Guide to College Planning and Financial Aid
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Students will learn how to “take charge” of paying for college when they understand the types of financial aid and how to apply.
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Guide to College Planning and Financial Aid
- 1. Welcome to Take Charge Presented by EducationQuest Foundation Your Journey to College Begins with Us
- 2. Let your journey begin… EducationQuest Foundation will guide you on your journey to college We provide: Free college planning services Need-based scholarships Grants that help high schools increase the number of students who go to college Outreach services for community agencies statewide
- 3. At our locations, we offer FREE services Computer-based services and resource materials to help you: • explore careers • find scholarships • select a college One-on-one help with college planning* Completion of the FAFSA* *Appointment required
- 4. Follow us! Keep up with college planning tips and advice! – Facebook.com/EducationQuest – Twitter: @FreeCollegeHelp
- 5. We will cover… The Cost of Education The types of financial aid available How to apply for financial aid
- 6. The Cost of Education !
- 7. Have a financial discussion as a family Cars Household Bills Other Debt Savings Other
- 8. Direct Costs • Tuition & Fees • Room & Board* • Books & Supplies Indirect Costs • Personal • Transportation *Depends on student housing plan
- 9. Cost of Education 4-year PUBLIC college TUITION & FEES $ BOOKS & SUPPLIES $ ROOM & BOARD (ON-CAMPUS) $ PERSONAL & TRANSPORTATION $ TOTALS 8,156 1,050 9,532 3,604 $ 2,596 $ 15,406 (WITH PARENT) $ 22,342
- 10. Cost Of Education 4-year PRIVATE college TUITION & FEES $ BOOKS & SUPPLIES $ ROOM & BOARD (ON-CAMPUS) $ PERSONAL & TRANSPORTATION $ TOTALS 28,620 1,000 7,950 3,500 $ 2,730 $ 35,850 (WITH PARENT) $ 41,070
- 11. Cost Of Education 2-year PUBLIC college TUITION & FEES $ BOOKS & SUPPLIES $ ROOM & BOARD (OFF-CAMPUS) $ PERSONAL & TRANSPORTATION $ TOTALS 2,700 2,200 8,200 3,400 $ 4,100 $ 12,400 (WITH PARENT) $ 16,500
- 12. Types of Financial Aid
- 13. Types of financial aid Scholarships Work-Study* Loans* $ $ Grants* $ *Based on FAFSA Results (Free Application for Federal Student Aid) $
- 14. Scholarships Common criteria GPA Financial Need Ethnicity ACT/SAT score Field of study First-generation student Talents Community Service Employer College choice Leadership Activities Military service Disability State of residence Gender $
- 15. $ Scholarships Search tips Begin research early Colleges School counselor ScholarshipQuest at EducationQuest.org Private organizations The Internet
- 16. Scholarship Tips Get organized Put in the time Write a good essay Check, double-check, triple-check Think local and small-dollar Meet deadlines
- 17. $ Scholarships Common mistakes following directions meeting the deadline typing – or turning in a sloppy application proofreading including all necessary components answering the essay question as asked meeting the criteria
- 19. Financial Aid Program Scholarship ! Students who attend an EducationQuest Financial Aid Program can register for a $500 scholarship! Will conduct a drawing to select three student winners in February See your packet for an info card
- 20. Susan Thompson Buffett Scholarship www.buffettscholarships.org Eligibility Financial need 2.5 GPA on a 4.0 scale Attend a Nebraska public college (two- or four-year) Amount Up to $4,250 per semester Dates to remember Online application opens: November 1, 2014 Deadline: February 1, 2015 Student Aid Report due: March 15, 2015 !
- 21. Grants Money you don’t repay Based on financial need Federal Pell Grant (range $602-$5,730) State College-based $
- 22. Tuition Assistance Programs Collegebound Nebraska – UNO, UNL, UNK, or UNMC – NE resident, full-time student, Pell eligible – Must complete FAFSA by April1 Advantage – Wayne, Peru, Chadron – NE resident, full-time student, Pell eligible – Must complete FAFSA by June1 ! If you meet the criteria, tuition is COVERED! !
- 23. Work-Study $ Must show financial need Part-time job, typically on campus Flexible schedule Money not available up-front
- 24. Annual loan limits Freshman: $5,500 Sophomore: $6,500 Junior: $7,500 Senior: $7,500 2014-15 student loan interest rate fixed at 4.66%. $
- 25. Applying for Financial Aid
- 26. Applying for Financial Aid Scholarships Grants, Work-Study, Loans Deadlines Priority dates
- 27. Financial aid process FAFSA & PIN Processor SAR College Student Verification? Award Letter
- 28. Applying for a Department of Education PIN A PIN serves as your signature on the electronic FAFSA The Department of Ed PIN process is changing EducationQuest will provide updates on Facebook and Twitter (@FreeCollegeHelp) – so follow us!
