financial aid night2013 hinsdale south guidance department

Financial Aid Night2013Hinsdale South Guidance Department

Review Planning Phase

• Assess Affordability based on reasonable borrowing

• Match that up with approximate net prices of colleges

• Create financial fits

Execution Phase

• Organize self financially

• What information is needed

• How will this information be viewed

Variables that Drive the EFC

• Parent’s Income• Student’s Income• Parent’s Assets• Student’s Assets

Filing the FAFSA

• January 1st, 2014

• Updating your Student Aid Report

• Signing the document with PINS

The CSS Profile

• How is the Profile Different?

• When is the Profile filed?

Divorced Households

• FAFSA rules

• Profile exceptions

Independent Students

• Ward of court• Homeless• 24 or older• Graduate / not undergrad• Military

FAFSA key numbers

• EFC leading to Pell Grant

• EFC leading to MAP

• EFC leading to College Grant

• Filing leading to loans and work

Direct Student Loan (stafford)

• Subsidized

• Unsubsidized

• Promissory note and loan counseling

Campus Employment

• Federal Work Study

• Part time jobs

• Student has to be the aggressor

Appeal Process

• When can you appeal?

• How do you appeal?

Analyze Award Letters

• Merit money (scholarships)

• Need based college grant money

• Federal and/or state grant money

• Student loan (automatic)

• Campus employment (available when student takes active role)

• Final College Decision – May 1

The Conversation

• Not negotiating

• Demonstrate systematic review of affordability

• Only proceed if number one choice is close

Independent Scholarship

• Senior checklist

• Regional options via website

• Fastweb.com for national data base

Parent Loan options

• PLUS

• Equity of home

• Private Student Loan

• 401k (403b) loan

• College acts as a bank