1. Junior College Prep
2/22/18

2. Student Debt
Video

3. Cost of College
A moderate budget for an in-state public college is averaged at $25,290 per year/$101,160 total
A moderate budget at a private college is averaged at $50,900 per year/$203,600 total
The reported college "cost of attendance" is rarely the cost students pay. Net price is the most critical figure for families to consider.

4. Earnings with a College Degree
A college education is worth, on average, $830,000 more than a high school diploma over the course of a lifetime.
College can make a difference in the quality of your life and is therefore a worthwhile investment.

5. Financial Aid
College can be expensive, but there are sources of financial aid available to help you pay for your education:
Need-based aid
Merit-based aid

6. Need-Based Aid
Need-based aid is financial aid given to students based on their family’s income and assets (what their family owns).
Three sources that give need based aid to students:
Federal government
State government
Institutions (colleges and universities)

7. How to Apply for Need-Based Aid
The FAFSA is the Free Application For Federal Student Aid.
Some schools may require the CSS Profile. This is an application for non-federal student aid.
List of Institutions Using the CSS Profile.
The FAFSA and the CSS Profile will open on October 1, 2018.
It is your responsibility to know when the deadlines are.

8. Estimated Family Contribution
The number that the federal government expects you to contribute toward the cost of college.
The EFC calculation is complex and takes into consideration many factors including: parent and student income, income tax liability, exemptions claimed, net asset value, household size, number in college, age of parents, etc.

9. What is Financial Need? – Estimated Family Contribution (EFC)
Cost of Attendance (COA)
– Estimated Family Contribution (EFC)
___________________________________________________________
= Financial Need
Ex: COA = $25,000
EFC = $10,000
Financial Need = $15,000

10. Types of Need-Based Aid
Loan – federal aid that must be repaid after attending college. Loans include interest, meaning the amount owed back will be higher the longer it takes to repay the loan.
Work study – a federal student aid program that provides part-time employment while student are enrolled in school. The income from work study is used to help pay your education expenses.
Pell grant – a federal grant which does not need to be repaid

11. Estimating the Cost
Net price calculator - a free online tool that gives you a personalized estimate of net price. The federal government now requires most colleges and universities to have a net price calculator on their websites.
College scorecard - the most reliable data on college costs, graduation, and post-college earnings.

12. Merit-Based Aid
Merit aid is financial aid that is given based on a student’s academic performance, leadership, community involvement, character, or other special talents.
Two types of merit aid:
Institutional scholarships
Private scholarships

13. How to Apply for Scholarships
Institutional scholarships - Your application to the institution is usually also the application for scholarships. Scholarships are typically based on the GPA and standardized test scores. There may be more institutional scholarships that you can apply for (found on the financial aid website).
Private scholarships – To see local and national scholarship opportunities, visit the College Counseling Website. Most deadlines are in the spring of senior year.

14. Cost of Applying to College
Application fee ~$50 per application
Sending SAT scores - $12 per score report
Sending ACT scores - $13 per score report
How much would it cost to apply to 7 schools?
7 schools x $50=$350
How much would it cost to send 1 SAT score report to 7 schools?
7 schools x $12 = $84 ($434 total)
How much would it cost to send 2 SAT score reports to 7 schools?
7 schools x $24 = $168 ($518 total)

15. International Student Financial Aid
Big Future College Search – In the “Paying” section you can select a box to find schools that give international students financial aid
Financial Aid for Nonresident Alien Undergraduates

16. Raise.Me
Raise.Me allows students to earn scholarship money from over 265+ partner colleges for doing things that you already doing in high school (earning good grades, taking advanced courses, participating in extra curricular activities, etc.)
Go to and create an account
Follow suggested schools that you like. You can follow and unfollow schools later.
Add a class that you have a received an A or B in.

17. Raise.Me Pages
Portfolio Page - add achievements to earn scholarship money
Scholarships Page - discover more scholarship opportunities
Colleges Page - find the search bar in the top right corner. Search for schools of your choice. Click on the “Follow” button on a school‘s profile to get updates on their offerings and earn scholarships. To earn scholarship from a school, that school must be a Raise partner. If a school is not a partner, follow them anyway to stay updated. They may eventually become a partner.

18. Maintaining Scholarships
Each school has a minimum GPA you need to maintain in order to be eligible for that scholarship. If your GPA drops below that minimum then you lose your scholarship earnings, but if you bring your GPA back up, you’ll get your scholarships back.

19. Important Tips
When you earn scholarships through Raise.me, it does not mean that you have been admitted to that college.
If you earn a scholarship through Raise.me, that is an award from that college. You cannot transfer your micro-scholarships between colleges.