aid report • Expected Family Contribution will be given to student upon submitting FAFSA

  11. 5. Tax transcript & update • Tax transcripts may be required for some schools

  12. Determining need Cost of attendance – Expected Family Contribution = Financial Need $20,000 – ___$2,000 = $18,000 $20,000 – ___$25,000 = -$5,000 $20,000 – _____0 = $20,000

  13. Award letter sample- on time • Assume EFC = $0

  14. Award letter sample – late submission • Assume EFC = $0

  15. Financial aid timeline • Big Ticket Items

  16. Next Steps • Information Packet • Same process EVERY year in college

  17. Thank you for your attendance  Feedback or Questions? ____________________________________________ Upcoming: FAFSA ROAD SHOW Evening workshops to help fill out the FAFSA in Nov. 10th 4:30-6:30 in the Library

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