Mr Milian Jose Marti MAST 6 -12 Academy

Mr. Milian Jose Marti MAST 6 -12 Academy

§ What is financial aid? § Difference between scholarships and need based aid. § Types of Federal and State Financial Aid § How do I apply? § What happens next? § Understanding college award letters § Where can I get more info?

§ Family eligibility and ability to pay (based on) * Cost of College * Family Contribution (EFC) * Availability of Funding Based on Level of Need and Available Aid Funding Types of Need Based Financial Aid Money to pay for a postsecondary education * Grants * Loans * Work-study § Scholarships are performance based – grades, test scores, athletics, the arts etc…

§ The PROFILE is used to help award nonfederal student aid funds from certain colleges and universities § The CSS/Financial Aid PROFILE is only available online, starting October of senior year at: https: //profileonline. collegeboard. com § There is a fee to apply and only a limited number of fee waivers are granted based on the financial information provided on the PROFILE

§ Complete an electronic Free Application for Federal Student Aid (FAFSA) on or after January 1 st (Contact college/university for exact deadline dates) § FAFSA on the Web at: www. fafsa. gov

http: //www. fafsa. ed. gov/ NOT www. fafsa. com this is a pay site

DOCUMENTS NEEDED § Social Security Number § Driver's license (if any) § 2014 W-2 Forms and other records of money earned § Student’s (and spouse's if married) 2014 Federal Income Tax Return –(IRS Form 1040, 1040 A, 1040 EZ) § Parents' 2014 Federal Income Tax Return (if dependent student) § 2014 untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records

DOCUMENTS NEEDED § Most recent bank statements § Most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records § Alien registration number or permanent residence card (if you are not a U. S. citizen). § Keep these records! You may need them again. Do not mail your records with your signature page.

Attending College Use FAFSA Form Use IRS Income Tax From Beginning Summer 2015 Then Fall 2015 2014 – 2015 FAFSA 2015 – 2016 FAFSA 2013 2014 Beginning Fall 2015 – 2016 FAFSA 2014 It is important to note the type of deadline you are up against. Ask your college/university about their definition of an application deadline, whether it is the receipt date and time or the process date and time of the application.

§ Your PIN is your electronic signature § Request PIN § one PIN for the student § one PIN for the parent www. pin. ed. gov § Use PIN to file and make online corrections

Student/Parent Complete FAFSA ONLINE Student decides which awards to accept, or decline. Loans amounts may be reduced EFC is Determined Awards are mailed to you, or posted online Check your Status SAR sent to student ISIR sent to schools College Determines Awards student is eligible to receive

§Grants: Gift, doesn’t have to be repaid §Loans: Must be repaid with interest §Work-study: Job on campus. Earn money while in school

2015 -2016 Award Amounts (Grants) n Federal Pell Grant: up to $5, 730 n Federal Supplemental Educational Opportunity Grant (SEOG): $100 - $4, 000 Federal Work-study § A job: Admissions office, Library, for a Professor, the Gym, Stringing Tennis Rackets § You will be paid by check for your work § Flexibility for vacations, summer, and tests.

§ Federal Perkins Loan up to $5, 500 § 5% interest rate § Direct Stafford Subsidized Loan: Interest deferred while in college. § Direct Stafford Unsubsidized Loan: Interest accumulates while in college Academic Year Interest rate Unsub. Loan Sub. Loan Max Total Freshman 4. 66% $2, 000 3, 500 $ 5, 500 Sophomore 4. 66% $2, 000 4, 500 $ 6, 500 Junior/Senior 4. 66% $2, 000 5, 500 $ 7, 500 § Direct Parent PLUS Loan - no minimum amount § 7. 21% interest rate § Repayment usually begins 6 -9 months after graduation

State Financial Aid Visit OSFA Website at www. Florida. Student. Financial. Aid. org Office of Student Financial Assistance – FCAN 2006

§ Application available in December of senior year at www. floridastudentfinancialaid. org § Students must apply to be considered for: § Bright Futures Scholarship § Florida Student Assistant Grant § Florida Work Experience Program § Jose Marti Scholarship

State of Florida Merit and Need Based Aid Programs Scholarship Name Award Amount FFAA Required FAFSA required FAS $3, 090. 00 FMS $2, 310. 00 X $2, 000. 00 X X Varies X X Full Tuition X X Tuition (minus) BF Award X Full Tuition X Varies X X Florida Resident Access Grant (FRAG) • Attending an eligible private, non-profit Florida institution. Up to $3, 000. X X Florida Student Assistance Grant (FSAG) • Attending a Florida Private/Public institution. Up to $2, 610. X X Access to Better Learning and Education (ABLE) Grant • Selected Private Institutions Up to $1, 500. X X Varies X X Bright Futures Scholarship José Martí Scholarship Challenge Grant Mary Mc. Leod Bethune Scholarship • FAMU, EWC, BCU, FMU Rosewood Family Scholarship Florida Incentive Scholarship • National Merit/Achievement designated Scholarships for Children and Spouses of Deceased or Disabled Veterans Grant Name First Generation Matching Grant Florida Work Experience Program • Awards are given through your college’s Financial Aid Office

