Finding Money for College January 18, 2012 North Vermillion High School

2 We will talk about: Federal student aid State student aid Student aid from colleges Scholarships from other sources Schools & Admission Criteria

TYPES OF SCHOOLS 4-Year Colleges (State or Private) Junior Colleges (2 year degree or transfer program) Vocational/Technical Schools 3

ADMISSION CRITERIA 4-Year –Core 40, AHD or Tech. Honors –SAT or ACT –Top ½ of class 4

ADMISSION CRITERIA (CONT.) Junior College or Voc./Tech –High school diploma –Final transcript –Schools may give placement test –Ivy Tech (Compass Test can be given at NV) 5

6 We will answer: What is financial aid? Who can get it? How much can I get? How do I apply? What happens next? Where can I get more info?

7 What is financial aid? Money to pay for college or career school –Grants –Loans –Work-study –Scholarships

Grants Gift aid, do NOT pay back Based on need Can be awarded by federal, state, college 8

Loans Student Loans –Student responsible to pay back –Low interest rate –Pay back after out of college –6 month grace period –Can take 10 years to pay back 9

Parent Loans Parents responsible for payment Low interest rate Immediate pay back (like car loan) 10

Work Study Considered need based aid College helps student find campus job based on class schedule Student is paid Money may be used at student’s discretion 11

Scholarships Based on merit Academic Athletic Music Art Leadership Religion Other 12

College Scholarships May be judged by application & transcript with no addt’l application involved May need separate application May be automatic for Valedictorian/Salutatorian or may be competitive 13

Twenty-First Cent. Scholars Tuition for state schools, but can use at private colleges Must apply in 7 th or 8 th grade Based on need Must graduate with a diploma Must have a 2.0 on a 4.0 scale No drugs, alcohol or crime Complete FAFSA, can defer for 2 years 14

Military Academies, ROTC, National Guard Military Academies are highly selective, but will pay full cost of college attendance ROTC offers scholarships based on academics & pays stipends, as well National Guard offers tuition at state schools 15

Veteran & Public Safety Grant Tuition assistance to child of –Purple heart recipient or wounded veteran –POW/MIA –Deceased or disabled veteran –Deceased police officer or firefighter 16

Vocational Rehabilitation Must have physical or mental disability May qualify for financial aid for higher education Check Voc Rehab Office for information 17

18 Who can get federal student aid? U.S. citizen or permanent resident High school graduate/GED holder Eligible degree/certificate program Valid Social Security number Males registered for Selective Service Satisfactory academic progress

19 How much federal student aid can I get? In general, depends on your financial need. Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA) EFC comes from what you report on FAFSA COA is tuition, fees, room and board, transportation, etc. COA – EFC = financial need

20 How much federal student aid can I get? Example: first-year student in Maximum amounts allowed: Federal Pell Grant: approximately $4,700+ Academic Competitiveness Grant: $750 TEACH Grant: $4,000 Federal Stafford Loan: $5,500 Federal Perkins Loan: $5,500 Federal Supplemental Educational Opportunity Grant: $4,000 Federal Work-Study: depends on funds available at school Federal PLUS Loan (for parents): COA minus other aid received

21 How much federal student aid can I get? For early estimate, use FAFSA4caster: Go to Enter some financial information Get an estimate

22 How much state, school and scholarship money can I get? Depends on the program: do your research! –Our state aid: [ –Ask college financial aid offices for info about aid available at their schools –Free scholarship search:

23 How do I apply for aid? Federal student aid: fill out Free Application for Federal Student Aid (FAFSA) at State aid: complete the FAFSA School aid: contact financial aid office at schools you are considering Scholarships: visit scholarship Web site or call contact number for information

24 How do I apply for federal student aid? 1.Get a PIN at Your parent might need a PIN too Choose your own PIN or let the site choose one for you Don’t tell anyone your PIN!

25 How do I apply for federal student aid? 2.(Optional) Use FAFSA on the Web Worksheet to get ready. Get worksheet at Use checklist to gather documents you need. Fill out worksheet to prepare your answers.

26 How do I apply for federal student aid? 3.Fill out your FAFSA online at Apply on or after Jan.1 but as early as possible to meet all deadlines. Need help? Use “Live Help” icon or call FED-AID. Don’t forget to print confirmation page.

27 How do I apply for federal student aid? 4.Watch for response by , from or by mail Double-check your information online at (use your PIN to log on) or on the paper Student Aid Report mailed to you Correct any mistakes and update any information as necessary

28 How do I apply for federal student aid? 5.Watch for s or letters from the schools you are considering Give the schools any additional paperwork they ask for Meet all deadlines or you could miss out on aid!

29 What happens next? Each school will tell you how much aid you can get at that school. Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.

Frequent FAFSA Errors Name not match social security # Questions left blank, if unsure mark 0 (zero) Divorced or remarried information Fail to include income of parents or step-parents Fail to include untaxed income Report taxes withheld rather than amount actually paid 30

FAFSA Tips Click submit when filing online Check for confirmation FAFSA received & processed Student receives Student Aid Report (SAR) Review & correct SAR State deadline for all corrections 31

eStudent eStudent is secure online section of SSACI to access state grant info (All student should register) Use to –Edits for FAFSA –Change college choice –Address changes 32

33 Where can I get more info? –Information about aid programs –Free scholarship search –Free college search FED-AID –Information about aid programs –Help with the FAFSA

DATES TO REMEMBER Must file FAFSA by March 10 th SSACI s FAFSA edit notification to students Feb-May FAFSA edits must be resolved by May 15 th for state awards SSACI s grant awards mid June (View on estudent) College Go Sunday (Feb 12 Ivy Tech) 34

35 Thanks for coming Contact information: Name: Amy Certain Phone: (765)