- 29. About the FAFSA Free Application for Federal Student Aid Apply at fafsa.gov Complete after January 1 of senior year before college’s priority filing date Use parent and student tax information Renew yearly
- 30. Financial aid formula Cost of Education Tuition & Fees Room & Board Books Personal Transportation EFC Financial Need Parent Income/Assets Student Income/Assets Parent’s Age # in Household # in College The amount of money the college will try to give you in financial aid
- 31. Junior Year (SPRING) Visit colleges Start a scholarship file Prepare for and take the ACT and/or SAT Update Activities Resume Junior Year (FALL) Research colleges Set up an Activities Resume Attend a College Fair or EPP Take the PSAT
- 33. Your Journey to College Begins with Us Kearney Lincoln Omaha EducationQuest.org 402.475.5222 Call for an appointment Follow us on Facebook and Twitter (@FreeCollegeHelp)
Notas do Editor
- **This slide can be moved to a different point in the presentation (personal preference). Preparing for college might mean shifting expenses and making choices (ex: downgrade to a cheaper car, shift other bills). Be realistic with yourself and your student! Talk to your student about what you can afford! (Ask how many people have had a conversation with their student about what they can realistically afford to pay toward college.) (Percentages roughly based on IFAP parent income protection allowance.)
- [Animations – 3 clicks: 1=merit/need, 2=leadership/community service, 3=talents/athletics/drama/music] Explain a little bit about the different types of scholarships. Many scholarships require a mix of all the above categories. Obviously these are some of the main types – there are others out there, ex: religion, ethnicity, military, etc.
- My.EducationQuest.org is hyperlinked if during your presentation you have time to clink on the link. This is optional based on time allowed.
- Beware of anything asking for money or very personal information (i.e. SSN, mother’s maiden name, bank account numbers, etc.). You should never pay for a scholarship.
- Make sure not to say “free money.” (It’s not technically free, it’s someone’s tax dollars.) Instead, use “money you don’t repay,” or “gift money.”
- [Animations – 1 click=Note] Don’t need to explain difference between dependent & independent here (will do so later). Main point of this slide is to bring attention to the fact that there are limits on the federal Stafford loans, and students won’t be able to borrow as much as they may want in order to cover costs. Point out that as an independent student, they can borrow a bit more, but most high schools students will be considered dependent (click to bring up Note as explaining this).
- [Animations – 2 clicks: 1=all scholarship application bubbles, 2=FAFSA screenshot] This slide is meant to be a quick visual/explanation to point out that students will fill out multiple applications for scholarships, and just one application (FAFSA) for grants, work-study, and loans. May mention some colleges require other paperwork (ex: CSS profile) or other institutional forms. (Obviously, to actually get loans disbursed they will have to complete MPN, but don’t need to discuss that here.)
- [Animations – 5 clicks: 1=arrow/FAFSA, 2=arrow/Processor, 3=diagonal arrows/SAR/College/Student, 4=arrow pointing right/Award Letter, 5=arrow pointing left/Award Letter] Give a general overview of each step here; most of them will be discussed in greater detail in the proceeding slides. However, this is the only slide that mentions the Central Processing System. Also, highlight the Student Aid Report (SAR) here. Talk about receiving it either in the postal mail or electronically, a confirmation summary for students, may need it for certain scholarships.
- [Animation is automatic – no clicks necessary. (Red circle, underline, and arrows.)] Both parent and student need one
- This is just a brief overview of the FAFSA – don’t need to take more than a minute on this slide. Much of it will be discussed on the following slides.
- [Animations – 2 clicks: 1=minus sign/EFC bubble/green arrow/green box, 2=equals sign/Financial Need bubble/orange arrow/orange box] Main point of slide is to explain the formula. The boxes under each section are a description of that part of the formula. The COE part is mostly review since we already went over that earlier. The green box is some review and some new information, but not much more detail is needed to explain it. The orange box will probably need the most explanation.
- [Animations – 5 clicks: 1=resources box, 2=calculators, 3=college funding estimator, 4=FAFSA checklist 2013-14**, 5=FAFSA tools] Calculators: Award letter comparison College Funding Estimator: estimate results of the FAFSA any time with current tax info FAFSA tools: demo, tutorial, video, podcasts, steps to renew **Once the checklist for the 2013-14 school year is available we will add that to the resource list and update this slide