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Durham School of the Arts Financial Aid Presentation. Financial Aid 101 … an introduction to financial aid Please take the TWO handouts near either entrance to the Media Center. Financing Your Future. What does college cost? How do I apply for financial aid?

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Durham school of the arts financial aid presentation
Durham School of the Arts Financial Aid Presentation

  • Financial Aid 101

  • …an introduction to financial aid

  • Please take the TWO handouts

  • near either entrance to the

  • Media Center

  • January 2013

    Financing your future
    Financing Your Future

    • What does college cost?

    • How do I apply for financial aid?

    • What types of aid are available?

    • Where can I get more information?

    January 2013

    What does college cost annual tuition and fees not including housing and living costs
    What does college cost?(annual tuition and fees, not including housing and living costs)

    • Private Colleges: $22,536

    • Private Career Colleges: $14,254

    • University of North Carolina: $7,008

    • State Universities: $4,467

    • Community & Technical Colleges: $1,688

    • ECPI Criminal Justice Associates Degree

      • 2 year program $50,000 plus fees

    January 2013

    Cost of attendance coa
    Cost of Attendance (COA)

    The cost of attending an institution includes more than just tuition and fees. Also included are:

    Room and Board Books and Supplies

    Transportation Personal Expenses

    January 2013

    What does coa look like for public and private schools in north carolina
    What does COA look like for public and private schools in North Carolina?

    • Taking into account tuition & fees, room, board, books & supplies, travel, health insurance, loan fees, personal expences:

      • UNC Chapel Hill $22,340

      • Duke University $59,343

      • UNC Greensboro $18,000 approx.

      • Campbell Univ. $20,000 approx.

      • Appalachian State $19,000 approx.

      • NC State $20,644

      • NC A&T $17,578

    January 2013

    How will i pay for it
    How will I pay for it? North Carolina?

    • Family support

    • Savings

    • Work

    • Grants

    • Scholarships

    • Loans

    January 2013

    What is financial aid
    What is financial aid? North Carolina?

    • Merit-based aid

      - academics - talent - athletic - others

    • Grants – need based

    • Loans – student & parents

    • Employment Opportunities

      • On-campus & off

    • Outside Scholarships

    January 2013

    Where does it come from
    Where does it come from? North Carolina?

    • Federal Government

    • State Government

    • Colleges and Universities

    • Private and public sources

    January 2013

    Applying for federal financial aid
    Applying for Federal Financial Aid North Carolina?

    • Free Application for Federal Student Aid (FAFSA)

      • Required for all types of federal aid

      • Download the FAFSA on the Web Worksheet via http://www.fafsa.ed.gov to prepare you form

        • 99% of forms are filed online! Your Income Tax returns can automatically populate the application

        • Sign the form with a Personal Identification Number (PIN)

        • Paper form can be obtained by calling 1-800-433-3243

        • Complete FAFSA at www.fafsa.gov after January 1st, preceding the academic year

        • Results available online in 48 hours and to the institutions you list on the FAFSA

    January 2013

    Getting a pin
    Getting North Carolina? a PIN

    • Student and parent may sign the form with a Personal Identification Number (PIN).

      • PIN enables application to be processed faster

      • PIN is valid for years

      • Parent’s PIN may be used for multiple children

      • Each student must have own PIN.

    January 2013

    Pin registration www pin ed gov
    PIN Registration North Carolina?www.PIN.ed.gov

    January 2013

    Fafsa on the web www fafsa ed gov
    FAFSA on the Web North Carolina?www.fafsa.ed.gov

    January 2013

    Be careful
    Be careful… North Carolina?

    Put your name and SSN on FAFSA exactly how it appears on your social security card

    Refer to completed federal income tax return and consult instructions for proper line references

    If entry is zero or none, enter 0--don’t leave blank

    Enter college/university code(s)

    Student and one parent must both sign dependent student’s FAFSA

    December 2011

    January 2013

    Fafsa day 2013
    FAFSA North Carolina?Day 2013

    Saturday, February 23, 2013

    Any time between 9 a.m. and noon

    Get FREE help completing your FAFSA online from college financial aid officers

    Check www.CFNC.org/fafsaday or call toll-free, 1-866-866-CFNC to:

    Find closest location and

    Register for FAFSA Day

    January 2013

    Where can you find truly free information about financial aid
    Where can you find truly free information about financial aid?

    Contact College Foundation of North Carolina at CFNC.org or toll free at


    -- Service of the State of North Carolina

    Talk to the financial aid administrator at the college of choice

    Ask your high school counselor

    Apply for federal financial aid at FAFSA.ed.gov (notice it is not FAFSA.com!)

    January 2013

    What makes a student independent
    What makes a student aid?“independent”?

    • At least 24 years old by December 31st of the award year covered by the FAFSA

    • Graduate or professional student

    • Married

    • Has legal dependents other than a spouse who receive more than one half of their support from the student

    • Is an orphan, in foster care, or ward of the court

    • On active duty or veteran of the U.S. Armed Forces

    • Emancipated minor or in legal guardianship as determined by a court

    • Has been determined to be homeless by an authorized official

    January 2013

    Expected family contribution efc
    Expected Family Contribution (EFC) aid?

    The EFC is calculated from the information you provide on the FAFSA according to a formula established by law.

    You can get an estimate of your EFC using the FAFSA 4-caster tool at www.fafsa.ed.gov.

    January 2013

    Efc components
    EFC Components aid?

    Dependent Student

    • Parents’ income and assets

    • Household size

    • Number of dependents attending college

    • Student’s income and assets

    Independent Student

    • Student’s (and spouse’s) income and assets

    • Household size

    • Number in household attending college

    January 2013

    How does a school determine my financial aid award
    How does a school determine my financial aid award? aid?

    Cost of Attendance (COA)

    - Expected Family Contribution (EFC)

    = Eligibility for need-based financial aid

    January 2013

    Grants aid?

    • Federal Pell Grant: need-based; annual award range for a full-time student is $976 - $5,350

    • Federal SEOG Grant: limited funding; priority given to students with exceptional need; annual award range is $100 - $4,000

    • Academic Competitiveness Grant (ACG): completed rigorous secondary curriculum; GPA requirement & demonstrated aptitude for leadership & service freshman/sophomore award range is $750 - $1,300

    January 2013

    More on grants
    …more on grants aid?

    • North Carolina State Grant: NC resident enrolled at eligible NC school; for students from low and moderate income families; annual award range is $100 - $9,444

    • CFNC - Paying For College - Scholarship and Grant Programs

    • Institutional Grant: college or university funds awarded to students with financial need

    January 2013

    Types of loans
    Types of Loans aid?

    January 2013

    Minimize your debt
    Minimize your debt aid?

    For most students borrowing is part of making college affordable. Here are some strategies for responsible borrowing:

    • Graduate on time

    • Create a budget and stick to it

    • Avoid credit card debt

    • Look for ways to limit spending

      (Coffee shop vs. Coffee maker; Bus/Bike vs. Car)

    • Get help if you get into debt trouble

    January 2013

    Work study
    Work-Study aid?

    • Part-time student employment

    • Earnings paid to student

    • Work-Study earnings not included when determining EFC on next year’s FAFSA

    January 2013

    Scholarship searching
    Scholarship Searching aid?

    • High school counselor’s office or career center

    • Community, church, civic, and business organizations

    • Employers

    • Colleges and Universities

    • On the Web

    January 2013

    Avoid scholarship scams
    Avoid Scholarship Scams aid?

    • Legitimate scholarships never charge fees and the application information is available to everyone. The ONLY exception is the CSS Profile.

    • Don’t fall for guarantees or claims that someone has information you can’t get anywhere else

    January 2013

    Where can i get more information
    Where can I get more information? aid?

    • U.S. Department of Education: www.ed.govandwww.college.gov

    • Internet System for Education & Employment Knowledge: www.iseek.org

    • The Student Guide

      • Published by US Department of Education

        • www.ed/gov/prog_info/SFA/StudentGuide

    • FinAid! - The Financial Aid Information Page: www.finaid.org

    • Student Financial Aid for North Carolinians

      • www.cfnc.org/fabook

    January 2013

    What should i do and when
    What should I do and when? aid?

    • Apply for scholarships now and throughout college

    • Apply for admission to your school(s) of choice

    • Apply for your PIN number

    • Complete the FAFSA each year and be aware of school financial aid deadlines

    January 2013

    What should i do and when1
    What should I do and when? aid?

    Review your Student Aid Report (SAR) for accuracy

    Respond promptly if your school requests more information

    Respond to financial aid award notice

    Complete loan promissory notes and work-study forms

    January 2013

    Financing your future an investment in you
    Financing Your Future aid?…an investment in you !

    January 2013