College Financial Aid Packages

12th GradeFAFSA and Financial Aid #5

Pre-Test

1. What three types of financial aid do students not have to pay back money?

2. Name two types of grants.3. What are three main factors to take into

consideration when choosing a college?

Objectives

• Estimate financial aid packages for– Three top colleges of interest– On college websites– FAFSA4caster

• Compare colleges’ expenses after subtracting estimated financial packages from costs

• Rank colleges of interest based on most important postsecondary institutions’ factors

Review Last Lesson

• College specific scholarships: two main factors– GPA and specific majors

• Staff member with good scholarship info– School counselor

• Type of scholarship that is sometimes easier to qualify for– Religious Organizations/Church/Mosque/etc.

College Financial Aid Packages

1. Consider financial aid you don’t pay back– Grants, scholarships, work study

2. Types of grants– National (Pell), State, Institution (college grant)

3. Take into account what loans are offered – Loans often cover the difference between

financial aid you don’t pay back and costs

4. Costs minus financial aid should be one factor in your college ranking decision

Naviance: Colleges Tab

Colleges I am Applying To

Anoka Technical College

Anoka Tech: FAFSA4caster

Arizona State University

Estimated Financial Aid

University of Minnesota

Cost, Aid and Scholarships

Net Cost Calculator

Comparing College Costs

1. Anoka Technical College– Costs after financial aid: $835• Note: Living At Home

2. Arizona State University– Costs after financial aid: $30,147• Note: Out of State Tuition

3. University of Minnesota– Costs after financial aid: $10,468

Update Postsecondary Plan

Comparing Your Colleges

1. Find financial aid calculators– At your top three colleges’ website• Or FAFSA4caster

– Calculate your college costs after financial aid

2. Rank colleges based on– Preparation for careers of interest– Overall education– Student life experience– Costs after financial aid

3. Update Postsecondary Plan

Class Discussion

1. What are you going to investigate the most in the near future?– Colleges of interest costs– Grants– Scholarships– Work study – Savings– Parent Contribution

Post-Test

1. What three types of financial aid do students not have to pay back money?

2. Name two types of grants.3. What are three main factors to take into

consideration when choosing a college?

Review

• Three types of financial aid students don’t have to pay back– Grants, scholarships, work study

• Types of grants– Federal (Pell), state, institution (college)

• Main college decision factors– Preparation for careers, overall education– Student life experience, costs after financial aid