Transcript Preparing for college - Welcome to SHPE Foundation

Noche de Ciencias Parent Workshops
Raul Hinojosa
Hinojosa Consulting Services
October 1, 2014
Helping Your Child On Their Journey to College
Agenda
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Discussion: Why do you want your child to go to college?
Benefits of college education
Higher education options
Getting into college
Understanding admissions exams
Paying for college
College resources
Why do you want your child to go to
college?
Benefits of a college education
• To broaden perspectives
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Meet new people from diverse backgrounds.
Learn to be independent.
Explore new fields and views.
• To gain more knowledge that will be helpful throughout
students’ lives
• To have more job opportunities
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More and more jobs require education beyond high school. Many
jobs rely on new technology and “brainpower.”
Earning potential
• A 4-year college
graduate (with bachelor’s
degree) earns almost $1
million more over his/her
lifetime than a high
school graduate.
- Source: U.S. Census Bureau
Why STEM careers?
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STEM (Science Technology Engineering and Math) Pays More
STEM careers are always in high demand
STEM careers are growing
STEM college internships pay very well
Student loans are easier to pay with STEM degrees
Engineering is a professional degree
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Do not NEED MS/PhD to reach fullest career potential
Many Executives at STEM based industries have only a Bachelor of Science
(BS – 4 year degree) in Engineering
Where Can You Use STEM education?
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Naval Sea Systems Command
Naval Sea Systems Command designs, builds, delivers and maintains ships and
systems on time and on cost for the U.S. Navy.
• A diverse organization with a single purpose of keeping America’s Navy #1
in the world
• A world-class employer of choice that inspires innovation
• Set the standard for Naval engineering, shipbuilding and ship maintenance
• Support humanitarian efforts world-wide
• Recruits and trains men and women to serve as civilians (engineers,
scientists, accountants, doctors, nurses, lawyers, etc.) to support the Navy
and Marine Corps operating forces.
Higher education options
Type of institution
Degrees offered
Examples
Community colleges
Associates degree
Certificates
Mountain View College
Palo Alto College
Technical colleges
Associates degree
Certificates
ITT Technical Institute
Texas State Technical College
Public universities
Bachelor’s degree
Master’s degree
Doctoral degree
University of California at Los Angeles
University of Texas at Austin
Florida State University
Private universities
Bachelor’s degree
Master’s degree
Doctoral degree
Stanford University
Notre Dame University
Harvard University
Health-related and
professional institutions
Professional degrees
(law and medicine)
John Hopkins University
Getting into college
• Every university has different admissions requirements.
• Common admissions requirements include
o Grades
o Grade point average (GPA)
o Courses taken
o Class rank
o Admissions exams (i.e. ACT/SAT)
o Extracurricular activities, leadership
o Community service
o Employment
o College essays and interviews
Know your high school graduation plan
Students should discuss their college plans with their high
school counselor as early as possible to make sure their
graduation plan meets the minimum university
requirements.
TIP: Community colleges offer automatic admission to
students who graduate from high school.
College admissions exams
• College admissions exams are commonly used to determine college
admissions and for scholarship review.
• Students should begin taking the SAT and/or ACT exam during the
spring of their junior year.
• Students may take these exams multiple times to raise their scores.
• Fee waivers may be available from the student’s school counselor.
Comparing the SAT and ACT exams
SAT Exam
ACT Exam
Three sections: Critical Reading, Math, and
Writing
Five sections: English, Math Reading, Science,
and Writing (optional)
Reasoning exam
Content-based exam
Offered 7 times per year
Offered 6 times per year
Timed test (3 hours, 45 minutes)
Times test (3 hours or 3 ½ hours with writing)
Maximum score of 800 per section (total 2400)
Maximum score of 36 per section
Students penalized for wrong answers, guessing Students receive credit only for right answers
discouraged
Cost is $52.50
Cost is $38 or $54.50 with optional writing
section
Register at sat.collegeboard.org
Register at www.actstudent.org
How much does college cost?
