• If you are applying for a Basic Grant ONLY, do not fill out the FAF Supplement. • If you are applying for financial aid from colleges, programs, or a state agency, fill out the FAF Supplement if any one of them requires it. Financial Aid Form-Supplement School Year 1980-81 Student's Information A1. Student's name Last A2. Student's social security number A4. During 1980-81, where does the student plan to live? with parents off campus on campus First undecided A14. Give information for all children and other dependents who are included in parent's household in 17. Include parent if he or she will attend school in 1980-81. In 1980-81, over $12 billion in financial aid will be available to help students meet the costs of education or training after high school. This money helps millions of students continue their education. It can help you too. You don't have to be poor to qualify, but you do have to prove you need it. You'd probably be surprised to learn just how many students are eligible for some amount of financial aid, especially at high-cost colleges. In this booklet you'll find out about the different types of financial aid, and by following the steps outlined here, you can discover whether you are eligible for such aid. TYPES OF FINANCIAL AID Financial aid comes in three forms: SOURCES OF Financial aid can come from several different sources: the federal government, state government, colleges themselves, and a wide variety of private organiza tions and scholarship programs. Some of the major programs are described on page 6. PUTTING IT ALL TOGETHER Most students get a combination of "gift aid" and "self-help aid" (loans and work-study) from different sources. This is called a financial aid "package." The financial aid administrator at the college you attend or apply to will put together your package, but you have to take the first step by applying for aid. Remember, applying for admission is not enough. You must also apply for aid to be considered. See pages 7-8 for tips on applying, and give yourself the best chance by planning ahead. DON'T JUST Some students don't apply for aid, thinking they won't qualify because their family income is too high. But eligibility for financial aid is not based on family income alonel Postsecondary institutions, states, and other organizations award financial aid on the basis of demonstrated need. They believe that students and parents have a responsibility to pay as much as they can toward education costs. "Demonstrated need" is the difference between what it costs to attend a particular college and how much the family can reasonably be expected to contribute toward those expenses. Here's how it works: Total College Expenses -Family Contribution (what the family can pay) Demonstrated Need Students are usually eligible for financial aid equal to the amount of their demonstrated financial need. Since the amount a family can afford to pay stays the same whether the costs are high or low, you can see that you might be eligible for different amounts of aid at different institutions. In fact, if you are able to get all the financial aid you're eligible for, you could end up paying the same amount at a high-cost institution as you would at a lower cost one. That's why you shouldn't rule out any college that interests you on the basis of its costs alone. HOW TO USE You can make a rough estimate of your eligibility for financial aid by following the three steps described in this booklet: 1. Estimate your expenses at the colleges you are considering (page 3). 2. Estimate the amount your family will be expected to contribute (pages 4-5). 3. Subtract the estimated family contribution from the estimated total expenses at each college to determine your financial need (page 6). Then review the tips for applying on pages 7-8. And you're on your way! Copyright 1979 by College Entrance Examination Board. All rights reserved. Printed in the United States of America. |