Financial Aid

Financial Aid Night Presentation | Posted 9/28/20
The Financial Aid Night Presentation held on September 28, 2020 can be downloaded below:
Video Presentation
Financial Aid Presentation 20-21 (PDF)
2021-2022 FAFSA (PDF)
FAFSA Tips 2021-22 (PDF)
Federal Loan Programs & Work Study Handout (PDF)
Scholarships Search (PDF)

Financial Aid Night Presentation | Posted 10/22/18
The Financial Aid Night Presentation held on September 26, 2018 can be downloaded below:
2018-2019 Financial Aid Night Presentation

Financial Aid Night Handouts/Videos | Posted 9/15/16
The handouts from the Financial Aid Night held on September 14, 2016 can be downloaded below:
2016-2017 Financial Aid Night Presentation
Scholarships Search
Federal Loan Programs and Work Study Programs
FAFSA Tips
2017-2018 FAFSA Draft Version
What’s an FSA ID?
Loan Repayment Chart

Financial Aid Night YouTube videos:
Overview of the Financial Aid Process
FAFSA Overview
How to Fill Out the FAFSA
After the FAFSA: What Happens Next
Determining your Dependency Status
Myths About Financial Aid

Financial Aid

All seniors planning to attend some type of accredited post-secondary institution should fill out the FAFSA (Free Application for Federal Student Aid) with their parents as soon as possible AFTER January 1. Parents should plan to have their tax information available as quickly as possible, as the FAFSA requires specific numbers directly from the tax forms. The priority deadline for the FAFSA is March 1. Most schools begin awarding financial aid in March, sometimes even earlier. Just because you qualify for a particular type of aid does not mean you will receive it. The early bird gets the worm, so please fill out your FAFSA as quickly as possible. (Ex: All MAP Grant monies were used by the middle of February last year. This means that if you qualify for a MAP Grant, but don’t file the FAFSA in time, you may lose out on an average of $4,700 in free money.) Parents can’t get their taxes done early? Use the previous year’s taxes to estimate what your amounts will be this year, then go back later and plug in the actual numbers. This way you won’t lose out on any awards! Institutional Scholarships – many universities offer scholarships based on the admission application. Some universities require additional forms for scholarships. Please check with the financial aid office and/or admissions office to make sure you are filling out all the necessary forms in order to maximize the amount of money you will receive to attend college. Many of these scholarships are for four years and amount to a large sum of money (ex: $12,000 for four years = $48,000 in scholarship money you do not have to pay back). It is really important to get to know your financial aid representative in the financial aid office and your admissions representative for each school you received an acceptance letter from. The better they know you, the better they can serve you.

Financial Aid Questions
Colleges should mail out financial aid award letters to incoming freshmen during the month of March. Wait until you receive all award letters so you can compare final costs for each school. Parents and students should discuss the cost of college and what the college offers academically to make a final decision. If you have questions concerning the financial aid award letter, please contact the financial aid office of that school. They will be able to explain your options. Always accept grants and scholarships first, as these do not have to be paid back. Only accept loans if necessary, and accept the ones with the lowest interest rates first. Remember, loans through the federal government can be deferred until the student ceases going to school full time, so these are a great advantage if you must take out loans. If you need additional money to attend school, contact the financial aid office to see if there are any other options for you. Ask about unused scholarships from students who transferred before completing their degree. The financial aid office should be able to help you find options to pay for school.

Applying for Financial Aid

Financial Aid applications, known as the FAFSA (Free Application for Federal Student Aid), should be filled out as soon as possible after January 1. You DO NOT have to file your taxes in order to do this, but must have the tax forms filled out correctly. If you estimate on the FAFSA, you will have to file a correction and this can greatly delay the process of receiving financial aid. Two Ways to File the FAFSA: 1. Apply online. (preferred and easiest) 2. Fill out the paper version of the FAFSA. To file online, go to www.fafsa.ed.gov, click on “Students and Parents Apply for a PIN” or go to www.pin.ed.gov. The PIN is your personal identification number and allows you to sign the FAFSA electronically. The student and parent much each have a PIN. After you receive your PIN, click on “Fill Out Your FAFSA.” Fill in the necessary information using your taxes and information from your checking and savings accounts. Be sure to pay attention to which information pertains to the student and which information pertains to the parents. To file a paper FAFSA, you must download a PDF file from the Internet. This can be found at http://www.fafsa.ed.gov/options.htm. Need help with financial aid? Watch the website and calendar for this year's financial aid night to be held at Plano High School. There will also be a FAFSA Completion Night at NCHS if you need help filling out the FAFSA online or in paper form. To file the FAFSA online: www.fafsa.ed.gov To get a PIN to sign the FAFSA: www.pin.ed.gov Questions? Please give Mrs. McAnally a call or shoot her an email at mmcanally@nchs18.org.

Attending a 4-Year University Next Year?

If so, you need to accept the portions of your financial aid package you wish to receive and pay your deposit no later than April 30. After May 1, colleges may give your seat to another student from their waiting list if you have not paid the deposit. I received a Financial Aid Award Letter from the schools where I applied. Now what? During the months of March and April, colleges send out financial aid award letters. These letters will tell you how much each school plans to give you in financial aid. Accept the grants and scholarships first. These awards are free money and do not have to be paid back. Accept subsidized loans next. These are loans in the student’s name and are the lowest fixed rate of all student loans. Accept unsubsidized loans and parents loans last if you still need them. Both subsidized and unsubsidized loans can be deferred until the student ceases to attend school full-time or graduates. The subsidized does not accumulate interest while the student is in school. Therefore, if the loan amount is $5,000, it’s still $5,000 when you begin to repay the loan. An unsubsidized loan collects interest while the student is in school. Therefore, a $5000 unsubsidized loan will be more than $5,000 when repayment begins. Parent loans are offered for 8% fixed interest to the parent. Repayment typically begins 60 days after the loan is disbursed to the university. To accept the awards offered, sign the award letter and return to the university. Draw a line through any awards you do not wish to accept. If the university asks you to accept or decline awards online, follow the directions provided on the screen to only accept the awards you wish to receive.