Noche de Ciencias Parent Workshops

Raul HinojosaHinojosa Consulting Services

October 1, 2014

Helping Your Child On Their Journey to College

Agenda

• Discussion: Why do you want your child to go to college?• Benefits of college education• Higher education options• Getting into college• Understanding admissions exams• Paying for college• College resources

Why do you want your child to go to college?

Benefits of a college education• To broaden perspectives

o Meet new people from diverse backgrounds.o Learn to be independent.o Explore new fields and views.

• To gain more knowledge that will be helpful throughout students’ lives

• To have more job opportunitieso More and more jobs require education beyond high school. Many jobs rely

on new technology and “brainpower.”

Earning potential• A 4-year college

graduate (with bachelor’s degree) earns almost $1 million more over his/her lifetime than a high school graduate.- Source: U.S. Census Bureau

Why STEM careers?• STEM (Science Technology Engineering and Math) Pays More• STEM careers are always in high demand• STEM careers are growing• STEM college internships pay very well• Student loans are easier to pay with STEM degrees• Engineering is a professional degree

Do not NEED MS/PhD to reach fullest career potential Many Executives at STEM based industries have only a Bachelor of Science

(BS – 4 year degree) in Engineering

Where Can You Use STEM education?

8

Naval Sea Systems CommandNaval Sea Systems Command designs, builds, delivers and maintains ships and systems on time and on cost for the U.S. Navy.

• A diverse organization with a single purpose of keeping America’s Navy #1 in the world

• A world-class employer of choice that inspires innovation• Set the standard for Naval engineering, shipbuilding and ship maintenance• Support humanitarian efforts world-wide• Recruits and trains men and women to serve as civilians (engineers, scientists,

accountants, doctors, nurses, lawyers, etc.) to support the Navy and Marine Corps operating forces.

Higher education optionsType of institution Degrees offered Examples

Community colleges Associates degreeCertificates

Mountain View CollegePalo Alto College

Technical colleges Associates degreeCertificates

ITT Technical InstituteTexas State Technical College

Public universities Bachelor’s degreeMaster’s degreeDoctoral degree

University of California at Los AngelesUniversity of Texas at AustinFlorida State University

Private universities Bachelor’s degreeMaster’s degreeDoctoral degree

Stanford UniversityNotre Dame UniversityHarvard University

Health-related and professional institutions

Professional degrees (law and medicine)

John Hopkins University

Getting into college• Every university has different admissions requirements.• Common admissions requirements include

o Gradeso Grade point average (GPA)o Courses takeno Class ranko Admissions exams (i.e. ACT/SAT)o Extracurricular activities, leadershipo Community serviceo Employmento College essays and interviews

Know your high school graduation plan

Students should discuss their college plans with their high school counselor as early as possible to make sure their graduation plan meets the minimum university requirements.

TIP: Community colleges offer automatic admission to students who graduate from high school.

College admissions exams• College admissions exams are commonly used to determine college

admissions and for scholarship review.

• Students should begin taking the SAT and/or ACT exam during the spring of their junior year.

• Students may take these exams multiple times to raise their scores.

• Fee waivers may be available from the student’s school counselor.

Comparing the SAT and ACT examsSAT Exam ACT ExamThree sections: Critical Reading, Math, and Writing

Five sections: English, Math Reading, Science, and Writing (optional)

Reasoning exam Content-based examOffered 7 times per year Offered 6 times per yearTimed test (3 hours, 45 minutes) Times test (3 hours or 3 ½ hours with writing)Maximum score of 800 per section (total 2400) Maximum score of 36 per sectionStudents penalized for wrong answers, guessing discouraged

Students receive credit only for right answers

Cost is $52.50 Cost is $38 or $54.50 with optional writing section

Register at sat.collegeboard.org Register at www.actstudent.org

How much does college cost?• There are five main college cost categories

o Tuition and feeso Room and boardo Books and supplieso Personal expenseso Transportation

• There is often a big difference between the published sticker price and the net price paid by students.

• Net price is a college’s total cost minus financial aid received.

How much is tuition?Type of college Average Published Yearly

Tuition and FeesPublic Two-Year College (in-state students)

$3,131

Public Four-Year University (in-state students)

$8,655

Public Four-Year University (out-of-state students)

$21,706

Private Four-Year University $29,056

Source: The College Board (bigfuture.collegeboard.org)

Using Financial Aid• Four types of financial aid available to students

• Grants are free money for students based on financial need

• Loans are money that must be paid back

• Work study requires students to work part-time

• Scholarships are free money for students based on academic merit

Applying for financial aid

• Students must apply for financial aid after January 1st of their senior year of high school.

• Parents must prepare their tax returns early to ease the submission of their financial aid application.

• Financial aid deadlines vary by college. Students should inquire at their college for priority and final deadline dates.

Applying for financial aid• U.S. Citizens, Permanent Residents and certain eligible non-citizens

must complete the Free Application for Federal Student Aid (FAFSA).

