1. February 2019 Paying for College
Parent Coffee
February 2019
Paying for College

2. I got in to Penn State! Now how do I pay for it???? 35/23/2
Go anywhere you want, just no student debt.
Go for the gold! Everyone acquires student debt.
Go to NOVA and then transfer.
What are your goals?
What can you afford?
How many schools will
you apply?
We will pay for up to X amount. Anymore you are on your own.
You can go to any in-state school.
You play a sport, get a scholarship.

3. Agenda NEED BASED MERIT BASED EXTERNAL SCHOLARSHIPS & OTHER RESOURCES
Alphabet Soup of FEDERAL & STATE AID
MERIT BASED
SCHOOLS
Private and Public
Merit scholarships
Competitive
Special
NOVA
Sports
EXTERNAL SCHOLARSHIPS & OTHER RESOURCES
Overview of three main areas. Helpful hints and examples of various scholarships along the way.

4. FEDERAL & STATE AID

5. Alphabet Soup of Acronyms
COA
EFC
FAFSA
SAR
VTAG
VGAP

6. COA = Cost of Attendance
Tuition & Fees
Room & Board
Books & Supplies
Personal expenses
Transportation
4 Year
Private
Public In-state
Community
College
Tuition/Fees
$35,460
$11,118
$5,280
Room/Board
$11,000
$9,706
$4,726
Books/Supplies
$1,000
$1,016
$1,300
Travel
$700
$1,786
$3,870
Personal
$1,100
$2,378
$3,210
COA Budget
$49,260
$26,004
$18,386
(Provided by NOVA December 2018)

7. EFC = Expected Family Contribution
Based on:
Number of students in college
Health/medical bills
Income
Assets

8. Expected Family Contribution
*DEMONSTRATED NEED
COA
Cost of Attendance
EFC
Expected Family Contribution
Ex: $27,600 - $18,700 = $8,900
What % of demonstrated need is met?
*Directional

9. FAFSA = Free Application for Federal Student Aid
Input your financial situation and the colleges you are applying
You can create an account at any time
One for parent
One for student
October 1st – Application opens
Output is eligibility for:
Grants = Free money (Pell Grants max $5,500)
Student Loans = Borrowed money (payback with interest)
Work Study = Earned money
State Aid
Institutional Aid
CSS Profile – generally more highly selective
(UVA, Washington & Lee, VCU Med School)
Tip: Regardless of financial situation you should apply.

10. SAR = Student Aid Report
Output from your FAFSA input
Your EFC
Asterisk denotes verification required
Eligibility for Pell Grants & federal student loans
Information about the colleges you listed
Graduation rate (6 years)
Retention rate
Transfer rate
If wrong/incomplete, you can make changes
Use for scholarship submissions – proof of need
College sends out the financial aid award letter
Tip: You can negotiate with the Fin Aid Office

11. SCHOOLS

12. Public vs Private Schools
In-state matters for public schools only
Private school tuition is the same regardless of location
Private schools will offer significant scholarships (Ferrum, Mary Baldwin, Hollins University)
Virginia private schools;
VTAG = Virginia Tuition Assistance Grant - non need based, varies annually $2,800
Public or private Virginia schools;
VGAP – Virginia Guaranteed Assistance Program - need based, must have a 2.5 GPA or better out of high schools

13. Virginia Private College Week
VA private school week – late July, visit 3 schools, apply

14. SAT & ACT Scores Test optional Scores drive scholarships
Consider the ROI on test prep programs
Priority deadline does NOT equal ED, EA or Regular Decision
Be done with testing by September

15. Merit Scholarship Not all schools offer merit scholarships
Automatic based on test scores – no separate application
Competitive – application, compete against others with 1330 SAT (Auburn University, The Ohio State University)
School/program based – in addition to merit based
External scholarships - alumni
Competitive – apply EA then have a deadline for scholarships
Tip: Read those postcards that come in the mail.

16. College Websites - University of Alabama

17. College Websites: Kent State
Tip: Negotiate -
Show school
other offer

18. College Websites: Kent State
Tip: Negotiate -
Show school
other offer

19. US News & World Report Dec 2018

20. Special Scholarships Nominated by School Counselors - Seniors
Pamplin Leadership Award- VT
Thomas Jefferson Scholars - UVA
Promise Scholars – Richard Bland College
Junior Scholarships
High Point University - $10,000 over 4 years
Furman University - $80,000 over 4 years
Seton Hall University – Pirates Pitch for High School Students - $10,000 over 4 years
Google for National Scholarships
Regional Scholarships
U of Louisville - $10,000
Frostburg State University - $4,600
Shepherd University - $4K Metro Scholarship plus $5K academic scholarship

21. NOVA Complete the FAFSA Scholarship cycle Jan – Feb Apple Credit Union
Virginia Commonwealth Award
Grants to transfer to 4 year universities ($1,000)

22. Sports D1 & D2 = scholarships D3 = grants
Register via NCAA Eligibility Center
Restricted communications
D3 = grants
No restrictions
School website
Recruit Spot
Special talents – performing arts
Bulk of scholarship money comes from merit and not sports.

23. EXTERNAL SCHOLARSHIPS

24. Rock Ridge Website - Scholarships
Lcps.org/rockridge
School Counseling
College & Career Center
Scholarships
Scholarships
LCPS Scholarship & Financial Aid Handbook

25. Additional Resources Academic Common Market
State Council for Higher Education
Naviance
Collegeboard.org
College websites
College info sessions
Employer
Churches & civic organizations

26. THANK YOU!