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F INANCIAL A ID, S CHOLARSHIPS, AND A FFORDABILITY.

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Presentation on theme: "F INANCIAL A ID, S CHOLARSHIPS, AND A FFORDABILITY."— Presentation transcript:

1 F INANCIAL A ID, S CHOLARSHIPS, AND A FFORDABILITY

2 O UR P URPOSE T ODAY Share basic financial aid information Discuss scholarships –How to apply –Where to apply –Helpful tips Affordability –The value of attending college –The cost

3 T HIS IS NOT OUR G OAL

4 F INANCIAL A ID 101 FAFSA.gov January 1 st of your Senior Year Both the student and one of the parents signs the FAFSA IRS Data Retrieval Tool Attend your High School Financial Aid Night FAFSA4caster – complete an informational application to show how much you should be saving for school Studentaid.ed.gov – website providing resources and general information Loans, grants, outside resources

5 UWM S CHOLARSHIP O PPORTUNITIES FOR I NCOMING S TUDENTS University Wide Scholarships Discount Programs for Out-of-State students School/College Scholarships –9 out of our 10 Schools/Colleges offer New Freshmen Scholarships in addition to scholarships for current students The Scholarship Brochure lists these –new brochures for will come out in August, 2014

6 T IPS TO H ELP Y OU WITH Y OUR S CHOLARSHIP S EARCH Scholarship search is much like a job search Get organized Locating scholarships Applications and Personal Statements Letter of recommendations Building a competitive scholarship profile

7 S CHOLARSHIP S EARCH IS L IKE A J OB S EARCH Scholarship Hunting = Job Hunting Scams Exist Rejections are Discouraging Can be VERY Emotional Your Past Can Help or Hurt Your Efforts Time Consuming Lots of Work Networking Helps Need to be Organized Deadlines Matter Uses a Variety of Search Tools 1st Impressions Count Interviews can help or hurt Based on Best Match Can Change your Future Provided by UWM’s Life Impact Program

8 G ET O RGANIZED ! Organize your papers:  Use an accordion folder to keep track of all your papers.  Label the sections: Potential Scholarships, Applications, Applications Sent, Scholarships Awarded, Scholarships Rejected  Keep a calendar with dates of deadlines Organize Electronically:  Create an specifically for scholarships  Use Calendar function to keep track of deadlines  Create an electronic folder with sub-folders: Resume, Potential Scholarships, Applications, Applications Sent, Scholarships Awarded, Scholarships Rejected Consider a Scholarship “Club” with peers interested in supporting each other’s efforts

9 L OCATING S CHOLARSHIPS Local Scholarships- HS Guidance Office, parents’ workplace, church, local organizations. College and Universities will list search engines to help search for outside scholarships. –Scholarships.uwm.edu  Tips for Applying  Locating Scholarships  Links to Outside Scholarships A good search engine site for Wisconsin based scholarships: Compass Guide epic.cuir.uwm.edu/compass or google: UWM Compass Guide. Be aware of scholarship scams!!

10 A PPLICATIONS T IPS Make sure you meet the qualifications before applying. Your application represents the entire and only picture of you that the selection committee has. Always type your application. Do not leave any questions blank. If information requested is being sent by someone else, confirm that the scholarship provider has received it. Proof read it before submitting.

11 P ERSONAL S TATEMENTS A winning personal statement offers an inside glimpse to your life and accomplishments. It’s important for the reader(s) to come away feeling like they understood your core interests, skills and values. Example Scholarship Essay Questions Describe one specific example of your leadership ability. Describe why you wish to obtain a college education and why you are deserving of a scholarship. Describe what influenced your decision to pursue Engineering as a career. What personal information do you wish to share with the scholarship selection committees? Please address the following: a) family background; b) achievements; c)current educational status; d) career goals; e)community service/extra- curricular activities f) financial need for this scholarship; and any other information relevant to this application. Provided by UWM’s Life Impact Program

12 S ELLING Y OURSELF TO THE S ELECTION C OMMITTEE A personal statement is like a 30-second commercial during the Super Bowl. You have to grab the readers’ attention with your story so they decide they want to invest in you. Be sure to cover all aspects of the scholarship criteria that it asks for. Highlight your strengths. Avoid laundry lists of accomplishments. Have others read it with the idea that if it was their money they were giving away, would they give it to this application.

