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 to look S Key words & search phrases S Samples S Employments & Assistance Programs S On Campus & Off-Campus S Acts 7: 22 “And Moses was instructed in all the wisdom of the Egyptians, and he was mighty in his words and deeds
Misconceptions & Truth 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. Jif (Peanut butter company) hosts a $25,000 scholarship contest each S year for students between the ages of 6 and 12 S Link: http://www.jif.com/promotions/most-creative-peanut-butter Kohl’s provide scholarships of $1,000 - $10,000 each for students in S elementary school thru high school
Misconceptions & Truth 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” Truth: Each year, roughly 0.3% of 20,000 student (includes student S athletes) earn full rides to universities which cover all costs. Most students pay for college through the combination of multiple S grants, scholarships and loans.
Grants Key Terminologies S Grants: Money given by an organization, individual or government for a purpose S You will not need to pay this money back S Loans: Same definition as the grant S YOU WILL PAY THIS AMOUNT BACK possibly with Interest. S Subsidized S Unsubsidized S Free Application for Federal Aid (FAFSA) – Apply early S Access to federal grants & financial aid S Apply every year you are in college S Estimated family contribution (EFC) S Parents: Tax Complications & Fraud S
Search Phrases 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”
State Grants: MD S Differs from State to State S Howard P Rawlings Guaranteed Access Grant Need based S Undergraduate Study S Renewable for three years ( If requirements are met ) S Award varies upon financial need of student and cost of S attendance up to $19,000 per year For more Info: S http://www.mhec.state.md.us/financialAid/ ProgramDescriptions/prog_ga.asp
State Grants: MD 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
State Grants: MD 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
State Grants: VA 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
Scholarships S Tips Start early: It is never too early to look for scholarship while you’re in HS. S Build relationship with counselors, and career advisors. S Do not be afraid to ask. S Learn to write excellent essays S There are numerous essay competition for HS freshmen, sophomores, and S juniors with financial awards SAT scores & GPA S Good SAT scores, open up more opportunities for merit based scholarships S Join Clubs! S FBLA, DECA, NSBE, College Pathway S
Scholarships: Where? S Naviance (family connections) Get exposed to local scholarships S Usually get access through your school. S Less Competitive (fewer applicants) S Need based > Merit S Access through you school login info/ portal S S Unigo.com Offers National scholarships for minorities S Undergrad, Graduate & Doctoral S
Scholarships: Unigo.com 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
Scholarships: Unigo.com 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
Organizations & Programs S Academic Common Market Pay In-state tuition for selected out of state schools S Based on your major not being offered in your home state S For undergraduate, graduate and doctoral programs S S National Societies National Society of Black Engineer (NSBE) S Major Specific Organizations: SPE, AAHAM, DECA etc. S S Diversity & Department Scholarship Check with your University for unadvertised diversity and departmental S scholarships
Corporate 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
Employment S Off Campus Jobs S Community Assistants Programs (off Campus) Usually pays for your rent off campus S S Franchise positions S Restaurants S Hotels S Rec Centers S Gyms S Paid Internships & Research In your field of study or campus S
Employment 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
Scholarship Websites Unigo S https://www.unigo.com/ S College Board S https://bigfuture.collegeboard.org/scholarship-search S Scholarships S https://www.scholarships.com/main.aspx S Grants & Scholarship Connections S http://www.collegescholarships.org/ S Unclaimed Scholarships S http://www.financialaidfinder.com/ S
Referenced Aid Links 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
Referenced Aid Links 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
Referenced Aid Links S Coca – Cola Leaders of Promise: $1,000 https://www.ptk.org/Default.aspx?TabID=3646 S S Dell Scholar Program: Up to $20,000 http://www.dellscholars.org/ S S Apple FCU Education Foundation: $5,000 https://www.afcufoundation.org/ S S Dominion Diversity Scholarship: $5,000 + Paid Internship https://www.dom.com/corporate/careers/students/scholarships/ S diversity-scholarship-program
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