Success doesnt come to you you go to

Success doesn’t come to you, you go to it. FINANCIAL AID – Marva Collins

Financial Aid “the Basics” I probably don’t qualify for aid, should I apply anyway? Yes – Most people don’t think they qualify BUT THEY DO and you need to file to get specific loans Do I have to re-apply for financial aid every year? Yes – Most schools will send a renewal application after the first year – material changes will have an impact What is earliest date, I can submit my financial aid paperwork? Oct. 1 st – of student senior year and NOT before Do I need to start the financial process before Senior Year? Yes – You need to know before you start looking at schools; if you can lower your EFC you need to start as early as Sophomore year

Financial Aid MERIT-BASED Scholarships awarded to recognize outstanding academic performance, talents or leadership. HOW IS IT AWARDED? NEED-BASED Gift Aid = Scholarships Awarded to those who demonstrate financial need. HOW IS IT AWARDED? Gift Aid = Scholarships & Grants Self Help = Student Loans & Work Study 3

Financial Aid -What type of family are you? 1. High Merit/ Low Need 2. Low Merit/ Low Need 3. High Merit/ High Need ? 4. Low Merit/ High Need

Calculating Financial Aid How do the colleges determine if my student is eligible? COA Tuition & Fees Room & Board Books Transportation Miscellaneous Expenses $60, 000 § § - EFC Parent Income Parent Assets Student Income Student Assets $20, 000 = Need The Maximum Amount of Need-Based Aid a Family May Receive $40, 000 Some Schools Will Meet 100% of Need - Some 30 -50% or Less Some Schools Will Modify Your Need! 3 Methodologies for Figuring Out EFC: Federal (FM), Institutional (IM), Consensus (CM) You MUST Know These Statistics Before Applying!

Financial Aid - Applications and Formulas FAFSA CSS Profile (Majority of Schools) (Select Elite Colleges) Federal Formula (FM) Institutional Formula (IM) fafsa. ed. gov October 1 st collegeboard. org October 1 st 6

Financial Aid for the Class of 2020 + Financial Aid for class of 2019 College Begins Fall 2020 College Admission Applications Fall 2019 FAFSA Available October 1, 2019 Tax Year Figures Used (Base Year) 2018 (Prior, prior year) Asset Figures Used As of the day you file (Apply by Nov. 1 st) (File by Nov. 1 st) 7

What about scholarships? Scholarships paid for 31% ($155 Billion) of the total cost of education Private Scholarships 13% Institutional Grants and Scholarships 86% Athletic Scholarships 1% *How America Pays for College 2014 Sallie Mae 8

Merit Aid = Gift Aid Institutional Scholarships Competitive Grid/Automatic Package

What about outside scholarships? Stackable / Blendable Can be found anywhere Mhsccc. com has a list of scholarships under opportunities

Know the Financial Fit First & Know Before You GO!

Merit vs. Need based financial aid policy Merit Based Aid 100% of Need Met www. collegedata. com

Quinnipiac University ($63, 770) – College Board 13

University of Connecticut ($31, 044) – College Board 14

Yale University ($68, 950) – College Board 83 Schools

Where to start… • Create a FSA ID for student and parent • Complete the FAFSA (Free App for Federal Student Aid) • Application opens October 1 of senior year • Apply as soon as possible: Schools and states often use FAFSA information to award nonfederal aid and their deadlines vary. • Need Social Security number on file at Chatahoochee for FAFSA and HOPE

Parent Seminars Held in the Media Center ØOctober 9 th, 6: 30 PM – Understanding Financial Aid & FAFSA ØNovember 14 th, 6: 30 PM – College Planning 101 Webinar: ØOctober 8 th, 7: 00 PM – Understanding Financial Aid/ FAFSA / CSS Profile Forms Ø October 10 th, 7: 00 PM – UGA vs. GA TECH –The Key Strategies for Admissions Register for a FREE Workshop: https: //peachtreecollegeplanning. com/event-registration-2/