A Day in the Life of College Admissions for Virginia Tech Alumni and Their High School Students SCHOLARSHIPS AND FINANCIAL AID Presented by: VIRGINIA TECH Dr. Barry W. Simmons Sr July 11, 2008

WHAT IS FINANCIAL AID? FUNDS THAT ARE AWARDED THROUGH INDIVIDUAL COLLEGES TO HELP STUDENTS AND THEIR FAMILIES PAY FOR COLLEGE

WHAT DOES IT COST? TRAVEL OTHER ROOM/BOARD TUITION/FEES BOOKS PERSONAL

HOW TO APPLY Free Application for Federal Student Aid (FAFSA) CSS Profile, if required Institutional form, if required Know the deadlines VT = 3/11

FILE THE FAFSA ON-LINE

STUDENT/PARENT INVOLVEMENT FOLLOW-UP

INFORMATION REQUIRED PERSL INFO PLANS INCOME ASSETS COLLEGES SIGNATURE PERSL INFO INCOME ASSETS SIGNATURE

Are your parents divorced or separated? WHO IS MY PARENT? Who did you live with the most in the last 12 months? If you lived with each an equal amount of time; who provided the most financial support? Re-married parents must supply their spouse’s income even if they file separate tax returns ?

THREE COMMON MISTAKES  Missing published deadlines  Inaccurate or incomplete data on FAFSA  Not submitting all required application material

FINANCIAL LITERACY Online Learning Tool – Account Mgmt/Checking – Budgets/Spending Plan – Loan Mgmt/Student Loans – Credit Cards – Identity Theft – Consumer Rights – Debt Mgmt – Other Benefits/Resources /

TYPES OF AID GIFT AID –GRANTS –SCHOLARSHIPS SELF-HELP AID –WORK STUDY –LOANS

GRANTS : Aid that is a GIFT…does not have to be paid back…“free” money

SCHOLARSHIPS ATHLETIC RELIGIOUS AFFILIATION CIVIC GROUPS BUSINESSES FIELD OF STUDY

WEBSITE SCHOLARSHIP SEARCH FINANCIAL AID WEB PAGES EFC CALCULATOR

Scholarship Searches Free scholarship searches generally include over 400, ,000 scholarships with a combined worth of over $1 Billion College Board A FREE scholarship search provided by the College Board. FastWeb FastWeb also offers expert advice and how-tos on admission, financial aid, selecting a major, choosing a career and more.

FEDERAL WORK STUDY Allows the student to “earn” money for school

LOANS: Borrowed money that must be paid back; Student is responsible Low-interest

YOUR BEST FRIEND KNOW YOUR COUNSELOR VISIT THE GUIDANCE OFFICE ASK ABOUT LOCAL SCHOLARSHIPS

FINANCIAL AID OFFICE CAN ANSWER BASIC QUESTIONS PICK-UP NON-SCHOOL SPECIFIC FORMS USE THEIR SCHOLARSHIP LIBRARY

Prepare for College – Planner, Courses Taken, Courses Needed Apply Online – Admissions application Select a School – Compare schools, Student Life, Costs Plan a Career – Self-Assessment, List of Careers Financial Aid – Programs, Deadlines, etc. Ask an Expert – FAQs THE INTERNET

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 Start early - Look for scholarships Know the deadlines Know the forms required  Start your college file NOW  If you don’t know Ask SUMMARY

THE TASSEL IS….. …WORTH THE HASSLE!

VIRGINIA TECH OFFICE OF UNIVERSITY SCHOLARSHIPS AND FINANCIAL AID 200 STUDENT SERVICES BLDG BLACKSBURG, VA PHONE: (540) FAX: (540) WWWURL: