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FINANCIAL AID PRESENTATION WVDE FALL REGIONAL WORKSHOPS

FINANCIAL AID PRESENTATION WVDE FALL REGIONAL WORKSHOPS. David R. Tyson, Chair Brian Noland, Chancellor. West Virginia Higher Education Policy Commission. What is Student Financial Assistance?. Scholarships Grants Loans Employment. West Virginia Higher Education Policy Commission.

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FINANCIAL AID PRESENTATION WVDE FALL REGIONAL WORKSHOPS

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  1. FINANCIAL AID PRESENTATION WVDE FALL REGIONALWORKSHOPS David R. Tyson, Chair Brian Noland, Chancellor

  2. West Virginia Higher Education Policy Commission What is Student Financial Assistance? • Scholarships • Grants • Loans • Employment 2

  3. West Virginia Higher Education Policy Commission Primary Sources of Student Financial Assistance • Institutional • Private • State • Federal 3

  4. West Virginia Higher Education Policy Commission Two Primary Categories of Aid • Merit-Based Aid • Need-Based Aid • Types of Need-Based Aid • Gift Aid • Self-Help Aid 4

  5. Free Application for Federal Student Aid (FAFSA) West Virginia Higher Education Policy Commission • Family and financial information required to perform need analysis is collected on the FAFSA • Paper version will be available to students by calling 800-4-FED-AID • PDF version of the FAFSA can be downloaded at www.FederalStudentAid.ed.gov • Electronic version of the FAFSA • FAFSA on the web, www.fafsa.ed.gov • Student and parent should apply for a Personal Identification Number (PIN) at www.pin.ed.gov for use as an electronic signature for FAFSA on the web 5

  6. West Virginia Higher Education Policy Commission State Financial Assistance • PROMISE Scholarship • WV Higher Education Grant Program • Engineering, Science and Technology Scholarship • Underwood-Smith Teacher Scholarship • Robert C. Byrd Honors Scholarship • Higher Education Adult Part-Time Student (HEAPS) Grant 6

  7. West Virginia Higher Education Policy Commission PROMISE Scholarship • Merit-based scholarship • Pays tuition and mandatory fees at public institutions and an equivalent amount at private schools • FAFSA required for all first-year applicants, March 1 federal processor receipt deadline • State-Level Application required by March 1 for all first-year applicants – www.wvapply.com 7

  8. West Virginia Higher Education Policy Commission 2009 High School Graduates Academic Eligibility Standards • 3.0 overall and core high school grade point average • 22 ACT composite with a minimum score of 20 in each of the four test subsets • 1020 SAT combined score with a minimum score of 490 in critical reading and 480 in math 8

  9. West Virginia Higher Education Policy Commission PROMISE Core Courses 9

  10. West Virginia Higher Education Policy Commission PROMISE Core Courses 10

  11. West Virginia Higher Education Policy Commission WV Higher Education Grant • Need-based grant • FAFSA required for all applicants, March 1 priority application date • State-Level Application required by March 1 for all first-year applicants – www.wvapply.com

  12. West Virginia Higher Education Policy Commission Higher Education Grant Award Levels 2008-09 Academic Year 12

  13. West Virginia Higher Education Policy Commission Engineering, Science and Technology Scholarship • Merit-based scholarship/forgivable loan • March 1 application deadline • 3.0 overall GPA • Enrolled or accepted for enrollment full-time in an engineering, science or technology program (4-yr, 2-yr or certificate) • Maximum annual award amount is $3,000 13

  14. West Virginia Higher Education Policy Commission Underwood-Smith Teacher Scholarship • Merit-based scholarship/forgivable loan • March 1 application deadline • Must be enrolled as a full-time student in a course leading to certification as a teacher at the pre-K, elementary, middle or secondary level • Must have a 3.25 GPA after completing 2 years of course work (due to limited funding, high school applicants are not eligible) • Maximum annual award amount is $5,000 14

  15. West Virginia Higher Education Policy Commission Robert C. Byrd Honors Scholarship • Merit-based scholarship • Must be nominated by high school counselor or principal, limited applications accepted per high school • 2008-2009 average GPA for new recipients was 3.98 and the average ACT was a 33 composite • Maximum annual award amount is $1,500 15

  16. West Virginia Higher Education Policy Commission Higher Education Adult Part-Time Student (HEAPS) Grant • Need-based grant • Decentralized administration • Part-time enrollment only • FAFSA required, but application deadlines will vary among institutions • Maximum award cannot exceed part-time tuition and fee charges 16

  17. West Virginia Higher Education Policy Commission School Counselor Resources • Higher Education Policy Commission Admission and Financial Aid Workshops • Printed and electronic information • Higher Education Policy Commission Financial Aid Data Exchange (FADE) Website 17

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  19. West Virginia Higher Education Policy Commission Expanded Outreach 19

  20. West Virginia Higher Education Policy Commission College Foundation of West Virginia • A web portal designed to assist students and families address: • Affordability • Link students with federal, state and local financial aid resources • Availability • Link students with matching assistance to help them more easily discern which campuses best meet their needs and interests 20

  21. West Virginia Higher Education Policy Commission College Foundation of West Virginia • Preparation • Provide a planning and tracking tool that will allow students to develop a college going timeline and monitoring progress • Providing a test preparation module which will allow students to prepare for college entrance examinations • Aspirations • Reaching out through an access campaign to families so they better understand the post-secondary resources available to them 21

  22. West Virginia Higher Education Policy Commission College Foundation of West Virginia • Application Processes • Streamlining the admission and financial aid application procedures 22

  23. West Virginia Higher Education Policy Commission Contact Information Jack Toney Director, State Financial Aid Programs WV Higher Education Policy Commission 1018 Kanawha Boulevard, East Charleston, West Virginia 25301 toney@hepc.wvnet.edu 304-558-4417 or 877-987-7664 23

  24. West Virginia Higher Education Policy Commission ATTACHMENTS • NASFAA FORMS • Financial Aid Application Checklist (2 pages) • Application Form Tracking Worksheet • Financial Aid Consultants and Scholarship Search Services Fact Sheet (3 pages) • Sample Scholarship Inquiry Letter 24

  25. West Virginia Higher Education Policy Commission ATTACHMENTS • NASFAA Student Aid Program Summary • (Dollar amounts in handout are from the 2008-2009 school year. Updated information will be available in early December 2008.) 25

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