funding college office of financial aid and scholarships clackamas community college
TRANSCRIPT
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Funding College
Office of Financial Aid and ScholarshipsClackamas Community College
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Program AgendaWhat is Financial Aid
Sources/TypesProcessesDeadlines
How to Get HelpScholarships
The Oregon Promise
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Sources of college funds – 2015
5% Relatives & friends
16%Student borrowing
6%Parent borrowing
11%Student income & savings
32%Parent income & savings
30%Scholarships & grants
How the Typical Family Pays for CollegeAverage percent of total cost paid from each source
Source: “How America Pays for College.” Sallie Mae. 2015. https://www.salliemae.com/plan-for-college/how-america-pays-for-college/
3
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What is Financial Aid?Money to help pay for your educational
costs.
Don’t assume you are not eligible for Federal aid!
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Different Types of Financial Aid
GrantsScholarshipsLoansFederal Work-studyInternship/FellowshipInstitution Tuition WaiverEmployee BenefitsVeteran Benefits
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GRANTS
Federal Work-Study
LOANS
Top 3 Federal Aid Programs
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GRANTSFree Money!!Federal
◦Pell Grant◦Supplement Educational Opportunity Grant
State◦Oregon Opportunity Grant ◦Oregon Promise Grant
Colleges and Universities◦Many colleges offer their own need-based grants
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Student and Parent Loans
Money you will have to pay back
Federal Direct Student Loans
PLUS Loans
Alternative Loans
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Federal Work Study Program
On-campus Employment
Off-campus Employment
Internships
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General Federal Financial Aid ProcessTimelines vary from college to college. Understanding how colleges do their processing is imperative.
1) Submit FAFSA Online
www.fafsa.gov2) Federal processor
receives data
3) Student Aid Report sent to Student &
College
4) College will contact you & may need more
information (Indicates your FAFSA was
received, & gives instructions for next steps!)
5) Student sends requested
information to college
(Respond QUICKLY!)
6) Financial Aid Office processes file (Timelines vary– may take
approx. 6 to 12 weeks)*Additional information may
be requested!!!
7) Student receives Award Letter or
College needs further information
(see box 4)
8) Student may need to accept or reject
Award Letter
DON’T FORGET TO… COMMUNICATE:
1. Read your email!!! 2. Log in to college account frequently
3. Check mail and return phone calls
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Seniors, file your FAFSA online starting January 1st,
2016www.fafsa.gov
2017-2018 and beyond, file your FAFSA beginning Oct.
1st 2016!Using 2015 tax information
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What is needed? Student & Parent
Social Security Number and Legal name
Alien registration or permanent resident card o Deferred Action for Childhood Arrivals (DACA)
students do not qualify for FAFSA funds
Driver's license or state ID number
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Most recent federal income tax returns, W-2s, and other records of money earned.
Untaxed income records
Current business and investment information
FSA ID fsaid.ed.gov
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Common FAFSA ErrorsParent information:
◦ SSNs, DOBs, Names◦Unmarried/divorced/remarried
Untaxed income: Veteran’s Disability, Worker’s Comp, Child support received, etc
U.S. income taxes PAID Household sizeNumber in collegeSupporting a childLegal Guardian
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IRS Data Retrieval ***
Available early February of each yearThis is an electronic way to transfer your
tax information
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Special CircumstancesInformation
that cannot be reported on the FAFSA
Send written explanation to financial aid office at college
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Special Circumstances
Change in employment status
Medical expenses not covered by insurance
Change in yours or parent marital status
Unusual dependent care expenses
Student cannot obtain parent information
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Cost of Attendance (C O A)
Tuition and Fees
Room and Board
Books and Supplies
Personal Expenses
Transportation
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Expected Family Contribution (EFC)
EFC = Expected Family Contribution
This is the amount of money the government expects the student and family to pay towards their education.
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How An Award Is Calculated
COA: $ 13,269
- EFC $ 1,500___________Financial Need = $ 11,769 *Colleges “package” financial aid awards
to meet as much of the eligible student’s financial need as possible.
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Most aid is conditional !
