Andy Hoge Director of Admissions and Placement NJ SEEDS Sarbeth Fleming College Counselor Westminster Schools John Leach Director of Financial Aid Emory University Goals for Today Overview of financial aid process ID: 798059
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Slide1
Building Connections with the Financial Aid Office: What interactions, contacts, and conversations do you need?
Andy Hoge, Director of Admissions and Placement, NJ SEEDS
Sarbeth
Fleming, College Counselor, Westminster Schools
John Leach, Director of Financial Aid, Emory University
Slide2Goals for Today
Overview of financial aid process
Engaging in the FA process: The Family, the CBO, and the College
Golden Nuggets of FA
Slide3The College Process at times feels like the Wild West
Social Networking
Merit Aid
Reporting of Data
Meeting “full need”
Early Decision
Total Cost of Attendance
Use of Federal Shopping Sheet
Net Price Calculator
Slide4Make higher education accessible to students who
can’
t
afford it on their own
Enable
students
to apply to first-choice
colleges
Attend college based on best fit
Equity in distributing limited
funds
Role of merit
a
id
Background: What
is the purpose of
need-based
financial aid?
Slide5Background: How
do students apply for
need-based
financial aid?
Federal formula
FAFSA (Free Application for Federal Student Aid
)
- tax transcript
Institutional formula
CSS/Financial Aid PROFILE
At school
’
s discretion:
Institutional application
Tax returns and W-2 forms
Noncustodial Parent PROFILE
Families must reapply annually
Slide6Background: How
is eligibility for
financial
aid determined?
COST OF EDUCATION
-
Estimated Financial Assistance (or outside resources)
-
Family contribution (EFC)
_________________________________
.
=
STUDENT
’
S FINANCIAL NEED
Slide7Background: How is the family contribution determined?
Parent contribution from income
Parent contribution from assets
Student contribution from income and assets
Slide8Background: How is financial need met?
Gift aid
Grants
Scholarships
Self-help aid
Employment
Student loans
Slide9Background: Important terms
FAFSA
CSS Profile
Expected Family Contribution (EFC)
Need-blind
Demonstrated Need
Demonstrated Interest
Yield Potential
Gapping
Award Letter
Grants
Scholarships
Loans
Cost of Attendance (COA)
Work Study
FERPA
Slide10The Right Fit
When does “fit” matter more than financial aid?
What role do parents play in this conversation?
What is “
undermatching
” and what does it have to do with financial aid? *
*
Addressed in report by Caroline
Hoxby
, et al.
Slide11Talking to the Financial Aid Office
How does the CBO communicate with the College Counseling Office, and how does this relate to financial aid?
Who do you need to know? What role does the college admission office play? How can you advocate for your students in the financial aid office?
Do financial aid offices make themselves available to high school counselors or CBOs?
What are the big concerns of a financial aid office?
What’s the best approach?
Slide12Golden Nuggets for Financial
A
id
Fly In Programs (
www.collegegreenlight.com
)
Early Decision: Times are a-
changin
’
Deadlines matter
Help your students to be self-advocates
The FA Appeal
Equal opportunity programs (HEOP, EOF, and BEOP)
What colleges might be most friendly to your students? Are there specific qualities to look for?
Slide13Golden Nuggets for financial aid
Beyond
US NEWS & WORLD REPORT
The schools with the right stuff
Average Net Price for Low Income Families
Graduation Rate for Underrepresented Minority Students vs Overall Graduation Rate
% Pell Recipients
Retention to Year 2
Endowment per Student
Fly In Programs
Handout
Slide14Questions?
Thank you!