13 L ETTER OF R ECOMMENDATIONS Who to select? When? How? Say “Thank you”

14 B UILDING A C OMPETITIVE S CHOLARSHIP P ROFILE Last transcripts committees will see are the Junior year- work hard! Take ACT/SAT prep-test courses or online tutoring to help improve scores Plan to take college prep courses like AP, IB, Honors in Senior year. Get involved! Join clubs and organizations Consider leadership positions Don’t forget service and volunteerism

15 S CHOLARSHIP FOR S TUDENTS WITH C HILDREN The Life Impact Program $5,000 Renewable Scholarship 12 credits) Extensive Support Services –Support Groups, Workshops, 1:1 Coaching –Family Friendly Events –Emergency Funds and Post Graduation Support –Program Center offers free printing, coffee and other resources Life Impact Program scholars graduate sooner, incur less loan debt and have higher GPAs than their peers!

16 S CHOLARSHIP FOR S TUDENTS WITH C HILDREN The Life Impact Program Eligibility Requirements –Parent with a dependent child or children –New incoming freshmen or undergraduate transfer student admitted for the upcoming academic term, as well as continuing UWM Students –Individuals with demonstrated financial need; filing of the FAFSA is required –See website for FAFSA information, program application preferences and current application deadline information

17 S AVING M ONEY ……… Start saving now! Ask your family to support you Plan to buy your books at the start of each semester

18 B IG I NVESTMENT, B IGGER R EWARDS Increased Earning Potential: Someone with a bachelor’s degree will earn about $1 million more than a high school graduate over a 40-year career. (US Census Bureau) You are less likely to be unemployed. (Bureau of Labor and Statistics Employment Projections) Short term investment with a long term return

19 A FFORDABILITY Definition:Definition: Believed to be within one’s financial means: affordable tuition, an affordable risk. Affordable: inexpensive; reasonably priced.

20 A FFORDABILITY Risk If a student really wants to afford college they will find a way to fund it. Calculated Risk Students must start their planning for college as early as possible: What Classes to take Costs Saving Scholarship searches It takes more than will – it takes planning as well.

21 A CCORDING TO WAICU’ S 2014 G UIDE : Average tuition and fees in for private colleges: $26,526 HOWEVER….

22 T UITION AND FEES TO ATTEND UWM IN 2014/15 IS : $9,438

23 T RUE C OST OF A TTENDANCE Direct Costs –Tuition, Fees, Housing –Tuition and fees will be $9,438 for the year or $4,719 for the semester –Housing is dependent upon your living circumstances: on campus vs at home. – What you ultimately pay Indirect Cost –Books, Personal/Misc Expenses, Medical, Transportation –Housing is dependent upon your living circumstances: on campus vs at home. – The “sticker price” you plan for

24 T OTAL C OST TO ATTEND UWM IN 2014/15 IS : $21,274 This includes : Tuition and Housing and Weekly expenses!

25 S AMPLE C OST OF A TTENDANCE FOR : $21,274 Tuition & Fees$9438 (Fall/Spring or $4719 for one semester) Books$ 700 Room$6126 (AVG of double room in Sandburg, Riverview and Cambridge) Board $3010 (level 1 meal plan) Personal/Misc $2000 ($62.50 per week)

26 V ALUE A DDED Average Cost of a new Car: $30,500 in 2012 Average Cost of Tuition and fees at UWM for 4 years: $37,600 ***A four-year degree can take you places no car can. There is no depreciation on your education, it can only appreciate.

27 W HAT ARE THE TOP 5 GOALS FOR YOUR LIFE ? 1. ………………………………… 2. ………………………………… 3. ………………………………… 4. ………………………………… 5. ………………………………… What do you have to do to achieve these goals?

28 DARE TO BE R EMARKABLE It doesn’t cost anything…. It gets you everywhere……

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