FINANCIAL AID TRIO CONNECTIONS OF CENTRAL FLORIDA BREAK - - PowerPoint PPT Presentation

TRIO CONNECTIONS OF CENTRAL FLORIDA

FINANCIAL AID

BREAK DOWN

Financial aid is money received from state and federal governments, private sources and non-profit organizations that is awarded to assist students in paying for college tuition and

• ther educational expenses.

WHO CAN RECEIVE FINANCIAL AID?

U.S. citizen or eligible noncitizen High school diploma

• r equivalent

Eligible degree/certificate program in college/career school Valid Social Security number Males registered for Selective Service Satisfactory academic progress in college/career school

TYPES OF FINANCIAL AID

• Gr

Grants ants – Do not need to be repaid *

• Pell Grant (Federal)
• Stud

Student Loa ent Loans ns – Must be repaid, plus interest

• Subsidized (Federal)
• Unsubsidized (Federal)
• Parent PLUS (Federal)
• Private
• Feder

ederal al Wor

• rk Study

k Study – Money is earned in the form

• f a paycheck, does not need to be repaid
• Mostly on campus positions, can be off

campus

• If you qualify, you will still need to visit your

school’s Work Study office and apply

• Sc

Schola holarships ships – Merit or need based. Do not need to be repaid

• Bright Futures
• Private
• School

Fed eder eral P al Pell ell Gr Gran ant t Awar ards ds

• Awarded based on financial need to low-income,

undergraduates to promote access to higher education.

• Grant amounts based on EFC, cost of attendance,

enrollment status and whether or not the student attends for a full academic year or less. Fed eder eral Supp al Supplemen lemental Educ tal Educationa tional l Op Oppo portun tunity ity Gr Gran ant t (F (FSEOG) SEOG)

• Offered to Pell recipients with an EFC of 0.
• Administered though your college’s financial aid
• ffice.
• Not all schools participate - Check with your

intended to college to see if they offer it.

FEDERAL GRANTS

LOANS

Perkins Loans Direct Subsidized Direct Unsubsidized Direct Plus Direct PLUS for Graduate and Professional Students

Subsidiz Subsidized ed Loans Loans

• Available to undergraduate student

who demonstrate financial need.

• Federal Department of Education

pays the interest while you are enrolled in school and for certain designated periods. Unsubsid nsubsidiz ized ed Loa Loans ns

• Available to undergraduate and

graduate students.

• Not
• t based on financial need.
• Student is responsible for interest

throughout the duration of the loan.

DIRECT LOANS

Repayment of federal loans begins 6 months after graduation!

Par aren ent PL t PLUS US

• Enable parents to borrow money

for their children’s educational expenses.

• Based on credit worthiness.
• Parents and students must meet

student aid eligibility. Pr Prof

• fes

ession sional al De Degree ee/ / Gr Grad adua uate te Stu Stude dents nts

• Enables graduate/professional

degree seeking students to borrow towards their education.

• Must meet general eligibility

requirements.

DIRECT PLUS LOANS

SCHOLARSHIPS

Academic (Based on GPA) Athletic (Awarded to student athletes by colleges) Career Oriented Private Donor Foundation or school scholarships

• 4 English, 4 Math, 3 Science, 3 Social

Science, 2 World Language

• 3.5 weighted GPA
• 29 ACT or 1290 SAT
• 100 hours of community service

Florida Academic Scholars (FAS)

• 4 English, 4 Math, 3 Science, 3 Social

Science, 2 World Language

• 3.0 weighted GPA
• 26 ACT or 1170 SAT
• 75 hours of community service

Florida Medallion Scholars (FMS) Gold Seal Vocational (GSV)

• 3 full credits in career and technical

education programs and have a 3.5 GPA in those classes

• 3.0 weighted GPA in non-electives
• 30 hours of community service

BRIGHT FUTURES REQUIREMENTS

BRIGHT FUTURES REQUIREMENTS

Earn a standard HS diploma

• r equivalent

Florida resident

Enroll in an eligible degree program at an eligible Florida postsecondary institution

Be enrolled in at least 6 non- remedial credit hours Funding for summer terms

• nly available for FAS and FMS

• 100% of tuition and

applicable fees

• $300 stipend (Fall and Spring)
• Available in the Summer

semester

Florida Academic Scholars (FAS)

• 75% of tuition and applicable

fees

• Available in the Summer

semester

Florida Medallion Scholars (FMS)

BRIGHT FUTURES AWARD AMOUNTS

Bright Futures funding is available for nonpublic, private institutions

HOW TO COMPLETE THE FAFSA

Create a FSA ID at FSAID.ed.gov Gather the documents you need to apply Complete a FAFSA at fafsa.ed.gov Receive confirmation FAFSA has been processed

Apply for Scholarships

WHAT DO YOU NEED TO COMPLETE A FAFSA?

STUDENT

• Your FSA ID
• Your Social Security Number and

date of birth

• Your Alien Registration Number

(if you are not a U.S. citizen)

• Student (if applicable) federal

income tax returns, W-2s and

• ther records of money earned
• Driver's license or state ID

PARENT

• Your FSA ID
• Your Social Security Number and date
• f birth
• Your Alien Registration Number (if

you are not a U.S. citizen)

• Parent’s federal income tax returns,

W-2s and other records of money earned

• Driver's license or state ID
• Month and year of marital status

changes

FREE APPLICATION FOR FEDERAL STUDENT AID OR FAFSA IS THE GATEWAY TO FEDERAL AID WWW.FAFSA.ED.GOV

USING THE DATA RETRIEVAL TOOL

• The Data Retrieval Tool –
• r DRT transfers tax

information directly from the IRS.

• You will need an FSA ID to

use.

• Schools prefer you to use

the DRT when completing a FAFSA.

COMPLETE A FAFSA EVERY YEAR THAT YOU NEED TO USE FINANCIAL AID!

MAKE SURE TO CHECK YOUR CONFIRMATION PAGE AFTER COMPLETION!

Compare your financial aid packages from each school

Calculate how much you will

• we out of

pocket

FINANCIAL AID DISBURSEMENT

• After you enroll in classes for the first time,

your FA will be processed by the school you are attending.

• You will need to “accept” your FA and “defer”

your payment, this will extend your due date to pay for classes.

• The school’s FA office will process your aid and

pay for any tuition and eligible fees on your account and notify you if you still owe a balance.

• Once this is done, and you have a balance of $0,

the school’s FA office will disburse any remaining aid in the form of a refund.

SPECIAL CIRCUMSTANCES

• You need your parent’s tax information to complete it. If your tax

information does not reflect current financial status, meet with your FA office.

• If you are unable to receive tax information from your parent, you

will need to meet with your FA office.

• If you have documentation indicating you were/are homeless or in

foster care, you will need to turn that documentation into the school and answer FAFSA questions accordingly.

• If you are under DACA, you are not eligible for federal aid.

MAINTAINING YOUR FINANCIAL AID OR STANDARDS OF ACADEMIC PROGRESS (SAP)

Maintain a minimum 67% completion rate of attempted classes Maintain a minimum 2.0 GPA Do not exceed the maximum time frame for completion of degree Do not exceed the maximum credit hours for degree or 150% of credits needed

NEED MORE HELP?

TRIO Connections of Central Florida

(407) 708 - 2452 TRIO@seminolestate.edu Make an appointment at: SeminoleState.edu/TRIO