Presentation on theme: "Preparing for the Cost of College Average Tuition & Fees Cost (2013/14) –$3,215 / year for in-state public college (2-year) –$11,600 / year for in-state."— Presentation transcript:
Preparing for the Cost of College Average Tuition & Fees Cost (2013/14) –$3,215 / year for in-state public college (2-year) –$11,600 / year for in-state public colleges (4-year) –$30,094 / year for private colleges Average Room & Board Cost –$9,498 / year for public colleges (4-year) –$10,823 / year for private colleges Average Books & Supplies Cost (2012/2013) –$1,200 / year for public colleges –$1,244 / year for private colleges Average Personal & Transportation Cost –$3,148 / year for public colleges –$2,422 / year for private colleges Average TOTAL Cost –$25,446 / year for public colleges –$44,583 / year for private colleges
How to Pay for the Cost of College Fill out FAFSA –Apply for pin number anytime: www.pin.ed.gov www.pin.ed.gov –Fill out the form January 1 – March 31, 2015: www.fafsa.ed.gov www.fafsa.ed.gov –Must use yours & parents’ 2014 tax information Student Aid Report (SAR) –Sent to all colleges/universities indicated on FAFSA –Financial Aid package sent directly from each college includes: Income-based Grants / Academic-based Merit Awards – FREE money Work-Study – Money for WORK completed Loans – Must be PAID BACK –Includes Expected Family Contribution (EFC)
Financial Aid Explained Grants / Merit Awards – FREE money –Federal Pell Grant - $602 to $5,730, based upon EFC & COA –Federal Supplemental Educational Opportunity Grant (FSEOG) - $100 to $4,000, based upon Pell eligibility & availability –State Grant Programs: Michigan Tuition Grant, Michigan Competitive Scholarship, and Tuition Incentive Program (amounts vary) –School-Based and Private Grants, Merit Awards – based on need and/or academics/athletics. Work-Study – Money for WORK completed –Typically campus jobs where the money you earn is paid to you, but is intended to be used toward college expenses. Loans – Must be PAID BACK –Perkins, Direct Subsidized & Direct Unsubsidized (Stafford) – for students –Direct PLUS - for parents of undergrads –Payment begins after graduation Expected Family Contribution (EFC) –EFC does NOT change no matter what the cost of attendance (COA) –Families use savings, income, personal and private loans, tax credits, tuition payment plans, and/or private scholarships to cover EFC
This is YOUR Future, so Do YOUR Part! Independent / Private Scholarships –They don’t look for you, you MUST find them! –Start searching and applying over the summer after Junior year and continue throughout Senior year. Jan-May is prime time! –The more applications filled out, the higher your chances of getting $$$. –Small amounts can add up, and any amount will help. Don’t think, “So many other people will apply, I’ll never get it.” –Find one or 2 search engines you are comfortable with and check them regularly. –Check the Scholarship tab under the Counseling webpage for more information –Scholarship board in the Counseling office
Scholarship Sites Go to our link at http://www.lakeview.misd.net/lakeviewhs /counseling.aspx http://www.lakeview.misd.net/lakeviewhs /counseling.aspx http://www.lakeview.misd.net/lakeviewhs /counseling.aspx www.fastweb.com https://bigfuture.collegeboard.org/scholar ship-search https://bigfuture.collegeboard.org/scholar ship-search www.cappex.com www.collegeNET.com www.scholarships.com www.ScholarshipMonkey.com
Summer Assignment We will help you begin the process today Continue to search and apply over the summer Print off completed applications & bring to the counseling office by September 2, 2014. The student with the most scholarship applications completed over the summer will win a $100 Amazon.com gift card!
Applications - Transcript Requests Applications to 4 year colleges & universities should be submitted by October 31, 2014 (sometimes earlier for early decision deadlines) (sometimes earlier for early decision deadlines) Transcript requests must be submitted through Parchment ( Transcript requests must be submitted through Parchment (http://www.parchment.com/)http://www.parchment.com/ Directions available on the Counseling webpage