Presentation Transcript

1. Financial Aid

   Understanding the basics Terri Crawford Assist. Director of Financial aid
2. Basic Definitions Merit Aid/Scholarships: funds awarded based on academic qualifications or talent Grants: funds awarded based on financial “need” Self-help: Employment programs Loans
3. Merit Scholarships at George Fox Automatically awarded at time of admission to all who qualify Updates to GPA or test scores must be submitted by February 1
4. Academic Competitive Scholarships Students must have admission application completed by GFU by December 1, 2012 Competition held February 8/9, 2013 Awards in each area: 1st place: $16,000 ($4,000 per year) 2nd place: $12,800 ($3,200 per year) 3rd place: $10,000 ($2,500 per year)
5. Academic Competitive Scholarships Accounting Art Studio Graphic Design Athletic Training Biblical Studies/Christian Ministries Biology Business Administration Chemistry Cinema/Media Communication Communication Arts Computer Science and Information Systems Economics Education - Music Engineering Civil/Mechanical Electrical/Computer English Family/Consumer Science Foreign Languages Health/Human Performance History International Studies Math Music Vocal Instrumental Nursing Philosophy Political Science Psychology Sociology Social Work Theatre
6. Leadership Awards Presidential Leadership Awards Miller Leadership Awards Multi-cultural Leadership Awards Friends Leadership Awards Interviews take place on February 8, 2013 Awards range in size from $2,000 - $20,000 per year
7. Artistic Achievement and Participation Awards Forensics (speech and debate) Music (vocal and instrumental) Theatre Awards range from $1,000 - $1,500 per year
8. Financial “Need” Based Funds How is “need” calculated? File FAFSA as soon as possible after January 1 Federal formula calculates the Expected Family Contribution (EFC) Each school outlines their Cost of Attendance (COA), which includes direct billed costs (tuition, fees, room and board) and in-direct costs (books, supplies, transportation, personal, etc.) Cost of Attendance minus Expected Family Contribution equals “Need”
9. Financial “Need” Based Funds Federal Grants are determined by FAFSA Pell Grant Supplemental Educational Opportunity Grant State Grants Oregon Opportunity Grant (to be eligible file FAFSA by 2/1/12) Institutional Grants George Fox Need Grant Awards of Circumstance Designated/Endowed Awards University Matching Funds for church scholarships.
10. Self Help Funds Federal Student Employment Campus/community jobs Minimum wage (approximately $2300 per award year) 10 hours per week Federal Loan Programs Subsidized Stafford Unsubsidized Stafford Perkins PLUS (Parent Loan for Undergraduate Students)
11. George Fox Award More than $33 million awarded Average award of $24,701 annually
12. Comparing Awards
13. Payment Options Lump sum payment prior to start of each semester Semester payment plan $35 fee per semester which is waived for early enrollment. 0% interest
14. Q & A
15. Web Resources George Fox University scholarship.georgefox.edu www.georgefox.edu/offices/stu_fin_srv/index.html Other Resources www.oregonstudentaid.gov/scholarships for Oregon residents attending Oregon colleges. www.fastweb.com www.scholarships.com