College Costs, Student Loans & Scholarships

Size: px
Start display at page:

Download "College Costs, Student Loans & Scholarships"

Transcription

1 Some of the best things in life are free unfortunately college isn t one of them. College Costs, Student Loans & Scholarships

2 NH Higher Education Assistance Foundation Continuum of Services

3 Beyond Headlines Using Data

4 There is clear evidence that rising attainment rates in other countries reflect genuine economic demand for a better-educated workforce. Education at a Glance 2012, Table A1.3a The Organization for Economic Co-operation and Development

5 College Pays During Challenging Times "The recession hit those with less schooling disproportionately hard nearly four out of five jobs lost were held by those with no formal education beyond high school. At the other end of the spectrum, workers who had completed a four-year college degree or higher were largely protected against job losses during the recession and some had job gains. The job recovery has only increased the divide between the less-educated and more educated. The College Advantage: cew.georgetown.edu/collegeadvantage

6 Lumina Foundation Goal Why increase the percentage of Americans with high-quality degrees and credentials to 60 percent by the year 2025? Higher education is a prerequisite to success in a knowledge-based society and economy. The social and economic opportunities facing our country can best be addressed by educating many more people beyond high school. As we attain the goal, we improve the economy, strengthen civic engagement and reduce the costs of crime, poverty and health care and, in short, improve the human condition. FAFSA COMPLETION PROJECT

7 College Degree Attainment is Key to Short-term Economic Recovery and Long-term Prosperity. Only one problem:

8 Undergraduate Student Aid by Type in Billions

9 Maximum and Average Pell Grant in 2011 Dollars, to SOURCE: The College Board, Trends in Student Aid 2012, Figure 13B.

10 Influencing the Conversation About Debt

11 Federal Student Loan 2-Year Cohort Default Rate

12 Median Earnings and Tax Payments of full-time Workers Ages 25 and Older, by Education Level, 2008 Sources: The College Board, Education Pays 2010

13 Estimated Cumulative Earnings Net of Loan Repayment for Tuition and Fees The College Board, Education Pays 2010 The typical four-year college graduate makes up for time out of the labor force and for paying tuition by age 30.

14 State Appropriations for Higher Education per $1,000 in Personal Income, and 5-Year Change from to SOURCE: The College Board, Trends in College Pricing 2012, Figure 13B.

15 Need-Based & Merit Grants for Undergrads Changes Over Time

16 Remarks on Signing the Higher Education Act of 1965 President Lyndon B. Johnson's Remarks at Southwest Texas State College November 8, 1965 The President's signature upon this legislation passed by this Congress will swing open a new door for the young people of America. For them, and for this entire land of ours, it is the most important door that will ever open the door to education. And this legislation is the key which unlocks it To thousands of young men and women, this act means the path of knowledge is open to all that have the determination to walk it. It means that a high school senior anywhere in this great land of ours can apply to any college or any university in any of the 50 States and not be turned away because his family is poor Here the seeds were planted from which grew my firm conviction that for the individual, education is the path to achievement and fulfillment; for the Nation, it is a path to a society that is not only free but civilized; and for the world, it is the path to peace for it is education that places reason over force. As a student, I lived in a tiny room above Dr. Evans' garage. I lived there 3 years before the business manager knew I occupied those quarters and submitted me a bill. I shaved and I showered in a gymnasium that was down the road. I worked at a dozen different jobs, from sweeping the floors to selling real silk socks. Sometimes I wondered what the next day would bring that could exceed the hardship of the day before. But with all of that, I was one of the lucky ones and I knew it even then. I left this campus to become a teacher under one of the great teachers that I have known. He came here and looked over my credentials and somehow or other offered me a job at $125 a month to teach a Mexican school at Cotulla when I was a sophomore, and it was necessary that I leave that year to teach. I shall never forget the faces of the boys and the girls in that little Welhausen Mexican School, and I remember even yet the pain of realizing and knowing then that college was closed to practically every one of those children because they were too poor. And I think it was then that I made up my mind that this Nation could never rest while the door to knowledge remained closed to any American. So here, today, back on the campus of my youth, that door is swinging open far wider than it ever did before. The rest is up to you. The rest is up to the teachers and the citizens and the educational leaders of tomorrow. I want to say this to each of you, finally. You are witnessing a historic moment. You should carry the memory and the meaning of this moment with you throughout your life. And when you look into the faces of your students and your children and your grandchildren, tell them that you were there when it began. Tell them that a promise has been made to them. Tell them that the leadership of your country believes it is the obligation of your Nation to provide and permit and assist every child born in these borders to receive all the education that he can take.

