MONEY FOR COLLEGE! An Overview of Federal and State Financial Aid Programs 1 Chesapeake College and The Maryland Higher Education Commission

Agenda  Understanding important steps to apply for “Money for College”  The types of financial assistance  The sources of financial assistance  How to apply for financial assistance  Cost of Attendance (COA)  State Aid Programs  Need-based and Legislative Scholarships  Career Based, Service Obligation and Loan Repayment Aid Programs  Unique Population Programs  Final Recommendations  Additional Resources and Information 2 Office of Student Financial Assistance

Types of Aid Grants Scholarships Loans Work-Study 3 Types and Sources of Assistance Sources of Aid Federal State Institution Private Office of Student Financial Assistance

4 How to Apply for Federal Financial Assistance Office of Student Financial Assistance

 Complete the Free Application for Federal Student Aid at  The student and one parent must apply for a PIN number at or within the FAFSA application  Research financial assistance program eligibility requirements.  Do not miss deadlines.  Complete all required forms to apply for financial assistance – starting with the Free Application for Federal Student Aid. Learn as much as you can about financial assistance opportunities. 5 How to Apply for Financial Assistance Office of Student Financial Assistance

 File the Free Application for Federal Student Aid – FAFSA each year starting the senior year of high school.  File on-line at  Complete all items.  Remember – “Free” - do not pay to have the application completed.  Parents and students must apply for a P.I.N. to sign FAFSA electronically.  Submit by MARCH 1 each year! 6 Office of Student Financial Assistance How to Apply for Financial Assistance

 Use a street address, not a P.O. Box.  Include a Maryland institution on the FAFSA.  Student’s and parent’s name entered on the FAFSA should be the same as on the Social Security card. t 7 Don’t Forget when filling out the FAFSA Office of Student Financial Assistance

8 What happens now? Office of Student Financial Assistance  After the FAFSA is filed you will be send a Student Aid Report (SAR) via , if you provided one  Review the SAR carefully to ensure all information is correct  Make corrections as necessary and submit electronically  Your SAR will provide your Expected Family Contribution (EFC)  Your EFC combined with your college cost of attendance (COA) determines your eligibility for Federal Pell Grant and other need-based grants, including State aid

9 What is an EFC? Office of Student Financial Assistance  This figure is calculated by a formula that looks at income, number of family members, number in college, and assets in some cases.  The Expected Family Contribution is not actual money you will have to pay.  The EFC determines your eligibility for all need based aid.  Need is relative to the cost of the school.

10 Cost of Attendance (COA) Office of Student Financial Assistance  Tuition and fees  Room and board  Books and supplies COA  Transportation  Personal expenses

COA minus EFC minus Pell (if eligible) = Financial Need 11 Calculation of Financial Need Office of Student Financial Assistance Example: COA$10,500 EFC -2,500 _____________________ Need $8,000

12 Federal Aid Programs Office of Student Financial Assistance  Pell Grant – largest federal need based grant program. EFC less than 5001; Maximum award $5645 (EFC of 0) – these are FY 2013 figures.  Supplemental Grant (SEOG) – must be Pell eligible. Maximum award $4000  Teach Grant –Teacher Education Assistance for College and Higher Education grant is for students who intend to teach full-time in high-need subject areas for at least four years at schools that serve students from low-income families. Maximum award is $4000.  Federal Work Study – part-time job on campus, may offset tuition at some colleges.  Federal Direct Loans – fixed rate, currently at 3.86% (both sub & unsub; this amount may go to 6.8%). Payments begin 6 months after enrollment ceases.  Federal Plus Loan – parent loan, based on credit worthiness, fixed rate, currently at 6.4%.

