1. Paying for College Financial Aid Overview

2. Plan for Success College Planning Center – Banknd.nd.gov Discover your interests – RUReadyND.com Find a School – College Navigator Save for college – College SAVE

3. How Americans Pay for College

4. College Expenses Tuition & Fees Room & Board Books & Supplies Transportation Miscellaneous Personal Expenses

5. What is Financial Aid Scholarships Assistance Programs State Grants Federal Grants Federal Work Study Federal Student Loans Non-Federal Student Loans

6. Where to Find Scholarships Local businesses & organizations Library Colleges/Universities Religious Organizations Fraternal Organizations Employers Tribal Agencies State Agencies Large Corporations Internet

7. Internet Addresses nddfs.org fastweb.com finaid.org scholarships.com collegenet.com cashe.com winscholarships.com

8. Assistance Programs ND Job Corps Vocational Rehabilitation Employee Assistance Military Tuition Benefits Tribal Higher Education Individual Development Accounts −ND Community Action Partnership −Call 701-232-2452 or visit www.capnd.org

9. State Grants Scholars Program Indian Scholarship: $2,000 Academic or Career &Tech Ed Scholarship: $1,500 State Student Incentive Grant: $1,650

10. FAFSA Free Application for Federal Student Aid Basic application for student aid Collects student and family info School determines financial aid Completed online – fafsa.gov

13. Documents for FAFSA Social Security Number 2014 Federal Income Tax Return 2014 Untaxed income records – Veterans noneducation benefit records – Child support received – Worker's compensation Balance of cash, savings and investments Alien registration or permanent resident card (if not a U.S. citizen)

14. FAFSA Tips Complete as soon as possible – By April 15 for best results Complete taxes 1 month prior Follow up with financial aid office Must do FAFSA each year

15. Frequent FAFSA Questions Who is a parent? Who to include in household? What assets to report?

16. FAFSA4caster.ed.gov Federal aid estimator Any student of any age Reminder to fill out the FAFSA Won’t have to retype

17. Financial Aid Process Apply to Schools Complete FAFSA Review SAR Receive Award Letter Choose School Sign MPN Money sent to school

18. Federal Work Study Say “yes” on FAFSA Jobs may be on or off campus Eligible employers: – School – Agencies – Organizations

19. Federal Grants Pell Grant: – Up to $5,730 FSEOG: – Up to $4,000 TEACH Grant: – $4,000

20. Pell Grants 2008-09 Pell Grant Recipients by Family Income

21. Student Loans Federal Perkins Federal Direct Federal PLUS State DEAL Loan Program Alternative Loans

22. Federal Direct Loans Subsidized: – Government pays interest for student while in-school, grace or deferment status Unsubsidized: – Government does not pay interest for student; the interest is billed quarterly

23. Federal Direct Loan Limits Dependent Students $5,500 – Year 1 $6,500 – Year 2 $7,500 – Years 3-5 Independent Students $ 9,500 – Year 1 $10,500 – Year 2 $12,500 – Years 3-5 $20,500 – Graduates

24. Federal Direct Loan Details Student is the borrower Must be enrolled at least half-time Sign Master Promissory Note (MPN) Fixed interest rate (2014-15) – 4.66% undergraduate loans 1% loan fee Repayment begins after out of school for 6 months

25. Federal PLUS Loan Loan in parent’s name Parent responsible for repaying Credit application required Fixed rate = 7.21% 4% loan fees Repayment begins after 60 days Must sign Master Promissory Note (MPN)

26. State DEAL Loan Dakota Education Alternative Loan FAFSA required Low interest rate Fixed or variable No tiers Credit worthy cosigner if under 24 Deferment options

27. Alternative Loans Variable interest rates Tiers based on credit Cosigner may be required Terms vary among lenders Wells Fargo Discover Sallie Mae

28. What is the average student loan debt in North Dakota? A.$27,400 B.$37,400 C.$47,400

29. How much should I borrow? 10% of anticipated gross income Example $30,000 – Anticipated annual income $2500 – Monthly income $250 – Monthly student loan payment

30. Who Can Help High School Counselor College Financial Aid Office BND College Planning Center

33. BND College Calendar App Preparing for college just got easier for parents and students. Download the free BND College Calendar app so you don’t miss ACT test dates, statewide high school activities, scholarship deadlines and important reminders. BND College Calendar app is available at Apple, Android, BlackBerry, Kindle and Window stores.

34. 800.554.2717 banknd.nd.gov