Welcome! Anita Hilton, School Counselor Learning Target Families - - PowerPoint PPT Presentation
Welcome! Anita Hilton, School Counselor Learning Target Families will increase their understanding of the financial aid process and resources to help to access a college education. College A place of higher learning after high school
Anita Hilton, School Counselor
A place of higher learning after high school that provides education and grants degrees or certification.
Universi ersiti ties es 4 Year Colleges Community ity Colleges Trade Schools
Graduating from college can double one’s
than a high school diploma.
than a high school diploma.
than a Bachelor’s degree.
$2.9 million more than a Bachelor’s degree.
Source: fastweb.com College Facts Presentation
Unemployment Decreases with More Education
Source: fastweb.com College Facts Presentation
Other Benefits of College Education
AVM’s Annual College Connections Café Partnership with and donations from colleges near and far!
Students, as you plan to go to college
There are lots of things to think about and many questions you need to ask.
Source: www.isac.org
Tuition & Fees Room & Board (housing/food) Transportation Books & Supplies
Miscellaneous Living Expenses
Cost of Attendance (COA) The COA will differ from college to college
What are the costs?
Source: www.isac.org
Net Price Definition:
college
federal tax credits and deductions.
Looking beyond the “Sticker Shock”
Recognize the difference between:
college Net price gives a more realistic idea of the actual cost of a college
Source: fastweb.com College Facts Presentation
loans
Ways to Pay for College
Source: www.isac.org
borrowed, given, or earned money that can be obtained from various sources to help pay for college.
difference between what your family can afford to pay and what college costs. Financial aid helps to makes college affordable
What is financial aid?
If you think you can’t afford college, think again. There is aid out there.
Source: www.isac.org
Myth: Only students with the best grades qualify for financial aid.
Facts:
is, they are awarded based on a student’s academic performance.
based,” that is, awarded based on a family’s ability to pay for college.
Source: Realizing the College Dream http://outreach.berkeley.edu
Myth: I am going to be the only student on financial aid.
financial aid.
receive some form of financial aid.
you receive financial aid.
Source: Realizing the College Dream http://outreach.berkeley.edu
Funds may be merit-based, need-based,
Types of Financial Aid
gift-aid self-help aid
Grants: usually based on family’s financial need Scholarships: may be awarded for
academic achievement, athletic ability, artistic talent, one’s background, or other attributes
Work-Study: All funds must be earned with
part time employment to pay for various educational costs
Loans: Aid that must be repaid
Source: www.isac.org
Financial aid comes from a variety of sources.
Sources of Financial Aid
college (institutional aid)
private sources federal government state Government
Source: www.isac.org
Federal financial aid programs are administered by the U.S. Department of Education. In Illinois, state and some federal financial aid is administered by the ISAC. Colleges offer their
aid, so check with their financial aid
specific
Many organizations and corporations, award scholarships to college students.
Note: Communicate with each college to find out what is required for a complete application.
To be considered for student aid, a student must complete all forms required by a college.
How to Apply
Free Application for Federal Student Aid
(FAFSA)
www.fafsa.gov
Institutional Forms Other
as required
Source: www.isac.org
Free Application for Federal Student Aid (FAFSA)
year of high school, or ASAP after that date.
WHEN
adults
WHO
HOW
programs
institutional aid
WHY
Source: www.isac.org
Each student’s FAFSA is analyzed using a formula established by Congress.
determines the amount that you and your family are expected to contribute towards your college education in an academic year.
Contribution (EFC).
for most state and federal assistance
Expected Family Contribution
EFC
Expected Family Contribution
Source: www.isac.org
Cost of Attendance
(COA)
Expected Family Contribution
(EFC)
Financial Need
How much aid can a student receive? This is determined at each college you apply to:
Financial Need
Source: www.isac.org
This differs depending on the college This remains constant This varies depending on the COA
College
Three Examples
COA
(Cost of Attendance)
EFC
(Expected Family Contribution)
Financial Need
College Financial Aid
to attempt to close the gap between what you can afford to pay and the remaining cost
$3,000 $10,000 $7,000 $3,000 $20,000 $17,000
=
$3,000 $35,000 $32,000
College
College
Source: www.isac.org
Myth : Only rich kids go to elite, expensive schools
the easier it is to demonstrate financial need.
private colleges are, on average, lower than incomes of students at large state universities.
Source: Realizing the College Dream http://outreach.berkeley.edu
As a Senior in High School
each college showing:
are offering you
isac.org
Myth: I need to pay a service to find scholarships for college.
applications are free.
scholarship.
account numbers to scholarship providers.
students under 13
need In HS: use a free online scholarship match service like www.Fastweb.com.
a very large database of scholarships, so you will see only those scholarships for which you are qualified.
The H.S. counseling department will have a list of local scholarships too.
One site: multiple tools from the U.S. Department of Education
Source: Collegecost.ed.gov
If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the highest return.
– Benjamin Franklin
Source: www.fastweb.com
Resources used in this PowerPoint:
Illinois Student Assistance Commission – ISAC.org: Source for college and financial Aid information and support Realizing the College Dream: sponsored by ECMC Foundation and developed by the Center for Educational Partnerships at the University of California, Berkeley Fastweb’s “Important College Facts for Students”
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