Scholarships Financial Aid Fundamentals
SCHOLARSHIPSMust COMPLETE FAFSA FREE money for education! You don’t have to pay it back!
‒ Families can apply starting October 1 for the 2019/2020 Academic Year • Once the FAFSA is completed the U.S. Department of Education will send the student a Student Aid Report (SAR) • The SAR summarizes the data from the FAFSA and indicates the Expected Family Contribution (EFC) • To determine the financial aid award, a school subtracts the EFC from the cost of attendance (COA) to determine the student’s financial need • The financial aid award takes into consideration a number of factors including cost of attendance, family income, family size, number of family members in college • Please note that some schools also require filing of the College Board PROFILE (www.collegeboard.com/profile)
Types of Scholarships & Estimated Family Contribution (EFC) Need-Based Merit-Based Primarily offered as a reward for achievement or ability and includes Academic/Achievement Athletic Musical & Artistic • Based primarily on the family’s ability to pay (until age 24) • Tied to EFC number • Always check scholarships to see if there is a need-based component to apply
CSS Profile • Supplemental form required by some colleges/universities • Can be submitted anytime after October 1st • Found at https://cssprofile.collegeboard.org/ • Additional extensive information regarding finances of parents & student • Used often by private institutions • Huge amounts of scholarships and grants are awarded
Estimated Costs of Attendance: • Estimated costs: • • Tuition & Fees: • • On Campus Housing: • • Meal Plan: • • Books/Supplies: • • Transportation: • • Other Expenses: • Computer • Pizza $$$ • Phone
Time=money Scholarship Award= $1000 Time to complete application= 6 hours Amount Earned per hour= $166
Scholarship Myths Most Scholarships are only for top athletes or scholars Scholarship competition is too intense. It’s not worth bothering Scholarships take forever to find and you’re ineligible for most of them anyways You have to be a great essay writer to get a Scholarship Applying for Scholarships is a one time thing So WHO Actually RECIEVES scholarships?
AREA of study may make a difference Information from:: Mark Kantrowitz- Publisher of Fastweb and FinAid April 19, 2011
Good grades help Information from:: Mark Kantrowitz- Publisher of Fastweb and FinAid April 19, 2011
Better Test Scores Mean More Awards Information from:: Mark Kantrowitz- Publisher of Fastweb and FinAid April 19, 2011 Please keep in mind due to the recent admissions scandals some schools are now test neutral
Race doesn’t actually play much a factor Information from:: Mark Kantrowitz- Publisher of Fastweb and FinAid April 19, 2011
Where can you find scholarships? The college you will be/are attending
Where can you find scholarships? Your Community! Library Church/ Congregation Local Businesses
Eligibility: • Demonstrate financial need • Be a citizen or permanent resident of the United States • Be a resident of Colorado, New Mexico, Utah, or Wyoming • Be a high school senior graduating from a school in Colorado, New Mexico, Utah, or Wyoming • Earn a minimum SAT Math score of 490 and a minimum Evidence-Based Reading & Writing score of 490 or a minimum ACT score of 18 in each category (writing score not required). All scores must come from a single test. Super scoring is not accepted. • Earn a minimum Grade Point Average of 3.0 in high school (on an unweighted 4.0 scale) • In order to be eligible for the Daniels Scholarship Program, the applicant’s parent(s) or legal guardian(s) must have an Adjusted Gross Income (AGI) of $85,000 or less on the 2018 Form 1040 U.S. Individual Income Tax Return on which the applicant appears as a dependent. Funding: • The Daniels Scholarship is a comprehensive college scholarship that pays toward the costs of: • Tuition and fees • Room and board • Books and supplies • Miscellaneous educational expenses • It is a "last dollar" scholarship, so it is secondary to all other grants and scholarships. Daniels Scholars are selected because they embody the criteria Bill Daniels defined for the program: • Leadership potential • Commitment to serving their communities • Academic performance or promise • Well-rounded personality • Emotional maturity and stability
