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Blake High School

Financial Aid Presentation

Presented by:

Cynthia Hammond-Davis

College Counselor

CollegeandCareerAdvice.Com

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We will talk about:

Federal student aid
State student aid
Student aid & scholarships from colleges
Scholarships from other sources

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Average percent of total cost

paid from each source:

48% parent & student income and savings �23% student & parent borrowing�27% scholarships and grants

2% contributions from relatives and friends

Parent income and savings are the #1 source of funding.

https://www.salliemae.com/about/leading-research/how-america-pays-for-college/

How America Pays for College 2024

A national study by Sallie Mae^®

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What is financial aid?

Billions of Dollars are available
Money to pay for college or career school

Grants
Scholarships
Work-study
Loans

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How do I apply for aid?

Fill out the online Free Application for Federal Student Aid (FAFSA) at

www.FAFSA.GOV or studentaid.gov

Starting Oct 1, 2025

October 15th - Before Winter Break

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FINANCIAL AID ELIGIBILITY

Basic Eligibility Requirements:

Student must be a U.S. citizen or eligible non-citizen
Student must have a valid Social Security number
Have a high school diploma/GED/approved home-schooled program
Working towards a degree or certificate in an eligible program at a college/career school that participates in the federal student aid programs
Maintain satisfactory academic progress once enrolled

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Who Completes The Fafsa?

High School Senior & One Parent (parent who contributes more financially within the last 12 months, if parents are divorced)

Create a Federal Student Aid (FSA) ID (email address & password) Create this soon!

You will need a cell phone and email address
Social Security Number (Student & Parent)
Keep your password and answers secure
You will use this every year child is in college
Electronic Signature
Parents only need one FSA for their children, but each child must have a separate FSA ID

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Students and parents can get PINs at any time.

The benefit of a parent getting a PIN is that they, along with the student, will be able to sign the FAFSA electronically, thus speeding up the process greatly.

Important to note here that student and parent need separate PINs – one each.

To find out whether a parent’s information will be needed on the FAFSA, a student can refer to “Am I Dependent or Independent?” at www.studentaid.ed.gov/pubs

If the student wants the PIN site to choose the PIN, he or she can opt to have the PIN appear immediately on the site, or be sent by postal mail, or be e-mailed. Remember that some e-mail providers block e-mail that they perceive to be possible spam. Students should add FederalStudentAidPIN@cpsemail.ed.gov to their address books so that the notification e-mail will reach them successfully.

It is important that the student and parent not share their PINs with anyone. A PIN is a signature as well as providing access to private information. To protect themselves from identity theft and other types of fraud, students and parents should not tell anyone their PINs.

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How much federal student aid can I get?

In general, depends on your financial need.

Financial need determined by your Student Aid Index (SAI) and the college’s cost of attendance (COA)

SAI calculated using your financial information reported on the FAFSA

COA – SAI = demonstrated need

Your SAI is an index number used by financial aid professionals when creating an aid offer. Your SAI is calculated using information that you (and other contributors, if required) provide on the FAFSA form

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COA – SAI = NEED

Cost of Attendance –
tuition, room, board, books, fees, transportation, etc.

MINUS

SAI - Student Aid Index (previously known as Expected Family Contribution)
estimated by the federal government, determines your need for Financial Aid.
EQUALS = “Demonstrated NEED” THAT COLLEGES MEET AT A CERTAIN Percentage%

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https://www.collegedata.com

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COA – EFC = NEED CONT’D

ABC COLLEGE $35,000 (C0A)

Minus Your SAI $20,000

Demonstrated Need for college = $15,000

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COA – EFC = NEED CONT’D

ABC COLLEGE $50,000 (C0A)

Minus Your SAI $20,000

Demonstrated Need for college = $30,000

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COA – EFC = NEED CONT’D

ABC COLLEGE $70,000 (C0A)

Minus Your SAI $20,000

Demonstrated Need for college = $50,000

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Net Price Calculator - NPC

Every college that receives federal funding will have this calculator on their website.
This will help determine how much you may be expected to pay out of pocket (net cost)
College’s search engine – Net Price Calculator
Complete the information for an estimated cost.

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How much federal student aid cont’d?