17 The Message is Always Changing If you think education is expensive, try ignorance. The more you learn, the more you earn NOW: Choosing the right vocation will lead to wealth formation

18 New: Net Price Calculators New federal requirement that all schools must provide a Net Price Calculator to enable current and prospective students, families, and consumers to determine an estimate of a current or prospective student's individual net price at a particular institution. ***The calculator s results are not a guaranteed amount that you will receive, but as a potential amount based on information reported.***

19 It s worth the extra $14,500 to go there. Annual Net Price After Financial Aid School A $18,658 School B $33,200 Four-Year Net Price $79,229 $140,980 Actual Price Difference After Interest Expense During 10-year Repayment Period $153,419 $245,294 But, is it worth the extra $91,875? But is it worth the extra $91,875?

20 Calculate Loan Payments Federal Direct Stafford Loan *Assumes a freshman student will borrow $5,500 in an unsubsidized loan with an interest rate of 6.8% over 10 years

21 Stricter Lending Standards

22 Stricter Lending Standards

23 Monthly Loan Payment as a Percentage of Monthly Income

24 Can t Find Your Loan Information? National Student Loan Data System

25 College Navigator -

26 Encourage them not to get discouraged through the process.

27 How Financial Aid Is Awarded Cost of Attendance (COA) The amount a school has budgeted for a student s tuition, room and board, books, fees, supplies and any related expenses. Expected Family Contribution (EFC) The amount, as determined by federal methodology, that represents your family s ability to pay for one year of college. COA 45,000 - EFC 16,000 Eligibility 29,000* * It is important to note that while a student may be eligible for this amount, there is rarely a guarantee that the student will actually receive this amount.

28 EFC Calculators To find out what your EFC would be if your child were filing FAFSA today!

29 How Saving Affects Your EFC Will saving for college hurt my chances of receiving financial aid? The average parents savings will not negatively impact a family s financial aid eligibility. Davis Family Dad is 50, Mom is 48 Two Children Have a combined AGI of $95,000 Saved $6,000 for college expenses EFC = $16,391 Smith Family Dad is 50, Mom is 48 Two Children Have a combined AGI of $95,000 Saved $60,000 for college expenses EFC = $17,023 Parent Asset Protection Allowance Age 45 Age 60 Two parents - $42,900 Two parents - $59,700 One parent - $14,900 One parent - $20,400

30 Celebrate I m Going to College Month

31 Excellent Resource for Learning About & Evaluating College Savings Options

32 FAFSA HOORAY Brooklyn Charter School s Video Spreads the Word About the Importance of the FAFSA to a Hip-Hop Beat.

33 Go confidently in the direction of your dreams. Live the life you have imagined. Henry David Thoreau "The dream begins, most of the time, with a teacher who believes in you, who tugs and pushes and leads you on to the next plateau, sometimes poking you with a sharp stick called truth."--dan Rather

COMPONENTS OF AID PACKAGES: WHAT TO EXPECT

COMPONENTS OF AID PACKAGES: WHAT TO EXPECT 23359_ch01.qxd 7/15/04 9:00 AM Page 176 176 Paying for College based grants or scholarships if the institution provides them, may decrease loans in the aid package and increase grants even at an institution

More information

2012-2013. financial aid at eiu a guide to the dollars and cents of realizing your dreams at eastern illinois university

2012-2013. financial aid at eiu a guide to the dollars and cents of realizing your dreams at eastern illinois university 2012-2013 financial aid at eiu a guide to the dollars and cents of realizing your dreams at eastern illinois university Planning for college can be one of the biggest financial challenges for families.

More information

FINANCIAL AID for Junior Parents: The Basics. April 22, 2015

FINANCIAL AID for Junior Parents: The Basics. April 22, 2015 FINANCIAL AID for Junior Parents: The Basics April 22, 2015 What is Financial Aid? Cost of Attendance (COA) - Expected Family Contribution (EFC) Student s Financial Need (eligibility) Financial Aid --

More information

Direct loan Information. Federal Direct Student Loans A simple and flexible way to finance your education. Welcome!

Direct loan Information. Federal Direct Student Loans A simple and flexible way to finance your education. Welcome! Direct loan Information Federal Direct Student Loans A simple and flexible way to finance your education. Welcome! Beginning Spring Semester 2012, Ogeechee Technical College will be participating in the

More information

Glossary Financial Aid & Student Loan Terms

Glossary Financial Aid & Student Loan Terms Glossary Financial Aid & Student Loan Terms A Academic year A period of time schools use to measure a quantity of study. For example, a school s academic year may consist of a fall and spring semester,

More information

Navigating the World of College Student Financial Aid An Overview

Navigating the World of College Student Financial Aid An Overview Navigating the World of College Student Financial Aid An Overview Centenary College January 2015 Introduction If you are a student (or the parent of a student) who is about to embark on a journey into

More information

Cutting Interest Rates, Lowering Student Debt Updated. An Analysis of the College Cost Reduction and Access Act of 2007 Interest Rate Reduction

