1. Chris George
Assistant Vice Chancellor for Enrollment
& Director of Financial Aid

2.  Financial fit & the value of obtaining a degree
 Be prepared
◦ Terms & Definitions
◦ Applications
◦ Types of Aid
 Scholarships
 Next Steps

3. Adam Looney and
Michael
Greenstone, the
Hamilton Project

4.  No, but excessive borrowing is!
 How much will your payment be?
◦ Loan Balance of $10,000
◦ 6.8% interest rate
◦ Standard 10 year Repayment Plan
A. $105
B. $115
C. $125
D. $135
 For every $10,000 in loan balance, you will pay $115 per
month for 10 years. $3,810 in interest

5.  Don’t borrow more than your first year salary
 What do teenagers think their salary will be? (Charles
Schwab - Teens & Money Survey 2011)
◦ $ 73,000 average expected starting salary
◦ $150,000 average expected salary once established in a
career
◦ $ 50,000 median household income in 2009 (US Census
Bureau)

6.  Welcome to the Financial Aid, I need the
following information:
◦ Salary
◦ Investments
◦ Cash, Savings, Checking balance
◦ Home Value
◦ Taxes Paid
◦ Tax Transcript from the IRS

7.  Colleges have varying deadlines
◦ Priority deadlines
◦ Ask what it means?
 Financial Aid Applications
 Scholarship Applications
 Terms
◦ Start developing a glossary
◦ www.collegeincolorado.org (Financial Aid Planning)

8.  Determines eligibility for
merit based aid
◦ Evaluate GPA
◦ ACT and/or SAT Scores
◦ Extracurricular Activities
◦ Leadership
◦ Community Service
◦ Teacher Recommendations

9.  Establishes the cost of attendance (Sticker Price)
 Evaluates family’s ability to pay by determining an expected
family contribution (EFC)
 Offers financial aid based on the cost of attendance and the
expected family contribution
 Distributes resources in an equitable manner
 Counsels families on financial issues

10.  Cost of Attendance
◦ Direct Costs
 Tuition and Fees
 Room & Board
◦ Indirect Costs
 Books & Supplies
 Transportation
 Personal Expenses

11.  Financial Need
Cost of Attendance
- Expected Family Contribution
Financial Need
◦ Need varies based on cost
◦ Most colleges are unable to meet 100% of
financial need with scholarship and grant aid

12.  FAFSA – Free Application for
Federal Student Aid
◦ Required to determine
eligibility for many
federal, state and institutional
aid programs which can
include
scholarships, grants, work
study and student loans
◦ www.fafsa.ed.gov

13.  CSS PROFILE – College Board
◦ Many private universities and scholarship
providers require the CSS PROFILE application to
determine financial eligibility for institutional
aid programs
◦ University of Denver, Daniels Fund, Colorado
College
◦ profileonline.collegeboard.com
◦ $25 Application Fee

14.  Tips for Completing Applications
◦ Meet Deadlines
◦ You can estimate information on both the FAFSA
and CSS PROFILE applications
◦ Reapply every year
◦ Ensure Social Security Number is correct
◦ Send applications to the correct institutions
◦ Ask questions if you are unsure

15.  Financial Aid Office & Website
◦ Webinars / Chats / Videos / FAQs
 Application Completion Events
◦ High School
◦ College Goal Sunday
◦ Financial Aid Office
 Department of Education
◦ @FAFSA
◦ http://studentaid.ed.gov

16.  Scholarships & Grants
◦ Need-based, merit-based, or a combination
 Federal & State Grants
◦ For lower income students & families
 Student Employment
◦ Students work on campus 10-20 hours a week
◦ Paid hourly wages
◦ Great way to gain valuable work experience
 Loans
◦ Direct Stafford, Parent PLUS, and private

17.  Civic Groups/Organizations (Rotary, Lions, etc…)
 Religious Organizations
 Corporations (Target, Coca Cola, Ford, etc….)
 www.fastweb.com or www.scholarships.com
 Facebook App: My College Dollars
 High School Counselor
 College or University Financial Aid Office Website

18.  Search and apply to scholarships as soon as
possible
 Answer all optional questions on scholarship
search sites
 Apply to every scholarship for which you are
eligible
◦ Scholarships for less than $1,000 often have
fewer applicants
 Persistence pays, skill and luck are involved
 Meet deadlines
Mark Kantrowitz: www.finaid.org

19.  Tailor your application to sponsor’s goals
 Clean up your online profile
◦ Perform a Google search on your name
◦ Review public profile on
Facebook, LinkedIn, Twitter, & YouTube
 Print, read and speak your essay to correct
spelling and grammar mistakes
 Use multiple FREE scholarship search sites
 If you have to pay to get money, it’s
probably a scam
Mark Kantrowitz: www.finaid.org

20.  Comparing Financial Aid Offers
◦ Grants and Scholarships
◦ Self-help Aid
 Work Study
 Direct Stafford Loans
◦ Additional Loan Resources
 Parent PLUS or Private Loans

21.  Make financial aid part of your college visits
 Do a bit of detective work!
◦ How does the college treat private scholarships?
◦ On average how much need does a college meet?
 Have Family Discussions
 Utilize Net Price Calculators
◦ Multi-year investment and costs
◦ Factor in tuition increases
 Inform colleges about special circumstances
 Investigate and apply for private scholarships

22. Chris George
Asst. Vice Chancellor for Enrollment &
Director of Financial Aid
@CGeorge_DU
303-871-4020
finaid@du.edu
A copy of the presentation is
available at:
http://duadmission.typepad.com/blog/