2. HOW TO PAY FOR COLLEGE FINANCIAL AID & SCHOLARSHIPS

3. Average Cost for College 4 year- Private/nonprofit 4 year Public 2 year Private - $ 35, 000 - $29,000 - $12, 000

4. Surviving College on a Budget Tuition and Fees Room and Board (dormitories or living off campus) Books and Supplies Personal Expenses Transportation

5. Tuition Example TuitionFeesRoom & Board BooksPersonal Expenses Travel $39,700$3,190$14,730$2,000$1,000$800 Fees include: General, Laboratory, Equipment, Student Activity, Immunization Fees, as well as HEALTH INSURANCE Room & Board: Housing and Meal Plans Drexel University: Philadelphia, PA: 4 Year Private Institution GRAND TOTAL = $61,420

6. What is financial aid NEEDEFCCOA Cost Of AttendanceEstimated Family Contribution MONEY

7. Sources to Pay for College Pell Grant: FAFSA Scholarships: SHPE Loans: SALLIE MAE

8. Pell Grants ”Helps more than 9 million Americans pay for college, may receive each year up to $5,550 ” USNEWS-Education

9. Pell Grant A Pell grant does not have to be repaid Can receive up to $5,500 in free money Amount depends on: tuition costs, financial need, type of college 2/4 year, and if a full/part-time student Must complete a FAFSA ( free application for student federal aid ) Amount award via FAFSA depends on Parents Income

10. Free Application for Financial Student Aid Go here to complete: http://www.fafsa.ed.gov/ http://www.fafsa.ed.gov/ Call this number as well: 1-800-433- 3243 Fasfa 4 caster-helps to predict financial aid for the student, follow this link: https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s 1

11. SCHOLARSHIPS -Free money for School -Types of Scholarships: Academic, Sport, Cultural, Disability, and hobbies -The Make-up: Application, Essay, Recommendation Letters, Resume, and Transcripts

12. SHPE SCHOLARSHIP -Scholarship Amount= $1,000-$3,000 -All STEM (Science,Technology,Engineering & Math) Majors may apply -Deadline is APRIL 1 st -www. shpefoundation.org/scholarships to apply

13. Other Scholarships Hispanicfund.org Hispanicheritage.org Hispa.org Hacu.org Latinocollegedollars.org Salliemae.com Fastweb.org Scholarships.com Uncf.org engineeringedu.com

14. LOANS Visit www.SallieMae.org Types of Loans: Stafford, Perkins & Plus Federal Loans –Subsidized and Unsubsidized –Parent or Student If possible never get a Private Loan-They have very high interest rates and can’t be consolidated

15. Federal Loan Types Perkins- low-interest loans to help needy students finance the costs of postsecondary education Stafford- offered to eligible students enrolled in accredited American institutions of higher educationAmericaninstitutionshigher education Plus- Helps to cover expenses such as books/supplies, Personal expenses, and transportation

16. Subsidized vs Unsubsidized Subsidized- federally guaranteed loans based on financial need. Interest does not accrue on the loan while in school. Instead, the interest is paid by the federal government Unsubsidized- are federally guaranteed loans that are not based on financial need. But, interest does accrue on these loans once it is disbursed to the school.

17. FINANCIAL BEHAVIOR 1.Open a bank account –checking and savings 2.Create a spending budget 3.Obtain a part-time job: work study or campus job 4.Use web services to monitor spending

19. Bank Accounts Bank of America has great Student Checking & Savings Accounts –www.bankofamerica.com/studentbanking/www.bankofamerica.com/studentbanking/ ING DIRECT has an Electric Orange Checking and Orange Savings Account * Open an ESA (Education Savings Account) –www.ingdirect.comwww.ingdirect.com Community Credit Unions establishes accounts for families –www.natfed.orgwww.natfed.org

20. Budget 1.Write a list of all mandatory expenses: Books, Tuition, Toiletries, Food 2.Establish a source of income 3.Create a plan for spending 4.Monitor your bank account(s) 5.Pay ALL BILLS ON TIME

21. Part-Time Jobs -Work Study (look for postings around campus, in labs, library, financial aid office) -Try to work in the computer/Engineering lab, an academic department, or Student Government -Become a Tutor

22. College Bears Financial Wealth Build a credit score- get a credit card with a low Annual Percentage Yield & low credit line, and then pay bills on time Limit excessive debt-Don’t Eat Out or Shop Too Often Be Frugal and SAVE Earn money by working on/off campus and through internships Parents You Can Help Your Children Financially:

23. Questions why wait? Please ask them now… Or email us at shpefoundation@gmail.com shpefoundation@gmail.com Thank you