Merit-based scholarship • Covers full tuition and fees, but only for specific colleges in Colorado. • Each scholar receives a living stipend and book allowance. • May also qualify for grants for studying abroad and educational enrichment opportunities. Eligibility: -Be a graduating Colorado high school senior who has lived in Colorado for your junior and senior years of high school, and -Be a citizen, legal permanent resident, or lawfully present (including through Deferred Action for Childhood Arrivals (DACA)) in the United States. Selection Criteria: Superior scholastic ability Evidence of leadership and involvement Service to community and school Outstanding character
Where can you find scholarships? Naviance High School Counselor
Legacy Website – https://legacy.adams12.org/ • Please see Naviance for scholarships available to Legacy students. • www.finaid.org • www.goingmerry.com • www.imagineamerica.com • www.fastweb.org • www.collegeboard.org • www.college-scholarships.com/free_scholarship_searches.htm • www.varsitytutors.com/college-scholarship • https://lendedu.com/blog/scholarships
Where can you find scholarships? Your Parent’s Employer Your Employer
If your parents work for one of these companies… you could get scholarships! • Siemens • Merit-based scholarships- $1000/yearly • Federal Government • Merit-based- given to more than 400 students. Ranges from $500-$7000 • Verizon • $4000/yearly • Intel • 400 scholarships worldwide. Up to $4000
Students- Do you have a job? • Your employers might have scholarships as well! • It doesn’t hurt to ask • They might also have TUITION-ASSISTANCE or TUITION REIMBURSEMENT
COMPANIES WITH GREAT TUITION ASSISTANCE • Target • DIRECTV • DISH • Many Banks (Bank of America, Wells Fargo, Etc.) • Apple • Best Buy • UPS • Home Depot • Kaiser Permanente • Starbucks
Uncommon scholarships • *Personal Characteristic • Tall Clubs (Women 5’10” and Men 6’2”) • Little People of America (4’10” or less in height) • *Unusual Majors • Parapsychology • Winemaking • Mycology (spores, mold, fungus) • *Competitions • Duct Tape- Stuck at Prom Contest • National Make it Yourself with Wool Competition • Duck Calling Contest • *Hobbies: • Bowling • Skate Boarding
Applying for scholarships • When to start: • 6 months- 1 year in advance • Apply for Federal Financial Aid • FAFSA – opens October 1st • Order ALL transcripts – available after OCTOBER 1st • Complete Letter of Rec Worksheet in NAVIANCE • Gather a minimum of 3 letters of recommendation • Teachers • Employers • Mentors/Counselors • Create a “Scholarship Resume” • Develop an organization system/spreadsheet, etc.
Strategies for RECIEIVING Scholarships • Start early! • Find new ones every year! • Create an organized folder/binder with information! • The more you apply for, the better your chances are! • You can’t win, if you don’t try! • Use a professional email address! • Don’t miss deadlines! • Follow ALL instructions!
Caution • Don’t ever pay for scholarship applications • Don’t ever pay to join a sight to search for scholarships • Question it if they ask for social security number or bank account number • If they want to send you a direct check
Sample Essay Questions • Describe a special attribute or accomplishment that sets you apart • Describe your most meaningful achievements and how they relate to your field of study and your future goals • Pick an experience from your own life and explain how it has influenced your development • Briefly describe your long-term and short-term goals • State any special personal or family circumstances affecting your need for financial assistance • Why should this foundation/corporation invest in you?
Tips for writing the essay • Directly answer the question • Address your mistakes- if you have a slightly lower GPA, point out why • Show that you are well-rounded • Add a personal touch • Proofread, proofread, proofread • Then have someone else proofread
Interested in being an RA? • Another way to get your college paid for is being a resident assistant. Sometimes colleges will pay for your housing, food, and tuition and even give you a stipend! • An RA is a leadership role in the residence halls. The role involves providing academic and emotional support for students, creating inclusive communities, and educating students on various social issues. • Residence Life typically looks for students who: have a background in customer service, are passionate about social justice issues, and have experience as a leader. • Sometimes, you have to be a sophomore to apply for these positions. • You can find RA positions online via college’s housing department website. You typically have to apply and interview for these positions.