1. Paying For College College
Who, What, When, Where and How?

2. Four Ways to Pay for College
Grants – Money that is given to you
Scholarships – Money that is given to you because of academic achievement, talent, skill or financial need
Work – Money you earn from a job on or off campus
Loans – Money you borrow and must repay
Winning the lottery or a rich uncle are the easiest ways but not available
to most of us. If you have a college savings fund, savings bonds use them,
after you get any free money.
This is the order of preference.
Free money first, then the money you have to work for and then, if it is
necessary the money that has to be repaid.

3. Free Application for Federal Student Aid (FAFSA)
Looks at total Household size
How many are in college?
Total assets are considered in calculation
Can send to 10 colleges/universities
FREE
A form of need analysis
Determines the Expected Family Contribution (EFC)
Use ALL 2016 income (taxed and untaxed)
Provide both student and parent(s) income
Help is available online and by phone at Fed-Aid ( )
Do your taxes early, will need the info to complete, don’t need to file taxes
but must complete prior to trying to complete this form.
Not fully decided on which college no problem list up to the six most likely
if you decide on a different one it can be added later
Best of all it is free. Do Not Pay someone to help you complete this form.

4. Whose information is provided on the FAFSA?
Student’s income and asset information
Parent income and assets….
Dependency questions
Biological/adoptive parent(s)
Information from legal guardians is not acceptable
Divorced/separated parents?
Information from parent with whom student lives
If parent has remarried, step-parent info must be reported

5. Electronic Applications
Available October 1
Apply online
Apply for a FSA ID (both student and at least one parent)
College Scorecard
Add a school
Paper applications are available but the process is slower, and much more prone to error, the online version catches most of the mistakes we make.
Your college or guidance office has the paper forms if needed.
Save this PIN you will need it for years to come.

6. Help is Available FREE www.sccango.org SC College Goal
October and November ??
Locations across South Carolina
Financial aid professionals
Computer access

7. Cost of Attendance (COA)
FAFSA Results
Student Aid Report (SAR)
3-5 days after processing – via and at
To you and all the schools you listed on the FAFSA
Expected Family Contribution (EFC)
Cost of Attendance (COA)
NEED
Award Letter

8. Unusual Circumstances
Professional Judgment
Special Circumstances
Change in parent’s marital status
Loss of income or significant reduction
Death of a parent
Forms and processes are designed for the ‘average person’ but of course
there is no ‘average person’. If you think you situation needs special attention,
if the information you are providing is correct for last year but will not
provide an accurate picture of the future, lost a job, serious family illness,
death of a parent, etc. This is where you need to talk to the
Financial Aid Officer.

9. Federal Pell Grant Must file FAFSA Based on Need
Up to $5,920 ( )
Award based on enrollment status, FT, PT or Less than half-time
Undergraduate study only
Maximum of 12 semesters
The basic building block, everything starts with Pell.
Money is sent directly to the school and applied against fees owed.

10. Federal Supplemental Education Opportunity Grant (FSEOG)
Up to $4,000 a year (Depending on school)
Must file FAFSA and receive Pell Grant
Based on need
Limited funds – not at all schools
This is for the neediest and the amount varies depending on the school
being attended.
You don’t have to do anything extra, when you file the FAFSA your eligibility
for this and Pell will be determined. Your school will tell you if you qualify
and how much you will receive.

11. Iraq and Afghanistan Service Grant
Parent or guardian was a member of US armed forces and died as a result of service in Iraq or Afghanistan after 9/11
Maximum award, same as Pell Grant- for $5,920.
Must complete the FAFSA and not be eligible for a Pell Grant

12. TEACH Grant
Teacher Education Assistance for College and Higher Education (TEACH) Grant Program
Maximum Award:
up to $4,000 per year
Eligibility Criteria:
enrolled in an eligible program, and
agree to teach
in a critical subject,
in a critical geographical area,
for at least four years within eight years of completing the program for which the TEACH Grant was awarded.

