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Finding Money for CollegeFinding Money for College
Sallie Wiggins, School Counselor
864-938-1854
Four Ways to Pay for CollegeFour Ways to Pay for College
Grants – Money given to you Scholarships – Money that is given to you
because of academic achievement, talent, skill, or financial aid
Work – Money you earn from a job on or off campus
Loans – Money you borrow and must repay
Free Application for Federal Free Application for Federal Student Aid (FAFSA)Student Aid (FAFSA) A form of need analysis Determines the Expected Family Contribution Use ALL 2012 income (taxed and untaxed) Provide both student and parent(s) income Looks at total household size Looks at how many are in college Total assets are considered in calculation Can send to up to 10 colleges/universities FREE & ANNUAL Process!!
Electronic ApplicationsElectronic Applications
Apply online in Spring of Senior Year– www.fafsa.gov
Apply for a PIN– www.pin.ed.gov– Student and at least one parent
Tips and Hints– www.finaid.org/fafsa/maximize.phtml
Help is Available FREEHelp is Available FREE
CHS Financial Aid Help Sessions– TBA: Late February/Early March
College Goal South Carolina– Saturday, February 23, 2013– Various locations across the state
FOR MORE INFO...
www.collegegoalsc.org
FAFSA ResultsFAFSA Results
Student Aid Report (SAR)– 3-5 days after processing via e-mail or 2 weeks
after processing via mail– To you and all the schools you listed on the
FAFSA
Cost of Attendance (COA) – Estimated Family Contribution (EFC) = NEED
– Award Letter from schools you listed on the FAFSA
For JuniorsFor Juniors
FAFSA4caster– Estimates what your FAFSA will look
like next year– www.fafsa4caster.ed.gov– Data will transfer to FAFSA next year
Unusual CircumstancesUnusual Circumstances
Financial Aid Offices will use professional judgment
Notify college financial aid office of special circumstances:– Change in parent’s marital status– Loss of income or significant reduction– Death of a parent
Federal ProgramsFederal Programs
Pell Grant Supplemental Educational Opportunity
Grant (SEOG) TEACH Grant College Work Study Perkins Loan Direct Stafford Loan Programs Direct Parent PLUS Loan
Federal Pell GrantFederal Pell Grant
Must file FAFSABased on NeedUp to $5, 550 (proposed for 2012-13)Award based on enrollment status
(Full time, part time, or less than half time)
Federal Supplemental Education Federal Supplemental Education Opportunity Grant (FSEOG)Opportunity Grant (FSEOG)Up to $4,000 a year (depending on
cost of selected college/university)Must file FAFSABased on needLimited funds
TEACH GrantTEACH Grant
Teacher Education Assistance for College and Higher Education (TEACH) Grant Program
MAXIMUM AWARD:– Up to $4,000 per year
Eligibility Criteria– Enrolled in an eligible program, and – Agree to teach
• In a critical subject• In a critical geographical area• For at least four years within eight years of
completing the program for which the TEACH Grant was awarded
TEACH Grant (cont.)TEACH Grant (cont.)
Failure to teach requires repayment under terms of an unsubsidized Direct Loan
How to apply:– Check with the financial aid office at
your institution for availability and application procedures
–May not show on award letter unless you ask
ScholarshipsScholarships
College Board Scholarship Search– https://bigfuture.collegeboard.org/schol
arship-searchFast Web Scholarship Search– www.fastweb.com
College Net Scholarship Search– www.collegenet.com
State Programs in SCState Programs in SC
Palmetto Fellows Scholarship Life Scholarship Hope Scholarship Lottery Tuition Assistance Need Based Grant
Administered by SC Commission on Higher Education– www.che.sc.gov
General Eligibility Criteria for General Eligibility Criteria for All State ProgramsAll State Programs Be a SC resident; Be a US citizen or permanent resident
(green card); Be enrolled as a degree-seeking student at
an eligible SC public or private institution Certify that he/she has never been
convicted of any felonies and has not been convicted of any alcohol or other drug-related misdemeanor convictions within the past academic year
General Eligibility (cont.)General Eligibility (cont.)
Verify that he/she does not owe a refund or repayment on any Federal or State financial aid and not be in default on any Federal loans
Award Amounts:– Cannot exceed the cost-of-attendance– Half awarded during the fall and half
during the spring
Palmetto Fellows ScholarshipPalmetto Fellows Scholarship
Available for attendance at four year institutions in South Carolina
Maximum Award– $6,700 during Freshman year– $7,500 per year for Sophomore through Senior
years Must apply during Senior year of high
school– School counselors will guide students through
the application process
Palmetto Fellows (cont.)Palmetto Fellows (cont.)
Initial Eligibility Criteria:– Top 6% of class,– 1200 or higher SAT (CR+M), or 27 or higher ACT, and– 3.50 cumulative GPA on the Uniform Grading Scale
OR– 1400 or higher SAT (CR+M), or 32 or higher ACT, and– 4.00 cumulative GPA on Uniform Grading Scale
Continued Eligibility– 3.0 GPA or greater and at least an average of 30 credit
hours per academic year
Life ScholarshipLife Scholarship
Available for attendance at a 2 or 4 year institution in SC
Maximum Award– 4-year Institution: Up to $5,000– 2-year Institution: Up to cost of
attendance + $300 book allowance
Life Scholarship (cont.)Life Scholarship (cont.)
