1. The Financial Aid Process
Academic Magnet High School Financial Aid Presentation
Presenter: Erica Harrison-Jones

2. General duties of the financial aid office
Determines eligibility for Federal, State, and Institutional financial aid
Completes the federal verification process
Exercises professional judgment for special circumstances
Provides guidance to students and parents regarding financial aid programs and processes

3. The various forms of financial aid
Scholarships (Institutional and Outside)
Grants (Federal, State, and Institutional)
Employment Opportunities
Loans (both Parental and Student)

4. State Scholarships and Grants

5. Enhancement for LIFE/Palmetto Fellows
State Scholarships
SC Palmetto Fellows
SC LIFE Scholarship
SC HOPE Scholarship
Enhancement for LIFE/Palmetto Fellows

6. State Scholarship - General Eligibility
Be a South Carolina Resident*
Be a U.S. citizen or permanent resident
Be enrolled as a first time degree-seeking student at an eligible SC public or private institution
Certify that student has not been convicted of any felonies and has not been convicted of any second alcohol or drug- related misdemeanor within the past academic year.
Verify that student does not owe a refund or repayment on any Federal or State aid
Must be a SC resident at the time of graduation and initial college enrollment.

7. Palmetto Fellows $6,700 1st year, $7,500 next 3 years
3.5 HS GPA, 1200 SAT/27 ACT and rank in top 6%,
or if school does not rank; 4.0 HS GPA, 1400 SAT/32 ACT
Requires nomination by the high school guidance counselor during senior year
Renewal:
3.0 Institution GPA and
30 Hours each year, does not include AP, dual-enrollment, etc.

8. LIFE Scholarship up to $5,000 for 4 years
At 4 year colleges, must meet 2 of the following 3:
3.0 HS GPA, 1100 SAT / 24 ACT, top 30% of class
Renewal:
3.0 LIFE GPA, includes all college course from any school
30 Hours cumulative average per year, includes AP, dual-enrollment, etc.
i.e. 30 hours after 1st year, 60 after 2nd year, 90 after 3rd year

9. HOPE Scholarship $2,800 for 1st year only
At 4 year colleges: 3.0 HS GPA
Not renewable, but student can become LIFE eligible

10. Enhancement additional $2,500 2nd - 4th years
Majoring in math or science fields– please review the institution’s eligible majors. Varies by institution.
Must be receiving Palmetto Fellows or LIFE
Take 14 hours of math and/or natural science by end of 1st year (can include AP/IB, dual enrollment courses)

11. SC Tuition Grants Up to $2,600
Available at private colleges in SC
2.0 HS GPA or 900 SAT / 19 ACT or top 75%
Complete FAFSA and have financial need
Renewable

12. SC Need Based Grant Up to $2500 annually
Available at SC public institutions
Awarded to students that display financial need
Requires the submission of a FAFSA to be considered (priority deadline)
Can be awarded up to 8 semesters

13. Institutional Scholarships

14. Outside/Private Scholarships $200 to $20,000+
Corporate scholarships: Wal-Mart, Target, Coca-Cola, NUCOR, GE-Reagan Foundation, Buick Achievers, Ronald McDonald House, etc….
Private Foundations: Gates Millennium Foundation, I’m First, Strom Thurmond Foundation, C.G. Fuller, Coastal Community Foundation
Civic organization scholarships: PTA, Elks Club, Exchange Club
Local Scholarships: N. Edgar Miles, Sirrine (Greenville County), Watson-Brown (specific counties in SC and GA)

15. Finding Outside Scholarships
High School Guidance Counselors
Specialized scholarship search engines
Schoolsoup.com, Fastweb.com, Scholarships.com
College websites
Parents’ employers
Any organizations that you participate in: church, sports, clubs, fraternal societies, etc.
Google, Yahoo! or other search engines
Start early, work diligently, apply to as many as possible
Avoid paying for scholarship search

16. Federal Financial Aid

17. Who should complete the FAFSA???

18. Quick Facts about FAFSA
Should be completed regardless of whether you think you qualify or not
Used to determine grant and loan eligibility (EFC)
Priority deadline in place (varies by institution)
Must be completed to borrow funding from the federal government
Must be completed every academic year
Becomes available around January 1st
Professional judgment may be applied for extenuating circumstances
Eligibility is based on previous year’s tax data
IRS Data Retrieval Tool (voluntary but highly recommended)

19. Before making an admissions decision
Research the costs associated with the schools in which you have been accepted
Cost of attendance
Comparison of the full aid package available from each school
Be mindful of acceptance deadlines and how to accept the awards that you have been offered
Utilize the net price calculator

20. Net Price Calculator
Federal Mandate of all colleges
Starts today

21. Helpful Tips to Remember
Adhere to scholarship deadlines (using a calendar to keep up with dates)
Be sure to complete the FAFSA early!!
Be sure to retain copies of all documents submitted for scholarships
Be sure to check your /junk folder regularly for award notifications

22. Thank you!!