1. Funding Your Education Wisely
Taking A Closer Look at the Various Types of Aid and the Financial Aid Process

2. Discussion Topics We’ll Help Value and Cost of Postsecondary Education
Choosing the Right Career & College for You
Financial Aid Types & Sources
FAFSA
How College Cost is Presented
Social Media
Next Steps 2

3. We’ll Help… Provide us with your Name and E-Mail
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 at: 3

4. Value and Costs of Postsecondary Education
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Value and Costs of Postsecondary Education

5. The Value of Higher Education5
Source: Bureau of Labor Statistics, Current Population Survey

6. Student Debt
70% of the class of 2013 graduated with college-related debt
Average college related debt $35,200
50% are surprised by how much they owe
Federal Student Loan Debt topped $1 trillion in May 2013
Fidelity, Cost-Conscious College Graduates - (
Consumer Financial Protection Bureau - ( 6

7. Choosing the Right Career and College for You

8. Choosing Your Career
Investigate career options using free online tools
Indiana Career Explorer
Career OneStop Skills Profiler
Careerinfonet.net/skills/default.aspx
Search for Majors related to specific
career paths
Internships, Job Shadowing, Volunteering
bigfuture.collegeboard.org/majors-careers 8

9. Choosing Your School College Navigator Factors to Consider
Factors to Consider
Cost
Location
State, Region
Suburban, Urban, Rural
Size
Degree and Major Options
Religious Affiliation 9

10. Does It All Fit?
Finding a school that offers your major AND is a good fit for you is the key
If you are happy with your career and major choice you are less likely to change majors
If you are happy with your college choice you are less likely to transfer
Changing majors or schools may add extra years to college, which means extra expenses 10

11. College Costs & Expected Salary
Learning your expected salary & investigating overall college costs can help you plan
Hoosier Hot 50 Jobs
Student Loan Game Plan 11

12. Doing it Right ✓ ✓ ✓ 12

13. Financial Aid
Sources and Types

14. Sources of Funds Federal Government State Government Institutions
Need Based Scholarships/Grants
Athletic and other talent-based Scholarships
Private Businesses
Wal-Mart, Cummins, Gates Foundation
Civic Organizations
Lions Club, Elks Club, etc. 14

15. Financial Aid Options Gift Aid Self-Help Scholarships Grants
Local and National
Grants
Federal and State
Institutional
Self-Help
Work and Work-Study
Savings
Experience
It’s Never Too Late to Start
Loans 15

16. Scholarships Money you DON’T have to repay! Ask around Balance
Ask around
Student’s Place of Employment, Parent’s Place of Employment, Guidance Counselor, Church Groups, Local Businesses, and Organizations
Balance
Spend a fair amount of time on small and large scholarship applications 16

17. Make a Plan Create Scholarship Resume
Think Baby Book for your High School Student
Apply to all that you are eligible for
Target List (list of scholarships that are coming up)
Start Writing Essays (Proofread)
Find Other Scholarships asking Same Question
Apply to 10, 20, or more using one base essay
Add experiences to your resume
Build Houses
Feed the Poor 17

18. Scholarships – Get Creative!
There’s something for everyone!
Have fun searching your favorite things. 18

19. Grants More $ you DON’T have to repay! Your College or University
Federal or State Government
Pell and TEACH
Your College or University
Institutional Aid 19

20. Savings
It is less expensive to save for college than to borrow.
When you save, the money earns interest. When you borrow, you're paying the interest
Myth: Savings will prevent families from getting financial aid.
Truth: The federal formula that calculates a families EFC does not look at around $50,000 of parental assets for the average family.
Savings tips:
Investigate Savings Plan Options
Including 529 College Savings Plans,
Money Market Accounts, Regular
Savings Accounts
Start a savings plan
Parents and Students
Continue saving through college 20

21. Work-Study and Work Work-study is References Gain experience
Most often on campus
Maximum 20 hours per week
Money is earned
References
Scholarships
College admissions
Future employment
Gain experience
Learn about a particular industry
Find the right career field
Topics for scholarship essays 21

