1. MONEY FOR COLLEGE
A MARYLAND GUIDE ON HOW TO IDENTIFY AND OBTAIN STUDENT FINANCIAL ASSISTANCE

2. STUDENT (/COUNSELOR) CHALLENGES
Sticker Price
Financial Situation/Parent – Student Communication
Difference between merit and need-based aid
Knowing what FAFSA is
Completing the FAFSA
Awareness of/Habit of missing deadlines
How to appeal an offer/decision
Making decision without considerations to other opportunities
Making college/financial aid search a priority
Completing/Following up on document submission
Reliance on Counselors like parents/The “want to be right/helpful”
Checking s

3. COMMON FAFSA MISTAKES Leaving a field blank
Answered an unasked question
Left themselves out of the household size
“I don’t get an allowance , I’m independent”
“I don’t plan on going to a school in Maryland”
Student’s name entered on the FAFSA is not the same as on the Social Security card
Submitting a FAFSA through FAFSA.com
Not getting a FSA ID ahead of time
Not using the IRS Data Retrieval Time
“Just throwing information up there”

4. COST OF ATTENDANCE Tuition and fees (registered classes/credits)
Room and board (room and meal plan changes)
Books and supplies (cost of books at the institution’s book store)
Transportation (avg. local cost of gas, public transportation)
Personal expenses (toiletries, misc. cost)
Child Care (if applicable) (avg. cost of Child Care)
The State of Maryland includes only tuition/and room/board in its COA calculation, but the U.S. Department of Education uses all components above.

5. EXPECTED FAMILY CONTRIBUTION EFC
Isn’t
Monies that families have to pay
Cost per credit
Refund Is
Identifier
Index number used to help schools and government (both State of federal) find what type of and amount of money to award students

6. SOURCES OF FINANCIAL AID
Where can you go to find an organization to help pay for college
Federal Government
FAFSA
State Government
FAFSA/Other Applications
College/University
Nonprofit or private organization
Other

7. EARLY FAFSA October 1st is the new FAFSA
March 1st remains that State’s financial aid deadline

8. FEDERAL STUDENT LOANS Direct Undergraduate Subsidized Loans
Interest Rate: 3.76%/ Loan Fee: 1.068%
Does Not accrue interest/Need based
Direct Undergraduate Unsubsidized Loans
Accrues interest/Non-need based
Direct PLUS Loans
Interest Rate: 6.31%/ Loan Fee: 4.272%
Only Parents/Graduates may apply
Consolidation Loans

9. OTHER FEDERAL STUDENT AID UPDATES
Same-sex marriages are recognized on the FAFSA
Undocumented Students/Parents, Enter
FAFSA is not officially complete until the IDRT is completed. Schools can still process information, student account will not be funded
Pell Grant ( ) is $5,815

10. COST OF ATTENDANCE Tuition and fees (registered classes/credits)
Room and board (room and meal plan changes)
Books and supplies (cost of books at the institution’s book store)
Transportation (avg. local cost of gas, public transportation)
Personal expenses (toiletries, misc. cost)
Child Care (if applicable) (avg. cost of Child Care)
The State of Maryland includes only tuition/and room/board in its COA calculation, but the U.S. Department of Education uses all components above.

11. APPLYING FOR STATE FINANCIAL AID - MARYLAND COLLEGE PROCESSING CENTER (MD CAPS)
MDCAPS is the State of Maryland financial aid system
You must create a Student Login Profile and then click on the activation link in the message sent to your account, which was provided when you created your account in MD CAPS
To create a profile, log onto
The MDCAPS account can be created at any time

12. MARYLAND COLLEGE PROCESSING CENTER (MD CAPS)

13. HOWARD P. RAWLINGS PROGRAM OF EDUCATIONAL EXCELLENCE AWARDS
Educational Assistance Grant
Guaranteed Access Grant

14. EDUCATIONAL ASSISTANCE GRANT: UP TO $3,000 ANNUALLY
New and renewal students must file the FAFSA by March 1 each Year and list at least one Maryland institution on the FAFSA application
Students must demonstrate financial need
Students with the greatest need and lowest EFC are awarded first
Students must enroll as full-time, degree-seeking undergraduates
Parents and students must be Maryland residents
Students can not receive this award and the Guaranteed Access Grant
Students have two weeks to accept the grant if awarded

