1. Mind-Streams Funding for College

2. Agenda Financial Aid Grants Scholarship Opportunities Employer Tuition Assistance Direct Bill Military Discounts & Benefits Cash

3. Federal Funding Financial Aid –Federal Student Loans –Subsidized vs. Unsubsidized –Private Education Loans Grants –Federal Pell Grant –New Teach Grant Program –Title 1 Loan Forgiveness –Public Service Program

4. Federal Funding Financial Aid - How it Works –Financial Aid is a combination of Grants and Student Loans backed by the Federal Government –These funds are used to pay the cost of tuition (and sometimes books) up front for College. –Federal Student Loans are not based on income or credit scores

5. Financial Aid Eligibility Enrolled at least half time at an eligible school and maintaining satisfactory academic progress A U.S. citizen or a permanent resident No current student loans in default. No federal income tax liens No drug felony convictions Annual household income cannot exceed $500,000 Registered with Selective Service if a male

6. How to Apply for Financial Aid Contact your Education Consultant at Mind-Streams Complete the online application process outlined by your Education Consultant –FAFSA, Entrance Interview, Master Promissory Note Verification: The school’s financial aid office will receive a copy of your FA application from the U.S. Department of Education. A welcome e-mail regarding information about your funding eligibility will then be sent to you You must be accepted into your chosen degree program prior to being awarded financial aid

7. Federal Student Loan Amounts Academic Year Loan Limits Base LoanAdditional LoanTotal Sub/UnsubUnsub Freshman$3,500$4,000$7,500 Sophomore$4,500$4,000$8,500 Junior$5,500$5,000$10,500 Senior$5,500$5,000$10,500 Graduate$8,500$12,000$20,500

8. Federal Student Loan Limits Aggregate Loan Limits Undergraduate Subsidized Limit23,000 Undergraduate Combined Limit46,000 Graduate Subsidized Limit (Including all undergraduate loans)65,500 Graduate Combined Limit (including all undergraduate loans)138,500

9. Federal Pell Grant A Federal Pell Grant does not have to be repaid Pell Grants are awarded to undergraduate students who have not earned a bachelor's or a professional degree. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.

10. Federal Pell Grant The maximum award for the 2008-09 award year is $4,731. The amount you get will depend on your financial need, your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.

11. Teach Grant Program Effective for 2008/2009 School Year Eligible up to 4,000 per year Conditions: –Must serve as a a full time teacher in a high need field in a public or private Elementary or Secondary school that serves low income students –Must teach at least 4 years within eight calendar years of completing your program of study

12. Teach Grant Program Eligibility: –Complete FAFSA –Be enrolled in undergraduate, post-baccalaureate, or graduate program in education –Coursework chosen meets the needs to begin teaching in a high need area –Meet certain Academic Achievement (75 th percentile 3.25 GPA) –Sign Teach Grant Agreement

13. Teach Grant Program High Need Field –Bilingual Education or ESL –Foreign Language –Mathematics –Reading Specialist –Science –Special Education –Other Identified Areas (state specific)

14. Title 1 Loan Forgiveness Eligible for up to 17,500 total Requirements: –The student needs to teach in a title 1 or low income school for 5 consecutive years. They can move and teach at different schools but each school must be a title 1 or low income school. –Must be highly qualified which means you are officially certified to teach –Must be a full time teacher –Can’t have a balance due on a student loan they took out prior to Oct. 1 1998

15. Title 1 Loan Forgiveness Requirements: –General Education receives 5,000 in loan forgiveness –Areas of Math, Science or Special Education can receive an additional 12,500 for a total of 17,500. –Loan forgiveness is applied after the student takes out federal student loans and finishes degree with 5 year minimum teaching requirement. –Loan forgiveness is not a grant, it is applied at the tail end of the loan

16. Public Service Program –Program Specifics: New public service program provides cancellation of remaining student loan balance after 120 payments are made Program in effect as of October 1, 2007 Program can be use on any non defaulted student loan –Federal Direct Stafford –Federal Direct Unsubsidized Stafford –Federal Direct Plus Loans –Federal Direct Consolidation Loans –Federal Perkins Loans

17. Public Service Program Borrower must not be in Default on any of the eligible loans 120 payments start counting after October 1, 2007 – any earlier payments are not counted Borrowers can opt for several types of repayment plans to reduce monthly payments to as low as $50, then have the remaining balanced paid off by federal government

18. Public Service Program Types of re-payment plans: –Standard Repayment Plan – 10 year –Income Contingent Repayment –Income Based Repayment Eligibility: –Must be employed in public service job during the 120 monthly payment time frame –Must be employed in a public service job at time of loan forgiveness

19. Scholarships Financial aid provided to a student because of academic, athletic, or artistic merit Awards are also available for students who are interested in particular fields of study, who are members of underrepresented groups, who live in certain areas of the country or who demonstrate financial need. Two examples of popular scholarships: –www.fastweb.comwww.fastweb.com –www.scholarships.comwww.scholarships.com

20. Employers Tuition Assistance The reimbursement relationship is between the student and the employer, not between the school and the employer. The student is liable for tuition payment to the University. Participating employers may ask you to make the initial payment, reimbursing you at the quarter or the semester – after you have received your grades.

21. Direct Bill Participating employers are billed for tuition directly from the university. Employers must set up an account with the school Students must have their employers complete a Direct Bill Voucher and submit it with their application Any balance not covered by the Employer or defaulted on by Employer must be paid by the student before the end of each semester

22. Cash Students may pay cash per course or per semester Cash, check, credit cards are usually accepted Monthly Installment Plans: –enables students to spread tuition payments equally without interest or finance charges

23. Military Schools may offer discounted tuition for active military personnel and spouses VA Benefits –Montgomory GI Bill –ROTC –Top-Up –Vocational Rehabilitation (Chapter 31) For additional information, call 888-442-4551 or visit www.gibill.va.govwww.gibill.va.gov

24. Questions ?

25. Next Steps Contact your Mind Streams education Consultant to discuss your opportunities for taking advantage of your funding and grant options 1-888-413-1940 www.mind-streams.com