financial aid & scholarship parent presentation15 16
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Financial aid consists of funds provided to
students and families to help pay forpostsecondary educational expenses
Includes
Tuition & Fees
Room & Board
Books, supplies, transportation, and misc.personal expenses
Sometimes can include
Loan fees
Study abroad costs
Dependent care expenses
Varies widely from college to college
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Amount family can reasonably be expected tocontribute
Stays the same regardless of college Two components
◦ Parent contribution
◦ Student contribution
Calculated using data from the FAFSAand a federal formula
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Cost of Attendance
– Expected Family Contribution
= Financial Need
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Need-based aid Non-need-based aid Help destroy the Myth! There is some type of
aid out there for almost everyone
My parents make too much money, so I won’tqualify
Only students with good grades get financial aid
You have to be a minority to get financial aid
The form is too hard to fill out
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• Scholarship:
• Awarded on the basis of merit, skill, financial need or
unique characteristic
• Money that (usually) does not have to be paid back
• Grants:
• Usually awarded on the basis of financial need
• Money that (usually) does not have to be paid back
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‣ Loans
‣ Money students and parents borrow to help paycollege expenses
‣ Repayment usually begins after education is finished
‣ Look at loans as an investment in the future
‣ Employment
‣ Allows student to earn money to help pay educationalcosts
‣ A paycheck; or
‣ Nonmonetary compensation, such as room and board
‣ Hours and duties will vary from position to position andcollege to college
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Federal government
◦
Largest source of financial aid States
◦ Residency requirements usually apply
◦
Use info from FAFSA and/or state application Colleges and universities
Other:
◦
Private sources/civic organizations/churches Requires some research and searches
◦ Employers
Scholarships or education benefits for children
and/or employees
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VA benefits may be available for veterans and/ortheir dependents.
Parent benefits may be transferrable to students
Several different programs
Contact VA representative to determine eligibility.
Colleges have VA liaisons who certify student
enrollment.
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Federal Pell Grant Federal Supplemental Educational Opportunity
Grant (FSEOG)
Teacher Education Assistance for College andHigher Education (TEACH) Grant
Federal Work-Study (FWS)
Federal Perkins Loan
Subsidized and Unsubsidized Federal DirectStudent Loans (Direct Loans)
PLUS Loans
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• Based on EFC, COA, and enrollment status
(full-time, half-time, etc.)• Generally awarded to undergraduate students• Maximum award for 2014-2015 = $5,730
Annual award $100 to $4,000 a year
Students with the lowest EFC’s must be awardedfirst
Priority goes to Federal Pell Grant recipients
Not all Schools award FSEOG
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U.S. citizen
Be enrolled in course work that is necessary to begina career in teaching or plan to complete such coursework.
Meet certain academic achievement requirements Sign a TEACH Grant Agreement to Serve
Teach full time as a highly qualified teacher at a low
income school in a high need field for 4 years after
degree completion.
If teaching obligation is not completed, TEACH grantfunds will be converted to a Federal DirectUnsubsidized Loan
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Provides part-time employment while studentsare enrolled
Employment may be on or off campus
Even if the student does not qualify for FWSthey may still be able to have an on campus
job!
Students should Inquire about jobs at thecollege’s Student Employment Office
Not all schools participate
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• Priority to students who show exceptional need• Interest rate: 5% fixed• Nine month grace period, repayment may be
up to 10 years• Deferment and cancellation provisions
available for qualifying employment• Not all schools participate• Maximum annual award
– $5,500 for undergraduate students – $8,000 for graduate students
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Subsidized◦ must demonstrate need
◦ U.S. Department of Education will pay (subsidize) theinterest that accrues while in school
Unsubsidized◦ not based on need
◦ most everyone can qualify
• Repayment begins after 6 month grace period• Maximum repayment period between 10 and 30 years
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Parents of dependent undergraduate students◦ Repayment begins immediately but can be deferred
upon request
If a parent is unable to borrow (denied) a
parent PLUS loan, a student may be eligible foradditional unsubsidized loan
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U.S. citizen or permanent resident
High school graduate/GED holder
Eligible degree/certificate program
Valid Social Security number
Males registered for Selective Service
Satisfactory academic progress (SAP)
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A standard form that collects demographicand financial information about the studentand family to figure EFC.
