Financial Aid Information
2016-2017 Financial Aid Meeting - November 14, 2016 at 7:00 pm
Seniors and their parents apply for financial by completing the Free Application for Federal Student Aid (FAFSA) after October 1st of their senior year. Go to the FAFSA website to learn more about the process and how to obtain pin numbers prior to applying. Pay close attention to Financial Aid Deadlines!
#AskFAFSA Office Hours on Twitter
The Federal Student Aid, U.S. Department of Education welcomes students to join them at 4 p.m. Central time on the last Wednesday of each month for#AskFAFSA Office Hours. This live Q&A session on Twitter gives students, parents, and mentors the opportunity to get questions answered by the experts. Each month they feature a different topic related federal student aid. You submit your questions and join the conversation using the hashtag #AskFAFSA and tune in during the live event for answers from our experts. www.Twitter.com/FAFSA.
If you don't have a Twitter account? Watch the stream live at http://bit.ly/AskFAFSA2. An archived transcript of the Q&A session will be posted at www.storify.com/FAFSA the day after Office Hours.
Ben Kohl from Kohlidescope came to speak to Juniors and Seniors during the 2015-16 school year. He shared the following documents.
FSAIC (Federal Student Aid Information Center)
Federal Student Aid for Students
Financial Aid Calculators
Guide to Federal Student Aid
U.S. Department of Education
Educational & Training Vouchers for Current & Former Foster Care Youth
College Tax Tips
Guide to the FAFSA
FINANCIAL AID INFORMATION
Fastweb’s College Gold
College Goal Sunday
Mapping Your Future
FTC Project Scholarship Scam
SOURCES OF AID
K.I.D.S. Matching Grant Program
Always borrow federal first. Federal student loans are cheaper, more available and have better
repayment terms than private student loans.
Federal Perkins Loan
Awarded based on exceptional need. Interest is subsidized and fixed at 5%. No fees.
Favorable benefits may be lost upon consolidation.
REPAYMENT begins 9 months after graduation or dropping below half-time enrollment status.
Federal Stafford Loan
Subsidized Interest accrues with graduation for loans made in 2012-13 and 2013-14 Repayment still begins 6
months after graduation. Fixed interest rate is 3.4% if loan originated on/after July 1, 2011 for undergraduate students. 1% fees. Unsubsidized Interest accrues during school. Fixed interest rate is 6.8% if loan originated on/after July 1, 2006. 1% fees. On loans first disbursed on or after July 1, 2009, annual limits have increased by $2,000 for independent and dependent undergrads.
REPAYMENT begins 6 months after graduation or after dropping below half-time enrollment status.
Federal Parent PLUS Loan
If loan originated on/after July 1, 2006: Direct PLUS fixed interest rate is 7.9% with 4% fees. REPAYMENT begins 60 days after full disbursement, or 6 months after student graduates or drops below half-time. Interest
continues to accrue during deferment.
Federal Consolidation Loan
Combine loans to one lender. Fixed interest rate is the weighted average of the loans rounded up to the nearest 1/8 of a % and capped at 8.25%.
Eligibility, interest rate and fees based on better of borrower and cosigner credit scores. More expensive than Federal student loans. For more information on private/alternative loans, visit: www.finaid.org/privateloans
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