Financial Aid

From Sallie Mae School Assist Team:

• After being accepted to college, you’ll receive a financial aid offer that outlines your financial aid eligibility at that specific school.

• Each financial aid offer will contain similar information overall, but since there’s no standard format they can be difficult to interpret.

• In this session you’ll learn how to decipher each financial aid offer so you can confidently determine which college is the best fit.

• Cal Grants and Webgrants 4 Students

• www.calgrants.org and www.webgrants4students.org

• With a Cal Grant you can get up to $12,630 a year to pay for college expenses at any qualifying CA college, university or career or technical school in CA

• Depending on which Cal Grant you get (A, B or C), the money can be used for tuition, room and board, even books and pencils

• The best part is, it's yours to keep and you don't have to pay it back

• All you have to do is submit the FAFSA between October 1 and March 2

• DREAM Act Application: AB540 students

• As of January 2013, students who are not California residents will be eligible to apply for financial aid by filling out a DREAM application

• DREAM App serves as an application for state financial aid (Cal Grant & BOG waiver) and grants/scholarship from public colleges and universities

https://dream.csac.ca.gov/landing

• To access the CCS Profile (College Scholarship Service) Visit https://cssprofile.collegeboard.org

• Some private colleges require this form because they have more money to disburse, and they need more information for the student and parents to determine aid

• A list of participating schools can be found on the website

CCS Profile

• Application opens on October 1st!

• Do this form between Oct 1st - March 2nd (earlier is better!) of your senior year and every year you are in college

• All students who are planning on attending any post-secondary school need to fill out this free application for aid

• It is the opportunity for you to ask for financial help for college, and will protect you if there is a family financial disaster

• You can access the application at www.fafsa.ed.gov

• Also, some of the more expensive private institutions require students to submit the CSS Profile, which you will find on the College Board website. You'll also need to submit the FAFSA if you are submitting the CSS Profile

FAFSA

• Net Price Calculator - from the U.S. Department of Education

• On this sight, students can search for a college or university's calculator to determine how much a student they will need to pay AFTER subtracting scholarships and grants received

The Net Price Calculator

Is a tool that you can use to estimate your “net price” to attend a particular college or university. Net price is the difference between the “sticker” price (full cost) to attend a specific college, minus any grants and scholarships for which you may be eligible. Sticker price includes direct charges (tuition and fees, room and board) and indirect costs (books and supplies, transportation and personal expenses).

How does it work?

• First, the Net Price Calculator looks at the sticker price. Then, using the financial information you enter into the calculator, the Net Price Calculator estimates the amount of money your family would be expected to contribute to pay for college.

• Finally, the Net Price Calculator, evaluates your eligibility for financial aid at specific colleges by matching your financial and personal characteristics to the criteria and schools use to distribute financial aid (need-based grants as well as merit-based scholarships).

How can the Net Price Calculator help me? Net price is the key to understanding what a specific college is likely to cost, and allows you to better compare your out-of-pocket expenses from one college to another.

It can help you widen your college choices beyond those institutions that you think you can afford.

It is possible that your net cost will be lower at a college with a higher sticker prices or higher at a college with a lower sticker price. You may find that some colleges you thought were financially out of your reach may be very affordable. Remember, “financial fit” is just one of the many factors you will want to consider in choosing a college.

Thank you to our DHS Counselor Mrs. Heise for this information!

Net Price Calculator Center