paying for college financial aid overview tg | outreach and awareness
TRANSCRIPT
Paying for CollegeFinancial Aid Overview
TG | Outreach and Awareness
You will:1. Understand how to complete
the Free Application Federal Student Aid (FAFSA)
2. Research and evaluate various scholarship opportunities
3. Analyze and compare student grant options
4. Analyze and compare student loan options
5. Research and evaluate various work-study program opportunities
6. Investigate nontraditional methods of paying for college or postsecondary education and training
General principles• Generally, everyone
qualifies for some form of financial aid
• Free assistance is available to help you apply
Benefits of higher education
A college degree increases • Chances for employment in
a rewarding field• Flexibility in the types
of jobs for which you might qualify
• Likely earnings
Financial aid basics
Financial Aid 101 Types of aid (FAFSA)
Eligibility
The application
The process
Other types of aid
Resources
Click Here
What is financial aid?Directly related to the FAFSA:• Grants• Work-study• Loans
Other types of financial aid:• Scholarships• Exemptions
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Types of aid
Grants
Work-study
Loans
Types of aid
• Free money*• Need-based• Examples:
– Pell Grant (federal)– TEXAS Grant (state)– Texas Equalization
Grant (state)* except in cases where the student does not remain enrolled for that semester
Types of aid
• Students work to
earn money
• Workers receive
regular paycheck
• Jobs• Are generally on campus
• Have flexible schedules
• Provide valuable
experience
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Types of aid
• Must be paid back• Are available for
students and parents• Have low
interest rates• Provide various
repayment terms
Click Here
Basic eligibility criteria
• High school diploma or GED
• Enrolled in degree
or certificate program
• Satisfactory academic progress
• U.S. citizen/national
• Eligible non-citizen
• Registered with Selective Service (for males)
May qualify for Texas residency
• HB 1403/SB 1528
• In-state tuition
• State financial aid
Eligibility example
• Lived in Texas three years prior to
graduation from a Texas high school
Submit a FAFSA or TASFA
• College determines application
Undocumented residents of Texas
The application
• Available at www.AIE.org • Type TASFA in search field• Select correct academic year• English and Spanish
• Accompanying instructions• List of colleges
• Appendix A
Texas Application forState Financial Aid
Click Here
The application
• Online (www.fafsa.gov)• English and Spanish• Federal• State• Institutional
Free Application forFederal Student Aid
*Complete as soon as possible after January 1 of senior year (and ensuing years)
Click Here
The application
Free Application forFederal Student Aid
Students• Social Security Number• Completed IRS tax return• W-2• Record of untaxed income• Current bank statements
Parents• Completed IRS tax return
• W-2• Record of untaxed income
• Record of investments
• Current bank statements
The application
Free Application forFederal Student Aid
Use your Social Security
Number to get a PIN for
submitting the FAFSA
electronically
Click Here
The application
FAFSA• Your other option is to
print the page and sign it• Screen capture from
fafsa site
Free Application forFederal Student Aid
Your other option is to print the page and sign it and mail it to the
Department of Education
The process
SAR
“Yes”
Award Letters
Award Letters
Click Here
Federal Form for Award Letters
LISD Financial Aid Sundays2 Community
Locations:Click Here to go to LISD Financial Aid Website
Available between 2 - 6 PM(Plan on about an hour to complete the entire process)
Feb. 8 - March 2 - HighPoint Fellowship (600 W. New Hope Dr., Cedar Park) Map
Feb. 15 - Hill Country Bible Church Austin (12124 Ranch Road 620 N, Austin; Bldg A, NW Lobby) Map
Campus Dates and TimesCPHS Feb 24 4-6pm; Mar 5 1-4pm
LHS Library Feb 26 2 - 6 PM & Mar 12 2 - 6 PM
RHS Feb 24 1-5pm; Mar 3 1-5pmMar 24 1-5pm; Apr 2 1-5pm
VRHS Feb 11 6-7:30pm; Feb 25 8am-4pm
VHS Feb 23 4-6pm; Mar 25 8am-4pm
Other types of aid
Examples– Highest ranking
– Early high school
graduation
– Blind/deaf student
– Out of district fees
at community college
– Adopted students formerly in foster care
– Children of injured or deceased parents who served • peace officers • firefighters • corrections officer • U.S. Armed Forces
• Types of scholarship opportunities
– Merit Based– Need Based– Athletic– Academic
Scholarships
Merit-based vs. Need-based• Merit-based
• Academic or merit-based scholarships are awarded to recognize outstanding academic performance, talents and leadership abilities.
