Quick Facts about Financial Aid
Financial Aid is available for students attending a variety of schools including: Community College,
Universities, Art Institutes,
FAFSA—The FAFSA application (Free Application for Federal Student Aid) is the only way to apply for grants, government loans (the “good” loans), and work-study money. Apply in January!
Grants ---- Most students from low-income families get up to $5,600 per year in grants to attend
1. Pell Grant --- up to $4,050 / year
2. Federal Supplemental
Important Note: Beware!!! If you qualify for grants and you work during your senior year, or while you’re in college, then you could be wasting your time. IF you earn more that $7,000 per year at your job, then every dollar you earn above the 7,000 is $1 less that you will receive in grant money. For example, if you were going to receive $4,000 in grants, if you work at lot at earn $10,000 at your job, then your grant award will be $3,000 less, because you earned $3,000 more than the $7,000 limit. SO you just worked about 400 hours extra for nothing! ($3,000 divided by minimum wage, after taxes). You could have stayed home and gotten the $3,000 in grants instead of having to work for it. The bottom line is that if you warn more than $7,000 per year, then the government expects you to use the rest to pay for college.
FAFSA PIN – Before you can apply for financial aid online, you need to register for a Personal Identification Number (PIN) for you and your parents. This serves as your electronic signature when you fill out the FAFSA online.
SENIORS: If you plan to start college in the fall of 2007, you and your parents need to submit a FAFSA between January 1 and
FAFSA on the Web -- The paper FAFSA is being eliminated pretty much only way to fill out a FAFSA any more. You can pick up a paper worksheet in the counseling office to be prepared to fill the FAFSA out online.
Western Undergraduate Exchange Program: Interested in 2-year or 4-year public schools in the western states? Check out the WUE program you could attend college for a reduced tuition level: 150 percent of the institutions regular resident tuition. WUE tuition is considerably less than nonresident tuition.
FinAid Page – Has everything you need to know about financial aid. Includes Fastweb free scholarship search and sort’s financial aid based on your preferences, including all OSAC scholarships.