1 / 58

How To Pay For College Presented in Partnership by: The Arkansas Student Loan Authority and The Arkansas Department of

How To Pay For College Presented in Partnership by: The Arkansas Student Loan Authority and The Arkansas Department of Higher Education. Types of Financial Aid. Gift aid: Grants and Scholarships (need-based or merit-based)

dugan
Télécharger la présentation

How To Pay For College Presented in Partnership by: The Arkansas Student Loan Authority and The Arkansas Department of

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How To Pay For College Presented in Partnership by: The Arkansas Student Loan Authority and The Arkansas Department of Higher Education

  2. Types of Financial Aid • Gift aid: Grants and Scholarships (need-based or merit-based) • Self-help aid: Loans and Employment (need-based or non need-based)

  3. Federal Student Aid • Free Application for Federal Student Aid FAFSA

  4. Federal Student Aid • www.pin.ed.gov

  5. Federal Student Aid www.fafsa.ed.gov

  6. Who Can Get Federal Student Aid? • U.S. citizen or (usually) permanent resident • Valid Social Security number • Males registered for Selective Service • High school graduate/GED holder • Eligible degree/certificate program • Satisfactory academic progress

  7. How Much Federal Student Aid Can You Receive? In general, it depends on your financial need. • Cost of Attendance (COA) is tuition, fees, room and board, transportation, etc. • Expected Family Contribution (EFC) is determined from the information reported on the Free Application for Federal Student Aid (FAFSA) Financial Need = COA – EFC

  8. Free Application for Federal Student Aid (FAFSA) • Paper Application at Student’s request • 2 - 3 weeks process time • On-line (www.fafsa.gov) • 72 Hours • Personal Identification Number (PIN) (www.pin.ed.gov)

  9. Free Application for Federal Student Aid (FAFSA) • Use FAFSA on the Web Worksheet to prepare. (Optional) • Download a copy of the worksheet at: www.FederalStudentAid.ed.gov/worksheet • Use the checklist to gather documents you need. • Fill out worksheet to prepare your answers prior to completing the FAFSA on the web

  10. Federal Student Financial Aid Programs • Federal Pell Grant • Federal Supplemental Educational Opportunity Grant (FSEOG) • Teacher Education Assistance for College and Higher Education (TEACH) • Academic Competitiveness Grant • National SMART Grant • Federal Work-Study Program

  11. Federal Student Financial Aid Programs • Federal Perkins Loan • Federal Subsidized Stafford Loan • Federal Unsubsidized Stafford Loan • Federal PLUS Loan • Federal Graduate PLUS Loan

  12. Independent Student Definition • At least 24 years old by Dec. 31 of award year • Graduate or professional student • Married • Provides more than half support for dependents • Orphan or ward/dependent of the court • Veteran of U.S. Armed Forces • Determined to be “independent’ by financial aid administrator based on unusual circumstances

  13. Step 1: Federal Student Aid • Collect the documents needed to apply for federal aid. A full list of what you need is at www.fafsa.gov.

  14. Step 2: Federal Student Aid • Complete the 2013-2014 FAFSA between January1, 2014, and June 30, 2014. • Apply as soon as possible after January 1 to meet school and state aid deadline. • Apply at www.fafsa.gov.

  15. Step 3: Federal Student Aid • The U.S. Department of Education will send you your Student Aid Report (SAR) – the result of your FAFSA. • Review your SAR and, if necessary, make changes or corrections and submit your SAR for reprocessing. • Your complete, correct SAR will contain your Expect Family Contribution (EFC) – the number used to determine your federal student aid eligibility.

  16. Step 4: Federal Student Aid • The school that you plan to attend might request additional information from you. • Be sure to respond by any deadlines. • The school will send you an award letter on how much aid you can get at that school.

  17. Step 5: Federal Student Aid • Review award letters from schools and compare amounts and types of aid being offered. • Decide which school to attend based on a combination of (a) how well the school suits you needs and (b) its affordability after all aid is taken into account.

