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Stay on track with VSAC

While you’re waiting for the presentation to begin,

• important reminders, tips & deadlines

• free college planning resources

• info on grants, scholarships & loans

• links to online applications, and more

vsac.org/signup

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Financial Aid Workshop with VSAC

Financial Aid Overview
Applications

VT Grant
VSAC Scholarships
FAFSA

Create your FSA-ID

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FINANCIAL AID & MANAGING COLLEGE COSTS

Types of Financial Aid

FINANCIAL AID & MANAGING COLLEGE COSTS

Grants

Scholarships

Work-study

Loans

Define each of these terms briefly and note that even loans are considered financial aid.

Grants – free money, usually based on a student’s financial need.
Scholarships – free money, usually based on grades, a student talent or ability (portfolio, audition, athletics, community service, etc). Scholarships might be awarded by a college as part of the admissions process, but there are other scholarships students can apply for through VSAC and in their local community.
Work study – students are deemed to be eligible to work and earn money toward personal expenses at school (usually NOT paid toward the student bill, unless the student chooses to walk that paycheck down to student financial services). It does not guarantee a job or earnings: students must get a job and work the hours to be paid.
Loans – just like they sound. Borrowed money to help pay educational costs – involves interest rates and repayment terms.

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determining financial need

Grant applications
Scholarship applications

Local
VSAC Book

Free Application for Federal Student Aid (FAFSA)

*CSS Profile (check your colleges!)

FINANCIAL AID & MANAGING COLLEGE COSTS

Financial Aid Applications

FINANCIAL AID & MANAGING COLLEGE COSTS

Objective: Brief overview of financial aid application forms

Please remember that even though you may have determined your net price at a college, this is only an estimate. To be eligible for financial aid, a student MUST apply, and there are a number of applications students may need to fill out.

The applications serve as a starting point for colleges and agencies to identify your ability to pay.
There are several applications you’ll need to complete – samples are above, we’ll go into more detail in the next few slides.
Forms are required to be eligible for grants, some scholarships, and loans.
Important to know every college may need something different; It is the student’s responsibility to know who wants what, where, and when. Families can and should talk about who is responsible for finding out deadlines, filing applications and responding to requests for information.

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how and when to apply — FSA ID

Open to all Vermont residents on October 1st
This year’s Seniors: 2026-2027 version (the year you’ll attend college).
Required for Vermont grant aid.
Apply early, check status online, and complete “To Do” list.
Can fill out forms online, upload documents.
Students must create MyVSAC account �before applying.

File your Vermont grant application

Vermont Grant

FINANCIAL AID & MANAGING COLLEGE COSTS

Take the Vermont grant with you —

to in-state & �out-of-state colleges

Objective: Vermont grant detail

A need-based grant the state of Vermont has available to Vermont residents.
NOTE: the Vermont grant is referred to in many ways: VSAC grant, Vermont incentive grant, Vermont grant.
Normally, the VT Grant application opens on October 1- not sure about this year, but we will keep you posted as we know more.
Usually Vermont has about 19-20 million available a year for grants for VT Students, appropriated by the state legislature

Application available was of October 1, 2022 for the 2023-2024 academic year. Not certain what will happen this cycle, but stay tuned!
student must apply for (and complete) the grant in order for us to determine eligibility and actual grant amounts.
Funding is limited, important to apply early before funds run out.
The Vermont grant is portable. The Vermont grant can be used out of the state at all colleges that are eligible for federal financial aid in the US and a few colleges in Canada. **this money is currently appropriated to support students and student choice** Note: dollar amounts of the grant may vary at out of state colleges

You will not be considered until you apply and submit all requested information.

While some colleges and universities provide VT Grant estimates on their award letters, student must send in all requested information in order for us to determine eligibility and actual grant amounts.

NOTE: people might ask “do I have to file a VT Grant application? I don’t think we’ll qualify.”

1) it is worth it to apply at least the first year to see if you qualify. We believe many students who would qualify don’t apply and are missing out on free money from the state of VT. The application is pretty simple, and we get a lot of information from the student’s FAFSA, so it is worth the small time investment to see.
2)If a student wasn’t eligible before, but now there are 2 in college, they might qualify now.
3) it’s always good to file a VT Grant application and have it on file at VSAC: this way, if a special circumstance occurs, the form is already on file with VSAC and the student/family can appeal from there, instead of starting from scratch, and possibly missing being able to apply. VSAC awards the VT Grant first-come, first-served, so if a student applies late, they might miss out on money they could have been eligible for.