Must be seeking Degree or one year Certificate
Must pass courses with at least a 2.0 GPA (“C”)
Must complete courses that aid assists with
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Most aid is conditional !
Some programs/scholarships may require that you maintain a higher GPA
Some programs/scholarships may require full time enrollment
The Oregon Promise Grant will require 2.5 GPA
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FAFSA may be the key to other aid
ScholarshipsTribal FundsVocational
Rehab. FundsJob TrainingState Grants
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NEED HELP?
Clackamas Community College offers a FAFSA Lab!
Monday – Thursday 10 AM – 2 PMRoger Rook Hall, Room 133Staffed by Financial Aid Professionals Hands on environment to help with:
◦Filling out your FAFSA and scholarship searches
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NEED HELP?
1-800-4FED-AIDAny Financial Aid Office
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Scholarships
There is a scholarship out there for everyone!
Major or Program of Study
Academic Merit (GPA) Extracurricular Activities Financial Need
Personal Barriers
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Where to look for scholarships
A great place to start…
Your high school career office!
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Where to look for scholarships
Colleges and UniversitiesHigh School Career/Counseling OfficeThe WEBOrganizationsEmployerWhere you worship
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General Caution: Beware of Scams!
Watch out for fees and guarantees
Never pay for a scholarship, not even an application fee!
Legitimate donors will not ask for an application fee.
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Make a Scholarship List Keep track of all the scholarships you are
applying for; list them by their due dates.
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Application TipsMeet all Deadlines!
Follow the Instructions
Make Copy of the Scholarship Application
Type the application, essay, and any additional information
Fill in all the Blanks
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Scholarship applications requireEssay
Letters of Recommendation
Transcripts
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Create a winning essay!Answer the questionsKeep it simple and focus on the topicDo tell your accomplishmentsUse descriptive wordsKeep it neatDo state your needWrite as though you’re talking to the
selection committeeUse the same essay for multiple applications
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Reference LettersObtain more letters than you needAsk as early ahead of time as
possible!!!!These letters need to be current,
written within the last year.Letters should be on letterhead if
possible and include an original signature.
Thank you to your references!
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Activity ChartSchool/Family/Community ActivitiesResponsibilitiesDatesHonors/Awards/Office HeldPaid Jobs
Get involved!
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The THANK YOU LETTER
Be sure to write a thank you letter to your scholarship
donor.
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Why scholarships are a good investment of your time…
Student invests 10 hours to apply for 10 scholarships and is awarded one for $2,000-That student just earned $200 an hour.
At $9.25 an hour, you would have to work 216 hours to earn $2,000
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A great scholarship programOregon Student Access and Completion (OSAC) Scholarships www.getcollegefunds.org475+ scholarships!More than $15 million availableEarly Bird vs general deadline
◦Feb. 15th 5 PM vs Mar. 1st 5 PMApplication opens early November
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Great scholarship opportunities:Clackamas Community College
Foundation Scholarships$600,000+ in scholarships available
each yearApplication opens January 30th,
deadline March 30th, 2016
www.clackamas.edu/scholarships
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State of Oregon Grants
Oregon Opportunity GrantFile your FAFSA before February 1st! WWW.FAFSA.GOV
Oregon Promise GrantApplication available Nov. 1st 2015WWW.OREGONSTUDENTAID.GOV
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Oregon Promise Grant
Receive an Oregon high school diploma or GED® in Spring/Summer 2016
Oregon resident for at least 12 months prior to community college enrollment
Enroll in community college within 6 months of completing high school or GED®
Cumulative high school GPA of 2.5 or better
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You should apply for:
Grants and ScholarshipsFederal Work-studyInternship/FellowshipLoans
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15-16 Award Year Amount
Pell Grant: $5775SEOG: depending on school (CCC-$1050)Oregon Opportunity Grant: $2100Federal Work-study: depending on school
(CCC-$4500)Direct Loans: $5500-$9500
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What is the website to apply for financial aid (to complete your FAFSA)?
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What should you apply for first?
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Questions… and Thank you!
Office of Financial Aid and ScholarshipsChippi Bello, Director