Financial Aid Department Applying For Financial Aid Financial

Financial Aid Department Applying For Financial Aid

Financial Aid Department What Types of Financial Aid Are Available?

Types of Financial Aid Grants • Gift aid for undergraduate students. Funds are granted to students based on need and do not have to be repaid. Work Study • Students earn money from employment arranged by the school. Scholarships • Funds that can be used to pay for various college related expenses. Scholarship requirements vary and are determined by the grantor. Federal Stafford Loans • Loans offered to students to assist in payment of the costs of education. These loans usually carry a lower interest rate than other loans (i. e. private educational loans, signature loans, etc. )

Financial Aid Department How do I apply for Financial Aid?

FAFSA • Complete the FAFSA (Free Application for Federal Student Aid). – Go to www. fafsa. gov or www. fafsa. ed. gov – The FAFSA is used to determine eligibility for financial aid (grants, scholarships, work-study, Stafford loans). It does not cost any money to apply for financial aid

Financial Aid Department What do I need to complete the FAFSA?

Apply for A PIN • Students and Parents must individually apply for a PIN (personal identification number). – Go to pin. ed. gov – The PIN number can be used each year to electronically apply for federal student aid and to access your Federal Student Aid records online.

Dependency Status Know your Dependency Status • A student’s dependency status determines what types of documents will be needed to complete the FAFSA. Answering No to any of these questions means that you are a Dependent Student

Financial Aid Have Tax Information Ready • Dependent students will need their parent’s tax returns along with their own tax information (if the student worked). • If the parent will not file taxes for the current tax year the student must show the parent supported the student. • If parents are divorced, the student will need the tax information of the parent that provides support for the student 50% or more of the time, or resided with for more then half the year.

Financial Aid • Conformation Page EFC # ? ? ?

Financial Aid Department I Have Completed the FAFSA. How Do I know if I am Eligible?

After Completing the FAFSA After completing the FAFSA • Contact the College!! There may be additional forms to complete. • Understand FERPA Laws. • Under the FERPA Law, colleges are not permitted to release information to parents without the written consent of the student. • (includes grades, course enrollment, admissions, financial aid, etc)

Tips and Helpful Hints • Find out if the college has priority deadlines • *Always Apply Early* • Some grants are awarded on a first-come-first-serve basis. • Most Scholarships have early deadlines. • It takes about 30 -45 minutes to complete the FAFSA – If necessary, you can save the application and complete it at a later time. The application will be safely saved for up to 45 days. • Read the questions thoroughly. • Answer questions truthfully and accurately. – Zero’s “ 0” are ok.

Lone Star College Financial Aid Question and Answer Time!