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FINANCIAL AID 101 How am I going to pay for college? College is affordable when you have the right information! 2 Key Factors that determine a financial aid award Grades income 3 Parts to a financial aid award Will I be eligible for student Loans?

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Presentation Transcript
slide2

How am I going to pay for college?

College is affordable when you have the right information!

slide7

Will I be eligible for student Loans?

  • If I’m eligible, Will I have to take out student loans to pay for college?
  • When do I repay the loan?
  • will the payment be high?
  • Who is responsible for the loans, me or my parents?
cal state university financial aid award
Cal State University financial aid award

Financial aid award (+)

Grants &

scholarships: $7,576

Work study: $0

loans: $1800

total B: $9,376

Cost of attendance (-)

Tuition & Fees: $4,058

Books: $1,200

total A: $6,258

PROFILE

Name: elsa

H.S.: ganesha

G.P.A.: 3.0

Family Income: $35,000

College:

Cal Poly Pomona

Cost of attendance-financial aid award=+3118

PARENT CONTRIBUTION: $0

STUDENT CONTRIBUTION: $1800X4=$7,200

cal state university financial aid award9
Cal State University financial aid award

Financial aid award (+)

Grants &

scholarships: $10,354

Work study: $0

loans: $4,000

total B: $14,354

Cost of attendance (-)

Tuition & Fees: $4,058

Room & Board: $9,240

Books: $1,200

total A: $14,498

PROFILE

Name: Raquel

H.S.: Don Lugo

G.P.A.: 3.6

Family Income: $30,000

College:

Cal Poly Pomona

Cost of attendance-financial aid award=-144

PARENT CONTRIBUTION: $144X4=$ 576

STUDENT CONTRIBUTION: $4000 X 4=$16,000

slide10

Retail value $50,000

http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx

university of california financial aid award
University of california financial aid award

Financial aid award (+)

Grants &

scholarships: $18,201

Work study: $1,840

loans: $1,200

total B: $21241

Cost of attendance (-)

Tuition & Fees: $9,141

Room & Board: $10,900

Books: $1,200

total A: $21241

PROFILE

Name: Lizbeth

H.S.: garey

G.P.A.: 3.8

Family Income: $25,000

College:

UC Riverside

Cost of attendance-financial aid award=$0

PARENT CONTRIBUTION: $0

STUDENT CONTRIBUTION: $1200 x 4=$4,800

selective private college financial aid award
Selective private college financial aid award

Financial aid award (+)

Grants &

scholarships: $45,575

Work study: $1,325

loans: $0

total B: $46,900

Cost of attendance (-)

Tuition & Fees: $34,884

Room & Board: $10,816

Books: $1,200

total A: $46900

PROFILE

Name: Ernesto

H.S.: ganesha

G.P.A.: 4.3

Family Income: $30,000

College:

Swarthmore

Cost of attendance-financial aid award=$0

PARENT CONTRIBUTION: $0

STUDENT CONTRIBUTION: $0

slide13

$4000

each summer to travel anywhere in the world

http://www.youtube.com/watch?v=8LgKU8SMqm0

slide14

BRIGHT Prospect alumni

UC Berkeley

California

POMONA h.s.

$ 90,000

MIT

Massachusetts

GANESHA H.S.

$ 180,000

BRYN MAWR

PENNSYLVANIA

GAREY h.s.

$ 180,000

Uc san diego

California

ganesha h.S.

$ 85,000

bowdoin College

maine

$ 190,000

slide15

HOW DO I APPLY FOR FINANCIAL AID?

  • Fafsa (FREE APPLICATION FOR FEDERAL STUDENT AID)
  • CSS PROFILE (College Scholarship Service)
  • When do I apply for financial aid?
  • Senior year of high school
what is an b worth in high school

EARNING THE GRADE!

What is an “A” worth in high school?

Up to $4,000

What is an “B” worth IN HIGH SCHOOL?

UP TO $ 3,000

slide17

TEST YOUR FINANCIAL AID KNOWLEDGE!

WHAT ARE THE 2 KEY FACTORS IN DETERMINING A FINANCIAL AID AWARD?

WHAT ARE THE 3 CATEGORIES OF FINANCIAL AID AWARD?

WILL I HAVE TO TAKE OUT LOANS?

WHEN DO I PAY BACK MY LOANS?

WHEN DO I APPLY FOR FINANCIAL AID?

WHAT FORMS DO I FEEL OUT?

4/40 RULE!