How to Pay for College Financial Aid Options

Types of Aid O Grants O Don’t pay back O Scholarships O Don’t pay back O Student & Parent Loans O Pay back O Student employment O Tax credits

Cost of CSU At HomeOn CampusOff Campus Fees $6,698 Books/Sup p $1,719 Room/Boar d $4,532$12,080$12,089 Trans $1,345$1,169$1,391 Personal $1,364 TOTAL $15,658$23,030$23,261

Sticker Shock O Total price of college attendance O Don’t close a door because of the “sticker price” O Look at “net price” O Wait and see the cost after the entire financial aid package has been applied O Examples O UOP was less than CSU Monterey O UC Santa Cruz was less than Stanislaus State

Grants O FAFSA O Federal money O Fill it out no matter what O Apply now for FSA ID O Serves as legal signature O Cal Grant O California money O Must turn in GPA form by 2/27/15 O Must also complete FAFSA by 3/2/15

Middle Class Scholarship O California state scholarship O UC/CSU specific O New this year O Income up to $150,000 O Must file FAFSA & Cal Grant O Meet 3/2 deadline O Pays 10-20% of tuition this year O Pays 10-40% of tuition next year

Specific Circumstances O Veterans Benefits O DREAM act O CHAFEE grant O EOPS O BOG fee waiver O UC university grant O CSU state university grant

Financial Aid Facts O 77% of CSU students received some type of aid last year O 60% of all undergraduates have full cost of tuition and fees covered by grants, scholarships, or waivers O 100% of students who don’t apply will not receive financial aid

Loans O Federal Student Loans O Federal Parent Loans O Other Parent Loans

Other Types of Aid O Federal Work Study O Student-held job O Tax Credits O Lifetime Learning Credit O American Opportunity Tax Credit

Scholarships Sometimes feel like this! So work smart…

?? Question ?? If you had the opportunity to work for 1 to 2 hours, and possibly make $250 to $2000, would you do it even if it wasn’t a guarantee?

What are Scholarships? Free $$ Usually one time payments Awarded for – Academic Achievements – Athletic Achievements – Extracurricular Achievements – Areas of study

Why Apply? A shocking number of scholarships go unawarded!! Its free $$, only time typically involved Scholarships often feed into MORE scholarships – Gets your name out there – Can list on resume or mention in essay

Where to look? High school counselors or district websites University Financial Aid offices & websites Individual departments or colleges Ie, “College of Business” “Department of Math and Science” Regional online scholarships Organizations – Extracurricular – Religious & cultural associations – Community organizations – Hobbies – Parent’ employer/company – Professional associations related to field of study

How to Apply (or be ready to) May have a short window of opportunity, so do some prep in advance!

Complete FAFSA Many scholarships will only be awarded to students who have also completed FAFSA. Just because you are/are not eligible for financial aid doesn’t eliminate from scholarships

Essay Write a broad, adaptable biographical essay Highlights – History – School achievements – Activities including community service – Passions, interests – Plans for future study and career Make your “voice” heard in the essay Have one or two adults then help you edit The Important Part Save this essay and adapt to fit specific scholarships, ie an emphasis on career plans, or community involvement etc.

Letters of Recommendation Many want one or more letters from a non- related adult Good letters = Second look Diverse, not just teachers People who you have relationships with Ask in advance for open (non-addressed) letters to keep on hand Tailor specific requests for big, or important, scholarships No last minute! Don’t overuse one source

Resume Create a basic resume – Jobs – Volunteer work – Organizations involved with – Awards/Recognition – References (not same as letter of rec.)

Portfolio Great for interviews Samples of writing Copies of resume & letters of recommend. Photos of work/activities & community service Awards, certificates of merit

Final Tips Get rid of nonprofessional or voic – what if an interview s or calls? Keep trying, and keep improving writing skills Look frequently for opportunities – winter and spring especially!