Cutting Interest Rates, Lowering Student Debt Updated. An Analysis of the College Cost Reduction and Access Act of 2007 Interest Rate Reduction Cutting Interest Rates, Lowering Student Debt Updated An Analysis of the College Cost Reduction and Access Act of 2007 Interest Rate Reduction June 2008 Acknowledgments Written by Luke Swarthout, Higher

More information

Introduction to Financial Aid: An Overview for High School Students and Parents. presented by: Hayato Suzuki Director of Financial Aid

Introduction to Financial Aid: An Overview for High School Students and Parents. presented by: Hayato Suzuki Director of Financial Aid Introduction to Financial Aid: An Overview for High School Students and Parents presented by: Hayato Suzuki Director of Financial Aid Tonight s Topics Types and sources of aid How financial need is determined

More information

FEDERAL STUDENT AID PROGRAM SUMMARY

FEDERAL STUDENT AID PROGRAM SUMMARY FEDERAL STUDENT AID PROGRAM SUMMARY Most federal student aid is need-based, taking into account an expected family contribution (EFC). Need-based financial aid comes in three basic types: 1. Grants and

More information

The Early College Planning Initiative. Myths about College Costs and Savings

The Early College Planning Initiative. Myths about College Costs and Savings The Early College Planning Initiative A Project to help Families prepare financially for Higher Education Myths about College Costs and Savings Myths About The Cost of College Myth: College tuition costs

More information

Financial Aid 101 What You Need To Know About Financial Aid

Financial Aid 101 What You Need To Know About Financial Aid Financial Aid 101 What You Need To Know About Financial Aid Jevita Rogers, Director, UCCS Financial Aid Branden Williams, Counselor, UCCS Financial Aid All information in this presentation is general and

More information

MAKING COLLEGE MORE AFFORDABLE FOR MILLIONS OF AMERICANS. Executive Office of the President May 2015

MAKING COLLEGE MORE AFFORDABLE FOR MILLIONS OF AMERICANS. Executive Office of the President May 2015 MAKING COLLEGE MORE AFFORDABLE FOR MILLIONS OF AMERICANS Executive Office of the President May 2015 Making College Affordable for Millions of Americans EXECUTIVE SUMMARY Tomorrow at Lake Area Technical

More information

Types of Financial Aid

Types of Financial Aid Types of Financial Aid The Financial Aid Office at SUNY Maritime College assists students in financing their education by offering financial assistance in the form of scholarships, grants, loans and work-study

More information

Invest in Education By Scott Niederjohn

Invest in Education By Scott Niederjohn By Scott Niederjohn Education as Human Capital Investment takes many forms. One form is the development of human capital the knowledge, skills, health, and values that individuals possess. People develop

More information

YOUR GUIDE TO FINDING THE FUNDS FOR COLLEGE

YOUR GUIDE TO FINDING THE FUNDS FOR COLLEGE YOUR GUIDE TO FINDING THE FUNDS FOR COLLEGE Funded by the Education Services Foundation, our mission is to help Mississippi students plan and pay for college. Jackson: 601.321.5533 Gulf Coast: 228.875.4441

More information

Financial Aid 2014-15

Financial Aid 2014-15 Financial Aid 2014-15 Office of Financial Aid (315) 781-3315 Geneva, NY 14456 www.hws.edu Financial Aid at HWS At Hobart and William Smith, we have a unique approach to financial aid, one rooted in collaboration

More information

College Financial Aid Night

College Financial Aid Night College Financial Aid Night M O R G A N A. K E L L Y D I R E C T O R, S T U D E N T F I N A N C I A L A S S I S T A N C E S A C R E D H E A R T U N I V E R S I T Y Tonight s Agenda Sources and Types of

More information

Financial Aid: Paying for College. Husky for a Day. October 23, 2015

Financial Aid: Paying for College. Husky for a Day. October 23, 2015 Financial Aid: Paying for College Husky for a Day October 23, 2015 Kay Lewis, Assistant Vice Provost, Enrollment Executive Director of Financial Aid and Scholarships UNDERGRADUATE AID OVERVIEW 2014-15

More information

Student Aid Program Summary

Student Aid Program Summary Student Aid Program Summary Most federal student aid is need-based, taking into account an expected family contribution (EFC). Need-based financial aid comes in three basic types: 1. Grants and scholarships,

More information

Office of Student Financial Aid Montgomery College

Office of Student Financial Aid Montgomery College Office of Student Financial Aid Montgomery College What is Financial Aid? Cost of Attendance Expected Family Contribution Determining Financial Need Types and Sources of Financial Aid Financial Aid Process

More information

Fast Facts on Education in America UPDATED FEBRUARY 2014

Fast Facts on Education in America UPDATED FEBRUARY 2014 Fast Facts on Education in America UPDATED FEBRUARY 2014 The climate of postsecondary education in America has changed dramatically since Scholarship America s inception more than 55 years ago. Access

More information

Testimony of Charmaine N. Mercer, PhD Vice President of Policy, Alliance for Excellent Education Before the U.S. House of Representatives Committee on Education and Workforce Keeping College Within Reach:

