Monticello High School Seminar
Paying for College
Tonights Agenda
The Application Process
What is Financial Aid
Resources
Questions
The Application Process
How do students get financial aid?
FAFSA on the Webwww.fafsa.ed.govwww.fafsa.ed.gov
CSS/Financial aid PROFILE
www.collegeboard.orgwww.collegeboard.org
Determining Financial Need The FAFSA and other
applications are used to determine the Estimated Family Contribution (EFC)
Schools use the EFC to determine eligibility for need-based financial aid and to prepare an award package.
Cost of Attendance less EFC = Financial Need
What is financial aid?
Financial aid is…
Funds provided to students & families to help pay for postsecondary educational expenses. These include:
Scholarships/Grants = Free Money
Work Study = Must work to earn funds.
Loans = Must pay back
Scholarships
College/University Scholarships
Private and Community Scholarships
Loans Money that has to be repaid – usually not
until after the student graduates
Need-based award that provides an opportunity to work at your school and earn money to help pay for educational expenses.
Work Study
Grants
Need-based money awarded by colleges and universities.
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