Transcript FINANCIAL AID PRESENTATION WVDE FALL REGIONAL WORKSHOPS David R. Tyson, Chair Brian Noland, Chancellor.

FINANCIAL AID PRESENTATION
WVDE FALL REGIONAL
WORKSHOPS
David R. Tyson, Chair
Brian Noland, Chancellor
What is Student Financial Assistance?
•Scholarships
•Grants
•Loans
•Employment
2
West Virginia Higher Education Policy Commission
2
Primary Sources of Student
Financial Assistance
•Institutional
•Private
•State
•Federal
3
West Virginia Higher Education Policy Commission
3
Two Primary Categories of Aid
•Merit-Based Aid
•Need-Based Aid
–Types of Need-Based Aid
–Gift Aid
–Self-Help Aid
4
West Virginia Higher Education Policy Commission
4
Free Application for
Federal Student Aid (FAFSA)
• Family and financial information required to perform need
analysis is collected on the FAFSA
• Paper version will be available to students by calling 800-4-FEDAID
• PDF version of the FAFSA can be downloaded at
www.FederalStudentAid.ed.gov
• Electronic version of the FAFSA
• FAFSA on the web, www.fafsa.ed.gov
• Student and parent should apply for a Personal Identification
Number (PIN) at www.pin.ed.gov for use as an electronic
signature for FAFSA on the web
5
West Virginia Higher Education Policy Commission
5
State Financial Assistance
• PROMISE Scholarship
• WV Higher Education Grant Program
• Engineering, Science and Technology Scholarship
• Underwood-Smith Teacher Scholarship
• Robert C. Byrd Honors Scholarship
• Higher Education Adult Part-Time Student (HEAPS)
Grant
6
West Virginia Higher Education Policy Commission
6
PROMISE Scholarship
• Merit-based scholarship
• Pays tuition and mandatory fees at public institutions
and an equivalent amount at private schools
• FAFSA required for all first-year applicants, March 1
federal processor receipt deadline
• State-Level Application required by March 1 for all
first-year applicants – www.wvapply.com
7
West Virginia Higher Education Policy Commission
7
2009 High School Graduates
Academic Eligibility Standards
• 3.0 overall and core high school grade point
average
• 22 ACT composite with a minimum score of 20 in
each of the four test subsets
• 1020 SAT combined score with a minimum score
of 490 in critical reading and 480 in math
8
West Virginia Higher Education Policy Commission
8
PROMISE Core Courses
9
West Virginia Higher Education Policy Commission
9
PROMISE Core Courses
10
West Virginia Higher Education Policy Commission
10
WV Higher Education Grant
• Need-based grant
• FAFSA required for all applicants, March 1 priority
application date
• State-Level Application required by March 1 for all
first-year applicants – www.wvapply.com
11
West Virginia Higher Education Policy Commission
Higher Education Grant Award Levels
2008-09 Academic Year
2008-09 Expected Family
Contribution
Maximum Higher Education Grant
Award
$0 – $4,041
$3,000
$4,042 - $4,500
$2,800
$4,501 - $5,000
$2,300
$5,001 - $5,500
$1,800
All Other Eligible Students
$1,300
12
West Virginia Higher Education Policy Commission
12
Engineering, Science and
Technology Scholarship
• Merit-based scholarship/forgivable loan
• March 1 application deadline
• 3.0 overall GPA
• Enrolled or accepted for enrollment full-time in an
engineering, science or technology program (4-yr, 2-yr
or certificate)
• Maximum annual award amount is $3,000
13
West Virginia Higher Education Policy Commission
13
Underwood-Smith Teacher Scholarship
• Merit-based scholarship/forgivable loan
• March 1 application deadline
• Must be enrolled as a full-time student in a course
leading to certification as a teacher at the pre-K,
elementary, middle or secondary level
• Must have a 3.25 GPA after completing 2 years of
course work (due to limited funding, high school
applicants are not eligible)
• Maximum annual award amount is $5,000
14
West Virginia Higher Education Policy Commission
14
Robert C. Byrd Honors Scholarship
• Merit-based scholarship
• Must be nominated by high school counselor or
principal, limited applications accepted per high school
• 2008-2009 average GPA for new recipients was 3.98 and
the average ACT was a 33 composite
• Maximum annual award amount is $1,500
15
West Virginia Higher Education Policy Commission
15
Higher Education Adult Part-Time
Student (HEAPS) Grant
• Need-based grant
• Decentralized administration
• Part-time enrollment only
• FAFSA required, but application deadlines will vary
among institutions
• Maximum award cannot exceed part-time tuition and fee
charges
16
West Virginia Higher Education Policy Commission
16
School Counselor Resources
• Higher Education Policy Commission Admission and Financial
Aid Workshops
• Printed and electronic information
• Higher Education Policy Commission Financial Aid Data
Exchange (FADE) Website
17
West Virginia Higher Education Policy Commission
17
18
18
Expanded Outreach
19
West Virginia Higher Education Policy Commission
19
College Foundation of West Virginia
• A web portal designed to assist students and families address:
• Affordability
•Link students with federal, state and local financial aid
resources
• Availability
•Link students with matching assistance to help them more
easily discern which campuses best meet their needs and
interests
20
West Virginia Higher Education Policy Commission
20
College Foundation of West Virginia
• Preparation
•Provide a planning and tracking tool that will allow
students to develop a college going timeline and monitoring
progress
•Providing a test preparation module which will allow
students to prepare for college entrance examinations
• Aspirations
•Reaching out through an access campaign to families so
they better understand the post-secondary resources
available to them
21
West Virginia Higher Education Policy Commission
21
College Foundation of West Virginia
• Application Processes
•Streamlining the admission and financial aid application
procedures
22
West Virginia Higher Education Policy Commission
22
Contact Information
Jack Toney
Director, State Financial Aid Programs
WV Higher Education Policy Commission
1018 Kanawha Boulevard, East
Charleston, West Virginia 25301
[email protected]
304-558-4417 or 877-987-7664
23
West Virginia Higher Education Policy Commission
23
ATTACHMENTS
NASFAA FORMS
• Financial Aid Application Checklist (2 pages)
• Application Form Tracking Worksheet
• Financial Aid Consultants and Scholarship
Search Services Fact Sheet (3 pages)
• Sample Scholarship Inquiry Letter
24
West Virginia Higher Education Policy Commission
24
ATTACHMENTS
NASFAA Student Aid Program
Summary
(Dollar amounts in handout are from the 20082009 school year. Updated information will
be available in early December 2008.)
25
West Virginia Higher Education Policy Commission
25