Initial Eligibility requirements at a 4 year school– Any two of these three:
• 3.0 or higher cumulative GPA on uniform grading scale
• Top 30% of high school graduating class• 1100+ SAT (CR+M) or 24+ ACT
Initial Eligibility requirements at a 2 year school– 3.0 or higher cumulative GPA on uniform
grading scale
Life Scholarship (cont.)Life Scholarship (cont.)
Continued Eligibility Requirements:– 3.0 GPA or greater and at least an
average of 30 credit hours per academic year
Can earn the Life Scholarship while in college– 3.0 GPA or greater and at least an
average of 30 credit hours per academic year
Palmetto Fellows and Life Palmetto Fellows and Life Scholarships EnhancementsScholarships Enhancements Maximum Enhancement
– $2,500 per year beginning in the Sophomore year
Eligibility Criteria– Declare a major in Mathematics or Science*– Have earned at least 14 credit hours of math or
science courses* during the Freshman year
*A complete list of eligible majors and courses can be found on the SC Commission on Higher Education’s website, www.che.sc.gov
SC Hope ScholarshipSC Hope Scholarship
Freshman year only at 4 year institutions in SC
Maximum Award:– Up to $2,800 towards the cost of
attendanceEligibility Requirements:– 3.0 GPA on the Uniform Grading Scale
at the time of high school graduation
Lottery Tuition Assistance Lottery Tuition Assistance (LTAP)(LTAP) Available for students attending SC
Technical Colleges, USC Regional Campuses and Spartanburg Methodist College
Maximum Award:– $75 per credit hour, up to $900 per semester for
full-time attendance Eligibility Criteria:
– Must file the FAFSA– Must be degree seeking and enrolled in a
minimum of 6 credits
SC Need-Based GrantSC Need-Based Grant
Maximum Award– Up to $2,500 annually if enrolled in full-time
and $1,250 if enrolled part-time for a maximum of eight full-time equivalent terms
– College determines the exact award amount
Eligibility Criteria– Must file the FAFSA– Must be needy based on the results of the
FAFSA (consistent with Pell Grant eligibility)
SC Tuition GrantSC Tuition Grant
Need-Based Grant Program available to Eligible SC Residents attending SC Independent Colleges on a Full-Time basis
Freshman Academic Eligibility Criteria– Top 75% of senior class, or– SAT score of 900 (CR+M) or higher, or– ACT score of 19 or higher, or– Final high school GPA of 2.0 or higher on SC
Uniform Grading Scale
SC Tuition Grants (cont.)SC Tuition Grants (cont.)
Students must file FAFSA annuallyAnnual Application Deadline – June
30Maximum award - $2,800Tentative Award notifications via e-
mail– www.sctuitiongrants.com for more
information
Federal College Work StudyFederal College Work Study
Must file FAFSABased on needLimited fundsStudents work up to 20 hours/week –
earn a paycheckUsually on campus
Federal Perkins and Stafford Federal Perkins and Stafford LoansLoansFederal Perkins and Stafford Loan–Must file FAFSA– Subsidized = no interest accrues while
in school– Unsubsidized = interest accrues– Payments are deferred until out of
school– Low interest rates
Other LoansOther Loans
Federal Direct PLUS Loan– College/University will provide
instructions on how to apply in the award letter
Palmetto Assistance Loan and SC Teachers Loan Program– Apply online at www.scstudentloan.org
Local ScholarshipsLocal Scholarships
Cummins-Wham (due ~April 15)Cummins-Wham (due ~April 15)– In memory of late Mae Wham and Charles Cummins…In memory of late Mae Wham and Charles Cummins…
last year awarded $36,000 to 12 students ($3,000 each)last year awarded $36,000 to 12 students ($3,000 each) M.S. Bailey (due ~April 15)M.S. Bailey (due ~April 15)
– In memory of late Mercer Silas BaileyIn memory of late Mercer Silas Bailey– $40,000 to 2 students ($20,000 each)$40,000 to 2 students ($20,000 each)
McAlister (due ~April 15)McAlister (due ~April 15)– Full tuition, room, board, books for one studentFull tuition, room, board, books for one student– Awarded to CHS in odd number years and LDHS in even Awarded to CHS in odd number years and LDHS in even
number yearsnumber years
**Check your monthly newsletters for other **Check your monthly newsletters for other scholarships!!scholarships!!
CHAMPS ScholarshipCHAMPS Scholarship*due mid-March*due mid-March
• Awarded each year to a graduating CHAMPS high school senior who has applied for and has been granted admission to Presbyterian College
• Worth the equivalent of PC’s annual direct cost to attend (room, board, tuition, select fees)
• Renewable for three consecutive years, contingent upon the recipient demonstrating satisfactory academic progress
• Requirements:1. Be recognized as an outstanding student representative in
CHAMPS2. Apply for and be granted admission to PC3. Cumulative HS GPA of “B” or better4. Above average SAT Scores5. Include a letter in application requesting consideration and
a letter of recommendation from a CHAMPS administrator6. Submit a resume
