Bell Ringer:Answer the following questions on your own

sheet of notebook paper:How much will it cost for you to attend college?

Consider tuition, room & board, living expenses, and more. Make a guess if you don’t know.

How are you planning on paying for college?

Turn in your COMMON APPLICATION HOMEWORK with HIGH SCHOOL RESUME staple to the back! PUT IN GREEN BIN!

To Do:1. Bell Ringer. 2. Turn in Common Application HW.3. Financial Aid Notes & Discussion. Open

Notes Quiz Tomorrow! (But not Open Handout, so study that sheet!)

4. Finish College Comparison HW & Sweatshirt Design for tomorrow.

Financial Aid Tips1. Some type of financial aid is available -

loans and grants, not just scholarships. Consider a combination of these to pay for college.

2. Be informed about interest rates.3. Apply for financial aid on 1/1/12 at 12:01

a.m. – that is when the new form is released.4. File the FAFSA by March 1st – after this

there is hardly any $ left!5. Research unique scholarships & grants.

Required Applications for AidApplication for Admission to College

Free Application for Federal Students Aid (FAFSA)

Institutional Aid Application or the CSS Profile

Calculating the EFCEFC is the Estimated Family ContributionConsiders:

Parent Contribution AGI – adjusted gross income in one tax year Federal & state tax liabilities Assets – net worth Family size Number in college

Student Contribution Earnings from work Assets – net worth

Cost – EFC = Aid Needed

Calculating Cost of SchoolCost of Education

TuitionRequired feesHousingMeals BooksTransportationMiscellaneous Expenses

Financial Aid OfferScholarshipsGrants (scholarships which may need to be paid off)

Student employmentStudents loans (see handout)

Is this College Affordable?This is important for you to discuss with your

parents or guardians.Need to make a candid review of family

resources:Parents:

Current income Savings or investments

Students: Savings or investments Summer earnings Academic year earnings Other resources

Completing the FAFSAFAFSA on the web at www.fafsa.ed.gov

Step 2 is the most important because the application is there.

Must fill out a FAFSA for every year you want $.

You should fill out a FAFSA this coming year for your first year of college (Fall 2012-Spring 2013).

Register for a PINwww.pin.ed.gov

PIN = Personal Identification Number

Use to electronically sign your application

You and your parents both need one.

What you will need …Student’s driver’s license or state ID &

social security cardParents’ social security cards & birth datesIncome information for student &

parent(s):Federal income tax returns, orW-2 forms, orEnd of year statements

For more info, see handout.

Who is considered a parent…Whoever has legal custody over the child.

If your parents are both living and married to each other, use both.

If your parent if widowed or single, use that person only.

If your parents have divorced or separated, use the parent you lived with most in the last 12 months. If you didn’t live with one parent more than the other,

use the parent who provided the most financial support during the last 12 months or during the most recent year you were actually supported by a parent.

If your widowed or divorced parent has remarried as of today, use that parent and the person whom your parent married.

Something to consider…Student’s Dependency

StatusUsed to determine if

the student is dependent or independent for financial aid purposes.

The student must answer ‘yes’ to at least one question to be considered independent.

Submitting the FAFSAPrint a copy of the information for your

records.Submit complete FAFSA information using

the PIN as the electronic signature.Print a copy of the confirmation receipt.Don’t forget to click “SUBMIT”. A “SAVED”

application will not be sent to the federal processor.

FAFSA sends a copy of your information to the schools you have applied to.

Financial Aid ReferencesCollege Board

www.collegeboard.orgFinancial Aid Information

www.finaid.orgLargest Free Scholarship Search

www.fastweb.comFAFSA on the Web

www.fafsa.ed.govDepartment of Education

www.ed.gov/studentaid