Example: first-year student in 2025-26

Maximum amounts allowed:

Federal Pell Grant: up to $7,395 in 2025-26
TEACH Grant: up to $4,000*
Direct Subsidized Loan & (not charged interest while in college at least half time)
Direct Unsubsidized Loans: Up to $5,500 (charged interest while in college)
Federal Supplemental Educational Opportunity Grant: up to $4,000*
Federal Work-Study: depends on funds available at school
Federal PLUS Loan (for parents)
(all amounts may change yearly)

*may be increased or decreased

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New Parent Loan Changes 2026 & Beyond

Parents can no longer borrow up to the cost of attendance:

Annual Limit: Parents can borrow a maximum of $20,000 per dependent undergraduate student per year.
Aggregate (Lifetime) Limit: There will be a lifetime limit of $65,000 per dependent undergraduate student.

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Changes to Parent/Student Loans, Contd.

Important Notes:

These changes to the Parent PLUS Loan program are scheduled to go into effect for loans disbursed on or after July 1, 2026.
It's important to remember that Parent PLUS loans will also undergo changes regarding repayment options, with the elimination of access to income-driven repayment plans after July 2026. They will only be repayable on the standard repayment plan.
Public Service Loan Forgiveness (PSLF) will also no longer be available for Parent PLUS loans taken out after July 1, 2026.

Note: Starting July 1, 2026, students will effectively need to apply for and utilize their maximum unsubsidized federal loan eligibility before their parents can be considered for a Parent PLUS loan.

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Other Financial Aid Forms

CSS Profile – Some colleges (private & some public) use this form.
www.Collegeboard.Org – College Scholarship Service (CSS)
More questions than the FAFSA
FAFSA vs CSS

FAFSA- Custodial Parent Who Pays The Most
CSS - Custodial & Non-Custodial Parent
FAFSA – Does not ask for equity in home
CSS - Equity in your home
FAFSA – Free Application up to 20 colleges
CSS - $25 app fee 1st college & $16 per additional college
FAFSA – Available October 1
CSS – Available October 1

Check with the colleges you are applying
Do not complete the CSS unless asked by the college
Some colleges may have an additional financial aid form
https://profile.collegeboard.org/profile/ppi/participatingInstitutions.aspx

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COLLEGE NEED-BASED AID

Based on the financial position of the family.

The information supplied on the FAFSA is used to determine the Student Aid Index –SAI.

All students who have a Demonstrated Need may be able to receive funding

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COLLEGE MERIT-BASED AID

Based on how well the student has performed in some area (academics, athletics, leadership, band, music, STEM, etc.).

The scholarship has nothing to do with the financial position of the family.

These scholarships come from the college and are renewable every year, most of the time.

Students receive them by just applying to the college or filling out a separate application.

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Maryland Higher �Education Commission

State Grants may be available for Maryland residents who meet income eligibility requirements. Must complete FAFSA if eligible.
MSFAA (Maryland State Financial Aid Application) - non qualifying FAFSA students
Register online with (MDCAPS) using a personal email.
An email from MHEC sent to student. (Students need to check Emails periodically!!) Documentation may be needed
Complete all documentation as soon as possible!
http://mhec.maryland.gov/

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MARYLAND GRANTS�Need Based, Pell Grant, Low Income

Howard P Rawlings

Guaranteed Access Grant (GAG) up to $18,000

Educational Assistance Grant up to $3,000

Part-time Grant up to $2,000
2+2 Transfer Scholarship up to $2,000

Students must plan to attend a college in Maryland, but there are some exceptions (Md partnership colleges/universities)

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Guaranteed Access Partnership Program (GAPP)�

The Guaranteed Access Partnership Program (GAPP) provides a matching grant award to eligible Maryland students who receive a Guaranteed Access (GA) grant and who enroll at a participating Maryland independent college or university as a new undergraduate student. ��The Maryland institutions that are participating include: Capitol Technology University * Goucher College * Hood College * Johns Hopkins University * Loyola University Maryland * Maryland Institute College of Art * McDaniel College * Mount St. Mary’s University * Notre Dame of Maryland University * Stevenson University * St. John’s College * Washington Adventist University * and Washington College�

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MARYLAND GRANTS Cont’d.

