Financial Aid

Learn more about the ways you can obtain the financial resources you need to make it through college.

Transcript

2. Financial Aid
3. • Money to help one pay for college • Comes from a variety of sources – Federal and State Government – Colleges – Private Organizations
4. • You may be eligible to receive financial aid if… – You are a citizen or eligible non-citizen of the US – You have a high school diploma or GED – You are enrolled in an eligible institution – Registered with the Selective Service (men only) – You maintain acceptable academic progress as determined by the institution
5. • Grants • Scholarships • Earned Money • Loans
6. • State Grants • Federal Grants – Pell Grant – TEACH Grant – VA Education Benefit
7. • Various Criteria • From colleges and other organizations • FAFSA is still necessary • Search ASAP • Watch for scams
8. • Campus Employment - Portion applied to student account • Off-campus Employment
9. • Federal Loans - Direct • Borrower: Student • Based on need • $500-$5,500 • 3.86% Interest rate - PLUS • Borrower: Parent /Grad Student • Not based on need • $500-cost of attendance • 6.41% Interest Rate
10. • Private Loans – Offered by private lenders – Criteria varies – Requires credit approval – May require co-signer
11. Applying for Financial Aid
12. • Apply for Dept. of Education PIN (pin.ed.gov) • Complete FAFSA on the Web Worksheet – Available January 1 • Complete FAFSA4caster – Early estimate of financial aid eligibility
13. • Complete the FAFSA on-line (fafsa.ed.gov) – Sign electronically with PIN – As soon after January 1 as possible – List College Choices • Up to 10 Federal school codes – Both student and parent financial information • Bank statements and investment records • Current tax returns and W-2s
14. • Check with individual colleges • Apply for Scholarships • Student Aid Report • Award Letters and Offers
15. • MBU.edu • StudentAid.ed.gov • YouTube.com/FederalStudentAid • FaceBook.com/FederalStudentAid • FAFSA.ed.gov • StudentLoans.gov • FastWeb.com • Collegeboard.com
16. • Email: FinancialAid@mbu.edu • Phone: 1-920-206-2318