1. The College Process: Information for Juniors and their Parents
Presented by:
Andrea R. Tracy
LEAF
Kristy Gardner
John Carroll University

2. Timeline: Junior Year
Review your course selections with your Guidance Counselor
Continue researching schools
Attend college fairs and school visits
Take SAT and ACT in the spring
Visit College Campuses in the spring and summer before senior year
Talk to an Admissions Counselor and tour campus or attend an Open House event
Pay close attention to admission and scholarship criteria
Keep grades up!
Document all honors and activities
Begin to investigate outside scholarship opportunities
Think of people who can write letters of recommendation.

3. Timeline: Senior Year The Busiest Year of Them All!
Visit College Campuses (and return visits)
Talk to an Admissions Counselor and tour campus
Overnight visits, meetings with faculty and coaches, class visits
Eat on campus!!!
Retake the SAT/ACT if necessary
Review admission criteria for the schools/programs you are interested in pursuing to ensure you meet all requirements
Apply to colleges in the Fall of your senior year
Applications should be in before Christmas Break (preferably before Thanksgiving)!
Be aware of priority deadline dates, scholarship dates
Myth: I cannot attend a Private institution because it is too expensive.
Fact: Private institutions traditionally have more institutional aid to award.

4. Timeline: Senior Year Look and apply for scholarships all year
Peak scholarship season is October until Mid-March
Most scholarships will only allow Seniors to apply
File a Free Application for Federal Student Aid beginning January 1st
Meet all DEADLINES!!!
Wait until you receive your Financial Aid Award Letter to decided which institution you will attend.
See your LEAF Advisor

5. Things to do… Get Organized!
Create a College application organizer.
Create an address just for correspondences from institutions.
Keep copies of any applications you complete, including financial aid and scholarship. (Copy your tax forms, too)

6. Financial Aid Process

7. Scholarship Season Institutional Scholarships
Academic/Merit Based
Admissions Office
Need Based/Endowed
Financial Aid Office
Outside Scholarships (November-May of senior year)
Local Organizations
Work Place
Clubs/Boosters

8. The Free Application for Federal Student Aid (FAFSA)
Most Federal, State, and Institutional Aid requires that you complete a FAFSA.
The processed FAFSA yields an Expected Family Contribution (EFC).
Students starting Fall 2010 will fill out their FAFSA no earlier than January 1, 2010.
You can file the FAFSA for free at
BEWARE of agencies that charge to file the FAFSA!

9. Loans, Work-Study, and Federal Aid… Oh my!
A FAFSA must be completed to be eligible for Federal Aid.
Work-Study
Federal Work-Study
Campus Work-Study
Loans
Stafford Loans
Perkins Loans
PLUS Loans
Grants
Pell Grant
FSEOG Grant
TEACH Grant
ACG
National Smart Grant

10. Addition Funding Options..Alternative Loans
Are becoming a more popular way to cover unmet need of college students.
They have taken the place of the Federal Parent PLUS Loan Program.
These are “dressed up” consumer loans and are based on “credit-worthiness” of the student and a co-signer

11. Comparing PLUS vs Alternative - What is the BEST Option
Federal Parent Loans
Fixed interest rate
Accrued interest capitalizes once at final repayment
Credit check on parents based upon federal standards-(no debt to income ratios
Alternative Loans
X Variable interest rate set monthly or quarterly
X Interest rate usually will not exceed 21%
X Accrued interest may capitalize monthly, quarterly or at final repayment
X Student and co-signer must pass a comprehensive credit check

12. Comparing PLUS vs Alternative - What is the BEST Option
Federal PLUS Loans
Federally insured against death and disability for both the parent and student
Ability to easily consolidate PLUS Loans under the Federal Consolidation Loan Program
PLUS Loans will be reported only on the parent’s credit report
Alternative Loans
X Not federally insured against death and disability of both student or co-signer
X Can not consolidation under the Federal Consolidation Loan Program
X Alternative Loans will be reported on both the student’s and the co-signer’s credit report

13. Tax Credits and Deductions
Tax Credits: Subtracted from the tax a family owes.
Hope Tax Credit
Used only the first two years
Amount based on AGI
Up to $1,800 for each eligible dependent
Lifetime Learning Tax Credit
Can be used an unlimited number of years
Can claim up to $2,000

14. Tax Credits and Deductions
Tax Deductions: Reduce the taxable income.
Tuition and Fees Deduction
Cannot claim if using Hope or Lifetime Learning Credit
Deduction must be renewed by the IRS
Up to $4,000
Educational Loan Interest Deduction
Up to $2,500
Can use with Hope and Lifetime Learning Credit
Amount based on AGI

15. Tax Credits and Deductions
529 Savings Plan (
Only a state tax deduction
Anyone contributing to a plan can take it.
Up to $2,000

16. Resources College Advantage (529 Plans) EFC Calculator
EFC Calculator
Loan Payment Calculator
Financial Aid Information
Scholarship Search
(national)
(local)

17. Assistant Director of Admissions and Financial Aid
Questions???
Andrea Tracy
Program Director
Kristy Gardner
Assistant Director of Admissions and Financial Aid