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Alpharetta High SchoolOctober 10, 2012
Paying for College
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Agenda
Introduction Difference between Need-based and Merit-based Aid Sources of College Scholarships How Your Student Can Increase Their Scholarship Opportunities Scholarship Resources
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Introduction
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About Me
Educational Consultant in Atlanta since 2003 Certified Educational Planner since 2010 Certificate in college counseling from UCLA
in 2006 Chartered Financial Analyst Member of the NACAC, SACAC, IECA, HECA,
the American Institute of Certified Educational Planners and the Chartered Financial Analyst Institute
Serves on Board of Directors & as treasurer of HECA
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Need-Based Aid
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FAFSA is completed
EFC is determined
Can include grants, loans and work-study programs
CSS Profile Can be found at www.collegeboard.com
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Merit-Based Aid
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Is usually awarded on basis of meritAcademicAthleticArtistic
Some colleges require FAFSA be completed
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Sources of College Scholarships
and Grants
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College Financial Aid
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Factors to Consider:
Each college’s financial aid policy differs
Does college offer need-based and merit-based aid?
How generous is the college’s financial aid policy?
Colleges That Meet 100% of Financial Need
BostonConservatory
(MA)
ColumbiaUniversity
(NY)
Davidson College
(NC)
DukeUniversity
(NC)
EmoryUniversity
(GA)
GeorgetownUniversity
(DC)
HaverfordCollege
(PA)
NorthwesternUniversity
(IL)
OccidentalCollege
(CA)
RiceUniversity
(TX)
StanfordUniversity
(CA)
Universityof Chicago
(IL)
University ofDayton
(OH)
University ofRichmond
(VA)
WashingtonUniversity
(MO)
WilliamsCollege
(MA)
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Merit-based College Financial Aid
What are the criteria for scholarship awards?
When are the deadlines?
When will recipients be notified?
What eligibility factors are included?
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College-Sponsored Scholarships
Some require high school nomination, such as: Emory Universityo Emory Scholars and Goizueta Scholars
Programs Davidson Collegeo John Montgomery Belk Scholarship
University of Virginiao Jefferson Scholars Program
Washington Universityo Danforth Scholars Program
Villanova University Presidential Scholarship Program
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“Sticker Price” vs. “Net Price”
Sticker Price Cost of Attendance
Net PriceCost of Attendance minus
average scholarship/grant aid
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Net Price ComparisonsSource: meritaid.com
University of Alabama
Net Price $25,443
Avg. freshman grant
$8,338
COA $33,781
% of freshmen receiving grants
46%
University of Richmond
Net Price $22,646
Avg. freshman grant
$33,374
COA $53,470
% of freshmen receiving grants
56%
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Net Price ComparisonsSource: meritaid.com
Clemson University
Net Price $29,987
Avg.freshmangrant
$6,793
COA $36,780% of freshmen receiving grants
41%
Wofford College
Net Price $25,529
Avg. freshman grant
$18,236
COA $43,765
% of freshmen receiving grants
87%
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Net Price Calculators
Tool to help families determine net price for first year of college
Idea True net price = COA - estimated need-
based financial aid award
Not easy to compare colleges
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Tips for Reducing the Cost of College
Consider in-state college options if your student will qualify for the HOPE ScholarshipAwards range from $71.94-$212.10 per
enrolled hours at public universitiesAwards are $1,800 per semester or
$1,200 per quarter at private institutions See gacollege411.org for more
information
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More Ideas
Consider public universities that offer tuition discounts for top out-of-state students
Consider colleges outside the Southeast
National Merit Finalists
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Academic Common Market Waives out-of-state tuition requirement for
students pursuing degrees not offered by in-state institutions
Examples: architecture, musical theatre, petroleum engineering, professional golf management, equine studies
See www.sreb.orgfor more information
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Employer Scholarships
Examples Atlanta Gas Light
Kimberly-Clark Corporation
UPS
Children’s Healthcare
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Private Scholarships Myth
Not many college undergraduates receive
Average is $2,000
Most are non-renewable
Downside
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National Scholarships
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Local Scholarships
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Ethnicity/Race/Gender Scholarships
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Specific/Unusual Scholarships
American Harlequin Dance Scholarship
Patrick Kerr Skateboard Scholarship
Duck Brand Tape Stuck at Prom Scholarship
Vegetarian Resource Group Scholarship
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How Your Student Can Increase His/Her Chances for College Scholarships
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Study, study, study!
Prepare for standardized tests
Do your research
Apply early
Pay attention to details & deadlines
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Congratulations – you have been awarded a scholarship!
Read the fine print
Work hard!
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Scholarship Resources College Navigator -
nces.ed.gov/collegenavigator/ General college, cost & financial aid
information Fast Web – www.fastweb.com
Free scholarship search website College Board – www.collegeboard.com
General college information & scholarship searches
Scholarships – www.scholarships.com Free scholarship search website
Merit Aid – www.meritaid.com College cost, financial aid & scholarship
information
