Paying for College By: Yaw Opoku-Boakye and Samuel Asante S - - PowerPoint PPT Presentation
Paying for College By: Yaw Opoku-Boakye and Samuel Asante S Overview Facts S 2015 Average Student loan debt = $35,000 S 2015 Average Median Income = $45,000 S Misconceptions & Truth S Grants & Scholarships S Where
By: Yaw Opoku-Boakye and Samuel Asante
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Facts
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2015 Average Student loan debt = $35,000
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2015 Average Median Income = $45,000 S
Misconceptions & Truth
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Grants & Scholarships
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Where to look
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Key words & search phrases
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Samples S
Employments & Assistance Programs
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On Campus & Off-Campus Acts 7: 22 “And Moses was instructed in all the wisdom of the Egyptians, and he was mighty in his words and deeds
S “Scholarships are for high school seniors going to college”
S Truth: You are behind if your search for scholarship begin during
your senior year.
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Jif (Peanut butter company) hosts a $25,000 scholarship contest each year for students between the ages of 6 and 12
S Link: http://www.jif.com/promotions/most-creative-peanut-butter S
Kohl’s provide scholarships of $1,000 - $10,000 each for students in elementary school thru high school
S “My parents make too much money, I can’t get scholarships”
S Truth: Families with a median income of $50,000 - $100,000 are
more likely to win scholarships. S “My grades are good enough to get me a full ride”
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Truth: Each year, roughly 0.3% of 20,000 student (includes student athletes) earn full rides to universities which cover all costs.
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Most students pay for college through the combination of multiple grants, scholarships and loans.
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Key Terminologies
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Grants: Money given by an organization, individual or government for a purpose
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You will not need to pay this money back S
Loans: Same definition as the grant
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YOU WILL PAY THIS AMOUNT BACK possibly with Interest.
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Subsidized
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Unsubsidized S
Free Application for Federal Aid (FAFSA) – Apply early
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Access to federal grants & financial aid
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Apply every year you are in college
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Estimated family contribution (EFC)
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Parents: Tax Complications & Fraud
S “First generation college student” S “Scholarship for minorities” S “Major based scholarship” S “Company based scholarship” S “Christian students scholarships” S “Parents going back to school scholarships” S “Single parents scholarships”
S Differs from State to State
S Howard P Rawlings Guaranteed Access Grant
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Need based
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Undergraduate Study
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Renewable for three years (If requirements are met)
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Award varies upon financial need of student and cost of attendance up to $19,000 per year
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For more Info: http://www.mhec.state.md.us/financialAid/ ProgramDescriptions/prog_ga.asp
S Graduate and Professional Scholarship Program
S Need based S Eligible Programs: Dentistry, law, Pharmacy or Social Work S Awarded to student in specific schools S $1000-$5000 per year S For more Info:
http://www.mhec.state.md.us/financialAid/ ProgramDescriptions/prog_gradprof.asp
S Others Include
S Howard P. Rawlings Education Assistance Grant: $400-$3000 S Maryland Delegate Grant: $200 - $19,000 S Maryland Senatorial Grant: $400 - $10,100 S Workforce Shortage Student Assistance Grant: $1000-$4000
For more Info: http://www.collegescholarships.org/states/maryland.htm
S Virginia Tuition Assistance Grant
S Eligibility: Undergrad and Graduate S Maintain full – time enrollment S Amount: $1,300 - $2,800
S Virginia Guaranteed Assistance Program
S Community College & 4 – year institutions S US Citizen S Renewable S Based on need: Can cover full tuition or cost of attendance S More info:
http://www.collegescholarships.org/states/virginia.htm
S Tips
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Start early: It is never too early to look for scholarship while you’re in HS.
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Build relationship with counselors, and career advisors.
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Do not be afraid to ask. S
Learn to write excellent essays
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There are numerous essay competition for HS freshmen, sophomores, and juniors with financial awards S
SAT scores & GPA
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Good SAT scores, open up more opportunities for merit based scholarships S
Join Clubs!
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FBLA, DECA, NSBE, College Pathway
S Naviance (family connections)
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Get exposed to local scholarships
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Usually get access through your school.
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Less Competitive (fewer applicants)
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Need based > Merit
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Access through you school login info/ portal S Unigo.com
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Offers National scholarships for minorities
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Undergrad, Graduate & Doctoral
S Correlation of Black Trade Unionist
S Eligibility: Undergraduate S $2000 non-renewable S Minimum of 10 awards annually
S National Society of High School Scholars Foundation
S Eligibility: Undergraduate S $1,000 non renewable S Minimum of 10 awards annually
S I’m First Scholarship
S Eligibility: Undergraduate – First Generation S $2,000 Renewable S Essay required (10 Awards /year)
S Ron Brown Scholar Program
S Eligibility: Undergraduate S $10,000 renewable S Approx. 20 awards annually
S Academic Common Market
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Pay In-state tuition for selected out of state schools
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Based on your major not being offered in your home state
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For undergraduate, graduate and doctoral programs S National Societies
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National Society of Black Engineer (NSBE)
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Major Specific Organizations: SPE, AAHAM, DECA etc. S Diversity & Department Scholarship
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Check with your University for unadvertised diversity and departmental scholarships
S Xerox Minority Scholarships: $1,000 - $10,000 S Burger King Scholar Program: $1,000 S Coca – Cola Leaders of Promise: $1,000 S Dell Scholar Program: Up to $20,000 S Apple FCU Education Foundation: $5,000 S Dominion Diversity Scholarship: $5,000 + Paid Internship S Chesapeake Energy Scholarship; Up to $20,000
S Off Campus Jobs
S Community Assistants Programs (off Campus)
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Usually pays for your rent off campus S Franchise positions
S Restaurants S Hotels S Rec Centers S Gyms
S Paid Internships & Research
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In your field of study or campus
S On Campus Jobs
S Work Study
S Given through financial aid (FAFSA) S Know your rights and responsibilities.
S Residence Assistant (RA) & Wellness Coordinators
S Pays for room and Board
S Graduate (RA)
S Graduate Assistants
S Not only major, specific Look into university offices
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Unigo
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https://www.unigo.com/ S
College Board
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https://bigfuture.collegeboard.org/scholarship-search S
Scholarships
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https://www.scholarships.com/main.aspx S
Grants & Scholarship Connections
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http://www.collegescholarships.org/ S
Unclaimed Scholarships
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http://www.financialaidfinder.com/
S Correlation of Black Trade Unionist
S http://www.cbtu.org/bell%20ball.html
S National Society of High School Scholars Foundation
S http://nshssfoundation.org/scholarships/
S I’m First Scholarship
S http://www.imfirst.org/scholarship/
S Ron Brown Scholar Program
S https://www.ronbrown.org/section/apply/program-description
S Xerox Minority Scholarships: $1,000 - $10,000
S http://www.xerox.com/jobs/minority-scholarships/enus.html
S Burger King Scholar Program: $1,000
S https://www.scholarshipamerica.org/burgerkingscholars/
S Chesapeake Energy Scholarship; Up to $20,000
S http://www.dallasfoundation.org/ForStudents/
DallasFoundationScholarships/tabid/215/Default.aspx
S Coca – Cola Leaders of Promise: $1,000
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https://www.ptk.org/Default.aspx?TabID=3646 S Dell Scholar Program: Up to $20,000
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http://www.dellscholars.org/ S Apple FCU Education Foundation: $5,000
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https://www.afcufoundation.org/ S Dominion Diversity Scholarship: $5,000 + Paid Internship
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https://www.dom.com/corporate/careers/students/scholarships/ diversity-scholarship-program