WHAT IS FINANCIAL AID? Assistance to help families pay for college Intended to assist not replace family contribution

ESTIMATED EXPENSES FOR ONE YEAR OF COLLEGE Budget item Average annual range Tuition & Fees$3, ,391 Room & Board$ 4, ,145 Books & Supplies$ 1, ,650 Academic service fees $ Total$ 9,013 – 17,098

SOURCES OF FINANCIAL AID Federal - FAFSA forms should be filled out in January as soon as taxes are completed Institutional –Loans –Scholarships –Fee Waivers State –Oklahoma’s Promise- Students must sign up 8 th – 10 th grade

They are off to College How am I going to pay for it????

FEDERAL FINANCIAL AID Federal Pell Grants Stafford Loans PLUS Loans Federal Work Study Federal Perkins Loans

FAFSA - FEDERAL AID The Government puts together a “Financial Package” individualized for your family based on your tax returns and the college of your choice. You will have an EFC amount (Estimated Family Contribution) File your taxes as soon as possible and then complete the FAFSA form. (Shoot for January- the sooner the better!)

3 TYPES OF FINANICAL AID LOANS – ANYTHING YOU BORROW MUST BE PAID BACK GRANTS – FUNDING FROM GOVERNMENT, DO NOT HAVE TO PAY IT BACK SCHOLARSHIPS – ACADEMICS & ESSAYS – DO NOT HAVE TO PAY BACK

MONEY YOU DO NOT HAVE TO PAY BACK Gift Assistance Scholarships –State –Institutional –Private Grants –Institutional –State OTAG –Federal Pell

Scholarships Find scholarships through: –Counselor –Fastweb.com and scholarships.com –Universities –Parent’s work –Foundations –Companies

HIGH SCHOOL COUNSELOR MONEY FOR COLLEGE ALL LOCAL SCHOLARSHIPS AR LISTED HERE RESOURCES & LINKS TO OTHER SCHOLARSHIPS

SENIORS CREATE YOUR RESUMES CREATE A RESUME TO USE FOR SCHOLARSHIPS AND EMPLOYMENT

How do I win Scholarships? Apply on time Apply for as many as you can Include volunteer service as well as your academic accomplishments. Do the Essay Scholarships!!!

LOANS –Subsidized - The interest is paid by the federal government while the student is in school. You qualify for this based on your FAFSA application. –PERKINS LOANS- Government pays interest on these while you are in school. –Unsubsidized –All students can qualify. Interest accrues the entire time the student is attending college. Pay it back while you are in school

STUDENT SELF - HELP Employment –Federal work study through FAFSA –Institutional opportunities

Tribal Assistance Contact the individual Tribe to apply for scholarships that may be available.

TIPS FOR OBTAINING FINANCIAL AID Research Options –Apply for multiple funding sources Apply Early File Taxes Early File FAFSA Early Apply for scholarships and grants

INTERNET SITES TO RESEARCH COLLEGEBOARD.ORG FASTWEB.COM ACT.ORG SCHOLARSHIPS.COM FINAID.ORG FAFSA.ED.GOV