Affording College

This year, the Free Application for Federal Student Aid (FAFSA) and Texas Application for State Financial Aid (TASFA) have been delayed from October 1.

The FAFSA will open by December 1, 2024 and the online TASFA is scheduled to open December 2, 2024. With the applications opening later this year, YES Prep is committed to helping 100% of the Senior Class complete applications for financial aid.Last year, with the role out of the new FAFSA only 53% of Houston Area Graduates in the Class of 2024 completed the FAFSA by the time the Graduated High School, while YES Prep helped over 95% of our graduates complete the FAFSA or TASFALast year, with the role out of the new FAFSA only 53% of Houston Area Graduates in the Class of 2024 completed the FAFSA by the time the Graduated High School, while YES Prep helped over 95% of our graduates complete the FAFSA or TASFA.

YES Prep is committed to helping our students and their families are able to afford further education after YES Prep. Each December all YES Prep Seniors will have dedicated time in their Senior Seminar to complete the FAFSA or TASFA. On December 3 when students return from Fall Break, students will be able to begin submitting their FAFSA and TASFA applications that day!

Our schools will also be hosting family nights for parents completing their portions. Reach out to your Schools College Counselor for information on when your Family Night will be.

YES Prep supports students in completing financial aid and scholarship applications and navigate the complexity of the five sources of funding for college, universities, and other education programs:

College Funding Soucres

State and Federal Grants & Aid

State and Federal Grants & Aid: Government funding to help make college more affordable. Examples of these include the:

Pell Grant: A Federal Grant awarded based on the FAFSA application that does not have to be repaid. Learn more here
Texas Tuition Equalization Grant Program (TEG) : A grant to provide aid to students with financial need who are attending nonprofit private colleges and universities in Texas to equalize cost with attending Texas Public Colleges.

Institutional Aid

Institutional Aid: Scholarships and Grants awarded by the colleges or universities to assist in attendance, awarded either as:

Need-Based: Awarded based on demonstrated need through the FAFSA, TASFA, or CSS Profile.
Merit Based: Based on an application for the institutional scholarship or a student's application to attend the college or university. This is awarded based on a student's GPA, Test Scores, or other merit-based factors like volunteer hours.

Private Scholarships

Loans

Loans:Loans, unlike other types of financial aid have to be repaid with interest. Loans can be awarded through Need-Based Federal programs through the FAFSA, as well as private loans.

Federal Need-Based Loans: The Federal Perkins Loans and Direct Subsidized Loans are interest-free while in college.
Non-Need Based Loans: Unsubsidized Loans for students that charge interest or Parent PLUS Loans allow parents to borrow money to support college after receiving financial aid.
Private Loans: Awarded by banks or other financial institutions that are not tied to financial aid applications but discouraged as they are not subsidized, not need-based, and have higher interest rates.

Personal & Family Contributions

Personal Savings and Family Contributions: Based on your family income, savings, and assetsyour Student Aid Index will be calculated. This will determine what costs, if any, will be charged directly to students and their families. This contribution is based on your aid application and maybe $0. Families can begin saving for college using programs like the Texas College Savings Plan: https://www.texascollegesavings.com/

How Do You Receive Federal, State, and Institutional Aid?

To be eligible for State or Federal Aid and Need-Based Loans, you must complete the Free Application for Federal Student Aid (FAFSA) or Texas Application for State Financial Aid (TASFA).

Additionally, colleges will require you to complete the FAFSA or TASFA to receive most institutional aid. Some colleges will also ask you to complete the CSS Profile.

Completing these free applications is vital to ensure that postsecondary education is financially accessible in our community. In addition, since 2021, the State of Texas requires all seniors to submit either the FAFSA or the TASFA to graduate.

Look below to determine which application(s) you may need to complete:

Which Application Do I Need to Complete?

FASFA

FAFSA

The Federal Application for Federal Student Aid (FAFSA) is an annual free application issued by the Department of Education that is used by most U.S. colleges and universities to help determine a student’s eligibility for grants, loans, and scholarships.

To be eligible to submit the FAFSA, students must:

Be a U.S. citizen or an eligible noncitizen;
Have a valid Social Security number (unless you are from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau)
Be applying to, accepted for enrollment, enrolled in as a regular student in an eligible degree or certificate program;

If this sounds like you, you should apply for the FAFSA. More information about the FAFSA can be found here.

TASFA

TASFA

The Texas Application for State Financial Aid is an annual application that provides foreign students or non-US citizens residing in Texas an opportunity to be assessed for in-state tuition eligibility and need-based grants and loans.

The TASFA application is a state-based application used for participating Texas schools only.

To be eligble for TASFA you must:

You have resided in Texas for 12 months prior to the enrollment in a higher education institution; AND
You have or will graduate from a Texas High School or obtain a GED in Texas; AND
You have lived in Texas for 36 months prior to high school graduation.

Students should not submit both the TASFA and FAFSA. They should only complete one. If you are uncertain if you should complete the TASFA or FAFSA, you can use this form

More information about the TASFA may be found here

CSS Profile

CSS Profile

In addition to the FAFSA, some colleges and universities also require students to complete the CSS Profile. The CSS Profile allows institutions to assess students for eligibility for institutional or school-based aid.

The CCSS profile is free for domestic students whose family income is less than $100,000, and it is $25 for the first application for all other students.

More Information about the CSS Profile, including learning if you need to apply, can be found here.

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