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WELCOME TO FINANCIAL AID. Presented to you by: Mary Lou Harbin, College & Career Counselor Conroe High School. What is Financial Aid?. Types of Financial Aid are: Scholarships Grants - PowerPoint PPT Presentation
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WELCOME TO FINANCIAL AID
Presented to you by: Mary Lou Harbin, College & Career Counselor
Conroe High School
What is Financial Aid?
Types of Financial Aid are:
• Scholarships• Grants• Employment
opportunities (work study)
• Loans
Categories of Financial Aid
• Merit Based1. Has a qualifying criteria such as contest,
specific performance in writing, speeches, projects, writing contests.
2. Past High School achievements in academics, sports, leadership, participation in school and community service
• Need Based1. How much money can I get? There are
three main rules to consider…a. It is the family’s primary responsibility to
pay for college (in so far as you are financially able to do so)
b. Your out of pocket expenses should be about the same (EFC)
c. You will qualify for more aid at a higher cost school (NEED)
Need Based Aid
• Definition of need is:
Cost of Attendance (Year)
(-) Expected family contribution
(=) Equals need
Cost of Attendance
• Tuition and fees• Books and supplies• Room and Board • Transportation• Miscellaneous Personal Expenses• Study aboard & special materials• Computer cost • Dependent care
Example of Need Based Aid
• School A School B• COA ($2,500) COA ($20,531)• EFC($12,000) EFC ($12,000)• No Need $8,531(Notice that as the cost increases, the need increases)
Applying for Financial Aid
Free Application forFederal Student Aid
(FAFSA)
Get a pin Number Now for You and your parent
Go to www.pin.ed.gov
You can use www.fafsa4caster.ed.gov
OrFAFSA worksheet to get
An idea of what yourEFC would be
And to help you gather itemsYou will need to complete the application online.
Jan. 1, 2011Go to www.fafsa.ed.gov
(paper applications
only per student request)
Financial Aid Package/Award Letter
• COA at the college/university• Minus EFC• Minus Pell Grant (income of $50,000 or less, can qualify for $400-$5500)
if received)• Minus ACG (freshman, top 10%, Dist. Achievement Diploma) or
SMART (Soph. - if PELL eligible & 3.0 $1300, Junior/senior if PELL eligible &
3.0 GPA $4,000) • Minus Scholarships (if any)• Minus Campus-based federal/state grants (if any)
• Minus Work Study• Minus Loans
Federal Aid• Pell Grant ($5800-9/2011)• Academic Competitiveness
Grant (ACG)• Science & Math Access to
Retain Talent (SMART)• Supplemental Education
Opportunity Grant• Federal Work Study• Perkins Loan Program• FFELP Loan Program (Federal
Family Education Loan Program- Stafford Loan/Plus Loan)
• Direct Loan Program (www.studentaid.ed.gov)
FAFSA Parent & Student Workshop
• Need help completing the FAFSA? Come and join us for our FAFSA workshop Night. We will have Financial aid counselors available to help you complete your FAFSA. Save the Date: Feb. 10, 2011 from 6:00 pm- 8:00 pm, in the CCC, we will hold a second session on March 8, 2011
• Please remember to bring with you copies of w-2s, if you have it a copy of your 2010 1040, investment information
• Our Goal is for you walk out of here with your FAFSA Completed!!!!!!!
Remember
• Financial Aid and student’s hard work go together to make financial aid work for the student.
Mary Lou Harbin,Counselor, College & Career Center
936-709-5777College & Career CenterHours: Monday – Friday
7:00 am – 3:00 pm