Paying for College 2018-2019 Todays Questions What do we need to - - PowerPoint PPT Presentation

2018-2019

Paying for College

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Today’s Questions

• What do we need to do?
• How will we pay for this?

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Today’s Questions

• We know what to do
• We know what steps to take
• We have a plan to pay for

college

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Agenda

• College costs
• Financial aid
• Financial aid applications
• Timeline and action items
• Help when you need it

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College Costs

• Community colleges
• $5,093 tuition; $13,826 total
• Public colleges and universities
• $10,797 tuition; $26,046 total
• Private colleges and universities
• $41,576 tuition; $55,996 total

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College Cost of Attendance (COA)

• Tuition and fees
• Room and board
• Books and supplies
• Transportation
• Personal
• S

tudy abroad*

• Computer purchase*

*Can include with the permission of the financial aid office

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Y

• u Are in Charge
• Direct cost: Money you pay to the college
• Indirect cost: Money you spend (or don’ t

spend) independent of the college

• COA is an AVERAGE—

your expenses will vary

• Create your own COA

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Net Price Calculator

• Required by the U.S

. Department of Education

• S

hows standard COA minus “ your” financial aid

• S

chools’ current award policies

• Y
• ur income, assets, household size
• Optional: GP

A and test scores for merit- based aid

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Agenda

• College costs
• Financial aid
• Financial aid applications
• Timeline and action items
• Help when you need it

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Financial Aid Programs

• Gift aid
• Grants
• S

cholarships

• S

elf-help

• Work-study
• Loans
• All of these can be need-based or merit-based

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Federal Grants Page 19

• Federal grants
• Pell Grant
• FS

EOG

• TEACH Grant
• Iraq and Afghanistan

S ervice Grant

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State of Oregon Grants Page 31

• Oregon Opportunity Grant
• Oregon Promise

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Institutional Funds

• Y
• ur college or university
• Grants
• S

cholarships

• Different awarding criteria

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Scholarships Pages 21 and 31

• High school scholarships
• Community scholarships
• College and university scholarships
• National scholarships

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Searching for Scholarships

• AS

K EVER YONE!

• Relatives, neighbors
• High school counselors
• Employers
• GetCollegeFunds.org
• Collegegreenlight.org
• S

cholarships.com

• Naviance or ORCIS

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Work-Study Page 20

• Federal Work-S

tudy Program

• Institutional work-study
• Y
• u are a student first
• Work shouldn’ t interfere with

your studies

• Time management
• Dead week and finals week

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Loans Page 20

• Federal student loans
• Direct S

ubsidized Loans

• Direct Unsubsidized Loans
• Federal parent loans
• Direct PLUS

Loans

• Interest Rates 2018-2019
• Undergraduate sub and unsub: 5.05%
• PLUS

: 7.60%

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Other Ways to Pay for College

• S

avings

• AmeriCorps
• Military S

ervice

• ROTC
• Reserves
• National Guard
• Parent’s GI Benefits

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Agenda

• College costs
• Financial aid
• Types of financial aid applications
• Timeline and action items
• Help when you need it

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Types of Financial Aid Applications

• Free Application for Federal S

tudent Aid (F AFS A)

• Oregon S

tudent Aid Application(ORS AA)

• CS

S Profile

• S

cholarship Applications

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Free Application for Federal S tudent Aid (www.F AFS A.gov)

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Federal Student Aid ID (FSA ID)

• FS

AID.ed.gov

• S

tudent and at least one parent get an FS A ID

• Used for F

AFS A

• Used for student loans

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IRS Data Match with FSA ID

S

• urce: Federal S

t udent Aid. Fsaid.ed.gov.

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IRS Tax Transcript

S

• urce: Int ernal Revenue S
• erivice. www.irs.gov.

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Oregon S tudent Aid Application (ORS AA)

S

• urce: Oregon Office of S

t udent Access and Complet ion. "Oregon S t udent Aid Applicat ion (ORS AA) Pre-Filt er Tool” ht t p:/ / oregonst udent aid.gov/ PublicTools/ FinancialAid/ PreFilt er.

