Financial Aid

As seniors are finishing up their college applications, many are now turning their eyes toward their financial aid options.

Most students will need to fill out the FAFSA form (FAFSA stands for Free Application for Federal Student Aid) and it is essential to meet the deadlines established by your colleges of choice to determine what amount of aid they can offer. (For example, many deadlines will be February 15th.) So this is definitely not something you can put off now that we have hit the first of the year. There are some people who will automatically assume that they do not qualify for financial aid and it is important not to make assumptions and to read the fine print from the colleges carefully as there are some colleges that won't offer any financial packages (including merit scholarships) without having a FAFSA on file. Additionally, there are some colleges that will require students to complete the CSS Profile. Specific questions about each college's requirements and deadlines should be addressed to the financial aid offices at each respective college.

The way financial need is determined is taking the “Cost of Attendance” (which includes tuition, fees, room, board, books, and other miscellaneous expenses) and then subtracting from that the “Expected Family Contribution” and the remaining difference is what is known as your “Financial Need.”

The financial aid administrators remind us that usually people do not agree with their Estimated Family Contribution, but it is the same for everyone so it is fair across the board.

For what it is worth, it is also important to know that it depends upon each school as to whether they guarantee to meet your entire financial need with a financial aid offer. You can usually find this information on the college financial aid website.

If you are a freshman, sophomore, junior, or the parent of a student in one of these grades, you may be interested in using the FAFSA4caster which provides an estimated Expected Family Contribution to give you an idea of what you might qualify for regarding federal aid including grants.

When you are completing the FAFSA application, please remember that this is a FREE application – do not pay to have someone help you fill it out as there are plenty of opportunities to get free assistance to complete it if you need it. You will also want to make sure that you are using the correct website –http://www.fafsa.gov/ – (do not use .com as that is a site that has a fee.)

You can request your PIN number now, but please make sure you save it and keep it in a safe place for future use as this will be your permanent PIN number. Parents, you will also need your own PIN number unless you have one that you have utilized with older students as it is the same PIN number for all of your children.

When you are filling out the FAFSA form please pay attention to who they are asking for information about – the beginning of the form is all about the student and later it is about the parents. This can be confusing if your parents are helping you fill out the form because it says “you and your” so sometimes parents will accidentally put their information in rather than putting in the student information.

If your parents are divorced, you will use the parent with whom you live with the majority of the time. You fill out the form based upon your “household” so anyone living in that household and under that roof are included in your FAFSA. So, for example, if your parents are divorced and you live with your mom who is remarried then your FAFSA application will include the information from your mom and your step-dad.

Please remember that you cannot fill out your FAFSA forms until after January 1st and the FAFSA must be completed each year. You will need your tax information as well as your parents tax information. If you cannot get the tax information completed early enough to meet the deadlines from the colleges, then be sure to use estimated numbers and then go back and revise the information once you have the actual data.

To help you with the college financial aid process we will have a financial aid meeting for students and parents at 7:00pm at WKHS on Tuesday, January 7th. There is also an event known as “College Goal Sunday” which is Sunday, February 9th where financial aid administrators will provide free expert help in completing the FAFSA forms. To find locations and to register you can visit http://www.ohiocollegegoalsunday.org/.