b'Q : applying for admissions at multiple institutions as well asWe view the Financial AidHOW DO WE KEEP TRACK OF ALL THE INFORMATION? forfinancial aid offer When applying for financial aid/outside scholarships, it can be easyletter as the things to slip through the cracks. As you begin your senior year of high school, it would be helpful to create a detailed and exact timeline of im- beginning of a portant dates and deadlines. One of the most difficult conversations toconversation of have during the financial aid process is in regard to a missed deadline.how to make it ITS NOTWE WONT QUALIFY FOR ANYTHINGfinancially work AS SCARY ASQ :SO WHY SHOULD WE FILE THE FAFSA? at our institution.While there is a possibility that your family might not qualify for federal YOU THINK grants, submitting the FAFSA gives financial aid administrators the opportunity to exhaust all available resources. Institutions determine financial need based on a simple equation:$234.9 billionUnderstanding a Cost of Attendance (COA) - Expected FamilyThe total amount of grant aid few of the basicContribution (EFC) = Financial Need. received by undergraduate and concepts will helpSubmitting the FAFSA gives financial aid administrators the informa- graduate students in 2020-21. as your familytion they need to ask good questions and make the best determinationBetween 2010-11 and 2020-21, plots the collegefor the student. institutional grant aid for under-search course. Q : WHAT IF THE RESULTS OF MY FAFSA DO NOTgraduate students increased by 62% and accounted for aboutDESCRIBE OUR FINANCIAL SITUATION? half of all grant aid for under-Talking about money is hard. Period. Be assured the conversations yougraduate and graduate students 55% have with financial aid representatives are confidentialwe under- in 2020-21. Aid from states has stand it can be difficult and we commit to being respectful and kind.been increasing over the past The FAFSA application requires previous years taxes and is completed8 years. Percentage of 2020in the fall. The federal government has provided a provision for insti- (College Board, college graduates whotutions so they can adjust for special financial circumstances that aretrends.collegeboard.org)had student loan debt,not accounted for on the FAFSA. These adjustments range from job with an average ofloss, income reduction, pension distribution or medical expenses. You $28,400 per borrower. can begin the adjustment process by first filing the FAFSA and thenHELPFUL WEBSITEScontacting a financial aid representative at the institution. (ticas.org/posd/home) Q : CAN WE APPEAL FOR ADDITIONAL FINANCIAL AID? Federal Student Aid$14,800 studentaid.ed.gov/saIn 2020-21, undergraduateQ : WHERE DOES THE MONEY COME FROM? Yes. We view the financial aid offer letter as the beginning of a con- FinAidstudents received anversation of how to make it financially work at our institution. While We will start with one simple phrasethe discount rate. Theour intent is to provide the best offer up front, we understand the com- finaid.orgaverage of $14,800 in aiddiscount rate represents the portion of total tuition and fee revenueplexity of putting every family in the same situation. We encourage per full-time equivalentchanneled back to students as grant-based financial aid. The institu- and look forward to the opportunity to discuss the intricate details ofCollege Toolkit(FTE) student, includingtional funds are then divided into two main categories for establishingthe financial aid offer with your family. If the provided financial aidcalculators.collegetoolkit.com/grants from all sources,awarding criteria. The first category of merit or earned aid, is mostoffer does not work for your family, contact your admissions recruiter federal loans, and acommonly classified as academic, athletics, art and music scholarships.or financial aid representative to inquire about more funding for you tocalculator/main.aspxcombination of tax creditsThese scholarships are based on performance criteria and do notattend that institution. It is not helpful to compare the financial aid offers depend on the results of the FAFSA. The second category of need- of multiple institutions. Comparing offer letters between institutionsDavid Burneyand Federal Work-Study.based aid is awarded dependent on the FAFSA (Free Application foris like comparing an apple to a fruit cake. It simply does not work.Director of (College Board,Federal Student Aid) and includes general need-based scholarshipsFinancial Aidtrends.collegeboard.org) and institutional work-study.Financial aid professionals are paid to be experts in the field to provideJohn Brown you with the most resources possible. Dont hesitate to call if you haveUniversityquestions. We are always here to help. 110 For more financial aid information go to myblueprintstory.com/financial-aid 111'