1. Class of 2019
Money for College

2. Students will: Learn what financial aid is
Learn the types and sources of financial aid
Identify terms associated with Financial Aid
Receive a listing of national and local scholarships from counselor
Explore other options to pay for college

3. What is Financial Aid?
Financial aid consists of funds (scholarships, grants, loans, work- study) provided to students and families to help pay for postsecondary educational expenses.

4. What is Cost of Attendance (COA)?
COA includes:
Tuition & Fees
Room & Board
Books & Supplies
Transportation
Personal Expenses
COA Varies widely from college to college

5. What is Expected Family Contribution (EFC)?
Amount family can reasonably be expected to contribute
Stays the same regardless of college
Two components
Parent contribution
Student contribution

6. What is Financial Need? – Expected Family Contribution
Cost of Attendance
– Expected Family Contribution
= Financial Need

7. Types of Financial Aid Loans- Must be paid back
Gift Aid- Don’t have to be paid back
Scholarships
Grants-Pell, State, and Federal Grants
Self-Help Aid
Employment-Work Study
Loans- Must be paid back

8. Scholarships
Biggest Myth: Only smart students with high ACT and GPAs get scholarships (NOT so!)
Scholarships are considered “gift aid” similar to grants
Most have specific requirements
Pay attention to Deadlines
Merit or Need Based
Some have restrictions on what they will pay
- Must be used for Direct Costs(books, fees, tuition, etc.); No cash back
- Enrollment restrictions-Part time/Full time students

9. NEVER PAY MONEY TO APPLY FOR SCHOLARSHIPS!!!
Scholarships(Cont.)
Renewable- can be awarded each year as long as requirements are met
Nonrenewable- One time scholarship
They come from multiple sources
- Institutions
- Organizations
Employers
There is no such thing as a complete list of scholarship
Counselor list given out today.
Use Google, Social Media(Twitter, Facebook, Instagram, Etc.)
DON’T BE SCAMMED!!!
NEVER PAY MONEY TO APPLY FOR SCHOLARSHIPS!!!

10. Tips to Getting Scholarships
Get an active . Check them
Clean up social media accounts. Google yourself and see what comes up
Set up appropriate voic
Create a resume for references
Always follow the directions on applications, essays, etc.
Watch deadlines!

11. Grants Pell Grants – Based on EFC Automatic with eligibility
Maximum annual amount is $6,095 for (equally disbursed each semester)
FSEOG
Supplemental grant for the neediest of students
Based on availability
TEACH Grant
For those planning to teach in high-need fields
Agreement to Serve
WIA Grant(Workforce Investment Act)
- Contact Jackson Career Center or Ms. Stabler
- Help pay for training in certain trades like welding,
some nursing programs, etc.

12. Now - How Do I GET Grants, WorkStudy?
FAFSA – FREE Application for Federal Student Aid
not
NEVER PAY MONEY TO APPLY!!!

13. FAFSA 2019-20 FAFSA available October 1, 2018
Most colleges set FAFSA priority filing deadlines
Some schools require all students to complete FAFSA even if they don’t qualify for grants
Upcoming FAFSA events for srs:
FAFSA Day: October 18th (Sign up for FSA IDs)
Application Days(Parents Invited too): Oct 18th (2nd and 3rd Blocks) and Oct 31st (1st and 4th blocks)
Chance to win great prizes for all seniors who complete FAFSA by Nov 13th. Must bring confirmation sheet to Ms. Stabler to be entered.

15. School Affiliated Employment aka Work-Study
Federal Work Study
Federal dollars paid in exchange for part-time employment in designated jobs
Remember that School comes first

16. Loans Should be a last resort
Choose the Right College by comparing how much your family can help you versus what it will cost to attend
Federal Direct Loans
Subsidized(Interest doesn’t
accumulate while in school)
Unsubsidized (Interest
Accumulates while in school)
Parent PLUS Loans

17. Keeping Your Financial Aid
MAKE SATISFACTORY PROGRESS
Time Frame
Grade Point Average/Dropping Courses
Pace
Once you lose your federal aid/pell grant, it is hard to get it back!

18. Other Options
National Guard
ROTC
Internships

19. Graduate College Debt Free
Make It Your goal!!!
Graduate College Debt Free