FINANCIAL AID 30 minutes could save you thousands WHAT WE WILL COVER • Federal student aid • State student aid • Student aid from colleges • Scholarships from other sources FINANCIAL AID SUPPORT • January 13th – Financial Aid Parent Information Night 7PM – QPAC • Two members of the financial aid department of Lehigh University will present information about the financial aid process and will field general questions • Snow date is January 20 th • February 10 th – FAFSA Completion Night 5 to 6:30 PM – Cyber Commons • This is a work session, not a presentation • Laptops will be set up in the cyber commons for families to start and hopefully complete their online FAFSA application • A member of PHEAA will assist any participants who have questions while filling out the application • Prior registration is mandatory. Students can sign up in the guidance office or parents can email Mr. Gozzard at [email protected] WHAT IS FINANCIAL AID? • Financial aid is any assistance to help students fund their education. It can take the form of: • Grants • Loans • Work-study • Scholarships • Merit Aid – Awarded to students based on academic performance or other skills • Needs Based Aid – Based on financial need 4 SOURCES OF AID: • Federal • State - PHEAA • Educational Institutions • Outside or Private Organizations • Civic Organizations • Parents • Employers • Schools 5 HOW DO I APPLY FOR FINANCIAL AID? • Complete the Free Application For Federal Student Aid online •FAFSA • You and your parent/guardian must go to… •www.fafsa.gov • This is the OFFICIAL financial aid application website. HOW TO FILL OUT THE FAFSA REVIEW OF STEPS • 1. You and your parent/guardian will need to get a personal identification number (PIN) • www.pin.ed.gov • 2. Gather needed documents • Social Security Number • W-2 Forms from 2014 • Completed Taxes for 2014 • 3. Go on www.fafsa.gov • 4. On the confirmation page of the FAFSA, click on the PA state link to apply for state aid • 5. Monitor your email and mail for application status updates ONCE FAFSA HAS BEEN SUBMITTED SAMPLE AWARD LETTERS • ADD Drexel Award Letter SAMPLE AWARD LETTERS • ADD PSU Letter DECIDING ON WHICH SCHOOL • Be sure you have visited the campus – more than once if possible. • Do you see yourself being comfortable on this campus for the next 4 years? • Is the distance from home acceptable? • Is the amount of loans or money you will have to pay out of pocket feasible? • Multiply the amount of loans you are taking out over 4 to 5 years. • Does the potential job you could get pay well enough to pay off the loans you have taken out? See the “career” tab on Naviance for salary information. • Attend the college/trade school because it is right for you, not because a friend or significant other is going as well. RESPONSIBLE BORROWING SCHOLARSHIPS YOU CAN APPLY FOR • Check out the financial aid web page of schools where you have applied. They may offer a scholarship list • Naviance has a scholarship list of local and regional scholarships and a “national college search” tool as well. • Avoid Scholarship Scams • Never pay to apply for a scholarship • Never give your Social Security Number when applying for a scholarship (you will need this for colleges and FAFSA) • Do not give bank or credit card information • Investigate your employer and parents’ employer for scholarships • Church and local civic organizations ACCEPTANCE LETTERS WITH SCHOLARSHIP INFO • Please share the great news. • If you get a scholarship award letter, please bring it down to guidance. • We will make a copy and give you back the original. • We will keep a running total of all scholarships awarded to our seniors and will announce the total at graduation. • Your info will be kept confidential!