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FINANCIAL
AID INFORMATION FOR POST-SECONDARY TRAINING
Students and parents should not assume that they cannot afford a
particular college or university. Financial
aid often makes it possible for students to attend colleges they would
have thought too expensive.
The following are sources of financial
assistance for postsecondary students.
Federal Pell Grants
Campus
based Programs
Federal Supplemental Educational Opportunity Grants
Federal Work-Study
Federal Perkins-Loans
William
D. Ford Federal Direct Loans
Federal Direct Stafford Loans
Federal Direct PLUS Loans
Federal
Family Education Loans
Federal Stafford Loans
Federal PLUS Loans
Grants (Pell and FSEOG) do not have to be repaid; loans (Perkins, Direct, and FFEL) must be repaid.
Work-study (FWS)
provides income from a part-time job. Federal Pell Grants are
awarded through strict rules set by the Department of Education.
If a student is eligible on the basis of these rules, an eligible
school may pay the student his or her Federal Pell Grant and will be
reimbursed by the Department of Education.
Scholarships are also a source of money that is
awarded because a student is outstanding in some area.
This can be provided through the college (based upon grade point
average, college test admission test scores, and/or class rank) or awarded
through local sponsoring agencies with varying requirements.
Students are encouraged to apply for all scholarships.
Most students will find that financial aid generally comes in the
form of a “package”. A
package is a combination of grants, scholarships, loans, and work study. Packages are awarded through the financial aid office, and
will vary from college to college.
Important
phone numbers:
Federal Student Aid Information Center:
General
Information: 1-800-4-FED-AID
(1-800-433-3243)
TDD
(for the hearing impaired)
1-800-730-8913
Toll
number for application status checks
319-337-5665
Important
Wed Sites:
ED’s Information for Students:
http://www.ed.gov/offices/OPE/Students/
FAFSA on the Web:
http://www.fafsa.ed.gov
Funding Your Education:
http://www.ed.gov/prog_info/SFA/FYE
The Student Guide:
http://www.ed.gov/prog_info/SFA/Student Guide/
Completing the FAFSA:
http://www.ed.gov/prog_info/SFA/FAFSA
TO OBTAIN FINANCIAL AID, FOLLOW
THESE STEPS:
1.
In the fall of your son or daughter’s senior year, complete the
individual financial aid (and scholarship) application forms for each
college to which your son or daughter is applying.
2.
Obtain a FAFSA (Free Application for Federal Student Aid) from your
high school guidance office in December and have all of your tax
information organized early. The
FAFSA is a federal form which asks for information on income and assets. Approximately 3 - 10 weeks after you have mailed your FAFSA,
you will receive an SAR (student aid report) which will inform you of your
EFC (estimated family contribution).
This is the amount they have determined you can afford to pay for
your son or daughter’s education that year.
If the cost of the college is more than your EFC, you have a
financial need and should be eligible for financial aid.
Contact the college’s financial aid office for further
information and assistance. 3.
In addition to the FAFSA, some colleges also require the submission
of the CSS/Financial Aid Profile. The
financial Aid Profile is a need analysis and there is a processing fee.
Contact your high school guidance office for information and forms.
4.
Attend any financial aid nights and/or meetings that may be offered
in your area. Canon
City High School will host a FINANCIAL AID WORKSHOP on January 12 at 7:00
p.m. in the High School Auditorium. Representatives
from Financial Aid and Admissions from the University of Southern Colorado
and a representative from the Southern Colorado Educational Opportunity
Center will be available to share information that evening.
This should be an very informative meeting and all parents are
encouraged to attend.
5.
Complete the FAFSA as soon after January 1 (or after the financial
aid meeting) as possible. Even
if you know that you will not qualify for any need based aid because of
your income, you should still complete the FAFSA. Colleges and
organizations often want it verified that students are not eligible for
need based aid before they award non-need based aid.
Tip:
Before you send the FAFSA, make a copy.
A
FINAL CHECK-LIST FOR SENIORS AND PARENTS.
1.
Have your career plans be finalized?
2.
Have you taken the appropriate tests for admissions into your post
secondary study?
3.
Have you completed all necessary application forms for further
training?
4.
Have you considered all financial aid?
5.
Have you made a decision in a career area?
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