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F AFSA and ORSAA Sections

• S

tudent demographics

• S

tudent plans

• S

tudent colleges

• S

tudent income

• S

tudent assets

• Parents’ income
• Parents’ assets
• S

ignatures

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Financial Aid Parents

S

• urce: Oregon Goes t o College.” Who Is My Financial Aid Parent ?

” ht t p:/ / oregongoest ocollege.org/ sit es/ default / files/ ccc/ financialaidparent handout .pdf.

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Financial Aid Expert Chat

http://oregongoestocollege.org/finaid-help

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Not Financial Aid Parents (Unless They Have Adopted Student)

Widowed S t epparent Grandparents Fost er Parent s Legal Guardians Older Brot hers

• r S

ist ers Aunt s or Uncles

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Common F AFSA Rej ects Nationally

• Confusing student and parent information
• Entering information that doesn’ t match with

S

• cial S

ecurity Database

• Amount of federal income tax
• Not signing the F

AFS A form

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CSS Profile

S

• urce: CollegeBoard. “ CS

S Profile.” ht t ps:/ / cssprofile.collegeboard.org.

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CSS Profile

• CS

S Profile website: https:/ / cssprofile.collegeboard.org

• Application Fees
• First submission: $25
• Additional submissions: $16 each
• Waivers are available
• Non-custodial parent information
• Additional income and asset information

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OSAC Scholarship Application Page 31

S

• urce: Oregon Office of S

t udent Access and Complet ion. “ OS AC S t udent Port al.” ht t ps:/ / app.oregonst udent aid.gov.

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Additional Financial Aid Paperwork

• Verification
• Provide documentation of F

AFS A answers

• Roughly 30%
• f students selected
• Loan entrance counseling
• Online information about loan rights and responsibilities
• Loan promissory notes
• S

igning for a loan online

• Master Promissory Note: Up to 10 years

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Agenda

• College costs
• Financial aid
• Types of financial aid applications
• Timeline and action items
• Help when you need it

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September Timeline

 Attend financial aid night  F

AFS A filers: Create FS A IDs

 ORS

AA filers: Find your 2017 tax return

 Verify names and numbers on S

• cial S

ecurity cards

 Have a family financial aid talk

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Family Financial Aid Discussion

Parent(s):

• How much can you pay

from savings?

• How much can you pay

from earnings?

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Family Financial Aid Discussion

S tudent:

• How much are you

earning?

• How much are you saving?
• How many potential

scholarships?

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Family Financial Aid Discussion

• How much are you willing to

borrow?

• Can you increase

savings/ decrease spending?

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October Timeline

 Complete F

AFS A or ORS AA

 Experiment on Net Price

Calculators

Complete Oregon Promise

application

 www.oregonpromise.org Y

es, even if you don’ t intend to go to a community college

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November Timeline

Narrow your college choices to no more than six to 10 Do any of your schools require the CSS Profile?

Now’s the time to do it!

Take Thanksgiving weekend to perfect any scholarship or

admission essays

Respond to any communicat ion you receive from a financial aid

• ffice

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December Timeline

 Use your winter break to apply to your

colleges and universities— during finals week, you’ ll be so glad you did this

 Research scholarships  Apply for scholarships

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Agenda

• College costs
• Financial aid
• Types of financial aid applications
• Timeline and action items
• Help when you need it

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Help When Y

• u Need It
• High school counselors
• College and career center
• 800-4-FED-AID
• http:/ / oregongoestocollege.org/ finaid-help
• www.bigfuture.org
• https:/ / oregongearup.org

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Contact Us

The College Place-Oregon Portland Community College S ylvania Campus Jennifer S atalino j satalino@ ecmc.org 971-722-4493

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S ign Up to Receive Targeted and Timely Information

https:/ / tinyurl.com/ ECMCTCP