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Financial Aid Process Explained

Financial Aid Process Explained

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Author: Octavio Cruz
Description:

This web-based lesson serves as guide and resource for navigating the financial aid process. This information is intended to be completed individually by 12th grade high school students. 

AMERICAN SCHOOL COUNSELOR ASSOCIATION (ASCA) NATIONAL STANDARDS FOR STUDENTS

Career Development

ASCA National Standards for career development guide school counseling programs to provide the foundation for the acquisition of skills, attitudes and knowledge that enable students to make a successful transition from school to the world of work, and from job to job across the life span.

Standard A: Students will acquire the skills to investigate the world of work in relation

C:A1 Develop Career Awareness

C:A1.7 Understand the importance of planning

Source: http://static.pdesas.org/content/documents/ASCA_National_Standards_for_Students.pdf

OBJECTIVE: Students will understand the importance of planning as it relates applying for financial aid in order to pay for college.

FAIR USE DISCLAIMER: 
Portions of these materials have been incorporated under the Fair Use Guidelines and are restricted from further use.

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Tutorial

TASK - 12 GRADE STUDENTS

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.

WHAT IS THE PRIORITY FAFSA FILING DATE FOR CALIFORNIA?

APPLYING FOR FINANCIAL AID - FAFSA WEBSITE

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

FAFSA - FILLING OUT THE ONLINE FORM STEP BY STEP

FAFSA RESULTS - EXPECTED FAMILY CONTRIBUTION

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.  

WHY IS THE EXPECTED FAMILY CONTRIBUTION (EFC) IS SO IMPORTANT?

Below you will find a short video that explains how the EFC is used in the financial aid award process.

FINANCIAL AID AWARD LETTER

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.

FINANCIAL AID AWARD LETTER SAMPLE

FINANCIAL AID TYPES - FEDERAL GOVERNMENT

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).

FINANCIAL AID TYPES - STATE OF CALIFORNIA

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.

FINANCIAL AID PROCESS OVERVIEW

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

FAIR USE DISCLAIMER

Portions of these materials have been incorporated under the Fair Use Guidelines and are restricted from further use.

BIG QUESTION?

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