WELCOME TO FINANCIAL AID

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WELCOME TO FINANCIAL AID

• Presented to you by
• Mary Lou
  Harbin,
• College Career
  Counselor
• Conroe High School
• 
  

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What is Financial Aid?

• Types of Financial Aid are
• Scholarships
• Grants
• Employment opportunities (work study)
• Loans

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Categories of Financial Aid

• Merit Based
• 1. Has a qualifying criteria such as contest,
  specific performance in writing, speeches,
  projects, writing contests.
• 2. Past High School achievements in academics,
  sports, leadership, participation in school and
  community service
• Need Based
• How much money can I get? There are three main
  rules to consider
• It is the familys primary responsibility to pay
  for college (in so far as you are financially
  able to do so)
• Your out of pocket expenses should be about the
  same (EFC)
• c. You will qualify for more aid at a higher
  cost school (NEED)

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Need Based Aid

• Definition of need is
• Cost of Attendance (Year)
• (-) Expected family contribution
• () Equals need

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Cost of Attendance

• Tuition and fees
• Books and supplies
• Room and Board
• Transportation
• Miscellaneous Personal Expenses
• Study aboard special materials
• Computer cost
• Dependent care

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Example of Need Based Aid

• School A School B
• COA (2,500) COA (20,531)
• EFC(12,000) EFC (12,000)
• No Need 8,531
• (Notice that as the cost increases, the need
  increases)

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Applying for Financial Aid
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Financial Aid Package/Award Letter

• COA at the college/university
• Minus EFC
• Minus Pell Grant (income of 50,000 or less, can
  qualify for 400-5500) if received)
• Minus ACG (freshman, top 10, Dist. Achievement
  Diploma) or SMART (Soph. - if PELL eligible 3.0
  1300, Junior/senior if PELL eligible 3.0 GPA
  4,000)
• Minus Scholarships (if any)
• Minus Campus-based federal/state grants (if any)
• Minus Work Study
• Minus Loans

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Federal Aid

• Pell Grant (5800-9/2011)
• Academic Competitiveness Grant (ACG)
• Science Math Access to Retain Talent (SMART)
• Supplemental Education Opportunity Grant
• Federal Work Study
• Perkins Loan Program
• FFELP Loan Program (Federal Family Education Loan
  Program- Stafford Loan/Plus Loan)
• Direct Loan Program (www.studentaid.ed.gov)

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FAFSA Parent Student Workshop

• Need help completing the FAFSA? Come and join us
  for our FAFSA workshop Night. We will have
  Financial aid counselors available to help you
  complete your FAFSA. Save the Date Feb. 10,
  2011 from 600 pm- 800 pm, in the CCC, we will
  hold a second session on March 8, 2011
• Please remember to bring with you copies of w-2s,
  if you have it a copy of your 2010 1040,
  investment information
• Our Goal is for you walk out of here with your
  FAFSA Completed!!!!!!!

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Remember

• Financial Aid and students hard work go together
  to make financial aid work for the student.

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Mary Lou Harbin,Counselor, College Career
Center936-709-5777College Career
CenterHours Monday Friday700 am 300 pm