Beyond The FAFSA Jodi Then, Sr. Education Advisor March 2017 Beyond The FAFSA Jodi Then, Sr. Education Advisor American Student Assistance Patricia Briggs, Associate Director, Dartmouth College

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Multilingual Advisors What we do Free Services Walk-in only, no appointment necessary! One-on-one Advising Assistance completing applications and forms Resources on education, financial aid and loan counseling Multilingual Advisors English, Spanish, Chinese, French, and Haitian-Creole @ASAPlan4College ASA College Planning Center

About Dartmouth College Widely recognized for the extraordinary quality of its undergraduate teaching, Dartmouth offers a liberal arts education for the 21st century: education in and beyond the classroom plus the preparation to go out and change the world. Presentation Title

Student Debt Remains a Growing, Critical National Problem

Getting in is not enough! Why you must consider affordability in your college selection process Likely, Target and Reach Schools “Financial Safety Schools” ASA College Planning Center

Cost of Attendance (COA) (The Whole Kit & Caboodle) Direct Costs (AKA “The BILL”) Fees Room & board Tuition You will be BILLED for Tuition/Fees and Room and Board if you live on campus. This is what is known as a TERM Bill. A school cannot bill you for the other “Stuff” – fast food, laundry, phone calls, school supplies, dorm decorations, etc. However, you will need to purchase or acquire many of these items. So the total cost for a student to attend a college for one year will include what is on the bill, PLUS whatever extras (necessity or luxury) you need to purchase. For those looking to cut costs, the extras are where you can save some money. Think about buying dorm decorations and other supplies from a thrift store or dollar store. Stock up on snacks from COSTCO to bring with you so you don’t’ have to spend a fortune at the vending machine. Also, ask your school if there are lower-cost residence halls or meal options available. + Indirect Costs (Everything Else)

COA-EFC = Financial Aid Need Some more key terms Expected Family Contribution (EFC) Determines how much need-based aid you are eligible to receive. NOT necessarily the amount you will pay! COA-EFC = Financial Aid Need ASA College Planning Center

Net Price vs. Sticker Price Each school has a price tag, but few will pay that price You won’t know how much each school will cost for YOU until after you apply Sticker Price Gift Aid Net Price ASA College Planning Center

EFC = $2000 Eligible for 66350

$19,350

EFC = $2000 Presentation Title

EFC = $2000 $5,452 Presentation Title

Colleges that meet 90-100% of need Amherst College (MA) Barnard College (NY) Bates College (ME) Boston College (MA) Brown University (RI) Bryn Mawr College (PA) Bowdoin College (ME) Bucknell University (PA) California Institute of Technology Carleton College (MN) Claremont McKenna College (CA) Clark University (MA) Colby College (ME) Colgate University (NY) College of the Holy Cross (MA) College of Wooster (OH) Colorado College (CO) Columbia University (NY) Connecticut College (CT) Cornell University (NY) Davidson College (NC) Denison University (OH) Dickinson College (PA) Duke University (NC) Dartmouth College (NH) Emory University (GA) Franklin and Marshall College (PA) Franklin W. Olin College (MA) Georgetown University (DC) Gettysburg College (PA) Grinnell College (IA) Hamilton College (NY) Harvey Mudd College (CA) Haverford College (PA) Harvard University (MA) Johns Hopkins University (MD) Kenyon College (OH) Lafayette College (PA) Lehigh University (PA) Macalester College (MN) Massachusetts Institute of Technology (MA) Middlebury College (VT) Mount Holyoke College (MA) Northwestern University (IL) Oberlin College (OH) Occidental College (CA) Pitzer College (CA) Pomona College (CA) Princeton University (NJ) Reed College (OR) Rice University (TX) Saint John’s College (NM) Saint Olaf College (MN) Scripps College (CA) Sewanee: The University of the South (TN) Smith College (MA) Stanford University (CA) Swarthmore College (PA) Thomas Aquinas College (CA) Trinity College (CT) Tufts University (MA) Tulane University (LA) Union College (NY) University of Chicago (IL) University of Notre Dame (IN) University of Pennsylvania (PA) University of Richmond (VA) University of Rochester (NY) University of Southern California Vanderbilt University (TN) Vassar College (NY) Wabash College (IN) Wake Forest University (NC) Washington and Lee University (VA) Washington University, St. Louis, (MO) Wellesley College (MA) Wesleyan University (CT) Williams College (MA) Wheaton College (MA) Yale University (CT) ASA College Planning Center

Massachusetts Colleges that meet 90-100% of need Amherst College Boston College Clark University College of the Holy Cross Harvard University Massachusetts Institute of Technology Mount Holyoke College Smith College Tufts University Wellesley College Williams College Wheaton College ASA College Planning Center

