How Do I Pay for College? A discussion on funding solutions with Bradley Moore, Senior Advisor Texas A&M University

With Help Financial Assistance Financial Assistance GrantsGrants LoansLoans Work-StudyWork-StudyScholarships InstitutionalInstitutional PrivatePrivate

Scholarships Consult college/university scholarships website for application procedures. Most, but not all, Texas Universities have their scholarship applications available at ApplyTexas.org Consult college/university scholarships website for application procedures. Most, but not all, Texas Universities have their scholarship applications available at ApplyTexas.org Apply for as many private scholarships as you can find. Consult your college counselor, GO Center mentors, free scholarship search engines, corporate/organization websites, such as: Apply for as many private scholarships as you can find. Consult your college counselor, GO Center mentors, free scholarship search engines, corporate/organization websites, such as: fastweb.comfastweb.com scholarships.comscholarships.com cbcfoundation.orgcbcfoundation.org scholarships.tamu.eduscholarships.tamu.edu

Financial Assistance Complete the Free Application for Federal Student Aid (FAFSA) at fafsa.gov Complete the Free Application for Federal Student Aid (FAFSA) at fafsa.gov Priority Deadlines often in March. Priority Deadlines often in March. State aid priority deadline March 15. State aid priority deadline March 15.

What is the FAFSA? A financial aid application created by the U.S. Department of Education.A financial aid application created by the U.S. Department of Education. Collects important information about the students family, such as:Collects important information about the students family, such as: IncomeIncome Taxes paidTaxes paid Family size, number of children in collegeFamily size, number of children in college Demographic information such as address, social security numbers, etc.Demographic information such as address, social security numbers, etc.

Required Information Social Security Numbers Social Security Numbers Parent’s Information (name, DOB, marital status) Parent’s Information (name, DOB, marital status) Tax returns, W-2/1099 forms, bank statements Tax returns, W-2/1099 forms, bank statements Household size Household size Number of household members in college Number of household members in college Non-retirement investment net worth Non-retirement investment net worth Electronic signatures Electronic signatures

IRS Data Retrieval Tool FAFSA information must now be retrieved directly from the IRS unless your status is:FAFSA information must now be retrieved directly from the IRS unless your status is: Married filing separatelyMarried filing separately You file an amended returnYou file an amended return You file a Puerto Rico or foreign income tax returnYou file a Puerto Rico or foreign income tax return If you cannot use the data retrieval tool you must submit a corrected FAFSA using the tool as soon as you are able, or be subjected to extra scrutiny. Contact your financial aid office for more information.If you cannot use the data retrieval tool you must submit a corrected FAFSA using the tool as soon as you are able, or be subjected to extra scrutiny. Contact your financial aid office for more information.

IRS D ATA R ETRIEVAL T OOL Opens feb 3 Opens feb 3

Verification The Department of Education and/or the receiving institution may select your FAFSA for verification. The Department of Education and/or the receiving institution may select your FAFSA for verification. This means you must submit documentation to Financial Assistance office verifying the information provided on your FAFSA. This means you must submit documentation to Financial Assistance office verifying the information provided on your FAFSA. Copy of IRS tax return transcript, verification worksheets and proof of identification are the common requirements. Contact aid office for more information. Copy of IRS tax return transcript, verification worksheets and proof of identification are the common requirements. Contact aid office for more information.

Expected Family Contribution (EFC) Amount family can reasonably be expected to contribute.Amount family can reasonably be expected to contribute. Stays the same regardless of college.Stays the same regardless of college. Two ComponentsTwo Components - Parent contribution- Parent contribution - Student contribution- Student contribution Calculated by the Dept. of Education using FAFSA data.Calculated by the Dept. of Education using FAFSA data.

Financial Need Formula Cost of Attendance - Expected Family Contribution - Expected Family Contribution_________________________ =Financial Need

Federal Pell Grant Federal Entitlement Program Federal Entitlement Program Cannot receive for more than 12 semesters Cannot receive for more than 12 semesters EFC threshold: $0-$5157 EFC threshold: $0-$5157 Amount: $602-$5830 Amount: $602-$5830

Toward Excellence, Access and Success (TEXAS) Grant  Amount varies by university (up to $8000)  Texas resident  Not convicted of controlled substance crime  EFC less than $4800  Priority for meeting two of the following categories:  Distinguished Achievement/IB diploma/12 hours college credit (AP/IB/dual credit)  TSI Readiness  Graduate top 33% or have B average (80+)  Complete a math course having Algebra II as prerequisite

Texas Educational Opportunity Grant (TEOG)  Amount varies by community college (up to $2700)  Texas resident  Not convicted of controlled substance crime  EFC less than $4800

Top 10% Scholarship  Amount varies based on funding  Must be in top 10% of high school class  School MUST receive valid FAFSA by March 15.  Must have “financial need”  Renewable with 3.25 GPA and 30 credits completed

Student Employment Work-Study programs offer students ability to work part-time (10-20 hours/week)Work-Study programs offer students ability to work part-time (10-20 hours/week) Wages earned through work-study useable for all education related expenses such as:Wages earned through work-study useable for all education related expenses such as: TuitionTuition BooksBooks HousingHousing Personal expensesPersonal expenses

Federal Student Loans Federal Direct Subsidized loan programFederal Direct Subsidized loan program Fixed 4.66% int. rate, no payments while in school, year flexible repayment plans.Fixed 4.66% int. rate, no payments while in school, year flexible repayment plans. Federal Direct Unsubsidized loan programFederal Direct Unsubsidized loan program Fixed 4.66% int. rate, no payments while in school, year flexible repayment plans.Fixed 4.66% int. rate, no payments while in school, year flexible repayment plans. Parent Loan for Undergraduate Students (PLUS)Parent Loan for Undergraduate Students (PLUS) Fixed 7.21% int. rate, payments deferrable while student attends school, 10 year repayment plan.Fixed 7.21% int. rate, payments deferrable while student attends school, 10 year repayment plan.

