MAC College Money Program makes sure that finding money for college is easy for anyone in McLennan County who wants to get a degree.

How do I get money for college and where do I start? Financial Aid and the FAFSA How do I get money for college and where do I start?

Financial Aid Reality Check College costs are up and financial aid is down: Dependent Student Independent Student Maximum Pell Grant $5,775 Maximum Loans (for an incoming Freshman) $5,500 $9,500 Total $11,275 $15,275 Reality Check: Without other funds what colleges can you afford?

How do I pay for College? CollegeforAllTexans.com

Research Scholarships Check on scholarship through employers, banks and other businesses. Scholarship search engines Scholarships.com College Board Cappex Zinch Fastweb CollegeNet Read over financial aid info on the websites of the colleges you are considering. Check out scholarship opportunities and deadlines. Apply for Scholarships at all colleges to which you apply for admissions.

Four Types of Scholarships College/University Specific Criteria Based Academic Athletic Financial Participation/Talents/Characteristics Community Service/Clubs Contest Military – ROTC Scholarships

Ways to Pay! Free Money Student Loans/Parent Loans Wages Grants Scholarships Student Loans/Parent Loans Federal Subsidized or Unsubsidized Conditional Loans Wages Work Study on Campus Job off Campus College Savings Traditional Savings Account College Savings Plans - 529

The FAFSA Complete at FAFSA.gov or make an appointment with us. The FAFSA is released Jan 1st The earlier the better, but most colleges request it by at least March 1st State of Texas priority deadline is March 15th If your college is out of state their priority deadline may be even earlier Submit your Free Application for Federal Student Aid (FAFSA) as soon as you can after January 1st Use estimates if necessary and update your FAFSA later

The FAFSA: How It Works fafsa.gov The EFC number determines your need and the college uses it to award Federal, State and Campus Based Aid. A FAFSA must be submitted every year you’re in college to receive federal aid. fafsa.gov Can be completed after January 1 Deadline for State Funding: March 15

SAR: Student Aid Report FAFSA: Free Application for Federal Student Aid EFC: Expected Family Contribution SAR: Student Aid Report FAFSA EFC SAR Your Schools Up to Ten!

The FAFSA: Dependency You must have supporting documents You are married You are pursuing a graduate degree You are or have been on active duty You have children or dependents you support Your parents are both deceased You are or were a ward of the court, in foster care, or an emancipated minor You are under a legal guardianship, as determined by the court You are homeless or at risk of being homeless There are special circumstances The FAFSA: Dependency If you are under the age of 24 when you submit your FAFSA, you will need to report parents’ financial information unless any of these apply to you. You must have supporting documents

Federal Student Aid ID fsaid.gov A FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Student and Parent must each create an FSA ID

The FAFSA: Parent Information You will need to report the tax information of your biological, adopted or step parents. No one else can be reported as a parent. If your parents are divorced, choose the parent you are living with or stayed with the most over the last year. If you don’t live with a parent you will report information on the last parent you lived with. It does not matter who claims you on their tax return or pays child support for you.

The FAFSA: Your Financial Info You will need to report your own income information from any W-2 you receive even if you don’t file a tax return.

The FAFSA: Your Assets You will have to report any money in accounts under your name Your assets will count against you more than your parents’ assets Since you report current assets, you want your bank accounts at their lowest when you submit your FAFSA.

The Award Package will cover up to your Student Need Cost of Attendance* Less EFC Student Need *Total cost including tuition, fees, books and living expenses

Student Loans: The basics Go into repayment 6 months after you stop attending college Student is responsible! Amount limited by year and lifetime limits Low Interest Rate Some are interest free while in college (Subsidized Loans) Federal and State loan programs There are also parent loans available

Federal TEACH Grant Not Need Based You must sign a contract to teach for 4 years If you do not teach after graduating, this grant becomes a loan you must pay back

Always Check Your Financial Aid Never assume your college has all the paperwork they need from you: Read your Student Aid Report Check for emails from you college Contact financial aid at your college Your college’s Financial Aid department is separate from their Admissions department

Need Help with the FAFSA? The MAC College Money Program offers free assistance to anyone needing help with the FAFSA and have done so for 20 years. We help complete around 2,000 FAFSAs per year!

MAC College Money Program Every high school senior in McLennan County may apply to the MAC College Money Program before May 1st We offer a MAC Grant and a MAC Scholarship You can apply online at WacoFoundation.org A few of our recipients

MAC College Money Program MAC Grant Eligibility Criteria Student graduated from a McLennan County High School or GED Program Student’s family earns less than $50,000 or has special circumstances Student submits a MAC College Money Program Application by May 1st of his or her high school senior year

MAC College Money Program MAC Grant Covers the tuition left over from other scholarships and grants up to $1,000 per semester for two years The MAC Grant may only be used at MCC or TSTC, unlike the MAC Scholarship

Why Submit A MAC College Money Program Application? No cost to you, we only require that you submit a FAFSA and MAC Application by May 1st Even if you are not planning to attend MCC or TSTC, the MAC Scholarship for your 3rd and 4th year still requires an application your senior year of high school. Even if your family currently makes more than $50,000, if your situation changes you can be reconsidered in the future but you must have initially applied in high school.

MAC College Money Program MAC Scholarship Eligibility Criteria Student has earned 60 college credit hours and has a cumulative GPA of at least 3.0 Student has been accepted into the MAC College Money Program Student submitted a MAC Scholarship Application by December 1st of his or her college sophomore year

MAC College Money Program MAC Scholarship $5,000 scholarship ($1,250 per semester) for two years or until you receive your Bachelor's degree at any college or university whichever comes first Of the MAC Scholarship applicants who plan on transferring to Baylor University for their last two years, the applicants with the top three GPAs will receive a full scholarship To receive the MAC Scholarship, a student must have submitted their MAC College Money Program application by the end of their high school senior year, so apply now even if you aren’t going to MCC or TSTC!

Questions

Need More Help? Give Us A Call and Make An Appointment! Robbie Stabeno, MAC and Scholarships Director rstabeno@wacofoundation.org Jessica McAdoo, MAC Program Coordinator jmcadoo@wacofoundation.org Look for us online: WacoMAC wacomac.wordpress.com Find us at the Waco Foundation: WacoFoundation.org 1227 N Valley Mills, Ste 235 Waco, TX 76710 Phone: 254.752.9457 Fax: 254.753.2887