THE DEGREE PROJECT SCHOLARSHIP GUIDE

Transcription

1 THE DEGREE PROJECT SCHOLARSHIP GUIDE

2 2 HOW DO YOU EARN THE SCHOLARSHIP? 4 HOW MUCH WILL YOU GET? 6 WHEN WILL YOU GET IT? 8 FREQUENTLY ASKED QUESTIONS You should be proud of yourself and the progress you ve made toward earning up to $12,000 to help pay for college. WE ARE! So how much of a scholarship will you get? When will you get it? This guide answers those questions and includes the steps needed to earn the scholarship and examples showing how the scholarship helps pay for college. If you still have questions or something isn t making sense after reading through it, us, or better yet, call us. We can help answer your questions and provide more details. help@degreeproject.com b 1

3 To earn up to $12,000, you need to: GPA Attendance Keep Up The Good Work Remember you need to have a cumulative GPA of 2.5 or higher and a cumulative attendance record of 90% or higher when you graduate from high school. HOW DO YOU EARN THE SCHOLARSHIP? Complete these 5 steps. Apply To An Eligible College There are 67 eligible nonprofit colleges* where The Degree Project scholarship can be used. This includes public and private two- and four-year colleges. Complete The FAFSA Submitting the FAFSA is not only a requirement of The Degree Project, it s also the key to unlocking additional money to help you pay for college. Graduate From High School Earn your regular diploma from an eligible MPS school* by August 30, Go To College Attend at least half-time and start no later than September 30, *See a list of eligible schools and colleges at degreeproject.com 2 3

4 HOW MUCH WILL YOU GET? It depends. Let s check out some examples: Student A attends MATC and lives at home Once you ve earned the scholarship, the colleges you ve applied to will be notified. The amount you receive will depend on: How much the college costs How much other financial aid you receive FINANCIAL NEED FINANCIAL AID AMOUNT STILL NEEDED $11,700 $8,300 $3,400 The Degree Project Scholarship for Student A will be: $3,400 Each college will use these two amounts to calculate how much of a scholarship you can receive from The Degree Project. The scholarship amount may vary between colleges. Student B attends UW-Milwaukee and lives on campus FINANCIAL NEED Financial need is based on the cost of each college and information you provide on your FAFSA HERE S HOW THEY DO IT FINANCIAL AID Financial aid includes grants and scholarships other than The Degree Project AMOUNT STILL NEEDED Amount still needed is used to determine if you have a need for a scholarship from The Degree Project FINANCIAL NEED FINANCIAL AID AMOUNT STILL NEEDED $22,500 $10,500 $12,000 The Degree Project Scholarship for Student B will be: $6,000 (the maximum award for one year) This student will still need $6,000 to help pay for college even after getting a scholarship. The good news is there are options available. Based on the amount still needed, a college can award a scholarship from The Degree Project of up to $6,000 per year until the maximum $12,000 is used. If you still need additional money to help pay for college, talk to your college s financial aid advisor to learn about the options available to you. 4 5

5 WHEN WILL YOU GET IT? Not until late summer. This assumes you are planning to attend an eligible college this fall, have completed your FAFSA and are on track to complete all the steps needed to earn a scholarship from The Degree Project. (See all the steps on page 3) SPRING 2015 EARLY SUMMER 2015 SUMMER 2015 LATE SUMMER 2015 Award letters start arriving The colleges that you ve applied to, and have been accepted to, will send out award letters. Each letter will show you how much the college costs and the amount of financial aid you will receive. The Degree Project confirmation letter arrives When you meet the graduation requirements, The Degree Project will send you a confirmation letter. This letter will confirm you met the 2.5 GPA and 90% attendance requirements and graduated from an eligible MPS school with a regular diploma. These letters will not include the amount of your scholarship from The Degree Project. It s too early in the process for that. The Degree Project will contact colleges Each college that you ve applied to, and been accepted to, will be contacted by The Degree Project. This is to notify them that you are eligible for a scholarship from The Degree Project. Each college can now calculate the amount of your scholarship from The Degree Project. You ll learn the amount of your scholarship Each college that offers you a scholarship from The Degree Project will send a revised award letter that includes the amount of the scholarship. You will not receive a check from The Degree Project. The Degree Project will send your scholarship money to the college you attend to help pay for the cost of college. 6 7

6 FREQUENTLY ASKED QUESTIONS How much scholarship money will I get? It depends. The amount of your scholarship will be based on the cost of the college you attend and the amount of other financial aid you receive. You can receive up to $6,000 per year until the maximum $12,000 is paid out. How will I receive scholarship money awarded through The Degree Project? You won t receive a check. Instead, The Degree Project will send your scholarship money to the college you attend. The college s financial aid office will include the scholarship as part of your financial aid package, which also includes other scholarships and grants to pay your cost of attendance. When will I know if I have met the high school graduation requirements? You will receive a letter from The Degree Project during the summer of 2015 letting you know if you met the GPA, attendance, and diploma requirements for the scholarship. Do I have to start college right away after high school? What if I take a year off before starting college? You do not have to start college right after graduating from high school. You can enroll and begin attending college as late as September 30, 2016, and use your scholarship from The Degree Project at any time before June 30, Do I need to be a full-time student or can I use the scholarship as a part-time student? You have to attend college at least half-time to use The Degree Project scholarship. Half-time is generally considered to be 6 credit hours or more per semester. Does the money I receive through The Degree Project scholarship have to be paid back? No. The Degree Project scholarship is not a loan; it is a gift and therefore does not have to be paid back. Can I use the scholarship for graduate school? No. The scholarship cannot be used for graduate school. How do I remain eligible to receive scholarship money from The Degree Project after my first year of college? You must maintain eligibility for federal financial aid during that time, including filing the FAFSA each year and meeting satisfactory academic progress requirements as defined by your college. If I transfer colleges, will I still be able to use The Degree Project scholarship? You may transfer from one of the eligible Wisconsin colleges to another without affecting your eligibility. How long after high school graduation do I have to use the scholarship? You have until the entire $12,000 is used or June 30, 2019, whichever comes first. Do I need to be a U.S. citizen to get The Degree Project scholarship? Yes, because federal regulations require that you be a citizen or eligible noncitizen of the United States with a valid social security number in order to complete the FAFSA one of the requirements for receiving a scholarship from The Degree Project. Still have questions? Contact us for answers. DEGREEPROJECT.COM help@degreeproject.com All communications regarding The Degree Project are for informational purposes only and are expressly subject to change from time to time at the sole and absolute discretion of Great Lakes Higher Education Corporation & Affiliates (Great Lakes). Nothing in this brochure or in any other communications regarding The Degree Project shall be construed as creating a contract. All requirements, eligibility provisions, obligations, and related matters of The Degree Project are expressly subject to change from time to time in the sole and absolute discretion of Great Lakes. Great Lakes and Milwaukee Public Schools and their directors, board members, officers, employees, and agents shall not be liable for any claims or damages to any person arising from The Degree Project, including any claims or damages involving the application of the requirements, eligibility provisions, obligations, and awarding of scholarships by The Degree Project. 8 9

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