2. Financial aid and the FAFSA How do I get money for college and where do I start? Twitter: www.twitter.com/wacomacwww.twitter.com/wacomac Facebook: MAC Program

3. The College Advantage Weathering the College Storm Georgetown University, Anthony P. Carnevale About a third of all of those "some college but no degree" people have more than 60 credits (the equivalent of an associate degree) – Lumina Foundation

5. What will be included in my Financial Aid Package?

6. Free Grants (Usually Federal or State) Scholarships (Academics, Sports or Need) Loans Student (Subsidized or Unsubsidized) Parent Work Work Study (Job on Campus) Internships (Usually for Juniors or Seniors)

7. Financial Aid Reality Check College costs are up and financial aid is down: Maximum Pell Grant is the same but due to changes students are receiving less. Most states have eliminated or downsized state grant funding Federal funding available for the lowest income dependent students: Pell Grant (Maximum) $ 5,550 Maximum Direct Loans*Independent Students Freshman year$ 5,500$ 9,500 Total $11,050$15,050 You may also receive work-study that is usually around $3,000 as determined by the college. Reality Check: Without other funds what colleges can you afford?

13. ❑ I was born before January 1, 1990 ❑ I am married ❑ I will be working on a master’s or doctorate program (e.g., MA, MBA, MD, JD, PhD, EdD, graduate certificate) ❑ I am serving on active duty in the U.S. Armed Forces ❑ I am a veteran of the U.S. Armed Forces ❑ I have children and I provide more than half of their support ❑ Since I turned age 13, both of my parents were deceased ❑ I have dependents (other than children or my spouse) who live with me and I provide more than half of their support ❑ I was in foster care since turning age 13 ❑ I was a dependent or ward of the court since turning age 13 ❑ I am currently or I was in legal guardianship ❑ I am currently or I was an emancipated minor ❑ I am homeless or I am at risk of being homeless

16. Cost of Attendance* efc Student Need *Total cost including tuition, fees, books and living expenses

17. *Always Check on your Financial Aid* Never Assume Financial Aid has All the Paperwork They Need from You

18. Changes to Verification Students that are picked for verification can no longer use a copy of the parent and student tax return. They must use one of the following: IRS Data Retrieval – IRS put in place to simplify the process by populating the FAFSA with accurate income tax information. IRS income tax transcript – must be requested from the IRS The tax return must be processed by the IRS not just completed to do either of the above. Using the Data retrieval is recommended. However, since colleges give priority to early FAFSA filers, students usually need to file the FAFSA with estimates or possibly actual figures from the unfiled tax return. This requires students to make corrections later using IRS Data Retrieval.

19. Read your Student Aid Report! EFC – Expected Family Contribution * - Picked for verification – extra paperwork will be needed by your college C - Needs a correction – read comments for instructions DRN – Can be used by Colleges to retrieve your information This is a sample SAR. Yours can be found on the FAFSA website once your FAFSA is processed.

21. *You will be asked if you are interested in Work Study on the FAFSA

23. Information about the program: MAC Scholarship Program eligibility: Graduation from a McLennan County High School or GED Program. A family income of under $50,000 or have special circumstances. Completion of the MAC Application by May 1 st of their Senior year in High School with a copy of the FAFSA or TAFSA attached. Applications may be mailed, emailed or submitted online at www.wacofoundation.org. www.wacofoundation.org Once accepted, the student can receive one or both of the following: MAC Grant: The Grant provides help with tuition at MCC or TSTC up to $1,000 per semester for two years. This is awarded to cover any tuition that is not covered by other scholarships or grants. If the student does not attend MCC or TSTC they are not eligible for MAC Grant but are eligible to request a MAC Scholarship.

24. MAC Scholarship : These scholarships are provided to help successful students continue their education after two years. They are usually $5,000, but Baylor provides three full tuition scholarships for transfer students with the highest GPA. MAC Scholarship Program students are eligible for these scholarships if they meet the following requirements regardless of the college they are attending or plan to attend. MAC Scholarships for the last two years of college are competitive and the requirements are as follows: Be accepted into the MAC Program as a high school senior or after reconsideration due to a change in financial circumstances, if originally declined. Must request the scholarship by Dec 1 st for funding the following year. Must have at least a 3.0 GPA and 60 credit hours by June 1 st after applying. Consideration is also given to students in special programs such as Nursing. University Center Programs at MCC do qualify.

25. All we require to apply is the FAFSA and all students must complete that anyway. So why not? Even if your family income is above our guidelines you should apply. If in the next 3 years your income situation changes you can be reconsidered for funding. We consider special circumstances such as # in household or # in college so you may be approved even if you are over our income guidelines. Even if you don’t plan to attend MCC or TSTC you should apply. Applying now will make you eligible to apply for the MAC Scholarships to attend the college of your choice. We are a good resource and can be of assistance through your whole financial aid process. Our help is free!

26. Turn in any application (FAFSA or Scholarship) well before the deadline. This allows you time to follow up and verify that it was received and complete. Check the financial aid page on your college website for any additional forms you may be required to complete. Inquire at financial aid about your eligibility for TEXAS Grant, B-on-Time Loan, or other state funds. You must request state loans to receive them! If you are eligible for a work study job, apply early for the best jobs. If you need Student or Parent Loans, complete the Loan paperwork online as soon as possible after your FAFSA is processed. Financial Aid will give you instructions. If you need Parent Loans to help pay for your college and your parent is turned down take the decline letter to financial aid and you may be able to receive additional Student Loan money. If your present income situation is different now than last years income reported on your FAFSA, complete a “Special Circumstances” form and turn it in to Financial Aid at your college. It never hurts to make an appointment with someone in Financial Aid to go over your award and other options. You may be able to negotiate for more funds. Complete all paperwork and dealings with Financial Aid at your college before May 1st unless you like long lines or being on hold for hours. Apply Early!

27. Robbie Stabeno, Director of Scholarships rstabeno@wacofoundation.org Eric Wyatt, Coordinator of the MAC Scholarship Program ewyatt@wacofoundation.org Waco Foundation 1105 Wooded Acres Suite 701 Waco, TX 76710 Phone: 254 752-9457 Fax: 254 753-2887 www.wacofoundation.org www.twitter.com/wacomac Facebook: MAC Program