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Transcript of Visit Days
What is the Expected Family Contribution (EFC)?
Why Calculate an EFC?
CUW Net Price Calculator and FAFSA4caster
What You Need to Know About Financial Aid
Preview for 2016-2017
Ali Facklam & Leah Kluck
Free Application for Federal Student Aid (FAFSA)
A standard form that collects demographic and financial information about the student and family
Let us know if.....
Money students and/or parents borrow to help pay educational expenses
Regents & Presidential Scholarship
Student Aid Report (SAR)
Review data for Accuracy
Student Financial Aid FSA ID
What is Financial Aid?
Financial Aid is funds provided to the student to help pay for postsecondary educational expenses.
For the 2016-2017 academic year, the FAFSA may be filed beginning January 1st, 2016
Concordia's School Code: 003842
Colleges may set FAFSA filing Deadlines
FAFSA Priority Deadline
Concordia's Priority Deadline is March 1st
Good Reasons to File Online
Built-In Edits, Skip Logic, Timely, Check Status of Application
Detailed Instructions and 'Help' for common questions
Simplified Renewal Application Process
IRS Data Retrieval
Have IRS data pull directly into FAFSA
Must wait 2 weeks after filing taxes electronically and 8 weeks for paper filing
Sign FAFSA electronically
Can request FSA Username and Password NOW!
Use to access information online
Both student and one parent will need FSA ID
Update estimated information when actual figures are available
If necessary, corrections to FAFSA data may be made by logging back into the website (www.fafsa.gov)
Verification is a process to ensure accuracy
The amount the Department of Education believes the family can reasonably contribute towards the student's education
The EFC is used as an index to determine Financial Aid
Concordia will determine all Federal, State and Institutional Aid
Cost of Attendance - Expected Family Contribution (EFC) = Financial Need
Deadlines and applications vary
Apply! Apply! APPLY!!
Foundations, businesses, charitable organizations
$7,000 - $12,000
Private Scholarships, Churches, Organizations
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
Money that does NOT have to be paid back
Usually awarded on the basis of Financial Need
Application process usually takes place spring of senior year
Small scholarships add up!
Research what is available in your community
Repayment usually begins 6 months after graduation
Look at loans as an investment in the future
Employment status changes
Medical expenses are not covered by insurance
Change in parent marital status
Unusual dependent care expenses
Thank you for coming!
Financial Aid Counselor
Last Names A - K
Financial Aid Counselor
Last Names L - Z
1 out of 3 applicants are selected by the Department of Education
To verify tax information a student may use the IRS data Retrieval or submit a signed tax transcript