Financial Aid Night
Presented by
Cleary University
Presenter: Vesta Smith-Campbell
January 13, 2016
Agenda
•
•
•
•
Education & Earning Potential
FAFSA form
Getting set to go to college
General financial aid overview
FREE APPLICATION FOR FEDERAL
STUDENT AID – 2016-17 FAFSA
www.fafsa.gov
Electronic
Signature for
parents &
Students
Speeds up
processing
FSA User ID
needed for
student and 1
parent
Information Gathered for Parent & Student
Be prepared to supply the following information for 2015:
•Social Security Numbers
•Income Tax
•Assets
•Household size
•Number of household members
•Untaxed Income
•Housing information
•Signatures /FSA USER ID
IRS Data Retrieval Tool
•Real-time request to IRS for tax data right from your
FAFSA form!
•Available early February if you have already filed.
•If you haven’t filed – Don’t worry! File FAFSA with
estimated tax information & correct later!
•When you can’t use retrieval – Amended return, no
SSN, Married filing separately.
FREE APPLICATION FOR FEDERAL
STUDENT AID - FAFSA
•
•
•
•
•
•
•
•
Collects family personal and financial information
Electronic preferred, but other methods available.
No fee!! Beware of sites that charge!
Can be submitted to 10 schools
Open after January 1, 2016
State deadline March 1st
File early – Use estimated tax information
Reapply every year
What’s New for 2017-18 FAFSA?
•FAFSA Open October 1st , 2016 instead of
January 1st , 2017
•Using “Prior-Prior” Year Income.
• 2015 income for 2016-17 and 2017-18
• Import 2015 tax information for both years
MI College Goal Events
http://micollegegoal.org/
Hartland High School
10635 Dunham Rd., Hartland, MI 48353
Financial Aid Night
Wednesday, January 13, 2016 @ 6:30pm
FAFSA Night
Wednesday, February 10, 2016 @ 6:30pm
Special Circumstances?
•Loss of employment
•Change in Parent’s marital status
Check with financial aid office at
college.
GET SET FOR COLLEGE
Get Set for College
1.
2.
3.
4.
5.
6.
7.
Apply for Admission
Complete & Submit FAFSA
Check with college for other required forms/documents
Institutional scholarship
Direct loan application/Parent PLUS loan application
Receive award notification/package from school
Contact Financial Aid office with Questions.
FINANCIAL AID OVERVIEW
What is Financial Aid?
Funds provided to students
to help pay for
postsecondary educational
expenses
How is Aid Eligibility Determined?
Cost of Attendance
-Expected Family Contribution
= Financial Need
What is Cost of Attendance?
Direct
Costs
Indirect
Costs
Cost of
Attendance
• Tuition
• Books
• Housing/Room & Board
• Personal & Transportation
• Combined Total
• May Vary from School to School
What is Expected Family Contribution
(EFC)?
FAFSA
Aid
Report
EFC
What is Financial Need?
COA
EFC
Need
• Cost of Attendance
• Expected Family Contribution
• Financial Need
FINANCIAL AID AWARD PACKAGE
Award Package
Gift Aid – Can be Need or Non-need-based – No Payback
Scholarships
Grants
Self-Help Options – Can be Need or Non-need-based
Loans – Must Pay Back
Employment – Earned
Total Award Package
General Financial Aid Overview
•
•
•
•
Federal Programs
State Programs
Institutional Scholarships & Grants
Other Outside Private Resources
Federal programs
Pell Grant
TEACH Grant
Iraq & Afghanistan Service Grant
Supplemental Educational Opportunity Grant
Federal College Work-study
William D Ford Direct Loans
Subsidized
Unsubsidized
Parent Plus
State Programs
Apply before March 1st & Answer State Residency Questions!
•
•
•
•
Michigan Competitive Scholarship
Michigan Tuition Grant – Private Institutions Only
Tuition Incentive Program (TIP) (Notification Letters)
State of Michigan Children of Veterans Tuition Grant
Program
• Michigan Indian tuition Waiver – Public Institution Only
Michigan College Savings Plans
Met – MI Education Trust
MESP – MI Education Savings Program
Institutional Scholarships & Grants
• Cleary University Admissions Scholarship
• $7500 – 3.7GPA – 25 ACT Score
• $5400 – 3.2 GPA – 23 ACT Score
• Cleary University Alumni Legacy Scholarship
• DECA Scholarship
• Athletic Scholarship
Reference Cleary Scholarship Brochure & Website
Outside Private Resources
• Professional Associations
• Foundations
• Community Organizations
• Civic
• Religious
• Social
• Place of Employment
Free Online- Scholarship Search & Information
FastWeb.com – http://www.fastweb.com/
GoCollege.com – http://www.gocollege.com
The CollegeBoard –http://www.collegeboard.org/
Summary
To-Dos for Students:
• Apply for admission
• Complete and submit the FAFSA
• Check with college for other required forms and
documents
• Review aid report for accuracy
• Submit required documents to aid office
To-Dos for Aid Office:
• Determine eligibility
• Package awards
• Send award package/notices
Contacts
Office of Scholarships and Grants
• 1-888-5-GRANTS or
http://www.michigan.gov/mistudent aid/
Michigan Education Trust (MET)
• 1-800-MET-4-kid or
http:/www.michigan.gov/mistudentaid/
Michigan Education Savings Program
• 1-877-861-MESP
QUESTIONS?
VESTA SMITH-CAMPBELL
VSCAMPBELL@CLEARY.EDU
1-517-338-3042