T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Financial Aid 101 Funding a College Education

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Tennessee Student Assistance Corperation

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Who is This Guy??? How is he helping me find money for College?

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION COLLEGE How much money will I need for College

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Financial Aid Terms COA – cost of attendance; varies by institution EFC – expected family contribution; number derived from the FAFSA and used to determine need based aid eligibility FAFSA – Free Application for Federal Student Aid PIN – personal identification number; used to electronically sign the FAFSA SAR – student aid report; summary of FAFSA information Grant – free money based on need Loan – money borrowed that must be paid back with interest Scholarship – free money awarded on the basis of merit, skill, or unique characteristic Verification – random “audit” of FAFSA Work study – money received from on campus employment

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Student Loans

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Financial Aid Sources Package FederalStatePrivateInstitutional

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Many Different Options Public, Private, Community College, Technical College, Proprietary Institutions,(Full Profit)

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Institutional Aid Academic Competitive? Renewable? Deadlines Need-Based Determined by the EFC College may use “Institutional Methodology” Performance Art Athletic Major Music Theatre Attribute Church affiliation Alumni Diversity Sibling

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Deadline to apply for scholarships? December 15th

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FRESHMEN 2013 NOVEMBER 1

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION COST OF ATTENDANCE Most College and University Web sights will have a way to determine the average cost of attendance at their institution

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Cost of Attendance Direct Costs TuitionRoom & BoardFees Indirect Costs BooksTravelPersonal

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Cost of Attendance 2-yr Public 4-yr Public TN Private; Out of State Tuition/Fees$3,077$8,396$40,320 Room/Board$3,890$8,480$13,560 Books/Supplies$950$1,448$1,344 Transportation$3,024$1,654VARIES Miscellaneous$400$3,593$3,330 COA$11,341$23,571$58,554

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION 0 EFC; 3.0 GPA2-yr Public4-yr PublicTN Private COA$11,341$23,571$58,554 Pell Grant$5,550 TSAA$1,300$2,000$4,000 HOPE$3,500$5,500 Scholarships??? $42,304 Total Free Aid$10,350$13,050$57,354 Financial Aid Award

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Financial Aid Award 4996 EFC; 3.0 GPA 2-yr Public4-yr PublicTN Private COST$11,341 $23,571$58,554 Pell Grant$0 TSAA$0 HOPE$2,000$4,000 Scholarships??? Total Free Aid$2,000$4,000

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION ACT TEST DATEREGISTRATION DEADLINELATE FEE DEADLINE October 27, 2012September 21, 2012October 5, 2012 December 8, 2012November 2, 2012November 16, 2012 February 9, 2013January 11, 2013January 18, 2013 March 19, 2013**JUNIORS** SEE SCHOOL COUNSELOR April 13, 2013March 8, 2013March 22, 2013 June 8, 2013May 3, 2013May 17, 2013 ACT

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION SAT TEST DATEREGISTRATION DEADLINELATE FEE DEADLINE October 6, 2012September 7, 2012September 21, 2012 November 3, 2012October 4, 2012October 19, 2012 December 1, 2012November 1, 2012November 16, 2012 January 26, 2013December 28, 2012January 11, 2013 March 9, 2013February 8, 2013February 22, 2013 May 4, 2013April 5, 2013April 19, 2013 June 1, 2013May 2, 2013May 17, 2013 SAT

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Other Aid Academic Common MarketCSS ProfileFee Discount Program

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA FAFSA on the Web – Available January 1, 2013 – (VERY IMPORTANT!) – PRIORITY DEADLINE IS AS SOON AS POSSIBLE AFTER JANUARY 1, 2013!

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION DO NOT FREAK OUT

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA FAFSA on the Web – Available now – (VERY IMPORTANT!) – PRIORITY DEADLINE IS AS SOON AS POSSIBLE AFTER JANUARY 1, 2012!

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Student Aid Report Notification of FAFSA processing results via e- mail (if provided on FAFSA) or paper (if not provided on FAFSA) or online Review data for accuracy Institutional Student Information Report (ISIR) sent to colleges listed on FAFSA two weeks after initial FAFSA submission Additional documentation may be requested by institution; verification

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA Hope Scholarship $1,000 or $2,000 per semester 21 ACT or 980 SAT or 3.0 GPA GAMS $500 per semester 29 ACT or 1280 SAT & 3.75 GPA Aspire Award $750 per semester Parents AGI <=$36,000

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA Hope Access $875 or $1,375 per semester 18 ACT & 2.75 GPA & Parents AGI <=$36,000 Wilder- Naifeh $2,000 Certificate/ Diploma TTC TSAA $1,000 – $4,000 0 – 2100 EFC FAFSA January

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION

FAFSA Pell $602 - $5,550 0 – 4995 EFC Need based FSEOG $100 - $4,000 Exceptional financial need Work Study Amount Varies Typically paid to student

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA Subsidized Stafford 3.4% fixed or 6.8% fixed Interest does not accrue Unsubsidized Stafford 6.8% fixed Interest does accrue Parent PLUS 7.9% fixed Interest does accrue

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Loan Wisdom Borrow Federal first because they’re cheaper, more available, and have better repayment terms than private student loans. Live like a student while you’re in college so you don’t have to live like one after college. Do not borrow more for your entire education than your expected starting salary after you graduate. If you are borrowing more than $10,000/year for college, consider a less expensive school.

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Private Aid School counselor Other high school websites

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION

Online Applications Ned McWherter Up to $6,000 February ACT & 3.5 GPA Dependent Children Award amount varies See brochure Dual Enrollment Grant High school juniors/seniors Contact institution

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Senior Year Checklist F ALL S EMESTER  Take and retake the ACT/SAT  Apply to several colleges (admissions, institutional aid, etc) and utilize their net price calculators  Complete local/private scholarship applications S PRING S EMESTER  Complete FAFSA available January 1, 2013  Continue completing local/private scholarship applications  Review college acceptances, compare financial aid packages, ask questions, and follow up as needed

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION Contact Info

T ENNESSEE S TUDENT A SSISTANCE C ORPORATION FAFSA Social Security Number, Last Name, and First Name Grade level – never attended college and 1 st year undergraduate Degree – 1 st bachelor’s degree, associate degree, certificate or diploma School codes Dependency questions Parental information Income information