Financial Aid

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Let's start with a wonderful resource shared by a parent that has all of the most current up-to-date information for students looking to go college. This webpage is the place to start! ReadySetGrad.org


The single most important thing you must do to receive financial aid is to complete the FAFSA. Some colleges and scholarships require additional application forms, but the FAFSA is your starting point for all financial aid. 
Apply for your FSA ID, which consists of a user-created username and password .  

www.finaid.com


Financial Aid Videos:
Sign up for the free Federal Student Aid Channel on YOUTUBE at  www.youtube.com/user/federalstudentaid On this YOUTUBE Channel the FSA have video links to help you through the process of preparing for post-secondary education.  Topics include:

  • Preparing for College
  • Types of Aid for College
  • Who Gets Aid for College
  • FAFSA (Applying for Aid)


Who
should complete a FAFSA? All students should complete the FAFSA, regardless of your income. Many colleges require students to submit a FAFSA to be considered for any type of scholarship or financial help, regardless of income.


When
should I complete a FAFSA? During the fall of your senior year. You and your parent cannot share the same FSA ID. You must apply for an FSA ID and your parent must apply for an FSA ID. An FSA ID serves as part of a person’s identification, as well as their electronic signature, and should only be used by that individual.apply forat FAFSA FSAID


Save this information to send your FAFSA electronically to each college. There is a place to mark if you have or have not completed your IRS Tax forms. FAFSA now offers an optional link directly to IRS forms. Allow three weeks from electronic IRS submission for records to be accessible to FAFSA.


What
happens after I submit my FAFSA? Shortly after you submit your FAFSA, you will receive an SAR (Student Aid Report). This SAR also goes to each of your colleges. The SAR contains a very important figure: your EFC (Estimated Family Contribution). This is the dollar amount the federal government believes your family should be able to contribute toward the cost of your college education. If you disagree with your EFC, you may submit a “Letter of Special Circumstance” to each of the colleges you’re applying to.


What
if I’m not eligible for financial aid? If you are not eligible or if your family cannot complete a FAFSA, you should explain your situation to staff at the Financial Aid office of each college you’re applying to. You may also apply for scholarships this way, though you may need extra help from your school’s guidance counselor if you do not have a FAFSA.


When
do I hear how much financial aid I will receive? After you have received an acceptance letter from a college, the Financial Aid office of that college will send you a financial aid package. It will usually be some combination of family contribution, grants, loans, work-study, and scholarships. Note that you do NOT have to accept this financial aid package. You should discuss it with your family and your school counselor before agreeing. If you do not think the financial aid package will work for you, contact the college Financial Aid staff and explain why.


What
should I do now to be ready? Here are three simple things you can do to be ready to apply for financial aid when you are a senior: (1) Attend a college or financial aid presentation with your family so that they understand how financial aid works; (2) Complete the FAFSA 4Caster to get an early estimate of how much financial aid you might receive (www.fafsa4caster.ed.gov); and (3) See above to each apply for the FSA ID's.

Information provided by Office of the Superintendent of Public Instruction - OSPI.

Olympia School District Senior Parent Night October 17, 2013 - Break out sessions