Funding Your Career Goals

Understanding Financial Aid

Financial Aid = $ for College Scholarships Free Money awarded based on a student’s ability Grants Free Money awarded based on student’s financial need Student Loans Money borrowed for education that must be paid back with interest.

Federal Funding and submitting the FAFSA Free Application for Federal Student Aid (FAFSA) FAFSA.ed.gov Digital application to determine family need for education assistance Currently family adjusted gross income <$36,000 Full Pell grant = $6,195 annually Guaranteed Student Loans are also a part of Federal Aid packages; current rate is 3.79% compounded DAILY!

State Funding HOPE Scholarship Required ACT of 21 or GPA of 3.0 Use at any instate two or four year school $3000/$3500 per year Then $4500 Jr/Sr. Year TN Promise No academic requirement Use up to an Associates Degree Award varies by unmet tuition Complete ALL Promise activities Wilder-Neifeh No academic requirement Use at any TCAT $2000 per year TSAA Need based aid Must be Pell eligible Award varies from $1000-$4000 depending on school type

Senior Stairway to College FAFSA/TN Promise deadline Feb. 1 TN Promise closes Nov. 1 FAFSA opens Oct. 1 Senior Stairway to College College admissions open TN Promise opens, Aug. 1 TN Promise timeline 2019-20

No Academic Requirement!!; TN Resident, TN High School graduate TN Promise Last dollar scholarship towards TUITION ONLY Can be used towards an Associates Degree Program at Public and Private in-state schools Online application (TNPromise.gov) Mandatory meetings (2) Community service (8 hours each semester) No Academic Requirement!!; TN Resident, TN High School graduate

Tennessee Student Assistance Corporation TN Promise Examples A B C Tuition $4,000 Pell/TELS/TSAA -$5,815 -$3,000 $0 Gap $1,000 TN Promise $0 Tuition $1,000 $0 $4,000 $0 Tennessee Student Assistance Corporation

Career goals What kind of college? Matching your career goals to post-secondary training. College for TN mapping your future ONET

Which one fits YOUR goals? Technical School: Short term, hands on study Community College: Two year degrees for workforce or transfer Four Year Public Institution: Traditional college or university Four Year Private Institution: Privately funded, may have affiliations Which one fits YOUR goals?

Finding the right post-secondary experience Your College Academic Record Extra Curricular Program of Study Environment Student Clubs

Erika Adams Outreach Specialist East TN Tennessee Student Assistance Corporation erika.adams@tn.gov 615-417-0355 Twitter: @erikaadams40