FINANCIAL AID & SCHOLARSHIPS 101

Transcription

1 FINANCIAL AID & SCHOLARSHIPS 101

2 All information in this presentation is general and although we would urge you to consider UCCS, the information should be applicable at any school you are considering.

3 -Introduction -Types of Aid -Scholarship overview -FAFSA -Break -Questions

4 TERMS TO KNOW Keep Calm and Decode! EFC =Expected Family Contribution COA= Cost of Attendance Need/Unmet Need EFC COA EFC-Aid-COA FAFSA= Free Application for Federal Student Aid COF = College Opportunity Fund FERPA= Family Education Rights & Privacy Act

5 TYPES OF AID Gift Aid Grants Scholarships Self Help Aid Loans Student Employment

6 Gift Aid Grants and Scholarships

7 GRANTS Need Based Aid Free money that you don t pay back!!! Types: Federal: Pell, FSEOG State: Colorado Student Grant Institutional: UCCS Tuition Grant

8 SCHOLARSHIPS The typical scholarship award at UCCS ranges from $500-$15,000 Scholarships are considered gift aid They don t need to be repaid They can be one-time or renewable They can be for any amount $100 to $100,000

9 SCHOLARSHIPS There are also scholarship that are a combination, looking for Merit and Need. Merit based GPA ACT or SAT scores Class Rank CCHE Score Need based FAFSA EFC Unmet need Adjusted Gross Income

10 SCHOLARSHIP OPPORTUNITIES Scholarship Categories: Ethnicity based Merit Need based Program based Daniels Fund Kane GMS Pre-Collegiate Scholarships

11 DANIELS FUND Daniels Fund is a last dollar scholarship, covering unmet need. Approximately 200 awards given each year Criteria Citizen or permanent resident High school senior, resident of CO, NM, UT, WY ACT 17+ composite and in all areas, SAT 830+ Deadline: Nov. 17 th by 4pm Demonstrate financial Need (EFC<COA)

12 KANE FAMILY SCHOLARS UCCS Applications for Kane Due February 1st Available at Pikes Peak Community College, Pueblo Community College & UCCS Cover tuition, required fees & books Renewable for up to 4 years Criteria Must have Cumulative HS GPA of 3.5+ Top 10 in graduating class Involved in extra-curricular activities

13 GATES MILLENNIUM SCHOLARSHIP (GMS) *For more information visit: gmsp.org Must be ethnic minority * to apply U.S. Citizen or Permanent Resident/Foreign National Have a 3.3 GPA or higher (un-weighted) Be Pell Eligible (need) Submit nomination form & application Opens in August, due January 14, 2015

14 PRE-COLLEGIATE SCHOLARSHIPS We have CU system-wide PCDP scholarships & UCCS specific Several available through UCCS Scholarship Application (apply by March 1 st ) Wells Fargo Pre-Collegiate, outside application system-wide & app due mid-march 2.5 GPA, & renewable up to 4yrs.

15 TIPS FOR APPLYING Tell them why you are a good fit. Make an impression. Scholarship Essays Ask yourself: Why did the judges ask this question? Stay organized & show why you re a good fit. Letters of Recommendation Ask early, provide info, & ask appropriately Your Resume Include volunteer and other non-work experience Scholarship Interviews

16 SCHOLARSHIP ESSAYS Scholarship Essays Write with a purpose, and use spell check! Develop a theme Write Then rewrite PROOF READ. Use outside Readers Get feedback Keep it positive

17 Who should you ask? LETTERS OF RECOMMENDATION If a letter does not need to be specific, keep it general & use for multiple applications Knows you well Academic sources Teachers, coaches, supervisors Analyze your need for letters Give direction to person writing letter Any specifics that need addressed To whom should the letter concern?

