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Junior year-to-date October Junior College Night November Juniors took PSAT November Christian College & College & Career Fair Course registration for.

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Presentation on theme: "Junior year-to-date October Junior College Night November Juniors took PSAT November Christian College & College & Career Fair Course registration for."— Presentation transcript:

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2 Junior year-to-date October Junior College Night November Juniors took PSAT November Christian College & College & Career Fair Course registration for Senior year 180+ Fall college representative visits – 180+ Junior Guidance: Tour of Counseling Center, College Knowledge, PSAT & How Colleges Select Students, MyCollegeQuickStart, You & the Internet

3 On the Horizon… April 12-National College Fair Convention Center: 5-8 p.m. Spring College Representative Visits (Check KS website)! Take SAT and/or ACT May or June of Junior Year Guidance classes continue on Healthy Relationships & Planning for Senior Year

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5 WHY is it important to learn about Financial Aid NOW?? So your ohana doesnt get fixated on the cost alone as your child begins to look into & research colleges So your ohana can have informed conversations and make informed decisions So you can help calm one another down!

6 Gift Aid Grants Scholarships Self-Help Aid Loans Federal Work Study

7 The major responsibility for paying for a childs education belongs to the parent and child. Parents ability to pay, not willingness to pay, is whats measured by needs analysis. A familys college contribution (EFC) is typically the second largest expense after their mortgage…

8 The (qualified) good news There ARE monies available for families with demonstrated financial need… Who are willing to share their financial information with the federal government and colleges… AND provide their financial information on standardized FORMS… By the DEADLINE!

9 Of course were saving for college. So far we can afford to send him for 23 days, 12 hours and 32 minutes.

10 Federal Government State Government Institution or School Private sources Civic organizations and churches Employers

11 $F ree A pplication for F ederal S tudent A id $ CSS Profile (www.collegeboard.com) A F F S A

12 Web site:

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16 Parents Income & Assets Students Income & Assets Size of Household Number in College (NOT including parents) Special Circumstances = Expected Family Contribution (EFC)

17 FAFSA on the Web Built-in edits prevent costly errors Skip-logic allows student and/or parent to skip (& never see) unnecessary questions IRS Data Retrieval More timely submission of original application and any necessary corrections More detailed instructions and help for common questions Ability to check application status on-line Simplified renewal application process Easy access to SAR (Student Aid Report) Reasons to file electronically:

18 EFC, as determined by Federal Methodology, on SAR EFC ranges from 0000-$99,999 EFC divides by number of students in college FAFSA results available to student and the college(s) YOU listed. SAR requested by some scholarship programs College reviews the results & may request additional documentation (such as a federal tax abstract). College notifies student of aid eligibility. Student & family accepts OR declines funding. Aid is disbursed to school and student.

19 1. Tuition & Fees 2. Room & Board 3. Books & Supplies 4. Transportation 5. Personal/Miscellaneous = Cost of Attendance (COA)

20 COA -EFC = Need COA: Cost of Attendance EFC: Expected Family Contribution

21 Mainland Mainland Local Private Public Public Total Cost $60,000$30,000 $20,000 - EFC15,000 15,000 15,000 = NEED 45,000 15,000 5,000 Financial Aid Package Grant 40, Loan 2,500 5,000 5,000 Work 2,500 2, Total 45,000 7,000 5,000

22 EFC Calculator Use FAFSA4caster to estimate just your Expected Family Contribution (EFC).

23 Net Price Calculator The Goal: To help you better understand and compare college costs. How: You provide information about your family's finances on college websites. You Get: An estimate of the need-based financial aid you may qualify for, AND an estimate of what your family would have to contribute toward college costs. Keep In Mind: Many calculators give you estimates only of need-based aid. Most calculators don't fully reflect a college's financial-aid policies. Calculators are not a replacement for required financial-aid application forms. A net-price calculator is only as accurate as the information you provide.

24 EARNINGS – use current money from paycheck SAVINGS – draw on savings built over time in an interest- bearing account BORROWING – low-interest, government backed PLUS loans are available for credit worthy parents. Some colleges have private loans available. Some families use a home equity line of credit. PAYMENT PLANS – many campuses offer deferred payment plans that spread the cost over several months and options to pay by credit card (and earn miles!) TAX BENEFITS – After-the-fact support comes in the form of federal tax breaks that benefit parents who pay tuition and fees. Talk to a tax expert about eligibility or visit the IRS website at

25 Used by: Kamehameha Schools Post-High Scholarship program and some private, selective colleges on the mainland Available ONLY online at Costs a nominal fee to process, but based on family financial information, you may automatically receive a fee waiver if you are eligible

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27 Most parents find they need to use a combination of sources to provide their expected family contribution A common combination is one third each from current income, savings and loans. Middle and Upper-Middle income families may find it challenging to meet the contribution set by the federal formula if they try to use earnings alone

28 FAFSA Earliest – January 1 of Senior Year Deadlines are typically January 15-March 1 CSS Profile Earliest – October of Senior Year Deadlines are typically January 1-February 1 Hooulu Data Center (Juniors K-3) If unsure double check NOW!! Note: Forms are completed yearly Awards are based on calendar year earnings previous to attendance

29 All Financial Aid Forms are completed yearly Financial Aid for the students year of college attendance is based the on previous tax year Deadlines…DEADLINES…DEAD/Lines Are of the utmost importance !! Be As Accurate As You Can and Still Meet College Deadlines, Estimate if needed!