More information

FAFSA Training. U.S. Department of Education Office of Federal Student Aid

FAFSA Training. U.S. Department of Education Office of Federal Student Aid FAFSA Training U.S. Department of Education Office of Federal Student Aid Today s Topics Myths about financial aid Federal Financial Aid Programs The FAFSA: When and How to Apply What to Expect After Applying

More information

Basic College Process

Basic College Process FINANCIAL AID OVERVIEW Basic College Process Student has taken ACT/SAT tests Student has applied for and been accepted at the institutions they are looking at Student completes FAFSA Student and school

More information

Preparing for College Parent Meeting: Financial Aid. Decatur Middle School April 15, 2015

Preparing for College Parent Meeting: Financial Aid. Decatur Middle School April 15, 2015 Preparing for College Parent Meeting: Financial Aid Decatur Middle School April 15, 2015 Agenda Welcome Objective Types of Financial Aid Where to Start Objective To inform parents of how funding postsecondary

More information

FINANCIAL AID VOCABULARY

FINANCIAL AID VOCABULARY Award Letter Notification of the terms and requirements of the financial aid package offered by a college. College Scholarship Service (CSS) Profile A financial aid application, in addition to the FAFSA,

More information

Topics. Strengthening Student Potential. JWU Strategic Plan. Student Loan Market Financial Risk Enrollment Risk

Topics. Strengthening Student Potential. JWU Strategic Plan. Student Loan Market Financial Risk Enrollment Risk Topics FOSTERING STUDENT SUCCESS AT JOHNSON & WALES UNIVERSITY Tom Dwyer & Marie Bernardo FOCUS 2011 JWU Approach to Enterprise Risk Management Student Loan Market Financial Risk Enrollment Risk External

More information

ADDITIONAL FINANCING OPTIONS. DSU students received over $17.7 million in financial aid in the 2013 award year.

ADDITIONAL FINANCING OPTIONS. DSU students received over $17.7 million in financial aid in the 2013 award year. offers distinctive opportunities in higher education. Our nationally recognized, technology-based curriculum keeps the University on the leading edge of quality programs designed for today s challenges

More information

pack promise. committed to your success

pack promise. committed to your success pack promise. committed to your success We are making a promise that every student admitted to NC State, regardless of income, will have access to a quality education and become part of the Pack. You

More information

A-A A-B A-C C-A C-B C-C PS-A PS-B PS-C X X X

A-A A-B A-C C-A C-B C-C PS-A PS-B PS-C X X X Lesson Plan 1: Financial Aid Vocabulary Core www.ihaveaplaniowa.gov Area: Financial Planning Total Time: 50 minutes Target Grades: Appropriate for 9-12, Recommended for 11 or 12 Suggested Timeline: Grade

More information

The Burden of Borrowing

The Burden of Borrowing The Burden of Borrowing A report on the rising rates of student loan debt The Burden of Borrowing: A Report on the Rising Rates of Student Loan Debt March 2002 By Tracey King and Ellynne Bannon Special

More information

Student Loan ABCs. As trusted financial advisers, CPAs are in a position where clients, friends and family ask about

Student Loan ABCs. As trusted financial advisers, CPAs are in a position where clients, friends and family ask about Student Loan ABCs As trusted financial advisers, CPAs are in a position where clients, friends and family ask about college financing or, more specifically, about student loans. But which one do you recommend?

More information

TITLE Financial aid overview for parents TITLE

TITLE Financial aid overview for parents TITLE Financial aid overview for parents Understand Your Options Finding the money to pay for college is a concern of many parents because they think they can t afford it. It s important to know that families

More information

Paying For College. Who, What, When, Where and How?

Paying For College. Who, What, When, Where and How? Paying For College Who, What, When, Where and How? Four Ways to Pay for College Grants Money that is given to you Scholarships Money that is given to you because of academic achievement, talent, skill

More information

College: A Necessity Priced as a Luxury

College: A Necessity Priced as a Luxury College: A Necessity Priced as a Luxury Six Facts on College and the Middle Class May 2014 A Middle Class Job Does Not Get a Middle Class Life v Today, a middle class job increasingly does not support

More information

FAQ s on Direct Lending

FAQ s on Direct Lending FAQ s on Direct Lending Q1: Why is the University of Houston switching to direct loans? A: On Thursday March 30, 2010 President Obama signed the Health Care and Education Reconciliation Act of 2010 (H.R.

