Paying for College Everything You Need To Know About Scholarships and Financial Aid

Maximize Your Financial Aid The financial aid system has evolved over many decades and is based on a well-established set of rules. The Philosophy of Financial Aid Best interest of society to receive a college education but after individuals have used up all of their own financial resources Financial Aid is not designed to help you spend less money on college but rather help you afford to go to college if you could not afford it on your own

The FAFSA and CSS Profile Based on “financial need” Free Application for Federal Student Aid (FAFSA) Uses your previous year’s taxess that will reveal all of the money you have in savings, investments, and will examine family income College Board’s CSS Financial Aid Profile – may be required by some private colleges Once the FAFSA is completed, colleges put together a financial aid package

Expected Family Contribution Examines: Parents adjusted income Parents assets Student’s income (if applicable) Student’s assets (if applicable) Other Factors Considered: Family size Number of children in college at the same time

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What is the Timeline for Applying to Financial Aid? September-December Focus on your college applications January-February Complete and submit your FAFSA March Review your Student Aid Report which will be sent to you after you submit your FAFSA April You should receive both your college acceptance letters and financial aid packages. Review and compare your aid packages May This is the typical deadline for accepting all or part of your financial aid package

The Facts on Scholarships A scholarship is a sum of money awarded to eligible students to assist with paying for college. The money is applied to tuition and/or living expenses, and it does not need to be repaid.

The Facts on Scholarships Scholarships are available to students for many reasons: Sports Community and Volunteer Service Academics After-school or summer jobs Special Interests (hobbies, club membership, activities, etc.)

The Facts on Scholarships Billions of dollars in scholarship money are available Only about 7 percent of college students take advantage of scholarships from private sources as a way to help pay for college

Getting Over Scholarship Hurdles Hurdle #1: “What if I don’t qualify?” Solution: There are scholarships available for everyone. Do your research and you will find a scholarship that you are eligible for.

Example of a Real Scholarship! Duck Brand Duct Tape "Stuck At Prom®” You and your prom date attend your senior prom dressed in formal wear you’ve fashioned out of Duck brand duct tape and submit a photo of yourselves to their website. Ten finalists are selected and visitors to the site then vote on them. Each of the two entrants that make up the couple who gets the most votes gets $3,000 towards college.

Getting Over Your Scholarship Hurdles Hurdle #2: “Where do I find them?” Solution: There are resources everywhere to help you search, like the internet, the library, and colleges.

Where to Start Career Center Family Connection Loudoun County Website Services>School Counseling>Scholarship Information

Getting Over Your Scholarship Hurdles Hurdle #3: “How do I begin completing the application?” Solution: Create a personal assessment document that describes WHO YOU ARE.

Assess Who You Are – Make a List! Strengths—Academic and Personal Activities and Hobbies Clubs Sports Community Service Religious Affiliation Academic Interests

Getting Over Your Scholarship Hurdles Hurdle #4 “What if I don’t have enough time?” Solution Make Time! Find ways to reuse essays, recommendation letters, etc. for multiple scholarship applications.

How Scholarships Are Awarded Scholarships are awarded by: Foundations Corporations and labor unions Churches, clubs, and groups Individuals Government Colleges

How Scholarships Are Awarded Scholarships are awarded based on eligibility criteria: Intended major Where you live or your high school Race, ethnicity, or religion Type of college Physical ability, disability, or disease diagnosis Your job Academics Essay responses Talents

How Scholarships Are Awarded Scholarships reward your character traits: Talents Ambitions Responsibilities Honesty Goals Leadership skills

Creating a Personal Assessment What’s a personal assessment? Summarizes your best qualities Lists what you do and what you’ve done What are the benefits? Serves as an outline when writing essays Improves your applications and saves you time when applying

Creating a Personal Assessment To Know Thy Knight Self Assessment Form Activities/Resume in Family Connection Create it any way you want, just be honest and reflective. Create it early and keep it updated—you can use it again and again!

Searching for Scholarships Where to look? Who to ask? Online Books (look for the most recent publications) Colleges’ Financial Aid Departments Your parents, teachers, employers, club leaders, coaches

Searching for Scholarships Be Aware of Scholarship Scams Don’t apply if there’s a fee Be skeptical of a phone call Look out for strange contact information Be careful of endorsements Watch out for “Guarantees” Protect your personal information

Applying for Scholarships Sample Scholarship Essay Questions “Describe how you contribute to your community and what you have learned from your experiences.” “Describe an academic challenge you have faced, and how you have overcome it.”

Applying for Scholarships Tips for completing your applications: Follow the directions Proofread your essay Ask a parent, teacher, or friend to proofread your application If applying via , make sure the address used is appropriate (i.e., don’t use

Applying for Scholarships Timeline for applying: Start looking up to one year before you actually need the funding Apply for scholarships during your junior and senior year of high school Continue to search and apply for scholarships every year you attend college

Paying for College Project Your task is to choose a College or University and explore opportunities for covering the costs that surround this further education for one year. Use the College Board College Search to help you answer the following questions. You can also use your chosen college's official website for information.