Your Journey to College Begins with Us Welcome to College Funding Welcome to College Funding Presented by EducationQuest Foundation Presented by EducationQuest Foundation

 EducationQuest Foundation will guide you on your journey to college Let your journey begin …  We provide:  Free  Free college planning services  Need-based scholarships  Grants that help high schools increase the number of students who go to college  Outreach services for community agencies statewide

At our locations, we offer FREE services  Computer-based services and resource materials to help you: explore careers find scholarships select a college  One-on-one help with college planning*  Completion of the FAFSA* *Appointment required

Follow us!  Keep up with college planning tips and advice! – Facebook.com/EducationQuest – 1

 The Cost of Education  The types of financial aid available  How to apply for financial aid We will cover…

Cost of Education The Cost of Education !

Direct Costs Tuition & Fees Room & Board* Books & Supplies Indirect Costs Personal Transportation *Depends on student housing plan 16

Have a financial discussion as a family House Payment Household Bills Cars Other Debt Savings College Giving Other

Financial Aid Types of Financial Aid

Loans*Loans* Types of financial aid ScholarshipsScholarshipsWork-Study*Work-Study* Grants*Grants* *Based on FAFSA Results (Free Application for Federal Student Aid) $ $ $ $ 7

Scholarships Common criteria GPA Financial Need Ethnicity ACT/SAT score Field of study First- generation student Talents Community Service Employer College choice Leadership Activities Military service Disability State of residence Gender $

 Begin research early  Colleges  School counselor  ScholarshipQuest at EducationQuest.org  Private organizations  The Internet $ Scholarships Search tips 8

“ Y o u ’ v e b e e n s e l e c t e d. ” “ Y o u ’ r e a f i n a l i s t. ” “The scholarship is guaranteed or your money back.” “May I have your credit card number?” “ T h e s c h o l a r s h i p w i l l c o s t s o m e m o n e y. ” ! Scholarships WARNING! 8

$ Scholarships Common mistakes

Eligibility Financial need 2.5 GPA on a 4.0 scale Attend a Nebraska public college (two- or four-year) Amount Up to $4,350 per semester Dates to remember Online application opens: November 1, 2015 Deadline: February 1, 2016 Student Aid Report due: March 15, 2016 Susan Thompson Buffett Scholarship ! !

!  Students who attend an EducationQuest Financial Aid Program can register for a $500 scholarship!  Will conduct a drawing to select three student winners in February  See your packet for an information card Financial Aid Program Scholarship !

 Money you don’t repay  Based on financial need Federal Pell Grant (range $626-$5,775) State College-based Grants $ 7

Tuition Assistance Programs  Collegebound Nebraska – UNO, UNL, UNK, or UNMC – NE resident, full-time student, Pell eligible – Must complete FAFSA by April 1 If you meet the criteria, tuition is COVERED! $ ! 7  Advantage – Wayne, Peru, Chadron – NE resident, full-time student, Pell eligible – Must complete FAFSA by June 1

Tuition Assistance Programs  Access NWU – NE resident, full-time student – ACT of 25 or higher, GPA of 3.0 or higher – Live on campus – EFC of $1,000 or less – Complete FAFSA by March 1 If you meet the criteria, tuition is COVERED! $ ! 7

 Must show financial need  Part-time job, typically on campus  Flexible schedule  Money not available up-front Work-Study $ 7

Name Interest accruing while in school? Type Need-based No Direct Subsidized loan Non-need- based Yes Direct Unsubsidized loan Parent PLUS loan Federal student loans $ 11

Annual loan limits Freshman: $5,500 Freshman: $5,500 Sophomore: $6,500 Sophomore: $6,500 Junior: $7,500 Junior: $7,500 Senior: $7,500 Senior: $7, student loan interest rate fixed at 4.29%. $ 11

Financial Aid Applying for Financial Aid

Applying for financial aid ScholarshipsScholarships Grants, Work-Study, Loans DeadlinesDeadlines Priority dates

Applying for a Federal Student Aid (FSA) ID  Use to sign the FAFSA  Replaced the PIN in May 2015  The student and a parent will each need one – s and usernames must be unique  Create at fsaid.ed.gov

FSAID.ED.GOV

About the FAFSA  Free Application for Federal Student Aid  Apply at fafsa.gov  Complete after January 1 of senior year before college’s priority filing date  Use parent and student tax information  Renew yearly 9

FAFSA.GOV

Student Aid Report (SAR)

NEW for  FAFSA changes coming…”Early FAFSA”  FAFSA filing start date moves to Oct. 1, 2016  Use 2015 tax returns !  EducationQuest will provide updates on Facebook and Twitter – so follow us!

