1. Applying for Financial Aid and What to Expect
Looking for financial aid to attend college is an annual process. Begin early and save your research information in a folder. Update the information at least once a semester.

2. Time is Money Get to know who you are:
Accountant, Nurse, Manager, Teacher
What Job do you see yourself doing?
Choose your Major that will land
you a great job!!
Do internships and volunteer:
Associations/Affiliations/Nonprofits all here!

3. Time is Money How many classes should I sign up for? 1 9 Plan time for
Work
Friends/activities
Family
and over Homework…
** You must get A’s and B’s ** 7 8

4. BUDGET Tuition & fees Books, supplies Room & board Transportation
Miscellaneous personal expenses

5. 2 year old Budget

6. Sources of Financial Aid
Federal Government
State Government
Educational Institutions
Private Sources

7. Financial Aid is like an umbrella of different programs
What is Financial Aid?
Financial Aid is like an umbrella of different programs
Grants
Loans
Scholarships
Work Study
College financial aid offices usually count in kind support such as free room and board, tuition remission for employees of the college, as well as all outside scholarships reported to or payable to the institution as part of a financial aid package to meet the cost of attendance.

8. Grants Money that does not have to be paid back
Usually awarded on the basis of financial need
Federal Pell Grant
Need-based grant for undergraduate students
Lifetime Eligibility Used: 6 years at full-time enrollment
Federal Supplemental Educational Opportunity Grant
Institutional Grants MC= BOT Grant(FSEOG)
For undergraduate students with exceptional financial need

9. Scholarships Money that does not have to be paid back
Awarded on the basis of merit, skill or unique characteristic
May also be awarded on basis of need

10. Loans
Money students and parents borrow to help pay postsecondary educational expenses
Repayment usually begins after education is completed or when enrollment falls below required enrollment status
Only borrow what is needed

11. Direct Loans Subsidized: Must demonstrate “need”-
GOVERNMENT pays the interest
Unsubsidized: Not based on “need”– YOU pay the interest
Must Be 6 credits
Interest changes July 1st
1% fee taken out
$3,500 for 1st year undergraduates
$4,500 for 2nd year undergraduates
+ $2,000 in unsubsidized loan 27

12. Employment Program provides students with employment
Earned while attending school
Employment assignment can be on or off campus
Money does not have to be repaid

13. Scholarships!!! Apply, apply, apply
Make a resume of everything you have done in your entire life!
Clubs, Organizations, Church, Affiliations, Volunteering, SSL hours
Apply, apply, apply
Coca Cola, Pepsi, Bayer, KFC, special high school scholarships, Foundation scholarships

14. Scholarships (Zombies)

15. MD Higher Ed Commission
There are many scholarship opportunities for residents of Maryland.

16. MD Higher Ed Commission

17. Maryland Legislative Scholarships Senatorial Scholarships
Award amount varies
Contact your Senator for application
Delegate Scholarships
Contact your Delegate for application
Contact your Senator or Delegate in January for instructions and applications

18. Private Sources of Student Aid
Private businesses
Political and advocacy organizations
Religious and social organizations
Parent and student’s place of employment
Foundations
Unions
Deadlines and application procedures vary widely
Begin researching private aid early!!!

19. Private Sources of Aid Scholarship Books Internet Scholarship Searches
Career Center
Public libraries
Internet Scholarship Searches
Provide a student profile
Receive scholarship information
Contact scholarship providers directly
Scholarship Websites

20. Scholarship Application Tips
Start your research early
Read eligibility requirements carefully
Organize scholarship materials and applications carefully
Deadlines
Letters of recommendation
Transcripts
Essays
Standardized test scores
Proofread applications carefully
Make copies of everything you send
Get your application in early

21. FAFSA on the Web fafsa.ed.gov 2019-2020 FAFSA on the Web available on
October 1, 2018

23. FSA ID
At least one parent of a dependent student and the student should obtain a PIN to sign the FAFSA electronically.