• There are five main college cost categories
o Tuition and fees
o Room and board
o Books and supplies
o Personal expenses
o Transportation
• There is often a big difference between the published sticker price and the net
price paid by students.
• Net price is a college’s total cost minus financial aid received.
How much is tuition?
Type of college
Public Two-Year College (in-state
students)
Public Four-Year University (in-state
students)
Public Four-Year University (out-ofstate students)
Private Four-Year University
Source: The College Board (bigfuture.collegeboard.org)
Average Published Yearly
Tuition and Fees
$3,131
$8,655
$21,706
$29,056
Using Financial Aid
• Four types of financial aid available to students
• Grants are free money for students based on financial need
• Loans are money that must be paid back
• Work study requires students to work part-time
• Scholarships are free money for students based on academic merit
Applying for financial aid
• Students must apply for financial aid after January 1st of
their senior year of high school.
• Parents must prepare their tax returns early to ease the
submission of their financial aid application.
• Financial aid deadlines vary by college. Students should
inquire at their college for priority and final deadline dates.
Applying for financial aid
• U.S. Citizens, Permanent Residents and certain eligible non-citizens
must complete the Free Application for Federal Student Aid
(FAFSA).
Apply online at www.FAFSA.gov
• Some states provide limited financial aid for undocumented
students. Students should inquire with the Financial Aid Office at
their college to determine eligibility and application requirements.
Applying for scholarships
• Scholarships are offered by
o Universities and colleges
o Corporations, businesses, private organizations
o Non-profit organizations and foundations
• Deadlines and application requirements vary by scholarship.
• The peak period to apply for scholarships is November to March of your child’s
senior year.
• Students should speak to their counselor to learn more about scholarship resources.
Where can you get help?
• College resources in English and Spanish are available in
many communities and include
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High school counselors and teachers
College outreach offices
Admissions offices
Online resources (i.e. CollegeBoard.org, Princeton Review,
FinAid.org)
Professional organizations (i.e. SHPE Foundation, National
Society of Hispanic MBAs)
Thank you for attending.
QUESTIONS OR COMMENTS
Paying for College:
Financial Aid & Scholarships
Why Major in Science and Engineering?
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STEM (Science Technology Engineering and Math) Pays More
STEM careers are always in high demand
STEM careers are growing
STEM college internships pay very well
Student loans are easier to pay with STEM degrees
Engineering is a professional degree
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Do not NEED MS/PhD to reach fullest career potential
Many Executives at STEM based industries have only a Bachelor of Science (BS – 4 year
degree) in Engineering
Top 10 Paying 4-year degrees?
4 Year Degree
Starting Median Pay
Mid-Career Median Pay
1.
Petroleum Engineering
$97,900
$155,000
2.
Chemical Engineering
$64,500
$109,000
3.
Electrical Engineering (EE)
$61,300
$103,000
4.
Materials Science & Engineering
$60,400
$103,000
5.
Aerospace Engineering
$60,700
$102,000
6.
Computer Engineering (CE)
$61,800
$101,000
7.
Physics
$49,800
$101,000
8.
Applied Mathematics
$52,600
$98,600
9.
Computer Science (CS)
$56,600
$97,900
10.
Nuclear Engineering
$65,100
$97,800
*Data from Payscale.com employee surveys
What About the Rest?
• Top 20 paying careers are Engineering or Science
• Top 39/50 careers require advanced Mathematics (at least some calculus)
*Data from Payscale.com employee surveys
How much will my education cost?