FSAID.ED.GOV

Items needed to complete the FAFSA Review the FAFSA Checklist at EducationQuest.org for a complete list of necessary items. !

Born before Jan. 1, 1993? Are you considered a dependent student? Married? Working on a master’s or professional program? On active duty or a veteran of the US Armed Forces? Have children or dependents you are providing more than half the support for? An orphan, ward of the court, or in foster care at any time since age 13? Have a legal guardian or emancipated by the court? An unaccompanied youth who is homeless or in danger of becoming homeless? If you cannot answer YES to at least ONE question, you will be considered dependent ?

For future reference…  IRS Data Retrieval  Electronically transfer tax information into the FAFSA  Verification  Turn in requested documentation to the school  Student Loans  To borrow student and/or parent loans, go to 10 !

Financial aid process FAFSA & FSA ID Processor Student College SAR Award Letter This is how the financial aid process works: Verification? 9

Yes Biological – student lives with you Adoptive (before age 13) Step – married to biological parent with whom student lives No Biological – student does NOT live with you Foster parentLegal guardian Parents : Should you include your information on the FAFSA? ?

 EFC = Expected Family Contribution Lower EFC Greater Financial Need FAFSA results  College uses EFC to determine the type and amount of aid to award the student =

Financial aid formula Cost of Education Tuition & Fees Room & Board Books Personal Transportation Tuition & Fees Room & Board Books Personal Transportation Parent Income/Assets Student Income/Assets Parent’s Age # in Household # in College Parent Income/Assets Student Income/Assets Parent’s Age # in Household # in College The amount of money the college will try to give you in financial aid EFC Financial Need 9

Income impact on EFC – family size 4 Income increases, assets remain level Family AFamily BFamily C Income $50,000$100,000$150,000 Assets (excluding retirement-specific accounts) $50,000 EFC $3,120$18,611$33,498

Asset impact on EFC – family size 4 Assets increase, income remains level Family AFamily BFamily C Income $50,000 Assets (excluding retirement-specific accounts) $0$75,000$100,000 EFC $2,251$3,798$4,551

What assets must you include? Checking SavingsStocks BondsCDs Mutual Funds Rental Property 2 nd Residence College Savings Plans ?

NOT *Qualified Retirement Accounts *Primary Residence What assets must you include? ?

Exclude value IF… you own and control the majority interest in your business and you employ fewer than 100 people What if you have a business ? ?

You live on the farm and operate it and this is your main source of income. Exclude value if: Receive rent from farm ground or pasture from someone else Member of family farm partnership or corporation and you do not participate in running the farm Include value if: What if you have a farm ? ?

About your award letter

Applying for student loans

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‒Budgeting ‒Paying for college ‒Credit cards Inceptia, a nonprofit organization, has teamed up with EducationQuest to teach students personal finance basics. ‒Identity theft ‒Banking basics ‒First job Topics Include: ‒Contracts ‒Credit history ‒Taxes and you  Six courses – minutes  Ten mini-modules – 15 minutes Universal Access Code: v3erkb Financial Avenue

Kearney Lincoln OmahaEducationQuest.org Call for an appointment Follow us on Facebook and Twitter Your Journey to College Begins with Us

Kearney Lincoln OmahaEducationQuest.org Call for an appointment Follow us on Facebook and Twitter Your Journey to College Begins with Us

Kearney Lincoln OmahaEducationQuest.org Call for an appointment Follow us on Facebook and Twitter Your Journey to College Begins with Us