Colleges use EFC to award financial aid
May be filed electronically or using paperform
◦ Available in English and Spanish
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•
May be filed at any time during an academicyear, but no earlier than the January 1st prior tothe academic year for which the studentrequests aid
• For the 2016-17 academic year, the FAFSA maybe filed beginning January 1, 2016
• Most colleges set FAFSA filing priority dates but
not all do so
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Good reasons to file electronically:
• Built-in edits to prevent costly errors
• Skip-logic allows student and/or parent to skipunnecessary questions
• Option to use Internal Revenue Service (IRS) Data RetrievalTool to import tax data
• More timely submission of original application and anynecessary corrections
• More detailed instructions and “help” for common
questions• Ability to check application status online
• Simplified application process in the future
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•
Website: www.fafsa.gov
http://www.fafsa.gov/http://www.fafsa.gov/
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The FSA ID
◦ Sign FAFSA electronically◦ May be used by students and parents throughout aid
process, including subsequent school years
◦ https://studentaid.ed.gov
https://studentaid.ed.gov/https://studentaid.ed.gov/https://studentaid.ed.gov/https://studentaid.ed.gov/
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Social Security Numbers Divorced/remarried parental information
Income earned by parents/stepparents
Untaxed income U.S. income taxes paid
Household size
Number of household members in
college Real estate and investment net worth
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• Federal Student Aid Hotline (1-800-433-3243)
• Federal Student Aid Website:
http://studentaid.ed.gov/fafsa/filling-out
•
Your college’s Financial Aid Office•
College Goal Sunday—February 2016
http://studentaid.ed.gov/fafsa/filling-outhttp://studentaid.ed.gov/fafsa/filling-out
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February 2016Visit www.CollegeGoal.org
for more informationOften held at MidAmerica Nazarene
University
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http://www.collegegoal.org/http://www.collegegoal.org/http://www.collegegoal.org/http://www.collegegoal.org/
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Cannot be documented using FAFSA
Contact the college to find out how to submitinformation concerning special circumstances
Examples◦Change in employment status◦Unusual medical expenses not covered by insurance◦Change in parent marital status
◦Unusual dependent care expenses◦Student cannot obtain parental information◦Parent enrolled in college
https://studentaid.ed.gov/fafsa/next-steps/correct-update#updates-if-your-situation-has-changedhttps://studentaid.ed.gov/fafsa/next-steps/correct-update#updates-if-your-situation-has-changed
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Avoid being charged a fee to file the FREEApplication for Federal Student Aid
Completion and processing of the FAFSA are
FREE
Make sure you are using the correct webaddress
www.fafsa.gov
http://www.fafsa.gov/http://www.fafsa.gov/https://studentaid.ed.gov/sites/default/files/dont-get-scammed.pdfhttps://studentaid.ed.gov/sites/default/files/dont-get-scammed.pdfhttp://www.fafsa.gov/
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• Mail - paper Student Aid Report (SAR) ifstudent’s e-mail address was not provided onFAFSA
•
Email - notification containing a direct link tostudent’s online SAR if student’s email wasprovided on FAFSA
Student with FSA ID may view SAR online atwww.fafsa.gov
http://www.fafsa.gov/http://www.fafsa.gov/
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–Many schools won’t begin processingaid for 2015-16 until late March orApril.
–Check with the individual school fortheir schedule
–Many private schools will begin much
earlier than public schools
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If necessary, corrections to FAFSA data may bemade by:
• Using FAFSA on the Web (www.fafsa.gov)
http://www.fafsa.gov/http://www.fafsa.gov/
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Allows students without lawful immigrationstatus to pay in-state tuition at Kansas
institutions but not Federal Aid.
To qualify they must:
◦
Attended a Kansas high school for three years AND
◦ Graduate from a Kansas high school OR equivalent AND
◦ File an affidavit with the post-secondary institution
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Student can still get Federal Aid if they are:◦
A U.S. citizen or◦ Eligible noncitizen such as:
Permanent U.S. resident with I-551or
Conditional permanent resident with I-551C or
Other options listed on FAFSA
Parent section of the FAFSA still needs filled out◦ Parent will use 000-00-0000 for SS#
Parent may get error message (most common when enteringincome information)
Click submit 3 times to move past
Cannot get PIN to sign electronically – must sign and mailsignature page
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Deferred Action for Childhood Arrival - June 15, 2012◦ Provides eligibility for work authorization
◦ Defers removal action for 2 years, subject to renewal◦ Does not provide lawful status - NOT ELIGIBLE for FAFSA
To Apply for DACA Must have entered the U.S. illegally as children
Under the age of 31 as of 6/15/2012
Came to the U.S. before 16th birthday—at least 15 years old to apply
Continuously resided in the U.S. since 6/15/2007 to the present time
No lawful status on 6/15/2012
• Currently in school, HS grad, certificate of completion or GED- or –Honorably discharged veteran of the Coast Guard or Armed Forces ofthe U.S. -----AND-----
• Not convicted of a felony, significant misdemeanor, or three or moremisdemeanors and do not otherwise pose a threat to national securityor public safety
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Kansas Comprehensive Grant Kansas State Scholarship
Kansas Scholars Curriculum
Kansas Ethnic Minority Scholarship Career Technical Workforce Grant Kansas Career Work Study Program Fee Waiver Programs
Dependents & Spouses of Deceased Public Safety Officers orDeceased Military Personnel
ROTC Tuition Waiver Kansas Teacher Service Scholarship Kansas Nursing Service Scholarship
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http://www.kansasregents.org/http://www.kansasregents.org/
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Kansas Comprehensive Grant
Available to public & independent 4-yr schools
Need-based; full-time enrollment required
Only FAFSA application required forconsideration – no state application required
$3,500 max./$200 min. – Independent
Institutions $1,500 max./$100 min. – Public Institutions
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Kansas State Scholarship
Available to public, independent 4-yrinstitutions & community colleges
Need & merit-based; full-time enrollmentrequired
Kansas Scholars Curriculum (KSC) Completionrequired www.kansasregents.org
Must file FAFSA and state application
$1,000 maximum award
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http://www.kansasregents.org/http://www.kansasregents.org/
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Kansas Ethnic Minority Scholarship
Available to public, independent 4-yrinstitutions & community colleges
Need & merit-based; full-time enrollmentrequired
Must file FAFSA & state application
$1,850 maximum award
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Career Technical Workforce Grant
(formerly the Kansas Vocational Scholarship)
Available to technical schools & colleges, communitycolleges and state universities w/technical programs
Awarded to students enrolled in high demand/criticalindustry programs of study. Priority to given to thosewith financial need. There is no longer a test given.
