This document provides information about the financial aid process including: - Completing financial aid applications like the FAFSA and CSS Profile and understanding key terms. - The components that determine financial need such as cost of attendance and expected family contribution. - Types of financial aid like grants, scholarships, work-study, and loans. - Tips for applying for financial aid and private scholarships including meeting deadlines and tailoring applications.

1. Chris George
Assistant Vice Chancellor for Enrollment
& Director of Financial Aid

3. 






Family Discussions
Net Price Calculators
Seek and Apply for Private Scholarships
Apply for Financial Aid
Financial Aid Award Letter (Aid Package)
Multi-year commitment
Rising Costs

4. 
Welcome to the Financial Aid, I need the
following information:
◦
◦
◦
◦
◦
◦
Salary
Investments
Cash, Savings, Checking balance
Home Value
Taxes Paid
Tax Transcript from the IRS

5. 
Colleges have varying deadlines
◦ Priority deadlines
◦ Ask what it means?

What Applications are required?
◦ FAFSA, CSS PROFILE, institutional
◦ Scholarship applications

Terms
◦ Start developing a glossary
◦ studentaid.ed.gov (Types of Aid)

6. 
Determines eligibility for
merit based aid
◦
◦
◦
◦
◦
◦
Evaluate GPA
ACT and/or SAT Scores
Extracurricular Activities
Leadership
Community Service
Teacher Recommendations

7. ◦ Establishes the cost of attendance
◦ Evaluates family’s ability to pay by
determining an expected family
contribution (EFC)
◦ Offers financial aid based on the cost of
attendance and the expected family
contribution

8. 
Cost of Attendance
◦ Direct Costs
 Tuition and Fees
 Room & Board
◦ Indirect Costs
 Books & Supplies
 Transportation
 Personal Expenses

9. 
FAFSA – Free Application for Federal Student Aid
◦ Required to determine eligibility for many federal, state
and institutional aid programs which can include
scholarships, grants, work study and student loans
◦ studentaid.ed.gov

CSS PROFILE – College Board
◦ Many private universities and scholarship providers
require the CSS PROFILE application to determine financial
eligibility for institutional aid programs
◦ student.collegeboard.org/css-financial-aid-profile
◦ $25 Application Fee

10. 
Financial Need
Cost of Attendance
- Expected Family Contribution
Financial Need
◦ Need varies based on cost
◦ Most colleges are unable to meet 100% of
financial need with scholarship and grant aid

11. 




Grants and Scholarships
Self-help Aid
◦ Work Study
◦ Direct Stafford Loans
Additional Loan Resources
◦ Parent PLUS or Private Loans
Multi-year investment and costs
Tuition increases

12. 
Tips for Completing Applications
◦ Meet Deadlines
◦ You can estimate information on both the FAFSA
and CSS PROFILE applications
◦ Reapply every year
◦ Ensure Social Security Number is correct
◦ Send applications to the correct institutions
◦ Ask questions if you are unsure

13. 
Financial Aid Office & Website
◦

Application Completion Events
◦
◦
◦

Webinars / Chats / Videos / FAQs
High School
FAFSA Free for All Events
Financial Aid Office
Department of Education
◦
◦
@FAFSA
http://studentaid.ed.gov

14. 

No, but excessive borrowing is!
How much will your payment be?
◦ Loan Balance of $10,000
◦ 3.86% interest rate
◦ Standard 10 year Repayment Plan
A.
B.
C.
D.

$80
$100
$120
$140
For every $10,000 in loan balance, you will pay ~$100 per
month for 10 years. $2,070 in interest

15. 

Don’t borrow more
than your first year
salary
What do teenagers
think their salary
will be?
Source: Charles Schwab – Teens & Money Survey 2011

16. 






Civic Groups/Organizations (Rotary, Lions)
Foundations (Daniels’ Fund, Gates)
Religious Organizations
Corporations (Target, Coca Cola, Ford)
High School Counselor
College or University Financial Aid Office Website
Online Resources

17. 
Use multiple FREE scholarship
search sites
◦
◦
◦
◦
◦

fastweb.com
bigfuture.collegeboard.org
scholarships.com
My College Dollars (Facebook App)
College In Colorado (Financial Aid)
Search and apply to scholarships
as soon as possible
Adapted from Mark Kantrowitz & FinAid.org

18. 

Answer all optional questions on scholarship
search sites
Apply to every scholarship for which you are
eligible
◦ Scholarships for less than $1,000 often have fewer
applicants

Persistence pays
◦ Skill and luck are involved


Meet deadlines
Tailor your application to sponsor’s goals
Adapted from Mark Kantrowitz & FinAid.org

19. 
Clean up your online profile
◦ Perform a Google search on your name
◦ Review public profile on Facebook,
LinkedIn, Twitter, & YouTube


Print, read and speak your essay to
correct spelling and grammar
mistakes
If you have to pay to get money, it’s
probably a scam
Adapted from Mark Kantrowitz & FinAid.org

20. 




Talk about what the family can afford
Utilize Net Price Calculators
Understand dates and deadlines for both admission
and financial aid
Inform colleges about special circumstances
Investigate and apply for private scholarships

21. Chris George
Asst. Vice Chancellor for Enrollment &
Director of Financial Aid
@CGeorge_DU
303-871-4020
finaid@du.edu