Financial Aid

What Is It? How Do You Get It?

Disclaimer!

This is a QUICK OVERVIEW!

​

For more complete information check out some of these resources found the Financial Aid page of the Guidance Website:

• Full length Financial Aid Presentation - Finance Authority of Maine (FAME)
• Shorter videos on each part of the Financial Aid Process
• Links to handout/resources

​

Financial Aid

Definition: ANY money that will help you pay for the cost of college

• Loans: money you pay back
• Grants: free money usually given based on need
• Scholarships: free money usually given based on doing/being something “special” (grades, talent, etc)
• Work Study: money you earn from a job on campus

​

How To Get Financial Aid

2 Forms to Know About:

​

#1: FAFSA - FREE Application for Federal Student Aid

​

#2: CSS Profile

• Required by ALL colleges that give federal financial aid
• Created by the U.S. Dept. of Education
• FREE to complete
• Available on Dec. 1st
• Parent/Guardian section & Student section
• Links to the IRS to use your tax information
• FAFSA calculates your Student Aid Index (SAI) which is how colleges will calculate your NEED and then determine your financial aid

Completing the FAFSA is the key to unlocking free tuition at

Maine’s Community Colleges!

• Used by SOME colleges
• Created by the College Board
• Asks more details information about your family’s financial situation
• Available Oct. 1 of senior year
• Not free! $25 for first college, $16 for each additional college
• Fee waiver may be available if your family makes less than $100,000
• YOUR RESPONSIBILITY to know if any of your colleges will require it

After Completing the Forms

• YOU (not your parents) will receive information about your financial aid award from each school that you listed on your FAFSA.
• Compare financial aid awards from each school to determine the final cost.
• Some schools may require additional documentation - respond to requests immediately.

Financial Aid Tips

• Apply! Even if you think you don’t qualify
• Pay attention to deadlines!
• Check YOUR email - colleges communicate with YOU, not your parents
• Never pay for financial aid help - lots of free resources

​

Learn More About FAFSA

​

​

FAME is our state’s BEST resource for all things

financial aid related!

​

​

Free, Virtual Financial Aid Info Sessions:

• Sept 24, Oct 9, Oct 29 or Nov 18 at 6:00pm
• Register at FAME Events

Free, In Person Financial Aid Info Session:

• PRHS Auditorium, Wednesday, November 6 at 6:30pm

FAME YouTube Channel

​

Helpful Resources/Worksheets

​

Get Text/Emails from FAME - enter to win $1,000 scholarship!

​

FAME’s Parent Facebook Group - Paying for College for ME

​

Virtual Financial Aid Coaching

​

Customer Service: 1-800-228-3734

​