More information

Wisconsin's Great Cost Shift

Wisconsin's Great Cost Shift Dēmos Wisconsin's Great Cost Shift HOW HIGHER EDUCATION CUTS UNDERMINE THE STATE'S FUTURE MIDDLE CLASS I n today s economy, a college education is essential for getting a good job and entering the middle

More information

FEDERAL STUDENT AID PROGRAM SUMMARY

FEDERAL STUDENT AID PROGRAM SUMMARY FEDERAL STUDENT AID PROGRAM SUMMARY Most federal student aid is need-based, taking into account an expected family contribution (EFC). Need-based financial aid comes in three basic types: 1. Grants and

More information

Types of Federal Financial Aid Programs

Types of Federal Financial Aid Programs Types of Federal Financial Aid Programs Students may apply for various need and non-need based programs to assist in paying for the expenses related to attending school. Financial Aid generally consists

More information

The Financial Aid Application Process and Frequently Asked Questions

The Financial Aid Application Process and Frequently Asked Questions The Financial Aid Application Process and Frequently Asked Questions Step 1 - To apply for financial aid, a student must complete the Free Application for Federal Student Aid (FAFSA) each year. Students

More information

Financial Aid Night. 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 sfs@stfranciscollege.edu

Financial Aid Night. 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 sfs@stfranciscollege.edu Financial Aid Night 180 Remsen Street Brooklyn, NY 11201 Phone 718-489-5255 Fax 718-643-0076 sfs@stfranciscollege.edu What is Financial Aid? Scholarships Grants Employment opportunities Loans How To Apply

More information

A Guide to Financial Aid 2015-16. The bottom line and how to pay for it.

A Guide to Financial Aid 2015-16. The bottom line and how to pay for it. A Guide to Financial Aid 2015-16 The bottom line and how to pay for it. The Financial Aid Basics We re glad you are interested in attending Anderson University. Perhaps you have already received your acceptance

More information

THE FINANCIAL AID PROCESS Paying for College

THE FINANCIAL AID PROCESS Paying for College THE FINANCIAL AID PROCESS Paying for College FINANCING COLLEGE Now that you re planning to go to college, there are a lot of things to think about and many questions you need to ask. Probably the biggest

More information

PAYING FOR SCHOOL. Employer Reimbursement. Financial Aid. Scholarships. Benefits for Military Personnel, Spouses, and Veterans

PAYING FOR SCHOOL. Employer Reimbursement. Financial Aid. Scholarships. Benefits for Military Personnel, Spouses, and Veterans PAYING FOR SCHOOL Employer Reimbursement Financial Aid Scholarships Benefits for Military Personnel, Spouses, and Veterans The cost of pursuing an online degree at Kaplan University is much less than the

More information

Family Information Sheet Four: Paying for College!

Family Information Sheet Four: Paying for College! Family Information Sheet Four: Paying for College! Dear Family Member, During today s lesson your student learned about the resources available to help you and your family pay for college. Financial aid

More information

Measures of College Affordability and Student Aid in North Carolina. Analysis by Laura Greene Knapp Education Research Consultant.

Measures of College Affordability and Student Aid in North Carolina. Analysis by Laura Greene Knapp Education Research Consultant. Benchmarks: Measures of College Affordability and Student Aid in North Carolina Analysis by Laura Greene Knapp Education Research Consultant for the North Carolina State Education Assistance Authority

More information

Office of Financial Aid (OFA) Frequently Asked Questions

Office of Financial Aid (OFA) Frequently Asked Questions Office of Financial Aid (OFA) Frequently Asked Questions Who should apply for Financial Aid? The USD OFA recommends that every eligible* student apply for financial aid. Even if you believe you won t qualify

More information

a topic for a future issue brief, please Minnesota is heading into challenging territory. In the decades

a topic for a future issue brief, please Minnesota is heading into challenging territory. In the decades RESEARCH BRIEF September 2011 Minnesota Educational Needs and Higher Education Finance Policy This is one in a series of research-based briefs prepared by the Minnesota Private College Council for members

More information

FINANCIAL AID 101. Claire Alasio Associate Vice President for Enrollment Management Director of Financial Aid Monmouth University

FINANCIAL AID 101. Claire Alasio Associate Vice President for Enrollment Management Director of Financial Aid Monmouth University FINANCIAL AID 101 Claire Alasio Associate Vice President for Enrollment Management Director of Financial Aid Monmouth University Role of the Financial Aid Office Evaluate a family s ability to pay for

More information

Qualifying for the financial aid you deserve MADE $IMPLE

Qualifying for the financial aid you deserve MADE $IMPLE Qualifying for the financial aid you deserve MADE $IMPLE table of contents 2...Paying for college...realizing your dream. 3... Am I eligible? 4...What s available for me? 5...How do I find the financial

More information

Racer Aid. Murray State University Financial Aid Guide for Families

Racer Aid. Murray State University Financial Aid Guide for Families Racer Aid Murray State University Financial Aid Guide for Families Work-study provides students the opportunity to work while going to school. Numerous offices on campus offer employment opportunities.

