Transcript Graduate School Bound Program Module #4 Financial Aid and Test Preparation Presented by: Amanda Carpenter, M.S. Coordinator for Career Development Center & Henry L.

Graduate School Bound
Program
Module #4 Financial Aid and Test Preparation
Presented by:
Amanda Carpenter, M.S.
Coordinator for Career Development Center &
Henry L. “Hank” Lacayo Institute Internship Program
Graduate School Bound
Program Objectives
• To provide undergraduate CI students
with assistance in the exploration and
preparation process for graduate school
through a series of online self-guided
modules
• To connect undergraduate CI students
with the resources provided by Career
Development Services
Module #4 Learning Objectives
1. Identify the basic types of financial aid
offered to graduate students.
2. Outline the purpose of graduate school
admissions examinations.
3. List strategies to prepare for the test
required for graduate school admission.
Agenda
During this module we will be covering the
following topics:
• Financial Aid Process
• Test Preparation
What is Financial Aid?
It’s money for college!
• Financial aid comes in various forms of monetary assistance
including scholarships, grants, work, tuition waivers, loans, and
family contributions.
• The amount you receive in financial aid will depend upon the
financial assistance you need to complete your program.
• Scholarships may be based on grade point average and many other
factors.
• Financial aid is a partnership between you and the college you
attend. The college acts as a flow-through for the funds provided
to you.
• The college you select will provide you with a percentage that
shows the amount of expected personal/family contributions.
• If you receive financial aid, it is expected that you will enroll fulltime in the courses needed to complete your chosen major.
Types of Aid Available
• Need based: Most Federal and State provided aid
are based on student need. Need is determined
by comparing the cost of the student’s education
with his or her financial resources.
• Merit based: Some financial aid is merit based,
meaning you can receive scholarships and grants
on the basis of your academic achievement and
other factors. GPA and GRE are important
factors in qualifying for merit based financial aid.
Additional Types of Aid
• Fellowships and Grants
– Do not require repayment
– Usually cover tuition and some of the student’s living
expenses
– Grants are usually based on student need. Fellowships
are often limited to doctoral and post-doctoral students,
though there are some that specifically target masters’
students in particular fields.
• Fellowships generally are:
– Short-term opportunities lasting from a few months to
several years
– Focus on the professional development of the fellow
– Sponsored by a specific association or organization
seeking to expand leadership in their field
Additional Types of Aid
(continued)
• Fellowship programs can be designed to support a range of
activities including:
– graduate study in a specific field
– research to advance work on a particular issue
– developing a new community-based organization or initiative
– training and reflection to support the fellow's growth
– opportunities to further explore a particular field of work
For more information visit:
www.graduatecenter.com/schools/fellowships.php
Fellowships 101
The Benefits of a Fellowship include:
Experiential Learning
• Fellowships are structured to provide significant work experiences, and
fellows are often expected to take on a great deal of responsibility quickly
• Fellows are provided with unique experiences that are not typically
available to someone starting out in an entry-level position.
Training and Professional Development
• Fellowship programs are known for their commitment to the professional
development of individual fellows and often include intensive training. Key
elements of this training might include:
– academic seminars to develop frameworks and apply theory
– in-depth research and analysis of a particular issue area
– a broad curriculum of skills development: leadership, community
organizing, public speaking, grant writing, media relation
Fellowships 101 (continued)
Compensation
• Compensation is often considered the biggest drawback
of a fellowship. Although most fellowship programs do
provide a living allowance or stipend, it is typically not
comparable to the salary of a full-time job. This financial
compensation varies greatly - stipends can range from
$10,000 to up to $25,000 for a 9-12 month program.
• Other incentives are often provided to fellows such as
healthcare coverage, student loan repayment assistance,
and housing stipends.
Many fellowships at some institutions do not require
work. It may simply be a “fellowship grant” with no strings
attached.
Assistantships 101
• Assistantships are the most prevalent and more desirable forms of
financial aid. You can receive money for working as a graduate assistant
and gain invaluable experience teaching or conducting research in your
field. They require a form of service usually teaching or research.
• A study grant of financial assistance to a graduate student that is offered
in return for certain services in teaching or laboratory supervision as a
teaching assistant, or for services in research as a research assistant.
• In a graduate assistantship program, most assistants are required to
work approximately 20 hours per week. In return, they will receive a
small stipend that generally equates to the pay of an average part-time
job, though this can vary in different universities. Tuition, room, and
board will generally be paid in full, as long as the student maintains a
specific grade point average.
Assistantships 101 (continued)
• When working as a graduate assistant, there are various duties that you
will be expected to perform. These duties are based on the type of
graduate assistantship you have received.