30 Deadlines…DEADLINES…DEAD/Lines Estimate if needed to meet College & Scholarship Deadlines A Students Academic Record Can Increase Gift Aid Some colleges have more money than others Many colleges offer substantial no-need merit based scholarships Colleges treat outside scholarships (like KS) differently

31 NEED Based Financial Aid MERIT Based Financial Aid

32 Athletic Scholarship………Football, Volleyball etc. Academic Performance…..Valedictorian Award Music………………………...Band, Orchestra etc. Art/Drama…………………..Theatre, Dance etc. College Major………………Engineering Society ROTC Scholarships………Army, Navy, Air Force Community Organizations.Rotary, Lions, Elks etc. Ethnic Background………Hawaiian Civic Club etc.

33 Places of Employment Corporations Places of Worship Clubs Civic Organizations National Contests Local Contests Computer

34 Institution or School Private Sources Businesses, foundations, charitable organizations Civic Organizations Employers and Unions Churches Computer

35 Ke Alii Pauahi Foundation Hawaii Community Foundation The Internet Fastweb (www.fastweb.com) Local Newspapers Haleakala Counseling Center Colleges! Western Undergraduate Exchange (WUE)

36 Over 80 public colleges in 15 participating states Student pays in-state tuition + 50% Criteria, Application & Awarding process Varies: WUE awards may be limited by number awarded, GPA and/or major Start Searching at:

37 Huali Māmaka Kaiaos List Financial Aid Safety Schools University of Hawaii at Manoa (Public In-State School) University of Arizona (Out-of-State Public w/learning communities) Portland State Univ(Out-of-state Public w/WUE & Merit) Colleges with Merit Money Whitman College (WA) $8,000 renewable diversity Univ. of Miami (FL) $10,000 renewable academic Occidental College (CA) $15,000 renewable leadership Most Selective with NO Merit Money Stanford UniversityIf admitted, only need would be met

38 NO Merit Money Stanford University Harvard University MIT Pomona College Caltech Dartmouth Yale Princeton Wesleyan Merit Money USC Whitman College Illinois Institute of Tech Occidental College Gonzaga University Univ of San Francisco University of Miami New York University Boston University Examples of Colleges with… Examples of Colleges with…

39 Consider out-of-state options like WUE Dont overlook in-state options Have an admission & a financial aid safety school See where merit money could work for you Be prepared, loans could be offered to your child & possibly you. Have a frank discussion about borrowing

40 Face it Pua, our kids arent rocks…but they arent rocket scientists either. Theyre smart enough to get into college, but not smart enough for academic scholarships.

41 Encourage your child to finish the year strong academically Help them to spend their time wisely this summer Start a conversation with your child about their future & your expectations Have your child start an account with Fastweb.com Do the FAFSA4Caster Attend the National College Fair on April 12 th Explore Net Price Calculators

42 1. Organize, Organize, Organize ! Remember 2012 earnings will impact your Financial Aid. Keep track of forms & key contact people. 2. Hang out at Borders & read financial aid books for free. (Find one you like & buy it). 3. Research other sources of funding. Find out if your employer, club, union, church, offer scholarships. What kind of low interest educational loans are available from your bank, credit union… or even Grandpa?

43 4. Be prepared to be forthcoming with college financial aid administrators about special circumstances (natural disasters, bankruptcy, divorce, unusual medical expenses, etc.). 5. STRONGLY encourage your child to apply to a financial aid safety school (at least one college you can afford even if you receive little or no financial aid) 6. Ask yourself the tough questions : Are you willing and/or able to take out loans? Is your child? Are you willing or able to make lifestyle changes if necessary?

44 7. Dont rule a college out because of cost alone. Have a cross section of options, including schools with merit based aid. 8. Keep communication lines open with your child! Are you on the same page about their post high plans? Let them know where you stand on financing their college education. 9. Keep your options open 10. KEEP THINGS IN PERSPECTIVE!

45 Keeping it all in Perspective (From The Parent Soup Financial Aid and College Guide) Parents should contribute their love, support, insight, and when necessary, some financial parameters for the search. Students should retain the right to determine their fate to the largest degree possible.

46 After LOVE the most valuable thing you can give your child is an EDUCATION ~Alan Page (former NFL player & MN Supreme Court Justice)

47 Questions? Mrs. Kathryn Kekaulike Juniors: A-K Ph: Mr. Steve Morales Juniors: L-Z Ph:

48 Mahalo for joining us! Please Drive Safely! A Hui Hou!


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