Download FEDERAL FINANCIAL AID - Stroud Public Schools

WHAT IS FINANCIAL AID?
• Assistance to help families pay for
college
• Intended to assist not replace family
contribution
ESTIMATED EXPENSES FOR
ONE YEAR OF COLLEGE
Budget item
Average annual range
Tuition & Fees
$3,179 -
Room & Board
$ 4,582 - 7,145
Books & Supplies
$ 1,155 - 1,650
Academic service fees
$
Total
$ 9,013 – 17,098
97 -
7,391
912
SOURCES OF FINANCIAL AID
• Federal - FAFSA forms should be filled out in
January as soon as taxes are completed
• Institutional
– Loans
– Scholarships
– Fee Waivers
• State
– Oklahoma’s Promise- Students must sign up 8th
– 10th grade
They are off to College How am I
going to pay for it????
FEDERAL FINANCIAL AID
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Federal Pell Grants
Stafford Loans
PLUS Loans
Federal Work Study
Federal Perkins Loans
FAFSA - FEDERAL AID
• The Government puts together a “Financial
Package” individualized for your family
based on your tax returns and the college of
your choice. You will have an EFC amount
(Estimated Family Contribution)
• File your taxes as soon as possible and then
complete the FAFSA form. (Shoot for
January- the sooner the better!)
3 TYPES OF FINANICAL AID
• LOANS – ANYTHING YOU BORROW
MUST BE PAID BACK
• GRANTS – FUNDING FROM
GOVERNMENT, DO NOT HAVE TO
PAY IT BACK
• SCHOLARSHIPS – ACADEMICS &
ESSAYS – DO NOT HAVE TO PAY
BACK
MONEY YOU DO NOT HAVE
TO PAY BACK
• Gift Assistance
• Scholarships
– State
– Institutional
– Private
• Grants
– Institutional
– State
• OTAG
– Federal
• Pell
Scholarships
• Find scholarships through:
– Counselor
– Fastweb.com and scholarships.com
– Universities
– Parent’s work
– Foundations
– Companies
WWW.STROUD.K12.OK.US
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HIGH SCHOOL
COUNSELOR
MONEY FOR COLLEGE
ALL LOCAL SCHOLARSHIPS AR
LISTED HERE
• RESOURCES & LINKS TO OTHER
SCHOLARSHIPS
SENIORS CREATE YOUR
RESUMES
• CREATE A RESUME TO USE FOR
SCHOLARSHIPS AND EMPLOYMENT
How do I win Scholarships?
• Apply on time
• Apply for as many as you can
• Include volunteer service as
well as your academic
accomplishments.
• Do the Essay Scholarships!!!
LOANS
• LOANS
– Subsidized - The interest is paid by the federal
government while the student is in school. You
qualify for this based on your FAFSA
application.
– PERKINS LOANS- Government pays interest
on these while you are in school.
– Unsubsidized –All students can qualify. Interest
accrues the entire time the student is attending
college. Pay it back while you are in school
STUDENT SELF - HELP
• Employment
– Federal work study through FAFSA
– Institutional opportunities
Tribal Assistance
• Contact the individual Tribe to
apply for scholarships that may
be available.
TIPS FOR OBTAINING
FINANCIAL AID
• Research Options
– Apply for multiple funding sources
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Apply Early
File Taxes Early
File FAFSA Early
Apply for scholarships and grants
INTERNET SITES TO
RESEARCH
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COLLEGEBOARD.ORG
FASTWEB.COM
ACT.ORG
SCHOLARSHIPS.COM
FINAID.ORG
FAFSA.ED.GOV