Presentation on theme: "Financial Aid Options #2 High School Financial Literacy #6."— Presentation transcript:
Financial Aid Options #2 High School Financial Literacy #6
Objectives Common Ways to Pay for College – Paying Colleges Directly – Financial Aid Grants Scholarships Work Study Loans Update Postsecondary Plan
Scholarship Video Watch the “How to Land a College Scholarship” video Pay close attention to Scholarship websites to investigate How you can become a strong scholarship candidate Scholarships for students attending a specific college: Example: University of North Dakota scholarship
Scholarship Video Main Points Investigate websites Fastweb.com, Naviance, College Board, Scholarships.com Apply to as many scholarships as possible Students who are strong scholarships candidates have A high GPA and test scores Diverse extracurricular activities Many colleges have their own scholarships
Scholarship Categories 1.College or University 2.Corporate 3.Cultural background 4.Foundations Women in Science 5.High academics 6. Regional 7. Religious affiliation 8. Special talents Sports Music 9. Unusual
Sample Types of Scholarships Academic African-American Asian Art Athletic Best Buy Business Cargill Computer Cosmetology College (ex: U of M) Fashion Design Female First Generation Hispanic Interracial Left-handed LGBT Marble Music Native American Nursing Parent’s Company Religious Skateboard State STEM Career Study Abroad Teaching Technical School Twins Vegan Vocational
Individual Activity Pick 3 Scholarships of Interest Academic African-American Asian Art Athletic Best Buy Business Cargill Computer Cosmetology College (ex: U of M) Fashion Design Female First Generation Hispanic Interracial Left-handed LGBT Marble Music Native American Nursing Parent’s Company Religious Skateboard State STEM Career Study Abroad Teaching Technical School Twins Vegan Vocational
Class Discussion What are your scholarships of interest? Why?
Loans Video Watch the “How Can I Get a College Loan” video Three types of loans Stafford Loans PLUS Private Loans
Loans Talk with your school counselor – Will help you with all different types of financial aid Complete the FAFSA: 1 st step in receiving aid 3 Common types of loans – Stafford 3.4 fixed interest rate (very low rate) – PLUS 7.9% rate (still low) used most often used by parents – Private (from banks or other lending firms) Usually highest interest rates, can get a good deal sometimes
Community College Video Watch the “Community College Can Save You Money” video“Community College Can Save You Money” – Hear the story on how attending a community college benefitted this student financially – Technical colleges also have the same financial benefits
Debate: 2 or 4 year College Split into 2 groups – Decide if you want to be in the 2 or 4 year college group Create arguments for the debate: Consider – Costs, Types of majors – Live on or off campus, Extracurricular activities – Close or far from home, Number of students in class
Keys to Financial Aid 1.Fill out your FAFSA 2.Talk to your school counselors – They know a lot about grants, scholarships, work studies 3.Save money for college 4.Know colleges have different financial aid packages – Community and technical colleges are often good options – Private colleges: May have high tuition but good financial aid packages 5. Know that there options that can keep your debt from college lower
Update Your Postsecondary Plan Sections – What am I doing now to prepare to pay for college? – What scholarships might I be eligible for in the future?
Review 1.What is the total types of scholarships? – A) Under 50 B) 50-100 C) Over 100 2.What is a type of college loan? – Stafford, PLUS, Private 3.Does a 2 or 4 year college usually cost more? – 4-year college