College 101… for Parents! Glenn Dillard Assistant VP for Enrollment Management Harding University

Sophomore Year in HS List all college options (not based on any major or cost) – create a “long” list List all college options (not based on any major or cost) – create a “long” list Call or each college to receive information Call or each college to receive information Begin research of colleges Begin research of colleges

Junior Year in HS Take the PSAT Take the PSAT Register at Create a “short” list of colleges and begin visiting them Create a “short” list of colleges and begin visiting them Take both ACT and SAT and have scores sent to “short” list colleges. Take both ACT and SAT and have scores sent to “short” list colleges. Register at or

Summer before Senior Year Apply to colleges on “short” list Apply to colleges on “short” list (Whether or not ACT/SAT taken)

Senior Year in HS Visit colleges (during a school day) from “short” list Visit colleges (during a school day) from “short” list Retake ACT and/or SAT Retake ACT and/or SAT January – Apply for aid January – Apply for aid

When visiting… Always visit during a school day! Always visit during a school day! See a day in the life of a college student See a day in the life of a college student Four main questions to ask: Four main questions to ask: 1. Will you tell me about your students? 2. Will you tell me about your faculty? 3. What is there to do outside the classroom? 4. What will happen after I graduate?

How financial need is determined Formula established by U.S. Department of Education Formula established by U.S. Department of Education Cost of Attendance (COA) -Expected Family Contribution (EFC) = Financial Need

Theory of Financial Aid A B C A B C COA 3,000 12,000 27,000 EFC 2,500 2,500 2,500 Need 500 9,500 24,500

Cost of Attendance Fixed Costs: Fixed Costs: –Tuition & Fees –Room & Board Estimated Costs: Estimated Costs: –Books & Supplies –Transportation –Miscellaneous & Personal Expenses

Family Contribution Parent’s prior year income Parent’s prior year income Value of parent’s assets Value of parent’s assets Number of household members Number of household members Age of the oldest parent Age of the oldest parent Student’s prior year income Student’s prior year income Value of student’s assets Value of student’s assets Number in household attending college Number in household attending college

Sources of Financial Aid Federal Government Pell Grant Pell Grant SEOG (Grant) SEOG (Grant) College Work Study College Work Study Perkins Loan Perkins Loan Stafford Loan Stafford Loan PLUS Loan PLUS Loan Supplemental Loan Supplemental Loan State Governments State supported aid State supported aid Institutional Programs Scholarships Scholarships Grants Grants Loans Loans Private Resources Comm. & Religious organizations Comm. & Religious organizations Corporations Corporations

Filling out the FAFSA Not Difficult Not Difficult Have completed tax return (for previous year) handy Have completed tax return (for previous year) handy Point in Time Document Point in Time Document Help is available Help is available Must have a PIN for both student and one parent ( Must have a PIN for both student and one parent (

Submitting the FAFSA - Two Options 1. Paper Document - Approx. processing time: 4-6 weeks 2. FAFSA on the web - Approx. processing time: Hrs.

Tax benefits Hope Tax Credit provides a $1,500 per child tax credit for the first two years Hope Tax Credit provides a $1,500 per child tax credit for the first two years Consult your tax adviser or see IRS Publication 970 for information on education tax benefits Consult your tax adviser or see IRS Publication 970 for information on education tax benefits

Harding Freshman Grant (began fall 2009) Direct Costs Direct Costs - EFC - Stafford & Perkins Student Loans - All free aid available _____________________________ = Harding Freshman Grant

Scholarships National: National: State: State: Local: High School Counselor Local: High School Counselor Institutional: Institutional:

Arkansas Scholarships Arkansas Academic Challenge funded by the Arkansas Scholarship Lottery Arkansas Academic Challenge funded by the Arkansas Scholarship Lottery Governor’s Scholars Program Governor’s Scholars Program Governor’s Distinguished Scholars Program Governor’s Distinguished Scholars Program

