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2009 Fall Senior/Parent Night<br />Upward Bound at Johnson State College<br />
Agenda<br />College Applications<br />CSS Profile<br />The FAFSA – Free Application for Federal Student Aid<br />VSAC Gran...
College Applications<br />At least one Safe, Reach, and Dream <br />Watch Deadlines <br />Letters of Recommendation (LOR)<...
The CSS Profile for 2010-2011<br />Some Private Institutions may require more financial information from you/your parents<...
What is Federal Aid?<br />Federal Aid is financial assistance through the U.S. Department of Education<br />Federal Aid co...
Free Application for Federal Student Aid: FAFSA <br />Free, Free, Free<br />www.fafsa.ed.gov or access through www.vsac.or...
Personal Identification Numbers (PINs) <br />FAFSA Pin for parent www.pin.ed.gov<br />Same PIN for multiple children/each ...
WWW.FAFSA.ED.GOV<br />
The FAFSA – What to Bring<br />2009 Tax Information (or most recent tax return)<br />W-2s for 2009<br />TANF/SSI Paperwork...
Sample Questions from The FAFSA<br />Sections for the parent and the student<br />Determination of a Dependent Student<br ...
Results of The FAFSA<br />SAR – Student Aid Report - Email<br />EFC- Expected Family Contribution<br />Many sections of th...
Federal Grants-Do Not Have to Be Repaid <br />
From the FAFSA: The Federal Pell Grant<br />EFC = 0 – 4600*<br />If the EFC is 0, the student is enrolled in 12-18 credits...
From The FAFSA: Academic Competitive Grant (ACG) <br />Must Be Pell Eligible <br />First and Second Year College Students<...
Supplemental Educational Opportunities Grant (SEOG)<br />Intended for Pell Eligible Students; however students just out of...
The Federal Science Mathematics and Access to Retain Talent (SMART Grant)<br />Grant does not have to be repaid<br />Stude...
The VSAC GRANT<br />Separate Application<br />Apply online with us January 9th at WWW.VSAC.ORG<br />Available after Januar...
VSAC Grant – Available 1/01/10<br />
Loans: In most cases must be repaid to the lender<br />
Federal Stafford Loans <br />Subsidized Loans – Interest is not charged while student is in college.<br />UnsubsidizedLoan...
VERY IMPORTANT<br />If the parent applies for the PLUS loan and they are denied for CREDIT reasons:<br />The student is th...
Federal Perkins Loans<br />Loan Amount and eligibility is determined by FAFSA and the College.<br />Separate from a Staffo...
Federal PLUS Loan<br />Loan in Parent’s name<br />Maximum Amount of loan (including handling fees) is determined by the co...
Alternative Loans<br />In the student’s name<br />Parent (or family friend) as co-signor<br />School determines maximum el...
Why Graduate in 4 Years? $$$<br />Average Cumulative Debt for Vermont students from 2003-2009 when graduating from college...
Scholarships – Do not have to be repaid <br />I'm a great believer in luck, and I find the harder I work the more I have o...
VEOP ESSAY<br />How has UB influenced you in making the decision to attend a post-secondary school? <br />500 words or les...
VSAC Scholarship Book<br />Deadlines: Early Bird 02/12/10 <br />You could win one of 3 -  $1,000 scholarships by applying ...
The Dell Scholarship <br />$20,000 to be used up to six years for an undergraduate degree and a laptop.<br />Must be enrol...
New Student Scholarships at the College you are applying to<br />www.meritaid.com<br />Many colleges offer these to studen...
Scholarship Resources<br />www.meritaid.com<br />www.fastweb.com<br />www.vsac.org<br />www.finaid.org<br />www.collegeboa...
So the FAFSA and VSAC Grant is done-what next??<br />The student must be accepted to the college to get an award letter<br...
Now the Questions Only the Family Can Answer:<br />Can the parent take on the PLUS loan?<br />Who will co-sign with the st...
In January 2011 Take Advantage of Tax Credits When Completing Your Tax Return<br />The Hope Credit (available to parents o...
Parent Senior Night November 4 2009
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Parent Senior Night November 4 2009

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Information for HS seniors and parents planning for college.

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Transcript of "Parent Senior Night November 4 2009"

