Post-Secondary & Financial Planning 12th Grade PEP Post-Secondary & Financial Planning

Overview Introduce first step in the financial aid process: completing the Federal Application for Student Aid Review scholarship data and learn tips for winning scholarships Review scholarship lists and document your scholarship research in Naviance Understand the admission process and complete at least 1 college application Take the college quiz to see what you know

How much will college cost?

But wait… It’s not the same for everyone. It depends on your financial need. The Net Price Calculator will help you estimate what college will cost you and your family. Watch video to learn more: http://www.youtube.com/watch?v=uxPYCv-l_ok http://netpricecalc.challenge.gov/submissions/5959-worry-about-more-important-things (better link, but isn’t currently working)

Let’s see an example Click link: http://collegerealitycheck.com/colleges/compare/ Select a college (e.g. Colorado College, Metro State, & University of Colorado Denver) Select your family income range (e.g. income is $0 – 30,000) Are the prices more or less than you thought?

Where is the Financial Aid? Government: Grants Work Study Loans College, private companies, foundations: Scholarships

FAFSA Play DSF video on completing the FAFSA http://www.youtube.com/watch?v=xgJ2kIHFhvQ&feature=relmfu Cannot apply for FAFSA until January 1st, 2013, but try to apply early because money is awarded on a first come first serve basis. What can you do now to get ready? Encourage your parents to file their taxes early. Visit www.fafsa4caster.ed.gov to complete a trial application, visit www.pin.ed.gov to apply for your PIN #, and visit www.fafsa.gov to get familiar with the website. Begin collecting information you will need: SSN, B-date, driver’s license, W-2 forms, tax returns, savings account info, stocks and bonds. Continue exploring colleges and select your top 10 schools. You must list your college on the FAFSA in order to receive an award letter from the college once you are accepted.

FAFSA Refer to top half of page 15 on student handout.

Why is the FAFSA important? Students who: Result: Completed FAFSA 90% of students enrolled in post-secondary education within 12 months of graduating No FAFSA 45% of students enrolled in post-secondary education within 12 months of graduating In your table groups discuss the graph and answer the following questions on the back of the T/F quiz: What do those numbers tell us? Why do you think?

FAFSA & DSF College Cost (tuition, fees, room, board, books, etc.) Completing the FAFSA will determine your Expected Family Contribution (EFC). College Cost (tuition, fees, room, board, books, etc.) Expected Family Contribution Financial Need This information is used by colleges to determine your financial aid package award. Likewise, it is also used by DSF and other need-based scholarships to determine eligibility and the amount awarded. Awards (grants, loans, work study, scholarships) Unmet need

Undocumented Students & the FAFSA Students who lack proper legal documentation are not eligible for federal aid under the Illegal Immigration Reform and Immigrant Responsibility Act (IIRIRA) of 1996 sec 505. However, all students should still complete the FAFSA in order to demonstrate financial need for purposes of scholarships and school aid.

Apply for scholarships! In addition to FAFSA What else can students do to help reduce their unmet need and help pay for college? Apply for scholarships! Unmet need Scholarship $ What you pay

Who wins Scholarships? According to Cindy Nguyen, admissions counselor at Metro, 10% of the students apply for 90% of the scholarships. Of students enrolled full-time at a 4-year college, 14.3% get enough grants to cover 50% or more of their total Cost of Attendance (tuition, roam and board, books, etc.) Of students winning scholarships, one-third receive more than $2,500. 0.3% get enough grants to cover the full COA 1.0% get enough grants to cover 90% or more of the COA 3.4% get enough grants to cover 75% or more of the COA 14.3% get enough grants to cover 50% or more of the COA More students at 4-year colleges win scholarships (8.3% vs. 2.6%) Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

More scholarships awarded for some majors Percentage Winning Average Award Math/Statistics 23.2% $4,059 Engineering 17.6% $3,075 Physical Sciences 17.1% $3,180 Life Sciences 16.9% $2,649 Education 15.0% $2,420 Health 14.8% $2,880 Social Sciences 12.7% $3,063 Humanities 12.5% $2,623 Computer Science 11.1% $2,974 Business 9.1% $2,828 STEM fields are more likely to win scholarships than non-STEM fields. Of students enrolled full-time at 4-year colleges, 17.0% of STEM win scholarships vs. 12.1% of students in non-STEM fields. These statistics are for students enrolled full-time at a 4-year college and seeking a Bachelor’s degree in the specified major. Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