• Need-based• Need-based scholarships
are awarded to those who demonstrate financial need.
Athletic vs. Academic• Athletics• Traditional athletic scholarships are very
competitive• Scholarships offered by colleges will be run
by the NCAA, NAIA or NJCAA• Scholarships also available for athletes who
plan not to make a career of a sport, but because they enjoy the game.
• Academics• Scholarships awarded based on a student’s
intended area of study• Most common areas of study: education,
health, science, technology• Professional organizations or companies
affiliated with majors offer scholarships to entice students into their field.
Additional Types of Scholarships• By State
• Some of the most common and easy to find scholarships are state scholarships
• State scholarships are need-based & merit-based
• State scholarships pay particular attention to applicants pursuing certain high need fields.
College For All Texans
• By “Other” Types• Different types include
scholarships based on:• Ethnic background • Medical disabilities (Cancer,
Epilepsy, etc.)• Community service• Religious convictions• Artistic abilities (art, film,
dance, music)• Environmental causes
College Funding: Scholarships
• Where to find scholarships– Check the Financial Aid Office of the school the student
plans on attending– Check with Guidance Office & Mr. Parsons– Sign up with scholarship search sites like
Scholarships.com
NavianceWhere can I find Scholarships? Cont.
College Funding: Scholarships
• When to apply for scholarships?
– Scholarships are offered year round
– Best time to apply is NOW
– Conduct a search regularly throughout the year to
ensure you find recently added scholarships
College Funding: Scholarships
• When to apply for scholarships?– Large majority of scholarship deadlines are within the
months of February-April
FEB
MARCH
APRIL
January February
March April
May June
July August
September October
November December
College Funding: Scholarships
• How to navigate the process1. Get organized
• Pull together the information that may be needed for all scholarship applications
– Academic Information (GPA, SAT/ACT scores)– Recommendation letters– College choices– Personal essay– Community/volunteer work
College Funding: Scholarships
• How to navigate the process2. Create a list of eligible scholarships3. Sort the scholarship list by deadline4. Start applying
– Be sure to read the directions, qualifications, and fine print
carefully
– Watch out for scholarship scams
• Visit the Resource and Educators sections of Scholarships.com for more tips on how to fund a college education and free materials for financial aid nights.
– Resources Link:
http://www.scholarships.com/resources/
– Educators Link:
http://www.scholarships.com/educators/
Questions & Answers
Resources
www.federalstudentaid.ed.gov
www.collegeforalltexans.com
www.AIE.org
www.mappingyourfuture.org
www.scholarships.com
https://bigfuture.collegeboard.org/
Need more information?Try:High school counselorsLocal colleges or universities
Now go to the district CCR website to check out options for scholarships. Don’t forget to check out Naviance as well!
http://www.leanderisd.org/default.aspx?name=dept.CCR.financial
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TFAIC
Texas Financial Aid Information Center
Mondays – Thursdays 8:00 a.m. – 6:00 p.m.Fridays 8:00 a.m. – 5:00 p.m.
© 2012 Texas Guaranteed Student Loan CorporationTo order additional copies, or to request permission to reproduce any of the information provided,
please call TG Communications at (800) 252-9743.
Thank you!
(888) 311-8881 toll free