15. GUARANTEED ACCESS GRANT: UP TO $17,900 ANNUALLY
New and renewal students must file the FAFSA by March 1 each Year and list at least one Maryland institution on the FAFSA application
Students must enroll as full-time, degree-seeking undergraduates at a 2-year or 4-year college or university in Maryland
Parents and students must be Maryland residents
Students have two weeks to accept the grant if awarded
Students can not receive the Guaranteed Access Grant and the Educational Assistance Grant.
Income Requirements

16. LEGISLATIVE SCHOLARSHIPS SENATORIAL AND DELEGATE
Senatorial Scholarships
Delegate Scholarships

17. LEGISLATIVE SCHOLARSHIPS SENATORIAL AND DELEGATE
All students may apply:
High school seniors
Undergraduates
Graduate students
Traditional & non-traditional aged students
Career or technical school students
May be used for:
Full-time or part-time enrollment
Maryland residents only
Maryland institutions (may be used out of state in rare circumstances)
Find your local representative at

18. SENATORIAL SCHOLARSHIP: $400 AND UP ANNUALLY
File FAFSA by March 1
Demonstrate financial need
Awards are renewable for an additional 4 years
Contact Senator for application procedures
Student must accept the award within two weeks of notification
You must have taken the SAT/ACT if required by the institution
Note: Senators have the option to award; some do not select recipients but put their funds into other programs administered by OSFA

19. DELEGATE SCHOLARSHIP: $200 AND UP ANNUALLY
Contact Delegates for application procedures
Must apply each year for an award; awards are not renewable
FAFSA may not be required if awarded by the delegate. A FAFSA will be required if the awards are made by OSFA Note: Delegates have the option to award; some do not select recipients but put their funds into other programs administered by OSFA
Note: Delegates have the option to award; some do not select recipients but put their funds into other programs administered by OSFA

20. 2 + 2 Transfer Scholarship Unaccompanied Homeless Youth Exemption
NEW PROGRAMS!!!
2 + 2 Transfer Scholarship
Unaccompanied Homeless Youth Exemption

21. 2 + 2 TRANSFER SCHOLARSHIP UP TO $1,000
Resident of Maryland
Be enrolled at a Maryland community college
Maintain a cumulative 2.5 grade point average on a 4.0 scale while student is enrolled at a Maryland community college
Have earned an associate’s degree from a Maryland community college by the end of the semester in which the applicant plans to transfer
Be accepted for admission in a degree program at a public or private nonprofit institution of higher education in Maryland

22. 2 + 2 TRANSFER SCHOLARSHIP
Intend to enroll in a 4-year public or private nonprofit institution of higher education in Maryland in order to complete a bachelor’s degree program
Enroll as a full-time student at a 4-year Maryland institution by the fall semester following completion of the associate’s degree
Students required to register with the selective service system, must be in compliance with the registration requirement.
File a Free Application for Federal Student Aid (FAFSA)

23. UNACCOMPANIED HOMELESS YOUTH EXEMPTION
Child or youth who is not in the physical custody of a parent or guardian and is a homeless child or youth, as defined by the McKinney-Vento Homeless Assistance Act.
When determining whether a youth is an unaccompanied homeless youth, a financial aid administrator must verify that the youth qualifies as an independent student under the Federal College Cost Reduction and Access Act.
Must contact your county’s homeless liaison.
File a Free Application for Federal Student Aid (FAFSA)

24. UNACCOMPANIED HOMELESS YOUTH EXEMPTION
Other eligibility Requirements:
Students classified as unaccompanied homeless youth must also:
Be enrolled as a candidate for a vocational certificate, associate’s degree or bachelor’s degree at a public institution of higher education on or before their 25th birthday.