More Students with Good Grades Win Cumulative Grade Point Average (GPA) on a 4.0 Scale High School GPA (% Winning Scholarships) 0.0-1.9 (D- to C) 5.7% 2.0-2.4 (C to B-) 7.1% 2.5-2.9 (B- to B) 9.5% 3.0-3.4 (B to A-) 10.7% 3.5-4.0 (A- to A) 18.7% College GPS 0-1.9 = 7%, 2-2.4 = 9.1%, 2.5-2.9 = 10.7%, 3-3.4 = 13.1%, 3.5-4 = 18.8% But you can still win even if your grades aren’t stellar. Every scholarship sponsor is looking for the students who best match their criteria. Instead of academic talent, they might be looking for artistic talent or athletic talent or even something a bit unusual. One of Mark’s favorite unusual scholarships involves making a prom costume out of duct tape. That may seem gray and boring, but duct tape comes in many colors. The winners are incredibly creative and make amazing costumes. It’s a nice way of winning $5,000 each for you and your date. Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

Better Test Scores Mean More Awards SAT Combined Score Probability of Winning a Scholarship < 700 2.6% 700 to 800 4.2% 800 to 900 5.4% 900 to 1000 5.8% 1000 to 1100 7.4% 1100 to 1200 8.5% 1200 to 1300 11.2% 1300 to 1400 13.2% ACT Composite Score Probability of Winning a Scholarship < 15 2.6% 15-17 4.7% 18-20 5.6% 21-23 7.3% 24-26 8.3% 27-29 11.1% 30-36 14.2% Above average test scores twice as likely to win as below average test scores. Average SAT is about 1,000 and average ACT is about 21. SAT >= 1,000 (9.2%) twice as likely to win as SAT < 1,000 (3.8%) ACT >= 21 (9.0%) twice as likely to win as ACT < 21 (3.7%) Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

The Race Myth Race Percent of Recipients Percent Winning Average Award White 71.5% 14.4% $2,645 Black or African American 10.5% 11.4% $2,962 Hispanic or Latino 8.1% 9.1% $2,353 Asian 4.4% $3,170 American Indian or Alaska Native 1.4% 32.7% $3,967 More than One Race 3.4% 16.0% $4,891 All Minority Students 28.5% 11.2% $3,167 Minority students are less likely to win scholarships than white students enrolled full-time at 4-year colleges. White students are 61.8% of college population, but win 71.5% of the scholarships. Minority students are 38.2% of college population, but win 28.5% of the scholarships. This is probably not due to intentional discrimination, but rather because the sponsors of scholarships establish the scholarship programs based on their interests and values, and these criteria resonate more with students of the same race. For example, minority students are much less likely to pursue equestrian sports or water polo as Caucasian students and are more likely to major in business than in mathematics, science or economics. Geography may also have an impact. Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

Top Ten Most Unusual Scholarships Scholarship for Left-Handed Students Duck Brand Duct Tape Stuck at Prom Contest David Letterman Telecommunications Scholarship Zolp Scholarships Patrick Kerr Skateboard Scholarship Scholar Athlete Milk Mustache of the Year Award National Marbles Tournament Scholarships Klingon Language Institute Scholarship National Beef Ambassador Program Vegetarian Resource Group Scholarship

Strategies for Winning Scholarships It’s a numbers game Even among talented students, who wins involves a bit of luck, not just skill To win more scholarships, you need to apply to more scholarships, but only if you qualify You can’t win if you don’t apply One in four students never applies for financial aid The more you apply, the easier it gets Essays can be reused and tailored to each new application Don’t miss deadlines Use a scholarship tracker to help get organized and help prioritize your applications by deadline and award amount Use your calendar to note scholarship application deadlines It is very difficult for scholarship sponsors to choose between two extremely talented finalists for a scholarship, so the decision can often be arbitrary. Often there is no wrong choice for a winner. Skill gets you selected as a finalist, but the final choice of who wins may be purely random. So applying to more scholarships (for which you are qualified) will increase your chances of winning a scholarship. Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

Use a Scholarship Tracker Refer to page 16 of student handout. Have student use this form to record scholarships they research.

Searching for Scholarships Start searching as soon as possible (if you wait until spring to start searching, you will miss half the deadlines) Use a free online scholarship matching service Look for local scholarships on bulletin boards near the counseling office and/or the DSF office. Search the DSF website Search Naviance (Scholarship List” & “Scholarship Match tools) Use you Scholarship Tracker to keep track of scholarships you’re interested in applying to Many families wait until the spring of the senior year in high school, missing half of the deadlines. Give examples of scholarships for younger students: Jif PB&J, Spelling Bee, Geography Bee, art, writing, community service, national marbles tournament (mibsters). If a scholarship listing book is more than one or two years old, it is too old to be useful. About 10% of scholarships change in some material way each year, such as a change in address or eligibility requirements. One of the advantages of online scholarship databases is the ability to update the database more frequently than in a book. Fastweb’s database is updated daily and the site will send you email when there is a new scholarship that matches your profile. Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