  18. IRS Data Retrieval Tool • The IRS Data Retrieval Tool allows students and parent to access the IRS tax return information needed to complete the FAFSA, and transfer the data directly into their FAFSA From the IRS Website. • If you choose not to use the IRS Data Retrieval Tool to retrieve tax information, your school may require a copy of your IRS Tax Return Transcript.

  19. www.fafsa4caster.ed.gov www.fafsa4caster.ed.gov

  20. Cost of Attendance • Tuition, fees, room & board • Books, supplies, transportation, & misc. personal expenses, including documented cost for a personal computer • Loan fees • Study abroad or cooperative program costs • Dependent care expenses • Disability-related expenses

  21. Scholarship Searches

  22. Tips for Successful Scholarship Searches • Create a Scholarship Deadline calendar • Start the process two years before you need aid • Remember you will be applying for scholarships one year before you actually receive the aid • Maintain good grade average • Take or retake ACT/SAT

  23. Standardized Test Preparation www.number2.com www.march2success.com

  24. Tips for Successful Scholarship Searches • Design a Personal Resume to market yourself • Create a portfolio or video • List participation in campus & community leadership and civic activities • Identify qualities that make you distinct • Physical conditions or family situations may have a corresponding scholarship

  25. Scholarship Resources • Financial Aid Officer • Scholarship Office • Guidance Counselor • Public Library • Civic Organizations • Church • Corporations & Businesses • Internet • Free Online Searches • Set Up Google Alerts

  26. www.fundmyfuture.info

  27. Scholarship Application Process • Read all eligibility & requirement information; ask questions if necessary • Gather all required information • Know deadlines • Double check completed application • Ask someone to proofread applications & essays • Send completed application (& essays )

  28. YOUniversalFinancial Aid System One location where you answer a few questions to see what programs might be available to you from all Arkansas state and lottery funded scholarships, grants and loan reimbursements:

  29. Apply at ADHE.EDU for State Financial Aid Click Here to Apply Click Here for a Listing of Scholarships, Rules, and Contact Information

  30. APPLY AND CHECK STATUS UPDATES ON THE GO

  31. YOUNIVERSAL Application Homepage

  32. Examples of the Actual Questions

  33. Example Search Results

  34. IMPORTANT: Use An Active Email Account

  35. Arkansas State Scholarships & Grants • AR Academic Challenge Scholarship • AR Governor’s Scholars Program • High Education Opportunities Grant

  36. Academic Challenge Scholarship • The Basics: • Mostly funded by lottery proceeds • Open to ALL: Scholarship may be used by Traditional, i.e. incoming high school students, and all other students • No income limits but must file FAFSA as part of the application process • Scholarship is for those enrolled in a first baccalaureate, associate, qualified certificate, or nursing diploma program

  37. How To Qualify As A High School Senior • If graduating from an Arkansas public high school: • Complete Smart Core • 2.5 high school GPA or 19 composite ACT score (or equivalent test) • Score proficient on all mandated end-of-course exams • Arkansas public high school students with disabilities who did not complete Smart Core due to IEP: • 2.5 high school GPA and • 19 Composite ACT score or • Score proficient on all mandated end-of-course exams • An Arkansas resident graduating from a private, out-of-state high school, or home school must attain a 19 ACT (or equivalent test).

  38. How To Keep Your Scholarship • Enroll full-time (12 semester hours first semester and 15 semester hours thereafter) • Maintain a 2.50 cumulative GPA • Complete 27 semester hours the first academic year and 30 semester hours each year thereafter • Complete all remedial coursework during the first 30 hours taken after receipt of the scholarship • Enroll in courses that lead toward a Bachelor’s degree after attempting the lesser of: • 66 semester hours • Completion of an associate degree program • Renewed annually until recipient first: • Earns Bachelor’s degree • Attempts a total of 130 semester hours in 8 semesters

