Funding College. Office of Financial Aid and Scholarships Clackamas Community College

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1 Funding College Office of Financial Aid and Scholarships Clackamas Community College

2 What is Financial Aid? Money to help pay for your educational costs. Don t assume you are not eligible for Federal aid!

3 Federal Aid (three of the most common forms) FEDERAL GRANTS FEDERAL WORK STUDY PROGRAMS FEDERAL DIRECT LOANS

4 GRANTS Free Money!! Federal Pell Grant Supplement Educational Opportunity Grant State Oregon Opportunity Grant Oregon Promise Grant Colleges and Universities Many colleges offer their own need-based grants

5 Student and Parent Loans Money you will have to pay back Federal Direct Student Loans PLUS Loans

6 Federal Work Study Program On-campus Employment Off-campus Employment Internships

7 State of Oregon Grants Oregon Opportunity Grant File your FAFSA before February 1 st! Oregon Promise Grant Application available Nov. 1 st

8 Oregon Promise Grant Receive an Oregon high school diploma or GED in Spring/Summer 2016 Oregon resident for at least 12 months prior to community college enrollment Enroll in community college within 6 months of completing high school or GED Cumulative high school GPA of 2.5 or better

9 General Federal Financial Aid Process Timelines vary from college to college. Understanding how colleges do their processing is imperative. 1) Submit FAFSA Online 2) Federal processor receives data 3) Student Aid Report sent to Student & College 4) College will contact you & may need more information (Indicates your FAFSA was received, & gives instaructions for next steps!) 5) Student sends requested information to college (Respond QUICKLY!) 6) Financial Aid Office processes file (Timelines vary may take approx. 6 to 12 weeks) *Additional information may be requested!!! 7) Student receives Award Letter or College needs further information (see box 4) 8) Student may need to accept or reject Award Letter DON T FORGET TO COMMUNICATE: 1. Read your !!! 2. Log in to college account frequently 3. Check mail & return phone calls

10 Seniors, file your FAFSA online starting January 1 st, and beyond, file your FAFSA beginning Oct. 1 st 2016! Using 2015 tax information

11 What is needed? Student & Parent Social Security Number and Legal name Alien registration or permanent resident card o Deferred Action for Childhood Arrivals (DACA) students do not qualify for FAFSA funds Driver's license or state ID number

12 Most recent federal income tax returns, W-2s, and other records of money earned. Untaxed income records Current business and investment information FSA ID fsaid.ed.gov

13 Common FAFSA Errors Parent information: SSNs, DOBs, Names Unmarried/divorced/remarried Untaxed income: Veteran s Disability, Worker s Comp, Child support received, etc U.S. income taxes PAID Household size Number in college Supporting a child Legal Guardian

14 IRS Data Retrieval *** Available early February of each year This is an electronic way to transfer your tax information

15 Special Circumstances Information that cannot be reported on the FAFSA Send written explanation to financial aid office at college

16 Special Circumstances Change in employment status Medical expenses not covered by insurance Change in yours or parent marital status Unusual dependent care expenses Student cannot obtain parent information

17 Cost of Attendance (C O A) Tuition and Fees Room and Board Books and Supplies Personal Expenses Transportation

18 Expected Family Contribution (EFC) EFC = Expected Family Contribution This is the amount of money the government expects the student and family to pay towards their education.

19 How An Award Is Calculated COA: $ 13,269 - EFC $ 1,500 Financial Need = $ 11,769 *Colleges package financial aid awards to meet as much of the eligible student s financial need as possible.

20 Most aid is conditional! Must be seeking Degree or one year Certificate Must pass courses with at least a 2.0 GPA ( C ) Must complete courses that aid assists with

21 Some programs/scholarships may require that you maintain a higher GPA Some programs/scholarships may require full time enrollment The Oregon Promise Grant will require 2.5 GPA Most aid is conditional!

22 FAFSA may be the key to other aid Scholarships Tribal Funds Vocational Rehab. Funds Job Training State Grants

23 Scholarships There is a scholarship out there for everyone! Major or Program of Study Academic Merit (GPA) Extracurricular Activities Financial Need Personal Barriers

24 Where to look for scholarships A great place to start Your high school career office!

25 Where to look for scholarships Colleges and Universities High School Career/Counseling Office The WEB Organizations Public Library Employer Where you worship

26 General Caution: Beware of Scams! Watch out for fees and guarantees Never pay for a scholarship, not even an application fee! Legitimate donors will not ask for an application fee.

27 Make a Scholarship List Keep track of all the scholarships you are applying for; list them by their due dates.

28 Application Tips Meet all Deadlines! Follow the Instructions Make Copy of the Scholarship Application Type the application, essay, and any additional information Fill in all the Blanks

29 Scholarship applications require Essay Letters of Recommendation Transcripts

30 Create a winning essay! Keep it simple and focus on the topic Do tell your accomplishments Use descriptive words Keep it neat Do state your need Write as though you re talking to the selection committee Use the same essay for multiple applications

31 Reference Letters Obtain more letters than you need Ask as early ahead of time as possible!!!! These letters need to be current, written within the last year. Letters should be on letterhead if possible and include an original signature. Thank you to your references!

32 Activity Chart School/Family/Community Activities Responsibilities Dates Honors/Awards/Office Held Paid Jobs Get involved!

33 Be sure to write a thank you letter to your scholarship donor. The THANK YOU LETTER

34 Why scholarships are a good investment of your time Student invests 10 hours to apply for 10 scholarships and is awarded one for $2,000 -That student just earned $200 an hour. At $9.25 an hour, you would have to work 216 hours to earn $2,000

35 A great scholarship program Oregon Student Access and Completion (OSAC) Scholarships scholarships! More than $15 million available Early Bird vs general deadline Feb. 15 th 5 PM vs Mar. 1 st 5 PM Application opens early November

36 Great scholarship opportunities: colleges and universities Clackamas Community College Foundation Scholarships $600,000+ in scholarships available each year Application opens January 30 th, deadline March 30 th,

37 Questions and Thank you! Office of Financial Aid and Scholarships Clackamas Community College