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Paying for College

Steps:

1.         1. Estimate Expected Family Contribution (EFC) for college

a.       http://www.fafsa4caster.ed.gov/

b.      http://www.finaid.org/calculators/quickefc.phtml

4.       2.. Complete the Free Application for Federal Student Aid (FAFSA) online as early as January

a.       Parent and student both need a pin number (www.pin.ed.gov)

b.      Complete income tax return to insure accurate data for FAFSA

c.       http://www.fafsa.ed.gov/

5.       3. Send FAFSA ‘s Student Aid Report (SAR) to all prospective colleges

a.       SAR is an estimation of financial aid need

b.      Financial Aid = COA – EFC

c.       SAR will indicate eligibility for

                                                               i.       Federal grant programs (free money for college)

                                                             ii.      Loans

                                                            iii.      Federal work-study programs

                                                           iv.      And for some schools – scholarships opportunities

6.       4. Upon acceptance, colleges generate a Financial Aid package according to the students FAFSA report which is mailed to you containing:

COA (Cost of attendance)

-EFC (Estimated Family Contribution)

-PELL Grants

 -Scholarships

RFN (Remaining Financial Need)

7.       5. Compare award letters from prospective colleges

8.       6. Accept only 1 award letter

9.       7. Apply at anytime for additional local, state, and national scholarships

a.       Caution: don’t pay for a search (could be a scam) – there are numerous that are free

b.     Check FHS Counselor Corner web site: http://www.fisd.us/high/counselorcorner/index.htm

c.       www.bridges.com (site id 1211505, password: tigers)

d.      www.collegboard.com

e.      www.fastweb.com

f.        www.finaid.org

g.       www.meritaid.com

h.      www.petersons.com

i.         www.brokescholar.com

Counselor Corner