3. To help cover the cost of
tuition:
A yearly fee charged by the
academic institution
Tuition assists in
funding:
Staffing (Secretaries, Admin.
Assistants, etc.)
Faculty (Teachers, Counselors,
Social Workers, etc.)
Facilities (Custodial Staff)
Libraries
Computer Labs
Residence Halls
And more
4. Scholarships
Private sources
including corporations,
foundations, and
community based
organizations
Financial Aid
Grants
The Federal Government
& State (PELL & TAP)
Student Loan
Federal & Private
5. Is defined as - “funding
intended to help
students pay education
expenses, to include:
Tuition and fees,
Room and board
Books and supplies, etc.,
for education at a College
or University (public or
private).”
6. To apply for Financial
Aid:
Complete the free
application for federal
student aid (FAFSA) at
www.fafsa.ed.gov
All students must apply
for a PIN at
www.pin.ed.gov
This acts as your digital
signature
9. Are defined as “funds awarded
by the State and Federal
Government”
There are four types of Federal
Grants:
1) Federal Pell Grants
2) New York State Tuition
Assistance Program (TAP)
3) Federal Supplemental
Education Opportunity
Grants (FSEOG)
4) Teacher Education
Assistance for College
and Higher Education
(TEACH) Grant
10. Designed to help students
who demonstrate the greatest
financial need
Range from $1,176 - $5,550 per
year for full-time students
Based solely on financial
need
Once FAFSA is filled out,
students are eligible for Pell
No need to check an extra
box or fill out another form
For undergraduate students
only and may not exceed four
years of study
12. Campus-based aid
Given to students who
show the greatest need
Funding is awarded to the
Pell Grant students who
have the lowest EFC’s
Expected Family
Contribution
Once Pell-eligible students
receive FSEOG, all those
ineligible Pell students may
be eligible to receive grants
13. Up to $4,000 per year in grant assistance
Student serves at least 4 years as a full-time teacher in a public or
private elementary or secondary school serving low-income
families
To Apply:
Complete FAFSA
Students do not need to demonstrate financial need
Be a U.S. citizen or eligible non-citizen
Enrolled in an institution participating in the TEACH Grant
Program
Be enrolled in courses to become a teacher
Must maintain a certain GPA
Many require a 3.0 GPA
Sign a TEACH Grant to serve
Have eight calendar years to complete their 4 years of service
14. Are defined as “a fund
that is borrowed from a
financial institution that
is expected to be paid off
6 months after receiving
your undergraduate
diploma or your post-
graduate endeavors”
There are three types of
Federal education loans:
Stafford Loans
Plus Loans
Perkins Loan
15. 1) Subsidized -
a) Available for students with financial need
b) Interest is charged while the student is in school, being paid
by the Government, until graduation and repayment begins
2) Unsubsidized –
a) For students who do not qualify for subsidized loans
b) Typically need assistance beyond they maximum
subsidized loans offered
c) Begins accruing interest immediately
3) Private –
a) Similar to unsubsidized Federal loans
i. Should be a last resort
ii. Higher interest rates and shorter repayment periods than Federal
loans
16. • Federal Perkins Loans – low-interest (5%) loans for both
undergraduate and graduate students with exceptional financial
need.
• Subsidized Stafford Loans – awarded based on financial
need. A student will not be charged interest before beginning
repayment or during periods of deferment. The Federal
Government “subsidizes” the interest during these times.
• Unsubsidized Stafford Loan – are not awarded based on
financial need. Any eligible students can take out unsubsidized
Stafford Loans. A student will be charged interest from the
time the loan is distributed to the time the loan is repaid in full.
• Federal PLUS Loan – a loan borrowed by a parent on behalf
of a child to help pay for tuition and school related expenses at
an eligible college/university.
17. Are defined as “an award
of money for school
tuition, given by either a
public or private
corporation,
organization, or college”
There are 5 types of
scholarships:
Merit-Based
Need-Based
Ethnicity-Based
Institutional-Based
General
18. Merit-Based – financial need for which financial need is not used
to determine the recipient. The recipient may be determined by
students’ athletic, academic, artistic, or other abilities.
Need-Based – financial aid for which the student and family’s
financial situation is a primary factor in determining the recipient.
In most cases the scholarship will cover all or part of the tuition
and may even cover living expenses.
Ethnicity-Based – financial aid where applicants must initially
qualify by race, religion, or national origin. After filtering the
applicants based on their ethnicity, additional factors are taken
into consideration to determine the final recipients.
Institutional-Based – scholarships awarded by a specific
college/university to students planning to attend that institution.
General – other scholarships which are awarded for a variety of
reasons which do not fall into one of the above categories
19. The Internet
Reference Books
Contacting the
colleges/universities a
student plans to attend
State Education
Organizations
www.fastweb.com
This website allows
students to create a profile.
The website will then send
emails to the student that
applies to their profile
20.
21. College seniors who
graduated last year owed an
average of $24,000 in student
loan debt, up 6% from the
year before.
At the same time,
unemployment for recent
college graduates jumped
from 5.8% in 2008 to 8.7% in
2009 - the highest annual rate
on record.
Student loan debt levels
throughout the 50 states
ranged from $13,000 to
$30,000 last year. The highest
amounts of debt were found
mainly in the Northeast, with
the lowest levels in the West.
