Family Contribution. College Scholarship. External Scholarships. Private Loans. Federal/State Aid and Loans

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2 Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans

3 Direct Cost Tuition, on-campus room and board, and any special fees Indirect Cost Books Fees Transportation College Supplies

4 Savings plan Current assets Income Payment plans Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans

5 Institutional Scholarships Athletic, music, art, leadership, etc. Other merit-based scholarships Endowed scholarships Need-based grants Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans

6 Civic Organizations Lion s Club Rotary Club Veterans Benefits Guidance Counselor Websites Military Service Scholarships (ROTC) Vocational and Educational Services for Individuals with Disabilities Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans

7 Alternative education loans Student or parent can apply Credit based Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans

8 FAFSA Free Application for Federal Student Aid (file each year) Can be used for Early Estimated Awards A standard form that collects demographic and financial information about the student and family Use it to apply for federal and state student grants, work-study, and loans Family Contribution College Scholarship External Scholarships Private Loans Federal/State Aid and Loans

9 Cost of Attendance - Expected Family Contribution = Financial Need

10 Calculated by the Federal Government based of family's FAFSA data Amount family can, reasonably, be expected to contribute to college Colleges use EFC to award financial aid

11 Complete the FAFSA after January 1 st online at Have 2014 tax return information available in order to complete accurately List the schools you want to receive your information The results (EFC) will be used by the schools to determine your financial aid award

12 Parents: remember if you are completing the FAFSA for the student, use the student s social security number and birth date Try not to leave any questions blank- this could cause delays in the processing of your application You must provide signatures using your FAFSA pin Provide a reliable address- all notification will be sent here

13 Change in employment status Medical expenses not covered by insurance Change in parent marital status Unusual dependent care expenses

14 Need- based Federal Aid Federal Pell Grant Federal Supplemental Educational Opportunity Grant Federal College Work Study Federal Direct Stafford Loans 4.66% Interest Rate Direct Subsidized Stafford Loan does not accrue interest while enrolled at least ½ time Direct Unsubsidized Stafford Loan (interest accrues) Federal Perkins Loan 5% Interest Rate Schools receive limited allocation of funds to award Federal Direct Parent Plus Loan 7.21% Interest Rate Credit based, in Parent s name Parent has option to have loan payments deferred while student is enrolled at least half-time

15 Forgivable Education Loans for Service Available to North Carolina Residents committed to working in NC in a field designated as critical employment shortage areas (Nursing, Middle Grades Education, Special Education, and others) Apply online at College Foundation website: The North Carolina Need Based Scholarship Available to North Carolina Residents attending a Private Institution Must Complete the FAFSA Expected Family Contribution (EFC) of $15,000 or less Award amounts range from $1,600 to $7,500

16 Free Application for Federal Student Aid (FAFSA): FAFSA Pin: College Foundation: Direct Loans (student and parent): Scholarship Search: General Financial Aid Information:

17 Financial Aid Office at the Institution you are interested in attending High School Guidance Counselor

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