College Financial Aid
Marion High School
Liberty Nicholas, LMSW
Director of College and Alumni Engagement
Communities In Schools of South Central Texas
[email protected]
830.620.4247 x 19
Alexandra Villarreal, BSW
College Engagement/ Alumni Specialist
[email protected]
830.620.4247 x 18
Show Me the MONEY
Financial Aid
 Four types of aid
 grants
 scholarships
 loans
 work study
 Don't rule out a dream school if it’s private and/or
expensive
 Creative ways to save money
 Dual Credit
 AP Testing
 SAT Scores
 ACT Scores
Grants
FREE Money
Everything starts with the FAFSA-www.fafsa.ed.gov
 January 1 of the senior year
 Apply for an FSA ID– Both student
and parent
 Free Application
 WATCH FOR SCAMS
Many schools have a February 14th deadline
1. Financial-aid officers use this form to determine the
amount of your financial-aid award.
2. A new FAFSA must be submitted every year you’re in
college to qualify for federal aid.
3. Fill out the application online - Aid is need based
4. Expected Family Contribution (EFC):
Determines eligibility for federal financial student aid;
obtained through FAFSA application.
Things You Will NEED
when filling out
FAFSA:
1.
2.
3.
4.
5.
Parent’s W-2
Student’s W-2
Filed 1040 – both
Parent & Student FSA ID
If you have moved this year
you need to call the HR
department for all current
and previous employers
and have your address
changed for your W-2 to be
sent
Creating an FSA ID
• From Home page of FAFSA.gov
click FSA ID link
• From next page: click create an
FSA ID now
• Both parent and student will need
an FSA ID
• Choose challenge questions which
will not change over time
Does a Student Have
to Submit
A Parents Financial
Information to
FAFSA?
Once FSA ID is created return to home page and Start A New FAFSA
Once FSA ID is created return to home page and Start A New FAFSA
Once FSA ID is created return to home page and Start A New FAFSA
University Scholarships
 University requirements vary
 May be one application for admission/scholarships
 May be a separate application for admission/scholarships
 Private schools are more expensive but typically offer larger
scholarships than public schools
 Public schools in Texas offer scholarships through the
ApplyTexas.org website.
 Deadlines are prior to admission deadlines
 5 short-answer questions required
 Refer to your resume to answer additional questions
 Read directions carefully and pay attention to deadlines
 Don’t discount scholarships of lower monetary value;
every dollar helps
Private Scholarships
WATCH DEADLINES
 60+ private scholarship programs listed on Counselors’
Corner
 links to online applications or PDFs of applications
1. Local
2. State
3. National
Work on one or two essays per week.
 Save essays you have already written. You may be able to use
them again or modify them slightly for other scholarships.
 Make a copy of each scholarship you submit.
 Follow the directions set out in the scholarship application
Searching for the
Scholarships
 Local/National Businesses
 Foundations/Nonprofits
 Universities
 Online!
 www.fastweb.com
 www.collegeboard.org
 www.scholarshipexperts.com
Strategy and Securement
 Don’t wait or hesitate!
 Deadlines DO matter
 Content is *KEY*
 Small and Many
 Be flexible!
 Took a test? Take it again!
 SAT, ACT, AP, etc.
 Follow up? Follow up!
Top 5 Myths Surrounding
the Money
 1. “Scholarships are for the scholars and the sports stars.”
 2. “Writers win every time~”
 3. “I’m not a minority or have documented need, so I
can’t apply!”
 4. “Small scholarship packages won’t help me.”
 5. “Competition is fierce– I shouldn’t bother!”
Loans
Direct Subsidized Loans
 Available to undergraduate students with financial need.
Interest Free Loans
Direct Unsubsidized Loans

Available to undergraduate students. The student does not
have to demonstrate financial need to be eligible for the loan.
These loans accrue interest
Parent Plus Loans

Available to parents. Credit based and do require repayment or
deferment after first year.
Be On Time Loan




Zero Interest Loan
Must ASK your college’s financial aid dept to be placed on waiting
list – All colleges are not guaranteed to have money to give
Must be a Texas resident and be eligible for Federal Financial Aid
Loan is FORGIVEN if student graduates ON TIME!
Work-Study
 The Federal Work-Study Program (FWS) funds part-time




employment for undergraduate students with financial
need
Allows students to earn money to help pay for education
expenses.
The total award depends on when the student applies, the
level of need, and the funding level of the school.
The work-study award is NOT guaranteed money! The
student most search for work-study jobs on their colleges
website, apply, interview and be hired.
Work-study is paid to the student every two weeks
WHY COLLEGE?
College Graduates Earn More
Money
www.finaid.org/otheraid/CollegeIsPower.ppt
Average Lifetime Earnings
Professional Degree
$5,612,760
Doctorate (Ph.D.)
$4,449,440
Master's Degree
$3,337,800
Bachelor's Degree
Associate's Degree
Some College, No Degree
High School Graduate
High School Dropout
$2,742,160
$1,920,680
$1,863,040
$1,531,400
$1,102,120
Earn More by Staying in School
www.finaid.org/otheraid/CollegeIsPower.ppt
 High school graduates earn $430,000 more over their
lifetimes than high school dropouts.
 Double your income by graduating from college.
 An Associate’s degree is worth $390,000 more than a
high school diploma.
 A Bachelor’s degree is worth $1.2 million more than a
high school diploma.
 A Doctorate (Ph.D.) is worth $1.7 million more than a
Bachelor’s degree.
 A Professional (law or medical) degree is worth $2.9
million more than a Bachelor’s degree.
College is Required for a Better Job
www.finaid.org/otheraid/CollegeIsPower.ppt
 Almost All of the highest paying jobs require a college
degree
 Jobs for college graduates include better benefits, such
as health insurance and retirement plans
 College graduates have half the unemployment rates of
high school graduates and better job security
 There are many more jobs available for college
graduates than high school graduates
Questions