Presentation is loading. Please wait.

Presentation is loading. Please wait.

Financial Aid & Scholarships Senior Checklist. Authorize COF.

Similar presentations

Presentation on theme: "Financial Aid & Scholarships Senior Checklist. Authorize COF."— Presentation transcript:

1 Financial Aid & Scholarships Senior Checklist

2 Authorize COF

3 3 College Opportunity Fund  Pays a portion of total in-state tuition per credit hour Colorado public institutions (2-year and 4-year) Participating private institutions (Regis, DU and Colorado Christian University)  $68 per credit hour in 09-10 school year ($1,632/year for a full time student)  145 credit hour maximum  Must apply for stipend  Must be admitted to participating institution  Available for undergraduates only  Paid directly to the school  Apply online at:

4 4

5 5

6 Sources of Student Aid

7 7  Federal loans 41%  Institutional grants 21%  Pell Grants 14%  Private and employer grants 7%  State grants 7%  Education tax credits and deductions 6%  Federal grants not Pell Grants 3%  Federal work-study 1%  Total: $106.7-billion NOTE: Numbers are for undergraduates. SOURCE: College Board, "Trends in Student Aid 2008"

8 FAFSA / Types of Financial Aid

9 9

10 10 Free Application for Federal Student Aid (FAFSA )  Available every January 1– apply early! Some Financial Aid is awarded on a first come first serve basis The earlier a student applies, the more financial aid they may receive Must file every year Will receive a Student Aid Report (SAR) via email and snail mail Name one type of financial aid.

11 11 How to Submit the FAFSA  Online application is fastest Processed in 72 hours Student and one parent need to get Personal Identification Numbers to sign application electronically Parent and Student Information required: −Social security numbers, drivers license numbers −Records of money earned last year, tax returns and bank statements, etc. Complete FAFSA online at http://www.fafsa.ed.gov 1-800-4FEDAID paper applications  BEWARE of any service that requires you to pay a fee to submit your FREE application

12 12

13 13

14 14  Grants Awarded to the student based on need Does not need to be paid back  Scholarships Does not need to be paid back Check out our CollegeInvest Scholarship Program  Work-study Typically based on need  Student Loans Federal Loans −Paid back at federally backed low interest rates with helpful terms −There are federal loans for students (Stafford loans) and parents (PLUS loans) Private Loans −Use federal first and be sure to research the rates and terms carefully if you need a private loan to fill the gap. Financial Aid – The Four Types

15 15 PELL Grant  Eligibility determined from FAFSA  2009-2010 maximum amount $4731  Pro-rated if student is less than full time  Need based grant  EFC must be under $4041 When is College Goal Sunday?

16 16 Academic Competitiveness Grant  Eligible for Pell Grant  Four or two year degree program  Full time student  $750.00 first year of undergraduate study Successfully completed a rigorous high school program (Higher Education Admission Requirements)  $1,300.00 second year of study Second year of undergraduate study have a cumulative grade point average of 3.0  No specific major required

17 17 The SMART Grant (National Science & Mathematics Access to Retain Talent)  Available during the third and fourth years of undergraduate study  Eligible for Pell Grant  Enrolled in a four-year degree granting institution  Full time student  Up to $4,000.00 per year  A cumulative 3.0 grade point average

18 18 The SMART Grant (National Science & Mathematics Access to Retain Talent)  Must major in: Physical life, environmental, nutrition, or computer science Engineering Mathematics Technology Critical Foreign Language Food Science, Technology, and Processing Fishing and Fisheries Science Management Forest Sciences and Biology Wood Science and Wood Products/Pulp and Paper Technology Wildlife and Wildlands Science and Management Biopsychology Physiological, Pyschology/Psychbiology

19 19 TEACH Grant  Up to $4000 in grant money per year for teaching students  Undergraduates can qualify for up to four years, graduates for up to two years  Must score above the 75th percentile on a college admissions test OR maintain a cumulative GPA of at least 3.25  Must be a student who intend to teach full-time in high-need subject areas for at least four years at schools that serve students from low-income families  If the student does not meet the teaching requirements, the grant must be paid back as an unsubsidized loan Colorado State University-Pueblo Metropolitan State College of Denver University of Colorado Denver University of Northern Colorado Jones International University Colorado Christian University Regis University

20 20 Work Study  Part-time hours  Campus & Community offices/agencies  Minimum wage & higher  Earnings paid directly to students  Often based on financial need  Maximum earnings limit

21 21 Perkins Loans  5% interest rate  9 month grace period  Repaid to School Attended  Must Complete FAFSA  Need Based  Must sign Promissory Note with Institution  Undergraduate annual limits $5,500, graduate annual amounts $8,000  Schools have small loan pool. May need to apply by school’s priority deadline to be considered

22 22 Federal Stafford Loans  Payment begins 6 months after graduating or decreasing enrollments to less than half time  No credit check required

23 23 Subsidized & Unsubsidized Subsidized Stafford:  Must Demonstrate “need”  Fixed interest rate of 6.8% as of July 1 st, 2008 (for undergraduates, 6.8% for graduate students)  No interest accrual during in-school period Unsubsidized Stafford:  Not based on need  Fixed interest rate of 6.8% as of July 1 st, 2008  Interest accrues while in school

