Financing your education 2011-2012. www.ndscs.edu. Excerpts and Graphics Provided by: National Association of Student Financial Aid Administrators North Dakota Association of Student Financial Aid Administrators. Agenda. 1. Definition of Financial Aid. 2. Definition of Financial Need.
Excerpts and Graphics Provided by:
National Association of Student Financial Aid Administrators
North Dakota Association of Student Financial Aid Administrators
Definition of Financial Aid
Definition of Financial Need
Description of Financial Aid Programs
How to Apply for Financial Aid
NDSCS or Outside Agencies
Federal or State
Subsidized or Unsubsidized
Institutional or Federal
“Federal Methodology” is the formula created by Congress to determine the expected family contribution (EFC).
Information provided on the FAFSA is used to calculate the EFC.
Independent Students are:
As soon as possible complete a:
Free Application for Federal Student Aid(FAFSA)
The student (and parents, if necessary) complete the Free Application for Federal Student Aid (FAFSA)
Submit an electronic FAFSA.FAFSA Process
The student will receive a Student Aid Report (SAR). The school will receive the same information. Student may be selected for “verification.”
FAFSA data is received by U.S. Department of Education Central Processing Service (CPS). The CPS calculates an Expected Family Contribution (EFC), and performs verification checks and edits.
* Colleges have a limited amount of these funds.
You shouldn’t have to pay to get free money.
The only paying that should be done
Ask questions and do some research.
is paying attention!
Free Internet Scholarship Search Engines
Tax Incentives (www.irs.gov) Publication 970:
In Order for your federal (loans & grants) financial aid to disburse, you must be active in and/or have successfully completed 6 or more credits per term. You have to be currently enrolled in the term to receive your financial aid.