FLORIDA BRIGHT FUTURES 2013 – 2014 AND AFTER Award Flat Rate Payout $103 per credit hr. FLORIDA ACADEMIC 30 credit payout: SCHOLARS $3, 090. 00 120 credits total FLORIDA MEDALLION $77 per credit hr. 30 credit payout: SCHOLARS $2, 310. 00 120 credits total 100% of program of FLORIDA GOLD SEAL study up to 72 credit VOC. SCHOLARS hours in an AS, AAS, CCC or PSAV’s: 60 credit hours in ATD’s Does not apply to AA, BA or BS degree BF PROGRAM GPA Requirement SAT/ACT Requirements Community Service 3. 5 weighted BF GPA 15 core academic classes 1290 SAT 29 ACT 100 hours of community service 3. 0 weighted BF GPA 1170 SAT 15 core academic classes 26 ACT. 75 hours of community service 3. 0 weighted BF GPA 3. 5 weighted GPA in 3 vocational credits SAME program 30 hours of community service SAT 880 M 440 / CR 440 ACT E 17 / R 18 M 19 CPT R 83 / S 83 Algebra 72 Number of years to Receive Initial Funding Number of years of Funding Available Within 2 years of High School Graduation Up to 5 years from High School Graduation

§ The applicant’s award status notification will be posted to the applicant’s FFAA account. PLEASE CHECK STATUS REGULARLY and make changes as needed.

§ The student must designate which post- secondary institution that they will attend in the fall semester. § Your college will be given names and SSN electronically of all eligible students. § At the end of the drop/add period, funds are either applied to the student’s account at the college or given to the student in a check.

• Students can access their own Bright Futures record on-line. Each student receives a PIN/login info when they apply. • This PIN enables students to view their eligibility status and update name, address, and school of attendance. • A history of the hours and dollars disbursed to each student is also available.

§ Full-time students must earn 24 semester hours (or the equivalent) per academic year § Students MAY enroll part-time and receive Bright Futures funding. Part-time students must enroll in a minimum of 6 hours per term Students Must Maintain § Florida Academic Scholars - 3. 0 GPA § Florida Merit Scholars - 2. 75 GPA § Florida Gold Seal Scholars - 2. 75 GPA

§ Apply for the State Financial Aid after December 1 st at www. floridastudentfinancialaid. org § Apply for the CSS Profile (if required) as soon as possible before deadline set by school (registration opens in October) at www. collegeboard. com § Request PIN number as soon as possible for FAFSA at www. pin. ed. gov § Apply for FAFSA after January 1 st at www. fafsa. ed. gov (Contact schools for exact deadline dates)

§When you complete your FAFSA, please print out the confirmation page and bring it to Mr. Milian. Please write your name and ID number on the top of the page

§ COA includes: § Tuition and fees (varies depending on credit hours taken) § Books and supplies (varies by cost of books) § Room and board (varies by type of room and meal plan desired) § Transportation (fly, or drive) § Personal expenses (clothing, entertainment, food) TIP COA may be referred to as “direct costs, ” “student budget, ” or “student expenses. ”

College Cost of Attendance Expected Family Contribution (EFC) = Financial Need Financial Aid Award = Unmet Need (Gap)

Florida State University Cost of attendance Estimated Undergraduate Costs for 2014 -2015 Academic Year On/Off Campus Florida Resident Tuition/Fees Differential Fee Room (Housing) Board (Food/Meals) Books/Supplies Transportation Personal TOTAL Non-Florida Resident $ 5, 016. 00 $ 1, 576. 00 $ 6, 160. 00 $20, 918. 00 $ 1, 576. 00 $ 6, 160. 00 $ 4, 048. 00 $ 1, 000. 00 $ 1, 344. 00 $ 2, 540. 00 $21, 684. 00 $ 1, 000. 00 $ 2, 816. 00 $ 2, 540. 00 $39, 058. 00

$5, 344. 00 Solutions: * Reduce costs Dorms Meal plan Transportation Personal Expenses * Find more financial aid

§ Campus Housing and Dining Services are self- supporting § First year students may be able to get a job that both pays hourly and provides meals for a reduced cost or free § Rent text books § Off-campus housing § However, you must consider: § Lease agreement § Utilities § Time for food purchase and prep § House cleaning time and products § Commuting time and/or parking

§ #1 - fill out your FAFSA § #2 – understand your scholarship renewal requirements § #3 – keep your EYES open while passing by bulletin boards in your potential major building § #4 – pass by financial aid office and check on scholarships § #5 – continue to receive my scholarship bulletin § #6 – academic advisor and financial aid advisor don’t speak the same language

Remember: Please inform each college that you decide not to attend with a simple notification. This will help to free up students on the wait list for admission. **************** Dear____; This is to inform you that I have decided to attend college elsewhere. I would like to thank you for the opportunity of being considered for admission into your fine institution and wish you well with your incoming freshmen class. Regards,