More information

Presented by: Hayato Suzuki Director of Financial Aid

Presented by: Hayato Suzuki Director of Financial Aid Presented by: Hayato Suzuki Director of Financial Aid Types and sources of aid When and how to apply Completing the FAFSA How to recognize and avoid scams Other college financing options Determine financial

More information

Financial Aid Consumer Information

Financial Aid Consumer Information Financial Aid Consumer Information In accordance with federal regulations set forth by the Higher Education Act of 1965, as amended, NCE provides this Student Disclosures Schedule as means to disseminate

More information

Financial Aid: What You Need to Know

Financial Aid: What You Need to Know Financial Aid: What You Need to Know Presented by: Michelle Anderson Associate Vice President for Enrollment Washington & Jefferson College Presentation Topics What is financial aid? Financial need calculation

More information

Financing a College Education

Financing a College Education Financing a College Education After this program, you should know The types of aid available to students How and when to apply for financial aid How financial aid eligibility is calculated Sources of Financial

More information

Racer Aid. Murray State University Financial Aid Guide for Families

Racer Aid. Murray State University Financial Aid Guide for Families Racer Aid Murray State University Financial Aid Guide for Families Work-study provides students the opportunity to work while going to school. Numerous offices on campus offer employment opportunities.

More information

fyi Federal loans: The smart way to borrow

fyi Federal loans: The smart way to borrow Federal loans: The smart way to borrow If you don t receive enough free money to pay for college and you aren t able to cover your costs with savings or other resources, consider federal student loans.

More information

ABSTRACT THE STATE BENEFITS ENORMOUSLY FROM HIGHER EDUCATION THROUGH

ABSTRACT THE STATE BENEFITS ENORMOUSLY FROM HIGHER EDUCATION THROUGH STUDENT DEBT-AN IMPENDING CRISIS A DESCRIPTION OF THE PROBLEM AND RECOMMENDATIONS AS ADVANCED BY THE FACULTY ADVISORY COUNCIL TO THE ILLINOIS BOARD OF HIGHER EDUCATION JANUARY, 2007 ABSTRACT LOWER AND

More information

STUDENT DEBT MYTHS AND FACTS Second Edition

STUDENT DEBT MYTHS AND FACTS Second Edition STUDENT DEBT MYTHS AND FACTS Second Edition April 2014 The Issue Student loan debt is now approximately $1 trillion, and the delinquency rate for student loans has increased to 10 percent. Critics are

More information

Your Financial Aid Journey. Investing in Your Future 5 Steps to Prepare for College College Financing Options Financial Aid Terms

Your Financial Aid Journey. Investing in Your Future 5 Steps to Prepare for College College Financing Options Financial Aid Terms Your Financial Aid Journey Investing in Your Future 5 Steps to Prepare for College College Financing Options Financial Aid Terms Investing in your future Higher earnings College graduates earn more money

More information

State Funded Financial Aid Overview

State Funded Financial Aid Overview State Funded Financial Aid Overview State funded financial aid seeks to provide access to postsecondary education to the residents of Colorado. The current policy directs the majority of financial assistance

More information

AGENDA ITEM 12. Action requested:

AGENDA ITEM 12. Action requested: AGENDA ITEM 12. SUMMARY OF: INCREASING COLLEGE ACCESS OR JUST INCREASING DEBT? A DISCUSSION ABOUT RAISING STUDENT LOAN LIMITS AND THE IMPACT ON ILLINOIS STUDENTS Submitted for: Summary: Information The

More information

Summer Financial Aid Information and Application

Summer Financial Aid Information and Application Summer Financial Aid Information and Application Read through the following information to help answer questions regarding your application for summer financial aid. What steps do I need to complete in

More information

MEFA s Guide to Paying for College

MEFA s Guide to Paying for College MEFA s Guide to Paying for College Congratulations! The waiting is over, and your student has received college acceptance letters. Now what? Deciding which college or university to attend isn t always

More information

Financial Aid High School Presentation New Jersey Higher Education Student Assistance Authority

Financial Aid High School Presentation New Jersey Higher Education Student Assistance Authority Financial Aid High School Presentation New Jersey Higher Education Student Assistance Authority 2013/2014 Award Year The Mission The Higher Education Student Assistance Authority is the only State agency

More information

A Guide to Financial Aid 2016-17. The bottom line and how to pay for it.

A Guide to Financial Aid 2016-17. The bottom line and how to pay for it. A Guide to Financial Aid 2016-17 The bottom line and how to pay for it. The Financial Aid Basics We re glad you are interested in attending Anderson University. Perhaps you have already received your acceptance

More information

FINANCIAL AID 2013-2014

FINANCIAL AID 2013-2014 FINANCIAL AID 2013-2014 I am so glad I had the opportunity to work on campus during my college experience. The department I worked in put my schoolwork first; they were very flexible and accommodated my

More information

HELPFUL FINANCIAL AID HINTS...