Apply online at www.FAFSA.gov

• Some states provide limited financial aid for undocumented students. Students should inquire with the Financial Aid Office at their college to determine eligibility and application requirements.

Applying for scholarships• Scholarships are offered by

o Universities and collegeso Corporations, businesses, private organizationso Non-profit organizations and foundations

• Deadlines and application requirements vary by scholarship.

• The peak period to apply for scholarships is November to March of your child’s senior year.

• Students should speak to their counselor to learn more about scholarship resources.

Where can you get help?• College resources in English and Spanish are available in

many communities and includeo High school counselors and teacherso College outreach officeso Admissions officeso Online resources (i.e. CollegeBoard.org, Princeton Review,

FinAid.org)o Professional organizations (i.e. SHPE Foundation, National Society

of Hispanic MBAs)

QUESTIONS OR COMMENTSThank you for attending.

Paying for College:Financial Aid & Scholarships

Why Major in Science and Engineering?

• STEM (Science Technology Engineering and Math) Pays More• STEM careers are always in high demand• STEM careers are growing• STEM college internships pay very well• Student loans are easier to pay with STEM degrees• Engineering is a professional degree

Do not NEED MS/PhD to reach fullest career potential Many Executives at STEM based industries have only a Bachelor of Science (BS – 4 year

degree) in Engineering

Top 10 Paying 4-year degrees?4 Year Degree Starting Median Pay Mid-Career Median Pay

1. Petroleum Engineering $97,900 $155,0002. Chemical Engineering $64,500 $109,0003. Electrical Engineering (EE) $61,300 $103,0004. Materials Science & Engineering $60,400 $103,0005. Aerospace Engineering $60,700 $102,0006. Computer Engineering (CE) $61,800 $101,0007. Physics $49,800 $101,0008. Applied Mathematics $52,600 $98,6009. Computer Science (CS) $56,600 $97,90010. Nuclear Engineering $65,100 $97,800

*Data from Payscale.com employee surveys

What About the Rest?• Top 20 paying careers are Engineering or Science• Top 39/50 careers require advanced Mathematics (at least some calculus)

*Data from Payscale.com employee surveys

How much will my education cost?Average Costs per Academic Year Regardless of Major• $14,000 for a Technical/Trade School• $14,000 for 2-year Public• $19,000 for 4-year Public In-State• $31,000 for 4-year Public Out-of-State• $35,000 for 4-year Private School

*Data from www.collegeboard.com

Cost Breakdown• Tuition & fees• Room & board• Books & supplies• Personal expenses• Transportation

Costs in TexasSouthwest Texas Junior College

2 Yr PublicIn-stateTuition & fees

$2,081Room & board

$3,600Est. Personal

$745Transportation

$710Total $7,136

Univ. of Texas

4 Yr PublicIn-stateTuition & fees

$9,418Room & board

$10,112Est. Personal

$2,472Transportation

________$1,010Total $23,012

Univ. of Texas

4 Yr PublicOut-of-stateTuition & fees

$31,218Room & board

$10,112Est. Personal

$2,472Transportation

$1,010Total $44,812

Rice University

4 Yr Private

Tuition & fees$33,771

Room & board$11,750

Est. Personal$1,550

Books & supplies $800

Total $47,871

Post-College Debt• Is not dependent on degree program at most public universities• Private schools typically require more borrowing• More Science and Engineering degrees are available at 4-Year Public schools

than any other type

Institution Level & Control Percent Borrowing Cumulative Debt 4-year Total 66.5% $22,656

4-year Public 61.1% $19,839 4-year Private Non-Profit 70.6% $27,349

4-year Private For-Profit 97.0% $24,635

*Data from finaid.org/loans

Science & Engineering = Manageable Debt• Assume average post-college debt: $22,656 • Assume 7% interest for 10 years => $3156/year• Assume 40% of pay towards taxes and retirement

Degree Start payTake-Home Pay

% pay toward debt

Mid-Career Pay

Mid-Career Take Home Pay

% pay toward debt

Mechanical Engineering

$58,400 $35,040 9.0% $94,500 $56,700 5.5%

Computer Science $56,600 $33,960 9.2% $97,900 $58,740 5.3%

Liberal Arts $37,800 $22,680 13.9% $63,200 $37,920 8.3%

Humanities $34,900 $20,900 15.1% $57,800 $34,600 9.1%

*Data from finaid.org/loans

Private

Agencies

Sources of Aid

Government

Federal& State

Institutional

(Varies bySchool)

Access to Financial AidFAFSA• Free Application for Federal Student Aid (FAFSA)• Used by federal government, state agencies, colleges, and some scholarship

agencies to determine how much and what kind of aid you are eligible to receive

• A snapshot of your finances Student and Parent Income Savings and Investments Benefits State Tax Rates

