1. Financial Literacy Coordinator DeLucaL2@southernct.edu
Paying For College
Lew DeLuca
Financial Literacy Coordinator

2. Payment Options Grants & Scholarships (FREE $)
Loans (Student & Parent: Repaid with interest)
Payment/Installment Plans (10 month)
Investments (529, IRA, Coverdell & Custodial Accounts, U. S. Savings Bonds, Stocks & Bonds, Variable Life Insurance, Annuities, etc.)
Employment (Earnings, Tuition Waiver or Reimbursement)
Credit Card (2.85% Convenience Fee)
Home Equity Line of Credit

3. EFC (Estimated Family Contribution)
Applications
FAFSA (FREE application for federal student aid)
Submit October 1 annually
CSS Profile (FEE application for non federal aid)
EFC (Estimated Family Contribution)

4. Cost of Attendance (COA)
Direct costs
Tuition & Fees ($4,500, $12-17,000, $50,000)
Room & Board ($12-15,000)
Indirect costs
Room & Board (live home/off campus)
Books & Supplies ($1,400)
Personal & Transportation ($1,400-$4,000)

5. Sample Awards Private 4 yr. College Public CT 4 yr. College
Cost of Attendance
$70,000
$30,000
$13,000
- EFC
= Financial Need
Federal Pell Grant
$6,195
College Scholarship/Grant
$20,000
$3,500
$1,000
Direct Subsidized Loan
Direct Unsubsidized Loan
$2,000
Parent PLUS or Private Student Loan
$38,305
$14,805
$305

6. Sample Awards Private 4 yr. College Public CT 4 yr. College
Cost of Attendance
$70,000
$30,000
$13,000
- EFC
30,000
= Financial Need
$40,000 $0
Federal Pell Grant
College Scholarship
$20,000
$2,000
Direct Subsidized Loan
$3,500
Direct Unsubsidized Loan
$5,500
Parent PLUS or Private Student Loan
$44,500
$22,500

7. Next Steps Questions? FAFSA4Caster & Net Price Calculator
Submit FAFSA & CSS Profile 10/1 annually
Apply for private scholarships monthly
Work & save money each summer
Commute if campus costs prohibit attendance
Appeal Financial Aid awards if special circumstances
Questions?