financial aid information session application process how aid is determined different types of...
DESCRIPTION
Types of Applications Free Application for Federal Student Aid (FAFSA) NYS Tuition Assistance Program (TAP) Application Other applications or forms as required by the college such as CSS Financial Aid PROFILE Institutional Scholarship and/or Financial Aid Application IRS Tax Transcripts, not Federal Tax Returns (along with schedules and W-2s) or other income documentationTRANSCRIPT
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Financial Aid Information Session
Application Process
How Aid is Determined
Different Types of Financial aid
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Application Process
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Types of Applications Free Application for Federal Student Aid (FAFSA)
NYS Tuition Assistance Program (TAP) Application
Other applications or forms as required by the college such as
CSS Financial Aid PROFILE Institutional Scholarship and/or Financial Aid Application
IRS Tax Transcripts, not Federal Tax Returns (along with schedules and W-2s) or other income documentation
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FAFSA on the Web
www.fafsa.gov 2016-2017 FAFSA on the Web available as of January 1, 2016 Pre-Application Worksheet:
Available prior to January 1st
Assists in completion of FAFSA on the Web
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Application Filing Tips FAFSA on The Web
Gather necessary documents ahead of time Complete a FAFSA on the Web Worksheet available at
www.fafsa.gov Allow ample time to meet deadlines Check the FAFSA for accuracy prior to submission Save all work periodically Sign the application using student and parent’s Password Print out a copy of the FAFSA before submitting data Keep a copy of the Submission Confirmation Page
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Tuition Assistance Program (TAP)
Full-Time (12 credit hours)
New York State resident
Must meet income requirements
Annual awards range from $500 - $5,165 (the award cannot exceed tuition)
Welcome to TAP on the Web! This online application process allows you to apply for New York State's Tuition Assistance Program (TAP). The New York State Higher Education Services (HESC) is the state agency that helps people pay for college by administering the TAP, guaranteeing student loans, offering guidance and administering a College Savings program for students and families.
If you have not submitted a FAFSA
application, you may do so at: http://www.fafsa.ed.gov/
To complete your online TAP application, you
must first create a user name and personal identification number (PIN). Click here.
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How Aid is Determined
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Cost of Attendance
• Tuition• Room and Board• Books & Supplies• Transportation• Miscellaneous Expenses
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EFC – expected family contribution
Families need to understand their situation
www.finaid.org/calculators/finaidestimate.phtml
apps.collegeboard.com/fincalc/efc_welcome.jsp
http://www.utica.edu/npc
Families need to understand colleges’ financial aid policies
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Need
Cost of Attendance minus Expected Family Contribution
Tuition
Room and Board
Books & Supplies
Transportation
Misc. Expenses
Income
Assets
Allowances
Other Resources
# Children in College
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BEYOND THE NUMBERS
Explain…
But don’t Complain
Document
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Different Types of Aid
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Grants
Federal Pell SEOG
State TAP APTS
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Loans Subsidized Direct Loan
Unsubsidized Direct Loan
PLUS Loan
Alternative Educational Loans
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Work
Federal Work-Study
Institutional Student Payroll
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Institutional Merit
Does NOT have to be repaid May be conditional
Certain high school GPAMay have to maintain a certain GPAOne year vs. renewableMaybe based on SAT’s, ACT’s, community service, the arts, athletics, etc.
Amounts vary from school to school. Ask! Check current publications!
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Institutional Grants
Do NOT have to be repaid May or may not be need-based May be conditional
Maintain a certain GPAOne year vs. renewableDepartmental awards
Amounts vary from school to school. Ask! Check current publications!
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Outside Scholarships
These can come from many different resources.
Parent employee benefit or student employer Clubs, associations, foundations Armed forces, Peace Corps, AmeriCorps Civic organizations Community service oriented Athletic Leadership
Searching is FREE! No need to pay for any services.Just takes some work!
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Important Websites
Financial aid information:
Studentaid.govStudentloans.gov
Applications:
Fafsa.govHesc.ny.gov
Scholarships:
Collegeboard.orgFastweb.com
Utica College:Utica.edu/npc
Utica.edu/apply
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Student Financial ServicesSuite 117
in Hubbard Hall
www.utica.edu/[email protected]
Karolina HollAssociate Director of Student
Financial Counseling
QUESTIONS???