13 Office of Student Financial Assistance State Financial Assistance

Maryland College Aid Processing System (MDCAPS)  The State of Maryland financial aid system.  You must create a Student Login Profile and then click the activation link in the message sent to your account that was provided to use MDCAPS.  To create a profile, log onto  The MDCAPS account can be created at anytime. 14 How to Apply for State Financial Assistance Office of Student Financial Assistance

15 How to Apply for State Financial Assistance

16 MDCAPS Student Portal

 Need-Based  Howard P. Rawlings  Educational Assistance Grant  Guaranteed Access Grant  Legislative  Senatorial Scholarships  Delegate Scholarships 17 Understanding the Types of Maryland State Aid Office of Student Financial Assistance

 New and renewal students must file the FAFSA by March 1 each year.  Office of Student Financial Assistance (OSFA) will electronically receive the FAFSA information  Students must demonstrate financial need. (Students with the greatest need and lowest EFC are awarded first)  Students must enroll as full-time, degree-seeking undergraduates at a 2-year or 4-year college or university in Maryland.  Parents and students must be Maryland residents. 18 Howard P. Rawlings Educational Assistance Grant: up to $3,000 annually Office of Student Financial Assistance

 Apply as a high school senior – once out of high school you cannot apply.  Must submit a Guaranteed Access Grant application and FAFSA.  Minimum 2.5 cumulative, unweighted high school GPA.  Must complete a college preparatory program.  Students must have a high-school diploma.  Students must enroll as full-time, degree-seeking undergraduates at a 2-year or 4-year college or university in Maryland.  Parents and students must be Maryland residents. 19 Howard P. Rawlings Guaranteed Access Grant: up to $16,100 annually Office of Student Financial Assistance

 All students may apply: High school seniors Undergraduate students Graduate students Career or technical school students  May be used for: Full-time or part-time enrollment Maryland residents only Mostly Maryland institutions (may be used out of state in rare circumstances). 20 Legislative Scholarships (Senatorial and Delegate) Office of Student Financial Assistance

 File FAFSA by March 1.  Demonstrate financial need.  Some awards are renewable for an additional three years.  Contact Senator for application and renewal procedures. Note: Senators have the option to award; some do not select recipients but put their funds into other programs administered by OSFA. 21 Senatorial Scholarship: $400 and up annually Office of Student Financial Assistance

 Contact Delegate for application procedure.  Must apply each year for an award; they are not renewable.  FAFSA may not be required. Note: Delegates have the option to award; some do not select recipients but put their funds into other programs administered by OSFA. 22 Delegate Scholarship: $200 and up annually Office of Student Financial Assistance

23 Unique Major Office of Student Financial Assistance  Funds awarded for the Senatorial and Delegate scholarships may be used at an out-of-state institution if the student’s academic program is not offered at a Maryland institution  Review MHEC website under Financial Aid Applications, Senatorial and Delegate Scholarship programs, for more information on how to apply

24 Academic Common Market Office of Student Financial Assistance  A consortium of 16 southern states that allow non-residents to enroll in specific degree programs at in-state tuition rates, if an academic program is not offered in the student’s home state  Applications are available from MHEC and high school guidance office

Charles W. Riley Fire and Emergency Medical Services Tuition Reimbursement Program  Active career or volunteer firefighters, ambulance or rescue squad members  Must serve a Maryland community while enrolled in college courses and continue to serve for another year after courses are complete  Must attend a Maryland institution and enroll in a degree or certificate program in either fire service technology or emergency medical technology  Must be a Maryland resident  Receive the actual dollar amount of tuition charges that have been paid; amount of the award may not exceed the equivalent annual tuition of a resident undergraduate student at the four-year public institution within the University System of Maryland, other than the University of Maryland University College and University of Maryland, Baltimore 25 Career Based, Service Obligation and Loan Repayment Aid Office of Student Financial Assistance

Workforce Shortage Student Assistance Grant Program  For students who plan on working in specific career/occupational programs upon graduation. Eligible fields include: child care, human services, teaching, nursing, physical and occupational therapy, social work, and public service.  Current high school seniors, full-time and part-time, degree-seeking undergraduate and graduate students enrolled in an eligible accredited Maryland postsecondary institution.  File the WSSAG application by July 1 with MHEC, FAFSA not required however it will be used to determine the order in which students will be awarded; also submit official transcripts from all previous institutions  Award amount up to $4000 (full time, four year institution) $2000 (part time, four year institution) ; $2000 (full time, two year institution) $1000 (part time, two year institution) 26 Career Based, Service Obligation and Loan Repayment Aid Office of Student Financial Assistance

