FINANCIAL AID. D. Chianakas M. Kratzke

Transcription

1 FINANCIAL AID D. Chianakas M. Kratzke September 9, 2014

2 Target Goals Know your options What types of colleges are out there? What kind of financial aid is available? Know your resources Where can I go for information? Know your deadlines Do NOT miss them!

3 It STARTS with a conversation! Have a reality talk with your parents Are they able to help at all? How much can they afford? Is this for one year or all four (five)? Are there stipulations (grades, gpa, job, etc.)? This could all change! You are ultimately responsible for ALL bills!

4 Know Your College Options!

5 Community College MCC, Harper Save $$ Commuter Option Elmhurst, DePaul, NIU, UIC Save $$ on room and board Net Price Calculators -on most college websites! May take 20 minutes to fill out, requires previous years tax info., get realistic idea of the net cost to attend!

6 Compare Illinois State University $23, x 4 years = $92, Interest Rate at 6.8% Monthly payments $ for 10 yrs Total Interest paid $35, Total Repayment $127, MCC 2yrs $ years ISU $ Total 4 years = $54, Interest Rate at 6.8% Monthly Payment $ for 10 yrs Total Interest paid $20, Total Repayment $74,571.60

7 What about Financial Fit? Consider taking on reasonable debt Consider your major and the entry level salary College Searching that includes affordability Find colleges that give discounts to Illinois students Mizzou will give their in-state tuition after the 1 st year. Iowa, Michigan also give great deals. RESEARCH!!! managingcollegecost.com - series of short videos explaining the college search and financial fit

8 Know Your Financial Aid Options!

9 Gift Aid free money that isn t paid back Grants Scholarship Self-help you must work for, or re-pay! Work Study Loans

10 You must fill out the applications!

11 File the Free Application for Federal Student Aid (FAFSA) Every Year!! Complete the FAFSA (Jan. 1 st of Sr. year) File by February 15 th before money runs out! Go to Site also has a fafsaforecaster Parent/student apply for pin (electronic signature) MCC Financial Aid Office: (815)

12 EVERYONE QUALIFIES!! $27,000 maximum Federal Loans ($5500, $6500, $7500, $7500) File FAFSA, list colleges on FAFSA File by February 15 th before money runs out!! Colleges will compose award letters AFTER you have been accepted! Award Letter- clearly details what you will receive in terms of aid and what you are needing to pay for that specific institution.

13 Competitive G.P.A./ACT Scores = $$,$$$ Show them the GRADES and they WILL show you the MONEY!! Merit scholarships are where the money is. There is more than $11 billion in merit scholarships available to students from colleges - meritaid.com Not just for A students Many awards emphasize leadership or school involvement Nearly all colleges offer merit aid scholarships The average merit scholarship is $5,000 Many awards can be renewed year after year MCC College Fair October 9 th Financial Aid Presentation 6:30PM Financial Aid night in Fall of Senior Year (MCC Oct. 21,23,29) The Right College CLC Sept 25 th 7:00PM Apply for Cary-Grove community scholarships!

14 Scholarships! Research them! Starting late October! Someone will win! Apply for the ones you qualify for You must meet ALL criteria, including deadlines! You must report to your college the scholarships you win. Some will stack awards, others will take away some of your financial package. ASK????

15 Community/ Local scholarships! All of the local scholarships will be listed on CG Student Services website under the College & Career Center Over $90,000 in scholarships awarded, They can be found in the front corner of the College and Career Center! Starting in November. Really picks up during February June, check weekly for newest available local scholarships! Apply for several community scholarships at once! Requires 5 minute interview, applications March-April

16 Know Your Resources!!

17 Where to go for help Your College Representatives! (College Visits!!) Financial Aid Department of your college MCC s financial aid department The academic department of your major! Family Connection / Naviance! Student Services Department, and website The college/career center The internet!

18 Finanical Aid Resources ~ on the web! managingcollegecost.com - series of short videos explaining the college search and financial fit collegeillinois.org - Illinois Student Assistance Commission fastweb.com - Private scholarships fafsa.ed.gov - Free Application for Federal Student Aid studentaid.ed.gov - The federal government s website about paying for college meritaid.com - $11 billion in merit scholarships cappex.com - Scholarship matching finaid.org - Free student resource for learning about all types of financial aid College/Career Center website mchenry.edu

19 Know Your Deadlines!

20 Deadlines more important than ever! Deadlines for financial aid vary from school to school, be safe submit your FAFSA by 2/15! Scholarship deadlines are firm! Start your research now! Visit the College and Career Center! Teacher recommendation and transcript deadlines still apply for scholarships ~ 2 weeks!

21 AVOID SCAMS Do not pay for financial aid services! Financial Aid Searches Guaranteed money if you pay us Do not give out Social Security # for scholarships! Help in completing FAFSA! These are scams! Don t pay $$$$$ to get $$$$$!!!!

22 Important Dates/ Info. MCC October 9 th 6:30PM Financial Aid Presentation Financial Aid Night October 21 st, 23 rd, & 29 th, McHenry County College. You MUST sign up to attend! MCC Open House November 12th, 5:30-7:30pm FAFSA complete starting January 1 st of Senior year, submit it by February 15 th!

23 General Financial Aid Info. #1 Source for $$,$$$ is G.P.A. and ACT!!!! In-state is the cheapest? NOT Always!! Don t rule out private schools! Everyone fill out FAFSA ~January of Sr. Yr. Local Scholarships ~November of Sr. Yr Everyone qualifies for Federal Loans! ($5500, $6500, $7500, $7500 = $27000) Community College

24 Re-Cap- Financing College Have a reality talk with your parents Do a scholarship search on the web Fill out FAFSA (Jan. of Sr. year) by February 15!!! High School Website Local Scholarships! College Financial Aid Website, and Academic Dept. site CG Student Services website!- Local Scholarships Financial Aid Night (Fall) Avoid scams (Don t pay to find money!) MCC Financial Aid Office Go to