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LEAF Financial Aid 101

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									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%

								
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