Financial Aid Training. Tara Smith Coordinator of Financial Aid

Transcription

1 Financial Aid Training Tara Smith Coordinator of Financial Aid

2 Academic Challenge Scholarship

3 It is our hope that the lottery funded scholarship known as the Arkansas Academic Challenge Scholarship will: increase student success reduce student loans prepare more students for high wage high demand jobs benefit Arkansas s economy increase the percentage of adults in Arkansas that hold a college degree

4 NEW Academic Challenge Increase participation of direct from high school students from 3,600 to over 10,000 annually Projected to serve over 29,000 students during the academic year

5 Arkansas Academic Challenge Scholarship Student categories Traditional Current Achiever Nontraditional

6 General Eligibility Requirements U.S. Citizen or Lawful Permanent Resident Arkansas Resident Attend an eligible Arkansas Institution Satisfactory Academic Standing Continuing Eligibility Requirements

7 Academic Challenge Scholarship Scholarships awarded under the NEW Academic Challenge will begin Fall 2010 NO INCOME REQUIREMENT Aligned with Smart Core Expanded to include nontraditional students Basic eligibility criteria Traditional Students Accepted for admission at an approved institution of higher education as a full time student in a program of study that leads to a baccalaureate degree, associate degree, qualified certificate or a nursing school diploma Applicant must complete the YOUniversal Scholarship Application and the FAFSA

8 Academic Challenge Scholarship Traditional Traditional Student requirements (cont..) Must meet one of the following criteria: Grade Inflation Clause Delayed Until 2011 Graduate from an Arkansas public high school, successfully complete the Smart Core curriculum and achieve a 2.5 high school GPA OR obtain a 19 on the ACT (before 2014 No Smart Core), Graduate from an Arkansas public high school, achieve a 2.5 high school GPA AND obtain a 19 on the ACT OR score proficient on all state mandated end of course assessments If student graduates from an Arkansas public high school that is identified as a school in which 20% or more of the students received a letter grade of B or higher but did not score proficient or higher on the end of course assessment, the student must achieve a 2.5 high school GPA AND obtain a 19 on the ACT OR score proficient on all state mandated end of course assessments

9 Academic Challenge Scholarship Traditional If a student has a disability identified under the Individuals with Disabilities Education Act and graduated from an Arkansas public high school but did not complete the Smart Core because of the applicant s individualized education program, the student must achieve a 2.5 high school GPA AND obtain a 19 on the ACT OR score proficient on all state mandated endof course assessments Graduate from a private, out of state high school or home school and achieve a 19 on the ACT

10 Academic Challenge Scholarship Traditional Continued Eligibility Criteria: Maintain a 2.50 cumulative GPA Complete 27 semester hours the first academic year and 30 semester hours each year thereafter Renewed annually until recipient first: 1. Earns Bachelor s degree 2. Attempts a total of 130 semester hours in 8 semesters The Academic Challenge Scholarship requires Traditional students to: take 12 hours during the first Fall semester after high school graduation and take 15 hours each semester thereafter complete remediation within the first 30 hours of coursework

11 Current Achievers Academic Challenge Scholarship Current Achievers Accepted for admission at an approved institution of higher education as a full time student in a program of study that leads to a baccalaureate degree, associate degree, qualified certificate or a nursing school diploma Applicant must complete the YOUniversal Scholarship Application and the FAFSA

12 Academic Challenge Scholarship Current Achievers Current Achievers Must meet all of the following criteria Entered college before the academic year as a full time first time freshman within 12 months after graduating high school Has been continuously enrolled (fall and spring), completing at least 12 hours each semester, since high school graduation Has completed at least 12 semester credit hours at an approved Arkansas institution Achieved a 2.5 postsecondary GPA

