Paying for College Financial Aid Overview TG | Outreach and Awareness

You will: 1.Understand how to complete the Free Application Federal Student Aid (FAFSA) 2.Research and evaluate various scholarship opportunities 3.Analyze and compare student grant options 4.Analyze and compare student loan options 5.Research and evaluate various work-study program opportunities 6.Investigate nontraditional methods of paying for college or postsecondary education and training

General principles Generally, everyone qualifies for some form of financial aid Free assistance is available to help you apply

Benefits of higher education A college degree increases Chances for employment in a rewarding field Flexibility in the types of jobs for which you might qualify Likely earnings

Financial aid basics Financial Aid 101 Types of aid (FAFSA) Eligibility The application The process Other types of aid Resources

What is financial aid? Directly related to the FAFSA: Grants Work-study Loans Other types of financial aid: Scholarships Exemptions CONTINUE animating text graphics after layout

Types of aid Grants Work-study Loans

Types of aid Free money* Need-based Examples: – Pell Grant (federal) – TEXAS Grant (state) – Texas Equalization Grant (state) * except in cases where the student does not remain enrolled for that semester

Types of aid Students work to earn money Workers receive regular paycheck Jobs Are generally on campus Have flexible schedules Provide valuable experience

Types of aid Must be paid back Are available for students and parents Have low interest rates Provide various repayment terms

Basic eligibility criteria High school diploma or GED Enrolled in degree or certificate program Satisfactory academic progress U.S. citizen/national Eligible non-citizen Registered with Selective Service (for males) May qualify for Texas residency HB 1403/SB 1528 In-state tuition State financial aid Eligibility example Lived in Texas three years prior to graduation from a Texas high school Submit a FAFSA or TASFA College determines application Undocumented residents of Texas

The application Available at Type TASFA in search field Select correct academic year English and Spanish Accompanying instructions List of colleges Appendix A Texas Application for State Financial Aid

The application Online ( English and Spanish Federal State Institutional Free Application for Federal Student Aid *Complete as soon as possible after January 1 of senior year (and ensuing years)

The application Free Application for Federal Student Aid Students Social Security Number Completed IRS tax return W-2 Record of untaxed income Current bank statements Parents Completed IRS tax return W-2 Record of untaxed income Record of investments Current bank statements

The application Free Application for Federal Student Aid Use your Social Security Number to get a PIN for submitting the FAFSA electronically

The application FAFSA Your other option is to print the page and sign it Screen capture from fafsa site Free Application for Federal Student Aid Your other option is to print the page and sign it and mail it to the Department of Education

The process Graph/flow chart: Submit fafsa>U.S. Dept of Ed (calculates EFC) >Dept sends EFC to school and student >Schools determine need, SAR, send award letter to student> student accepts offer> school releases funds. SAR “Yes”

Award Letters

Federal Form for Award Letters

LISD Financial Aid Sundays 2 Community Locations: Click Here to go to LISD Financial Aid Website Available between PM (Plan on about an hour to complete the entire process) Feb. 8 - March 2 - HighPoint Fellowship (600 W. New Hope Dr., Cedar Park) MapMap Feb Hill Country Bible Church Austin (12124 Ranch Road 620 N, Austin; Bldg A, NW Lobby) MapMap Campus Dates and Times CPHSFeb pm; Mar 5 1-4pm LHS Library Feb PM & Mar PM RHSFeb pm; Mar 3 1-5pm Mar pm; Apr 2 1-5pm VRHSFeb 116-7:30pm; Feb 25 8am-4pm VHSFeb pm; Mar 25 8am-4pm

Other types of aid Examples – Highest ranking – Early high school graduation – Blind/deaf student – Out of district fees at community college – Adopted students formerly in foster care – Children of injured or deceased parents who served peace officers firefighters corrections officer U.S. Armed Forces

Exemptions Screen capture From college for all Texans exemption page xans.com/apps/financial aid/tofa.cfm?Kind=E xans.com/apps/financial aid/tofa.cfm?Kind=E

Types of scholarship opportunities – Merit Based – Need Based – Athletic – Academic Scholarships

Merit-based vs. Need-based Merit-based Academic or merit-based scholarships are awarded to recognize outstanding academic performance, talents and leadership abilities. Need-based Need-based scholarships are awarded to those who demonstrate financial need.

Athletic vs. Academic Athletics Traditional athletic scholarships are very competitive Scholarships offered by colleges will be run by the NCAA, NAIA or NJCAA Scholarships also available for athletes who plan not to make a career of a sport, but because they enjoy the game. Academics Scholarships awarded based on a student’s intended area of study Most common areas of study: education, health, science, technology Professional organizations or companies affiliated with majors offer scholarships to entice students into their field.

Additional Types of Scholarships By State Some of the most common and easy to find scholarships are state scholarships State scholarships are need-based & merit-based State scholarships pay particular attention to applicants pursuing certain high need fields. College For All Texans By “Other” Types Different types include scholarships based on: Ethnic background Medical disabilities (Cancer, Epilepsy, etc.) Community service Religious convictions Artistic abilities (art, film, dance, music) Environmental causes

College Funding: Scholarships Where to find scholarships – Check the Financial Aid Office of the school the student plans on attending – Check with Guidance Office & Mr. Parsons – Sign up with scholarship search sites like Scholarships.com

Naviance Where can I find Scholarships? Cont.

College Funding: Scholarships When to apply for scholarships? – Scholarships are offered year round – Best time to apply is NOW – Conduct a search regularly throughout the year to ensure you find recently added scholarships

College Funding: Scholarships When to apply for scholarships? – Large majority of scholarship deadlines are within the months of February-April

College Funding: Scholarships How to navigate the process 1.Get organized Pull together the information that may be needed for all scholarship applications – Academic Information (GPA, SAT/ACT scores) – Recommendation letters – College choices – Personal essay – Community/volunteer work

College Funding: Scholarships How to navigate the process 2.Create a list of eligible scholarships 3.Sort the scholarship list by deadline 4.Start applying – Be sure to read the directions, qualifications, and fine print carefully – Watch out for scholarship scams

Visit the Resource and Educators sections of Scholarships.com for more tips on how to fund a college education and free materials for financial aid nights. – Resources Link: – Educators Link: Questions & Answers

Resources

Need more information? Try: High school counselors Local colleges or universities Now go to the district CCR website to check out options for scholarships. Don’t forget to check out Naviance as well! t.aspx?name=dept.CCR.financial

TFAIC Texas Financial Aid Information Center Mondays – Thursdays 8:00 a.m. – 6:00 p.m. Fridays 8:00 a.m. – 5:00 p.m.

© 2012 Texas Guaranteed Student Loan Corporation To order additional copies, or to request permission to reproduce any of the information provided, please call TG Communications at (800) Thank you! (888) toll free