13. TEACH Grant
Failure to teach requires repayment under terms of an unsubsidized Direct Loan.
How to apply:
Check with the financial aid office at your institution for availability and application procedures
May not show on award letter unless you ask

14. Scholarships Never Pay for a Scholarship or for a Scholarship Search
Never buy anything based on the promise of a scholarship
Never believe anything that says, “Millions of Dollars of Unused Scholarships”
Scholarship scams are everywhere. Beware
If you need insurance buy insurance, but don’t buy it based on the
promise of financial aid in the future.
The ‘unused scholarship’ urban legend continues to persist. There probably
are a few scholarships that aren’t used but they are every specific, and weird
like hula dancers from Alaska that want to study ancient languages at a
specific college.
Scholarship search engines will help you determine if you are eligible for
one of these weird scholarships or something else.

15. Scholarship Search Engines
Fast Web
Scholarships.com
Good Call
We give away $1000 each month, just visit the web site.
Students and parents can enter, visit once and you are signed up for
the entire year
There are lots of search engines, these are totally free and search huge data bases.
Check them out and apply for anything and everything you might qualify for.

16. 1K Giveaway
Coming Soon
$1,000 each month awarded in the form of a scholarship
Random monthly drawing
SC High School Seniors and their Parents can participate
Visit to register

17. State Programs in SC Palmetto Fellows Scholarship
Palmetto Life Scholarship
Hope Scholarship
Lottery Tuition Assistance
Need-Based Grant
Administered by SC Commission on Higher Education
CHE’s web site has all the details but the main points are as follow.

18. General Eligibility Criteria for All State Programs
Be a South Carolina resident at time of high school graduation and college enrollment;
Be a U.S. citizen or a permanent resident (green card);
Be enrolled as a degree-seeking student at an eligible South Carolina public or private institution;
Certify that he/she has never been convicted of any felonies and has not been convicted of any alcohol or other drug-related misdemeanor convictions within the past academic year (excluding Lottery Tuition Assistance Program);
State programs can only be used at schools inside SC public or private
LTAP is always a little different and will look at it later.

19. General Eligibility - Continued
Verify that he/she does not owe a refund or repayment on any Federal or State financial aid and not be in default on any Federal loans
Award Amounts:
Cannot exceed the cost-of-attendance (excluding Lottery Tuition Assistance, which can only be used toward the cost-of-tuition); and
Half awarded during the fall and half during the spring (LTAP may be awarded during the summer).
Generally can receive funds from only one program during an academic year
Combination of all aid can never exceed cost of education;
COE is tuition, fees, books, living expenses, transportation, everything it costs
to survive a year at college, the school determines this
Almost all awards are semester specific, half each semester.

20. Palmetto Fellows Scholarship
Available for attendance at four year institutions in South Carolina
Maximum Award
$6,700 during Freshman year
$7,500 per year for Sophomore through Senior years
Must apply during Senior year of high school
Deadline for early applications is December 15
Deadline for final applications is June 15
Guidance Counselors will help with the application process
This is the premier scholarship for the most academically talented.

21. Palmetto Fellows Scholarship
Initial Eligibility criteria:
Top 6% of class,
1200 or higher SAT (math and critical reading), 27 or higher ACT, and
3.50 cumulative GPR on Uniform Grading Scale OR
1400 or higher SAT (math and critical reading), 32 or higher ACT, and
4.00 cumulative GPR on Uniform Grading Scale
Continued Eligibility criteria:
3.0 GPA or greater and at least an average
of 30 credit hours per academic year.

22. LIFE Scholarship
Available for attendance at a two or four year institution in South Carolina.
Maximum Award – at a Four Year institution:
Up to $5,000 per year
Maximum Award – at a Two Year or Technical School:
Up to Cost of tuition + $300 book allowance
This is the big one that came about with lottery proceeds.
Can not double dip, Palmetto Fellow and Life
If don’t qualify as an entering freshman, can earn it by making a 3.0 GPA

23. LIFE Scholarship Initial Eligibility requirements at a 4 year school:
Any two of these three:
3.0 or higher cumulative GPA
Top 30% of high school class
1100+ SAT (math and critical reading), or 24+ ACT
Initial Eligibility requirements at a 2 year school:

