Transcript [Business Communication]

Paying for College:
Financial Aid & Scholarships
AHETEMS Foundation
How much will my education cost?
Average Costs per Academic Year
• $14,000 for a Technical/Trade School
• $14,000 for 2-year Public
• $19,000 for 4-year Public In-State
• $31,000 for 4-year Public Out-of-State
• $35,000 for 4-year Private School
collegeboard.com
Cost Breakdown
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Tuition & fees
Room & board
Books & supplies
Personal expenses
Transportation
Costs in Texas
Southwest Texas
Junior College
2 Yr Public
In-state
Tuition & fees
$2,081
Room & board
$3,600
Est. Personal
$745
Transportation
$710
Total $7,136
Univ. of Texas
Univ. of Texas
Rice University
4 Yr Public
In-state
Tuition & fees
$9,418
Room & board
$10,112
Est. Personal
$2,472
Transportation
________$1,010
Total $23,012
4 Yr Public
Out-of-state
Tuition & fees
$31,218
Room & board
$10,112
Est. Personal
$2,472
Transportation
$1,010
Total $44,812
4 Yr Private
Tuition & fees
$33,771
Room & board
$11,750
Est. Personal
$1,550
Books & supplies
$800
Total $47,871
Sources of Aid
Government
Federal
& State
Institutional
Private
(Varies by
School)
Agencies
Access to Financial Aid
FAFSA
• Free Application for Federal Student Aid
• Used by federal government, state agencies, colleges, and
some scholarship agencies to determine how much and what
kind of aid you are eligible to receive.
• A snap shot of your finances
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You and your parent’s income
Savings and Investments
Benefits
State Tax Rates
Who can apply for FAFSA?
• Have a high school diploma or a General Education
Development (GED) certificate
• Are working toward a degree or certificate in an eligible
program
• Are a U.S. citizen, U.S. Permanent Resident with an
Alien Registration Card, or an eligible non-citizen
(refugee, asylum granted)
• Have a valid Social Security Number
• Some states offer their own financial aid applications for
students who do not meet these qualifications
FAFSA Process
• Complete online at www.fafsa.ed.gov
• Online FAFSA is processed in a few days versus a
paper FAFSA that can take a few weeks
• Get a PIN number online www.pin.ed.gov
• A new FAFSA application must be submitted for each
academic year
• One application per student, not per family
• Check your college’s Priority Dates to get the best aid
Student Aid Report (SAR)
• Report that results from
your FAFSA
– Sent to students by mail or
email
– Retain for personal records
• The SAR will include the
Expected Family
Contribution (EFC)
– This information will be
shared with your college
Additional Requirements
• You may be asked to provide additional documents
by your college/university.
• Each college has its own financial aid deadline.
• Always contact the Financial Aid Office or your
financial aid representatives at your college for
assistance.
How Financial Aid is Determined
• COA: Total Cost of Attendance for one academic year
at the student’s institution (varies by school)
• EFC: Expected Family Contribution – the amount is
determined on your FAFSA
COA – EFC = Need*
*This amount will vary at each school
Types of Financial Aid
• Based on the Need, a student will receive a Financial Aid
Package consisting of different forms of assistance
Gift (Free) Aid
– Grants
– Scholarships
Self-Help Aid
– Work Study
– Loans
Example: Financial Aid
COA – EFC = Need
$14,000 - $5,000 = $9,000 Need
Sample Financial Aid Package
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Institution scholarship
State grant
Work study
Federal Loan
Total:
$1,500
$3,500
$2,500
$1,500
$9,000
• Students DO NOT have to accept the entire financial aid
package. They can select the types of aid they want and seek
additional funding elsewhere.
Other Sources of Aid
Government
Federal
& State
Institutional
Private
(Varies by
School)
Agencies
Scholarships
• Awarded based on merit, financial need, community
service, academic achievements, etc.
• Sources
– Non-Profits: AHETEMS, HCF, HSF, UNCFSP
– Companies: Target, Southwest
– Colleges/Universities
Starting the Search
• Research for which scholarships you are eligible
– It is never too early to start searching for scholarships
– Avoid organizations that charge fees for scholarship
searches or that guarantee a scholarship = SCAMS
• Keep a calendar of deadlines
– Received vs. Postmarked
• Keep a notebook with contacts, requirements and
instructions for each scholarship for which you will
apply
Be Prepared
• Choose very carefully who will write a letter of
recommendation for you
• Write an essay that details yourself - achievements,
strengths, goals, and how you plan to reach them
• Create and constantly update your resume
• Request updated transcripts with enough time to
mail them out
• Keep an updated photograph that shows your
maturity, some scholarships request a photo to print
in award programs
Scholarship Selection Process
• Late or incomplete applications are eliminated
• Ineligible applications are eliminated
• Selection Method
– Essay, letter of recommendation and resume reviewed
– Examples of leadership, responsibility, focus, and
motivation to succeed despite challenges are looked for in
the essay
AHETEMS Scholarships
General Scholarships
• Type: Merit- and Need-Based Scholarships
• Amount: $1,000 - $3,000
• Who Can Apply: High School Seniors, Undergraduates, Graduate
students, and SHPE Professionals
• Major: Science, Technology, Engineering, or Math (STEM fields)
• Deadline: April 1
• www.ahetems.org
* Goes directly to the student not the university
Academic Excellence & Leadership Award
• Open to rising Hispanic high school seniors (i.e. current
juniors)
• Awarded to students with strong involvement in the Latino
community as leaders and strong academic records
• Nomination from teacher, coach, advisor
• Scholarship of $2,500 plus registration, lodging and travel to
attend the AHETEMS Pre-College Symposia to receive award
• Deadline: August of 2011
• Visit www.ahetems.org
Navy ROTC Scholarship
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Provides $180,000 to pay for your entire college education
Monthly stipend from $250 - $400 and $375 each semester
Upon graduation, you are guaranteed a salaried position with the U.S. Navy as a
commissioned Navy Ensigns or Second Lieutenant
Required to provide a minimum of four years service commitment to the U.S. Navy
ELIGIBILITY
– U.S. citizen or naturalized citizen
– 17 years old by September 1 of freshman year in college
– No older than 23 years old by June 30
– Graduate from high school by August 1 of the year of application
– SAT/ACT Minimum Scores:
• SAT: 530 Critical Reading (CR) 520 Math
• ACT: 22 English 21 Math
– Apply and be accepted to an NROTC host college/university (If previously
enrolled in college, may have a maximum of 30 semester credit hours)
DEADLINE - The deadline to apply is in January.
AHETEMS Deadlines
• Jan 31
Navy ROTC Scholarship
• April 1
AHETEMS Scholarships
• August
Academic Excellence and
Leadership Award
Additional Resources
hispanicfund.org
hispanicheritage.org
thesalliemaefund.org/smfnew/
hispa.org
scholarshipsforhispanics.org
latinoCollegeDollars.org
maldef.org (Esp. for non-US citizens)
fastweb. org
hsf.net
engineering.cornell.edu/catalyst/
Questions?
AHETEMS
Advancing Hispanic Excellence in Technology,
Engineering, Math and Science
UT Arlington, Box 19019
Nedderman Hall, 416 Yates St.
Arlington, TX 76019
1444 Duke St.
Alexandria, VA 22314