Alternative Loans College Access Loan (CAL)College Access Loan (CAL) Student loan program offered by Texas Higher Education Coordinating BoardStudent loan program offered by Texas Higher Education Coordinating Board Parent as cosignerParent as cosigner Fixed 5.25% interest rate.Fixed 5.25% interest rate year repayment depending on amount10-20 year repayment depending on amount

Tuition Exemptions The state has programs for students who: Were in foster care Were in foster care Were adopted out of care Were adopted out of care Were the highest ranking scholar for their school Were the highest ranking scholar for their school Are blind or deaf Are blind or deaf Are Texas Veterans or children of Texas Veterans (Hazlewood Act) Are Texas Veterans or children of Texas Veterans (Hazlewood Act) Child of certain disabled/deceased Texas public servants Child of certain disabled/deceased Texas public servants Visit for fact sheets & links to other higher education resources for students Visit for fact sheets & links to other higher education resources for students

Misconceptions about Applying for Financial Aid

My Parent’s Income is too High to Apply for Aid Financial aid is intended to make a college education available to families in a number of different financial situations; everyone qualifies for something.Financial aid is intended to make a college education available to families in a number of different financial situations; everyone qualifies for something. Income is only one of many factors considered.Income is only one of many factors considered. A growing number of institutional and private scholarships require that students fill out the FAFSA as part of their application process.A growing number of institutional and private scholarships require that students fill out the FAFSA as part of their application process.

My Grandparents/Guardian can provide their Income Information on my FAFSA If your parent(s) are still alive, federal guidelines require that biological parent’s information be used to fill out the Free Application for Federal Student Aid (FAFSA) unless someone else is your legal guardian or you have a severe extenuating circumstance.If your parent(s) are still alive, federal guidelines require that biological parent’s information be used to fill out the Free Application for Federal Student Aid (FAFSA) unless someone else is your legal guardian or you have a severe extenuating circumstance. Legal guardianship must be court ordered; students stating they live with guardians MUST provide court documents proving such.Legal guardianship must be court ordered; students stating they live with guardians MUST provide court documents proving such.

My Stepparent does not Have to Provide Income Information on my FAFSA Stepparent's information must be included on your financial aid application if you lived in the stepparent's household for 6 weeks (42 days) or more during the previous or current year or if a stepparent contributed more than $750 in "support" during the previous or current year. Stepparent's information must be included on your financial aid application if you lived in the stepparent's household for 6 weeks (42 days) or more during the previous or current year or if a stepparent contributed more than $750 in "support" during the previous or current year. "Support" means money for such things as housing, food, clothing, transportation, medical care and school. "Support" means money for such things as housing, food, clothing, transportation, medical care and school.

My Parents are Divorced or Separated, which Parent Should Complete the FAFSA The parent whom the student resided with the longest over the last 12 months provides their information on the FAFSA; both parents are not required. The parent whom the student resided with the longest over the last 12 months provides their information on the FAFSA; both parents are not required. If you lived with each parent for an equal number of days, use the income information from the parent who provided you with the most support during the last 12 months. If you lived with each parent for an equal number of days, use the income information from the parent who provided you with the most support during the last 12 months. "Support" means money for such things as housing, food, clothing, transportation, medical care and school. "Support" means money for such things as housing, food, clothing, transportation, medical care and school.

Special Circumstances The FAFSA is a generic application that does not allow consideration for issues not reflected in the tax return information The FAFSA is a generic application that does not allow consideration for issues not reflected in the tax return information All Financial Aid offices have paperwork useable to alert about special circumstances such as high medical bills, reduced employment, job loss, etc. All Financial Aid offices have paperwork useable to alert about special circumstances such as high medical bills, reduced employment, job loss, etc. Visit schools financial aid website or call for more information Visit schools financial aid website or call for more information

Texas Application for State Financial Aid Some students not eligible to complete a FAFSA may still receive some aid by utilizing a TASFA Some students not eligible to complete a FAFSA may still receive some aid by utilizing a TASFA These students would not be U.S. citizens or noncitizens eligible for Federal Student aid but considered Texas residents for education purposes, eligible for State aid under Texas Senate Bill 1528 (lived in TX and attended TX HS three years leading up to graduation These students would not be U.S. citizens or noncitizens eligible for Federal Student aid but considered Texas residents for education purposes, eligible for State aid under Texas Senate Bill 1528 (lived in TX and attended TX HS three years leading up to graduation Application available at: collegefortexans.com or your institutions financial aid website Application available at: collegefortexans.com or your institutions financial aid website

I’m Independent of My Parents

Need Help? Help is available through many outlets: High School counselors Financial Aid office at college/university you plan to attend Bradley Moore, Texas A&M University Phone: