1. Financing Your Education Brookdale Community College

2. Current Cost of Brookdale Per Semester – Fall 2004 u Tuition and Fees $ 1,380 u Books and Supplies 500 u Transportation 821 u Personal Expenses (lunch) 425 TOTAL $ 3,126 Semester Brookdale is currently $ 106.15 a credit ($ 87.75 per credit –tuition, $ 18.40 per credit – fee) Tuition/Fees based on 13 credits

3. New Jersey College Cost Comparison Per Academic Year u Brookdale CC$ 6,252 u Public four-year college$ 15,000 u Private four-year college$ 26,000 * Includes tuition, room and board

4. Getting There Starts Here Two + Two u 4 years at a private university $104,000 u 2 at Brookdale + 2 at above$ 64,256 u Savings $ 39,744 u 4 years at a public university $60,000 u 2 at Brookdale + 2 at above $42,256 u Savings $17,744

5. Financial Aid Process u You complete the applications!!!!! –FAFSA (Get a PIN and Apply On-Line) –On-line BCC Confidential u There are Eligibility Formulas –Federal Methodology/NJ Tuition Aid Grant Formula u You provide information to college –Verification documents such as tax returns u Receive a letter (award) from college –May contain up to 3 types of financial aid

6. http://financialaid.brookdalecc.edu

7. The PIN serves as your identifier to let you access your personal information in various U.S. Department of Education systems. Your PIN serves as your electronic signature. Both students and parents should apply for a PIN. www.pin.ed.gov

8. www.fafsa.ed.gov Ability to file FAFSA on- line expedites the process and is less error prone Provides access for students to check their application status or make corrections on-line. Provides tools to aid in gathering information used to complete the FAFSA.

9. Sources of Financial Aid u Federal Government u State Government u College-BCC Foundation u Private Organizations

10. Types of Financial Aid u Gift aid –Not paid back »Grants and scholarships u Loans –Paid back with interest »Student and/or parent may borrow u Work-study –Earned as wages »Part-time jobs on or off campus

11. Financial Need Cost of attendance - Expected Family Contribution (EFC) = Financial need

12. Where are the Scholarships? u Institutional Scholarships –Brookdale Community College Foundation u Outside Scholarships –NJ STARS –online searches (www.finaid.org) –High School guidance counselor –local organizations –parent’s and student’s employer –church or synagogue –local hospitals, 4-H, Rotary Club, etc.

13. What is NJ STARS ? Merit Scholarship for Degree seeking students attending a community college who graduated in the top 20% of their high school graduating class Covers Tuition and Fees (up to 15 non- remedial credits), and Equipment Costs but not health insurance fees May receive NJ STARS scholarship for 5 semesters provided student maintains full time enrollment

14. www.finaid.org Offers various calculators, ranging from cost projectors, EFC estimators & loan payment Covers FAQ’s about applying for aid & eligibility, along with a glossary of terms. Information about federal, parent and private loan programs, including interest rates, repayment, and borrowing limits. Provides general information about various scholarship search options

15. Loan Programs at BCC Federal Stafford Loans (variable rate, 8.25% cap) currently 2.77% Subsidized: need based/interest subsidy Unsubsidized: no need/no interest subsidy $2,625 Freshman $3,500 Sophomore Parent Loans (PLUS-4.17% or NJCLASS-5.25 %)