All About Financial Aid

Name: Rickey Jenks

https://www.gafutures.org/
Financial Aid Basics
● The Federal Government
● State Government
● Colleges and Universities
● Community Groups
College costs are basically the cost associated with college, like the attendance can make
fees ect.
The EFC Calculator is to estimate how much the student’s family will be expected to
contribute for the year. After all, you can’t make a realistic plan to cover the student’s
share if you don’t have any idea what the student’s share could be.
Types of Financial Aid
There are five types of financial aid

● Scholarships
○ Scholarships are considered free money or gift aid, because you usually don’t need to pay back
○ Zell Miller Scholarship, and Hope.
● Grants
○ Grants are a type of financial aid that doesn’t have to be paid back either.
○ Federal Pell Grant.
● Loans
○ Loans are borrowing money from the bank, government or lending institution with the understanding that you have to
pay back.
○ Student loans
● Work-Study
○ Undergraduate, graduate and professional students with financial need can participate in the Federal Work-Study
program, numerous postsecondary institutions offer work-study employment opportunities to students.
○ Working in a library or dining hall
● Savings Plans
○ Although not a form of financial aid, having a traditional savings account or, even better, a saving plan is a great way to
offset the immediate out-of-pocket costs that going to college can have on a family.
○ Savings account, 529 saving plan.
Who Can Get Financial Aid?

● Be a high school graduate or GED recipient.

● Be a U.S. citizen or eligible permanent resident.
● Be enrolled in an eligible program of study.
● Be registered with the Selective Service System, if you are a male (you must register
between the ages of 18 and 25).
● Have a valid Social Security number.
The Selective Service is an independent agency of the US government that maintains
information on those potentially subject to military conscription and carries out contingency
planning
How to continue using Financial aid.
● Making adequate grades.
● Completing enough classes or credit hours.
● Moving toward successfully completing your degree or certificate.
HOW DO I APPLY/PLANNING

The first way that you can apply is buy filling out the Free Application for Federal Student Aid
The second way to apply is the by using the GSFAPP which is the another Georgia application for
students looking for grants and scholarships.
The third way is a CSS/Profile or a College Scholarship Service Profile an online application
created by the US college board.
The fourth application is the Dual enrollment application, duals enrollment is a way to gain
college credits before you even get into college you can apply in high school.
There are also small types of sources of financial aid that's usually come with independent
scholarships.
HOW DO I APPLY/PLANNING

Some of the differences between the FAFSA and the GSFA are that when the GSFA is
completed it is only valid for seven years. But, The FAFSA may need verification from the
college, they will ask you to summit documents that you entered on the FAFSA which
slows down the awarding process of state and federal aid. Unlike the GFSA which if
eligible the state aid pays and processes part or all of the standard tuition.
Complete Aid Process
1. Get Informed
2. Compare Aid Offers
3. Reply to Aid Offer
4. Sign Loan Agreement
5. Complete Entrance Counseling
HOW DO I APPLY/PLANNING
Georgia HERO is a scholar program created to give Georgia National Guard and US
military reservists who served in combat zones a chance at a educational grant assistance.
The HERO program is also administered by the GFSA

Some of the requirements for the Georgia Hero program include, the fact that you have to
be enrolled and accepted for admission in an eligible Georgia college or university.
Sources
https://bigfuture.collegeboard.org/pay-for-college/paying-your-share/expected-family-contribution-calculator

https://www.gafutures.org/federal-aid-scholarships/financial-aid-basics/understanding-college-costs/

https://www.gafutures.org/federal-aid-scholarships/financial-aid-basics/types-of-financial-aid/

https://www.gafutures.org/federal-aid-scholarships/financial-aid-basics/who-can-get-financial-aid/

https://www.sss.gov/

https://www.gafutures.org/federal-aid-scholarships/financial-aid-basics/how-do-i-apply/

https://cssprofile.collegeboard.org/

https://studentaid.gov/h/apply-for-aid/fafsa