Financial Aid 101 2010
Content
FINANCIAL AID 101
How to apply
Complete the FAFSA Forms are available:
ONLINE at:
www.fafsa.ed.gov
It¶s all in the timing«
Submit the FAFSA after January 1 Recommended filing date: February 15
The Big Question:
How is financial aid eligibility determined?
Estimated Cost of Attendance
=
Expected Family Contribution(EFC) ³Financial Need´
Institutional Programs
Merit Scholarships Need Based Grants and Scholarships Endowed Scholarships Athletic Scholarships
Federal Programs
Entitlement Programs
Pell Grant, ACG, SMRT
Campus Based Programs
± SEOG ± Federal College Work Study ± Federal Perkins Loan
Federal Programs, cont.
Federal Stafford Loans
(Student is borrower)
Freshman $ 3,500 Sophomore $ 4,500 Junior & Senior $ 5,500 All students can borrow additional
$2000
Federal Parent Loans (PLUS)
± $ Eligibility: up to Cost of Attendance less all other financial aid
State Programs
± Tuition Assistance Program (TAP) ± Higher Education Opportunity Program (HEOP) ± Merit Scholarships ± Lottery Scholarships
Special circumstances«
Communication is key
Notify school in writing Provide detailed documentation
Follow up with the school Most schools will help!
Financing Options
Monthly Payment Plans Private Education Loans College Savings Programs (a.k.a. 529 Plans)
Check the Web!
www.finaid.org The SmartStudent Guide to Financial Aid www.fastweb.com FastWeb Scholarship Search www.hesc.com NYS Higher Education Services Corporation
Questions?
Siena College
515 Loudon Road Loudonville, New York 12211 (888) AT-SIENA (toll-free) (518) 783-2410 (fax) [email protected] (e-mail) www.siena.edu/financialaid
How to apply
Complete the FAFSA Forms are available:
ONLINE at:
www.fafsa.ed.gov
It¶s all in the timing«
Submit the FAFSA after January 1 Recommended filing date: February 15
The Big Question:
How is financial aid eligibility determined?
Estimated Cost of Attendance
=
Expected Family Contribution(EFC) ³Financial Need´
Institutional Programs
Merit Scholarships Need Based Grants and Scholarships Endowed Scholarships Athletic Scholarships
Federal Programs
Entitlement Programs
Pell Grant, ACG, SMRT
Campus Based Programs
± SEOG ± Federal College Work Study ± Federal Perkins Loan
Federal Programs, cont.
Federal Stafford Loans
(Student is borrower)
Freshman $ 3,500 Sophomore $ 4,500 Junior & Senior $ 5,500 All students can borrow additional
$2000
Federal Parent Loans (PLUS)
± $ Eligibility: up to Cost of Attendance less all other financial aid
State Programs
± Tuition Assistance Program (TAP) ± Higher Education Opportunity Program (HEOP) ± Merit Scholarships ± Lottery Scholarships
Special circumstances«
Communication is key
Notify school in writing Provide detailed documentation
Follow up with the school Most schools will help!
Financing Options
Monthly Payment Plans Private Education Loans College Savings Programs (a.k.a. 529 Plans)
Check the Web!
www.finaid.org The SmartStudent Guide to Financial Aid www.fastweb.com FastWeb Scholarship Search www.hesc.com NYS Higher Education Services Corporation
Questions?
Siena College
515 Loudon Road Loudonville, New York 12211 (888) AT-SIENA (toll-free) (518) 783-2410 (fax) [email protected] (e-mail) www.siena.edu/financialaid
