1. Paying For College: Getting Started
Alabama School of Fine Arts

2. Where to Find Scholarships
Most $$ comes from the college where you attend.
Focus on finding the best college matches for you & following financial aid application process.

3. $20000
$1000
$500
$8000
Tall Clubs International Foundation scholarship - $1000
Kinglon scholarship is a $500 scholarship for full time student perusing study of language
MCD – $25k per year for 4 years.
CME Beef Industry Scholarship - $1500
Scholarship Description
Sponsored by CME Group & the National Cattlemen's Foundation, ten (10) scholarships of $1,500 will be awarded to outstanding students who are pursuing careers in the beef industry. Fields of study may include education, communications, production, research or any other area involved with the beef industry. The purpose of this program is to identify and encourage talented and thoughtful students who will emerge as industry leaders.
Asparagus Club Scholarship $8000
Eligibility:
-Full-time students
-Rising juniors, seniors, or graduate students
-Earning a degree in a business, food management, or other relevant courses of study leading to a career in the independent retail grocery industry
CocaCola Scholars
Jackie Robinson Foundation Scholarship Sponsor: Jackie Robinson Foundation Amount: Up to $28,000 over four years Closing Date: February 15, 2017 Description: Scholarship is open to graduating, minority high school seniors who plan on attending an accredited and approved four-year institution within the United States. Applicant must show leadership potential, dedication to community service, and evidence of financial need.
$25,000
$1500
Scholarships come from a huge range of sources but require that you find them and apply.

4. CollegeNet.com/mach25/app
Fastweb.com
Bigfuture.com
Scholarships.com
Chegg.com
Unigo.com
Cappex.com
MyScholy.com
$25,000
Duct tape - Stuck at the prom
Register for multiple free (never pay!) scholarship search sites and apply monthly or weekly for scholarships large and small.

5. ASFA Scholarship Opportunities
Download, highlight ones that sound like you, mark your calendar to apply next year.
Last page gives step-by-step directions for conducting your own individualized scholarship search.

6. From: “Don’t Miss Out: The Ambitious Student’s Guide To Financial Aid”
Who Pays for College?
From: “Don’t Miss Out: The Ambitious Student’s Guide To Financial Aid”

7. Undergraduate Student Aid (in Billions) by Source
Source: Trends in Student Aid, 2007

8. Two Major Types of Aid
Merit
Based on talent or other special qualities
Need-Based
Must show eligibility through pre-determined formula

9. Sources of Aid Gift “Free money” (grants or scholarships) Self-Help
Do not need to be paid back
Self-Help
You earn it (work) or
You pay it back (loans)

10. Sources of Financial Aid
Federal Aid Programs
Free Application for Federal Student Aid (FAFSA)
Institutional applications (if required)
Stafford and/or PLUS applications
State Programs
FAFSA
Specific scholarship forms
Institutional Aid
College Board Financial Aid PROFILE (if required)
Special institutional applications
Private Opportunities
Depends upon awarding entities
FAFSA and/or PROFILE

11. Principles of Need Analysis
To the extent they are able, parents have primary responsibility to pay for their dependent children’s education
Students have a responsibility to contribute to their educational costs
Families should be evaluated in their present financial condition
A family’s ability to pay for educational costs must be evaluated in an equitable and consistent manner, recognizing that special circumstances can and do affect its ability to pay

12. Free Application for Federal Student Aid (FAFSA)
Family’s personal and financial information required to perform need analysis is collected on FAFSA
Can complete the FAFSA beginning October 1st of senior year
Typical deadlines: February 1st – March 1st

13. CSS Profile css.collegeboard.org Required by some private colleges
Like the FAFSA, but more detailed
Requires initial $25 fee for first college, plus $16 for each additional
Limited number of fee waivers available
Based on family’s income/assets
Students applying to 8 or more colleges
Contact colleges to ask about others, i.e. first-generation college students

14. + Miscellaneous Expenses
How Financial Need is Determined Cost of Attendance - Expected Family Contribution = Financial Need
Tuition and Fees
Books and Supplies
Room and Board
Transportation
+ Miscellaneous Expenses
= Cost of Attendance
Expected
Family Contribution
Parent’s Contribution from Income
Parent’s Contribution from Assets
Student’s Contribution from Income
Student’s Contribution from Assets

15. Need Varies Based on Cost

16. Mind the Gap
Some colleges guarantee that they will meet 100% of student’s demonstrated financial need.
Most colleges do not cover the full financial need. The difference between what the financial aid award & the student’s financial need is the “gap.”

17. Sources of Gift Aid Institutional Private Affiliations
Majority of financial aid awarded through the college
Could be need or merit based
Many types, varieties, and amounts
Pay close attention to application procedures & deadlines
Understand conditions of award & renewal
Private
Affiliations
Churches
Civic Organizations
Unions
Ancestry
Employers
Special Interests
Corporations
Foundations
Local Scholarships
Military

18. Case Studies: Nikki @ U. Penn
Family of 4 makes $90,000 and owns $130,000 home with $11,000 savings. Nikki expected to contribute $2,300 from summer job. EFC of $15,650.
Educational Expense Budget
$53,250
Less family contribution
15,650
FINANCIAL NEED
$37,600
Financial Aid Package
Penn Grant
$34,600
Work-Study Job
3,000
TOTAL AID PACKAGE
$37,600
N’s parents must pay $15,650. They may apply for a Federal Plus Loan, and their monthly payments will be $165.

19. Case Studies: Nikki @ UA
Family of 4 makes $90,000 and owns $130,000 home with $11,000 savings. N expected to contribute $2,300 from summer job. EFC of $13,000.
Educational Expense Budget
$20,000
Less family contribution
13,000
FINANCIAL NEED
$7,000
Financial Aid Package
UA Merit Scholarship
$10,470
Federal Stafford Loan
2,650
Campus Job
2,500
TOTAL AID PACKAGE
$15,620
Nikki or her family must pay $4,380, or take out additional private loans.

20. Case Studies: Darius @ U Penn
Father deceased. Family of 4 makes $39,500 with minimal savings. EFC of $0. Penn expects Darius to save $300 from summer job.
Educational Expense Budget
$53,250
Less family contribution
200
FINANCIAL NEED
$53,050
Financial Aid Package
Penn Grant
$50,750
Work-Study Campus Job
2,500
TOTAL AID PACKAGE
$53,250
Darius and family owe nothing beyond $200 and have no loans.

21. Case Studies: Darius @ UAB
Father deceased. Family of 4 makes $39,500 with minimal savings. EFC of $4,000.
Educational Expense Budget
$17,000
Less family contribution
4,000
FINANCIAL NEED
$13,000
Financial Aid Package
UAB Merit Scholarship
$4,000
Pell Grant
3,360
Federal Stafford Loan
3,500
Federal Work Study
2,650
TOTAL AID PACKAGE
$13,510 *
* Darius or family must pay $3,490 or take out additional private loans.

22. Scams If it sounds too good to be true… Signs something is fishy:
You’re a winner! (of something you never applied for)
For a small fee, we’ll send you a list of scholarships.
We’ll do the work for you
Guaranteed results or very high success rates
We need a bank account or credit card number to verify your information.
High pressure of any sort

23. Information Sources FinAid.org Comprehensive financial aid information
Free scholarship search
Various calculators, including need analysis
Don’t Miss Out: The Ambitious Student’s Guide to Financial Aid. Octameron Press
The Scholarship Book: The Complete Guide to Private-Sector Scholarships, Grants and Loans for Undergraduates. Daniel Cassidy, National Scholarship Research Service
Payscale.com/college-education-value College ranking based on graduates’ long-term earnings