Edward T. Conroy Memorial Award  Current high school seniors, full-time and part-time, degree-seeking undergraduates and graduate students.  You must be a Maryland resident to apply, with the exception of a spouse, son or daughter of a Maryland State or local public safety employee killed in the line of duty.  You must enroll at a two-year or four-year Maryland college or university, as a full-time or part-time, degree- seeking undergraduate or graduate student or attend a private career school. 27 Unique Population Aid Office of Student Financial Assistance

Edward T. Conroy Memorial Award  You must be:  the son or daughter of a member of the United States Armed Forces who died as a result of military service or who suffered a service connected 100 percent permanent disability as result of military service  a veteran who suffers a service-connected disability of 25 percent or greater, as a result of military service, and has exhausted or is no longer eligible for federal veterans’ educational benefits  the son, daughter, or surviving spouse of a victim of the September 11, 2001 terrorist attacks who died as a result of the attacks on the World Trade Center in New York City, the attack on the Pentagon in Virginia, or the crash of United Airlines Flight 93 in Pennsylvania  a POW/MIA of the Vietnam Conflict or his/her son or daughter; the son, daughter or surviving spouse (who has not remarried) of a state or local public safety employee or volunteer who died in the line of duty or who was 100 percent disabled in the line of duty  or a state or local public safety employee or volunteer who was 100 percent disabled in the line of duty 28 Unique Population Aid Office of Student Financial Assistance

Veterans of Afghanistan and Iraq Conflicts Scholarship  For United States Armed Forces personnel who served in the Afghanistan or Iraq Conflicts, and their sons, daughters, or spouses who are current high school seniors, and full-time or part-time, degree-seeking undergraduate students enrolled in an eligible accredited Maryland postsecondary institution.  Submit the VAIC application and FAFSA, by March 1 along with required documents  List of required documents found MHEC’s website 29 Unique Population Aid Office of Student Financial Assistance

30 Unique Population Aid Office of Student Financial Assistance Tuition Waiver for Foster Care Recipients  Students who resided in an out of home placement in Maryland: On their 13 th birthday and were then adopted from the out of home placement after their 13 th birthday; or At the time they graduated high school or earned a GED  Attend a public college in Maryland  File the FAFSA every year no later than March 1 st  Must enroll as a degree-seeking student before age 21  Be sure to discuss with the financial aid officer at the college or university  List of eligible students is sent to the public colleges and universities Contact social worker if not on the list

31 Lets Talk Numbers CollegeTuition, Fees, Room & Board BooksPellSEOGStatePrivate Scholarship LoanOut of Pocket Expense Towson University $19,004$1,100$4,095$800$3,000$500$3,500$8,209 Salisbury University $17,868$1,100$4,095$800$3,000$500$3,500$7,073 Chesapeake College $4,100$1,100$4,095$100$800$500$0$-295 **2013/2014 figures: Based on EFC of 1501, Including meal plans, not including additional fees. CC does not include R&B

32 Need more Money?  Research college and private scholarships now  Understand application process and deadlines  Submit materials on time  Make sure letters of references are timely and with substance  Fastweb is a private scholarship search engine with more than 600,000 scholarship database at  Guidance counselor is your best resource for local private scholarships.

 Complete and submit the FAFSA each year starting the senior year of high school before the March 1 deadline.  Apply early for Maryland State Aid  Know deadlines at the colleges and universities of your choice.  Complete all required forms to apply for financial assistance.  Apply for as many grants and scholarships as possible.  Remember parent(s) and student must be Maryland residents for State of Maryland awards.  Seek advice from the financial aid office at the college of your choice! 33 Final Recommendations Office of Student Financial Assistance

Financial Aid Office Laura Shahan Specialist & MD State Scholarship Coordinator Dawn Smith Specialist & Work-Study Coordinator Mindy Schaffer Director Shaunda Lane-Sampson Assistant Director ext