Financial Aid Quick Guide: Maximizing Your Funding Potential for Education

1. Financial Aid A Quick Guide

2. Main Types of Aid • Federal • Available after completing FAFSA-http://www.fafsa.ed.gov/ • State • Almost every state has financial aid for it’s residents • Also Available after FAFSA or State Application • University/ Institutional • Many institutions provide need based financial aid • There are also Institution based scholarships available • Private • Any company, program, or outside source that provides scholarships

3. Best way to go about it • Combine all 4 types of aid. • Focus on Federal + State Aid (FAFSA) • Use target institutions as resources (website, email, phone) • Search locally -> nationally for private scholarships • Funds are limited so some programs are first come first serve. • Starting early gives you the best chances of success!

4. Immediate Steps • Start in September (start now) • Visit http://www.nasfaa.org/for outline of Fin. Aid. • Visit target university websites for financial aid policies & programs immediately. • Apply for your FAFSA PIN

5. Free Application for Federal Student Aid (FAFSA) • Opens January 1st • Profile determines financial need/ situation. • Must be signed using PIN by Guardian and Student, get *these early • http://www.pin.ed.gov/PINWebApp/pinindex.jsp • Automatically apply for Fed. And State AID • MOST IMPORTANT FORM! • Finish FAFSA As Soon As Possible • Finish at the latest March 15th

6. Federal Aid – Likely Benefits • Federal Pell Grants • up to 5,550 each year for 12 semesters • Federal Supplemental Educational Opportunity Grants (FSEOG) • Awarded to students in exceptional need. • The Federal Work-Study Program • Opens students up to Work Opportunities • Check your Eligibility for these programs (Income based) and more. • FAQS and a thorough outline. • http://www.fafsa.ed.gov/help.htm

7. State Resources • Each state has programs for need, merit, and more! • State Education Agency website: • http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_cd=SHE • Overview of Universities and State Programs • **State by State financial aid Programs **: • http://www.nasfaa.org/students/State_Financial_Aid_Programs.aspx

8. State Resources • Will usually rely on FAFSA application to determine eligibility • Many will not have separate application • Many have specific requirements: GPA, AP/ IB enrollment, demonstrate financial need, etc. etc. • Opportunities available for certain degrees (teaching, engineering, etc.) & demographics. • Often renewable if yearly requirements are met** • Funds are limited, finish application early. • Do not assume you will receive, check the website!

9. Private Aid • Colleges/ Universities offer scholarships and Grants • Companies, foundations and other organizations offer Scholarships • Based on need, merit, achievement, and MORE. • Can be very open or narrow eligibility requirements. • Should be lowest priority/ source of aid.

10. Private Aid • Will have unique Application • Will have unique Deadline • Will not necessarily have high competition • Look for these deadlines As Soon As Possible • Should NEVER be any FEES for applications, beware of scams!

11. Plan for Private Aid • Search locally (in your City/ Town) - fewer applicants (easier to get). Look where you’re involved! • College Counselors should have plenty of information for local scholarships. • There are scholarships for everything, expand your horizon! • Prioritize local scholarships and then attempt larger ones. • Do not be afraid of essay, poetry, or other competitions. • If you qualify, then apply! • Always keep track of deadlines. • Look in scholarship books and online: • www.fastweb.com • www.collegeboard.com • www.Zinch.com/scholarships

12. CSS Profile/ IDOC • If they offer Early Admission - may require a CSS profile • Profile determines financial need/ situation. • Early admit or not, check the website to see if profile is necessary: https://profileonline.collegeboard.org/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv • Few scholarships that also require the profile - very specific, do a scan. If you are not interested or ineligible for the scholarships and your target school does not require the profile. Do not fill it out. • If profile necessary, submit 2 weeks before the submission deadline. • If you qualify for free or reduced lunch, you may be eligible for a fee waiver for the CSS profile.

13. Execution • Start heavy searching after College Apps • Winter break is perfect for scholarship search • Useful tip: Get a physical calendar! Keep track of application dates! • No calendar? EXCEL Spreadsheet! • Your mentee doesn’t have to finish the scholarship applications now, but check eligibility and have a look at the application as soon as possible. • Have your mentee talk to their high school counselors. * * • Many deadlines for scholarship opportunities come around Mid February and on, to stay eligible, KEEP TRACK OF DEADLINES.

14. RecaP • Start by checking your target institutional scholarships and programs early. • Check for Financial Aid within your state and apply if necessary. • Begin your Private Aid Scholarship search (September - December) • Finish FAFSA as soon as possible (After January 1st) • Fill out CSS Profile/ IDOC if necessary • Focus on institutional aid and continue private scholarship applications. • The more you apply, the higher your chances. If you are eligible, Apply! • Local Scholarships  Larger, National Scholarships • Once again, KEEP TRACK OF YOUR DEADLINES

15. Ways to Cut Costs • AP and Dual enrollment classes • Reach out to HS Counselors • Earn College Credit, boost GPA, strive for higher achievement • AP credit accepting Universities: https://apscore.collegeboard.org/creditandplacement/search-credit-policies • Consider Housing: Living at home, in a dorm, or off campus • Home -> Save money, may be less social • Dorm -> Expensive, but usually more social • Start at community College • Very cost effective (Avarage < 1/2 public universities) • Can Transfer to Public University (in State) • Finish basic requirements then Transfer to Public University

16. Ways to Cut Costs • Earn Money while working • Federal Work Opens on campus and volunteer jobs • Steady income and gain work experience. • Choose appropriate meal plan • Be realistic, only buy what you will eat. • Buy used textbooks, rent, or find books online • Use campus bookstore last • Buy and return books in between cheaper alternatives • Attempt to use an older edition

17. High Achieving Scholarships • AXA achievement Scholarship: for outstanding achievement outside of the classroom: http://www.axa-equitable.com/axa-foundation/AXA-achievement-scholarship.html • Ron Brown Scholar: High achieving African Americans: http://www.ronbrown.org/Apply/EligibilityRequirements.aspx • Gates Millennium Scholarship: High Achieving ethnic minorities: http://www.gmsp.org/ • List of Hispanic Scholarship Fund scholarships: http://hsf.net/en/scholarships/programs

18. TEXAS Opportunities • Large List of Scholarships (Texas Geared) • http://www.collegeforalltexans.com/apps/financialaid/tofa.cfm?Kind=PGS • MUST CHECK WEBSITE • http://www.collegeforalltexans.com/index.cfm?ObjectID=699A998A-E7F3-1DCC-3F460F26136EEA05 • Under “Types of Financial AID” • State and Federal Grants and Scholarships link • Private/Corporate Grants and Scholarships link • Navigate the other pages as well!