Presentation on theme: "College Bound Scholarship Webinar (Presented October 11, 2011) Updated February 1, 2012 Please email us so we may send you updates Name School/organization."— Presentation transcript:
College Bound Scholarship Webinar (Presented October 11, 2011) Updated February 1, 2012 Please email us so we may send you updates Name School/organization Email address To: email@example.com
College Bound Scholarship Webinar October 11, 2011 Overview of Program Financial Aid 101 CB Scholarship payouts Resources Beth Ahlstrom, College Bound Scholarship Program Administrator360-596-4808 Vicki Merkel, Associate Director of Student Financial Assistance360-753-7853 Rachelle Sharpe, Director of Student Financial Assistance360-753-7872
The College Bound Scholarship offers an early promise of financial aid to qualifying 7 th and 8 th graders in Washington. College Bound is essentially an early commitment of an enhanced State Need Grant award. This scholarship combines with State Need Grant to cover tuition (at public college rates), plus a small book allowance. The program was created in 2007 for the purpose of improving high school graduation and college enrollment rates for students from low-income families. There are nearly 16,000 College Bound applicants in their senior year
The Class of 2012 Who are they? First College Bound cohort to graduate high school and apply to college. Approximately 16,000 (57% of eligible students) in the 2012 cohort. These students are from 630 middle schools. 56% are students of color. 46% male; 54% are female.
Based on 11,675 matched records from OSPI for the class of 2012 College Bound Students by Ethnicity Class of 2012
FAFSA Free Application for Federal Student Aid The FAFSA is the primary form for all government aid. All colleges require the FAFSA. Don’t wait until taxes are filed – estimate and make corrections later. Colleges may require additional documents & have other deadlines. Re-apply every year. Never pay to fill out the FAFSA – it’s free. Don’t wait until admitted to college to file the FAFSA. College Bound Students May file as early as January 1. Encouraged to file by Feb. 1 but may continue to file. Message to students: “File today – don’t delay!” www.FAFSA.gov
Continued streamlining of the online application. Families can have their tax information retrieved from the IRS. They can also submit the FAFSA prior to completion of taxes and revise later. IRS Data Retrieval tool is available in English and Spanish. Students and parents can begin retrieving 2011 IRS data at the end of January 2012. New High School questions: school name, city, and state. FAFSA News
Calculated from data submitted on student’s FAFSA using a federal formula. Represents the amount a family can reasonably be expected to contribute. Stays the same regardless of college. Two components – Parent Contribution – Student Contribution Expected Family Contribution (EFC)
Cost of Attendance (COA) 1. Tuition and fees 2. Books and supplies 3. Room and board – living expenses 4. Transportation 5. Personal expenses/miscellaneous Includes all educational expenses Varies from campus to campus
Need Varies Among Schools 2010-11 Community College Public 4-Year Private 4-Year Typical COA $15,800$20,200$42,700 EFC $3,100 Financial Need $12,700$17,100$39,600 COA – EFC = Need
COLLEGE BOUND CHECKLIST To receive the scholarship, you must: Have a complete application on file at HECB. File the FAFSA as soon as possible - you can file Jan.1! Graduate high school with a 2.0 or higher. Be a good citizen with no felony convictions. Enroll within one year of high school graduation in one of the 67eligible institutions in Washington. Be a U.S. citizen or eligible non-citizen. Resources for undocumented students Good, now you are ready to move on down the road.
Student’s FAFSA Record The Department of Education will send the FAFSA application data to the colleges listed on the student’s FAFSA and to the HECB. HECB will match the student’s FAFSA report with the College Bound application and notify the student via email* if we are successful. HECB will then send a list of College Bound students to the colleges listed on the student’s FAFSA. If students don’t hear from the HECB within 2 weeks of submitting the FAFSA, they should call us: 1-888-535-0747 * notification will be to the email listed on student’s FAFSA
The College Bound award may consist of State Need Grant, College Bound and other state aid. State Need Grant is the largest state financial aid program. College Bound was designed to coordinate with State Need Grant to cover the maximum award. The maximum award is based on tuition (at public institution rates), fees and a book allowance. The student’s campus award letter will describe specific award amounts. COLLEGE BOUND AWARD 3
Resources FAFSA and general financial aid information: www.fafsa.gov College Bound information www.collegebound.wa.gov Washington State financial aid programs: www.hecb.wa.gov theWashBoard.org: for Washington scholarships www.thewashboard.org Resources for undocumented students www.hecb.wa.gov/PreparingForCollege/CollegeBound/2012 Resources for counselors Washington is College Bound Resources for students I am College Bound EduBlog
Why Students May Not Receive College Bound Funds Family’s income does not meet the income standard (65% Median Family Income - $53,000 for a family of 4 in 2011-12). Student’s total financial aid is greater than their financial “need.” Students do not enroll full-time.
Initial allocation of $7.4 million in 2007 – Invested in GET and expected to be valued at $12 million in 2012 – Anticipated to cover first two years of payouts Future appropriations can be made each fiscal year as with other financial aid programs. 2011 Legislature tasked the Caseload Forecast Council with projecting College Bound enrollments for budget purposes. A Washington Opportunity Pathway College Bound Funding
Other College Bound Rules Students have one year from high school graduation to enroll. College Bound is a four-year scholarship (12 quarters or 8 semesters maximum). Scholarship must be used within five years of graduation. Enrollment does not have to be continuous. Students may enroll part-time. Students must maintain Satisfactory Academic Progress (SAP).
Support in High Schools Monitor College Bound students to ensure they meet GPA requirements and are on track to graduate. – Ask HECB for a list of your College Bound students Use resources for seniors posted on HECB web site – Preparing for College- College Bound
Student Resources Post links on school’s website http://www.hecb.wa.gov/PreparingForCollege/CollegeBound/2012 Facebook: I am College Bound Our new blog: collegeboundwa.edublogs.org
Search for More Funds Successful January 2010 launch; more than $40 million offered via theWashBoard.org since its inception. Nearly 70,000 scholarship seekers and 200 providers are registered. Lists more than 600 scholarships. In 2010-11, $28 million in scholarships offered. Continues to grow and develop for the benefit of Washington’s students - version 2.0 in development now. 27
You Are Not Alone College Success Foundation www.collegesuccessfoundation.orgwww.collegesuccessfoundation.org NELA Center for Student Success www.nela.netwww.nela.net Washington College Access Network Regional partnerships Tacoma College Support Network Seattle College Access Network North Central Community Foundation, Wenatchee Community Center for Education Results Alliance for Education GEAR UP Many more… Ways they can help Assistance with financial aid nights FAFSA completion College Goal Sunday www.collegegoalsundaywa.orgwww.collegegoalsundaywa.org
Want to know more? FAFSA and general financial aid information: www.fafsa.gov Washington State financial aid programs: www.hecb.wa.gov Questions & suggestions? Email firstname.lastname@example.org@hecb.wa.gov with WEBINAR in the subject line.