24. LIFE Scholarship Continued Eligibility Requirements:
3.0 GPA or greater and at least an average of 30 credit hours per academic year.
Can earn the LIFE Scholarship while in college

25. Palmetto Fellows and LIFE Scholarship Enhanced Awards
Maximum Award:
$2,500 per year beginning in the Sophomore year
Eligibility Criteria:
Declare a major in Mathematics, Science or Health related fields *
Have earned at least 14 credit hours of math or science courses* during the Freshman year (including AP courses taken during High School).
*A complete list of eligible majors and courses can be found on the SC Commission on Higher Education’s website,

26. SC Hope Scholarship
Freshman year only at four year institutions in South Carolina
Maximum Award:
Up to $2,800 towards the cost of attendance
Eligibility Requirements:
3.0 GPA at time of high school graduation
If not quite eligible for the Life the Hope may help. This is a one year only
scholarship, after the first year you must make a 3.0 to qualify for the
Life or no more help.

27. Lottery Tuition Assistance (LTAP)
Available for students attending SC Technical Colleges, USC Regional Campuses and Spartanburg Methodist College
Maximum Award:
$100 per credit hour, up to $1,200 per semester for full-time attendance (This amount changes slightly each semester)
Eligibility Criteria:
Must file the FAFSA
Must be degree seeking and enrolled in a minimum of 6 credits
No grade requirements just have to be in a degree seeking program.
Money can change but the idea is to help with the direct cost of college.
You child didn’t take schools seriously, grades not so great. Financially t
his may be the best option. Go to a two year school for a year or two make
sure this is the right thing get the LTAP to help with direct cost, get the 3.0
GPA and the Life then transfer if needed.

28. SC Teaching Fellows Program
To recruit talented high school seniors into the teaching profession and help them develop leadership qualities.
Up to $6,000 per year of a maximum of four years
Obtain information and an application at:
Application deadlines
2017 graduates - December 1, 2016
2018 graduates – Approximately December 1, 2017
(Exact date not yet available – check website)

29. SC Need-Based Grant Maximum Award: Eligibility Criteria:
Up to $2,500 annually if enrolled full-time and up to $1,250 annually if enrolled part-time for a maximum of eight full-time equivalent terms.
College determines the exact award amount
Eligibility Criteria:
Must file the FAFSA form
Must be needy based on the results of the FAFSA (consistent with Pell Grant eligibility)
Extra money if your need is great
Automatically done when complete the FAFSA

30. SC Tuition Grant
Need-Based Grant Program available to Eligible SC Residents attending SC Independent Colleges on a Full-time Basis
Freshman Academic Eligibility Criteria
Top 75% of senior class, OR
SAT score of 900 (math and critical reading) or higher, OR
ACT score of 19 or higher, OR
Final High School GPA of 2.0 or higher on SC Uniform Grading System
Independent colleges = Private colleges
Only SC residents
Any one of the tree criteia

31. SC Tuition Grants Students must file FAFSA annually
Annual Application Deadline – June 30
Maximum award - $3,200
Tentative Award notifications via
for more information
This is an electronic process by completing the FAFSA and listing a private
college the information will automatically go Tuition Grants. You do not
have to make any other application.
Their web site gives lot more details and should be visited if considering
a private college.

32. SC Independent (Private) Colleges and Universities
Allen University - Columbia
Anderson University – Anderson
Benedict College - Columbia
Bob Jones University - Greenville
Charleston Southern University - Charleston
Claflin University - Orangeburg
Coker College - Hartsville
Columbia College - Columbia
Columbia International University - Columbia
Converse College - Spartanburg
Erskine College - Due West
You can learn more about all of these independent colleges at their web sites.
This link has all the independent colleges

33. SC Independent (Private) Colleges and Universities
Furman University - Greenville
Limestone College - Gaffney
Morris College - Sumter
Newberry College - Newberry
North Greenville University - Tigerville
Presbyterian College - Clinton
Southern Wesleyan University - Central
Spartanburg Methodist College - Spartanburg
Voorhees College - Denmark
Wofford College – Spartanburg

34. Federal College Work-Study
Must file FAFSA
Based on need
Limited funds
Students work up to 20 hours/week - earn a paycheck
Usually on campus
Studies have shown that students working on campus for less than 20 hours
per week actually do better academically than those that don’t work at all.
Statistics also show that working more than 20 hours per week, or working
off campus has a detrimental effect on academics.