Md Community College Promise Scholarship

2.3 Cumulative GPA (unweighted)
$100,000 Single Parent Household
$150,000 Two Parent Household
Complete the MDCaps Registration
Complete the FAFSA or MSFAA

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MARYLAND SCHOLARSHIPS

Senatorial Amount Varies
Delegate Amount Varies
Elected officials
Mdelect.net website
Enter your address to see who your elected officials are
Must complete the FAFSA
Complete MDCAPS on MHEC Web, if required
Scholarship Available Vary per Delegate/Senator

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FAFSA Deadlines

Deadline for DC & Maryland - (March 1st)

Follow the College’s Deadline If Earlier!!

Plan to complete the FAFSA Before or during the Winter break!

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CSS Profile Deadlines

Opens October 1^st

Follow the College’s Financial Aid Deadline!!

Plan to fill this out before the college’s

Financial Aid deadline!

Collegeboard.Org
https://profile.collegeboard.org/profile/ppi/participatingInstitutions.aspx

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Example: Financial Award Letter

Fall 2024 Spring 2025 Total

Tuition and fees 7,568.00 7,568.00 25, 136.00
Room & Board 4,317.00 4,317.00 8,634.00
Books and Supplies 500.00 500.00 1, 000.00
Personal Expenses 600.00 600.00 1,200.00
Transportation 787.50 787.50 1,575.00
Total Cost of Attendance $37,545.00
We are pleased to offer you the following forms of financial aid to assist you with financing your higher education at ABC University!!

Federal Pell Grant 2,750.00 2,750.00 5,500.00
College Scholarships 5,000.00 5,000.00 10,000.00
Federal Work Study 750.00 750.00 1,500.00
Subsidized Loan 1,750.00 1,750.00 3,500.00
Unsubsidized Loan 1,000.00 1,000.00 2,000.00
Parent Plus Loan 6,523.00 6,522.00 10,045.00
Estimated Total Awards 12,773.00 12,772.00 $32,545.00

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Example Financial Award w/Merit Scholarship

Fall 2024 Spring 2025 Total

Tuition and fees 7,568.00 7,568.00 25, 136.00
Room & Board 4,317.00 4,317.00 8,634.00
Books and Supplies 500.00 500.00 1, 000.00
Personal Expenses 600.00 600.00 1,200.00
Transportation 787.50 787.50 1,575.00
Total Cost of Attendance $37,545.00
We are pleased to offer you the following forms of financial aid to assist you with financing your higher education at ABC University!!

Presidential Scholarship 12,000.00 12,000.00 24,000.00
Federal Pell Grant 1,500.00 1,500.00 3,000.00
Student Subsidized Loan 1,750.00 1,750.00 3,500.00
Unsubsidized Loan 1,000.00 1,000.00 2,000.00
Parent Plus Loan 2,522.50 2,522.50 5,045.00
Estimated Total Awards 13,772.50 13,772.50 $37,545.00

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Appeal Letters�Extenuating Circumstances

After receiving an award letter from colleges

Loss of job (parent, student)
More financial responsibility
Higher than usual Medical expenses
Anything that has decreased income
Contact Financial Aid Office
Write a letter with documentation

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Special Circumstances – �Professional Judgement

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How To Complete the FSA ID

“Which Parent or Parents Should Complete It?”

Topics to cover:

Why is an FSA ID Needed?
Who should have an FSA ID?

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Federal Student Aid ID (FSA ID)

A FSA ID is a username and password that gives you access to Federal Student Aid’s systems and can serve as your legal signature.

Provides consent to retrieve your IRS Tax information.
For dependent students both the student and parent will need to create FSA ID’s to complete the forms.
It is very important to remember both your FSA ID and Password, keep this information in a safe place.
You will need your social security number, cell phone, email address, DOB

Studentaid.gov

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Who Needs An FSA ID In Order to Complete the FAFSA Form?

https://studentaid.gov/sites/default/files/is-my-parent-a-contributor.jpg

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What do you need to complete the application?

The FAFSA questions ask for information about you (your name, date of birth, address, etc.) and about your financial situation. Depending on your circumstances (for instance, whether you’re a U.S. citizen or what tax form you used), you might need the following information or documents as you fill out the application:

Needed from All Students

Your Social Security number (it’s important that you enter it correctly on the FAFSA form!)
Your Parent’s Email Address

May be needed from some students and or parents:

Your Alien Registration number if you are not a U.S. citizen
Records of your untaxed income, such as child support received, interest income, and veterans

noneducation benefits, for you, and for your parents if you are a dependent student

Information on cash; savings, and investments.

