What is Financial Aid Types Where does come
- Slides: 12
What is Financial Aid? § Types § Where does $ come from § Purpose § Who can get it
How to Apply üFile Taxes üFAFSA www. fafsa. gov üCSS Profile www. collegeboard. org üPriority Deadlines
Reviewing the Offer § How much is a “gift” § What is the total amount billed? § What other expenses will you have?
College A Sample Aid Letter Cost: Tuition: $6, 500 Fees: $1, 200 Room: $5, 200 Board: $4, 000 Books & Supplies: $1, 800 Travel & Misc. : $1, 300 ___________ Financial Aid: College A Scholarship: $9, 500 Pell Grant: $1, 250 State Grant: $1, 250 Total Cost of Attendance: $20, 000 Total Aid: $12, 000 _____________
College A Sample Aid Letter Cost: Tuition: $6, 500 Fees: $1, 200 Room: $5, 200 Board: $4, 000 Books & Supplies: $1, 800 Travel & Misc. : $1, 300 Financial Aid: College A Scholarship: $9, 500 Pell Grant: $1, 250 State Grant: $1, 250 ___________ Total Cost of Attendance: $20, 000 ____________ Total Aid: $12, 000 Billed expenses = $16, 900 Gift aid = $12, 000 Amount owed College A: $4, 900
College B Sample Aid Letter Cost: Tuition: $12, 200 Fees: $2, 800 Room: $8, 500 Board: $4, 000 Books & Supplies: $3, 500 Travel & Misc. : $2, 200 ___________ Financial Aid: College B Scholarship: $15, 000 Pell Grant: $1, 250 Federal Subsidized Stafford Loan: $3, 500 Federal Unsubsidized Stafford Loan: $2, 000 Federal Work Study: $3, 000 *Parent PLUS Loan: $8, 450 ____________ Total Cost of Attendance: $33, 200 Total Aid: $33, 200
College B Sample Aid Letter Cost: Tuition: $12, 200 Fees: $2, 800 Room: $8, 500 Board: $4, 000 Books & Supplies: $3, 500 Travel & Misc. : $2, 200 ___________ Financial Aid: College B Scholarship: $15, 000 Pell Grant: $1, 250 Federal Subsidized Stafford Loan: $3, 500 Federal Unsubsidized Stafford Loan: $2, 000 Federal Work Study: $3, 000 *Parent PLUS Loan: $8, 450 ____________ Total Cost of Attendance: $33, 200 Total Aid: $33, 200 Billed expenses = $27, 500 Gift aid = $16, 250 Amount owed College B: $11, 250
Factors that Impact Aid • Family Special Circumstances • # In College • Outside Scholarships • FAFSA vs PROFILE • Early vs Regular Decision • Net Price Calculator