1. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Financial Aid 101 Funding a College Education

2. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Contact Info Rita.keeton@TN.gov 615.478.5584

3. Financial Aid Terms COA – cost of attendance; varies by institution EFC – expected family contribution; number derived from the FAFSA and used to determine need based aid eligibility FAFSA – Free Application for Federal Student Aid FSA ID – federal student aid identification number; used to complete and sign the FAFSA SAR – student aid report; summary of FAFSA information Grant – free money based on need Loan – money borrowed that must be paid back with interest Scholarship – free money awarded on the basis of merit, skill, or unique characteristic Verification – random “audit” of FAFSA Work study – money received from on campus employment

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5. Cost of Attendance 2-yr Public 4-yr Public TN Private; Out of State Tuition/Fees$3,703$11,246$43,838 Room/Board$4,180$10,296$14,382 Books/Supplies$1,200$1,582$1,370 Transportation$3,024$1,664VARIES Miscellaneous$400$4,002$2,730 COA$12,507$28,790$62,320

6. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Financial Aid Sources Federal (Pell Grant) State (HOPE) Institutional (College) Private (Local)

7. The FAFSA (Free Application for Federal Student Aid) is a federal form used to determine student eligibility for the following: Federal programs, such as Pell Grants, work-study, and student loans. State programs, such as Tennessee Education Lottery Scholarships, and other special programs such as need-based grants and scholarships. Free Application for Federal Student Aid

8. U.S. citizen or permanent resident High school graduate/GED holder Eligible degree/certificate program Valid Social Security number Males registered for Selective Service Satisfactory academic progress in college/career school Who can get it?

9. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA 2012-13 FAFSA on the Web – Available now – www.fafsa.gov (VERY IMPORTANT!) – PRIORITY DEADLINE IS AS SOON AS POSSIBLE AFTER JANUARY 1, 2012!

10. How much federal student aid can I get? In general, depends on your financial need. Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA) EFC comes from what you report on FAFSA ® (Free Application for Federal Student Aid) COA is tuition, fees, room and board, transportation, etc. COA – EFC = financial need

11. Federal Pell Grant: $5,775 Federal Work-Study: depends on funds available at school Direct Subsidized and Unsubsidized Loans: $5,500 total Direct PLUS Loan (for parents): COA minus other aid received Maximum amounts for the major programs for a dependent freshman in 2016-17

12. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA 2016-17 FAFSA on the Web – Available January 1, 2016 – www.fafsa.gov (VERY IMPORTANT!) – Student and parent are encouraged to create FSA IDs (fsaid.ed.gov) prior to January 1 – To initially submit FAFSA in January, use estimated tax information (i.e. 2014 tax return, 2015 W-2 information, or last paystub)

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14. State Aid (2-yr) HOPE Scholarship $1,500 per semester 21 ACT or 980 SAT or 3.0 GPA* GAMS $500 per semester 29 ACT or 1280 SAT & 3.75 GPA* Aspire Award $250 per semester Parents AGI <=$36,000 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

15. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION State Aid (4-yr) HOPE Scholarship $1,750/sem then $2,250/sem 21 ACT or 980 SAT or 3.0 GPA* GAMS $500 per semester 29 ACT or 1280 SAT & 3.75 GPA* Aspire Award $750 per semester Parents AGI <=$36,000 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

16. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION HOPE Renewal 2.75 cumulative GPA 24 attempted hour benchmark 2.75 cumulative GPA 48 attempted hour benchmark 3.0 cumulative GPA or 2.75 – 2.99 cumulative GPA & 3.0 semester GPA 72 attempted hour benchmark 3.0 cumulative GPA or 2.75 – 2.99 cumulative GPA & 3.0 semester GPA 96 attempted hour benchmark

17. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION State Aid HOPE Access $875 or $1,250 per semester 18 ACT & 2.75 GPA* & Parent AGI <=$36,000 Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT TSAA $1,000 – $4,000 per academic year 0 EFC March 1 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

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19. High school seniors in Tennessee may apply for the Tennessee Promise scholarship Two years of tuition-free attendance at a community or technical college in Tennessee Last-dollar scholarship, meaning it will cover costs of tuition and mandatory fees not met from Pell, HOPE, or state assistance awards. Students will be paired with a partnering organization and provided with a mentor who will support them during the college application process.

20. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION TN Promise Checklist  Apply to the Tennessee Promise program at www.TNPromise.gov by November 2, 2015  Complete 2016-17 FAFSA at www.FAFSA.gov by February 15, 2016  Attend two mandatory meeting in the spring as coordinated by your partnering organization  Complete 8 hours of community service between November 3, 2015 – August 1, 2016  Students selected for FAFSA verification must submit material to the college by July 15, 2016

21. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION TN Promise ExamplesABC Tuition$4,000 Pell/TELS/TSAA -$8,000-$3,000$0 Gap $0$1,000$4,000 TN Promise$0 Tuition$0 $1,000 $0 $4,000 $0

22. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION TN Promise Examples 2-yr Public 4-yr Public 4-yr Private Tuition$4,000$8,000$20,000 Eligible Tuition $4,000 HOPE/Pell/TSAA -$3,000-$3,500 TN Promise-$1,000-$500 Your cost$0$4,000$16,000

23. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Online Applications Ned McWherter Up to $6,000/ academic year February 15 29 ACT & 3.5 GPA* Dependent Children Award amount varies See brochure Dual Enrollment Grant High school juniors/seniors Contact institution *All courses calculated on a 4.0 scale per the Uniform Grading Policy

24. If you are applying to more than one college, make sure you are applying for all the scholarships that might interest you at each individual college. Merit or Need based Cultural background Athletic ability Professional interest Artistic talent Hobby Geographic location Aid that comes specifically from the school you are planning on attending. Institutional Aid

25. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Private Aid School counselor Other high school websites www.collegefortn.orgwww.fastweb.com

26. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Other Aid Academic Common MarketFee Discount Program

27. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Paying for College College ScholarshipsGrantsLoansYou

28. Read everything you receive from The Department of Education (FAFSA), TSAC, and all of your prospective Colleges Read!!!

29. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Senior Year Checklist F ALL S EMESTER  Take and retake the ACT/SAT  Apply to several colleges (admissions, institutional aid, etc) and utilize their net price calculators  Student and a parent should create FSA IDs (fsaid.ed.gov) S PRING S EMESTER  Complete 2016-17 FAFSA available January 1, 2016  Complete local/private scholarship applications  Review college acceptances, compare financial aid packages, ask questions, and follow up as needed

30. T ENNESSEE S TUDENT A SSISTANCE C ORPORATION rita.keeton@tn.gov Relax and enjoy your SENIOR YEAR!!!!!