22. Remember, loans MUST be repaid!
Education Loans
Federal Stafford Direct Loan (4.66%, 1.072% fee)
Subsidized
Unsubsidized
Federal Parent Loan for Undergraduate Students (PLUS) (7.21%, 4.288% fee)
Federal Perkins Loan (5.00%, 0.00% fee)
Private Education Loans (Varies)
Remember, loans MUST be repaid!
(Interest Rate for loans disbursed on or after 7/1/14, Loan Fees for loans disbursed between 12/1/13 – 10/1/14) 22

23. Free Application for Federal Student Aid
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Free Application for Federal Student Aid
(FAFSA)

24. The Importance of the FAFSA
Currently the FAFSA is the Most Important form when applying for Financial Aid
All Federal Funds (Grants, Scholarships, and Loans) use the information provided on the FAFSA
All Funds from the State of Indiana (Grants and Scholarships) are based on the information provided on the FAFSA
Determines EFC 24

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

26. 26

27. Other Resources Fafsa4caster ISM College Planning Team
Using FAFSA4caster, you and your family will receive an early estimate of eligibility for federal student aid and help you better understand the financial aid process.
ISM College Planning Team
Financial Aid Night
FAFSA Completion
Personalized Help
E-Newsletter 27

28. Doing it Right ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 28

29. How College Cost
is Presented

30. 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 30

31. Net Price Calculators 31

32. Sample net price calculator data from IUPUI
admissions/costs.html 32

33. Award Letters
Show eligibility for various types of aid at a particular institution
Shopping Sheet
Some schools may use the format of the shopping sheet, if not you can fill the pieces in from your award letter and compare college costs 33 33

34. Simple Comparisons School A School B Cost of Attendance*
School A
School B
Cost of Attendance*
Federal Gift-Aid
State Gift-Aid
Institutional Gift-Aid
Other Gift-Aid
Work-Study
Loans
Perkins
Direct Subsidized
Direct Unsubsidized
PLUS Loan
Private Loan
Total Loans
Other
* Includes Tuition, Room and Board, Supplies, and Other Costs 34

35. Comparison Tips Institutional Aid varies from School to School
Federal Aid Same at all Schools (where accepted)
Start with the COA and subtract all forms of Gift-Aid to find “Net Cost”
Remember to count your EFC as it is part of what you will have to pay 35

36. Comparing Colleges
CollegeRealityCheck.com 36

37. Social Media

38. Using Social Media to Find Scholarships
Create a professional Online Presence
Use an appropriate address, such as Do not use offensive or suggestive addresses.
Review your Social Media Accounts removing inappropriate material and anything that may be misinterpreted. Remove pictures or videos that show illegal or questionable behavior. Avoid using profanity.
Think twice before posting anything offensive, illegal or otherwise inappropriate.
Ask your social network for leads
You ask about scholarships in person, why not online?
Be Engaging and Personal
Communicate with Scholarship Providers
Don’t forget a thank you card and post/tweet 38 20

39. Evaluation of Scholarship Applicants
Survey of 300 National Scholarship
Providers Association (NSPA) members
(Members award more than $1 billion annually)
About a quarter of scholarship providers use web searches and social media to search for online information about scholarship applicants
Most scholarship providers only screen finalists
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%) 39

40. Evaluation of Scholarship Applicants
A quarter of scholarship providers who screen the online presence of scholarship applicants have selected an applicant because of information they found out about them online.
A third of scholarship providers who screen the online presence of scholarship applicants have denied an applicant a scholarship because of information they found out about them Online 40

41. TITLE SLIDE BLUE
Next Steps

42. What do I do now? Talk w/ Counselors SAT or ACT FAFSA4Caster
Scholarships
Applications (and Deadlines)
Campus Visits
College Fairs 42

43. 43

44. ISM on Social Media Facebook Twitter Others
Twitter
@ISM_CollegePlan
Others
Instagram –
Pinterest - 44

45. 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 45

46. Susan Tharp TITLE SLIDE BLUE 317-715-9007