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Assistance Completing �the FAFSA

FAFSA.GOV Website

1-800-433-3243

Free assistance

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FAFSA Completers

US Citizen or Permanent Resident

List of Items Needed to Complete the Online Application��- Email address for student
- Email address of parent completing the FAFSA
List of colleges you are applying to (up to 20)�- Student social security number�- Student Alien Registration/Green Card (if applicable)�- Parent's personal email address�- Other documentation may be required��The items above can take time to find/collect. Please start gathering this information now.�

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MSFAA Completers�Maryland State Financial Aid

List of Items Needed to Complete the Online Application

List of colleges you are planning to apply�Parent(s) date of birth�Student date of birth�Social security number of parent or student, if applicable�Individual Taxpayer Identification Number (ITIN) for parent and/or student, if applicable�Parent and student W-2 and income tax return documents for the previous three years (2022, 2023, and 2024)�Record of untaxed income�Other documents may be needed��The items above can take time to find/collect. The earlier you can have this conversation with your parents, the more time we will have to address any questions and concerns.�

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FINDING SCHOLARSHIPS

Internet searches-
Our School Counseling receives information about various scholarships
College/University & Financial Aid Offices-Check with the financial aid office at all of the institutions to which apply
Maryland/DC scholarships & grants
Private (professional organizations, employers, civic organizations, etc.)

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Things to Do Now

FAFSA Create an FSA ID (senior & parent, unless parent has one already)

Have a valid email address, Parent & Student
Social Security Number, Parent & Student

CSS PROFILE

Start completing the CSS Profile if you are attending a college that requests it. Opens October 1st. Make sure you are meeting the colleges financial aid deadline:
Start gathering financial information

2024 tax documents, 2025 estimate W2s, bank statements

https://profile.collegeboard.org/profile/ppi/participatingInstitutions.aspx

Research College’s Net Price Calculator’=

https://nces.ed.gov/collegenavigator/

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FAFSA Completion Events

FAFSA Specialists

Parent and Student must attend

Must have established an FSA ID

Bring your laptop/chromebook

Cell phone

YOUR PATIENCE!

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www.fafsa.gov (Free Application For Federal Student Aid)

www.collegeboard.org (CSS Profile financial form)��www.mhec.state.md.us (Md. State Grants & Scholarships)

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Website Resources

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Scholarship- Internet Searches

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FSI ID &

Fafsa Information Videos

Created by Studentaid.Gov

THESE ARE EXAMPLES ONLY! YOU WILL COMPLETE THE 2026-27 FAFSA WHEN IT BECOMES AVAILABLE

It is best to do this together if at all possible!

Students should Complete & Sign their section FIRST & Invite Parent as Contributor

Parents should complete & Sign their section LAST

Starting Your FAFSA Form

https://www.youtube.com/watch?v=sB5s8cY2ghE

Creating FSA ID Account

https://www.youtube.com/watch?v=Pitb_aIQBVc

Why Do I and My Contributors Need Separate Accounts?

https://www.youtube.com/watch?v=3c0jWxxyx6s

Who Are Contributors on the FAFSA?

https://www.youtube.com/watch?v=ROtS0SnscMI

FAFSA Form Contributors

https://www.youtube.com/watch?v=u8uubc08CDE

Documents Needed to Complete the FAFSA Form

https://www.youtube.com/watch?v=IpjwM6zzdPc

Student Review, Sign and Submit Your Form

https://www.youtube.com/watch?v=-vzAh2KEsdE

Explanation of SAI Calculation

https://studentaid.gov/sites/default/files/sai-explained.pdf

How to Complete The FAFSA Step by Step

https://youtu.be/875Rbg6ucao?si=ii33oNRbNnRpBsAg

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Opportunities Guidebook

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College Application Process

College Questions

9th - 12th Grade Timeline

FAFSA Information

FSA ID Step by Step Instructions

Worksheets

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��Cynthia Hammond-Davis�CollegeandCareerAdvice.Com

Free Parent University every 3rd Monday

October 20th (Virtual Recording!)

Get it Done! Common App Bootcamps $

Group Meetings Evenings, Saturdays & Sundays

Scholarship Assistant $

chd@collegeandcareeradvice.com

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QUESTIONS?

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