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Financial Aid and Scholarship

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					Financial Aid and Scholarship

       Seminar for Parents
        Christy Baker, Counselor
         Greg Smith, Counselor
        Overview of Seminar

ü 3 types of financial aid
ü FAFSA
ü A+ Program
ü Midwest Student Exchange Program
The Financial Aid Pie
                     3 types of aid

ü Gift Aid
   ü Typically Do Not Have to be Repaid
   ü Grants
   ü Scholarships



ü Loans
ü Work Study
                             Gift Aid

Grants
-Accessed by completing the Free Application for Federal
   Student Aid (FAFSA)

   Federal Pell Grant:
   -Need Based
   -Award ranges from $0-$5500 per year
   -Must be enrolled at least ½ time and in a program that leads to a
   degree or certificate
                          Gift Aid

üGrants
 Federal Supplemental Educational Opportunity Grant (FSEOG):
 * Exceptional Financial Need
 *Receive Between $100-$4000
 *Limited Funds
                           Gift Aid

üGrants
  ü TEACH Grant

  ü A+ Program
      ü State Grant

  ü http://studentaid.ed.gov/PORTALSWebApp/students/english/grants.jsp
             A+ Program

üTwo years free tuition at a Missouri
 public community college or career-
 technical school (6 semesters – includes
 summers)
üFunding is dependent on continued
 approval from the Missouri General
 Assembly
             A+ Eligibility

üGPA at least 2.5
ü95% attendance over 4 years
ü50 hours of tutoring/mentoring
üGood citizenship
üMust fill out FAFSA
üBoys must register for Selective Service
üClass of 2015 must score proficient or
 advanced on Algebra I EOC
        A+ Mentor/Tutor Hours
üMust be supervised by a school official
üImmaculate Conception Grade School does
 serve as a mentor/tutor sight
üCan be done at summer school (limited basis)
üRight Start Mentor hours count for A+
üStudents taking A+ as a class must turn in log
 sheets monthly and complete other
 assignments as required
     Maintaining A+ Eligibility
        After High School
üMust be used within 4 years of high
 school graduation
üMaintain a 2.5 GPA on a 4.0 scale while
 attending any post-secondary institution
üComplete the FAFSA each year
                             Gift Aid

üScholarships
  ü National
     ü Fastweb-www.fastweb.com
     ü Federal Student Aid Website
        ü http://studentaid.ed.gov/PORTALSWebApp/students/english/scholarships
          .jsp?tab=funding

     ü St. Louis Graduates
        ü http://www.stlouisgraduates.org/students-families/scholarships


  ü “Local”
  ü Institutional
                  Loans

üSubsidized vs. Unsubsidized
üStafford
  ü Subsidized or Unsubsidized
  ü Currently at 3.4% interest (for Subsidized
    Loans)
  ü Has loan origination fees
  ü 1st year---$5500 max (only $3500 may be
    subsidized)
  ü 6 month grace period
                  Loans

üPerkins
  ü Strictly need based
  ü Subsidized
  ü Limited funding-not every school
    participates
  ü 5% Interest
  ü No loan origination fees
  ü $5500 per year max
  ü 9 month grace period
      Loans and Work Study

üPLUS Loan
  ü Loan for parents
üPrivate Education Loans


üWork-Study
  ü Part-Time
  ü Minimum Wage
  ü On-Campus
 Midwest Student Exchange Program
              (MSEP)
ü Allows non-resident students to receive
  reduced tuition at MSEP participating
  campuses
ü Over 140 colleges in 9 states participate
     ü Illinois, Indiana, Kansas, Michigan, Minnesota,
       Missouri, Nebraska, North Dakota, Wisconsin
Public Schools                      Private Schools
150% of In-State Tuition            10% Reduction in Tuition


       http://www.mhec.org/MidwestStudentExchangeProgram
    Free Application for Federal Student Aid
                    (FAFSA)

ü www.fafsa.ed.gov
ü Available January 1st to June 30
ü Necessary for all need based aid
ü Calculates your Estimated Family Contribution
  (EFC)
ü Qualifies you for federal, state, private and
  institutional aid
ü It is 100% Free!!!!!!
                     FAFSA

üWhat needs to be done?
  ü Now:
     ü Apply for a PIN
        ü www.pin.ed.gov
     ü Fill out the FAFSA on the Web worksheet
       (optional)
  ü January 1st
     ü Submit tax return early
     ü Gather needed documents
        ü SSN, DL, W-2, Tax returns, Bank Statements, etc.
                      FAFSA

üWhat needs to be done?
     ü Know the deadlines
        ü ECC priority deadline is March 1st
        ü Missouri’s deadline is typically April 1st
     ü Submit the FAFSA ASAP
  ü After Submitting
     ü Will get a Student Aid Report (SAR)
     ü Contact the Colleges Financial Aid Department
         Private or Public?

üDon’t be scared away by sticker shock
üClass size
üOpportunities for research
                      Resources
üFinancial Aid
  ü FAFSA
     ü www.fafsa.ed.gov
     ü www.pin.ed.gov
  ü Scholarships
     ü www.fastweb.com
     ü https://studentaid2.ed.gov/getmoney/pay_for_college/types_scholarshi
       ps.html
     ü http://union.k12.mo.us/UHS/guidance.html
     ü http://www.stlouisgraduates.org/students-families/scholarships
  ü Loans
     ü http://www.finaid.org/loans/studentloan.phtml
     ü http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloan
       s.jsp
                     Resources
üFinancial Aid
  ü East Central College
     ü http://www.eastcentral.edu/stuserv/finaid/ApplyingForFA.html
     ü http://www.eastcentral.edu/stuserv/finaid/FullFAandSGuide09.pdf
  ü Other
     ü http://studentaid.ed.gov/PORTALSWebApp/students/english/PellGrants
       .jsp?tab=funding
     ü http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp

ü MSEP Program
  ü http://www.mhec.org/MidwestStudentExchangeProgram
                  Resources

üCollege/Career Exploration
  ü   http://www.bls.gov/oco/
  ü   https://studentaid2.ed.gov/xap_pack/Default.asp
  ü   http://www.college.gov/wps/portal
  ü   http://www.petersons.com/
  ü   http://www.missouriconnections.org/
  ü   http://www.khake.com/page51.html
              Resources

üACT Preparation
  ü www.actstudent.org
  ü http://www.testprepreview.com/
  ü Study Guides located in the guidance
    department
  ü ACT Workshops-Check in the guidance
    office
Questions?

				
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