1. Finding Money for College
Financial Aid Information
West Stokes High School
Sandra Bowen, School Counselor
October 2, 2017

2. 3 Ways to Pay for College Savings-529 plan, regular savings account
Financial Aid-grants, scholarships, work study, special low-interest loans
Borrowed money-regular bank loans

3. 3 Types of Financial Aid
Grants & Scholarships-money you don’t have to pay back
Loans-money you do have to pay back; Federal loans usually have a lower interest rate than traditional bank loans
Work Study-money you earn by working on the college campus; qualify via the FAFSA

4. Scholarships Local scholarships College specific funds
Check our guidance webpage
College specific funds
Check with your College Financial Aid office
National scholarships
Internet resources, also on the guidance webpage

5. RDS Residency Determination Service
Establishes NC residency for tuition purposes
Needed on all NC college applications
Documents needed: social security numbers (parent and student)
tax return information
vehicle registration
driver’s license
voter registration
other information about NC residency
BE ACCURATE! DON’T GUESS! Mistakes cause BIG problems!

6. What is the FAFSA?
FAFSA stands for FREE Application for Federal Student Aid.
Determines student eligibility for Pell Grant.
Also used by many other sources of aid for student eligibility.
Will determine the family’s EFC-Expected Family Contribution.
Current Minimum Pell Grant is $606; maximum is $5920.
Usually increases slightly every year.

7. 2016 HHS Poverty Guidelines
Persons in Family
1 $11,880
2 $16,020
3 $20,160
4 $24,300
5 $28,440
6 $32,580
7 $36,730
8 $40,890
For each additional person, add $4,160
SOURCE: Federal Register, January 25, 2016

8. 10 Things You Need To Know About the FAFSA
What is the FAFSA?
Is this all I need to do to get financial aid?
When do I fill out the FAFSA?
Is there a deadline for filing a FAFSA?
Will the Pell Grant pay for all my college costs?
My family owns our own business. We couldn’t qualify for aid, could we?

9. 10 Things You Need To Know About the FAFSA, continued
7. Does it matter which tax form I file my taxes on?
8. Does the FAFSA tell me how much money I’ll get for college?
9. What do I need to get ready to file the FAFSA?
10. What do I do after I file the FAFSA?

10. PELL GRANT
Up to $5, per academic year for award year. The award is divided evenly between semesters and is pro-rated from full- time to part-time attendance.
Yearly increases are usually pegged to the Consumer Price Index.
FAFSA can now receive your tax information electronically from the IRS, once you’ve filed.

11. Get your FSA ID now!
Go to and click on the FSA ID link to apply.
Parents and students must have separate FSA ID’s
Serves as your electronic signature in signing the FAFSA

13. What’s the PROFILE? Some colleges require in addition to the FAFSA
May qualify you for monies from their funds, even if you didn’t qualify for the Pell Grant
Apply at
$25 application fee + 1 college. Each additional college is $16 per report.

14. NC Institutions Requiring the Profile
Davidson College
Duke University
Elon University
University of North Carolina-Chapel Hill
Wake Forest University

15. North Carolina Education Lottery Scholarship (ELS)
Based on financial need.
Award amounts: $100 to $3,000 annually, renewable.
Eligible Applicant must:
Be a North Carolina resident for tuition purposes & enrolled at least 6 credit hours in a curriculum program.
Undergraduate student with no prior Bachelor’s degree
Be enrolled at a North Carolina public institution (UNC campuses and Community College Campuses)
Meet the Satisfactory Academic Progress requirements
Qualify by filling out the FAFSA
Maximum time frame-8 semesters (FT) or equivalent

16. NC Community College Grant
Eligibility requirements:
NC resident enrolled at least 6 credit hours per semester in a curriculum program
Meet Satisfactory Academic Progress
Completed FAFSA
Grant is $100-$1,500
Designed to supplement, not replace federal aid
Application Procedure
Complete the FAFSA and list a NC community college

