money doesn’t grow on trees…. ■ cost of attendance (coa) ♦ each college has its own student...
TRANSCRIPT
Senior Financial Aid Classroom Presentation
Money doesn’t grow on trees…
Example of how much it costs to attend a CSU
■ Cost of attendance (COA)♦ Each college has its own student COA. Costs can include: Tuition and fees, books and supplies, housing,
transportation and personal expenses.
■ Expected family contribution (EFC)♦ The amount of money the government believes you or your family could reasonably contribute toward your
education
Your Cost of Attendance- Your Expected Family Contribution (taken from the FAFSA)
= Your demonstrated financial need
ESTIMATED AVERAGE 2015-2016 ACADEMIC YEAR EXPENSES
Commuting from home Living in campus housing Living away from home/off-campus
Tuition Fee $5,472 $5,472 $5,472
Miscellaneous Fees 1,306 1,306 1,306
Books and Supplies 1,758 1,758 1,758
Meals and Housing 4,723 12,535 12,430
Transportation 1,345 1,167 1,393
Miscellaneous Personal 1,391 1,391 1,391
TOTAL $15,995 $23,629 $23,749
From: www.csumentor.edu/faq/finaid_costs.asp
UC estimated average costs 2015-16
http://admission.universityofcalifornia.edu/paying-for-uc/tuition-and-cost/index.html
What is Financial Aid?
Funds provided to students to help pay for postsecondary education
expenses.
Financial Aid includes: Grants
Work Study Loans
Scholarships
What are Grants?
A grant is FREE money.
Types: A Pell Grant is federal free money.
▪ FAFSA required
BOG (Board of Governors) at Community College- covers tuition. ▪ Apply through Community College website.
Cal Grant Cal Grants are State free monies, used for tuition
and/or other fees.▪ Cal Grant A, B, C
Grants can be used at a four year college or two year college or a technical school.
Start with the FAFSA or California Dream Act application.
We submit your GPAs electronically.
High School graduation confirmation required. Students can confirm online by using WebGrants for Students: www.webgrants4students.org
There’s a new grant program: Middle Class Scholarship Program (CSAC will notify students if they are eligible)
What is WORKSTUDY?
If eligible for Workstudy- Contact the college Financial Aid Office for list of jobs that qualify.
Must apply to a job on the list.
Examples of jobs are: jobs on campus, in the library, bookstore, etc.
The student is not required to pay taxes for this type of work.
What are LOANS? Money that MUST be paid back. Must be enrolled at least half time. Types of LOANS:
Student Subsidized Loan: government picks up the interest on the loan while the student is in school.
Student Unsubsized Loan: government doesn’t pay the interest on the loan. You can begin to the pay the interest as soon as you borrow the money or you can put it off paying while in school, just note that the interest will be added to what you borrowed. If you pay the interest while in school, you’ll pay less.
Parent Loans- Federal PLUS loans: Parents must apply, there’s a credit check and if granted parents start making payments right away.
Scholarships FREE Money
Must apply, no limit on how many you can apply to.
Most require letters of recommendation.
Eligibility requirements vary (for example some are based on GPA, talents, financial need, major, extracurricular activities, community service, ethnicity, church, etc…)
Financial Student Aid ID The FSA ID is a username and password and its an electronic signature. Start creating one for YOU and your parents also need to create one.
https://fsaid.ed.gov/npas/index.htm
FAFSA or CA Dream Act Application Fill out the FAFSA or CA Dream Act Application for the 2016-2017 school year and submit by March 2nd.
Look up your SAR (Student Aid Report), verify information and make corrections if needed.
Log in to your student account at each college you were accepted to and look up your Financial Aid Awards. Then Accept/Decline each award you were offered.
https://dream.csac.ca.gov/ https://fafsa.ed.gov/
California Dream Act Application
Who can apply: The California Dream Act Application is for students who meet
the qualifications of AB 540
An eligible AB 540 student is a student who: Attended a CA high school for 3+ years
Graduated from a CA high school or the equivalent
Enrolls in an accredited CA college or university Must be enrolled at least half time Maintain satisfactory academic progress
In case of student without lawful immigration status, filed an affidavit with institution stating that he/she has filed an application to legalize status or will file as soon as he or she is eligible
Website: www.caldreamact.org
Upcoming evening events to get more help…
Financial Aid Night: get information about what Financial Aid is and on how to fill out the FAFSA or CA Dream Act Application When: Wednesday, Dec. 9th
Time: 6:00pm-8:00pm English Presentation: LRHS Auditorium/Cafeteria Spanish Presentation: LRHS Library
Cash for College Workshop: work on the FAFSA or CA Dream Act Application, do their workshop exit survey, submit FAFSA or CA Dream Act Application by March 2. Wednesday, Feb. 3rd 4:00pm-7:00pm GHS Computer Lab…(sign up if you’re interested in
attending in the Career Center or just drop in).
Important Websites Cal Grant (www.csac.ca.gov )
1-888-224-7258 www.webgrants4students.org
FAFSA www.fafsa.gov 1-800-433-3243
PINhttps://fsaid.ed.gov/npas/index.htm
CSS Profile (for some Private Colleges)https://profileonline.collegeboard.com/prf/index.jsp
SCHOLARSHIPwww.fastweb.com