How to Plan and Prepare for Your Future. October 21, 2014

Transcription

1 How to Plan and Prepare for Your Future October 21, 2014

2 Ben Hagan Assistant Director Office of Undergraduate Admissions

3 Our Goal Provide you the tools and resources to complete the financial aid process and help you make informed college choices.

4 Topics The value of higher education Financial aid sources and timelines Putting the FAFSA Forecaster and Net Price Calculator to work for you Finding external scholarships

5 4-Year Education = Great Investment A bachelor s degree is worth $500,000 more than a high school diploma during a life=me. 1 The return on a college educa=on is 12.3 percent compared to a 6 percent return in the stock market. 2 People with more educa=on are more sa=sfied in their jobs than people who only have a high school diploma. 3 The unemployment rate of college graduates 25 and older was 4.6 percent, compared with 9.7 percent for high school graduates in The Hamlin Project (Brookings Ins9tu9on), June College degree seen as beder investment than ever, Vanessa Ko, CNN, June Educa9on Pays: The Benefits of Higher Educa9on for Individuals and Society, College Board, Value of a College Degree is Growing, Study Says, Tamar Lewin, The New York Times, September 2010

6 What is Financial Aid? Financial Aid programs provide financial support to help you and your family pay for college expenses. Scholarships Grants Loans Student Employment (work-study)

7 The Value of Part-Time Work Students who work on campus up to 20 hours per week make better grades in college than students who don t. Helps build resumes. Helps cover costs and extra expenses. Get good grades for future scholarships. 1. United States Bureau of Labor Statistics, 2008

8 Applying for Federal Aid The Free Application for Federal Student Aid (FAFSA) is the application for all federal grants, loans, and work-study. File the FAFSA as soon after January 1 st of your senior year as possible. Apply at

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12 Last year: Financial Aid at OSU More than $79 million of tuition waivers and scholarships were awarded by OSU. More than $310 million in total financial aid was received by OSU students. More than 80% of OSU students receive aid.

13 OSU Nonresident Tuition Scholarship SAT and ACT scores are computed without the wri?ng score.

14 Questions to Ask When is the admission application deadline? Do you have a separate scholarship application? Deadline? Do you accept application fee waivers? Are essays or additional materials needed? Can I update my application? Test scores? GPAs?

15 External Scholarships Many scholarships come either from your community or the college you select. Ask your high school counselor about local scholarships. Use an online search like to find other scholarships. Beware of organizations that require payment to help you search for scholarships or complete the financial aid application.

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17 Important OSU Dates Jan. 1 Feb. 1 Early April May 1 July 1 FAFSA Opens OSU Priority Scholarship Applica=on Deadline (Fall- entering students) OSU financial aid awards made OSU deadline to accept some scholarships and financial aid OSU Final Scholarship Applica=on Deadline (Fall- entering students)

18 Consider Money Saving Options Credit by exam Concurrent enrollment Housing choices Spending plan On-time graduation

19 Practice and Prepare Ask for help from university professionals. Do your research. Don t assume you can t afford it. Be aspirational. Dream!

20 Apply for admission early. Apply for scholarships early. File income taxes early. File the FAFSA early (as soon after Jan 1 st as possible). Respond promptly to requests for information. Open the mail (and check ). Make it a family project. Let us help. Things to Remember

21 Thursday, Jan. 22 8:30 p.m. What You Need to Know about the FAFSA and Why it Matters to You! admissions.okstate.edu/webinars/out- state- families

22 Have additional questions? OSU Office of Undergraduate Admissions: (405) admissions.okstate.edu OSU Office of Scholarships and Financial Aid: (405) financialaid.okstate.edu