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Understanding Financial Aid

Funding for Education Beyond High School

Presented by:

Chris Cox

The Center for College Planning

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FINANCIAL AID INSIDER- DIGITAL COPY

SCAN ME!

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WHO WE ARE

The Center for College Planning (CCP) at the NHHEAF Network is dedicated to providing students and families with FREE, important information about education and career planning
Team of expert Education and Career Counselors
Aim to empower students to plan and achieve their future goals with confidence and excitement
Facilitate connections among individuals and organizations that support students
Serve all NH students of any age, background, interest, and pathway

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CCP APPOINTMENTS

Virtual appointments available every day. In-person appointments available on Tuesdays and Thursdays in our Concord office.

Schedule online:

calendly.com/nhheaf_ccp

Or call:

603.227.5444

Complete assessment and meet with CCP counselor to discuss careers and college majors that match your results

Career & Aptitude Exploration

College, career prep, program options, application process, understanding role of financial aid

Exploring Education Pathways

Ask your questions about the financial aid process, create FSA ID

Financial Aid Support & FAFSA Prep

FAFSA filing assistance

FAFSA Submission

Understanding & comparing offers, next steps

Reviewing Financial Aid Offers

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AGENDA

Financial Aid Basics
Cost Saving Options
Completing financial aid forms
Searching for scholarships

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UNDERSTANDING FINANCIAL AID

Definition and goal:

The goal of financial aid is to help students pay for college. Financial aid is offered in the form of grants, scholarships, federal student loans, and work study jobs.

Achieved by:

Evaluating a family’s ability to pay for educational costs (Student Aid Index)

SAI can be a negative number

Distributing limited resources in an equitable manner
Providing a balance of gift aid and self-help aid (when available)

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TYPES OF FINANCIAL AID

Gift Aid

Merit-based (scholarships)� offered based on academic, artistic, or athletic talent; community service, leadership
Need-based (grants)� based on the family’s finances

Self-Help Aid

Federal Loans
Work Study

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FINANCIAL AID AND THE COLLEGE SEARCH

Things to Consider:

Types of aid offered at each school

Merit
Need

Having the “money talk” early
Net price, not sticker price

Calculators will differ from college to college
Results are an estimate of potential financial aid – you still must file the FAFSA and any other required financial aid forms
Find the NPC by using the search box on a college website or Google

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DID YOU KNOW?

Granite Guarantee

Provides free tuition to students attending a NH public college who are going full time and are eligible for the Pell Grant

Tuition break

Allows New England residents to enroll at out-of-state New England public colleges and universities at a discounted tuition rate

Community College

Offers a more affordable option for students at a price of $215 a credit

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APPLYING FOR FINANCIAL AID

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FAFSA

(Free Application for Federal Student Aid)

studentaid.gov

CSS Profile

cssprofile.org

FINANCIAL AID FORMS

The FAFSA will open in December (only for this year)
CSS Profile is available starting October 1^st
Check with each school to determine required application forms and specific deadlines
Your timeline may be very different from the timeline of others. Consider these variables:

WHERE are you applying?
HOW are you applying?
WHEN is the college’s deadline?

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FAFSA (FREE APPLICATION FOR FEDERAL STUDENT AID)

To collect a family’s personal and financial information in order to calculate the Student Aid Index (SAI)

Goal of the FAFSA:

Who Should File the FAFSA?

Why file the FAFSA?

To make you potentially eligible for Federal Aid: Federal loans, Federal Grants and Work-study opportunities

Some private scholarships require the FAFSA as part of their application process

Everyone!

Keep in Mind:

The FAFSA Form must be completed EVERY year

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FILE ONLINE

www.studentaid.gov

Completing and processing the FAFSA is FREE

Have Questions?

Twitter account @FAFSA

Chat online with FAFSA Specialist

1-800-4-FEDAID

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WHAT IS AN FSA ID?

What is it?

A username/password that allows students and parents to identify themselves electronically to access studentaid.gov
Takes 3-5 days to verify and is needed BEFORE completing the FAFSA

What is needed:

Social Security number
Your own cell phone and/or email address

studentaid.gov

***Remember to save your Backup Code! Your will use your backup code to access your account in the event you cannot use any other two-step verification method.**

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WHAT INFORMATION WILL I NEED?

Students and parents of dependent students MUST consent to the use and disclosure of tax information for the FAFSA

For more details about FAFSA income and asset requirements, see the Financial Aid Insider.

Income

Examples:

Wages
Rental Income

Assets

Examples:

529 for students
Non-retirement investments

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FAFSA FREQUENTLY ASKED QUESTIONS

Whose FAFSA is it?
When is the deadline to complete the FAFSA?
Which year’s tax return should a family use?
Who qualifies as an independent student?
Which parent(s) are included on the FAFSA form?
If a student is not sure they are going to college, should they still complete a FAFSA?

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SPECIAL CIRCUMSTANCES

Special Circumstances MAY include:	Special Circumstances DO NOT include:
Loss or reduction of employment	Vacation expenses
Separation or divorce of parents	Graduate school expenses for a sibling
Death of a parent	Wedding expenses
High unreimbursed medical or dental expenses	Consumer debt
Unusual losses in business, investments, or real estate	Expenses related to pets

Contact financial aid professionals at each college

Complete special circumstances form on each school’s financial aid webpage

Have realistic expectations of financial aid appeal outcomes

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CSS PROFILE

Used by approximately 300 colleges to determine eligibility for institutional aid

Use student’s College Board log-in to access form

$25 fee to register and to send to first school; $16 for each additional school

If your AGI is less than $100K, the application will be free

cssprofile.org

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SEARCHING FOR SCHOLARSHIPS

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NATIONAL SEARCH

Tip! Create an appropriate and unique email address for the college and scholarship processes!

CAUTION: Do not pay money to apply!

Applications deadlines are typically in the fall of senior year

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LOCAL SEARCH

School Counseling Office

Check with the counselor for information about local scholarships for students from the town, school district, and state

Check with your (or your parents’) employer(s). Many have scholarship programs set up for their employees or their family members.

Work

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LOCAL SEARCH

New Hampshire Charitable Foundation

Scholarships for New Hampshire residents

1.800.464.6641

nhcf.org

Statewide Student Aid Program

For students enrolling in 4-year degree programs

Career Aid to Technical Students Program

For students enrolling in 2-year degree programs

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NEXT STEPS FOR FINANCIAL AID

Gather the required personal and financial information required by the FAFSA and/or CSS profile
Make a chart/list of each school’s submission deadline
Complete the FAFSA, being sure to identify each school you may consider applying to (up to 20)
SUBMIT your FAFSA before the EARLIEST Financial Aid submission deadline
Determine which schools may also require the CSS profile and complete and submit that as well, again before the earliest deadline

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COMING IN THE SPRING

Paying for College 101 Presentation

Learn how to break down financial aid offer letters
Explore options to cover your costs

Reviewing Financial Aid Offer Appointments

Using your financial aid offers, compare final cost of each college
Understand your options to pay the remaining cost

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QUESTIONS?

Center for College Planning

603.227.5444

collegeplanning@nhheaf.org

Schedule an appointment online:

Calendly.com/nhheaf_ccp

Book an Appointment