1. Planning Ahead Can Save You Time & Money
Funding Your
Education Wisely
Planning Ahead Can Save You Time & Money

2. College Dreams
At some point hopefully you’ve dreamed of college, think back to those days and why you thought of that school – Indiana has lots of choices – maybe your dream school is listed above 2

3. Questions Will Arise
For many questions still arise, how to get started? How do I fund wisely? What steps do I need to take? ISM College Planning is here to help and here is how: 3

4. We’ll Help You Understand…
Value and Cost of Postsecondary Education
Choosing the Right Career & College for You
Financial Aid Types & Sources
The FAFSA
How College Cost is Presented
Social Media
Next Steps 4

5. Value and Cost of Postsecondary Education
TITLE SLIDE BLUE
Value and Cost of Postsecondary Education

6. The Value of Higher Education
Highlight the “more you learn – the more you can earn” concept of higher degree completed = higher potential earnings
Also the higher the degree the lower the chance of being unemployed or to stay unemployed
Source: Current Population Survey, U.S. Department of Labor, U.S. Bureau of Labor Statistics 6
Source: Bureau of Labor Statistics, Current Population Survey

7. Cost of Higher Education
70% of college graduates have college-related debt
Average college related debt $35,200
50% are surprised by how much they owe
Student Loan Debt has grown to $1.2 trillion as of June 2015
Fidelity, Cost-Conscious College Graduates - (
Federal Reserve Bank of New York – ( 7

8. Choosing the Right Career and College for You

9. Choosing Your Career
Investigate career options using free online tools
Find out if a career is right for you
Job Shadowing
Volunteering
Internships
Website options for students to enter information about their likes/dislikes etc. and helps determine possible careers or majors to consider
Key on accessing tools on our website 9

10. Choosing Your School College Navigator Factors to Consider Size
Cost
Location
State, Region
Suburban, Urban, Rural
Size
Degree and Major Options
Religious Affiliation
Helps to review possible college options and lots of other data on the schools regarding average costs, aid, enrollment, graduation, etc.
Again reiterate link and more information on our website 10

11. Choosing Your School Wealth of Information Admissions Profile
Average Cost by Income Ranges
Graduates per Program
Campus Safety Statistics
Helps to review possible college options and lots of other data on the schools regarding average costs, aid, enrollment, graduation, etc. 11

12. The Right Choice
The key is finding a school that offers the right major AND is a good fit!
Changing majors or schools may add extra years to college, which means extra expenses
Doing the upfront work with a better idea of majors and cost will help reduce the “extra” time in college thus reduce debt or out of pocket costs as well as time from actually entering the workforce and earning income.
Mention the 15 to Finish campaign – 30/60/90 = more likely to graduate on time + less debt 12

13. Financial Aid
Sources and Types

14. Sources of Funds Federal Government State Government
College/University
Private Donors
Briefly highlight sources – as we break down the individual aid elements in future slides 14

15. Types of Financial Aid Gift Aid Self-Help Scholarships Grants
Employment (Work Study)
Savings
Loans
Highlight 2 main aid options:
Gift aid (briefly mentioning difference between grants and scholarships as well as merit vs. need based awards)
Self-help (briefly mentioning main elements as we discuss in further detail on other slides) 15

16. Scholarships Colleges & Universities Local & Community
Need Based versus Merit Based
Local & Community
Private Businesses, Community Foundation, Civic Organizations, Church Groups, School Counselor, Place of Employment
FREE National Search Sites
All are other sources of funds – need to ask around and find all sources of funding available
Outside awards are required to be reported regardless of whether they are sent to the student or directly to the school. Institutions are required to consider them in the student’s overall financial aid package. Schools typically use them to replace family contribution (EFC) first and to reduce any loans 16

17. Spend 2-4 hours per week searching for scholarships
Scholarship Tips
Create Scholarship Resume
Get Organized
Scholarship folder
Sample essays
Identify deadlines
Balance Time
Beware of Scams
Planning is key and can be a family venture – work as junior can provide insight into what scholarship providers are looking for and give student time to add to their “scholarship resume”.
Spend 2-4 hours per week searching for scholarships 17

18. Scholarships – Get Creative!
There’s something for everyone!
Have fun searching your favorite things.
Scholarships not just for academics or performance type activities, but could be various fun activities. Picture of guy & girl are winner of the “Duck Tape Yourself for Prom” competition. Tux and dress are made of duck tape and they won a scholarship. 18

19. Grants Federal State College or University
Federal Pell Grant (Max: $5,775)
Federal Supplemental Educational Opportunity Grant (FSEOG) ($1k – $4k)
TEACH Grant ($4,000)
State
21st Century Scholars
Frank O’Bannon Grant
College or University
Discuss federal grant programs
Audience is of course 21st Century students, but can mention Frank O’Bannon programs as well (HEA and FOC)
Reiterate that some institutions have grants they provide some of which may be need-based so student won’t know whether they qualify until after the financial aid award is created. 19

