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1 PLANNING FOR LIFE AFTER HIGH SCHOOL GRADUATION Presented by: Connie Corcoran Associate Director Student Financial Aid Emporia State University.

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Presentation on theme: "1 PLANNING FOR LIFE AFTER HIGH SCHOOL GRADUATION Presented by: Connie Corcoran Associate Director Student Financial Aid Emporia State University."— Presentation transcript:

1 1 PLANNING FOR LIFE AFTER HIGH SCHOOL GRADUATION Presented by: Connie Corcoran Associate Director Student Financial Aid Emporia State University

2 2 Why Is A College Education So Important to Me? Personal reasons Professional reasons Financial reasons Statistics show that higher levels of educational attainment are directly associated with higher levels of income

3 3 Why Is Finishing School So Important to Me?

4 ASK YOURSELF THESE QUESTIONS What are your financial goals? What are your educational goals? What are your career goals? 4

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9 9 HOW TO….. Plan for College Find a College Pay for College Check out this website

10 PLAN FOR COLLEGE The toughest part of planning something is finding out where to start. Take college prep classes Develop and fine tune study skills Senior Action Plan Make a master calendar so you don’t miss important dates and deadlines 10

11 FIND A COLLEGE Choosing a college is a big decision. There's no such thing as a "perfect" school. Explore your interests and take the time to find the college that's right for you. Check size of college Location of college Do they offer the degree you wish to obtain? What about campus life? Cost??? 11

12 WHERE TO START Research Your College Options Types of Colleges  Private, Public, 2-year, 4-year, Vocational, Community College Your College Degree Options College Costs and Financial Aid Campus Life College Visits Virtual Visits 12

13 13 PAY FOR COLLEGE Tuition and fees Room and board Books and supplies Transportation Miscellaneous personal expenses Loan fees Each school determines their yearly COA to include:

14 COMPARE COSTS 14 SCHOOLTUITION FEES ROOM BOARD BOOKS SUPPLIES TOTAL COST Community College 14 hrs $2356$5150$1000$8,506 ESU 10 + hours $4636$6230$900$11,766 Public (large) 14 HRS. $222 $6,228$6,954$900$14,082 Private 12 + hours $22,200$7,030$1200$30,430

15 15 WHAT IS FINANCIAL NEED?  Cost of Attendance (COA)  – Expected Family Contribution (EFC)  FAFSA requires information from the 2010 Federal tax return, which includes various asset information from both parent(s) and student  Various percentages from parent and student income and assets, household size, number in college determine EFC. = Financial Need

16 16 COA - EFC = NEED

17 17 FEDERAL AID Complete the 2011-12 Free Application for Federal Student Aid (FAFSA) Available online at after January Pre-application worksheet available from your high school counselor in January or you can download it from

18 18 FAFSA on the Web Web site: Don’t be scammed – use only this site 2011-2012 FAFSA available on or after January 1, 2011 Call toll free 800-433-3243 for paper FAFSA Pre-Application Worksheet & built-in edits to help prevent costly errors Available from HS Counselor RENEWAL FAFSA for next year’s application will use same PIN

19 19 PIN Registration Web site: Not required, but speeds processing Keep PIN in safe place Can get PIN anytime PIN acts as electronic signature Both student and parent need a PIN

20 20 Principles of Federal Need Analysis To extent they are able, parents have primary responsibility to pay for dependent child’s education Students also have a responsibility to contribute to their educational costs Families are evaluated on their previous year’s financial information A family’s ability to pay should be evaluated in an equitable and consistent manner, recognizing that special circumstances may affect ability to pay

21 21 Independent Student Definition At least 24 years old by December 31 of award year covered by the FAFSA; Graduate or professional student; Married; Has children or dependents (other than a spouse) for whom the student provides more than half support; Orphan or ward/dependent of the court; Veteran of U.S. Armed Forces or currently serving on active duty (for other then training purposes) in the Armed Forces; or Determined to be “independent” by financial aid administrator based on unusual circumstances

