Financial Aid & Scholarships

Students and families commonly pursue financial aid to help offset the rising costs of higher education. Families should apply for financial aid even if they consider their need for it questionable. Financial aid involves an annual renewal process subsequent to the first year of a student's award.

The Three A's model (approach, apply, and accept/advise) may guide the pursuit of financial aid.

Approach

A variety of public and private organizations act as higher education funding sources - each with specific requirements and application processes. Typical sources of financial aid are broadly categorized into Federal/State, Institutional, and Private aid. Students and families are advised to thoroughly investigate all student aid opportunities during the junior year, prior to initiating the college application process.

Federal/State
Students must complete the Free Application for Federal Student Aid (FAFSA) to be eligible for Federal and State funding.

Many colleges and universities also require additional forms that give a comprehensive assessment of students' and families' financial portfolios, such as the CSS PROFILE. Federal financial aid programs include Federal Work Study, Stafford Loan Programs, Perkins Loan Programs, and Pell Grants.

Paper versions of the FAFSA and CSS PROFILE forms are available in the College Counseling Office.

Students who wish to be considered for Cal Grant programs at California state-supported schools must also file the Cal Grant GPA Verification Form.

Students and families are advised to submit materials electronically whenever possible. Please note that oftentimes these processes require preregistration and Personal Identification Number (PIN) information prior to completing the necessary forms.

Institutional
Institutional financial aid is directly awarded from a college or university to close the gap between a family's estimated family contribution and institutional cost of attendance.

Institutional aid may take the forms of school grants, merit-based scholarships, or talent awards.

Application procedures and eligibility requirements vary widely and most institutions require students to complete either the FAFSA or CSS PROFILE.

Private
Family employers, labor and corporate organizations, and religious and civic groups often provide financial aid to college students.

The application process for private funding varies widely and often involves very specific eligibility requirements. Viewpoint School makes information regarding private aid opportunities available for students.

In all cases, research and procurement of private scholarship application materials is the student's responsibility.

Infrequently, private funding opportunities require a school nomination; in this event, Pusch Ridge staff will notify students of their nomination and provide appropriate application materials.
       
Apply

Financial aid applications, especially the FAFSA and CSS PROFILE, are lengthy and detailed. Practice with synthesis of student and family financial information for accurate completion of forms is highly recommended. Paper copies of old FAFSA forms are available in the College Counseling Office for practice purposes.

Students and families must gather documents that provide income and asset information to complete financial aid applications. Often, W-2 forms and other income tax materials are required. Refer to individual application instructions for specific lists of necessary documents and information.

To complete the applications, read all instructions carefully. Most mistakes are made by misreading or misinterpreting directions. If questions arise about how to complete certain sections of varied financial aid forms, students and families should contact the financial aid administrators listed on the forms. Additional information may frequently be obtained by calling the financial aid offices at the colleges and universities to which students are applying.

Photocopy all financial aid applications and accompanying documents for personal records. Applications should be submitted at least 10 business days before stated deadlines because of lengthy processing times. Students who do not meet stated deadlines are often disadvantaged in the financial aid awarding process. Delivery confirmation is recommended for financial aid applications mailed by the U.S. Postal Service. Online application pages or receipts should be printed for personal records.

Administrators of financial aid programs regularly request additional financial information from students and families. For example, students receive a Student Aid Report (SAR) four to six weeks after completing the FAFSA that summarizes FAFSA data and indicates the Expected Family Contribution (EFC). Students and families should ensure the SAR is correct, make changes where appropriate, and return the revised form. Colleges receive changes electronically. Students and families must submit federal tax returns and other requested information to confirm data provided on the FAFSA when requested by financial aid offices at colleges and universities. Prompt submission of verification materials prevents delays in processing financial aid applications.

Financial aid application forms may inadequately capture students' and families' financial situations. Students and families should notify financial aid offices at colleges and universities of unusual circumstances such as medical expenses, unemployment, and significant fluctuations in annual income that may affect their ability to contribute to the costs of college.
       
Accept/Advise

Different colleges and universities may submit similar financial aid packages. Students who receive awards from multiple institutions and organizations should review amounts, terms, and conditions to determine the optimal funding package for their financial circumstances. Questions may be directed to the financial aid officers at the individual institutions.

Determine the amount of any gap between the cost of attendance and the financial aid offered by the college or university of choice. If a gap exists, students and families should research additional payment options including institutional payment plans, Parent Loans for Undergraduate Students (PLUS), or private educational loans.

Students should promptly return a signed copy of the award letter to the institution at which they will matriculate, as well as inform all other institutions of their decision not to enroll. Colleges and universities may also require notification regarding any financial aid from external sources.


Financial Resources

FAFSA
The Free Application for Federal Student Aid (FAFSA) is used to apply for all government financial aid programs. The United States Department of Education analyzes financial data provided by students and families on the FAFSA through a process known as the Federal Methodology to determine an Expected Family Contribution (EFC). The EFC is the amount of money that the government believes a student and/or family can contribute toward higher education expenses. Once calculated, the EFC and accompanying data is forwarded to institutions that students list on their FAFSA. Colleges and universities rely on the FAFSA to award institutional financial aid.

The FAFSA allows students and families to submit financial information to a maximum of six colleges at a time. Students and families wishing to submit FAFSA information to more than six institutions will have the opportunity to add additional institutions after receipt of the Student Aid Report (SAR). Once the SAR is received and reviewed to be correct, students and families can substitute the original six institutions with additional institutions, as the first six will have received electronic copies of FAFSA data. Paper copies of the FAFSA are available in the College Counseling Office in mid-December and cannot be submitted until after January 1. Students and families are strongly advised to submit their FAFSA no later than February 1 even if estimated tax figures are used. Detailed, step-by-step instructions and advice regarding how to best complete the FAFSA are available at the Department of Education Web site.

CSS PROFILE
The College Scholarship Service (CSS) is a member of the financial aid division of the College Board. Colleges, universities, and scholarship programs use the CSS PROFILE to award nonfederal student aid funds. The PROFILE application consists of three parts: (1) registration for a customized PROFILE application; (2) completion of the PROFILE application; and (3) submission of the PROFILE application. Unlike the FAFSA, the PROFILE is a fee-for-service application. Currently, students are charged a $5 application fee and $18 for each school that is issued a report. Both fees cover the cost of processing and reporting student and family financial information. A limited number of fee waivers are available for students or families that qualify. The PROFILE may be completed online as an alternative to the paper version. However, the online PROFILE requires a secure browser and valid credit card.

Scholarships and the Internet
The volume and immediacy of information available on the Internet can make it a powerful tool in the scholarship search process. For-profit Web pages advertising scholarship opportunities are becoming more common. Many Internet scholarship search companies are run by people with limited knowledge about financial aid and scholarships. Although some Web sites may prove useful, use caution when utilizing them.

Caution

  • Beware of Web sites that claim or resemble ties to the state or federal government.
  • Does the search service provide a list of previous customers I can contact for verification?
  • Is the search service asking for money? If so, it is likely a scam. Do not continue to use it! Information regarding reliable and verified scholarships is always free and accessible in libraries, college counseling offices, bookstores, colleges, and elsewhere on the Internet.
  • Is there a believable guarantee? Read the fine print. Often search engines locate scholarships you may be eligible for, but for which you must still initiate the application process.


The U.S. Department of Education reminds families that information and advice on federal student aid is free. It is not necessary to pay for services. Contact the Federal Student Aid Information Center at 800-4-FED-AID for further information and advice.

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