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

Financial Aid for College


Sources of aid

Sources of Aid

  • Government

    • Federal

    • State

  • Institutional

    • Varies by schools

  • Private


Government aid

Government Aid

  • Types of aid

    • Grants

    • Federal Student Loans

    • Work-Study Programs

    • Scholarships


Grants

Grants

Grants are:

  • “Gift aid”

    • Financial aid that does not have to be repaid

  • Often need-based


Types of grants

Types of Grants


Types of grants1

Types of Grants


Federal student loans

Federal Student Loans


Federal student loans1

Federal Student Loans


Federal perkins loan program

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

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

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

State Scholarships

Find scholarships at:

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


Government aid1

Government Aid

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

    Free Application for Federal Student Aid (FAFSA)


Institutional aid

Institutional Aid

  • Provides scholarships

    • Merit-Based

    • Need-Based

  • Varies with each institution

  • Featured program scholarships

SHPE Foundation


Scholarships

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

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 loans1

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

Helpful Links

  • www.finaid.org

  • www.studentaid.ed.gov

  • studentloans.gov/myDirectLoan/index.action

  • www.collegescholarships.org

SHPE Foundation


Financial aid for college

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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