22 Federal Programs PELL GRANT SUPPLEMENTAL GRANT WORK STUDY TEACH GRANT Really an unsubsidized loan until teaching agreement to serve is fulfilled PERKINS LOAN DIRECT STAFFORD LOAN Subsidized Unsubsidized

23 23 FEDERAL STAFFORD LOANS Subsidized: Must demonstrate “need” Unsubsidized: Not based on “need” Base annual loan limits (combined subsidized and unsubsidized): $3,500 for 1st year undergraduates $4,500 for 2nd year undergraduates $5,500 for each remaining undergraduate year Fixed interest 6.8% - Unsubsidized Subsidized – 4.5% in 10-11; 3.4% in 11-12;12-13 6.8% unless legislative action is taken

24 24 What Happens Next? FAFSA processed by federal processor (allow 3-4 weeks for paper app & 1-2 weeks for web app) Student receives Student Aid Report (SAR) EFC & Data Release Number  (DRN) can be used to make some changes over the phone with the federal processor Remember to apply for Admission Meet your colleges priority deadline

25 25 What is Verification? Government selects 1/3 of applicants Some schools do 100% verification School needs copy of parents’ & student’s tax return & copies of all supporting W2’s May need copies of other documents Respond to all requests for information Call, when you have questions

26 26 Your Award Notification Depending on institutional policy, you may receive notification of your awards via US Mail or you may receive them electronically Most awards are based on full-time enrollment. If you are not attending full-time, notify the financial aid office so they may revise your aid Accept or decline awards If you decline or reduce your loans now and you decide later you need additional funds, contact the financial aid office. You may still have eligibility for additional funds. Revisions

27 27 How do I find out about other scholarship opportunities?  CHECK WITH EACH SCHOOL YOU ARE CONSIDERING ATTENDING  Academic Scholarships  Based on grades, ACT scores, rank in graduating class  Departmental Scholarships  Based on college major; grades can make a difference  Activity Scholarships  Available for being involved on college campus  Grades not necessarily a factor (choir, band, SGA, etc.)  Athletic Scholarships/Grant-In-Aid  For participation in athletic activities

28 28 Are There Any Other Resources? CHECK WITH YOUR COUNSELOR ON A REGULAR BASIS Private business scholarships (e.g., Wal-Mart, Gates Foundation, etc.) Civic organization scholarships (e.g., PTA, Elks Club, Lions Club, American Legion, etc.) Churches Parents employers Jones Educational Foundation

29 29 Private Scholarship Search Free Internet scholarship search engines: FinAid on the Web: College Board: FastWeb: GoCollege: The Collegiate Websource:

30 STATE OF KANSAS RESOURCES Complete the 2011-12 State of Kansas Application Available online at: Paper application available from your high school counselor perhaps late November $12 application fee  Vocational Scholarship  Kansas Ethnic Minority Scholarship  Kansas Nursing Service Scholarship  Kansas Teacher Service Scholarship  Kansas State Scholarship  Kansas Comprehensive Grants – no application  Must file FAFSA by April 1 30

31 31 Tuition Voucher – $1000 Reside in Lyon, Osage, or Coffey County high school after 2008 Attend Emporia State University or Flint Hills Technical College Be a full time student (12 hours or more) Maintain 2.00 cumulative GPA Complete 12 hours per semester Educational Grant – Need to complete the FAFSA and Jones Educational Grant Application Contact Jones Foundation – 620/342/1714

32 32 AVOID BEING SCAMMED The Scholarship Fraud Prevention Act created a fraud-awareness partnership between the U.S. Department of Education and the Federal Trade Commission (FTC). For more information about scholarship scams or to report a scam, call the FTC toll free at 877-FTC-HELP (877-382-4357) or go to

33 33 How will I be able to pay for college? Start saving for your education now! When you find a part time job – save half of your paycheck and put it in your college fund. When you receive gift money – put half of it your college fund. Apply for federal financial aid by completing the FAFSA each year after January 1

34 34 Questions??

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