Paying for college

Money For College

Financial Aid Terms COA – cost of attendance; varies by institution FAFSA – Free Application for Federal Student Aid (www.fafsa.gov) FSA ID – usernames/passwords created by student AND parent to electronically sign the FAFSA EFC – expected family contribution; number derived from the FAFSA and used to determine need based aid eligibility Grant – free money based on need Loan – money borrowed that must be paid back with interest Scholarship – free money awarded on the basis of merit, skill, or unique characteristic Work study – money received from on campus employment Verification – random “audit” of FAFSA

Other Information Academic Common Market CSS Profile Fee Discount Program

Foster Youth HOPE Foster Grant (14+) TN Bright Futures (16+) Chafee ETV Scholarship A foster child is defined as one who was in the custody of the Tennessee Department of Children’s Services (see TSAC info) *In addition to meeting the minimum HOPE and HOPE Access Grant eligibility requirements, a student shall present the Corporation with official certification from the Department of Children’s Services that the student meets the eligibility requirement for the HOPE Foster Child Tuition Grant. Tennessee Bright Futures State-Funded Scholarship Who is eligible? Current or former foster youth that were in care on or after the age of 16 but have not yet reached the age of 24. - AND - Youth that were in foster care in the state of Tennessee. The Chafee ETV Scholarship Current or former foster youth. Youth must have been in foster care until the age of 18 - OR - Youth that were adopted from foster care at or after the age of 16 but have not yet reached the age of 21.

University of Tennessee Vanderbilt University STEP UP Scholarship IDEAL Program Lipscomb University Union EDGE Program Union University TigerLIFE University of Memphis UT Future University of Tennessee Next Steps Vanderbilt University The Tennessee STEP UP Scholarship is a program designed to assist students with intellectual disabilities who have completed high school and enroll in an individualized program of study of up to four (4) years at an eligible postsecondary institution. Application deadlines: September 1 for Fall; February 1 for Spring; May 1 for Summer

TSAC Brochure

TSAC Brochure

HOPE Scholarship HOPE Scholarship GAMS Aspire Award $1,500/$1,750 per semester 21 ACT/SAT OR 3.0 GPA* GAMS $500 per semester 29 ACT/SAT & 3.75 GPA* Aspire Award $250/$750 per semester Parents AGI <=$36,000 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

State Aid continued HOPE Access Wilder- Naifeh TSAA $875/$1,250 per semester 18-20 ACT & 2.75-2.99 GPA* & AGI<$36K Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT TSAA $1,000 – $4,000 per academic year 0 – 2,100 EFC February 1 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

HOPE/GAMS/Access GPA HOPE GPA (4.0 scale) = most districts’ unweighted GPA Per State Board of Education policy, HOPE Scholarship GPA “shall be reported on the student’s transcript as the HOPE Scholarship GPA” Slide 10 – inserted the GPA slide to, once again, make sure everyone is aware the HOPE/GAMS/Access GPA must adhere to the uniform grading policy (most districts’ unweighted GPA).  Moreover, per State Board of Education policy, the HOPE GPA “shall be reported on the student’s transcript as the HOPE Scholarship GPA.”  MNPS and Shelby County’s transcripts already comply with such language appearing on their transcripts, but I believe most districts are unaware of this policy.

TSAC Student Portal www.tn.gov/tsacstudentportal

TSAC Student Portal Students should review their state aid institution…

TSAC Brochure

TN Promise Checklist Apply to the Tennessee Promise program at www.TNPromise.gov by November 1, 2018 (TSAC is working toward compatibility with all browsers) Complete 2019-20 FAFSA at www.FAFSA.gov by February 1, 2019 Attend spring mandatory meeting as coordinated by partnering organization Complete 8 hours of community service between November 2, 2018 – July 1, 2019

TN Promise (Semester) Examples A B C Tuition $2,250 -$3,250 -$1,500 $0 HOPE/Pell/TSAA -$3,250 -$1,500 $0 Gap $750 TN Promise $0 Tuition $750 $0 $2,250 $0

50+ available majors with Pathways www.tntransferpathway.org Outline of required courses to follow Start at any of 13 TN community colleges All TN public universities & 21 private universities accept Pathways Guaranteed transfer of credits Combine with TN Promise to save half the cost of your bachelor’s degree

2019-20 FAFSA Available October 1, 2018 Complete website redesign

Ineligibility A student will NOT qualify for federal or state aid if he or she has… Been granted Deferred Action for Childhood Arrivals (DACA) A F1 or F2 student visa A J1 or J2 exchange visitor visa A G series visa (pertaining to international organizations)

tnedequity.org

Dependency ?s 24 or older? Married? Master’s or Doctorate? U.S. Armed Forces? Veteran? Children/dependent receiving ½ their support from you? Since you turned 13, were both parents deceased, foster care, or ward of the court? Emancipated? Legal guardianship? Unaccompanied youth who was homeless?

Who is My Parent The following people are NOT your parents unless they have legally adopted you… Widowed Stepparent Grandparents Foster Parents Legal Guardians Older Brothers or Sisters Aunts or Uncles

FAFSA Investments Include Do NOT Include Rental property Trust funds Money market funds Mutual funds Certificates of deposit Stocks Stock options 529 college savings plans UTMA/UGMA accounts Do NOT Include Primary place of residence 401[k] plans Pension funds Annuities Non-education IRAs

Dependency Status Results Log in to the FAFSA- Help for parents: Only students may use their FSA ID to log in. Parents and others can start a FAFSA for a student by entering the student's identifiers. Parents and others can also work on a FAFSA form or correction the student started using the Save Key that the student made.

See..filling out the FAFSA is easy!

Federal Aid Pell FSEOG Work Study $652 - $6,095 (2018-19) $652 - $6,095 (2018-19) 0 – 5486 EFC Need based (2018-19) FSEOG $100 - $4,000 Exceptional financial need Work Study Amount Varies Typically paid to student

Student Loan Debt

Federal Aid Subsidized Stafford Unsubsidized Stafford Parent PLUS 5.05% fixed (2018-19) Interest does not accrue initially Unsubsidized Stafford Interest does accrue Parent PLUS 7.6% fixed (2018-19)

Federal Loan Limits

Senior Year Checklist Fall Semester Spring Semester Take and retake the ACT/SAT Apply to several colleges (admissions, institutional aid, etc) and utilize their net price calculators Student AND parent will create FSA IDs (fsaid.ed.gov) to... Complete 2019-20 FAFSA available October 1, 2018 Spring Semester Complete local/private scholarship applications Review college acceptances, compare financial aid packages, ask questions, and follow up as needed

TN Reconnect Checklist Complete the TN Reconnect application at www.TNReconnect.gov. Apply to community college, TCAT, or eligible TN Reconnect institution. Submit the 2018-19 FAFSA at www.FAFSA.gov (deadline varies). Enroll in a degree or certificate program at least part-time (6+ hours).

Need Help?

THANK YOU

Outreach Division