20. Work-Study & Savings Benefits of Work-Study Saving for College
Money can be used for education related
expenses to help keep debt down
Money earned won’t count against you
on your FAFSA the next year
Gain experience and references
Saving for College
Investigate Savings Plan Options
Set a savings goal
Continue saving through college
Work-study is another way to help fund education and cover books/supplies, etc.
Also way of gaining experience and potential references. Mention how attitude and work ethic could impact future opportunities regardless of type of work study job obtained.
Any time of saving even during college is important.
Mention briefly the 529 plans and potential match of savings with grandparents or parents. i.e. Save so much per month out of student job, would they match? 20

21. Education Loans Federal Direct Loan (4.29%, 1.068% fee)
Subsidized
Unsubsidized
Federal Parent Loan for Undergraduate Students (PLUS) (6.84%, 4.272% fee)
Private Education Loans (Varies)
Remember
Loans MUST Be Repaid!
Briefly highlight loan options – not too much detail but simply the options for students/parents in federal program first and private only if needed. Key is that these are loans that have to be repaid.
(Interest Rate for loans disbursed on or after 7/1/15, Loan Fees for loans disbursed between 10/1/15 – 9/30/16) 21

22. TITLE SLIDE BLUE
The FAFSA

23. FAFSA.gov

24. The Importance of the FAFSA
Free Application for Federal Student Aid (FAFSA)
Currently the the Most Important form when applying for Financial Aid
Basis for determining eligibility for:
Federal Funds (Grants, Scholarships, Loans and Work Study)
State of Indiana (Grants and Scholarships)
Potential Institutional Funds (Need-Based)
Determines EFC
Key word is FREE – don’t pay to have this form completed 24

25. What is EFC? EFC = Expected Family Contribution. Two components:
Parent contribution
Student contribution
Calculated using data from the FAFSA and a federal formula.
Amount family can reasonably be expected to contribute to the student’s education.
Stays the same regardless of college.
Briefly discuss what the EFC is 25

26. Application Process Available starting October 1, 2016
File using 2015 tax information
Submit FAFSA prior to the college or state deadline, whichever comes first.
State of Indiana: Received on or before March 10th
Institutional: Check with each school
Some institutions require students to complete additional application requirements
2017 Graduates can begin to file their FAFSA starting Oct 1, 2016 using 2015 tax information and may be able to utilize the IRS Data Retrieval Tool
Reinforce deadline for state being RECEIVED on or before March 10th - Some institutions may have deadlines prior to March 10th, so you need to meet the earlier deadline
Institutions may have deadlines for priority consideration of financial aid based on acceptance date or need of additional information (institutional financial aid form or CSS Profile as examples)

27. How College Cost
is Presented

28. Net Price Calculators
Provide estimates of Financial Aid Packages to help families make informed decisions
Cost of Attendance
– Gift Aid (Grants & Scholarships)
= Net Price
Colleges are required to include a net price calculator on their website
Describe the NPC concept and what it provides to families as a potential estimate of aid available at various schools. 28

29. Sample net price calculator data from an Indiana public institution29

30. Expected Salary & Debt Impact
Investigate your expected salary
Hoosier Hot 50 Jobs
Understand the impact of borrowing
Student Loan Game Plan
Can review potential salary for particular degrees and student loan game plan helps to bring all the pieces together to see the potential impact of college debt on future monthly budget. 30

31. Social Media

32. Professional Online Presence
Appropriate address, such as
Review social media accounts removing inappropriate material and anything that may be misinterpreted.
Be engaging and personal 32 20

33. Evaluation of Scholarship Applicants
When reviewing a scholarship applicant’s online presence, the scholarship providers look for the following information:
To determine whether the applicant demonstrates good judgment (58%)
Provocative or inappropriate photographs or remarks (58%)
Illegal activities, such as underage drinking and use of narcotics (50%)
To get to know the applicant better (42%)
Survey of 300 National Scholarship Providers Association (NSPA) members who provide more than $1 Billion in scholarships 33

34. Evaluation of Scholarship Applicants
Scholarship providers review online content
25% of scholarship providers selected an applicant
33% denied an applicant a scholarship 34

35. TITLE SLIDE BLUE
Next Steps

36. ISMCollegePlanning.org 36

37. We’ll Help…
Provide us with your Name and and we’ll provide you with advice on…
Investigating the right career path
Choosing the right college
Searching for scholarships
Completing financial aid forms, and more!
Get started now at:
ISMCollegePlanning.org
Remind we will help and how they can contact us 37

38. What do I do now? Stay in touch with school counselor
Begin scholarship searches
Go on campus visits
Attend college fairs
Briefly highlight things they can be doing – some we have discussed already but others like Campus Visits and College Fairs are good resources to find out more about the various college options 38

39. ISM on Social Media Facebook Twitter Others
Twitter
@ISM_CollegePlan
Others
Instagram –
Pinterest - 39

40. TITLE SLIDE BLUE