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Presented by: Shani Allison, Frenae Smith
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Financial Aid – is money used to help pay for college tuition and room & board
Variety of financial aid tools available to students Scholarships Need-based awards Work-study employment Student loans Private loans
FAFSA = Free Application for Federal Student Aid
FAFSA is your starting point to apply for many student financial aid programs
FINANCIAL AID
Grants—student aid funds that do not have to be repaid (other conditions apply)
Work-Study—a part-time work program to earn money while you are in school
Federal Loans—student aid funds that you must repay with interest
Types of federal student loans: Perkins Direct Stafford Direct PLUS (graduate and professional degree student borrowers) Direct PLUS (parent borrowers) Direct Loan Consolidation
FINANCIAL STUDENT AID PROGRAMS
Prepared to provide extensive information about: Family income & income taxes from the previous year Assets Family size The number of family members attending college
By law, the FAFSA cannot be submitted before January 1
Gather the paperwork and fill out the FAFSA in December
Student aid is generally awarded on a first-come, first-served basis
FINANCIAL AID
FAFSA form should be submitted by February 15 Each state varies on the due date
Parents need to do taxes early – ideally by February 1st
Parents can estimate taxes to fill out the FAFSA form earlier than filing taxes, but can change figures later after filing
Don’t let tax filing hold up filling out the FAFSA on time
Qualify for State Grants – released by March 15th
Parents & students should apply for FAFSA Pin Numbers separately to speed the process up
FINANCIAL AID
If you are married and file separately then file the FAFSA form with the parent with the lowest income
Student must be status – FULL time always
List as many schools as possible
Sign up for loans and work study
FINANCIAL AID
Get free information and help from: School counselor Financial aid office at the college/university Career school you plan to attend U.S. Department of Education at www.fafsa.gov (online chat is
also available), or call 1-800-4-FED-AID (1-800-433-3243).
Visit the Financial Aid office of the colleges you tour
Speak with an advisor to learn what the college can do for you to help with tuition
FINANCIAL AID RECOMMENDATIONS
Learn the college deadlines for filing aid
Book Recommendation - "A Road to Success: The College Preparatory & Planning Guide“ - www.aroadtosuccessthebook.com
FINANCIAL AID RECOMMENDATIONS
“Prepare for the college scholarship search early. Do
not wait until your senior year.”
(www.scholarshipworkshop.com)
SCHOLARSHIPS
Are a form of gift aid, which means that they do not require either repayment or work
Most scholarships are based on: Academic achievement Leadership Community service/Volunteer work Special talents Financial need
SCHOLARSHIPS
Scholarships internal to the university or college
Local & Regional Not found as easily through an Internet search May be easier to win because the applicant pool is smaller
National Harder to win due to greater competition
Use a combination of resources to find as many scholarships to apply for as possible
SCHOLARSHIP CATEGORIES
Community OrganizationsHigh school guidance counselors officePrivate Organizations/agenciesPrivate Donors Your parent’s companies/employersLocal LibraryAcademic units – college & universities Internet/search Web sitesChurchFamily Military Affiliations
SCHOLARSHIPS RESOURCES
Never too early to find college scholarships
Look at scholarship requirements and familiarize yourself with the requirements that will be required to complete the application process
Know FAFA form deadline
Discuss with parents financial situation for college College tuition cost is on the rise “College is a choice now a days” “College may become a luxury for the few”
SCHOLARSHIPS
Decide on a college major because some scholarships are geared to specific majors
Start and maintain good grades in high school
Frequently requested documents include: Transcripts Financial aid forms SAT and ACT scores Copies of tax returns Résumés Letters of recommendation
Develop relationships with teachers, work supervisor, etc. Photographs
SCHOLARSHIPS
Know scholarship deadlines and due dates
Work on Community Service/Volunteer Work Track hours Retain list of projects and outcomes
Compile Awards List
Join school Clubs/organizations
Athletic talent and activity
SCHOLARSHIPS
Use social media to get information on scholarships
Interact with other students for information
Spend hours on the computer going through websites of scholarships
Check in with the school guidance counselor for information about scholarships but don't depend on them to do the work for you
Reach out to your parents to check their company scholarship for employee children and any organizations that they belong to
SCHOLARSHIP
Follow the guidelines; do not provide extra documents
Type the application form
Don't use fancy fonts! - stick with standard business fonts like Times New Roman or Arial
Legibility and neatness are extremely important!!! Your application can be eliminated if it cannot be easily read
SCHOLARSHIPS
Put your name on every page of the application
Make copies of the application form so that you can create a working draft
Use that draft to complete the final application form
Answer every question
SCHOLARSHIPS
Its more than your SAT scores: Scholarship programs look at
Community activities Leadership Presentation of your application package Scholarship interview tips Special or unusual talents or skills Essays
Check, check, and recheck for typos
Simple errors on scholarship applications will remove you from the competition
Make a complete copy of the application before you submit it
SCHOLARSHIPS
Not following directions
Not paying attention to the deadline and missing it
Not typing your application or sending in a sloppy application
Forgetting to spell check and to proofread after you spell check
Not including information such as a transcript or recommendation
Not answering the essay question or another question asked.