– As a graduate teaching assistant, or TA, you will be required to teach
some low-level classes, grade assignments, and work directly with
students and professors
– As a graduate research assistant, you will be required to perform and
analyze research in a lab under the supervision of a professor
• A graduate assistant works with various members of faculty in the
department, grades assignments, fills in on classes when needed, runs
study groups or lab groups with undergraduate students, and maintains
office hours in which to meet with and assist other students
• Though becoming a graduate assistant is a great deal of work on top of
what is likely an already busy schedule, it is important to remember the
value of the experience you are receiving.
Financial Aid and
Scholarship Search
Scholarship Search Database
There are several free scholarship databases available online. With more
than 1.5 million scholarships worth more than $3.4 billion, the FastWeb
scholarship search is the largest, most accurate and most frequently
updated scholarship database. If you supply an email address, they will
notify you when new awards that match your profile are added to the
database.You can even submit an electronic application to some of the
scholarships listed in the FastWeb scholarship database, saving you time
and money.
Other scholarship search databases are listed below:
• www.fastweb.com
• www.finaid.org/otheraid/#graduate
• www.students.gov
• www.studentsscholarshipsearch.com
• www.scholarships.com
• www.oedb.org/scholarship/graduate-school
• www.graduatecenter.com/schools/scholarships.php
As a prospective student you have the right
to ask a school about the following criteria:
1.
2.
Full cost of attendance and refund policy
Financial assistance available
• What financial assistance is available, including information on all
federal, state, local, private, and school financial aid programs,
including school based scholarships?
3. Procedures and deadlines
• What are the procedures and deadlines for submitting applications
for each of the financial aid programs being considered?
4. Criteria
5. Need calculation
• How is individual financial need determined? How are costs for
tuition and fees, room and board, transportation, books and
supplies, and personal expenses considered in your budget?
(continued)
5.
Academic progress
• How does the school determine whether you are making
satisfactory academic progress? What happens if you are not?
Do you need to maintain a certain grade point average (GPA)
to continue to receive aid?
6. Repayment
• What portion of the financial aid you receive must be repaid,
and what portion is grant aid? If the aid is a loan, you have the
right to know the interest rate, the total amount that must be
repaid, pay back procedures, the length of time you have to
repay the loan, and when repayment is to begin
7. Contact Information
• Who are the school's financial aid personnel? Where are they
located and how can they be contacted for information?
Student’s Responsibilities
1.
2.
3.
Enroll in and maintain the same number of credits/units as stated on
the FAFSA
Maintain satisfactory progress with a minimum overall GPA of a 2.0
(GPA requirement may vary depending on the school you are
attending)
Respond promptly to financial aid requests (not responding on time,
can mean a loss of your financial aid package)
You should also be aware that:
• If you withdraw from school during a quarter or semester, you may
be responsible for repayment of all or a portion of any financial aid
received for that quarter or semester.
• If you withdraw for other than compelling reasons, you may lose your
eligibility for further financial assistance
How to Apply
We will be covering the following topics:
1.
2.
3.
4.
Select Graduate Schools
Contact Admission Offices
Complete FAFSA- meet priority deadlines
Scholarship and Grant Search
How to Apply: Steps 1-12
STEP 1
• Select colleges that will fulfill your educational and career goals
• If you are uncertain about the college you wish to attend, refer
to www.eureka.org or www.myplan.com
• Know the financial aid application procedures and deadlines for
each school to which you are applying (These requirements may
vary)
STEP 2
• Write, call or email the Admissions Office of each college on
your list
• Ask about financial aid possibilities and application procedures,
which forms to use, deadlines, and their school code.
• Students and parents can learn more about financial aid sources
and procedures at these workshops. You may also visit the
FAFSA website, at www.fafsa.ed.gov for more information.
How to Apply (continued)
STEP 3
• Financial Aid requires students to be either a U.S. citizen or an eligible
non-resident and to have a Social Security Number. Go to www.ssa.gov to
learn more about how to get a Social Security Number.
• In addition, if you are a male between the ages of 18-24, and not a current
member of the active armed forces, you must register with the Selective
Service. For more information go to www.sss.gov
STEP 4
• For those who apply online, you need to request a Personal Identification
Number (PIN) for yourself and your parents or guardians. You may get
your PIN number at, www.pin.ed.gov/PINWebApp/pinindex.jsp
• When you receive your PIN, you agree to not disclose or share your PIN
with anyone.Your PIN serves as your electronic signature and provides
access to your personal records.
• Keep your PIN in a safe place. You can use the same PIN in the future to
apply electronically for student aid and to access your U.S. Department of
Education records.
How to Apply (continued)
STEP 5
• Obtain a copy of the Free Application for Federal Student Aid (FAFSA) form.
The FAFSA comes in two versions, paper and electronic.
