Overview 1.College Portal 2.Registration & Orientation 3.Placement Testing 4.FAFSA Verification 5.Financial Aid Award Letter 6.Loan Types and Payment Options 7.Review curriculum from conference and dif b/w HS and college sheet
College Culture Shock/Transition video http://www.firstinthefamily.org/collegeyears/soundsl ides/AcademicCultureShock/index.html http://www.firstinthefamily.org/collegeyears/soundsl ides/AcademicCultureShock/index.html
Acceptance Letters If you have not yet received an acceptance or rejection letter, call the college or university to make sure you submitted all the required application materials (e.g. transcripts, ACT test scores, letters of recommendation, etc.)
Web Portal The web portal will contain information such as your financial aid award package, important forms you need to complete, your student records, how to sign-up for classes, and your tuition bill, etc. Check your college email and web portal regularly! Visit your schools website and try to find their web portal. It is most likely located under Current Students. Sometimes its called something else like UCD Access, Metro Connect, or CCD Connect, etc. Your acceptance letter should contain important information regarding your student ID and/or how to sign-in to your student web portal.
Financial Aid Awards http://www.youtube.com/watch?v=gE- qYhQEfqA&feature=relmfu http://www.youtube.com/watch?v=gE- qYhQEfqA&feature=relmfu
Student Aid Report (SAR) To view your Student Aid Report, use your PIN to login at FAFSA.gov o Otherwise, you will receive instructions via email or postal mail Check your EFC (Expected Family Contribution) o Note: If your application is incomplete, your SAR will not include an EFC, but will tell you what you need to do to resolve the issue The schools listed on your FAFSA will have access to your SAR and use this information to determine your eligibility for Financial Aid. Make sure the FAFSA data on your SAR is correct and complete. If you find a mistake, correct or update your FAFSA.
College Award Letter(s) Please refer to your handouts $23,300 $5,000 $17,900 $2,300 $4,000 $2,500 $8,800 $2,400 $2,000 $4,200 $6,900 $17,400 $500 + $5,000 = $5,500 $17,900 - $17,400 = $500
College Comparison Take 5 minutes to complete your College Comparison Worksheet for Top Notch University Compare and contrast – Which college seems to offer the best package? (Remember: Gift Aid does not have to be paid back) $23,300 $5,000 $17,900 $8,800 $6,900 $17,400 $500 $5,500 $37,100 $5,000 $32,100 $27,300 $4,800 $32,100 $0 $5,000
FAFSA Verification Process What is FAFSA Verification? o FAFSA verification is a process students need to complete to verify the accuracy of information submitted on their FAFSA. Who is flagged for verification? o About 1/3 of FAFSA applicants are flagged for FAFSA verification. o You may be selected randomly or due to incomplete, estimated, or inconsistent information reported on your FAFSA. How will I know if Im selected for verification? o On your Student Aid Report, an asterisk (*) will appear after your EFC number, along with instructions on what to do next. o In the financial aid portion on your college student portal, there should be information regarding steps you need to take for FAFSA verification. What will I need to do? o Contact your colleges Financial Aid Office for directions. You will be asked to submit some forms and Federal tax documents (e.g. IRS tax transcript, W-2s). How long will it take? o The verification process can take up to 30 days so begin the process right away.
Placement Tests Students who have an ACT or SAT sub score at or above the following are exempt from placement testing: Students who have lower ACT or SAT sub scores must take an Accuplacer Placement Test. The Accuplacer test is used to determine if students are eligible for college-level, credit granting courses vs. remedial courses. ACTSAT Reading17430 English18440 Math19460
Following up and enrolling - http://www.youtube.com/watch?v=k99tgfqzfuw&f eature=relmfu http://www.youtube.com/watch?v=k99tgfqzfuw&f eature=relmfu Financial aid awards - http://www.youtube.com/watch?v=gE- qYhQEfqA&feature=relmfu http://www.youtube.com/watch?v=gE- qYhQEfqA&feature=relmfu
CLEP Test http://clep.collegeboard.org/started Example:
Budgeting Tips for High Debt Students Review your spending to identify ways to save money and avoid defaulting on your loans Start with a descriptive budget, where you track and categorize all spending for a month o Distinguish mandatory spending (need) from discretionary spending (want) and compare total mandatory spending with total income o Identify spending on food, clothing, shelter, health, transportation, taxes, student loans, entertainment o Eliminate discretionary spending and substitute lower cost options (e.g., live with parents to save on rent, cut gym membership, sell extra belongings on eBay)
Talk to the Lender Before You Default You lose options if you default on your loans o Defaulted borrowers are ineligible for deferments and forbearances There are many options that may help prevent you from getting into default Ignoring the problem will not make it go away; it just digs you into a deeper hole as interest continues to accrue
Penalties for Defaulting on Your Loans Garnishment of up to 15% of wages and Social Security benefits Income tax refunds may be intercepted (offset) Collection charges of up to 25% deducted from each payment, slowing repayment trajectory Cant renew professional licenses The default will prevent you from getting credit cards, auto loans and mortgages and may make it harder to rent an apartment or get a job You will be ineligible for more federal student aid