1. How Can I Afford to Send My Child to College? Shayla McGlothan & Chris Farr

2. About Me UGA Alum Georgia College Advising Corps College Adviser

3. Agenda O Understand Costs of College O FAFSA O Types of Aid O Hope Scholarship/ Zell Miller Scholarship O Private Scholarships O Questions

4. Understand College Costs O Avg. Cost of College in Georgia (tuition & fees): O 2 year College - $3,600 O 4 year Public College/University - $7,800 O 4 Year Private College/University- $28,700

5. Sample COA

6. COA vs. Net Price O Published Costs of Attendance (COA) vs. Net Price O COA includes direct & indirect costs: O Tuition & Fees O Room & Board O Books & Supplies O Other Expenses (Transportation, etc.) O Net Price O COA - Grants & Scholarships O Net Price Calculator

7. Sources of Financial Aid O Federal O State O Institutional O Private

8. FAFSA O FREE Application for Federal Student Aid O www.fafsa.ed.gov O About 100 Questions O Available every year on Jan. 1st O Complete annually O Deadline- depends on school, but ASAP O Pin Number (Student & Parent) O Income Driven- Tax Returns O Cannot list special circumstances O Send to up to 10 schools

9. What does the FAFSA Calculate? O Demonstrated Need O COA - Estimated Family Contribution (EFC) O Student Aid Report (SAR) O Receive in a week via e-mail O 4-6 Weeks for college to process O Financial Aid Award Letter

10. What Influences the EFC O Parent O Income O Savings O Assets O Number of people in college O Family Size O Students O Income O Savings O Independent/Dependent

11. Common Questions O Divorced or Separated Parents O Provide parent information for parent has child 51% of the time O If equal, who provides more monetary support O If parent is remarried, provide info for both biological parent and step-parent O Independent Students

13. FAFSA Tips O Enter name exactly how it appears on Social Security Card O Use IRS Data Retrieval O Fill out the FAFSA the day after monthly bills are paid O Use "Help & Hint" link on right side of screen O Select "Yes" for work- study O IRS Data Retrieval Tool

14. Types of Financial Aid O Free Money O Scholarships O Grants O Self-Help O Work-Study O Loans

15. Free Money O Grants- financial aid that doesn't have to be repaid. Often need-based. O Federal Pell Grant: max. amount $5,730 O Federal Supplemental Educational Opportunity Grant O Teacher Education Assistance for College and Higher Education (TEACH) Grant O Iraq and Afghanistan Service Grant

16. HOPE/Zell Miller Scholarship O HOPE Scholarship O 3.0 GPA in Core Classes O Portion of tuition - ~90% O Zell Miller Scholarship O 3.7 GPA O 1200 SAT (CR & M) or 26 ACT O Full tuition covered O Public vs. Private O Maintaining, Losing, Regaining O www.gacollege411.org

17. HOPE/Zell Miller Grant O HOPE Grant- seeking certificate or diploma at Technical College, will pay percentage amount of tuition, O No GPA requirement O 2.0 GPA at checkpoints O Zell Miller Grant

18. Strategic Industries Workforce Development Grant O Eligibility requirements same as HOPE Grant O Certain high demand industries O Commercial Truck Driving O Practical Nursing O Welding O Diesel Mechanic O Early Childhood Care/Education O Healthcare Technologies O Information Technology

19. Private Scholarships O National Websites O zinch.com O bigfuture.collegeboard.org O fastweb.com O Local Scholarships- Newspaper O Your Employer O Surrounding High School Websites O RENEWABLE!!!

20. Self-Help O Work Study- on campus or off campus job, students are paid at least federal minimum wage O Money does not have to be repaid O Does not count against you on following years FAFSA O Job outside of school MAY count against you

21. Loans O Must be repaid O Two Federal Student Loam Programs O Federal Direct Loan (4 Types) O Direct Subsidized Loans O Direct Unsubsidized Loans O Direct PLUS Loans O Direct Consolidation Loans O Federal Perkins Loan Program

22. Loans O Direct Subsidized Loans, 3.86% interest rate O financial need O may not exceed financial need O U.S. Dept. of Education pays the interest while you're in school at least half-time for the first six months after you leave school O loan postponements O First Year- Max. $3,500 O Second Year- Max. $4,500 O Third Year and Beyond- Max. $5,500

23. Loans O Direct Unsubsidized Loans, 3.86% interest O No requirement for financial need O School determines amount based on COA and other received financial aid O Student responsible for interest during all periods O Unpaid interest will be added to principal amount of loan O Up to $20,500 (less any subsidized amounts received from same period) depending on grade level and dependency status

24. Loans O Direct Plus Loan, 6.41% O Parents of dependent undergraduate students can be used to cover costs not covered by other aid O U.S. Dept of Education is lender O Credit Check is conducted O Max. Loan amount: COA - any other aid received O Federal Perkins Loan, 5% O Exceptional financial need O School is the lender

25. Loans O To receive loans, student must complete entrance counseling O Any additional fund will be paid to the student O The student has to accept the amount they choose to accept *If you are a dependent student whose parents are ineligible for a Direct Plus Loan, additional funds from unsubsidized loans may be available.*

27. Questions?