1. WELCOME TO LIBERTY HIGH SCHOOL’S FUNDING A COLLEGE EDUCATION INFORMATION SESSION
ROBIN L. STIMAC
STUDENT FINANCIAL AID MANAGER
METROPOLITAN COMMUNITY COLLEGE
MAPLE WOODS

2. Funding A College Education
An investment in post-secondary education is the best bet an individual can make to secure a place in the workforce and actualize one’s earnings potential
Some form of financial aid is available to assist all students pay for post-secondary education
However, the bottom line is that students and parents (if applicable) are still responsible for some of the costs

3. What is the definition of Financial Aid?
Financial Aid is all money that is provided to
students and families
from all resources to help pay for
post-secondary educational expenses

4. Sources of Financial Aid
Federal Government
(U.S. Department of Education, Veteran’s Benefits, Tax Benefits
for Higher Education, etc.)
State of Missouri
(Missouri Department of Higher Education)
Institutional Awards
(From colleges, universities and other post-secondary
institutions)
Outside Scholarships & Private Funds
(Everything else including non-profit or private organizations)

5. Employment Opportunities
Types of Financial Aid
Financial Aid
Scholarships
Grants
A+ Benefits
Employment Opportunities
Federal
Work-Study
Student & Parent Loans

6. Ways to Fund A College Education
Start By Planning Early:
It is never too early to begin thinking about saving for college. Although you do not need to decide exactly what school you (or your child) will attend, you should begin to consider some general possibilities. Understand that private universities generally will cost more than public universities. Public schools also grant tuition reductions for in-state residents. As your child grows and begins to develop interests, you can certainly redirect your focus, but it will help to set some targets for saving as early as possible.

7. Ways to Fund A College Education
Pay for college by doing the right things in high school:
Apply for any and all scholarships available through your school and
through outside and private organizations
Complete the Free Application for Federal Aid (FAFSA) during the 1st
semester of your senior year
Get involved with school clubs and community based organization
Get the best ACT/SAT Score possible
Sign up for the A+ Program
Sign up in 9th Grade for KC Scholars College Savings Account/Match
Sign up in 11th Grade for KC Scholars Traditional Scholarships
Take Advanced Placement and Dual Credit Classes

8. Ways to Fund A College Education
Pay for college with your (and your student’s) own resources:
529 College Savings Plans
Contributions from Grandparents and Other Relatives
Coverdell Education Savings Accounts
Graduation Gift Money
KC Scholars College Savings Account/Match
Payment Plans
Student Savings from Part-Time Summer Jobs
Traditional College Savings Plans
Trust Funds
Tuition Assistance from Employers for Employees & Dependents
Veterans Benefits for Dependents

9. Ways to Fund A College Education
Pay for college with borrowed money:
Student Loans
Parent Loans for Undergraduate Students (PLUS Loans)
Private (or Alternative) Loans
Retirement savings (Use these as a last resort. Someday you (parents)
will eventually depend on these funds for your own support)
Other ways to pay for college with borrowed money:
Borrow against assets
Credit cards
Home Equity
Life Insurance
(NOTE: While these are options, be sure to evaluate the expense and risk
of utilizing them before making a commitment)

10. Ways to Fund A College Education
Pay for college with tax benefits (reductions) for higher education:
American Opportunity Credit
Lifetime Learning Credit
Student Loan Interest Deduction

11. Ways to Fund A College Education Pay for College with Merit-Based and/or Need-Based Aid:
Merit-based aid is awarded to students who have certain skills, talents, or characteristics, regardless of their family’s financial situation
Need-based aid eligibility is determined from the difference between a school’s cost of attendance and what a family can reasonably afford to pay (as determined by the FAFSA)

12. Your student will not complete and submit their FAFSA until the first semester of their Senior year…
Complete and submit your FAFSA to the U.S. Department of Education during the first semester of your student’s Senior year (prior to school deadlines)
Most aid is awarded on a “first-come, first served” basis
To ensure maximum consideration for federal, state and institutional aid, be sure to get information about:
- Required application materials
- Scholarship Deadlines
- Financial Aid Priority Dates
- Additional steps needed to complete various
financial aid processes

13. FAFSA Free Application for Federal Student Aid
A standard form that collects demographic and financial information about the student
(and their family, if applicable)

14. Why fill out a FAFSA?
Financial “need” is relative to the cost of attendance at a particular school (You never know…)
The FAFSA is also the Missouri student financial aid application (February 1st priority deadline)
All A+ students are required to complete the FAFSA
Low interest rate student loan eligibility is based on the results of the FAFSA

15. Look for “Thinking About College?” in the lower right hand corner
FAFSA4caster
If you’re not quite ready to apply for federal student aid, please check out FAFSA4caster at:
Look for “Thinking About College?” in the lower right hand corner
FAFSA4caster gives you an early estimate of your federal aid eligibility, which will give you better insight when making college choices
Your estimated federal student aid eligibility will help you better understand the types and approximate amount of federal student aid for which you may qualify
Just remember that FAFSA4caster is not an application for aid; it’s just a planning tool. When you are ready to actually apply for financial aid, you must still file the FAFSA!

16. Financial “Need” Formula
Cost of Attendance
– Expected Family (or Financial) Contribution
Gross Financial Need

17. Completing the FAFSA is just STEP ONE in applying for:
Federal Pell Grants – For students that have a 0 to 5,328 EFC. Awards range from $606 to $5,920 for (payment amount will be adjusted for less than full-time study). * NOTE – Federal Pell Grant eligibility is limited to 12 full-time semesters or the equivalent. Federal SEOG Grants – For Federal Pell Grant recipients that demonstrate the highest financial need. Awards range from $100 to $4,000 for (the amount you receive is contingent upon the allocation your school received from the Department of Education)

18. You may also want to consider….
TEACH (Teacher Education Assistance for College and Higher Education) Grants –
Provides grants of up to $4,000 per year for the academic year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families.
Iraq and Afghanistan Grants –
For students who are not Pell eligible due only to having less financial need than is required to receive Pell funds; whose parent or guardian died as a result of military service in Iraq or Afghanistan after the events of 9/11; and who, at the time of the parent’s or guardian’s death, were less than 24 years old or were enrolled at least part- time at an institution of higher education. Award amount for can be up to $5,529.28; payment amount will be adjusted for less-than-full-time study.
NOTE – Iraq and Afghanistan Grant eligibility is limited to 12 full-time semesters or the
equivalent (roughly six years).

19. FAFSA information is also used for:
Federal Work-Study
Federal Student & Parent Loans –
* Federal DIRECT Subsidized/Unsubsidized Student Loans − 4.45% Interest Rate/1.066% Origination Fee for both
* Federal DIRECT PLUS Loans − 7.00% Interest Rate/4.264% Origination Fee

20. As well as… Missouri Student Aid Programs –
February 1st Priority Deadline
Access Missouri Grants award amounts for
(EFC less than $12,000 - must be enrolled full time)
* Public 2-Year $ maximum/$ minimum
* Public 4-Year $2,000 maximum/$1,500 minimum
* Private 4-Year $2,000 maximum/$1,500 minimum
Missouri Bright Flight Scholarship award amounts for
(must be enrolled full-time)
* $3,000 top 3%; 31 or better on the ACT
(All awards are conditional on sufficient state appropriations)

21. A+ Scholarship Program Benefits
This program provides scholarship funds to eligible graduates of A+ designated high schools who attend a participating public community college or vocational technical school, or certain private two-year vocational/technical schools.
The A+ Scholarship Program PAYS FOR the unpaid balance of a student’s tuition and general fees after all available, non- loan federal financial assistance has been applied to their account (tuition amount is capped at $ per credit hour for the academic year). Federal Pell Grant funds will be applied to student account balances first; if any eligible costs remain, they will be billed to A+. NOTE: A student cannot receive A+ in addition to a Pell Grant if the Pell Grant pays for all A+ eligible tuition and fees.

22. FAFSA information may be used in determining your eligibility for:
Need-based Institutional Grants and Scholarships Many outside & private scholarships

23. Don’t forget to look for Outside & Private Scholarships!
Check with your High School Guidance Counselors or the admissions and financial aid offices at the schools that you are interest in attending
Look for information on Liberty Community Scholarships
Explore the internet, books and any other scholarship resources
Check with any clubs or organizations of which you (student or parent) are a member
Check the least obvious sources!

24. Essential Internet Sites
future.org

25. ANY QUESTIONS?
Please feel free to contact: Robin L. Stimac Student Financial Aid Manager MCC-Maple Woods Phone: Thank you for allowing me the opportunity to share this information with you this evening!