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how and when to apply — FSA ID

Open to all Vermont residents on October 1st (book & PDF)
Unified Scholarship Application (USA)
FAFSA is required!

You can fill out the USA while waiting for the FAFSA to go live

Upload required documents
Deadline = February 11th 2026
Students must create MyVSAC account �before applying.

File your Unified Scholarship Application

VSAC Scholarship Book

FINANCIAL AID & MANAGING COLLEGE COSTS

Objective: Vermont grant detail

A need-based grant the state of Vermont has available to Vermont residents.
NOTE: the Vermont grant is referred to in many ways: VSAC grant, Vermont incentive grant, Vermont grant.
Normally, the VT Grant application opens on October 1- not sure about this year, but we will keep you posted as we know more.
Usually Vermont has about 19-20 million available a year for grants for VT Students, appropriated by the state legislature

Application available was of October 1, 2022 for the 2023-2024 academic year. Not certain what will happen this cycle, but stay tuned!
student must apply for (and complete) the grant in order for us to determine eligibility and actual grant amounts.
Funding is limited, important to apply early before funds run out.
The Vermont grant is portable. The Vermont grant can be used out of the state at all colleges that are eligible for federal financial aid in the US and a few colleges in Canada. **this money is currently appropriated to support students and student choice** Note: dollar amounts of the grant may vary at out of state colleges

You will not be considered until you apply and submit all requested information.

While some colleges and universities provide VT Grant estimates on their award letters, student must send in all requested information in order for us to determine eligibility and actual grant amounts.

NOTE: people might ask “do I have to file a VT Grant application? I don’t think we’ll qualify.”

1) it is worth it to apply at least the first year to see if you qualify. We believe many students who would qualify don’t apply and are missing out on free money from the state of VT. The application is pretty simple, and we get a lot of information from the student’s FAFSA, so it is worth the small time investment to see.
2)If a student wasn’t eligible before, but now there are 2 in college, they might qualify now.
3) it’s always good to file a VT Grant application and have it on file at VSAC: this way, if a special circumstance occurs, the form is already on file with VSAC and the student/family can appeal from there, instead of starting from scratch, and possibly missing being able to apply. VSAC awards the VT Grant first-come, first-served, so if a student applies late, they might miss out on money they could have been eligible for.

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how and when to apply — FSA ID

Required.
New version opens October each year
This year’s Seniors: 2026-2027 version (the year student will attend college).
Check college deadlines.
Up to 20 colleges can be listed to receive FAFSA information.

File your FREE Application for Federal Student Aid (FAFSA)

FAFSA

FINANCIAL AID & MANAGING COLLEGE COSTS

Objective: FAFSA Detail

main financial aid form that will gather both parent and student financial information, income (taxed and untaxed), assets, family size, number in college, age of the older parent.
Filing the FAFSA is free - www.fafsa.ed.gov. Emphasize --- THERE MAY BE some fee-based sites that you want to be careful of…
This application is required by all colleges that have federal financial aid available to you
The student is the FAFSA filer – for dependent students, parent information will be required on the form.
Because applications for two academic years will be available, it is important to complete the right application for the year you are applying for financial aid. This year’s seniors will be choosing the application for 2023-2024 academic year.
Deadlines vary from college to college, again it is very important to determine when each deadline is for each college you will be applying to. Again, pick the earliest deadline as the date to complete your FAFSA.
You have to file a FAFSA for each year you wish to be considered for financial aid.
Room for up to TWENTY (20) schools to receive your information

2^nd Objective: when

Deadlines are important with applications!

the first day federal and state applications can be completed for financial aid is usually October 1. However, this year with ALL of the FAFSA changes coming, it’s predicted to take longer to get the system updated and working the way it should. The opening date for the FAFSA will be delayed this year, but as of next school year, we will be back to an October 1 open date.

Important to use the correct form for the correct academic year

FUN FACTS/QUOTES:

“Not filing the FAFSA is like telling the college financial aid office you are willing to pay the full price.” (our own Stacey King!)
According to research done by the University of Chicago, students accepted to college(s) who complete a FAFSA are 50% more likely to enroll in college than students who did not file a FAFSA.

NOTE: people might ask “do I have to file a FAFSA? I don’t think we’ll qualify.”