24 24 Federal Stafford Loans Grade Level Base Amounts* Additional Unsubsidized Total Amount Freshman$3,500$2,000$5,500 Sophomore$4,500$2,000$6,500 Junior & Senior$5,500$2,000$7,500 Preparatory coursework for enrollment in an undergraduate program $2,6250 Preparatory coursework for enrollment in an graduate program $5,5000 Teacher Certification coursework $5,5000 Aggregates$23,000$8,000$31,000 Source: CollegeAssist, 2008

25 What About Scholarships?

26 26 What is a Scholarship? Financial Aid that is awarded to you based on your individual characteristics. Each Scholarship will have their own set of criteria, deadlines and application process It is up to you to find Scholarships and submit applications Scholarships do not have to be paid back

27 27 Components of a Scholarship Application  Scholarship Application  An Essay  Letter of Recommendation or Nomination Letter  Resume  Official Transcripts  Any additional information the scholarship committee requests Remember that every scholarship has different requirements, components and deadlines!

28 28 Before You Get Started…  Create a professional email account  Begin checking your email regularly  Get to know your SS #  Update your voicemail

29 29 Scholarship Portfolio  Recent tax return(s) for you and your parents  Your resume  Academic transcripts  Financial aid award notices  Student Aid Report (Documentation of the FAFSA application)  Your Personal Profile  Copy of scholarship checklist  Copy of all applications you have gathered  Timeline for your scholarship search  A great general scholarship essay  Copies of your recommendation and/or nomination letters

30 30 Create A Resume Important Information To Include On Your Resume  Name, phone number, email address  Employment history with dates and accomplishments  Honors, awards, or recognitions you have received  Volunteer, leadership, and extracurricular activities  Specialized skills or abilities  Interests and hobbies Talk to friends, mentors, employers and parents to also edit and make corrections on the resume

31 31

32 32

33 33 If you are unsure as to what to include in your Resume this website will help you along the way All you need to do if fill in the information that applies to you.

34 34 Aside from Personal Information you will also be asked to add any Work Experience, Honors, Awards or any other Activities that you are involved in…Simple as that!!

35 35 Here it is!! Your Resume!! You can save the document as well as print copies

36 36 Letter of Recommendation and/or Nomination Letter Letter of Recommendation: A letter written by someone who admires you and can testify to your scholarship worthiness. Nomination Form: A document completed by someone who has the power and authority to recommend you for a scholarship. This may or may not accompany letters of recommendation.  Teachers  Employers  People whom you have volunteered for Formal Informal  Member/leader in club/organization you are involved in  Instructors for activities outside of school

37 37 The Scholarship Search  Inquire about scholarships through: High School College(s) student is interested in attending Local businesses Religious organizations Places of employment Internet − − CollegeInvest − −Get a free copy of our scholarship workbook

38 38 Klingon Scholarship

39 39 Wool Scholarship 2008 Senior Winners 2008 Junior Winners

40 40 Drink Milk Scholarship

41 41 Write About Your Dog!

42 42 2008 Duct Tape Scholarship Winners

43 43 2009 Duct Tape Scholarship Winners

44 44 Other Scholarships  American Association of Candy Technologists Scholarship  Patrick Kerr Skateboard Scholarship  Vegetarian Resource Group Scholarship  Ball State University's David Letterman Scholarship  Tall Clubs International Scholarship

45 45 The CollegeInvest Opportunity Scholarship  Thirty-Eight (38) randomly drawn $1,000 scholarships will be awarded to Colorado students who : Attend a Colorado two or four-year college, or vocational college, or university Will be full time, undergraduate students in the 2008-09 school year Complete the Free Application For Federal Student Aid and have an EFC of $15,000 or less (FAFSA does not have to be completed prior to registering) NO GPA or Essay requirements Apply online at

46 46 The CollegeInvest Service Scholarship  Twenty seven (27) randomly drawn $6,000 scholarships (award amount will be divided over a two-year period, $3,000 each year) will be awarded to Colorado students who Attend a Colorado two or four-year college, or vocational college, or university Will be full time, undergraduate students in the 2008-09 school year Complete the Free Application For Federal Student Aid and have an EFC of $15,000 or less (FAFSA does not have to be completed prior to registering) Commit to 40 hours each year, for two years, in a service- to-children volunteer program NO GPA or Essay requirements Apply online at Deadline: April

47 47

48 Have Questions? Need Help?

49 49 Frequently Asked Questions  My parents are divorced. Whose information do I put on the FAFSA?  I have a stepparent. Do I need to include his/her information?  I am making less money in the current year than the last year. How can I reflect this?  How can I be considered independent even if I have answered ‘no’ to all the required questions?  My grandmother lives with us, can she be included in our household size?  My parents do not have a social security number, can I file a FAFSA?

50 Time Line Senior Year

51 51 Time Line - Senior Year Fall Apply for colleges Apply for scholarships Early spring Complete and submit the FAFSA online The government processes the form and determines your EFC Receive and review the Student Aid Report (SAR) The information goes to colleges Late spring The colleges create an “Award Letter” Compare offers; make decisions *Must be accepted to a college to receive an award letter

52 52 Helpful Tools  FAFSA 4Caster See what your EFC might look like  College In Colorado “Pay” tab then “Available Tools” Financial Aid Award Estimator Slope Calculator  CollegeInvest For information on student loans and college savings

53 Questions?

Download ppt "Financial Aid & Scholarships Senior Checklist. Authorize COF."

Similar presentations

Ads by Google