Financial Aid
Westmont High School
Guidance Department
Fall 2013
Agenda

What is Financial Aid?
 Financial Aid Myths

Application Process

Calculating Eligibility

Awarding and Packaging

What Next?
What is Financial Aid?
 Financial
Aid is any money given or
loaned to help pay for education
 Federal
Student Aid
 California
State Aid
What does it pay for?
 Tuition
and fees
 Room and board
 Books and supplies
 Transportation
 May also include allowance for:
Child care
 Costs associated with a disability
 Rental or purchase of computer

FAFSA & CalGrant
 Free
Application for
Federal Student Aid
(FAFSA)
 CalGrant
Basic Equation of Need
Cost of Attendance (COA)
 Expected Family Contribution (EFC)

Student’s Financial Need (eligibility)
Financial Aid Myths





Myth #1:
You can’t afford college
Myth #2:
You have to be very poor, very smart or very talented to
qualify
Myth #3:
You can get more scholarships by paying someone to
search for you
Myth #4:
If you pay for college, your parents’ salaries don’t
matter
Myth #5:
You can wait until you get accepted to a college before
worrying about financial aid
Types of Financial Aid
Need-Based
Based on family’s financial situation
Non Need-Based (Scholarships/Loans)
Based on grades, test scores, hobbies,
special talents, affiliations, heritage, etc.
Types of Financial Aid
Gift Aid
•Grants
•Federal Pell Grants
•Cal Grants
•Scholarships
Self Help
•Work Study
•Loans
Types of Financial Aid – GIFT
 Federal Pell Grant

First source of aid

Undergraduate students only

Amount based on
 Cost
of Attendance (COA)
 Expected Family Contribution (EFC)
 Enrollment status

2013-2014 maximum = $5,550
Types of Financial Aid – GIFT
 Cal Grants
Cal Grant A
For students with a Grade Point Average (GPA) of at least 3.0, family income
and assets below the state ceilings, and who demonstrate financial need
Cal Grant B
For students from disadvantaged or low income families with a GPA of at least
2.0, family income and assets below the state ceilings, and who demonstrate
financial need
Cal Grant C
For students from low income families pursuing occupational, technical, and
vocational programs of study
Types of Financial Aid – GIFT
 College Grants

Community College
Board of Governor’s Fee Waiver (BOG)
Waives enrollment fees, FAFSA may be required

CSU State University Grant (SUG)
Amounts
vary, FAFSA is required

UC Grant
Use federal formula to award grants.

Independent College Grants
Amounts and application process vary
Creating a “WebGrants 4
Students” Account
 Students
create a WGS account
with a submitted GPA to the
Commission.
 To
establish a WGS account, go to
www.webgrants4students.org and
follow the instructions!
Types of Financial Aid – SELF-HELP
 Federal Work Study

Campus-based aid

Must be earned through work
 Job may be on or off campus

May have annual maximum
 funding levels vary at each institution

Need-based
Types of Financial Aid – SELF-HELP
 Loans

Subsidized- Need based


Unsubsidized- Not need based


Student pays interest
PLUS - Not need based


Interest paid by government
Borrowed by parent
Perkins - Need based

0% interest while in school
Step 1: Filing the FAFSA
Apply For A PIN
Students need a PIN. Parents need a PIN too.
PIN is student’s and parent’s signature.
The PIN Application Process consists of 3 steps:
Step 1: Enter Personal Information
Step 2: Submit Your PIN Application
Step 3: Receive Your PIN – KEEP IT PRIVATE!
www.pin.ed.gov
Information Needed to Register for a PIN
 Social
Security Number
 Last name, First name, Middle initial
 Date of Birth
 Address
 E-mail
Step 2: Apply Online
File a FAFSA online
www.fafsa.ed.gov
1-800-4-FED-AID
(1-800-433-3243)
What’s the deadline?
The 2012-13 deadline
for FAFSA and GPA submission is
Thursday, March 2, 2013
Many private schools have an earlier deadline such as
Febraury 1st, 2013 – check each campuses deadline.
What is a name?

Must use legal name as it appears on
social security card
Kim
Vicky
Kimberly
Victoria
FAFSA Questions

What does the FAFSA ask about?

General Student Information

Student income and Tax Information
IRS Data Retrieval
 Available February 1st, 2013
 Opt to “Transfer My Tax Information into the FAFSA”
 Can file FAFSA earlier (using estimated info.)
 Allow 2 weeks if taxes e-filed; 8 weeks if taxes done
on paper
 Can file FAFSA earlier (using estimated info.)

Who is eligible for financial aid?
U.S. Citizen, Eligible non-citizen, or
Neither

Must have a Social Security Number to
continue online application


800.772.1213 or www.ssa.gov
Matched with name and date of birth
registered with SSA
Citizen or non-citizen?
Eligible non-citizen






If you’re not in one of these categories, you must
be an eligible noncitizen, and you must have an
Arrival-Departure Record (I-94) from U.S.
Citizenship and Immigration Services (USCIS)
showing one of the following designations:
"Asylum Granted“
"Refugee"
"Cuban-Haitian Entrant, Status Pending"
"Conditional Entrant”
Victims of human trafficking, T-visa
Selective Service/ Inactive Draft

Males between 18 and 25 must register
 Check “Yes” and you will be automatically
registered
 Not yet 18, check yes and SSS will register
you on birth date
 May also register using Web site
 www.sss.gov
Degree/Grade Level
Student’s Grade Level

Check “1st year/never attended college before”,
whether or not a concurrent enrollment student
Degree

Check “1st bachelor’s degree”
Student’s expected enrollment status
 Always check “full time”
 Does not commit you to attending full time
Parents’ Household Size

Include student and parents

Siblings/ other people (regardless of age)

If they live with parents and provide 50% or more of
their financial support from July 1, 2011- June 30,
2013
Questions?
Financial Aid Night
at West Valley College Theater
Thursday, January 24th
6:30 – 8:00 PM
Free parking night of the event
Your To-Do List

Complete GPA Release Form and return to the
Guidance office by Feb.25th.

Complete the FAFSA online beginning January 1st
 Student and parent use PIN to sign
 Read and save confirmation page

Attend the Financial Aid workshop at the West Valley
College Theater on Thursday, January 24th at 6:30

Watch for your Student Aid Report (SAR) and
California Aid Report (CAR)
Thank you
Apply!