HELPFUL FINANCIAL AID HINTS... TABLE OF CONTENTS HELPFUL FINANCIAL AID HINTS.........................................................................................1 PAYING FOR COLLEGE.................................................................................................2

More information

Fees and Financial Aid

Fees and Financial Aid Fees and Financial Aid Student Costs and Student Fees All fees and all policies governing the refund of fees are subject to change by the Board of Regents, State of Iowa. Current information on tuition,

More information

What is Financial Aid. What is Financial Aid. Cost of Attendance (COA) 2/27/15&

What is Financial Aid. What is Financial Aid. Cost of Attendance (COA) 2/27/15& What is Financial Aid What is Financial Aid Provides access to postsecondary education. Helps pay expenses such as tuition and fees, room and board, books and supplies, and transportation. Cost of Attendance

More information

Financial Aid Basics 2.0: The College Years

Financial Aid Basics 2.0: The College Years Financial Aid Basics 2.0: The College Years Objectives o Students will review financial aid available to them and learn about requirements for maintaining eligibility and recent changes to several aid

More information

FINANCIAL AID FOR LAW SCHOOL: A PRELIMINARY GUIDE. LSAC.org

FINANCIAL AID FOR LAW SCHOOL: A PRELIMINARY GUIDE. LSAC.org LSAC.org FINANCIAL AID FOR LAW SCHOOL: A PRELIMINARY GUIDE INTRODUCTION Legal education is an investment in your future and is a serious financial investment as well. As with any investment, it is important

More information

TRANSITION TO COLLEGE

TRANSITION TO COLLEGE TRANSITION TO COLLEGE A Timeline for High School Students with Mental Illness AUGUST 2014 We have the legal right of way. INTRODUCTION Attending postsecondary education or training is an important decision

More information

National Association of Student Financial Aid Administrators NASFAA 2008

National Association of Student Financial Aid Administrators NASFAA 2008 National Association of Student Financial Aid Administrators What You Need to Know About Financial Aid Topics We Will Discuss Tonight What is financial aid Cost of attendance (COA) Expected Family Contribution

More information

Financial Solutions For Families

Financial Solutions For Families COLLEGE LITERACY ACADEMY The True Story On Who Will Qualify For Financial Aid A Family Guide On Paying For College Financial Solutions For Families (Sixth Edition) Copyright 2006, 2007, 2008, 2009, 2010,

More information

Call or email to schedule services

Call or email to schedule services THE GREAT LAKES GOAL: SENDING MORE STUDENTS TO COLLEGE Put our free services to work in your school, helping 9th-12th graders successfully navigate the path to college. From planning to paying and everything

More information

YOUR FUTURE Preparing for education beyond high school

YOUR FUTURE Preparing for education beyond high school College Outreach YOUR FUTURE Preparing for education beyond high school Anyone considering college has a lot to think about. Let this guide be a resource as you gather the facts on getting the degree or

More information

Learning the Language of Financial Aid

Learning the Language of Financial Aid Learning the Language of Financial Aid An Introduction to Financial Aid Terminology and Basics BHS Guidance Office How do I pay for college? Family support Savings Work Grants Scholarships Loans Financial

More information

FINANCIAL AID UNDERSTANDING YOUR OPTIONS

FINANCIAL AID UNDERSTANDING YOUR OPTIONS FINANCIAL AID UNDERSTANDING YOUR OPTIONS Affording a Best-Value Jesuit Education Every accepted student who attends Wheeling Jesuit University is considered for financial assistance. Wheeling Jesuit is

More information

An Agenda for College Affordability and Degree Completion

An Agenda for College Affordability and Degree Completion MINNESOTA PRIVATE COLLEGE COUNCIL An Agenda for College Affordability and Degree Completion I. The Case for Investing in Higher Education Minnesota benefits from our current above-average level of educational

More information

H. FINANCIAL AID. $8,201,055 H1 State (i.e., all states, not only the state in which your institution is located)

H. FINANCIAL AID. $8,201,055 H1 State (i.e., all states, not only the state in which your institution is located) H. FINANCIAL AID Aid Awarded to Enrolled Undergraduates Enter total dollar amounts awarded to enrolled full-time and less than full-time degree-seeking undergraduates (using the same cohort reported in

More information

Cutting Interest Rates, Lowering Student Debt. An Analysis of the Congressional Proposal to Cut Student Loan Interest Rates in Half

Cutting Interest Rates, Lowering Student Debt. An Analysis of the Congressional Proposal to Cut Student Loan Interest Rates in Half Cutting Interest Rates, Lowering Student Debt An Analysis of the Congressional Proposal to Cut Student Loan Interest Rates in Half January 2007 Acknowledgments Written by Luke Swarthout, Higher Education

More information

Accepted Student Reception Financial Aid Presentation. March 29, 2015

Accepted Student Reception Financial Aid Presentation. March 29, 2015 Accepted Student Reception Financial Aid Presentation March 29, 2015 Understanding Your Financial Aid Award Letter Screen shot of award letter here Screen shot of award letter here Estimated costs and

