Financial Aid for College

Financial Aid for College

FAFSA- Information provided by Federal Student Aid- U.S. Dept. of Education

What is federal student aid?

• It’s money from the federal government that helps you pay for college, career school, or graduate school expenses. Federal student aid is available through grants, work-study funds, and loans.

How do I apply for aid?

You need to complete the Free Application for Federal Student Aid (FAFSA®) form by

-Logging in at fafsa.gov to apply online

-Filling it out in the myStudentAid mobile app

-Or completing and mailing the FAFSA PDF.

Students and parents will need an FSA ID (account username and password) to sign the form through the mobile app and online. You’ll also use your FSA ID to access information about your financial aid on U.S. Department of Education websites. You can create an FSA ID in advance or while you fill out the FAFSA form. To find out more about the FSA ID, visit StudentAid.gov/help-center/answers/article/fsa-id.

Multiple Choice

Does it cost money to file your FAFSA application?

• Yes

• No

Multiple Choice

What does the acronym FAFSA mean?

• Financial Application for Free Student Assistance

• Free Application for Federal Student Aid

• Free Assistance for Fast Student Approval

• Formal Application for Federal Student Assistance

Multiple Select

Check all items you should have when you fill out your FAFSA form.

• Social Security Number

• W-2 Tax Document

• FSA ID- Username and Password

• List of schools you are interested in

• Students under 24 years old- Parents FSA ID and tax documents

When should I apply?

• Each October, the FAFSA form is available for the next school year. You’ll need to reapply for aid every year you are in school. Here’s a summary of key dates for submitting the FAFSA form depending on when you plan to go to school-->

Multiple Choice

The FAFSA application becomes available starting...

• January 1

• December 31

• May 1

• October 1

Multiple Select

Filling out the FAFSA qualifies you for...(multiple answers)

• federal grants

• federal loans

• work study opportunities

• private loans

• merit-based scholarships

Federal Grants: Money that doesn’t have to be paid back

Federal Pell Grant Up to $6,345 for the 2020–21 award year- For undergraduates with financial need who have not earned a bachelor’s or professional degree. For details and updates, visit StudentAid.gov/pell-grant.

Federal Supplemental Educational Opportunity Grant (FSEOG) Up to $4,000 a year- For undergraduates with exceptional financial need. Federal Pell Grant recipients take priority. Funds depend on availability at school. For details and updates, visit

StudentAid.gov/fseog.

Federal Grants: Money that doesn’t have to be paid back

Iraq and Afghanistan Service Grant Up to $6,345 for the 2020–21 award year- For undergraduate students who are not Pell-eligible and whose parent or guardian died as a result of military service in Iraq or Afghanistan after the events of 9/11. For details and updates, visit. For details and updates, visit StudentAid.gov/iraq-afghanistan.

Teach Grant- For students who are completing or plan to complete course work needed to begin a career in teaching. To receive a TEACH Grant, a student must agree to teach for four years in a high-need field at an elementary school, secondary school, or educational service agency that serves low-income families. If a student doesn’t complete the teaching service requirement, all TEACH Grants the student received will be converted to a Direct Unsubsidized Loan that must be repaid, with interest. For details and updates, visit StudentAid.gov/teach.

Multiple Choice

Grant money must be paid back.

• True

• False

Federal Work-Study:

Money is earned through a job and doesn’t have to be repaid.

Your total work-study award depends on:

-when you apply,

-your level of financial need

-your school’s funding level.

Poll

Would you consider Work-Study?

• Yes because I would make money and gain work experience.

• No because I already have already job or I personally have no interested in working while in school

• I don't know, I will want to explore more about Work Study.

Federal Student Loans:

These are loans that accumulate interest; they must be repaid. 

Direct Subsidized-

Loan For undergraduate students who have financial need. A student must be enrolled at least half-time. 

Direct Unsubsidized Loan-

For undergraduate and graduate or professional students. A student must be enrolled at least half-time. Financial need is not required.

Direct Plus Loans

For parents of dependent undergraduate students and for graduate or professional students. A student must be enrolled at least half-time. Financial need is not required.

Multiple Choice

Federal loans do not need to be paid back.

• True

• False

I completed the FAFSA® form. Now what?

After you submit your FAFSA form, you’ll receive a Student Aid Report (SAR) that summarizes the data you submitted. If you provided a valid email address in your application, you’ll receive an email with instructions on how to access an online copy of your SAR within three days (if you apply at fafsa.gov or through the myStudentAid mobile app) or three weeks (if you mail in a paper FAFSA form).

I completed the FAFSA® form. Now what?

When you receive your SAR, review it to make sure you didn’t make any mistakes on your FAFSA form.

• If you don’t need to make any changes to the information on your SAR, just keep it for your records.

• To find out how to correct mistakes or make updates to your FAFSA form, visit StudentAid.gov/apply-for-aid/fafsa/review-and-correct or contact the school to which you are applying.

The information in your SAR will be provided to the schools you listed on your FAFSA form. You will receive an aid offer from the schools at which you were accepted for admission.

What’s an aid offer and how much aid will I get?

If you applied for admission to a college or career school you listed on your FAFSA form, that school will get your FAFSA information. The school will calculate your aid and send you an aid offer (often electronically). Most schools will wait to send you an aid offer only after they accept you for admission.

What’s an aid offer and how much aid will I get?

The aid offer will tell you how much aid you’re eligible to receive at that school and will include the types and amounts of financial aid you may receive from federal, state, private, and school sources. This combination of help from different sources is your financial aid package. How much aid you receive depends on some factors, including 

• cost of attendance (for each school);

• Expected Family Contribution (EFC)—the EFC does not represent a dollar amount but, instead, it’s a number used to calculate how much financial aid you’re eligible to receive based on your FAFSA information;

• year in school; and

• your enrollment status (e.g., full-time, half-time, etc.).

How will I receive my aid?

Your college or career school—not the U.S. Department of Education—will distribute your aid. In most cases, your federal student aid will be applied directly to your school account. The financial aid staff at your school will explain exactly how and when your aid will be disbursed (paid out).

What else do I need to remember when applying for federal student aid?

-Only borrow what you need and what you can afford to pay back.

-Your FAFSA information has to be correct to ensure that you receive your aid promptly and in the right amount.

-Always respond to (or act upon) any correspondence your school sends you—and meet all deadlines.

-Contact the school if you’re interested in school or state grants.

Multiple Choice

If you receive financial aid after completing your FAFSA form any funding will be sent to...

• The college or career school you choose to attend.

• Your home address.

• The bank account you listed.

Free Help Is Available

Free help is available any time during the application process. Online help is available while you complete your application at fafsa.gov. You can also get free information and help from your school counselor, the financial aid office at the school you plan to attend, or the U.S. Department of Education at StudentAid.gov or 1-800-4-FED-AID (1-800-433-3243; TTY for the deaf or hard of hearing 1-800-730-8913). You should never have to pay for help!