These Amounts Vary at each school! NYU= $71,750 Unmet Need $37,750 Federal Work-Study $3,500 Student Loan $5,500 These Amounts Vary at each school! Grant $13,500 Colleges use the EFC to determine eligibility for financial aid, then try to meet the eligibility (or fill the barrel) with financial aid from all resources Most colleges are not going to be able to fill the barrel The EFC always goes into the barrel first Unmet need is more common than not Explain what happens to EFC when there is unmet need. In this example, if the student decides to attend this institution, the family will need to contribute the EFC plus unmet need ($5000 + $3000 = $8000) for the student to attend Use this as an example to demonstrate how the EFC is often the MINIMUM contribution for a family, not necessarily a MAXIMUM Explain the difference between direct and indirect costs in the COA and that even though the college won’t bill the student for indirect costs, the family still needs to determine how they will be met Explain ways that students can reduce indirect costs, such as used books and cheaper travel Explain how outside scholarships may affect the financial aid The $5,500 student loan might actually be $5,500 of Direct Loans, which will include at least $2,000 in Unsubsidized Loans. Unsubsidized Loans don’t technically fill in financial need, though when students don’t have their entire financial need met with other aid, the Unsubsidized Loan does help to fill that need Scholarship $9,500 EFC $2,000

Grade Point Average (GPA) SAT or ACT scores Leadership Need Tough Decisions Grade Point Average (GPA) SAT or ACT scores Leadership Need Future donor status Residency Status Athletics Legacy Status Incoming Freshman ASA College Planning Center

Finding a College That’s Right for THE STUDENT Location Major Size Part-time or full-time Affordability ** ** Affordability is a major factor in the college admissions process, primarily because it is a 4-year journey and you must consider being able to pay for 4 years. It does no good to the student to attend for one year and then withdraw b/c of lack of finances.

Can impact institutional aid Outside Scholarships Read the fine print Not always renewable Can impact institutional aid ASA College Planning Center

What makes a successful scholarship application? ASA College Planning Center

Provide specific examples…DETAILS!!! What’s in an essay? SHOW your vision of where you want to be and your understanding of the world around you. Provide specific examples…DETAILS!!! Show impact of activity on you AND those around you. SHOW RESULTS!!! Show WHY you are doing_____________ and HOW __________________________ it helps to transform others. ASA College Planning Center

Turn your obstacles into achievements. Make the most of what you have. What’s in a leader? Turn your obstacles into achievements. Make the most of what you have. Do not assume the reader “gets” your experience…Provide detail!! What you think is boring is NOT! ASA College Planning Center

Traditional Leadership Captain of the basketball team. President of the debate club. Member of the track team for 4 years. Co-founder of new school activity. Mentor to younger kids. Youth program participant. ASA College Planning Center

Non-Traditional Leadership Translator for family. Help elderly neighbor with groceries. Care for younger siblings. Care for special-needs family member. Work to help pay bills and support the family. Do household chores. ASA College Planning Center

For Massachusetts residents only Red Pine Scholarship http://www.tpi.org/scholarship/red-pine-scholars-program For Massachusetts residents only Adjusted gross family income of <$80K At least $5000 of unmet need. Maximum award is $20,000 Must be enrolled in and pursuing a Bachelor’s Degree ASA College Planning Center

For Massachusetts residents only Yawkey Scholarship http://www.tpi.org/scholarship/yawkey-scholars-program For Massachusetts residents only Adjusted gross family income of <$65K OR EFC < $5000 Maximum award is $25,000 Must be enrolled in and pursuing a Bachelor’s Degree at a PRIVATE College!!! ASA College Planning Center

Financial barriers to completing financial aid Submit EVERYTHING ON TIME!! Do NOT ignore your email!!! Call/email the Financial Aid office of each school you are applying. ASA College Planning Center

Main location: Boston Public Library, Copley Square Come visit us! Main location: Boston Public Library, Copley Square 700 Boylston St. Boston, MA 02116 (617) 536-0200 or Toll-free: (877) 332-4348 Mon-Thurs. 9AM-7:30PM Friday-Saturday 9AM-5PM ASA College Planning Center

Resources http://collegecost.ed.gov College Navigator: Search for and compare colleges on criteria including costs, majors offered, size of school, campus safety, and graduation rates. College Scorecard: The College Scorecard helps you find out more about affordability and value so you can make more informed decisions about which college to attend. Net Price Calculator: Net Price Calculators help you estimate how much colleges cost after scholarships and grants. Presentation Title

Thank you