Transcript Slide 1

GRASP
Post Secondary Education
A Financial Perspective
October 14, 2009
Miriam Tice
GRASP Advisor
[email protected]
grasp4virginia.com
24 hour hotline 804 323 6996
What is GRASP?
Our goal is to ensure that every student has an equal
opportunity for continuing education after high school,
regardless of financial or social circumstances.
Deep Run High School
Douglas S. Freeman High School
Godwin
Henrico
Hermitage
Hermitage Technical Center
Highland Springs
Tucker
Varina
Your GRASP Advisor, Wednesdays: 9:00 – 2:00
• Miriam Tice is the GRASP
representative for Henrico High
School returning for her second
year!
• Undergraduate degree from
Virginia Commonwealth
University, Cum Laude.
• Appointment sign up sheet is
located in school counseling.
• To email:
[email protected]
5 Steps to Success
1. Scour college websites: scholarship
dates, priority filing dates for financial
aid, application dates.
2. File FAFSA on-time regardless of your
perceived financial need.
3. Do not get “emotionally hooked” on a
school if finances matter.
4. Apply for Henrico’s advertised
scholarships!
5. Do not exclude private schools from
your list due to affordability issues.
6. Pay attention to emails.
2009 GRASP
Scholarship Winner
and Donor
In case you forget all that I say, look at:
www.ecmc.org/student/Opportunitiesbooklet.html
This Virginia-specific guide is available in
English, Spanish, Vietnamese and Russian.
5 Step FAFSA Process
1. File @ www.fafsa.ed.gov after 1/1/10.
2. At the final FAFSA step, after “submit your FAFSA”,
note the data release number (DRN) and EFC
displayed. These will appear immediately.
3. Check email regularly. Look for a Student Aid
Report. Check it for errors.
4. Before the priority filing dates, contact schools to
verify receipt of the FAFSA. Schools should have
downloaded it from the FAFSA website.
5. Upon receipt of letters from the government or
schools regarding verification or a rejection,
respond promptly!
Priority Filing Dates
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Virginia Tech 3/1
Virginia State 3/31
UVA 3/1
JMU 3/1
CNU 3/1
Mary Washington 3/1
VCU 3/1
ODU 2/15
Norfolk State 3/12
William and Mary 2/12
If you miss your
school’s priority filing
date, file anyway and
file soon.
This Fall
In the fall, get preliminary results from:
www.fafsa4caster.ed.gov
“I will not file -- we will not get anything”
Choosing to not file the FAFSA will mean that
your school will not consider you for financial
aid – “free money” grants or loans.
What is Financial Need ?
College’s Cost of Attendance
–
Expected Family Contribution
FAFSA calculated
=
Your Financial Need
Your Financial Aid Award Letter
• The school determines your financial aid
award
• The school selects the applicable federal
programs
• The school calculates your potential loan
amounts
• Award letters may also include school
scholarships
Award Letter Example
Cost of Attendance
Family's EFC
Total Need
25356
Each school is
different
6410
FAFSA
18946
Family Need
Award Description
Fall Spring
2009 2010
Plus Loan
3505
3505
7010
Subsidized Stafford Loan
2250
2250
4500
VGAP
3718
3718
7436
Total
9473
9473
18946
Total
One Application, Many Programs
• Federal Pell Grant
• Academic Competitiveness Grant
• National Science and
Mathematics Access to Retain
Talent Grant
• Teacher Education Assistance for
College and Higher Education
Grant
• Federal Supplemental
Educational Opportunity Grant
• Federal Perkins Loan
• Federal Work-Study
• Stafford Loans
• PLUS Loans
• Virginia College Scholarship
Assistance Program
• Virginia Commonwealth Award
• Institutional Aid
Scour the websites of the
schools you are interested in
for financial assistance! Most
have many in addition to the
FAFSA.
Borrowing Money
• Federal loans have fixed interest rates. There is no
shortage of loan money for these loans.
• Repayment usually begins after education is finished.
• FAFSA – required for fixed rate Stafford Loan 6.8%.
Maximum borrowing: 1st year: $5500, 2nd year:
$6500, remaining years $7500
• FAFSA – required for PLUS loan – parent loan of 7.9%
– 8.5%
• Private loans – be aware of associated risks
Community College Transfer Program
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Relatively New Virginia
Program
See website for details
www.vccs.edu/transfer
Example: VA Tech
Engineering guaranteed
admission agreement
$1000 grant upon transfer
(GPA & need requirements),
additional $1000 for STEM
majors
Virginia’s Only Junior College
• Richard Bland
• Tuition and Fees about
$11,600 / year
• The curriculum is intended to
allow students to acquire
junior status after transferring
to a four-year college, or to
pursue expanded career
opportunities.
J. Sergeant Reynolds Scholarships
• Complete the admission
application before 3/31.
• Complete the scholarship
application online by 3/31.
• Minimum 2.0 cumulative G.P.A.
• Scholarship application
requires 4 short personal
statements
Academic Common Market
In-state tuition at out of state schools
available through this multi-state
agreement.
www.schev.edu/students/
academiccommonmkt.asp
Technical School / Apprenticeship
 Free education at the Apprentice School -www.apprenticeschool.com
 Check for school certification
http://www.schev.edu/higherEd/POPE.asp
 Understand costs and programs
 Ask about job placement and follow-up services
 Ask employers their opinion of the school
 Look into local companies on-the-job apprenticeships
On-line apprenticeship resource: www.doli.virginia.gov
Adjusted Gross Income < $40,000
6 All Inclusive
opportunities
in Virginia
• University of Richmond - total family
income is $40,000 or less and
demonstrated eligibility for need-based
aid, aid package equals full tuition,
room and board (without loans).
• College of William & Mary –Gateway
• UVA –UVA Access
• Virginia Tech – Presidential
• James Madison – Centennial
• Virginia Union – Brighter Future
Initiative
Students with Disabilities
• Creating High Expectations College Resources see
www.create.org.vt.edu
• College Bound www.cpe.vt.edu/collegebound
• P.A.V.E. at J Sergeant Reynolds
• Randolph College website (Google Randolph college
students with learning disabilities tips)
• www.going-to-college.org
• Richard Bland resource: Evonda Watts-Martinez, (804)
862-6263, [email protected]
Appeals & Special Circumstances
• Dependency, Cost of Attendance, Financial Aid
Appeal … download college specific form from
college website
• Common reasons: layoff, illness, reduction in
income, documented separation from parents
• College will review special circumstances
– Request additional documentation
– Decisions are final and cannot be appealed to U.S.
Department of Education
VTAG
• Virginia Tuition Assistance GRANT Program
• Applies only to Virginia private schools
• Submit before July 31 … suggest submitting
immediately
• Exact amount will not be released until March
of 2009
• Usually about $ 3,000/year.
Additional School Specific Forms
• Some schools have additional forms. The safest thing
to do is to call your school’s financial aid department
and/or look closely at their website.
• CSS/Financial Aid PROFILE – check your school, some
examples: Hampden-Sydney College, Washington &
Lee, Princeton, Harvard
• School specific form: University of Richmond, Elon
• Ask about due dates. You may lose aid if you miss
due dates.
Military Options
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Corp of Cadets @Virginia Tech
Virginia Institute for Women’s Leadership
@Mary Baldwin
Virginia Military Institute
ROTC -- Apply to school and apply to ROTC online:
example www.armyrotc.com
Military Academies – 4 year education at no cost
Commonwealth Challenge – to obtain GED degree
www.ngcyp.org
Air Force ▪Army Coast Guard ▪National Guard ▪Navy
▪Marines ▪Merchant Marines