Free scholarship matching websites www.finaid.org/scholarships www.finaid.org/websearch www.finaid.org/scholarshipscams www.fastweb.com www.ftc.gov/scholarshipscams www.finaid.org/taxbenefits www.irs.gov/pub/irs-pdf/p970.pdf

Scholarship Search (DSF) 1) Go to www.denverscholarship.org 2) Click “FOR STUDENTS” 3) Click “HIGH SCHOOL”

Scholarship Search (DSF) Click #4 “Apply for Scholarships” to search the scholarship directory

Naviance Scholarship Search Open a new tab and log-in to Naviance using the following Username and Password Student ID # mmddyy Click, “Log In”

Naviance 1) Click the colleges tab 2) Explore scholarship match and scholarship list

Click a category heading to sort by deadline, award amount, etc. Scholarship List Click a category heading to sort by deadline, award amount, etc.

Scholarship Match

Scholarships for Undocumented Students Scholarship A-Z for Undocumented Students - http://www.latinosincollege.com/payingsch/Scholarships_for_undocumented_students.pdf Latino College Dollars - http://www.latinocollegedollars.org/ Mexican American Legal Defense and Educational Fund http://www.maldef.org/assets/pdf/Scholarship_List_2010_2011.pdf BOCES Geneseo Migrant Center www.migrant.net/migrant/scholarships.htm Harvest of Hope Foundation - www.harvestofhope.net View your handout for an additional list of scholarships

Additional Resources Refer to the bottom half of page 15 of student handout for additional info about college financial planning and scholarship information.

Naviance ICAP Survey Click “about me” Click “My ICAP” survey Complete question # 33-34 and click You will get a chance to update this survey throughout the year

Admissions Checklist See page 4 - 5 of handout for checklist by month.

Admissions Steps (Fall) Research colleges and find your reach, match and safety schools. Attend college tours and college fair, etc. Schedule to take or re-take the ACT/SAT, if appropriate, and make sure your scores are sent to all college options Complete and submit applications prior to Winder Break Note: the sooner the better to increase your chances of being accepted and receiving aid (Nov 1 early deadline) Edit and finalize your college essays and submit on time Request letters of recommendation and submit on time If your college accepts it, submit a CSS/Financial Aid Profile at www.profileonline.collegeboard.com Review your transcript for accuracy Keep up your grades and verify that you are on-track to meet all graduation requirements Use college application tracker to keep track of application components and deadlines for each school If students ACT score is low, encourage them to sign up for developmental college courses in HS and to pass with C or higher. Also encourage them to begin studying for the Accuplacer assessment using study guide found at CCD. November 1st if early decision (binding) or early action

Naviance: Review & update your Personal Statement as needed 1) Click the about me tab 2) Click “dps draft of college Essay/personal statement” to edit and review. Use this as a starting point for both your scholarship and college application essays.

Recommendation Letter Request Form Refer to page 14 of student handout.

Apply Now Find and download an application for at least 1 college of interest. Research the application requirements and complete your college application tracker. Complete the college application. If letters of recommendation are required, begin filling out the request form to give to teachers.

Application Tracker Refer to page 12 of student handout

Admissions Steps (Spring) Submit your FAFSA as soon a possible after January 1st. Remember to complete CSS profile, especially if attending a private school and if ineligible to complete FAFSA. Attend a financial aid workshop to receive assistance. Check to see that colleges you applied to have received your application. Make sure colleges have received your midyear transcript, test scores, and financial aid information. Expect your student aid report (SAR) 4 weeks after you complete the FAFSA. If not, begin asking questions. Begin receiving admission decisions and financial aid award letters from colleges. Keep track of all acceptances, rejections, and waitlists. Decide which college you will attend. Pay the deposit, if required. Notify colleges if you will not be attending. Have your counselor send your final transcript. Take AP exams and CLEP tests, if applicable.

Other Scholarship & Application Tips Use a professional email address, such as firstname.lastname@gmail.com Clean up the content of your Facebook account, removing inappropriate and immature material Google your name to see what shows up Make a photocopy of your application before mailing it Send the application by certified mail, return receipt requested or with delivery confirmation If rejected, ask for the reviewer comments Just as you would want to present a professional appearance in a face-to-face interview, you need to have a professional appearance online. It can make a difference between winning and losing a scholarship. When you are asking someone for money, try to make a good impression. Scholarship sponsors are increasingly checking the online appearance of finalists to determine whether they demonstrate good judgment and will reflect well on the sponsor. Secrets to Winning a Scholarship by Mark Kantrowit, Publisher of Fastweb and FinAid, April 19, 2011.

College Quiz http://knowhow2go.org/freshmen_quiz.php