The Financial Aid Process Academic Magnet High School Financial Aid Presentation Presenter: Erica Harrison-Jones

General duties of the financial aid office Determines eligibility for Federal, State, and Institutional financial aid Completes the federal verification process Exercises professional judgment for special circumstances Provides guidance to students and parents regarding financial aid programs and processes

The various forms of financial aid Scholarships (Institutional and Outside) Grants (Federal, State, and Institutional) Employment Opportunities Loans (both Parental and Student)

State Scholarships and Grants

Enhancement for LIFE/Palmetto Fellows State Scholarships SC Palmetto Fellows SC LIFE Scholarship SC HOPE Scholarship Enhancement for LIFE/Palmetto Fellows

State Scholarship - General Eligibility Be a South Carolina Resident* Be a U.S. citizen or permanent resident Be enrolled as a first time degree-seeking student at an eligible SC public or private institution Certify that student has not been convicted of any felonies and has not been convicted of any second alcohol or drug- related misdemeanor within the past academic year. Verify that student does not owe a refund or repayment on any Federal or State aid Must be a SC resident at the time of graduation and initial college enrollment.

Palmetto Fellows $6,700 1st year, $7,500 next 3 years 3.5 HS GPA, 1200 SAT/27 ACT and rank in top 6%, or if school does not rank; 4.0 HS GPA, 1400 SAT/32 ACT Requires nomination by the high school guidance counselor during senior year Renewal: 3.0 Institution GPA and 30 Hours each year, does not include AP, dual-enrollment, etc.

LIFE Scholarship up to $5,000 for 4 years At 4 year colleges, must meet 2 of the following 3: 3.0 HS GPA, 1100 SAT / 24 ACT, top 30% of class Renewal: 3.0 LIFE GPA, includes all college course from any school 30 Hours cumulative average per year, includes AP, dual-enrollment, etc. i.e. 30 hours after 1st year, 60 after 2nd year, 90 after 3rd year

HOPE Scholarship $2,800 for 1st year only At 4 year colleges: 3.0 HS GPA Not renewable, but student can become LIFE eligible

Enhancement additional $2,500 2nd - 4th years Majoring in math or science fields– please review the institution’s eligible majors. Varies by institution. Must be receiving Palmetto Fellows or LIFE Take 14 hours of math and/or natural science by end of 1st year (can include AP/IB, dual enrollment courses)

SC Tuition Grants Up to $2,600 Available at private colleges in SC 2.0 HS GPA or 900 SAT / 19 ACT or top 75% Complete FAFSA and have financial need Renewable

SC Need Based Grant Up to $2500 annually Available at SC public institutions Awarded to students that display financial need Requires the submission of a FAFSA to be considered (priority deadline) Can be awarded up to 8 semesters

Institutional Scholarships

Outside/Private Scholarships $200 to $20,000+ Corporate scholarships: Wal-Mart, Target, Coca-Cola, NUCOR, GE-Reagan Foundation, Buick Achievers, Ronald McDonald House, etc…. Private Foundations: Gates Millennium Foundation, I’m First, Strom Thurmond Foundation, C.G. Fuller, Coastal Community Foundation Civic organization scholarships: PTA, Elks Club, Exchange Club Local Scholarships: N. Edgar Miles, Sirrine (Greenville County), Watson-Brown (specific counties in SC and GA)

Finding Outside Scholarships High School Guidance Counselors Specialized scholarship search engines Schoolsoup.com, Fastweb.com, Scholarships.com College websites Parents’ employers Any organizations that you participate in: church, sports, clubs, fraternal societies, etc. Google, Yahoo! or other search engines Start early, work diligently, apply to as many as possible Avoid paying for scholarship search

Federal Financial Aid

Who should complete the FAFSA???

Quick Facts about FAFSA Should be completed regardless of whether you think you qualify or not Used to determine grant and loan eligibility (EFC) Priority deadline in place (varies by institution) Must be completed to borrow funding from the federal government Must be completed every academic year Becomes available around January 1st Professional judgment may be applied for extenuating circumstances Eligibility is based on previous year’s tax data IRS Data Retrieval Tool (voluntary but highly recommended)

Before making an admissions decision Research the costs associated with the schools in which you have been accepted Cost of attendance Comparison of the full aid package available from each school Be mindful of acceptance deadlines and how to accept the awards that you have been offered Utilize the net price calculator

Net Price Calculator Federal Mandate of all colleges Starts today

Helpful Tips to Remember Adhere to scholarship deadlines (using a calendar to keep up with dates) Be sure to complete the FAFSA early!! Be sure to retain copies of all documents submitted for scholarships Be sure to check your email/junk folder regularly for award notifications

Thank you!!