What is Financial Aid?
Money provided to help pay for postsecondary educational expenses.
Financial aid is available for students from all families, no matter what the income level.
Sources of Financial Aid
Federal Government
States
College and Universities
Private Sources Foundations/Community Orgnaizations/Churches
Employers
Scholarship Searches
Determining Federal Aid Eligibility
Cost of Attendance (Varies by School)
= Financial Need
What is the Financial Aid “Package”?
It can include several types of scholarship, grant, loan and/or employment aid offered by a specific school to help meet your ‘Financial Need’ and the school’s ‘Cost of Attendance’.
What is Cost of Attendance (COA)?
Budget for the school Year
Cost of Attendance (Varies by School)
= Financial Need
What is the Financial Aid “Package”?
It can include several types of scholarship, grant, loan and/or employment aid offered by a specific school to help meet your ‘Financial Need’ and the school’s ‘Cost of Attendance’.
Determining Federal Aid Eligibility
Sample Semester Cost to Attend UCM
(15 hours, face-to-face, resident for 2024/25)
Instructional Fees $4,162.50
General Fees $ 707.00
Estimated Textbook Costs $ 625.00
Residence Hall (if living on-campus) $3,169.00
Meal Plan (if living on-campus) $1,934.00
TOTAL $10,597.50
Seven Things You Will Need Before Filing the FAFSA
The FAFSA
https://studentaid.gov/announcements-events/fafsa-support
Applying for Aid
*Available in December 2024
Who Files the FAFSA?
Who Files the FAFSA?
FSAID.ED.GOV
Apply at https://studentaid.gov/fsa-id/create-account/launch
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Log In Screen
FAFSA Welcome
If Parent(s) Begins FAFSA Form:
< Student SSN
< Student Name
< Student Date of Birth
< Student Email
-(not H.S. Email)
< Student Phone #
Student Identity Information
Student Demographics
Dependency Status
-Unaccompanied Homeless Youth?
-Contacting parents pose a risk?
-Parents Unwilling to provide their
information?
-Unsubsidized Loan Only
Parent Wizard
EXAMPLE: “You will need to provide information for your {parent} and {stepparent}. Based on your answers, you’ll need to provide information about this parent and your stepparent on your FAFSA form. You can invite your parent and stepparent to your form so they can complete the required sections.”
Invite Parents Form
decides to accept
High School Name
Enter your high school information, then hit search (then select your school)
Then, you are asked to confirm the high school that you selected
Tax Information
Additional Financial Information
These are found on the IRS Form 1040
These are found on Form 1040 or Schedule 1
Student Financials
Federal Benefits Received
College Name
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Up to 20 schools can be selected
Student Final Steps
Next Steps…
Parent Log In
Parent Contributor Information
Parent Onboarding
-Video
-Role of Contributors
-What to Expect as Contributors
-What Happens after Submitting the FAFSA Form
-1-3 days to process
-Student receives FAFSA Submission Summary
-Student Aid Index
Parent Consent and Data
Parent Tax Filing and Family Size
Review & Signature
Then “What Happens Next…”
What’s Next?
Verification
Professional Judgment
Your FAFSA can be updated by the Financial Aid Office for one or more of the following events:
UCM’S MULE GRANT
Eligibility Requirements
To be eligible, you must meet the following criteria:
Be an incoming first-year undergraduate student or new transfer student with an associate degree entering Fall 2023 and beyond.
Be a Missouri resident (Access Missouri Grant-eligible).
Be a U.S. citizen or eligible non-citizen.
File FAFSA on or before Feb. 1.
Be Federal Pell Grant eligible.
Maintain full-time (12 hours) enrollment each semester.
Maintain good academic standing.
***Pays full tuition and general fees – up to $9,413.50 - after other gift aid***
Scholarship Searches
QUESTIONS?