Financial Aid for College

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Financial Aid for College
Filling out a FAFSA
All money spent on education is an
investment…..
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By your government
By your community
By your parents and family
By YOU
…intended to yield a return!
Your education thus far has been an
investment made by your community
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$3500-4000 per student per year
X 12
$42,000-50,000
What kind of a return do
you represent thus far?
FAFSA: Federal money
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Free
Application
For Federal
Student
Aid
Find the link at www.fafsa.gov
Never pay anyone to file your FAFSA!
You fill it out each year!
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Your info will be kept on file.
Each school year, you update the
information.
Filing the FAFSA allows you to
continue your education

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You shoulder some of the responsibility for
the cost
You invest in your future
What kind of schools qualify for
Federal dollars?
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4 year colleges and universities
Community colleges
Trade schools
Vocational training programs
Types of Aid
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Grants – money not repaid, given on a basis
of need (income+assets+family size) Pell
Grants
Work Study – employment - wages paid with
federal money
Loans
Federal Student Loans are different
from commercial loans.
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Lower interest
Longer payback period
Grace period upon completion of your
education
Dependency
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Your will be regarded as a dependent until
you are 24
Your parent’s/guardians’ income will be
considered in awarding you financial aid
Independent status: marriage, children,
foster care, emancipation
Special circumstances
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Case by case basis
Considered through a written explanation to
individual financial aid departments
To file a FAFSA you need

Current financial information for you and your
parents/guardians
–
–
Tax returns
W-2’s
File in January

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Even if you do not have current tax
information – use previous year’s numbers
as an estimate
Update ASAP when current taxes are
completed
Pin Numbers
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Allow you and your parents to sign your
FAFSA online
Requires a social security number
(Parents with no SS# follow directions for
pin)
Follow the FAFSA with the OSAC
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Oregon Student Aid Commission is the state form of
the FAFSA
Consideration for Oregon Opportunity Grant (similar
to the Pell) is automatic when FAFSA is filed
Clearinghouse for over 300 other grants and
scholarships
GearUp scholarships (Central has 5) – this is the last
year.
Focus on local scholarships

Think about scholarships given by employers
and local businesses

They are less competitive
Remember:

If you fail to plan....
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