25. UNIQUE-POPULATION AID
Jack F. Tolbert Memorial Student Grant Program
Edward T. Conroy Memorial Scholarship & Jean B. Cryor Memorial Scholarship Program
Veterans of the Afghanistan and Iraq Conflicts Scholarship
Tuition Waiver for Foster Care Recipients *UPDATES*

26. 529-COLLEGE SAVINGS PLAN – PREPAID COLLEGE TRUST
Lock in the tuition at today’s price nationwide
Invest for children from newborn through 12th grade, although accounts must be open for at least three years before Tuition benefits will be paid.
It’s backed by a Maryland Legislative Guarantee.
You’ll be eligible for federal and Maryland State tax benefits.
Earnings on a distribution not used for qualified expenses may be subject to income taxes and a 10% federal penalty.
Can change options
Earnings are tax-free when using for qualified education expenses

27. 529-COLLEGE SAVINGS PLAN – PREPAID COLLEGE TRUST
Where plans can be used
At a Maryland public college
At a private or out of state college*
Terms to know
Weighted Average Tuition *
2016 – 2017
4 year-public colleges - $9,874
2 year- public colleges - $4,549
Minimum Benefits
0 rate since 2008

28. 529-COLLEGE SAVINGS PLAN – PREPAID COLLEGE TRUST
Types of tuition plans:
University Plan: purchase anywhere from one semester to four years at a four-year college.
Community College Plan: purchase one or two years at a community college.
Two Plus Two Plan: purchase two years at a community college and two years at a four-year college
Can be used for graduate school.

29. 529-COLLEGE SAVINGS PLAN – PREPAID COLLEGE TRUST
Types of tuition plans:
Lump Sum: Make a one-time payment.
Annual Payment: Equal yearly payments.
5-Year Monthly Payment: 60 equal monthly payments.
Extended Monthly Payment: Equal monthly payments for a specified number of months.
Down Payment: 25%, 40%, or 55% of the lump sum price with the remaining amount to be paid monthly or annually.

30. 529-COLLEGE SAVINGS PLAN – COLLEGE INVESTMENT PLAN
Flexible contribution amounts starting with as little as $25 a month
Open to children or adults of any age
Choose from a variety of investment options
No sales loads, commissions or enrollment fee
You can use your savings to pay for any eligible college expenses
Any earnings are federal tax-free when used for qualified education expenses
Your contributions may be eligible for a Maryland State income tax deduction

31. 529-COLLEGE SAVINGS PLAN – COLLEGE INVESTMENT PLAN
Investment Options
Enrollment-Based Portfolios
Automatically adjust their investment mix based on when your child plans to attend college
Fixed Portfolios
Six portfolios that invest in a mix of stocks, bonds, or money market mutual funds.
Do not change their investment mix based on your child’s age.

32. RESOURCES & INFORMATIONAL SERVICES

33. RESOURCES & INFORMATIONAL SERVICES
College Goal Maryland
Fastweb
Federal Student Aid

34. NEW MHEC WEBSITE!!!

35. NEW MDgo4it!

36. PUBLICATIONS

37. MARYLAND LIST OF NET PRICE CALCULATORS

38. FOR UP-TO-DATE INFORMATION

39. MHEC ON SOCIAL MEDIA
@MDHigherEdComm
MDHigherEdCom
MDHigherEdCom

40. FINAL RECCOMMENDATIONS
Apply early for Maryland State Aid – Complete and submit the FAFSA each year prior to the March 1 deadline.
Know the State deadline!
Complete all required forms to apply for financial assistance and follow up about your awards.
Apply for as many grants and scholarships as possible.
Remember, parents and students must be Maryland residents for the State of Maryland financial aid awards.
Seek advice from financial aid professionals.

41. Office of Student Financial Assistance
CONTACT US
Maryland Higher Education Commission Office of Outreach and Grants Management
and
Office of Student Financial Assistance
Telephone number:
Toll free number: