Types of Aid ScholarshipsGrantsLoansWork Study

Scholarships Institutional Scholarships State Scholarships External Scholarships

Institutional Scholarships Part of the Admission Process No separate application Must have a completed file with the Admissions Office Notifications start in December Range from $8,000-full tuition Renewable

State Scholarships Available to MD residents Could be transferred from other states Know your legislators  Could be renewable

External Scholarships Search NOW! Free process Check our website Guidance Office Parents’ employers Businesses Organizations and Clubs

Grants Federal Grants - Pell Grant -Federal Supplemental Educational Opportunity Grant -TEACH grant -Iraq and Afghanistan Grant State Grants Howard P. Rawlings Educational Assistance Grant Howard P. Rawlings Guaranteed Access Grant Institutional Grants Notre Dame Grant Residence Grant

Scholarships are part of the plan for paying for college, but not the entire plan Of students enrolled full-time at a 4-year college:  0.3% get enough grants to cover the full cost of attendance (COA)  1.0% get enough grants to cover 90 % or more of the COA  3.4% get enough grants to cover 75 % or more of the COA  14.3 % get enough grants to cover 50 % or more of the COA Source-”Top Ten Myths About Scholarships” presentation, 9/2011

Loans Funds from school Revolving Fund Fixed Interest No Credit Check Repayment begins 9 months after leaving school Funds from the USDE Fixed interest Credit-based loan Repayment could be deferred Funds from the USDE Subsidized/Unsubsidized Fixed Interest No Credit Check Repayment begins 6 months after leaving school Funds from the private lenders Adjustable interest Credit-based loan May need to have a co- signer Private Alternative Loans (COA- other aid) Stafford Loan ($5500/year- $12500/year) Perkins Loan (varies) PLUS Loan (COA-other aid)

Work Study On-Campus or Off-Campus Part-Time Gain work experience Flexible hours Need-based FAFSA benefit

FAFSA Free Application for Federal Student Aid Available January 1, 2012 Our deadline-2/15/12 Our code IRS Match

Financial Aid Process Apply (January-February) Receive Award Letter (March-April) Complete activation steps (May-June) Receive funds twice a year (fall and spring) (September and February) Apply again…

What to do now? Apply for a FAFSA PIN  PIN for a student  PIN for a parent FAFSA4caster (early estimate of federal aid) Apply for admission

Online tools Net Price Calculator College’s websites College Navigator Maryland Higher Education Commission

Special conditions Change of Income Separation, Divorce, Death High Medical Expenses Paid During 2011 year One-Time Income Parent Attending College

Questions? Contact Info: Zhanna Goltser (410)