SCHOLARSHIPS COMMON MISTAKES
What you can do in preparation: Achieve good grades Volunteer for community service projects Get involve with school activities Research colleges/universities Research majors
HIGH SCHOOL FRESHMEN
What you can do in preparation: Research local & national scholarships available Research high school specific scholarships offer Prep for SATs & ACT tests Develop a timeline/calendar to log scholarship deadlines
Scholarship name Due Date Back up due date (six weeks ahead) Requirements of scholarship (application, transcript, essay, references)
Maintain or improve grades
HIGH SCHOOL SOPHOMORE
What you can do in preparation: Write generic essays (250 -500 words)
Ex. Where do you see yourself in 10 years? Compile a list of essays you are eligible for Prepare a resume of your life
This can be given to those who are selected to write letters of recommendation
Maintain or improve grades
HIGH SCHOOL JUNIOR
Your life, challenges or obstacles you’ve overcome, a risk you have taken, family, etc. and how it influenced the person you are today
Something in the news domestically or internationally and how it relates your career decision, college selection, you as a person, etc.
Who you are ~ hobbies, sports, accomplishments, etc. and the value it would add to others. You may want to have both a written essay and a video profile of who you are. Be creative, but keep it professional.
Describe a fiction character, historical figure or a creative work (art, music, technology, etc.) that’s had an influence on you
SCHOLARSHIPS ESSAY TOPICS
What you can do in preparation: Write several DRAFT essays that can be tweaked for any purpose
(250 – 500 words) Request letters of recommendation (at least 3) from your
strongest cheerleaders (Teachers, Coaches, Counselors, Administrators, Community Leaders, etc.) prepped and ready to submit with applications
Fill out applications ahead of time Work hard in August, September and October
Some scholarships are due in September & October Need access to computer & internet
Most applications are online submittals Apply to scholarships for your list of targeted schools Maintain good grades
HIGH SCHOOL SENIOR
Jackie Robinson Foundation Scholarship Award (http://www.jackierobinson.org/)
Provides scholarships of up to $7,500 annually to minority high school students showing leadership potential and demonstrating financial need to attend an accredited 4-year college or university of their choice
Eligibility To be eligible for a Jackie Robinson Foundation Scholarship, an applicant must: Be a graduating, minority high school senior; Plan to attend an accredited and approved four–year institution within the United
States; Show leadership potential; Demonstrate a dedication to community service; Present evidence of financial need; Be a United States citizen; A minimum SAT score of 1,000 combined on the math and critical reading sections or
a composite ACT score of 22; and Not possess a degree from a 2 or 4–year College when applying for the scholarship.
EXAMPLE
JRF Application Components: A completed and submitted online application One (1) letter of recommendation submitted online only SAT or ACT scores sent to the Foundation directly from the testing
agencies The Foundation’s college codes are: SAT 4248/ACT: 6570
You will need to have a copy of your SAT or ACT scores and your latest high school transcript in order to complete the questions on the online application
EXAMPLE
Build a file on scholarship information & copies of your applications It can be physical such as files in a file container
Scan in physical copies of packets and store electronically It can be electronic such as a word document file on your
computer Back up electronic copy file on a flash drive or external hard drive
Develop a year round calendar
Do your research before your senior year in high school
Make sure your application is professional and compelling!!!
SCHOLARSHIP RECOMMENDATIONS
Work on general essay topics
Develop leadership experience
Volunteer in the community
Know the process is ongoing
Do not ignore scholarships that may be local or those for small amounts Scholarship amounts, even as small as $50, can add up
SCHOLARSHIP RECOMENDATIONS
Make a copy of the letter of recommendation before submitting the scholarship packet
Send thank you notes to the people who wrote letters of recommendation
SCHOLARSHIP RECOMMENDATIONS
www.scholarships.com http://www.psu.edu/studentaid/scholarships/private.shtml?reload http://www.blackexcel.org/200-Scholarships.html http://www.scholarshiphelp.org/preparing_application.htm http://www.scholarshipworkshop.com/the-scholarship-toolbox/
scholarship-tips.html http://www.collegeanswer.com/counselor/content/college101/
fafsa.jsp http://www.celestialsent.com/?p=6 http://studentaid.ed.gov/PORTALSWebApp/students/english/
funding.jsp#02 http://money.howstuffworks.com/personal-finance/college-planning/
financial-aid/college-financial-aid1.htm
RESOURCES