21
Award Letter
FAFSA 2020-2021
Questions ??????
An award letter is the documentation sent from a college or university to the student that details for how much financial support the student is eligible
*Full Pell is 6,345 for 20-21 school year
Types of Loans
Types of Financial Aid
Subsidized - Interest is paid by Gov
Unsubsidized - You will pay interest on Loans
Federal Loans - Loans you qualify for after completion of FAFSA (Limit per year and can run out)
Private Loans- Come from a private lender (Sallie Mae,Discover, etc.)
Direct PLUS Loans- are credit-based, unsubsidized federal loans
for parents
Grants - Free Money, Doesn't need to be paid back
Usually pertains to financial circumstances
Scholarships - Free Money, Doesn't need to be paid back.
Usually pertains to academic or athletic achievement
*There may be stipulations to keep scholarships
Loans - Money that needs to be paid back.
Federal Work Study- provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses.
FAFSA
Documents/Items Needed
as a Student and Dependent
Free Application for Federal Student Aid
https://studentaid.ed.gov/sa/fafsa
Get your FSA ID for you and Your Parent
Allows you to Log-in and "sign" FAFSA
Documents/Items Needed
as a Parent
FSA ID
SSN -(If not a US citizen but an eligible non-citizen Permanent Resident Card)
Driver's License - If applicable
2019 Taxes Returns and W2's
*Students will be considered a Dependent and will need to provide parent/guardian information if you are younger than 24, not married, have children, or never been in foster care. Please see me if you have extenuating circumstances that you think would make you independent.
FSA ID for at least one parent
SSN
Date of Birth
Month/Year of Marriage, Separation, Divorce or became Window (If applicable)
Current Savings, Investment, and business Info
2019 Federal Tax Returns and W2's (if filed, to complete 20-21 FAFSA)
https://blog.ed.gov/2020/09/7-things-need-fill-2021-22-fafsa-form/