presented by: financial aid office los angeles mission...
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Presented by:Financial Aid OfficeLos Angeles Mission College
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Students and parents are considered the primary sources for funding a college education and are expected to contribute to the extent they are able
Financial aid measures a family’sability, not willingness, topay for a college education
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Financial aid is supplemental to the family’s resources, student earnings, and assistance from other sources
Do not expect financial aid tomeet basic living needs
Financial aid is intended to payfor education‐related expenses
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Cost of AttendanceExpected Family Contribution (EFC)
Financial Need
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Tuition & Fees
Books & Supplies
Room & Board
Personal Expenses
Transportation
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The Expected Family Contribution (EFC) is the amount a family (student and parents) is expected to contribute, based on income and assets, to the total cost of a student’s education
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Cost of Attendance‐ Family Contribution= Financial Need
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CCC CSU UC PrivateCost $12,000 $24,000 $32,000 $55,000EFC 3,000 3,000 3,000 3,000 Need $ 9,000 $21,000 $29,000 $52,000
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Gift Aid ‐ Grants or scholarships thatdo not need to be repaid
Work ‐Money earned by the student aspayment for a job on or off campus
Loans ‐ Borrowed money to be paid backwith interest
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Federal Government State Governments Colleges and universities Private organizations/agencies High school clubs and organizations Local clubs (Lions, Elks, VFW, etc.) Scholarship foundations Employers
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Federal Pell Grant Federal Supplemental Education Opportunity Grant (FSEOG)
TEACH Grant Federal Work‐Study (FWS) Federal Direct Stafford student loans Federal PLUS (Parent) loans
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California residents attending California colleges may qualify for: Cal Grant A, B or C Board of Governors enrollment fee waiver (BOG) (at CA Community Colleges)
Middle Class Scholarship (UC and CSU schools) Chafee Grant‐ available for current or former foster youth
March 2nd deadline for FAFSA* + GPA!(* or California Dream Act application)
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AB540 eligible students may be eligible (due to the passing of AB130 & AB131), to apply for state and private financial aid: Private scholarships Cal Grant A (Entitlement) Cal Grant B (Entitlement) Board of Governors (BOG) Fee Waiver
www.caldreamact.org
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www.caldreamact.org
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FAFSA (Free Application for Federal Student Aid)
www.fafsa.gov
Cal Grant GPA Verification
Most high schools submit GPAs electronically!
CSS Financial Aid PROFILE
www.collegeboard.com
Other required institutional forms
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FSA ID is a username and password used to log into USDE websites FAFSA on the Web (www.fafsa.gov)
My Federal Student Aid (www.studentaid.gov/login)
StudentLoans.gov
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“Save Key” is not FSA ID
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The FAFSA & CA Dream Act applications now use the relationship of the parent to the student, vs. the legal relationship between parents for the basis of collecting informationRelationship of Student to Parent Includes both parents’
incomes on the app?Only includes one parent’s income on the app?
Parents married, living together YES NO
Parents not married, living together YES NO
Parent is widowed, not remarried NO YESParents are divorced or separated, not living together
NO YES (include the parent the student lived with most during the last 12 months. If equal time, include the income and assets from the custodial parent who provided most of the student’s financial support during the last 12 months)
Parent and step‐parent, living together YES NO
Legal guardians* NO NO
Foster Parents* NO NO
Grandparents, brothers, sisters, uncles, or aunts* NO NO
“Parent” means biological/adoptive parent – gender of biological or adoptive parents is not relevant.*Students living with legal guardians, foster parents, or relatives are usually considered to be independent students, unless adopted.
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Used by some independent colleges Used to award college‐funded grants and scholarships (non‐
federal or state aid) Requires more detailed information than the FAFSA Submit PROFILE online at:
www.collegeboard.com $25 registration fee, includes reporting to one college $16 reporting fee for each additional college Fee waiver eligibility determined automatically online Some colleges in California using the PROFILE:
USC, Stanford, Occidental, CalTech, Santa Clara, Cal Arts, the Claremont colleges
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Available from colleges, companies, community‐based and other organizations
Require separate applications May require transcript, essay, interview, or audition
Check with your high school counselor about scholarship opportunities through the high school
Make use of free online web resources Beware of scholarship search companies that charge a fee
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FastWeb.com BigFuture.CollegeBoard.org Scholarships.com CollegeAnswer.com ScholarshipExperts.com StudentScholarshipSearch.com
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Submit the FAFSA and other forms College determines need & eligibility College packages financial aid College sends award letter (award offer) Family reviews and compares offers Student selects their school; accepts/ declines self‐help financial aid
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Contact the Financial Aid Office if there is a change in circumstances such as: A loss or reduction in parent or student income or assets A death or serious illness Unusual medical or dental expenses not covered by insurance
Reduction in child support or other non‐taxable income or benefits
Financial responsibility for elderly grandparents Other circumstances that affect your ability to contribute
Each school may handle/accept your circumstances differently!
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Consider all factors, not just cost, when choosing your college! Academic program Campus feel Opportunities for campus involvement Employment placement assistance
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Still have some questions? CALL US! Every college has a Financial Aid Office
For those on the internet: www.studentaid.gov www.calgrants.org www.lamission.edu/financialaid www.lacashforcollege.org
Call the Federal Student Aid Information Centerat 800‐433‐3243
See your school counselor
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FAFSA Nite presentation(PDF document)
Bit.ly/FAFSANite1617
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Presentación FAFSA Nite(Documento PDF)
Bit.ly/FAFSANite1617‐Spanish