17. The University of North Carolina Need-Based Grant
Eligibility:
NC resident enrolled at least half-time
Undergraduate with no prior bachelor’s degree
Documented need determined by program formula
Value:
Maximum for was $4,200/minimum of $500(avg. award-$1,890)
Awards for part-time enrollment are pro-rated
Application Procedure:
Complete the FAFSA and list a UNC institution
Apply by standard UNC priority deadline, March 1
Funding may be available for later applicants but early application of encouraged.
Income eligibility limit of $70,000

18. UNC Public Universities
Appalachian State University
East Carolina University
Elizabeth City State University
Fayetteville State University
NC A&T State University
NC Central University
NC School of the Arts
NC State University
UNC Asheville
UNC Chapel Hill
UNC Charlotte
UNC Greensboro
UNC Pembroke
UNC Wilmington
Western Carolina University
Winston-Salem State University

19. NC Need-Based Scholarship (NBS)
Begun in to provide need based funding for students attending eligible private institutions.
Private colleges &
Mid-Atlantic Christian University
The College at Southeastern
Carolina College of Health Sciences
Cabarrus College of Health Sciences
Mercy School of Nursing
Watts School of Nursing
Eligibility:
Must be enrolled at least 9 hours
Must meet requirements of Pell Grant except an EFC < $15,000
NC resident making Satisfactory Academic Progress

20. NC Forgivable Education Loans for Service (FELS)
Merit-based program for students who commit to working in NC in identified critical employment shortage professions: nursing, medicine, allied health, and teaching
Priority given to upperclassmen already admitted to area of study over freshmen and sophomores in 4 year programs
Eligibility requirements:
Legal NC resident for tuition purposes
Register with Selective Service, if required
Must not be in default, or owe a refund to any federal or state loan or grant program
Maintain Satisfactory Academic Progress
Must be willing to work in NC in a designated critical employment profession

21. FELS-continued
Cumulative GPA of no less that the following at the time of application:
-3.00 for graduating high school students (weighted)
-2.80 for undergraduate students pursuing an associate or bachelor’s degree
-3.20 for students pursuing a graduate or professional degree
Must sign a promissory note
Generally, 1year of loans are forgiven for 1 year of work in a designated field
Interest is 8% per year from date of disbursement
Max. 10 year repayment-may be less if small amount borrowed

22. Golden LEAF Scholars Program 4 year colleges
Available to public and private college students
Must reside in 1 of 78 qualifying counties (Stokes qualifies)
Freshmen & community college transfers
Emphasis on leadership development
Up to $12,000 scholarship for 4 years ($3,000/yr)
Application of CFNC.org in late December
Transcripts can be sent electronically or by mail to SEAA
Do not send to Golden LEAF Foundation!
Administered by NCSEAA

23. Golden LEAF Scholars Program 2 year colleges
Scholarships available for students attending NC community colleges
Must reside in 1 of 78 qualifying counties (Stokes qualifies)
Must demonstrate financial need
Curriculum students will be selected based on financial need. Degree seeking students must be FT to receive maximum scholarship award
Less than full-time will be pro-rated

24. Golden LEAF-2 year Colleges continued
Maximum Awards -Curriculum students-$750/semester -Occupational Education Students-$250/semester Funds may be used for tuition, fees, books, supplies, and with special provisions, childcare and transportation expenses. Application procedure -Contact the college’s financial aid office for more information on how to apply and deadlines

25. NC Reach Child Welfare Postsecondary Support Program
Funding for students who:
-have aged out of NC public foster care OR
-were adopted from foster care after age 12
Eligibility requirements:
-Age and meet the criteria above
-Enroll at least ½ time in NC community college or UNC campus, seeking undergraduate degree, diploma, or certificate
-Registered with Selective Service, if required
-Not in default nor owe refund to any federal or state loan or grant programs
Maximum value: Coast of Attendance minus other aid
Applications and additional information

26. NC Promise
Reduced tuition of $500 per semester at the following NC public universities
Western Carolina
UNC-Pembroke
Elizabeth City State University
Does not reduce fees, room and board.

27. Full Scholarship Programs
UNCG Guarantee
Appalachian ACCESS
Carolina Covenant
Using a combination of grants, scholarships and work study allows students with financial need to graduate debt free.
Students qualify with FAFSA EFC=“0”
Must be an admitted student to the university.
Financial Aid office at each university determines who qualifies; each program has different requirements.

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