Demystifying the Financial Aid Process for Minority Students RMASFAA Conference 2010 October 11, 2010

The Gates Millennium Scholars (GMS) Program, established in 1999, is a 1.6 billion dollar initiative funded by grant from the Bill & Melinda Gates Foundation. The goal of GMS is to promote academic excellence and to provide an opportunity for 20,000 outstanding students with significant financial need to reach their full potential. Purpose Gates Millennium Scholars 10/11/2010

Program Overview Reduce financial barriers for students of color with high academic and leadership promise who have a significant financial need. – African American – Hispanic American – American Indian/Alaska Native and – Asian Pacific Islander American Increase the representation of target groups in disciplines where people of color are severely underrepresented. – computer science, education, engineering, library science, mathematics, public health and the sciences Provide seamless support from undergraduate through selected graduate programs in support of developing a diversified cadre of future leaders for America. Gates Millennium Scholars 10/11/2010

UNCF—the United Negro College Fund is the administrator of the GMS initiative and has partnered with the following organizations: Asian & Pacific Islander American Scholarship Fund American Indian Graduate Center Scholars Hispanic Scholarship Fund About the Program Gates Millennium Scholars 10/11/2010

Eligibility Criteria African American, American Indian/Alaska Native, Asian Pacific American or Hispanic Americans; Citizens/permanent residents of the United States; Cumulative GPA of 3.3 on a 4.0 scale (at the time of confirmation); Will enroll for the first time at a U.S. located, accredited college or university in the fall of 2011 as a full-time, degree-seeking, first-year student (with the exception of students pursuing a high school diploma while concurrently enrolled). First-time college enrollees can also be GED recipients. Significant demonstrated financial need as defined by Federal Pell Grant eligibility criteria; and Demonstrated leadership commitment through participation in community service, extracurricular or other activities that reflect leadership abilities. Gates Millennium Scholars 10/11/2010

Gates Millennium Scholars  Last-dollar scholarship award  Funds unmet need as determined by the financial aid award letter provided by the institution  Provides opportunity for undergraduate college education in any discipline or field  Awards are renewable for Gates Millennium Scholars maintaining satisfactory academic progress Awarding Process: April - October 10/11/2010

Gates Scholars are eligible to renew their award annually based upon specified funding term limits. Graduate level Gates Scholars must study one of the following disciplines to renew their award: Computer Science Education Engineering Library Science Mathematics Public Health Science Awarding Process: April - October Gates Millennium Scholars 10/11/2010

Scholarship Awards GMS has awarded over $593 million in scholarships since the year 2000 Average award : $11,593 Funded over 14,000 Gates Scholars at over 1,500 colleges and universities Gates Scholars have represented all 50 states and several U.S. territories and commonwealths Gates Millennium Scholars 10/11/2010

Demystifying the Financial Aid Process: Common Barriers  First generation  Limited access to technology  Difficulty obtaining finances  Inadequate family support  Deficient in financial resources  Navigating FAFSA process  Parents unable or unwilling to provide documentation  Absence of official documentation 10/11/2010

1.Financial literacy for student and parent(s)/guardian Promote inclusion Tailor messaging Clear/obvious expectations Ongoing dialogue Demystifying the Financial Aid Process: Best Practices 10/11/2010

2.Register with Minority-based Programs American Indian College Fund Hispanic College Fund America’s Black Collegians U.S. Pan Asian American Chamber of Commerce / / Demystifying the Financial Aid Process: Best Practices 10/11/2010

3.Accessibility of information in more than one format 4.Work in partnership to promote desired outcome – Cooperation – Responsiveness – Heightened understanding Demystifying the Financial Aid Process: Best Practices 10/11/2010

5.Develop Relationships – Financial Aid Office and Institution representatives – Applicable service providers (e.g., TRIO, GMS) 6.Maintain Strong Lines of Communication – Regular Follow-up – Frequent /or automated messaging – Instructional materials Demystifying the Financial Aid Process: Best Practices 10/11/2010

 Work in partnership with existing support network Mentors/Student Advocates Parents Other Relevant Representatives Demystifying the Financial Aid Process: Facilitating a Supportive & Successful Experience 10/11/2010

 Provide as much detail as possible Components of COA Direct vs. Indirect Costs EFC FAFSA Verification Process Demystifying the Financial Aid Process: Facilitating a Supportive & Successful Experience 10/11/2010

Discussion…… Gates Millennium Scholars 1. What are some ways that programs like GMS can better communicate the needs of its students with Financial Aid Offices? 2. How can lines of communication regarding the needs of minority students be improved? 10/11/2010

Damien Nugent Senior Relationship Manager Gates Millennium Scholars/UNCF Website: Phone: Christa Moya Director of Financial Aid/Student Services Gates Millennium Scholars/American Indian Graduate Center Scholars Website: Phone: Contact Information If you have a financial aid question regarding Gates Scholars, simply us at 10/11/2010