13 Academic Challenge Scholarship Current Achiever Continued Eligibility Criteria: Maintain a 2.50 cumulative GPA Complete 15 semester hours each consecutive semester (Fall & Spring) Renewed annually until recipient first: 1. Earns Bachelor s degree 2. Attempts a total of 130 semester hours in 8 semesters The Academic Challenge Scholarship requires Current Achiever students to: take 15 hours each semester complete remediation within the first 30 hours of coursework

14 Funding CAP for Current Achievers Current Achiever student funding: $41.5 Million for If sufficient funds are not available, awards will be prioritized Level of progress toward completion of their baccalaureate or associate degree, certificate program or nursing diploma Highest cumulative GPA Students majoring in an area identified as a critical workforce need, and the STEM fields

15 Academic Challenge Scholarship Nontraditional Nontraditional Students Accepted for admission at an approved institution of higher education as a full time or part time student in a program of study that leads to a baccalaureate degree, associate degree, qualified certificate or a nursing school diploma Applicant must complete the YOUniversal Scholarship Application and the FAFSA

16 Academic Challenge Scholarship Nontraditional Nontraditional Students Must meet one of the following criteria Graduate from an Arkansas public high school and achieved a 2.5 high school GPA or obtained a 19 on the ACT; or Graduated from a private high school, out of state high school, home school or obtained a GED and achieved a 19 on the ACT; or Has completed at least 12 semester credit hours and achieved a 2.5 postsecondary GPA.

17 Academic Challenge Scholarship Nontraditional Continued Eligibility Criteria: Maintain a 2.50 cumulative GPA Complete 15 semester hours each semester (Fall and Spring) if a full time student and at least 6 semester hours each semester if a part time student Renewed annually until recipient first: 1. Earns Bachelor s degree 2. Attempts a total of 130 semester hours in 8 semesters The Academic Challenge Scholarship requires Nontraditional students to: take at least 6 hours each semester for part time take at least 15 hours each semester for full time complete remediation within the first 30 hours of coursework

18 Funding CAP for Nontraditional Students Nontraditional student funding: $12 Million for If sufficient funds are not available, awards will be prioritized Level of progress toward completion of their baccalaureate or associate degree, certificate program or nursing diploma Highest cumulative GPA ACT or ACT equivalent score Students majoring in an area identified as a critical workforce need, and the STEM fields

19 AWARD AMOUNTS $5,000 per year for full time students at a 4 year institution Scholarship at a 2 year college will be one half (50%) of the scholarship award amounts for 4 year institution Award amounts will be prorated for part time students (only applies to nontraditional category) ½ award amount 6 8 hours ¾ award amount 9 14 hours

20 Academic Challenge Scholarship Application Deadline Dates: Traditional Students June 1 of senior year in high school Can start applying in September of Senior year Current Achiever Students June 1 for the Fall term November 1 for the Spring term Nontraditional Students June 1 for the Fall term November 1 for the Spring term

21 Application/Award Statistics Number of Applicants: Traditional (High School Seniors) 16,797 Current Achiever/Nontraditional 37,065 Number Awarded (so far): Traditional (High School Seniors) 10,723 Current Achiever/Nontraditional Will start awarding in July

22 Administrative Processing 1. Electronic (TRIAND) transcripts Transcript retrieval Smart Core criteria (SEE HANDOUT) GPA ACT & other test scores 2. Notifications to students ( s) 1. Award Notices 2. Incomplete Notices 3. Ineligible Notices

23 New Universal Application for ADHE Scholarships and Grants Launched on January 1, 2010 Search and apply for all ADHE administered scholarships and grants at one time Receive status notifications Available all year, but deadlines built into processing Manage your account 24/7 to include: Updating personal information and college Reviewing transcript and test score information

24 Universal Application Homepage

25 Scholarship Reporting System for Counselors Reporting abilities: List of Seniors that have submitted scholarship application Status of Application Provide the ACT/GPA/Smart core indication that is being used to evaluate student What other reporting items would be helpful???

26 QUESTIONS???

27 Contact Information: (501)