College Parents of America brings you timely information on Financial Aid Application check list, key concepts and overall process.

1. Financial Aid 101-
Apply for Financial Aid
Making Dollars and Sense
Don’t go to College without us….

2. Financial Aid 101 – Apply for Financial Aid
To be eligible for federal financial aid you must...
Be a U.S. Citizen or eligible non-citizen
Maintain satisfactory academic progress
Be enrolled in a degree or certificate
program
Attend a participating college
Male applicants must register with the
Selective Service

3. Financial Aid 101 – Apply for Financial Aid
Where Should I Start with My Financial Aid Application?
Request your pin Complete the Free Applying early
and your parent Application for increases your
should also apply Federal Student chances for grants
for a pin: Aid (FAFSA) at and other types of
www.pin.ed.gov www.fafsa.gov financial aid.

4. Financial Aid 101 – Apply for Financial Aid
What items do I need to fill out the Free Application for Federal
Student Aid (FAFSA)?
Records of Taxable You may also need the
following records if such
& Untaxable financial circumstances
Income Received are applicable for you.
W-2 Parent Investment Records
W-2 Student Business / Farm
Records
Income Tax Forms
Federal 1040 – Parent
Federal 1040 - Student
For more details on items needed to fill out FAFSA, please click here.

5. Financial Aid 101 – Key Concepts
What is the Expected Family Contribution (EFC)?
It is determined by a federal formula calculated using data from
1 the FAFSA.
It is the amount of money family can reasonably be expected to
2 contribute.
It has two components: Parent Contribution and Student
3 Contribution.
4 All schools will get the same EFC.
5 EFC may change from year to year.

6. Financial Aid 101 – Key Concepts
What is the Cost of Attendance?
Direct Indirect
Costs Costs
Cost of
Tuition and Room and
Fees
Attendance
board
Books and Personal
Supplies
Travel
Calculation of Need:
Expected
Cost of
Attendance
Family Need
Contribution

7. Financial Aid 101 – Key Concepts
What is the Gift Aid? What is the Self-Help Aid?
• Gift Aid is the aid
that you don’t need
to pay back.
Student Loans
Institutional Repayment
Grants after
graduation
Federal Grants Parent Loans
Scholarships Work Programs
Pell Repayment
Private Work up to 20
SEOG when loan is
Institutional hours per week
LEAP disbursed
Gift Self-
Help
Aid Aid

8. Financial Aid 101 – Apply for Financial Aid
The process of Financial Aid Application
Student submits FAFSA.
Student receives a Student Aid Report (SAR)
from the federal government by mail or by email.
Processing center sends results with
Expected Family Contribution (EFC) to the school
(s) that the student indicated on the FAFSA.
School(s) sends award letter to student with
instructions on how to accept or decline aid
offered.
Content: courtesy of Francisco Granillo, Former Financial Aid Officer at Arizona State University.

9. Financial Aid 101 – Apply for Financial Aid
Don’t forget to…
• List your college choices on your FAFSA. You can list up
to ten schools on the FAFSA.
• Contact the admissions representative at your preferred
schools.
• Work closely with the financial aid office at your
preferred schools.
Other Resources:
• FAFSA on the Web: www.fafsa.gov
• Parent Resource Center: www.collegeparents.org
• General Information: www.studentaid.gov
Content: courtesy of Francisco Granillo, Past Financial Aid Officer at Arizona State University.

10. You have questions, we have answers!
College Parents of America and get more tips and advice on:
How to understand your college student’s financial aid package;
How to write a scholarship personal statement;
When and where to search for scholarships; and Much More…
For more information, please contact us the following ways:
www.CollegeParents.org
888-761-6702