Financial Aid for College

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Financial Aid for College

• Filling out a FAFSA

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All money spent on education is an investment..

• By your government
• By your community
• By your parents and family
• By YOU
• intended to yield a return!

3
Your education thus far has been an investment
made by your community

• 3500-4000 per student per year
• X 12
• 42,000-50,000
• What kind of a return do you represent thus far?

4
FAFSA Federal money

• Free
• Application
• For Federal
• Student
• Aid
• Find the link at www.fafsa.gov
• Never pay anyone to file your FAFSA!

5
You fill it out each year!

• Your info will be kept on file.
• Each school year, you update the information.

6
Filing the FAFSA allows you to continue your
education

• You shoulder some of the responsibility for the
  cost
• You invest in your future

7
What kind of schools qualify for Federal dollars?

• 4 year colleges and universities
• Community colleges
• Trade schools
• Vocational training programs

8
Types of Aid

• Grants money not repaid, given on a basis of
  need (incomeassetsfamily size) Pell Grants
• Work Study employment - wages paid with federal
  money
• Loans

9
Federal Student Loans are different from
commercial loans.

• Lower interest
• Longer payback period
• Grace period upon completion of your education

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Dependency

• Your will be regarded as a dependent until you
  are 24
• Your parents/guardians income will be
  considered in awarding you financial aid
• Independent status marriage, children, foster
  care, emancipation

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Special circumstances

• Case by case basis
• Considered through a written explanation to
  individual financial aid departments

12
To file a FAFSA you need

• Current financial information for you and your
  parents/guardians
• Tax returns
• W-2s

13
File in January

• Even if you do not have current tax information
  use previous years numbers as an estimate
• Update ASAP when current taxes are completed

14
Pin Numbers

• Allow you and your parents to sign your FAFSA
  online
• Requires a social security number
• (Parents with no SS follow directions for pin)

15
Follow the FAFSA with the OSAC

• 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.

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Focus on local scholarships

• Think about scholarships given by employers and
  local businesses
• They are less competitive

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Remember

• If you fail to plan....