PAYING FOR COLLEGE: FINANCIAL AID

COLLEGE: WHO ACCEPTS FINANCIAL AID?

4-Year Universities Community Colleges Technical Colleges Many Apprenticeship Programs

FINANCIAL AID ISN’T SOMETHING YOU CAN GET ON YOUR OWN . . .This may involve difficult family conversations about:

Your parent’s income Your citizenship status If your parents are divorced, the parenting plans If you live with a guardian instead of a parent, you’ll need to figure

out whether you are still a “dependent”

How can you start the conversation? Have you checked in with your parent/guardian about your plans

for after high school? If your situation is complicated, we would love to talk with you in

person and help!

Grants- money you don’t pay back, determined by your family’s financial need

The greater your family’s financial need, the more likely you are to receive grants.

Loans- money you pay the government back, with interest after you have left school

Subsidized Loans are better: You don’t start accruing interest on your loan until after you have left school

Unsubsidized Loans start accruing interest as soon as you accept them.

Scholarships- College-specific scholarships (example: Husky Promise at UW) General scholarships (example: Hazelwood PTSA scholarship):

Non-college specific.

WHAT IS FINANCIAL AID?

HOW MUCH WILL COLLEGE COST ME? Net Price Estimator: Find this “Estimator” tool on every college Financial Aid webpage

Here’s an example from the UW Financial Aid Webpage: http://www.washington.edu/students/osfa/prospectiveug/aid.estimator.php

Free Application for Federal Student Aid

Who qualifies for FEDERAL (U.S. Government) Financial Aid? Must be a U.S. Citizen (need a social security

number to apply) or have a “Green Card”/US Permanent Resident Status

Must earn a high school diploma or GED

WHAT’S FAFSA?:

1. Apply for a pin (ID) number now (www.pin.ed.gov) for you and your guardian/parent.

2. Complete your FAFSA form (www.fafsa.gov) beginning January 1st – the sooner the better!

3. Finish your FAFSA: Best to complete the application by Feb. 1

I need help with the FAFSA! FAFSA Completion Event at Hazen: Jan. 22nd, 5-7 p.m. If in doubt, call the FAFSA Helpline: 1-800-433-3243

STEPS TO COMPLETE A FAFSA:

WASFA: I AM A “DREAMER”What is the WASFA and how is it different from the FAFSA?

WASFA is: A free Washington Application for State Financial Aid

Who is eligible: Non-US Citizens (undocumented status) Graduate from a Washington State High School Have lived in Washington for 3 years before earning your high school diploma

Income requirements

Website: www.ReadySetGrad.org/WASFA Same timeline as FAFSA: Apply beginning January 1 – finish by Feb. 1

WHO QUALIFIES FOR GRANTS?

The State Need Grant is the funding for things like:College Bound Scholarship

WASFAYou may qualify for the State Need Grant programs if your family income is at or below:

1) College specific scholarships In addition to applying to the university, you need to complete the

FAFSA by Feb. 1 to be eligible for college-specific scholarships and their deadlines

Go to the specific college Financial Aid webpage for scholarships you may be eligible to receive

2) General scholarships: Your resources include The Wash Board (Washington state scholarship database):

www.Thewashboard.org fastWeb: www.fastweb.com Hazen Career Center College Board/Big Future: https://bigfuture.collegeboard.org/

SCHOLARSHIPS: THINK FEB. 1ST!

ARE YOU A COLLEGE BOUND SCHOLARSHIP STUDENT? If you are a College Bound Scholarship student:

Remember you must finish high school with a 2.0 cumulative GPA You must complete the FAFSA no later than Feb. 1 to claim your

College Bound Scholarship! Expect to receive an email (your “Match” email) from Washington

Student Achievement Council within 2 weeks of submitting your FAFSA, explaining your next steps in receiving your scholarship.

Question about your College Bound Scholarship? See Ms. Diep in the Career Center for individualized help!

WHAT HAPPENS AFTER YOU APPLY FOR FINANCIAL AID?

Via your email, you’ll receive a Student Aid Report (basically a summary of what you submitted) back from the federal processor; make sure there are no ERRORS

If you submitted your request before your parents finalized their taxes, log back in to your FAFSA and make final updates using the newest tax information

Respond to any requests for additional information

Check the financial aid webpage of the individual colleges you’ve applied to see if they will need any additional forms from you and to check their deadlines.

Each individual college you indicated on your FAFSA will send you an award letter

Compare your award letters to determine which is the best “deal”. See your counselor if you want help!

SAMPLE AID REPORT: AN EXAMPLE You may want to

decide which school to attend based on the various school Aid offers.

TO THE COMPUTER LABS!Take action now:

FAFSA: Create your PIN Number www.pin.ed.gov

WASFA: Create your account and start the registration process www.ReadySetGrad.org/WASFA

Scholarships:

Create a Washboard account to search for scholarships: www.thewashboard.org

Go to Big Future: www.bigfuture.collegeboard.org

EXIT TICKET

Your “exit ticket”: Complete this survey through Survey Monkey:

https://www.surveymonkey.com/s/XMS7BNS