1. THE ESSENTIALS OF
FINANCIAL AID

2. Average Yearly College Costs
Public Four-Year Colleges (in-state)
Tuition and Fees = $3,500- $5,000
Books and Supplies= $700-$800
Room and Board= $5,000-$6,500
Total= $9,000-$12,300
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3. Average Yearly College Costs
Private Four-Year Colleges
Tuition and Fees=$17,000- $20,000
Books and Supplies= $750-$850
Room and Board= $6,000-$7,500
Total= $23,750-$28,500
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Ben Lowe and Derek Morrison

4. Average Yearly College Costs
Community College
Tuition and Fees= $1,700-$1,900
Books and Supplies= $650-$800
Total= $2,350-$2,700
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5. Financial Aid Overview
Financial Aid is money that is given, earned, or lent to help students help pay for their education. Most financial aid is provided by the government and by the colleges themselves.
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6. The Four Forms of Financial Aid
Financial aid comes in one of the following four forms: grants, scholarships, work-study, and loans.
Grants and scholarships are considered “gift help” because they represent money that is given to students. Work-study and loans are considered “self-help” because they provide money that must be earned (work-study) or repaid (loans).
-Grant
-Work-study
-Scholarship
- Loan
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Financial Aid
Need-Based Financial Aid is awarded to students whose families do not have sufficient financial resources to pay for college.
Merit-Based Financial Aid is given to students who have outstanding abilities, talents, and/or achievements.
Need and Merit-Based Financial Aid some financial aid awards take both need and merit into consideration.
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Grants
A grant is money that is given to a student to help him/her pay for college. This money does not have to be repaid. Grants are often awarded to students who live and go to college in their home states.
Pell Grant- federally funded grant that provides money each year for lower income families.
Supplemental Educational Opportunity Grant- federally funded grant designed to provide additional funds to families with exceptional need.
State Grants- state governments have a variety of programs to help students pay for college.
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Grants Continued
Institutional Grants- Colleges often use their own funds to award institutional grants.A private college for example may award an institutional grant as a way to encourage a qualified student to attend their college.
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Scholarships
Scholarships are the most publicized and talked about form of financial aid. While there are a great number of scholarships available, scholarships can be difficult to get.
Athletic Scholarships- to ensure that all athletes are prepared for college, the NCAA and NAIA have strict eligibility requirements that athletes must meet before the y can receive a scholarship or play a sport in college.
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Scholarships Cont.
Talent Scholarships- most talent scholarships are awarded in music, art, theater, and dance. They are also awarded in a variety of other areas.
Local Scholarships- provide numerous scholarships for the students in a community. These scholarships are generally for smaller amounts.
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Local Scholarships
Local scholarships include but are not limited to: the Agiguae Women’s Club, Rotary Club, Civitans, Oneonta Athletic Boosters, Jaycees Scholarship, SGA Scholarship, Ira B Patton Scholarship, And several memorial scholarships.
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13. Searching for Scholarships
With the availability of information on the internet, there is little reason to use a scholarship search service that charges a fee. The scholarship services listed below are free and they provide excellent information.
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Check This Out
Work-study programs give students the opportunity to earn money while they are attending college.
Loans when grants, scholarships, and work-study do not provide enough money to cover a families financial need, you/your parents can take out a loan to cover remaining costs, and repayment doesn’t begin until 6 months after the student is out of college.
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Stafford Loan
The Stafford loan is by far the most popular collage loan program. Stafford Loans are made to students, and repayment doesn’t begin until six months after the student is out of college.
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Perkins Loan
An undergraduate student with exceptional need may be awarded a federal Perkins loan for up to $4,000 a year. Perkins loans have a five percent fixed interest rate. Repayment begins 9 months after the student is out of college.
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Plus Loans
(Parent Loan for Undergraduate Students)
These loans are offered to the parents of college students. The interest rate is not to exceed 9% and repayment begins in 60 days.
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The Military
Offers a number of excellent programs to help young men and women pay for college. Visit these sites.
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Other Military Sites
ARMY USA-ARMY
NAVY USA-NAVY
AIR FORCE USAF
MARINES MARIENS
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AmeriCorps
AmeriCorps is a service program. AmeriCorps workers help communities with their education, public safety, human services, and environmental needs. For more information visit or call
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The End!
Make Good Choices.
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