HOW TO SURVIVE THE FINANCIAL AID PROCCESS THINGS YOU MAY
ALREADY KNOW AND PROBABLY SOME YOU DONT!
Slide 3
What is the FAFSA? Free Application for Federal Student
Aid.
Slide 4
HOW TO APPLY Visit www.fafsa.ed.gov.www.fafsa.ed.gov Complete
the FAFSA using your tax return and if considered a dependent
student, use your parents tax return also. Wait 7-14 business days
for the application to process. Return any paperwork requested by
the Financial Aid Office.
Slide 5
WHAT THE FAFSA COVERS. Federal Funds - PELL, FSEOG State Funds-
NCSIG, NCCG, NCELS Eligibility for Subsidized Direct Loans
Slide 6
Things to Remember The Department of Education assigns you an
EFC (Expected Family Contribution) that determines your eligibility
for federal and state funding. The FAFSA must be completed for each
new academic year. Your financial aid is not complete when you
submit your FAFSA. You must receive an award letter stating your
award amount. DO YOUR FAFSA AS EARLY AS POSSIBLE!!!!
Slide 7
Financial Aid Breakdown When you are assigned Pell Funding by
the Federal Government, it is assigned at a full time student
level. Your funding will be adjusted to reflect your credit
hours.
Slide 8
Student Loans Direct Subsidized Loans Loan done through
Department of Education. Government pays the loan interest while
the student is in school. Direct Unsubsidized Loans Loan done
through the Department of Education. Student is responsible for the
loan interest from the moment it is dispersed. Alternative Loans
Loan is done through a Private Lender.
Slide 9
REQUIREMENTS TO RETAIN ELIGIBILITY Each institution will have a
Satisfactory Academic Progress Policy (SAP) that will outline the
requirements to retain Financial Aid Eligibility throughout your
academic career!
Slide 10
This is what happens if you lose your financial aid eligibility
!
Slide 11
Return to Title IV If a student drops all of their credit hours
before the 60% of the semester a calculation is performed to
determine what percentage of his/her financial aid must be returned
to the Department of Education. This can cause a student to be
ineligible for any additional financial aid in the future and block
any transcript requests.
Slide 12
Other functions of Financial Aid Office Veterans Affairs
Work-Study Scholarship Information
Slide 13
Ever wonder how depressed your parents will be once your away
at college?
