Mike Johnson, Director of Financial AidPacific University

Community Colleges$3,800 tuition, $15,000 total

Public Colleges and Universities$7,400 tuition, $21,000 total

Private Colleges and Universities$20,000+ tuition, $36,000+ total

Gift AidScholarshipsGrants

Self-Help AidEmploymentLoans

Awarded to students based primarily on academic merit, talents, and activities

Institutional scholarships Institutions’ websites

State-administered scholarshipswww.getcollegefunds.org

Outside scholarshipswww.fastweb.comwww.finaid.org

Awarded primarily to students who demonstrate significant financial “need”

Federal Grants Federal Pell Grant Federal Supplemental Educational

Opportunity Grant (FSEOG) Teacher Education Assistance for College and

Higher Education (TEACH) Grant State Grants

Oregon Opportunity Grants Institutional Grants

Awarded on a funds available basis primarily to students who demonstrate financial “need”

Federal Work-Study Institutional employment

Students do not have to demonstrate financial “need” to receive certain loans

Federal Perkins Loan Federal Direct Loan (subsidized and

unsubsidized) Federal Direct Parent PLUS Loan Private alternative loans

Admissions application Financial aid application (FAFSA) Student Aid Report (eSAR, SAR) Eligibility determination (ISIR) Need analysis Award notification Award disbursement

Free Application for Federal Student Aid (FAFSA) – students and parents can request Personal Identification Numbers (PINs) now at www.pin.ed.gov, then apply as soon as possible after January 1st at www.fafsa.gov

Collect all needed documents (2010 federal tax returns, current bank statements, etc.) before completing the FAFSA

Follow instructions and enter information carefully

Use close estimates if actual income information is not available

Retrieve IRS data if tax return filed (available January 30th)

List up to ten schools that can receive the information

Sign the form electronically with your PINs

Social Security numbers and name agreement

Parent definition Student independency criteria Household size/number in college Taxable income, taxes paid Untaxed income Assets

College Scholarship Service’s PROFILE – available in the fall to apply for institutional aid at participating schools

Institutional supplemental forms – provide schools with information not requested on the FAFSA

The Student Aid Report (eSAR, SAR) is the output document that results from filing the FAFSA

It will, among other things, provide the applicant’s Expected Family Contribution (EFC)

It may be used to correct or update certain information; changes can be made online at www.fafsa.gov

Schools receive information electronically and use it to determine eligibility, perform need analysis, and make and revise awards

High school diploma or equivalent U.S. citizen or eligible non-citizen status Registered for Selective Service if male

aged 18 to 26 Admitted to an eligible academic

program Not in default on a previous federal loan

and not owing repayment of a previous federal grant

Standardized assessment of a family’s ability to pay for a year of college based on past year income and current assets

Schools may require additional information to confirm or correct reported amounts

Federal “need” calculation:

Cost of Attendance (COA) -- Expected Family Contribution

(EFC) “Need”

Indicates “package” of aid from school May require written acceptance May include loan information Requires careful scrutiny since content

and format vary

Cost of Attendance: $15,000EFC 03000“Need” $12,000Federal Pell Grant $ 2,600FSEOG $ 600Oregon Opportunity Grant $ 1,300Federal Work-Study $ 2,000Federal Direct Loan (subsidized) $ 3,500Federal Direct Loan (unsubsidized) $ 2,000Total Award $ 12,000

Cost of Attendance $21,000EFC 03000“Need” $18,000Federal Pell Grant $ 2,600FSEOG $ 800Oregon Opportunity Grant $ 1,900University Scholarship $ 2,500Federal Work-Study $ 2,000Federal Direct Loan (subsidized) $ 3,500Federal Direct Loan (unsubsidized) $ 2,000Total Aid $15,300

Cost of Attendance $40,000EFC 03000“Need” $37,000Federal Pell Grant $ 2,600FSEOG $ 800Oregon Opportunity Grant $ 1,900Trustee Scholarship $ 12,000Institutional Grant $ 6,000Federal Work-Study $ 2,500Federal Direct Loan (subsidized) $ 3,500Federal Direct Loan (unsubsidized) $ 2,000Total Aid $31,300

Financial aid funds (except work-study) are applied to students’ charges when school startsFederal Work-Study funds must be earned

Funds that exceed billed charges are given to studentsFunds from Federal Parent PLUS Loans are

given to parents unless they have authorized giving them to the student

Award amounts may change ifFamilies correct or update FAFSA dataSchools revise FAFSA data based on

additional informationStudents receive outside scholarships after

financial aid has been packagedStudents drop classes or their credit

completion and/or grades do not meet minimum standards

Anticipated federal, state, or institutional funds are not available

“Need” is a federally defined concept and may not reflect a family’s actual financial situation

Schools may not be able to meet all of a family’s federally defined “need” with need-based aid

Future indebtedness should be carefully considered when accepting loans

Families should report to the school any special circumstances that will affect their ability to pay for college

Any college or university financial aid office

Federal Student Aid on the Web at www.college.gov and at studentaid.ed.gov

The Financial Aid Information Page at www.finaid.org

The NELA Center for Student Success in Portland at www.nela.net/centers

College Goal Oregon/Financial Aid Day sites each Saturday in January 2011 -- information soon at www.collegegoaloregon.org