Page 13 - BGUT CHANGING Spring 2023

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The Bronx Institute at Lehman College
Bronx GEAR UP THRIVES The Bronx Bronx Institute Bronx Bronx GEAR UP THRIVES 13
FEDERAL STUDENT AID: MAKING COLLEGE AFFORDAB
For most families the cost of a a four-year college education is too much Thankfully the federal government provides aid to families in need Each
year over 13
million americans apply for student aid and the department of education gives over $112 billion in grants and and loans to students and and their families LE The The way way to to apply apply is is by by filling filling out out the the Free Free Application Application for for The The way way to to to apply apply is is by by filling filling out out the the Free Free Application Application for for StudentAid(FAFSA) Don’tworry:youstillhaveyearsto Student Student Aid Aid (FAFSA) (FAFSA) Don’t Don’t worry: worry: you you you still still have have years years to to to to go go go go before before you you you need need to to to to to start start thinking thinking about about applying applying to to to to to before before you you need need to to to to to start start start thinking thinking about about applying applying to to to to to college college college college but but it it it it definitely definitely can’t can’t hurt hurt to to to to start start start preparing preparing now now but but it it it it definitely definitely can’t can’t hurt hurt to to to start start preparing preparing now now For For older older For For older older siblings siblings or or or or family family members members closer closer to to to college college siblings siblings or or or or family family members members closer closer to to college college age age this this age this information can be be extremely useful information can be extremely useful Please note: If you’re currently in in middle school you you Please note: If you’re currently in middle school you you do NOT need to submit the FAFSA form now You
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purpose of this section is is to to start familiarizing students grade the year before you plan to to attend college The and families with the process purpose of this section is is to start familiarizing students student student aid! aid! Visit Visit the the Federal Federal Student Student Aid Estimator apply for (and receive) student student student aid! aid! Visit Visit the the Federal Federal Student Student (https://studentaid (https://studentaid gov/aid-estimator/) gov/aid-estimator/) to to to to to see how Aid Estimator (https://studentaid (https://studentaid gov/aid-estimator/) gov/aid-estimator/) to to to to to much much you you could could qualify qualify for see how much much you you could could qualify qualify for for Once Once you’ve you’ve submitted submitted your your form form as as as as well well as as as as a a a a a a list list of of Once Once you’ve you’ve submitted submitted your your form form as as as as well well as as as as a a a a a a a a list list of of of colleges colleges colleges colleges to which you’re applying The Department of of to to which you’re applying The Department of Education Education will will Education Education will will send your FAFSA info to to these schools
sfoerndyoyuo ur FAFSA info to these schools
for you and families with the process There aarereddiffifefrernetntyptyepseosf ofifnafincaianlcaiaidl aIitdc aInt coamn ecofrmome cfrolmlegceos llecogmesp acnoiems pparnivieatse spcrhivoalatersshciphfoulnadrsh iopr fNuenwdsY oorkr
New York State State but but the the the the bulk bulk of of of it it comes comes from from the the the the U U S S S S State State but but the the the the bulk bulk of of of it it comes comes from from the the the the U U S S S S Department of of of Department of of of Education Education This This kind kind of of of money money is is is is called called Education Education This This kind kind of of of money money is is is is called called federal student aid federal student aid HOW DOES FAFSA WORK?
By visiting www studentaid gov you (or a a a family How does FAFSA work?
member member or or or or guardian) will be be be able to create an an account By visiting www studentaid gov you you (or a a a a a a a a a a a family member member or or or or Then Then you you you can can view view and complete the FAFSA form You’ll guardian) will be be able to to create an an an an an account Then Then you you can can view view be be be asked asked to to to provide provide some some basic information such as as as as and and complete the FAFSA form form You’ll be be be asked asked to to provide provide some some your your name name date date of of birth birth and and and social social security number as as as as basic information such as as as as your your name name date date of of birth birth and and social social well well as as as as as financial financial records records including including tax tax returns banking
security number as as as well well as as as financial financial records records records including including tax tax tax information and any records records of untaxed income returns banking
information and any records of untaxed income It's important to remember that student aid is for for eItv'seirmypoonreta nt tEovrenmemifberytohautr stufdaemnitlyaidiis focr oenvesirdyeorneed “Elovewn-inifcoyomuer” famanildy isiscornescideievriendg “lotwh-einr cogmoev”erannmdenist brecneeivfiitnsg oytohuerwgiollvebrenmaebnlet bteoneafpitps lyyofourw(aillnbdereabceleivteo)
Grants Grants and and Scholarships: Scholarships: This This is is is is money money that that does does not not need What kind of aid can I I I I receive?
WHAT KIND OF AID CAN I I I I I RECEIVE?
Grants Grants Grants and and Scholarships: Scholarships: This This is is is is money money that that does does not not to to to to be be paid paid back back Grants Grants Grants are are given given to to to to low-income low-income families need need need to to to to to be be paid paid back back Grants Grants are are given given to to to to to low-income low-income and and usually usually you you need need need need to to to to demonstrate demonstrate financial financial need need need need families and and usually usually you you need need need to to demonstrate demonstrate demonstrate financial financial Scholarships Scholarships are are for for students students who who demonstrate demonstrate demonstrate academic need need Scholarships Scholarships are are for for students students who who demonstrate demonstrate skill skill and and you’ll you’ll need need need to to to maintain maintain good good grades grades in in in in in order to to to academic skill skill and and you’ll you’ll need need to to to maintain maintain good good grades grades keep keep receiving it in in in order to keep keep receiving receiving it it Loans: Loans: This This is is is is money money that that must must be be paid paid back back usually usually with Loans: Loans: This This is is is is money money that that must must be be paid paid back back usually usually iwntitehreisnt eAreltshto uAglhthyougwhilyl olikuewlyihll alivkeltyo hreapvaeytao lroeapnayoaurlsoealnf tyhoeuyrsaerelf sthillegyreaaret wstailyl sgrteoaptawyafoysr ctollpeagye fosrincoellyeogue hsaivnecea vyeoruy hloanvgetaimvetroy ploanygbtaimckethtoe pmaoynbeya ck ck the money TIPS FOR PARENTS AND FAMILIES
Continue saving for for your child’s college education Even if you you you are planning to to apply for for student aid you you you should still try to to save as as much as as possible The IRS provides tax credits for college savings plans which you can learn more about here: https://studentaid gov/resources/tax-benefits
Talk to your child about his or or her interests interests and and help match those interests interests with a a a a a a a a college major and and career Help your your child child develop good study habits such as finishing all work before going on social $ media or playing computer games Stay in contact with your child’s teachers and counselor so that they can let you you know about any changes in your child’s behavior or or or schoolwork Keep an an an eye on your child’s grades and help him or or her find tutoring assistance if necessary (Resources: U S S Department of Education Federal Student Aid)