24. What Information do I need?
Social Security Number
Name
Date of Birth
Address
High School Name
Selective Service
Citizenship/Eligible Non Citizenship

25. What Information do I need?
Financial data for student (and parent):
Tax filing status
Adjusted gross income for 2017
Income earned from work
Receipt of benefits from certain federal means-tested programs
Additional financial information
Untaxed income
Assets

26. IRS DATA RETRIEVAL

27. IRS Data Retrieval

28. What is Expected Family Contribution (EFC)?
Index used to determine federal student aid eligibility
Calculated using data from a federal application form (FAFSA) and a federal methodology
Stays the same regardless of educational institution

29. Cost of Attendance Tuition & fees Books, supplies Room & board
Transportation
Miscellaneous personal expenses

30. Cost of Attendance (COA)
– Expected Family Contribution
= Financial Need
Basic formula used by colleges to distribute limited financial aid funds in an equitable manner.

31. How Do I Apply for Need-Based Aid?
1. It starts with the Free Application for Federal Student Aid (FAFSA)
2. Turn in your institutional documents.
3. Follow Up with your Financial Aid Advisor

32. Community College Promise Scholarship
The purpose of the program is to provide tuition assistance for student to attend community college in Maryland.

33. Community College Promise Scholarship
ELIGIBILITY REQUIREMENTS
To be eligible for the scholarship, students must:
Timely complete the FAFSA annually;  
Complete the supplemental application online through your MDCAPS account;
Sign the Service Obligation Agreement and Promissory Note;
Meet the eligibility requirements for in-state tuition;
Graduate from high school or earned a GED within the last two years;
Enroll as an undergraduate student in a vocational certificate, certificate, or an associate’s degree program at a community college in the State of Maryland;
Meet the requirement for graduation for your home instruction program, if you are a  homeschooled student;
Earn an overall high school grade point average (GPA) of at least a 2.3 or its equivalent;
Have an annual adjusted gross income of not more than $100,000 for single parent households and $150,000 for a two-parent household from the prior-prior tax year; Enroll in at least 12 credits per semester  

34. Community College Promise Scholarship
AWARD AMOUNT
The student is eligible for up to $5,000 annually after any other student financial aid has been applied to the student’s tuition and fees, with the exception of educational student loans.
SERVICE OBLIGATION REQUIREMENT
Award recipients must sign a service obligation agreement at the time of their initial award, agreeing to begin full-time employment in the State within one year after completion of the vocational certificate, certificate, or associate’s degree. The student must maintain employment in the State of Maryland for at least one year for each year that they received the scholarship.  
The scholarship will convert into a loan if:
The student fails to fulfill their service agreement by gaining employment in the State of Maryland within one year after completion of the vocational certificate, certificate, or associate’s degree; or
The student fails to earn a vocational certificate, certificate, or associate’s degree while receiving the scholarship.

35. Community College Promise Scholarship
RENEWAL REQUIREMENTS
The student can renew the scholarship for up to two years if the student:
Continues to enroll in a vocational certificate, certificate, or an associate’s degree at a Maryland Community College;
Continues to be eligible for in-state tuition;
Continues to enroll in at least 12 credits per semester;
Completes at least 24 credits annually during the year in which the student received the award;
Continues to maintain a cumulative grade point average of at least 2.5 annually;
Continues to maintain satisfactory academic progress as determined by the community college toward a vocational certificate, certificate, or an associate’s degree;
Continues to meet the income requirements; and
Continues to timely submit the FAFSA and supplemental application through MDCAPS

36. Important Dates The FAFSA is available in October 1st on the web
February 15 – deadline to complete and mail/transmit the FAFSA for the University of Maryland College Park
March 1-deadline to complete FAFSA for Maryland state scholarships and grants
March 1- MC priority deadline for Fall aid
June 1- Deadline for submitting MC Foundation Scholarship application

37. Thank you Any Questions????