18 Ladies: Wear pant suit/skirt or dress. cover legs, arms, cleavage. Simply jewelry. Gentlemen: Pressed buttondown shirt, wear a tie, & jacket required for business dress. Prepare! SCHOLARSHIP INTERVIEWS What are your greatest strengths? What are your career goals? Where do you see yourself in 5 or 10 yrs.? Inform! What is their mission? Do your homework! Impress! Dress for success, select outfit with care Clean, professional, wrinkle-free

19 SCHOLARSHIP INTERVIEWS (CONTINUED) Know where you re going, how you will get there, and who you can contact should a problem arise. Logistics Know where you are going How long will it take to get there Plan to be there early Presentation Look great Arrive with enough time for final touch ups What If? Acknowledge the problem Apologize if appropriate Move past the issue

20 Self-Help Aid Loans and Student Employment

21 LOANS There are loan forgiveness programs available for students who graduate from such programs as nursing or education. Student Loans Perkins (fixed 5%) Subsidized (fixed 4.66%) Unsubsidized (fixed 4.66%) Parent PLUS Loans (fixed 7.21%)

22 LOANS Yearly Loan Limits Dependent Independent Freshmen $3,500 sub $2,000 unsub $3,500 sub $6,000 unsub Sophomores $4,500 sub $2,000 unsub $4,500 sub $6,000 unsub Juniors/Seniors $5,500 sub $2,000 unsub $5,500 sub $7,000 unsub Graduate Students n/a $20,500 unsub Lifetime Limits Dependent Undergraduates Independent Undergraduates $31,000 ($23,000 sub) $57,500 ($23,000 sub) Graduate Students $138,500

23 STUDENT EMPLOYMENT Studies have shown that working at a job actually helps many students academically Types of jobs available: Work -Study (on and off campus) Non-Work-Study (on campus) Off-campus regular employment Volunteer Opportunities may lead to scholarship funding

24 BENEFITS OF WORK-STUDY Preferential hiring Schedule work around classes Deduct wages from your EFC calculation for the next year

25 ELIGIBILITY FOR NEED BASED AID Determined by the FAFSA College Cost of Attendance Budget - (minus) Expected Family Contribution EFC = NEED

26 SPECIAL CIRCUMSTANCES Unemployment / Reduction in hours Medical Expenses Other unusual circumstances Also known as Professional Judgments *** What qualifies as special circumstances is determined by the school that you are going to attend. All schools are different. If approved at one school, does not mean that you ll be approved at another school. ***

27 File Cabinet More information to know

28 AWARD LETTERS Award Letters will list costs in one of two ways: 1 Direct Costs: Tuition, Books, Fees, Room & Board if living in dorms Indirect Costs: Everything in Direct Costs, plus: Travel, Miscellaneous, Room & Board if not living in dorms

29 WUE Western Undergraduate Exchange Program Provides reduced tuition to students who have residency in contract states. In all cases, WUE tuition is considerably less than nonresident tuition. Apply for admission and WUE tuition status directly to the institution(s) of your choice. Contact your school s Admissions & Records office to find out how to apply. For a list of schools that participate visit

30 COLLEGE OPPORTUNITY FUND COF, Stipend, Voucher Applies $75/credit hr. for public schools, $38 for private Eligibility differs by college MUST APPLY (UCCS does this with you at registration)

31 -Introduction -Types of Aid -Scholarship overview --Questions -FAFSA

32 PROFILE CSS/Financial Aid PROFILE is required by many private colleges and universities to determine eligibility for institutional aid. -PROFILE can be submitted in the fall -PROFILE has questions that are specific to your school or program -PROFILE determines your financial need differently than the FAFSA, taking into account information like if your family owns their own home. -PROFILE costs $9 plus $16 for each school or scholarship program you want your information sent to To complete a PROFILE Application go to

33 WHEN TO APPLY Apply For Admission Early.(by Thanksgiving) Free Application for Federal Student Aid (FAFSA) at Get FAFSA done by Valentine s Day (Feb. 14th)

34 FAFSA Determines eligibility for need-based aid Apply for a PIN at (needed by both student and a parent) Collect the documents needed to apply Complete the FAFSA in time for your school s Priority Date. The newest form is available every January 1 st! Review your SAR, and, if necessary, contact your Financial Aid office to make corrections. Make sure to complete your Financial Aid File, this may require you to turn in copies of taxes and other paperwork.

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36 FAFSA VIDEO

37 COLLEGE GOAL SUNDAY What: Why: When: Where: A one-day event to help students and families complete the FAFSA If you are even thinking about education beyond high school, you will most likely need financial help. Sunday, February 8, 2015 from 1pm-3pm UCCS 1420 Austin Bluffs Parkway Colorado Springs, CO PPCC 5675 S. Academy Blvd. Colorado Springs, CO 80906

38 SUMMARY Apply early for admission Submit FAFSA to every you re school considering as early as possible (after 1/1/15) Apply for scholarships often & remember it pays off! Tips for UCCS

39 Questions? Samantha Carty THANK YOU!