Financial Aid Tips and Resources
Federal and State Resources 2023-24
Virtual Financial Aid/Paying for College Presentation for Parents of Seniors hosted by Oakland University
Monday, Oct. 2nd, 6:30-8pm
This is an online event.
RCS high school counselors welcome Financial Aid Outreach Advisors from Oakland University's Student Financial Services. Please join OU for a virtual presentation on the different types of financial aid, the financial aid application process (FAFSA) and scholarships.
After registering, you will receive a confirmation email containing information about joining the meeting.
Requested format: virtual
Participant Registration link: https://oakland-edu.zoom.us/meeting/register/tJModOqvqT0jGt1oBfKVabTQdWWkrleot38c
When: Monday Oct 2, 2023 ⋅ 6:30pm – 8pm (Eastern Time - New York):
View a previous year recorded Financing Education Beyond High School presentation
Virtual College Financial Aid Night provided by Michigan Department of Treasury’s MI Student Aid Team
Participants will be able to gather information on the following financial aid topics:
- FAFSA application information
- Federal financial aid programs
- State financial aid programs
- Scholarship searching resources
All sessions are free of charge and open to the public. Please register for the date that works best for you at this link.
FEDERAL AID INFORMATION
- You don't have to pay for assistance to find assistance! Please checkout http://www.studentaid.gov for more information on financial aid and assistance.
- Federal Student Aid is money that helps a student pay for their education.
- Families may file a FAFSA starting October 1 of the student's senior year. FAFSA application is located at http://www.fafsa.gov
- Types of Aid
- Grants: money you don't have to pay back
- Loans: money loaned must be repaid with interest
- Work-study: money earned by student through a job on campus while attending the school
- For details about federal aid program, including maximum annual amounts and loan interest visit http://www.studentaid.gov/types
- Questions or need assistance 1-800-4-FED-AID
and an overview of college costs at http://www.collegecost.ed.gov
6. FAFSA TIPS:
- Both parents and students should create an FSA ID and make sure to save this in a safe but accessible place for later use. https://fsaid.ed.gov/npas/index.htm
- Use 'SAVE KEY' to access application to update in more than one time frame within the same file year.
- Gather the documents needed to apply https://studentaid.ed.gov/sa/fafsa/filling-out
Creating a FSA ID
Completing a FAFSA ( Free Application For Federal Student Aid)
Finding Money In Michigan
Michigan Financial Aid Programs at a glance. See full details at http://www.michigan.gov/ssg
- Tuition Incentive Program: TIP-largest state program. Student must have received Medicaid coverage for 24 months within a 36-month period between the ages of 9 and high school graduation. TIP video. TIP sheet Toll free number for questions. 1-888-447-2687
- Michigan Competitive Scholarship: must have at least a 1200 on the SAT, submit FAFSA and demonstrates financial need at a Michigan college and list the the college your plan to attend on the FAFSA first on the application.
- Michigan Tuition Grant: based on first college listed.
- Fostering Future Scholarship: eligible foster youth in foster care after the 13th birthday.
- Child of Veteran's: child of Michigan veteran who it totally and permanently disabled, decreased, or missing in action.
- Police Officer and Fire Fighter's Survivor: child of Michigan police officer's and firefighter's killed in line of duty.
- Michigan Nursing Scholarship: non-need award available to Michigan residents enrolled at least half time at an eligible institution in a program leading to a LPN, ADN, BSN, MSN.
New Michigan Achievement Scholarship. See details below!
Governor Gretchen Whitmer announced that the high school graduating Class of 2023 can apply for the Michigan Achievement Scholarship and lower their cost of college by thousands of dollars a year. Students should talk to their parents or guardians, gather documents, and fill out their Free Application for Federal Student Aid (FAFSA) as soon as possible in order to take advantage of this scholarship opportunity. Read the full release.
Starting with the high school Class of 2023, students will be eligible for more financial aid from the State:
- Up to $2,750 if they attend a community college, per year
- Up to $5,500 if they attend a public university, per year
- Up to $4,000 if they attend a private college or university, per year
Students will be eligible if their family demonstrates financial need* when they complete the Free Application for Federal Student Aid (FAFSA).
*Financial need is defined as an Expected Family Contribution (EFC) of $25,000 or less.
High school seniors can get started by following these steps:
Visit Michigan.gov/MIStudentAid for program information, frequently asked questions and more.
50% of scholarships are available to students already in college. So scholarship searches and exploration does NOT end after senior year.
1. Explore Scholarships through the colleges and universities you are considering.
Join their mailing list, check their financial aid and scholarship webpages, ask about scholarships on your campus visit, talk to the admission reps and financial aid officers etc. Also explore potential scholarship opportunities that may exist at organizations and companies you are already alliated with. (parents work company, a camp you attended, church, student's employer, community organize where you volunteer etc.)
2. Use a FREE search engine. Some scholarship search engines will ask for information to help filter scholarships that may be specific to you. There are so many scholarships available, it takes time to research and sort through. Please, it is advised to NEVER pay for a scholarship search engine.
3. Consider applying to the Rochester Schools Foundation Scholarship.
(For RCS students only) https://rcs-foundation.org/scholarships/