Docstoc

LEAF Financial Aid 101

Document Sample
LEAF Financial Aid 101 Powered By Docstoc
					LEAF Financial Aid 101




  “LEAF links students to
resources that open doors to
     higher education”
              LEAF is a …
    Non-profit college access agency serving
students of all ages in Lake and Geauga Counties.
• Our services are free to
  students and parents.
• Advisors are at the high
  schools
• Evening and Saturday
  appointments in the LEAF
  Resource Center
Seniors will have a busy year


Getting into and
  financing your
  higher education
  takes a lot of
  paperwork!
Timeline to keep on track
             The “secret” to a
                 successful
               application and
                financial aid
                process is to
                  meet the
                DEADLINES!
Fall of Senior Year
Get a file or box …
          • College applications
          • Scholarship
            applications
          • Financial aid forms
            and applications
          • Tax information
            used to complete
            applications
   Organize your thoughts,
            too…
• After visiting
  campuses,
  researching college
  information, collect
  your thoughts on an
  application
  organizer.
    Update student resume
• List all activities,
  honors,
  achievements in
  and out of school
  since 9th grade to
  prepare for
  college and
  scholarship
  applications
                         Apply
Obtain college admission
  applications
Read the college viewbooks
   – What is the admission
     deadline? (could be 2
     deadlines – the earlier one is
     to be considered for merit
     aid)
   – How much does the school
     cost?
   – Is there a separate
     application for merit aid?
Application tips
       • College admission app
         fees sometimes are
         waived if the student
         attends an open house or
         applies online.

       • LEAF offers waivers for
         application fees based on
         income eligibility
         guidelines. (College apps
         and SAT/ACT tests)
What else can I do right
         now?
Obtain a PIN
      • www.pin.ed.gov
      • Personal Identification
        Number from the US
        Dept of Education
      • Obtain PIN for
        student and one
        parent
      • Electronic signature
        for FAFSA
Request Recommendation
        Letters
           • From Teachers (the
             ones that like you)
           • Employers
           • Supervisor from
             volunteer work
           • People that can speak
             highly of you – but not
             your family!
     Know your high school’s
            process
• Where to obtain
  college and scholarship
  applications
• How are students
  informed of new
  scholarship
  applications? Listen to
  PA announcements this
  year!
• Requesting transcripts
• Turning in college and
  scholarship
  applications
 Take or Retake
the ACT or SAT


        • A higher score can
          = more merit aid.
Look for Scholarships
           • Begin looking NOW for
             applications at your
             high school guidance
             office
           • LEAF website
             www.leaf-ohio.org for
             a local directory
           • Internet searches for
             National databases
       Scholarships Part 2
• Competitive
• Takes a lot of
  effort (but can be
  worth it!)
• Best place to
  look…at your high
  school
• Next best
  place…the college
Winter
Financial Aid Process
     • After January 1, apply for
       Federal and State aid with
       the FAFSA (Free
       Application for Federal
       Student Aid)

     • Most colleges use this
       application for their need-
       based aid, too.
The Financial Aid Officer
             • The college
               financial aid office
               administers the
               federal and state
               aid programs
             • They do consider
               special
               circumstances
Filing the FAFSA
        • FAFSA deadline is
          set by the college
        • Get your taxes
          done early
        • If you file your
          taxes 4/15,
          estimate income on
          the FAFSA
          Filing the FAFSA
• FAFSA on the Web
  the best way to file
• www.fafsa.ed.gov
• Mailing paper FAFSA
  still an option
• Beware of Internet
  sites using the FAFSA
  name and charging a
  fee to complete it!
Who is the Parent?

        • Married
        • Divorced/single
        • Remarried/stepparent
        • Live with during the
          last 12 months
        • 50/50
     What about becoming
       Independent?
• 24 years old
• Graduate degree
  work
• Married
• Have child or
  dependent
• Orphan or ward of
  the court
• veteran
     The FAFSA looks at…
• Student income   • Parent(s) income
  from 2002 tax      from 2002 tax
  information        information
• Untaxed income   • Untaxed income
• Assets           • Assets
What Does the FAFSA Do
   With That Info?
           • Calculates the
             Expected Family
             Contribution (EFC)
           • How much can the
             family afford in a
             given year to
             educate the
             student?
 The EFC and Financial Need
College Costs
  Tuition
  Room and Board
  Indirect Expenses

  - EFC
  = Financial Need
Filing the FAFSA does not
complete the aid process!!
             • Award letter from the
               college
             • Respond to the award
               letter by the deadline
             • 30% selection for
               verification
             • Loan papers
             • Option of payment
               plans
Types of Financial Aid

Gift Aid       Self-Help Aid
                    Loans
  Grants
                Work Study Job
Scholarships
Sources of Financial Aid

           6%

                     Federal
             18%     State
75%                  Institutional
                     Private
            1%

				
DOCUMENT INFO