1) Some colleges ask that all scholarship applicants file a FAFSA to make certain all other aid resources have been applied for and exhausted
2) If a student needs/plans to take out a student loan, you must file a FAFSA to qualify for federal student loans
3) it’s always good to file a FAFSA and have it on file at the college: this way, if a special circumstance occurs, the form already with the college aid office and the family and aid office can work from there, instead of starting from scratch.

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how and when to apply — FSA ID

Every student applying for federal aid must create an FSA ID account. At least one parent of any dependent student must also create their own FSA ID account.
Takes time to set up: �More security = more questions.
Will also set up Two-Factor Verification to access Federal Aid account information.
Use non-school email address
Must be verified in advance of FAFSA.

How & when to apply — FSA ID

FINANCIAL AID & MANAGING COLLEGE COSTS

The FSA ID is your electronic signature to confirm information is from you and is accurate: it is used for signing the FAFSA, federal student loan agreements and “agreement to serve” documents (TEACH Grant).

This is one thing you and your high school student (or high school junior and your parent) can do NOW to be ready to file the FAFSA during the senior year. You just need to save those usernames and passwords and remember where you are keeping them! FOR FALL PRESENTATIONS, this is something HS seniors and parents should do – strive for AT LEAST 5-7 business days BEFORE FILING YOUR/YOUR CHILD’S FAFSA.

Two-factor verification is another new feature which began last year; it’s just another way that Federal Student Aid is making certain your family’s information is secure in this process. Every time you use your FSA ID, you will be prompted to do Two-factor verification (also known as multi-factor authentication). What this means is that after logging in with your FSA ID, you will be prompted to send either a text or email code to you to verify it is, indeed you.

If a parent signed up for an FSA ID for an older child, the parent will re-use their FSA ID to sign younger children’s FAFSAs. The parent does not need a new one.

This is a GREAT time to talk about how the FSA ID and other electronic signatures and accounts require an email address. MOST HS students will lose their school email addresses after they graduate. NOW is a great time to create a college-ready free email address that the student will use and check for admission, financial aid, scholarship and job applications.

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how and when to apply — FSA ID

Do well in school.
Challenge yourself.
Increase school and community involvement.
Communicate special circumstances to financial aid offices and VSAC.
Research scholarships.
Apply for scholarships.

Maximizing financial aid

FINANCIAL AID & MANAGING COLLEGE COSTS

Ultimately, your academic performance can have an impact on merit-based aid – merit-based financial aid is normally dependent on things like a student’s grades, talent, or a college needing students from different geographic locations. Take advantage of opportunities. You don’t have to be the valedictorian to qualify for merit-based aid.

Consider applying to a college or two where you are considered on the high end of college admission demographic.

The FAFSA is a “just the facts” document. If your family has extenuating circumstances that aren’t collected or shown on the FAFSA, communicate about those with the college financial aid offices and the VT Grant program at VSAC.

Don’t just research those scholarships! Apply for them! VSAC administers a number of scholarships that students can apply for using ONE Unified Scholarship Application (USA), and the student’s MyVSAC account.

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Look farther (in state, other states, Canada).
Dual enrollment
Early college
Advanced Placement
Start at a school that costs less, then transfer.
Consider attending local and commuting.
Consider service.

Ways to reduce costs

FINANCIAL AID & MANAGING COLLEGE COSTS

Once you’re ready for college, take advantage of free or low cost opportunities for more college credits!

Each bullet should be explained. AP (Advanced Placement) and NEBHE – New England Board of Higher Education (administers the New England Regional Student Program) should be defined.

“start at a school that costs less…” involves planning and communication with the other college to make certain courses are taken that can transfer so the student doesn’t spend additional time in college.

“consider attending local,” Not all students can do this, BUT, room and board can cost anywhere from $10K to $15K per year. That could mean significant savings for a student who chooses to do this.

Consider Service –

VERMONT NATIONAL GUARD TUITION BENEFIT PROGRAM

If you do not know what this is, become familiar with it here: https://www.vsac.org/pay/student-aid-options/scholarships/military-servicemembers. One-year free tuition (VSCS and UVM) in exchange for two years’ service.

AMERICORPS – sponsored by the Corporation for National and Community Service, this might be a post-HS gap year experience or something a student does after graduating college. In addition to a living stipend, students who serve receive a post-service education benefit that they can use toward paying college costs or repaying student loan debt.

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Questions?

gesser@vsac.org

Financial aid help from VSAC

FINANCIAL AID & MANAGING COLLEGE COSTS

–when you are ready