FINANCIAL AID

PRESENTED BYKATRINA L. SARTIN MATANO, MBA

DIRECTOR OF STUDENT FINANCIAL SERVICES & FINANCIAL AID

WARNER PACIFIC COLLEGE

National Christian College Fairs

Why a Christian college?

• High-quality education from a Christian world view

• Christian community that emphasizes character development, service and spiritual growth

• Preparation for life, as well as a living

Why Choose a Christian College?

Financing a College Education

Combination of resources -- Family Federal Government State Government College Private Sources

What is Financial Aid?4

Financial Aid is money provided to students and their families to help supplement their ability to pay for postsecondary educational expenses.

The primary responsibility for postsecondary educational expenses rests with the student and his/her family.

Financial Aid Programs

Grants Federal State Institutional

ScholarshipsFederal Work-StudyFederal Loans

Student Parent

Free Application for Student Financial Aid (FAFSA)

FreeStandard form that collects

demographic and financial information about the student and family

Used to apply for federal and state grants, work-study and loans

Calculates eligibility for financial aid

How is Financial Aid Determined?7

www.fafsa.gov

FAFSA4Caster8

Early Start! Experience similar to

FAFSA on the Web Allows transfer of

FAFSA4Caster data to FAFSA on the Web

Option to apply early for PIN

Increase knowledge of financial aid process & other sources of aid

What is the Expected Family Contribution (EFC)

Amount family can reasonably be expected to contribute

Federal formula used to calculate EFC, based on FAFSA data

Stays the same regardless of college

Role of the Financial Aid Office

Determines Cost of Attendance (COA)

Evaluates family’s ability to pay & eligibility: Expected Family Contribution (EFC)

Offers financial aid based on COA & EFC

Distributes resources in an equitable manner

Counsels families on financial issues

10

Cost of Attendance (COA)

College responsible for determining

Indirect Costs

Books / Supplies

Transportation

Personal Expenses

Direct CostsTuition / FeesRoom & Board (if on campus)

Financial Aid Formula

Cost of Attendance - Expected Family

Contribution = Financial Need

Scholarships

College scholarships Check deadlines and eligibility criteria

OSAC Scholarship Application February 1, 2013 Early Bird Review &

chance to win $500 scholarship March 1, 2013 final deadline www.getcollegefunds.org

Use free national scholarship searches www.finaid.org www.fastweb.org Other

Private and Other Sources

Local community organizationsAlternative education loans EmployersInternetNational and Community Service

(Americorps)Veterans BenefitsMilitary Service Scholarships (ROTC)Bureau of Indian Affairs (BIA) Grants

Special Circumstances

Should your circumstances change after you file your FAFSA, contact your college’s financial aid office Change in employment status

Medical expenses not covered by insurance

Change in parent marital status

Unusual dependent care expenses

Financial Aid Calendar

Year-Round Scholarship Search

January 1st

Apply for financial aid using FAFSAMarch/April

Receive financial aid award letter from collegeMay 1st

Reply dateSummer

Apply for loansAugust/September

Classes begin, financial aid applied to account

Senior Year of High School