• You may get a hard copy from the Financial Aid Office at your college
• If you have access to a computer, you can download the forms or apply
directly online at www.fafsa.ed.gov
STEP 6
• Fill out the financial aid forms accurately and completely. Always use your full
legal name and Social Security number.
• List the schools you wish to attend. Do not send tax forms with the
application. If you estimate the financial information you report, you will have
to prove the accuracy of your estimate before you are awarded aid.
• After submitting your FAFSA application, you will receive a form from the
Department of Education. The form is called the Student Aid Report (SAR),
and contains the data you entered on your FAFSA application.
• Review the SAR carefully for errors (the form will highlight items that did not
pass the edit) and follow directions for making and submitting corrections.
How to Apply (continued)
STEP 7
• Some schools may request additional information from you, such as
copies of federal tax returns.
• Learn what each school requires and provide the information by the
deadlines. Each school that you applied to may offer you financial aid.
They will also explain how much in money in grants, loans, scholarships,
or work-study they can offer you.
• You need to submit in writing whether or not you accept their financial
aid packages.
STEP 8
• Keep in mind the priority filing date for the school you plan to attend.
• All students whose applications are received by the priority filing date
will be notified about their applications prior to the beginning of the
academic year.
• Late applications will be processed subject to the availability of funds.
How to Apply (continued)
STEP 9
• Begin searching for scholarships and grants
• Use the scholarships links in this guide for other local,
college based, regional, and national listings in your
scholarship search.
STEP 10
• If you have specific questions concerning the status of your
application, contact the Financial Aid Office at the college,
university, or vocational school you plan to attend. Use
your complete legal name and your Social Security number
on all correspondence.
How to Apply (continued)
STEP 11
• Aid awarded for the academic year must be used during fall,
winter, and spring terms.
• Aid may also be available for the summer term. Ask your aid
officer well in advance of summer enrollment if summer aid is
available at your college. Some may have a separate summer
application process.
STEP 12
• Each January if you are planning to be in school the next
academic year, you must apply for financial aid again.
• Be sure to re-establish your PIN number if you are doing it
online. (This is important for security purposes)
For more information about student
loans please go to the link listed below:
http://www.graduatecenter.com/financialservices/graduate-school-financial-aid.php
What is the GRE?
• Verbal Reasoning
– In a nutshell, can you read? Can you identify complex
relationships between words and concepts? Do you understand
the different parts of a sentence? Can you put together an answer
from a passage you’ve dissected?
For more information you may go to:
http://testprep.about.com/od/thegretest/a/GRE_Verbal.htm
• Quantitative Reasoning
– In a nutshell, how is your algebra? Geometry? Arithmetic?
Quantitative reasoning? If your skills are a little rusty since
Algebra 101 in undergrad, you better brush up!
For more information you may go to:
http://testprep.about.com/od/thegretest/a/GRE_Quantitativ.htm
What is the GRE? (continued)
• Analytical Writing
– In a nutshell, how good are you at explaining what you
mean? Can you clearly support your ideas with evidence,
reasons, and examples? Can you creatively focus your ideas
into a well-organized, carefully-spelled, and grammatically
correct composition? This section accounts for one hour
and fifteen minutes of the test, so you should prepare
yourself accordingly.
For more information you may go to:
http://testprep.about.com/od/thegretest/a/GRE_Writing.htm
How to Prepare for the GRE
ETS, the makers of the GRE, offer free test preparation materials to anyone
who registers for the GRE. To access these materials go to,
http://www.ets.org/
You can also try these options:
• GRE Diagnostic Service
– For the cost of a meal at Applebee’s (fifteen bucks), you can have ETS
diagnose your strengths and weaknesses on a practice GRE. They will
also compare your score to that of your peers.
• Tutors
– Kaplan offers an array of tutoring services. Try posting on Craig’s List
for a tutor. Many teachers or professors are willing to tutor on the
side for nominal fees.
How to Prepare (continued)
• Books
– If you browse through the aisles of your local bookstores,
you’ll be sure to find a test preparation booklet. For a cheaper
approach, get the latest version on eBay or Amazon. Many
wholesalers will give you big discounts on overstocked items.
For more information on how to find a tutor visit:
http://testprep.about.com/od/besttestprepresources/tp/Tutors.htm
For more information on Kaplan you may go to:
http://www.kaptest.com/enroll/GRE/34638/comprehensive
Additional Test Preparation
Services
•
•
•
•
www.princetonreview.com
www.gre.org
www.kaptest.com
www.youtube.com
Questions on this Module?
Preparing for graduate school is a multi-staged
process.
Visit Career Development Services during Drop-In
Career Counseling to get your questions answered.
Every Thursday 9:30 a.m. to 12:30 p.m.
Career Development Center
Bell Tower 1548
[email protected]
(805) 437-3270