FAFSA Eligibility• Have a high school diploma or a General Education Development (GED)

certificate • Are working toward a degree or certificate in an eligible program • Are a U.S. citizen, U.S. Permanent Resident with an Alien Registration

Card, or an eligible non-citizen (refugee, asylum granted) • Have a valid Social Security Number• Some states offer their own financial aid applications for students who

do not meet these qualifications

FAFSA Process• Complete online at www.fafsa.gov• Online FAFSA is processed in a few days versus a paper FAFSA that can

take a few weeks• Get a PIN number online www.pin.ed.gov• A new FAFSA application must be submitted for each academic year• One application per student, not per family• Check your college’s Priority Dates to get the best aid

Student Aid Report (SAR)• Report that results from your FAFSA

Sent to students by email Retain for personal records

• The SAR will include the Expected Family Contribution (EFC) This information will be shared with your

college

Additional Requirements• You may be asked to provide additional documents by your

college/university

• Each college has its own financial aid deadline

• Always contact the Financial Aid Office or your financial aid representatives at your college for assistance

How Financial Aid is DeterminedCOA: Total Cost of Attendance for one academic year at the student’s institution (varies by school)

EFC: Expected Family Contribution – the amount is determined on your FAFSA

COA – EFC = Need*

*This amount will vary at each school

Types of Financial Aid• Based on the Need, a student will receive a Financial Aid Package consisting of

different forms of assistance

Gift (Free) Aid– Grants– Scholarships

Self-Help Aid– Work Study– Loans

Example: Financial AidCOA – EFC = Need$14,000 - $5,000 = $9,000 Need

Sample Financial Aid Package─ Institution scholarship$1,500─ State grant $3,500─ Work study $2,500─ Federal Loan $1,500

Total: $9,000

• Students DO NOT have to accept the entire financial aid package. They can select the types of aid they want and seek additional funding elsewhere.

Other Sources of Aid

Private

Agencies

Government

Federal& State

Institutional

(Varies bySchool)

Scholarships• Awarded based on merit, financial need, community service, academic

achievements, etc.• Sources

• Non-Profits: Society of Hispanic Professional Engineers Foundation Hispanic College Fund Hispanic Scholarship Fund

• Companies: Target, Southwest• Colleges/Universities

Starting the Search• Research for which scholarships you are eligible

It is never too early to start searching for scholarships Avoid organizations that charge fees for scholarship searches or that guarantee a

scholarship = SCAMS

• Keep a calendar of deadlines Received vs. Postmarked

• Keep a notebook with contacts, requirements and instructions for each scholarship for which you will apply

Be Prepared, Students Should…• Choose very carefully who will write a letter of recommendation for

them• Write a detailed essay - achievements, strengths, goals, and how

student plans to reach the goals• Create and constantly update resume• Request updated transcripts with enough time to mail out• Keep an updated photograph that shows professionalism; some

scholarships request a photo to print in award programs

Scholarship Selection Process• Late or incomplete applications are eliminated• Ineligible applications are eliminated• Selection Method

Essay, letter of recommendation and resume reviewed Examples of leadership, responsibility, focus, and motivation to succeed despite

challenges are looked for in the essay

SHPE Foundation ScholarshipsGeneral Scholarships

Type: Merit-Based and Need-Based Scholarships

Amount: $1,000 - $3,000

Who Can Apply: SHPE Members: High School Seniors, Undergraduates, Graduate students, and Professionals

Major: Science, Technology, Engineering, or Math (STEM fields)

Deadline: May 1, 2015 (postmarked)

www.shpefoundation.org

* Goes directly to the student not the university

Navy ROTC Scholarship• Provides 4-Year Scholarships at selected colleges and universities• Full tuition and mandatory fees• Monthly stipend from $250 -400 and $750 for text books each academic year • On graduation, two- and four-year College Program midshipmen may be commissioned ensigns in the Naval

Service or second lieutenants in the Marine Corps • Required to provide a minimum of four years service commitment to the U.S. Navy• ELIGIBILITY:

• U.S. citizen or naturalized citizen • 17 years old by September 1 of freshman year in college • No older than 23 years old by June 30 • Graduate from high school by August 1 of the year of application• SAT/ACT Minimum Scores:

• SAT: 530 Critical Reading (CR) , 520 Math • ACT: 22 English, 21 Math

• Apply and be accepted to an NROTC host college/university (If previously enrolled in college, may have a maximum of 30 semester credit hours)

• DEADLINE: January 31, 2015

Additional ResourcesHispanic College Fund hispanicfund.orgHispanic Heritage Foundation hispanicheritage.org

Hispanics Inspiring Students’ Performance and Achievement hispa.org

Hispanic Scholarship Fund hsf.net

MALDEF (Especially for non-US citizens) maldef.org Scholarships For Hispanics scholarshipsforhispanics.org

The Sallie Mae Fund thesalliemaefund.org

Career One Stop (Department of Labor) careerinfonet.org/scholarshipsearch

Questions?