Financial Aid WorkshopMission Hills High School

Presented by:

Michele OjedaFinancial Aid Advisor

Today’s Discussion:

• What is Financial Aid?• How do I apply? • What types of Financial Aid are there?• Am I Eligible? • California Dream Application/AB540• Important Reminders!• Scholarship Searches

What is Financial Aid?

• Grants• Loans• Scholarships• Employment Opportunities

How Do I Apply? The FAFSA is the primary method of determining financial aid eligibility

Free

Application for

Federal

Student

Aid

Easiest way to completeFAFSA is online

Complete FAFSA Each Academic Year

www.fafsa.ed.gov

www.fafsa.com

• www.pin.ed.govYou need to requesta PIN for You (the Student) in order to sign and submit your FAFSA electronically. Your parents must request a PIN too!

You and your parents can request your PIN NOW!!!

www.pin.ed.gov

FAFSA on the Web Homepagewww.fafsa.ed.gov

What happens when I apply? What’s the

process?• Complete electronic FAFSA, sign using PIN or send signature

page to fed processor

• After your FAFSA has been processed, a Student Aid Report (SAR) “link” is emailed to the student– Check the SAR for accuracy

• Schools listed on the FAFSA receive the information electronically

• Each school determines the financial aid eligibility

• If school needs additional information, student will be notified by school listed on FAFSA.

FAFSA used to determine EFC

• EFC = Expected Family Contribution

– The federal government determines your ability to pay for post-secondary expenses (including living expenses)

– The Financial Aid Offices use the EFC to determine a student’s eligibility for need-based aid

March 2nd, 2013

All California public institutions, as well as some private institutions, use the March 2nd priority filing date, which is also the Cal Grant deadline

Am I Eligible for Need-Based Aid?

Cost of Attendance per institution (COA)

MINUS Exp. Family Contribution (per FAFSA EFC)

= Eligibility for Need Based Aid

Cost of Attendance (COA)

• Includes estimates for:– Tuition/Fees (actual)– Room/Board– Books – Transportation– Miscellaneous/Personal

California State University San Marcos Cost of Attendance for 2012-2013

Amounts listed above are for CA resident, enrolled full-time.

Federal Pell Grant:

Designed for low income students with an EFC between 0 and 4996

Awards range from $602 to $5550 per year depending upon EFC and enrollment

May be received while completing 1st Bachelors and preliminary teaching credential*

*only at institutions which do NOT offer a Bachelors

degree in education

Other Federal Financial Aid:

Federal Supplemental Educational Opportunity Grant (FSEOG)

• Must be awarded to Pell eligible students first

• Limited funds; usually awarded to priority students first

Other Federal Financial Aid:

Federal Work Study:

• Aid that is earned by working; monthly paychecks; will work around students school schedule.

• If you don’t work, you don’t get the $$

Federal Student Loans

• Subsidized Loan – 3.4%

• Unsubsidized Loan – 6.8%

Cal Grants

Administered through:

– California Student Aid Commission

(CSAC)– www.csac.ca.gov

It Takes Two !!!

To Apply for a Cal Grant, you must complete:

1. FAFSA

2. Cal Grant GPA Verification Form

Both must be submitted by the March 2nd deadline

CSUSM Institutional Funds

State University Grant– Assists with the state fee, so can not receive

Cal A simultaneously and can not receive with Cal B after 1st year

– Awarded to eligible students until funds depleted

– Important to meet priority filing dates

Educational Opportunity ProgramEOP services include:

Personal & academic counseling• Priority Registration• Peer Mentoring• First Year Experience• Supplemental Instruction• University & Program Orientation• EOP Grant• The Center• Summer Bridge Program

Educational Opportunity Program

Application process:

Apply to university using CSU Mentor

Indicate interest on application

Complete EOP portion of application

EOP Office will email student with

additional information

California Dream ApplicationStudents without lawful immigration status, who qualify for an AB540 nonresident tuition exemption:

• File for state and institutional need based scholarships and

grants by filing a California Dream Act application at

www.CalDreamAct.org.

•The Admission application fee waiver is also being extended to students without lawful immigration status, who will qualify for an AB540 nonresident tuition exemption & meet the income guidelines

California Dream Application AB 540 General Requirements•The student must have attended a HS (public or private) in CA for 3 or more years,

AND•The student must have graduated from a CA HS or attained the equivalent (GED and CA HS proficiency exam also qualify),

AND•File an AB540 Affidavit (California Non-Resident Tuition Exemption Request form) with the college or university

•Available in the Admissions & Records office of each CSU

Financing College is a Partnership Students contribute through working and borrowing Parents are asked to contribute based on their

financial ability Low-income parents are often asked to contribute zero

Universities combine the different forms of financial aid for students Offer a combination of federal, state, or

university grants and scholarships to eligible students

Assist families seeking loans to help meet their contribution

Obtain a PIN– student AND parent, if student is ‘dependent’

Complete the FAFSA– submitted by student/parent to federal processor

Cal Grant GPA Verification Form– submitted by school or student to CSAC

Submit FORMS by March 2 every year

No signatures!Must obtain PIN for electronic signatures of student

and parent, or must send in signature page for student and parent

Income/Asset information left blank! File by deadline even if federal tax return not filed

Mismatched social security number with name and date of birth

No schools listed

ScholarshiphelpAn excellent starting point. www.scholarshiphelp.org 

StudentServicesFree scholarship information, by major.www.studentservices.com

FastAID and FastWEBFree college scholarship search and student loan informationwww.fastaid.com www.fastweb.com

FinAid Comprehensive free resource for student financial aid information on the Web. Free scholarship search, financial aid calculators, glossary, and bibliography. www.finaid.org