1. The Big Bad World Of College Financial Aid How to pay for the college of your dreams! Ms. Nelson/Innovation School

2. On average, the typical undergraduate leaves college $15,000 to $20,000 in debt.

3. How is aid distributed? Institutions distribute their aid in two ways: * Need based: ________________________ * Merit based: ________________________

4. Scholarships Money given by private institutions.Money given by private institutions. Also called Grants, or Institutional Awards.Also called Grants, or Institutional Awards. Merit Based Awards: Awarded for individual achievement, ability or potential.Merit Based Awards: Awarded for individual achievement, ability or potential. Need Based Awards: Given based on financial need; Pell Grant.Need Based Awards: Given based on financial need; Pell Grant.

5. LOANS Student Loans: Money borrowed to pay for tuition and college costsStudent Loans: Money borrowed to pay for tuition and college costs –Subsidized loans: for those who demonstrate need. Borrower usually pays back a portion of the interest; Direct Stafford Loans. –Unsubsidized loans: Available to any student or their family for the purpose of tuition or college costs.

6. Other Forms Of Aid Tax Credits: Called the Hope Scholarship. It directly reduces the full tax you pay.Tax Credits: Called the Hope Scholarship. It directly reduces the full tax you pay. Lifetime Learning Tax Credit: Targets adults who want to go back to school, change careers, or take classes to upgrade skills.Lifetime Learning Tax Credit: Targets adults who want to go back to school, change careers, or take classes to upgrade skills. Work Study: Help arranged for employment including extra wages.Work Study: Help arranged for employment including extra wages.

7. Scholarship Myths Only low-income families get help paying for college. Stems from the confusion between need and merit based aid. Merit scholarships rarely consider income. Only students with high GPA’s win merit awards. True with academic scholarships; but merit scholarships are awarded for all kinds of talents and interests. There might be a minimum GPA, but many other factors are important.

8. Scholarship Myths Most scholarships are for athletes or minority students. Although there are many scholarships for athletes and minorities, there are even more offered for other reasons. Check with your church, parent’s jobs, clubs, interests, hobbies, and anything else you can think of. Focusing on a few awards maximizes your odds of winning. By applying for a large number of scholarships minimizes problems that are out of your control. It isn’t as much work as you might think!

9. Who Gives Out Aid Federal Government: FAFSA paperwork.Federal Government: FAFSA paperwork. State Governments: FAFSA paperwork.State Governments: FAFSA paperwork. Private Sponsors: Private companies, foundations and corporations offer aid for a variety of reasons.Private Sponsors: Private companies, foundations and corporations offer aid for a variety of reasons. Colleges,__________________________________Colleges,__________________________________ Veterans groups, ___________________________Veterans groups, ___________________________ Different focus groups: ______________________Different focus groups: ______________________

10. Interesting Opportunities Western Sunbathing Association: a regional chapter of the American Association for Nude Recreation, provides $1,000 scholarship to members’ children who write an essay on “What Nudism Means To Me.”Western Sunbathing Association: a regional chapter of the American Association for Nude Recreation, provides $1,000 scholarship to members’ children who write an essay on “What Nudism Means To Me.”

11. Application Components Essays or Short Answers Questions.Essays or Short Answers Questions. Sample Work and Project SubmissionsSample Work and Project Submissions Extracurricular Activity ListsExtracurricular Activity Lists Grade TranscriptsGrade Transcripts Letter of RecommendationLetter of Recommendation InterviewsInterviews AuditionsAuditions Awards and HonorsAwards and Honors Test ResultsTest Results

12. HINT: Steer clear of ENTRY FEES Steer clear of ENTRY FEES Unlike application fees, scholarship contests rarely cost anything to enter. You MAY have to pay a small processing fee (for example, the National Honor Society charges $4 processing fee).

13. How Parents Can Help 1.2.3.4.5.

14. Action Steps 1.Assemble your scholarship search tools. 1.Large Dated Calendar 2.Personal Information 3.Envelopes, Stamps, Pens and Pencils 4.Coffee and Candy 2.Tap into your school’s resources. (Dittmar/Counselors) 3.Search scholarship databases. (Cappex.com) 4.Canvas your community. (Rotary Club) 5.Seek out government sources. (FAFSA) 6.Pursue all personal and family affiliations.(Work related scholarships) 7.Do it DAILY

15. Scholarship Databases 1. 1. 2. 2. 3. 3.

16. Universal Judging Criteria Evidence of hard workEvidence of hard work Overcoming obstaclesOvercoming obstacles ________________ ________________ PerseverancePerseverance Individual InitiativeIndividual Initiative __________________________________ ResponsibilityResponsibility Civic DutyCivic Duty ________________________________ CharacterCharacter

17. Application Content Strategies 1.2.3.

18. Essays and Short Answer Questions Finding your own voice: Free write for practice. Consult other essays. Talk it over with trusted people. Record yourself. Move locations: new point-of-view. Zoom into a detail or description.

19. Advice for Specific Topics Future Career AspirationsFuture Career Aspirations Your Greatest AchievementYour Greatest Achievement A Person You AdmireA Person You Admire Solving a Pressing IssueSolving a Pressing Issue Growth ExperiencesGrowth Experiences