Average Costs per Academic Year Regardless of Major
• $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
*Data from www.collegeboard.com
Cost Breakdown
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Tuition & fees
Room & board
Books & supplies
Personal expenses
Transportation
Costs in Texas
Southwest Texas
Junior College
Univ. of Texas
4 Yr Public
In-state
Tuition & fees
2 Yr Public
In-state
Tuition & fees
$9,418
$2,081
Room & board
Room & board
$10,112
$3,600
Est. Personal
Est. Personal
$745
$2,472
Transportation
________$1,010
$710
Total $23,012
Total $7,136
Transportation
Univ. of Texas
Rice University
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
Post-College Debt
• Is not dependent on degree program at most public universities
• Private schools typically require more borrowing
• More Science and Engineering degrees are available at 4-Year Public schools
than any other type
Institution Level & Control
Percent Borrowing
Cumulative Debt
4-year Total
66.5%
$22,656
4-year Public
61.1%
$19,839
4-year Private Non-Profit
70.6%
$27,349
4-year Private For-Profit
97.0%
$24,635
*Data from finaid.org/loans
Science & Engineering = Manageable Debt
• Assume average post-college debt: $22,656
• Assume 7% interest for 10 years => $3156/year
• Assume 40% of pay towards taxes and retirement
Degree
Start pay
Take-Home
Pay
% pay toward
debt
Mid-Career
Pay
Mid-Career
Take Home
Pay
% pay toward
debt
Mechanical
Engineering
$58,400
$35,040
9.0%
$94,500
$56,700
5.5%
Computer Science
$56,600
$33,960
9.2%
$97,900
$58,740
5.3%
Liberal Arts
$37,800
$22,680
13.9%
$63,200
$37,920
8.3%
Humanities
$34,900
$20,900
15.1%
$57,800
$34,600
9.1%
*Data from finaid.org/loans
Sources of Aid
Government
Institutional
Private
Federal
& State
(Varies by
School)
Agencies
Access to Financial Aid
FAFSA
• Free Application for Federal Student Aid (FAFSA)
• 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 snapshot of your finances
 Student and Parent Income
 Savings and Investments
 Benefits
 State Tax Rates
FAFSA Eligibility
• 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.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
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Sent to students by email
Retain for personal records
• The SAR will include the Expected
Family Contribution (EFC)
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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
─ Institution scholarship $1,500
─ State grant
$3,500
─ Work study
$2,500
─ Federal Loan
$1,500
Total: $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
Institutional
Private
Federal
& State
(Varies by
School)
Agencies
Scholarships
• Awarded based on merit, financial need, community service, academic
achievements, etc.
• Sources
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Non-Profits:
 Society of Hispanic Professional Engineers Foundation
 Hispanic College Fund
 Hispanic Scholarship Fund
Companies: Target, Southwest
Colleges/Universities
Starting the Search
• Research for which scholarships you are eligible
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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
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Received vs. Postmarked
• Keep a notebook with contacts, requirements and instructions for each
scholarship for which you will apply
Be Prepared, Students Should…
• Choose very carefully who will write a letter of recommendation for
them
• Write a detailed essay - achievements, strengths, goals, and how
student plans to reach the goals
• Create and constantly update resume
• Request updated transcripts with enough time to mail out
• Keep an updated photograph that shows professionalism; 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
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Essay, letter of recommendation and resume reviewed
Examples of leadership, responsibility, focus, and motivation to succeed despite
challenges are looked for in the essay
SHPE Foundation Scholarships
General Scholarships
Type: Merit-Based and Need-Based Scholarships
Amount: $1,000 - $3,000
Who Can Apply: SHPE Members: High School Seniors, Undergraduates, Graduate students,
and Professionals
Major: Science, Technology, Engineering, or Math (STEM fields)
Deadline: May 1, 2015 (postmarked)
www.shpefoundation.org
* Goes directly to the student not the university
Navy ROTC Scholarship
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Provides 4-Year Scholarships at selected colleges and universities
Full tuition and mandatory fees
Monthly stipend from $250 -400 and $750 for text books each academic year
On graduation, two- and four-year College Program midshipmen may be commissioned ensigns in the Naval
Service or second lieutenants in the Marine Corps
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: January 31, 2015
Additional Resources
Hispanic College Fund
Hispanic Heritage Foundation
hispanicfund.org
hispanicheritage.org
Hispanics Inspiring Students’ Performance and Achievement
hispa.org
Hispanic Scholarship Fund
hsf.net
MALDEF (Especially for non-US citizens)
Scholarships For Hispanics
maldef.org
scholarshipsforhispanics.org
The Sallie Mae Fund
thesalliemaefund.org
Career One Stop (Department of Labor)
careerinfonet.org/scholarshipsearch
Questions?