Financial Aid for College Amy Malasky Financial Aid Advisor Wake County Public Schools

Who is Ms. Malasky? Financial Aid Advisor at Broughton, Enloe, Garner, Vernon Malone College & Career Academy, Wake STEM Early College, WYWLA and WYMLA Available by appointment only Email: amalasky@wcpss.net

Process for College Matriculation 1. Complete college admissions application(s) 2. Complete scholarship applications 3. Complete the FAFSA 4. Receive Expected Family Contribution (EFC) and Student Aid Report (SAR) 5. Acceptance letters sent from colleges 6. Financial award letters sent from colleges 7. Make final decision about attendance and inform 8. Send final high school transcript to college & register

Cost of Attendance Hard costs: Tuition Fees Room & board Soft costs: Books and supplies Transportation Living Expenses Miscellaneous

What is financial aid? Money for college 4 forms of financial aid Gift aid 1. Grants 2. Scholarships Self-help aid 3. Loans 4. Work Study/Employment

Grants Federal Pell Grant undergraduate students with exceptional need maximum award for 2017-18: $5,920 Federal Supplemental Educational Opportunity Grant priority given to Federal Pell Grant recipients awards vary from $100 to $4,000 NC Community College Grant awards vary from $100 to $1,500 TEACH Grant commit to work as a full-time teacher in high-need field in a low-income school for 4 academic years meet certain academic achievement requirements University of North Carolina Need-Based Grant for students attending one of the 16 UNC campuses

Scholarships NC Education Lottery Scholarship amounts range from $100 - $3,000 NC Need Based Scholarship for NC residents attending private NC colleges NC Reach for students currently or previously in NC’s foster care system

College Loans Be wise – Don’t borrow more than you need! Commit to completing your degree program! Direct Subsidized Loan – students who demonstrate financial need, interest is subsidized while in school Direct Unsubsidized Loan – all students are eligible, interest begins accrual upon disbursement PLUS loan – parent loan, credit check required Perkins Loan – university serves as lender, not available everywhere Forgivable Education Loans for Service – willing to work in NC in a critical employment shortage profession Alternative/Private loan – a last resort

FAFSA Free Application for Federal Student Aid www.fafsa.ed.gov EVERYONE should complete the application. Requires 2016 income tax information 2018-2019 document available Oct. 1, 2017 Complete by your college’s priority deadline! IRS Data Retrieval Tool – inputs tax info for you FSA ID for student AND parent to “sign” document

What happens next? Expected Family Contribution (EFC) Student Aid Report Colleges receive information and create award letters Verification possibly Example Cost of Attendance $20,000 - EFC $5,000 Financial Need $15,000

CSS/Financial Aid PROFILE® Required in addition to FAFSA Fee - $25/first school, thereafter $16/school In North Carolina Davidson College Duke University Elon University University of North Carolina-Chapel Hill Wake Forest University

Common Myths Community college is a waste of time. What a relief! Once I complete the FAFSA, I never have to do it again. Taking out loans to pay for college is a bad idea. I can take as long as I want to finish college and still receive financial aid. Private colleges are too expensive for me.

Amy Malasky by appointment amalasky@wcpss.net