University High School, October 11, 2016, 6:15-7:15pm Building Bridges to Post-Secondary Success University High School, October 11, 2016, 6:15-7:15pm Session 5: How Do I Pay for College? Please remember to enjoy some refreshments before and after the session in the culinary arts lounge outside the PAC.

Goals To ensure families have the needed information to guarantee students the opportunities to pursue post-secondary education, regardless of their financial status. Beginning course details and/or books/materials needed for a class/project.

Essential Questions What kinds of financial assistance is available for students wanting to pursue post-secondary education? How does a student apply for financial aid? What kinds of documentation is necessary when applying? Where is help available? A schedule design for optional periods of time/objectives.

Introduction of Guests Dr. Scott McClanahan, Director, Office of Advanced Academic Studies, Waco ISD Ms. Robbie Stabeno, Director of Scholarships and MAC program, Waco Foundation Ms. Brittany Davis, Academic Advisor, University High Ms. Shawntee Reed, College and Career Readiness Counselor, Waco High Ms. Samantha Smith, Administrative Assistant, Office of Advanced Academic Studies, Waco ISD Introductory notes.

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

As well as any deadlines you must meet! Look at the college website of all your possible colleges.

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

How do I pay for college? CollegeforAllTexans.com

Federal Student Aid

Call or email us we can help!! FAFSA.GOV

Be sure to use IRS Data Retrieval Tool Deadline? The earlier the better, but you should compete by at least March 1st January1st. State of Texas priority deadline is March 15th (This may change) If your college is out of state their priority deadline may be even earlier Submit your Free Application for Federal Student Aid (FAFSA) for 2017-18 school year anytime after October 1st Be sure to use IRS Data Retrieval Tool

The winners receive State Aid and possibly Institutional Aid ! Your competing with all the other students planning to attend! The FAFSA is your entry form. The winners receive State Aid and possibly Institutional Aid !

Before you Start the FAFSA! FSAID.ED.GOV Student and One Parent both need to create

Parent and Student email must be different! Create an extra email address if necessary. You do not have to use an email address but it is recommended.

Be sure you go to the correct website! FAFSA.GOV This one is free other websites will charge you for submitting the FAFSA.

Can I just use my own income? Probably not but there are a few exceptions!

The FAFSA: Independent? 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 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

The FAFSA: Who is considered a parent Biological Parent Adoptive Parent Step Parent living with a biological Parent 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

The FAFSA: Parent and Student Information

SAR: Student Aid Report FAFSA: Free Application for Federal Student Aid EFC: Expected Family Contribution SAR: Student Aid Report FAFSA EFC SAR Up to Ten Schools! The EFC number determines your need and the college uses it to award Federal, State and Campus Based Aid.

The FAFSA: Parent and Student Assets You will have to report any money in accounts under Student or Parent Social Security Number Student assets can lower the funding the student receives. Since current assets are reported (as of today), you will want all bank accounts at their lowest when you submit your FAFSA. There are some assets that don’t have to be reported.

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

Other Financial Aid Scholarships (from the College or outside source) Federal Teach Grant (StudentAid.gov) Scholarships for Health Care Fields (HRSA.gov) Texas College Access Loan (CAL Loan-CollegeforAllTexans.com) Alternative Loans

Financial Aid Reality Check College costs are up and financial aid is down: Dependent Student Independent Student Maximum Pell Grant $5,815 Maximum Loans (for an incoming Freshman) $5,500 $9,500 Total $11,315 $15,315 Reality Check: Without other funds what colleges can you afford?

Scholarships Scholarship search engines Fastweb Scholarships.com College Board Cappex Zinch 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. Local scholarships Follow us @ WacoMac – Twitter or Facebook

Check On Your Financial Aid

After the FAFSA is Processed Never assume the college has all the paperwork they need from you: Read your Student Aid Report (SAR) Check for emails from you college Contact financial aid at your college The college Financial Aid department is separate from their Admissions department

Once your financial aid is awarded be sure you accept it through your account at the college website!

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 22 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 Current MAC recipients

MAC College Money Program MAC Grant Eligibility Criteria Student graduates from a McLennan County High School or GED Program or is a McLennan County resident graduating from an out of county high school 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 A last dollar grant that covers the tuition not paid by 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

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: How Much? $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. Three students transferring from MCC receive a full scholarship to Baylor University for their last two years, Based on GPA Eligibility for MAC Scholarship: Student must have submitted their MAC College Money Program application during their high school senior year, so apply now!!

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, you can get money later from MAC Scholarship Program 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.

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 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