New award amount: $1,000
Available to part-time and full-time students; awardamount pro-rated based on enrollment hours
Must file FAFSA and state application
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Kansas Career Work Study Program
Available to public 4-yr institutions
Need-based; FAFSA required; students may be
enrolled either part-time or full-time; applicationprocess takes place at the institution
Students work in career-related occupations off-campus
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Fee Waiver Programs
Dependents & Spouses of Deceased Public Safety Officers:
Available to students who have lost a parent or spouse in theline of duty (includes law enforcement officers, firefighters, &emergency medical services attendants)
Dependents & Spouses of Deceased Military Personnel:
Available to students who have lost a parent or spouse on orafter 9/11/01 while in active duty military service
Former Prisoners of War: Available to former prisoners ofwar – includes individuals who, while serving in the U.S.Armed Forces, were declared a POW by the U.S. Secretary ofDefense after January 1, 1960
• Available at state regents 4-yr institutions, community colleges,technical schools & colleges & Washburn University
• Students may be enrolled either part-time or full-time• Maximum amount of award up to required tuition & fees, not to
exceed 10 semesters of undergraduate instruction
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ROTC Tuition Waiver
Available to participating public 4-yr institutions
Recipients are selected at the institution (separateapplication required)
Students must be enrolled full-time Maximum award up to 70% cost of attendance
Service obligation – after completion of degreestudent must become commissioned as a Second
Lieutenant and serve for not less than 4 yrs. as acommissioned officer with the Kansas ArmyNational Guard
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Kansas Teacher Service Scholarship
Merit-based/competitive State application required
Students may be enrolled either part-time or full-time;enrolled in coursework leading to a bachelor’s or master’sdegree in a hard-to-fill teaching discipline
Upper class undergraduate students & current teachers givenpriority
Must plan to work in hard-to-fill discipline or underservedgeographic area of the state
Service obligation – 1 yr of service for 1 yr of scholarship
$5,514 maximum award for AY 2014-15 (award increasedeach year based on CPI). Award amount prorated based onthe number of hours enrolled
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Kansas Nursing Service Scholarship
Available to public, independent 4-yr institutions,community college & technical schools/colleges
Need-based; full-time enrollment required Students must acquire a sponsor
State application required
Service obligation – 1 yr of service for 1 yr ofscholarship
$3,500 for RN/$2,500 for LPN maximum awards
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http://www.kansasregents.org/scholarships_and_grantshttp://www.kansasregents.org/scholarships_and_grants
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National Guard Educational Assistance Program
Available to public & independent 4-yr institutions,community colleges, & technical colleges
Students must be enrolled full-time
Must file state application
Service obligation – student agrees to completetheir current military service obligation, plus threemonths service for each semester of assistancereceived
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MythsTips
Reminders
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College Websites & Financial AidRepresentatives
Olathe Public Schools Scholarship Website
Olathe East Website, Daily Announcements Scholarship Search Engines Work places- Check with your employer
Clubs, Organizations & Associations
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www.studentaid.ed.gov/scholarship www.finaid.org
www.kasfaa.org/ - Kansas Association of Student
Financial Aid Administrators www.nasfaa.org/ - National…
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http://www.studentaid.ed.gov/scholarshiphttp://www.studentaid.ed.gov/scholarshiphttp://www.finaid.org/http://www.finaid.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.kasfaa.org/http://www.finaid.org/http://www.studentaid.ed.gov/scholarship
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Natalie Ryan @OE_Counseling
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Apply, Apply, Apply
Read and follow all instructions.
Submit a clean and neat application.
Submit a well-composed essay that makes adefinite impression.
Be aware of and meet all deadlines.
Give your application materials a final review.
Mail application to the proper address with theproper postage affixed (make a copy for yourrecords before mailing application).
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Encourage your student to seek out 10 or more
scholarships to improve his/her odds!
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Contact information:Natalie Ryan
913.780.7800
@OE_Counseling
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