Arkansas Scholarships Arkansas Academic Challenge – Arkansas Academic Challenge – 1. Graduate from an AR high school (public, private or home) 2. At least a 2.5 high school GPA 3. At least a 19 ACT Composite 4. Apply between Jan. 1 and June 1 at Click on “YOUniversal” app. $4,500 per year!* *Academic Requirements for renewal

Arkansas Scholarships Governor’s Scholars Program – Governor’s Scholars Program – $4,000 annually*! Achieve at least a 27 ACT (1220 SAT)prior to 12/ high school GPA Financial need NOT a factor Arkansas resident for at least 6 months Apply before 2/1 Only 1 scholarship given per county *Academic requirements for renewal

Arkansas Scholarships Governor’s Distinguished Scholarship - Governor’s Distinguished Scholarship - $10,000 annually*! 1. Achieve at least a 32 ACT (1410 SAT) – prior to 12/31 and have at least a 3.5 high school GPA - OR - 2. Selected as a National Merit Finalist or a National Achievement Finalist

Arkansas Scholarships Governor’s Distinguished (continued) - Governor’s Distinguished (continued) - Financial need NOT a factor Arkansas resident for at least 6 months Apply between January 1 and February 1 Up to 300 scholarships funded each year *Academic requirements for renewal

Federal Grants Federal Pell Grant Federal Pell Grant –EFC of 4860 ($4,860) or less –Ranges from $1,176 to $5,550 per year –Apply by submitting FAFSA Federal Supplemental Educational Opportunity Grant (SEOG) Federal Supplemental Educational Opportunity Grant (SEOG) –EFC of 2000 or less –$500 per year –Limited funding –Apply by submitting FAFSA

Federal Grants TEACH Grant TEACH Grant –Agree to teach in a “high-need” area –No Pell Grant requirement –Available for 3 academic years –$4,000 per year

Work Study Apply for federal Work Study Apply for federal Work Study by submitting FAFSA by submitting FAFSA Student seeks job on campus Student seeks job on campus Two rates of pay offered, based on need: Two rates of pay offered, based on need: 1. Federal Work Study is need-based (AR minimum $7.25* per hour) 2. Harding Work is NOT need-based ($6.16* per hour) * Effective 7/09

Award notification After FAFSA is processed, award letter is mailed After FAFSA is processed, award letter is mailed If “selected for verification”, required documents must be submitted If “selected for verification”, required documents must be submitted Tracking notice sent if any requirements are missing Tracking notice sent if any requirements are missing Revised award and tracking notices sent by Revised award and tracking notices sent by

Harding financial aid website For Fall 2012 enrollment, apply for federal financial aid beginning Jan. 1, 2012 ( For Fall 2012 enrollment, apply for federal financial aid beginning Jan. 1, 2012 ( –PIN for student and parent required ( –2011 tax returns for student and parent Explore scholarship options Explore scholarship options For comprehensive, up-to-date instructions and information go to For comprehensive, up-to-date instructions and information go to

Harding financial aid website — Use this site to get an early estimate of your eligibility for federal student aid. Plus, when you're ready to officially apply for aid, FAFSA4caster will transfer all of your data to the FAFSA on the Web application, making the experience of applying for federal student aid a lot easier for you. — Use this site to get an early estimate of your eligibility for federal student aid. Plus, when you're ready to officially apply for aid, FAFSA4caster will transfer all of your data to the FAFSA on the Web application, making the experience of applying for federal student aid a lot easier for you. – Allows students to compare colleges apples-to-apples. – Allows students to compare colleges apples-to-apples. Harding’s own Net Price Calculator – Harding’s own Net Price Calculator –

Harding payment plan 4 monthly installments each semester 4 monthly installments each semester $25 fee each semester $25 fee each semester No interest charged if enrolled in payment plan No interest charged if enrolled in payment plan For information call the Harding Business Office toll-free at For information call the Harding Business Office toll-free at

For questions or a copy of this PowerPoint Glenn Dillard Glenn

Enjoy your day at Harding University!