Financial Aid Information
If, after estimating the cost of your education, you determine that you need financial assistance, there are many important things to consider. Accredited schools offer federal, state, and institutional or private student assistance, usually coordinated through a financial aid office.
Financial aid may be need-based or non-need based. Students’ and parents’ income and assets primarily determine need-based financial aid. Other factors considered are family size, the number of family members in college and the age of the oldest parent. Non-need based financial aid is not contingent upon financial status; it is based on criteria such as grades, musical or athletic ability, and other talents.
To obtain financial assistance, contact the financial aid office at the school you are planning to attend. In order to apply for Federal Student Aid, you will need to complete a Free Application for Federal Student Aid (FAFSA). Mrs. Waide will have copies of these in her office. Submit an accurate application early to receive maximum consideration. A brief description of the major types of financial aid follows:
· Scholarships/Fellowships: Vary in amount and are awarded on the basis of achievement, talent, and personal qualities. Scholarships are gifts and do not have to be repaid. An application is usually required, and some schools may ask for references.
· Grants: Vary in amount and are awarded to students based on financial need and ability to maintain satisfactory progress in a course of study. Grants are gifts and do not have to be repaid. An application is required.
· Jobs/Work-Study: One of the best ways to help pay a significant part of you expenses. Schools may offer employment on the campus through various work programs, or they may have a placement service to help you find a job in the community. Working while going to school may give you a new working experience or skill, along with providing you with resources to meet educational costs. An application for student employment is required.
· Loans: Long-term and short-term loans can be made in varying amounts. Long-term loans are generally interest free while you are in school, with no payments required until you have graduated or are no longer enrolled in school. If you need a loan to help pay school expenses, borrow only the amount necessary and remember that payments will be required when your studies are completed. Interest rates differ from one loan program to another, so be sure that you understand the terms and conditions of the loan. An application for loans is required. A new loan program that has been recently established is the "Opportunity Loan" which is a nonprofit organization based in Canyon. More information is available in the counselor's office if you are interested.
Parents of seniors need to get their 2006 Income tax figured as quickly as possible if you are applying for financial aid grants. College financial aid deadlines are from mid-March on through the summer. The earlier you get your financial application in, the better for you. You cannot be granted financial aid unless the college has accepted you. If you wait until the last minute to apply (during late spring or summer), there may not be much money left and you may be left out in the cold without financial assistance.
Financial Aid Information Available in your Counselor's Office:
· Free Application for Federal Student Aid
· College Costs & Financial Aid Handbook
· Financial Aid for Texas Students
· Financial Aid Information Guide
· The Scholarship Book
· Compendium of Texas Colleges & Financial Aid Calendar
Free Application for Federal Student Aid, (FAFSA)
A financial aid representative will be scheduled to give a seminar at Perryton High School on applying for financial aid. This seminar is for students and their parents. The representative will have financial aid, (FAFSA), forms available and will be able to work with you step by step through the application process. This seminar will be announced on the school announcements and in the newspaper after it has been scheduled.
Students can also gain
valuable help and information on completing financial aid forms on the web site:
Federal Student Aid. This web site provides comprehensive, up-to-date information on many financial
programs. A student may also check the processing status of his/her application
by calling the Automated Information System at 1-800-FEDAID, (1-800-433-3243).
Financial Aid for Families with Dependent Children (AFDC) and
Temporary Assistance to Families (TANF)
In 1995, the 74th Legislature passed House Bill 1479, which created a one-year tuition and fee exemption program for students who meet the criteria listed below. These applications can only be obtained from the Department of Human Services office.
· student graduates from a public high school in Texas
· student completes compulsory high school attendance requirements specified in the Education Code
· students receives financial assistance under the Human Resources Code (AFDC/TANF), for not less than six months during his/her last year in high school
· student enrolls in college within 12 months of his/her date of high school graduation
· student is admitted to the college/university based upon a Texas resident tuition status
· student completes all of the college/university entrance requirements
· proof of eligibility for AFDC/TANF is obtained from the Department of Human Services
This trust was created to give 0% interest loans to deserving graduate and undergraduate students who meet the following criteria. For information about the Trust, contact Ed Robinson at (410) 897-9600.
· student would qualify for financial aid from government grants
· student scored in the top 10% nationally on the standardized test required for entrance into a particular college or for a particular discipline the student has selected for graduate or undergraduate education
· student must attend a school in the state for which he/she has legal residency
· student will not be seeking a law degree
Please Note: Although the counselor’s office has done everything possible to insure that scholarships and areas of financial aid represented in this guide are legitimate; sometimes one can slip by. When searching for scholarships and financial aid, beware of companies that charge fees or guarantee scholarships. An offer that guarantees scholarships or asks for money to “hold” the scholarship may be a scam. You can log on to the Federal Trade Commission’s Web site for more information on scholarship scams.
· Free Application for Federal Student Aid, (FAFSA), form deadline is March 1, 2007. This is for all Financial Aid (Pell Grants, Student Loans, etc.).
· The deadline for local scholarships is April 1, 2007.
· Amarillo Area Foundation Scholarships must be received in the foundation office no later than February 1, 2007.