Financial Aid
FAFSA presentation: aid year 2024-2025
What is Financial Aid?
Financial aid is a combination of grants, scholarships (money you don’t have to pay back), and loans (money you do have to pay back), and work-study funds. In order to receive financial aid, you must first complete the FAFSA.
What is the FAFSA?
FAFSA – Free Application for Federal Student Aid: https://studentaid.gov/h/apply-for-aid/fafsa
Application that students complete to receive student aid for college - aid may include grants, scholarships, loans, and work-study funds.
Even if you think you will not qualify for aid, many colleges require the FAFSA to initiate the scholarship process - even for merit based scholarships.
Re-designed for 2024-2025 Aid Year and is not yet available - waiting on official launch date (sometime in December).
Typically, this form is available to submit after October 1st and is submitted to all schools to which a student plans to apply for admission.
FAFSA should be submitted to schools by their priority filing date (usually between January – March) - check each college’s financial aid webpage for priority filing date
In order to remain eligible for the ACCE program, you must submit your FAFSA to NRCC by Feb. 15.
All “To-Do List” items must be complete and submitted to NRCC by March 15 (if applicable) - see the Log-In Instructions page for directions on how to view your "To-Do List" items
The FAFSA requires "Contributor" financial information (new term for 2024-2025 FAFSA):
A Contributor refers to anyone who is required to provide information, consent and approval, and a signature on the FAFSA form - includes student, student's spouse (if applicable), a biological or adoptive parent(s), and a step-parent (if applicable) - determined by student's dependency, tax filing, and marital status
A Contributor MUST PROVIDE consent and approval to have their federal tax information transferred directly from the IRS into the FAFSA form, as well as a signature on the form - if consent is not provided, the student is not eligible for any type of federal financial aid
Contributors will complete their own sections of the form and must receive an email invitation from the student
The student will need the contributor's full name, date of birth, social security number, and email address in ordre to send the invitation
Being identified as a contributor DOES NOT mean they will be financially responsible for student's school costs
Upon receiving the FAFSA, schools will process the information and then send the student an award letter, which details the amount of financial support the college is able to provide the student for the upcoming year (in the forms of grants, scholarship, loans, and work-study funds).
What will I need to complete the 2024-2025 FAFSA?
Before beginning the FAFSA, students AND parents need to create an FSA ID: https://studentaid.gov/fsa-id/create-account/launch
The FSA ID is a username and password that will allow you to access and sign your FAFSA
Both the student AND parent MUST create an FSA ID before being allowed to begin the FAFSA
The FAFSA website will prompt you to create the FSA ID before beginning your FAFSA
You should have the following information and documents with you as you fill out the Free Application for Federal Student Aid (FAFSA) :
All relevant financial and tax information from 2022 for BOTH parent AND student
Social Security Number (for both student and parent(s)/step-parent) – it is important that you enter it correctly
2022 tax returns including IRS W-2 information for the student, parent, and spouse (if married)
Records of your untaxed income, such as child support received, interest income, and veterans non-education benefits for the student, parent, and spouse (if married)
Information on cash, savings, and checking account balances; investments (including stocks and bonds and real estate but NOT including the home in which you live); and business and farm assets
Your Alien Registration Number (if you are not a U.S. citizen)
Financial Aid Videos
This website takes you through the aid application process and gives you detailed instructions to:
Get prepared: Gather the Documents you'll need
Complete the FAFSA form
Review the Student Air Report (SAR)
Respond to Aid Offer
Receive Aid
Renew your FAFSA form
How do I report a 529 plan?
The answer to this question depends on who owns the plan - the student, parent, or other family member. Read this article below for specific information about how and where to report 529 plans on the FAFSA.
What is the CSS Profile?
This is an online financial aid application that collects information by almost 400 colleges, universities, and scholarship programs to award financial aid from sources outside the federal government.
If required, this form is completed in addition to the FAFSA.
The college/scholarship program will instruct you to complete this if required.
What about scholarships?
All scholarships and enrichment opportunities given to the BHS counseling office are listed on the BHS Scholarship Site located under the “BHS Scholarship Information” on the Counseling Office website.
The site is organized by scholarship deadline and is updated frequently - check it often
Scholarships are also announced on Twitter - follow @BburgHSBruins
Check each school’s financial aid page to find scholarships specific to the institution - some have a separate scholarship application that is required.
Typically, merit based scholarships have an earlier application deadline
Some scholarships require a lot of work from you, whereas others simply ask you to sign-up. These are a lot like winning the lottery, but someone has to win and it could be you.
If you are willing to put time into research and writing essays, you will have the possibility of earning several scholarships.
Check with foundations, religious or community organizations, local businesses and civic groups, and professional organizations for your major.
Ask your family members about scholarship offerings through their employers or clubs in which they belong.
Reputable Scholarship Search Sites
Scholarship Tips
Applying/organizing scholarships:
Establish a new email for college applications/scholarships - you will probably get a lot of emails
Use this spreadsheet to keep you organized
Set a weekly/monthly goal for the number of scholarships to which you will apply
Essay writing:
Learn who your audience is - go to the organization’s website and read their mission statement and organizational goals/objectives
Read previous winning essays
Pay close attention to details and meet all essay requirements (if they say to use 11 pt. font, use 11 pt. font)
Have someone review your rough draft and make revisions
Spellcheck, grammar check, AND proofread prior to submission
Reuse essays if applicable and tweak as needed
Warning signs to avoid scholarship scams:
“The scholarship is guaranteed or your money back.”
No service can guarantee that it will get you a grant or scholarship.
“The scholarship will cost some money.”
“Free” money shouldn’t cost you a thing.
“The service will do all the work.”
No one else can fill out personal information forms, write essays, and supply the references that many scholarships require.
“You can’t get this information anywhere else.”
Scholarship directories are available online, in any bookstore, library, or high school guidance office.
“You are a finalist in a contest you never entered or have been selected by a foundation to receive a scholarship.”
Most legitimate scholarship programs don’t seek particular applicants.
The scholarship service needs your credit card or checking account number in advance
Never provide your credit card or checking account number on the phone to the representative of an organization that you do not know.