Financial aid for college
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Financial Aid for College. Sources of Aid. Government Federal State Institutional Varies by schools Private. Government Aid. Types of aid Grants Federal Student Loans Work-Study Programs Scholarships. Grants. Grants are: “Gift aid”

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Financial Aid for College

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Financial Aid for College


Sources of Aid

  • Government

    • Federal

    • State

  • Institutional

    • Varies by schools

  • Private


Government Aid

  • Types of aid

    • Grants

    • Federal Student Loans

    • Work-Study Programs

    • Scholarships


Grants

Grants are:

  • “Gift aid”

    • Financial aid that does not have to be repaid

  • Often need-based


Types of Grants


Types of Grants


Federal Student Loans


Federal Student Loans


Federal Perkins Loan Program

  • For undergraduate students

  • Demonstrate financial need:

  • Up to $5,500

  • Students enrolled: at least half-time

  • Interest: 5%

  • Enrolled at least part-time

  • Student pays interest

  • Not all schools participate in the Federal Perkins Loan Program

  • Funds depend on student’s financial need and availability of funds at the college


Federal Work-Study

  • Provides part-time jobs for undergraduate with financial need

  • Encourages community service work and work related to the student’s course of study

This program is first come, first serve!


Government Scholarships

  • Scholarships are “gift aid”

  • Government scholarships are available from the state

  • Amount of award varies

  • Type of award

    • One-time

    • Renewable

    • Eligible for the award if you meet the requirements (no need to reapply)se scholarships offer both Merit-Based and Need-Based

  • Types of scholarships

    • Academically talented students

    • Students from minority groups

    • Low-income students

    • students pursuing high-need fields of study (such as STEM fields)


State Scholarships

Find scholarships at:

http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_cd=SGT


Government Aid

  • To qualify for this aid, you must complete the:

    Free Application for Federal Student Aid (FAFSA)


Institutional Aid

  • Provides scholarships

    • Merit-Based

    • Need-Based

  • Varies with each institution

  • Featured program scholarships

SHPE Foundation


Scholarships

  • Types of Scholarships

    • Merit-Based

    • Need-Based

  • Available from

    • Corporations

    • Organizations

    • Non-profits

    • Businesses

  • Specific Scholarships

    • Minority groups

    • Leadership

    • Field of Study

    • Community Service


Private Student Loans

  • Lenders maybe a

    • bank,

    • credit union,

    • state agency, or

    • school

  • Loans should be a last resort as interest payments may be high


Private Student Loans

  • Many require payments be made during school

  • May require established credit score

  • May need a co-signer

  • Interest rate

    • Variable

    • Some greater than 18%

    • Student pays the interest


Helpful Links

  • www.finaid.org

  • www.studentaid.ed.gov

  • studentloans.gov/myDirectLoan/index.action

  • www.collegescholarships.org

SHPE Foundation


Contact Us

Stacie Freasier

Program Manager

[email protected]

703-373-7930 ext. 204

Ariadna Mahon-Santos

Program Coordinator

[email protected]

703-373-7930 ext. 203

SHPE Foundation

1444 Duke St.

Alexandria, VA 22314

Danielle Carneiro

Program Coordinator

[email protected]

703-373-7930 ext. 202


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