35. Other Employment Institutional Employment Does not require FAFSA
Depends on the workforce needs of the school
Cooperative Education
Student alternates semesters of coursework with semesters of full-time employment in a field related to major

36. Federal Direct Stafford Loan Program
Loans Made to the Student
Unsubsidized Loan
Must file FAFSA
Not need-based
Interest NOT paid but deferred while in school
6 month grace period prior to repayment
Interest rate: 4.45% fixed
Loan fee: 1.069%
Subsidized Loan
Must file FAFSA
Need-Based Loan
Interest paid by government while in school
6 month grace period prior to repayment
Interest rate: 4.45% fixed
Loan fee: 1.069%
I’ll take the subsidized!
Sub vs. Unsub is determined by the FAFSA process
On unsub you have the choice of paying the interest as it accrues or waiting
till out of school and paying everything back then.
Grace period is a time to allow newly graduated to get on their feet financially
before having to start making payments.
Annual Maximums:
Sophomore: $3500
Junior & Senior : $5500
Graduate: $8500
Teacher cancellation - $5000 low income school, $17,500 if math, science or
special ed at a low income school – must teach five full consecutive years to
Qaualify.
Loan Limits are based on grade level: Freshman is $5500 combined between Subsidized and Unsubsidized

37. Federal Direct Stafford Loan
Forgiveness for Teachers
Five years of teaching service at a low income school anywhere in United States
$5,000 in forgiveness
Math, Science and Special Education teachers - $17,500 in forgiveness
Public Service
120 on time payments, remaining balance is forgiven
To Apply
Your school will provide instructions in the award letter.

38. SC Teachers Loan Program
SC Residents Only
Education Majors
FAFSA not required
Graduate in top 40% of high school class, and
SAT score of 987 (math and reading) or 1458 (math, reading and writing) or ACT score of 18
Loan Limits are based on grade level: Freshman $2,500
Loan forgiveness if teach in critical geographic area and/or subject in South Carolina
60% of the state is a critical geographic area
Critical subjects for 2005/06 are:
AGRICULTURE ART
BUSINESS EDUCATION DANCE
ENGLISH/LANGUAGE ARTS FAMILY/CONSUMER SCIENCE
FRENCH GERMAN
GUIDANCE INDUSTRIAL TECHNOLOGY
LATIN MATH
MEDIA SPECIALIST MUSIC
SCIENCE (ALL AREAS) SPANISH
SPECIAL EDUCATION (ALL AREAS)
SPEECH AND DRAMA, THEATER

39. Federal Direct PLUS Loan
Loan Made to the Parent of an Undergraduate Student
Approval based on creditworthiness (standards relaxed)
FAFSA normally not required (some schools may require)
Loan limits based on ability to pay, can not exceed ‘cost of attendance’
Payments begin 60 days after final disbursement of the loan or 6 months after the student exits school
Interest rate: 7.0% fixed, unsubsidized
Fees: %
Your school will provide instructions on how to apply in the award letter
Credit worthiness : no defaulted educational loans,
If you can not qualify we can award unsubsidized money in the students
name, up to :
$4000 freshman and sophomore
$5000 Junior and senior
$10,000 graduates

40. Palmetto Assistance Loan (PAL)
SC Student Loan’s Private Loan Alternative to Federal Direct PLUS Loans
Students and/or Parents can borrow (students under 24 must have cosigner)
Fixed interest rate as low as 3.99%
No Fees
.25% interest rate reduction for Automatic Bank Draft

41. Financial Basics for High School
Free On-Line Courses
Renting an Apartment
Protecting your Financial Identity
Borrowing and Credit
Paying for College
Buying a Car
Insurance
Compound Interest
Many More Topics
Win $500 Scholarship

42. Contact Information
South Carolina
Mike Fox
Ext. 5070
scstudentloan.org
Student Loan