  39. Academic Challenge Key Points • Deadline for all categories – both spring and fall semester – is June 1st • Students receiving the Academic Challenge Award: 4 Year Institutions $2,000 freshman year $3,000 sophomore year $4,000 junior year $5,000 senior year 2 Year Institutions $2,000 freshman and sophomore year • Previous recipients of the scholarship will continue to receive the amounts stipulated in their original award. • Most answers, including an FAQ sheet, can be found on the www.adhe.edu website

  40. Governor’s Scholars Program • Scholarship programs that encourages Arkansas’s best & brightest high school students to remain in Arkansas for their college education Governor’s Distinguished Scholarship (up to $10,000 per year) • 32 ACT or 1410 SAT; and • 3.5 academic GPA; or • National Merit or National Achievement Finalist • Up to three hundred (300) new Governor’s Distinguished Scholars awards may be awarded each year. • Deadline to apply is February 1st. Governor’s Scholarship (up to $4,000 per year) • 27 ACT or 1220 SAT; or • 3.5 academic GPA • Students ranked based on Test Score, GPA, Rank In Class & Leadership • Awarded to one (1) student per Arkansas county • Must be a graduate from an AR H.S. (Provision not required for Distinguished.) • Deadline to apply is February 1st.

  41. Higher Education Opportunities Grant • The Arkansas High Education Opportunities Grant (GO! Grant) is awarded based on financial need and is intended to help disadvantaged students complete their college degree. • Award Amounts: • Full Time = Up to $1,000 annually • Part-time = Up to $500 annually • (Lifetime Maximum Award: $4,000)

  42. Higher Education Opportunities Grant • Other Eligibility Criteria: • Must complete the FAFSA each year • Must be an undergraduate student • Must not have received a baccalaureate degree • Must be enrolled in an associate degree, baccalaureate degree, or approved certificate program • Must maintain a 2.0 college GPA and continue to meet the need criteria • Application Deadline – June 1st

  43. Other ADHE Scholarship Programs That Make College More Affordable • State Teacher Education Program (STEP) • Teacher Opportunity Program (TOP) • Nurse Educator Loan • Nurse Practice • Arkansas Health Education Grant • Second Effort Scholarship • Workforce Improvement Grant • Student Undergraduate Research Fellowship • Washington Center Scholarship

  44. Other ADHE Scholarship Programs That Make College More Affordable State Teacher Education Program (STEP) • Offers loan repayment grants to current educators teaching in a subject or geographic shortage area in an Arkansas public school.

  45. Other ADHE Scholarship Programs That Make College More Affordable Nurse Educator Loan: • Provides forgivable loans to students pursuing a course of study leading to qualification as a nurse educator. Funding and awards are made through the Arkansas State Board of Nursing. • Awards $5000/year *Must go full-time; Lifetime maximum: $20,000 Nurse Practice: • Provides students pursuing a course study as registered nurse (RN) or licensed practical nurse (LPN) financial assistance. Must attend an institution approved by ADHE; and one must practice full-time in a registered nurse or licensed practical nurse program. • Awards $3000/year full-time; Lifetime maximum: $12,000 $1,000/year part-time

  46. Other ADHE Scholarship Programs That Make College More Affordable Arkansas Health Education Grant • Provides financial assistance to students seeking professional training in chiropractic medicine, dentistry, optometry, osteopathic medicine, podiatric medicine, and veterinary medicine to allow them to attend out-of-state institutions. Second Effort Scholarship • Up to $1000 annually to the individuals with the top 10 scores on the GED exam during the previous calendar year. Renewable for up to 3 years. Workforce Improvement Grant • Awards up to $2k annually to students at least 24 years old based on financial need. Awards are made by the attending institution.

  47. Other ADHE Scholarship Programs That Make College More Affordable Student Undergraduate Research Fellowship • Designed to allow undergraduate student to conduct research projects in their specific fields of study with the assistance of faculty mentors. Washington Center Scholarship • A program that awards scholarships to Arkansas students who are accepted to the Washington Center for Internships and Academic Seminars. Program implementation is in Washington, D.C.; award amounts are up to $6,000 per pupil.

  48. ADHE Website and E-mail Address www.adhe.edu Financial Aid Division Or send an email to: finaid@adhe.edu

More Related