More information

Student loan terms to know

Student loan terms to know Definition of words related to federal student loans and the Nelnet payment process. Accrue The act of interest accumulating on the borrower s principle balance. Aggregate Loan Limit The maximum total

More information

Part 1 Test Question Bank

Part 1 Test Question Bank Module 1 1. Which is true regarding unemployment rates? a. The unemployment rate for people with a bachelor s degree and a high school diploma are the same. b. People with a bachelor s degree experience

More information

January 2, 2009. Dear Education Desk Officer,

January 2, 2009. Dear Education Desk Officer, January 2, 2009 Office of Information and Regulatory Affairs Attention: Education Desk Officer Office of Management and Budget 725 17th Street, NW, Room 10222 Washington, DC 20503 (also sent via email

More information

Common Data Set 2010-11 H. FINANCIAL AID

Common Data Set 2010-11 H. FINANCIAL AID H. FINANCIAL AID Aid Awarded to Enrolled Undergraduates Enter total dollar amounts awarded to enrolled full-time and less than full-time degree-seeking undergraduates (using the same cohort reported in

More information

College Financial Aid 101

College Financial Aid 101 College Financial Aid 101 The information contained in this presentation is subject to change and does not constitute legal advice. Always consult a financial planner or a tax advisor for detailed information.

More information

The VSAC no-nonsense guide to education loans VSAC

The VSAC no-nonsense guide to education loans VSAC The VSAC no-nonsense guide to education loans VSAC for families of undergraduate students Fall 2014 The straight scoop on undergraduate education loans from VSAC, your trusted college planning advisor

More information

Florida Atlantic University Common Data Set, 2012-13 H. FINANCIAL AID

Florida Atlantic University Common Data Set, 2012-13 H. FINANCIAL AID Florida Atlantic University Common Data Set, 2012-13 H. FINANCIAL AID Aid Awarded to Enrolled Undergraduates Enter total dollar amounts awarded to enrolled full-time and less than full-time degree-seeking

More information

it ta kes a n i n v e s tm en t to build a future

it ta kes a n i n v e s tm en t to build a future it ta kes a n i n v e s tm en t to build a future fin anci al a i d invest in a lasting foundation A university education requires significant investments of time, effort and money. To help you get the

More information

Topics to be covered

Topics to be covered Topics to be covered The High Cost of Higher Education College Savings Strategies Choosing a 529 Plan Financial Aid and Student Loans Why College Is Still Worth It The cost of college has been rising fast

More information

Understanding Financial Aid for Passport to College Students

Understanding Financial Aid for Passport to College Students Understanding Financial Aid for Passport to College Students 2013 Topics Financial Aid Basics Federal and State Programs Foster Youth Specific Financial Aid After Enrollment Resources 2 Financial Aid Basics

More information

62% Student Financing Schedule* What an Education is Worth to Me. Workforce Education Gap. Employed by Degree Type

62% Student Financing Schedule* What an Education is Worth to Me. Workforce Education Gap. Employed by Degree Type Student Financing Schedule What an Education is Worth to Me You can earn an associate degree from Westwood College in as little as months. During that time, you will apply for grants and loans three times.

More information

Are You Ready for College?

Are You Ready for College? Are You Ready for College? Financial AID, Scholarships, School Loans, Work Study, and Grants for College Tuition Patricia Jackson Wadquidia Retta College Tuition College is an expensive expense when your

More information

Costs. Types of Aid. Forms. How much will it cost you? Net cost for a family of 4 earning $120,000 p/year

Costs. Types of Aid. Forms. How much will it cost you? Net cost for a family of 4 earning $120,000 p/year AGENDA Costs Types of Aid Tips for Being a Wise Consumer How Need Based Aid is Calculated Forms Award Letters Rules for Survival 1 Prices Before Financial Aid University of CT Resident University of RI

More information

Paying for School. 6 steps for success. AllNursingSchools.com

Paying for School. 6 steps for success. AllNursingSchools.com 3 This Getting Started Guide is your source for up-to-date information about choosing a nursing school or program. Use these tips to get organized and motivated and get going on making your dreams a reality.

More information

What You Need to Know about Financial Aid

What You Need to Know about Financial Aid National Association of Student Financial Aid Administrators What You Need to Know about Financial Aid Topics We Will Discuss Tonight What is financial aid Cost of attendance (COA) Expected Family Contribution

More information

Annual Report on the Virginia Plan for Higher Education. State Council of Higher Education for Virginia

Annual Report on the Virginia Plan for Higher Education. State Council of Higher Education for Virginia 0 Table of Contents Overview... 2 Objective: Be the Best-Educated State by 2030... 2 Goals in Support of The Virginia Plan... 3 2015 Activities to Support The Virginia Plan... 4 Measures and Targets: Baseline

More information

Types of Financial Aid Programs

Types of Financial Aid Programs Students may apply for various need and non-need based programs to assist in paying for the expenses related to attending school. Financial Aid generally consists of a combination of grants and loans which

More information