The following resources were designed to help students entering the 12th grade to better understand the financial aid process. Although many students and parents can find the application process a bit overwhelming, this web-based lesson will describe the key components associated with applying for and securing financial aid to pay for college. Please go through the following resources and take notes on a separate sheet of paper. You will need this information for the short quiz at the end of the lesson.
OBJECTIVE: Students will understand the importance of planning as it relates applying for financial aid in order to pay for college.
Below you will find a short video that describes the initial steps involved in applying for financial aid via the Free Application for Federal Student Aid (FAFSA) online application. https://studentaid.ed.gov/sa/fafsa
Your Expected Family Contribution (EFC) is an index number that colleges use to determine how much financial aid you're eligible to receive. Your EFC is calculated according to a formula established by law and the information from your Free Application for Federal Student Aid (FAFSA). Below you will find a short video that explains what happens after filing your FASFA online.
Below you will find a short video that explains how the EFC is used in the financial aid award process.
What's a financial aid award letter?
Financial aid award letters are keys that can help you unlock how you’ll pay for school, including how much you’ll have to pay on your own. If you submitted a Free Application for Federal Student Aid (FAFSA) and were approved for financial aid, every school that accepted you will send you a financial aid award letter.
Schools have different names for these letters: financial aid offer, merit letter, award letter, or financial aid package. Plus, there’s no standard format, so they can look different from one another. This can make comparing them a little difficult, but we can help you with that.
Federal Aid
The federal government is the largest financial aid provider in the nation. Types of financial aid for college that the federal government offers include loans, grants, and work-study funds. Anyone who wants to apply for federal financial aid must file the Free Application for Federal Student Aid (FAFSA).
State Aid
State governments offer grants, scholarships, work-study funds, state loans, and tuition assistance. You can learn more about the financial aid for your particular state by contacting your state’s financial aid agency. The financial aid counselor at your school may also have information about state programs.
This video provides a great overview of the financial aid process. It provides some important tips to follow as you navigate the steps to secure your financial aid to pay for college
Portions of these materials have been incorporated under the Fair Use Guidelines and are restricted from further use.
Now that you have completed this web-based lesson that explains the financial aid process. Please click on the Google Forms link below and complete the 5 question quiz. You must answer all five questions in order to receive credit for this assignment
https://docs.google.com/forms/d/1Fwp8Uep4KHf-6G1AP_q5RgIhK6GfZ9FSm4SGJj5MNEI/edit