  1. 1. 2009 Fall Senior/Parent Night<br />Upward Bound at Johnson State College<br />
  2. 2. Agenda<br />College Applications<br />CSS Profile<br />The FAFSA – Free Application for Federal Student Aid<br />VSAC Grant Application-Vermont Student Assistance Corporation<br />Scholarships/Scholarship Scams<br />Grants<br />Loans<br />
  3. 3. College Applications<br />At least one Safe, Reach, and Dream <br />Watch Deadlines <br />Letters of Recommendation (LOR)<br />Waivers available through UB – Do not pay Admissions application fees. <br />UB Senior Challenge 12/12/09 <br />Follow up, follow up, follow up w/your college/university. <br />Early Action vs. Early Decision<br />Regular Admission<br />
  4. 4. The CSS Profile for 2010-2011<br />Some Private Institutions may require more financial information from you/your parents<br />Listed on College Website if required – examples: Middlebury and St. Michael’s<br />Available online at: www.collegeboard.com<br />Once you pay the fee bring UB the receipt and we will reimburse you. <br />
  5. 5. What is Federal Aid?<br />Federal Aid is financial assistance through the U.S. Department of Education<br />Federal Aid covers expenses associated with the Cost of Attendance (COA) as determined by your college:<br />-Tuition and fees<br />-Room and Board<br />-Books and Supplies<br />-Transportation<br />-Computer<br />
  6. 6. Free Application for Federal Student Aid: FAFSA <br />Free, Free, Free<br />www.fafsa.ed.gov or access through www.vsac.org<br />Must be completed each year the student is in college.<br />Available each year after January 1st<br />January 9th 2010 FAFSA/VSAC Workshop at 10:00 AM <br />
  7. 7. Personal Identification Numbers (PINs) <br />FAFSA Pin for parent www.pin.ed.gov<br />Same PIN for multiple children/each year<br />Saves Time – get your PIN this November<br />In cases of divorced parents: Parent who provides 51% or more support to the child completes the FAFSA.<br />Online Processing 3-5 business days<br />Paper version 5+ weeks (depending on number of errors, etc.)<br />
  8. 8. WWW.FAFSA.ED.GOV<br />
  9. 9. The FAFSA – What to Bring<br />2009 Tax Information (or most recent tax return)<br />W-2s for 2009<br />TANF/SSI Paperwork<br />PIN for parent and student<br />A black pen<br />
  10. 10. Sample Questions from The FAFSA<br />Sections for the parent and the student<br />Determination of a Dependent Student<br />Number in the Household?<br />For 2009 have you (the student/the parent) completed a tax return?<br />How much did you (parent) earn in 2009? <br />How much did your spouse earn in 2009?<br />Did you received at least one: SSI, WIC, Free or Reduced Lunch, or Food Stamps? – Automatic Zero EFC<br />
  11. 11. Results of The FAFSA<br />SAR – Student Aid Report - Email<br />EFC- Expected Family Contribution<br />Many sections of the FAFSA can be changed/updated after submission.<br />Select schools to electronically send your information. <br />Determines Pell, Loan and some Grant eligibility<br />
  12. 12. Federal Grants-Do Not Have to Be Repaid <br />
  13. 13. From the FAFSA: The Federal Pell Grant<br />EFC = 0 – 4600*<br />If the EFC is 0, the student is enrolled in 12-18 credits then they are eligible for $5,350* in Pell Grants<br />The lower the EFC the more aid you will qualify for if you fill out forms on-time.<br />Each year eligibility will be determined by the latest FAFSA.<br />*2009 figures<br />
  14. 14. From The FAFSA: Academic Competitive Grant (ACG) <br />Must Be Pell Eligible <br />First and Second Year College Students<br />Have completed a rigorous program of HS study<br />Not enrolled in a degree program in college before<br />Year 1: $750<br />Year 2: $1,300 (if you have a 3.0 GPA after year 1 of college and meet all the above criteria)<br />
  15. 15. Supplemental Educational Opportunities Grant (SEOG)<br />Intended for Pell Eligible Students; however students just out of Pell Eligible range may qualify.<br />Grant Award offered is determined by the school.<br />$100-$4,000 Award Limit Per Academic Year.<br />
  16. 16. The Federal Science Mathematics and Access to Retain Talent (SMART Grant)<br />Grant does not have to be repaid<br />Student must be Pell eligible <br />Full time<br />Third or fourth year in college<br />Have a 3.0 GPA<br />Majoring in physical, life, or computer science, engineering, technology, or mathematics or a critical-need foreign language.<br />
  17. 17. The VSAC GRANT<br />Separate Application<br />Apply online with us January 9th at WWW.VSAC.ORG<br />Available after January 1st<br />VSAC will often request documentation from you by mail. Follow up!!!<br />Asks some different questions than the FAFSA because of Vermont Law.<br />You choose the one school you want this sent to and must follow up if you change your mind.<br />Must be done each year.<br />Grants Range from $400-$4000 per year<br />
  18. 18. VSAC Grant – Available 1/01/10<br />
  19. 19. Loans: In most cases must be repaid to the lender<br />
  20. 20. Federal Stafford Loans <br />Subsidized Loans – Interest is not charged while student is in college.<br />UnsubsidizedLoans-Interest is charged on the money borrowed while the student is in college.<br />Pay back occurs 6 months after the student graduates or leaves college.<br />Low interest<br />Loan in student’s name and Promissory Note is completed with the lender.<br />Graduated amount to borrow $3,500+<br />
  21. 21. VERY IMPORTANT<br />If the parent applies for the PLUS loan and they are denied for CREDIT reasons:<br />The student is then eligible for $4,000 more in Unsubsidized Stafford Loans if you have the lender fax the denial letter to your college.<br />Follow up with the college: Ask for the $4,000 more to be put on your award letter when they receive the denial letter.<br />
  22. 22. Federal Perkins Loans<br />Loan Amount and eligibility is determined by FAFSA and the College.<br />Separate from a Stafford Loan so you would pay your college directly back for this loan.<br />Typically go to first or second year students. <br />Interest is charged at 5%<br />Loan is not charged interest while in school (subsidized).<br />Loan Forgiveness Eligible for some teachers.<br />Maximum loan per year is $4,000 but don’t rely on a lot of $ from this program.<br />
  23. 23. Federal PLUS Loan<br />Loan in Parent’s name<br />Maximum Amount of loan (including handling fees) is determined by the college.<br />Repayment begins approximately 6 months after student begins school.<br />Lender varies and is selected by the borrower: VSAC, Wachovia, AAA or your college’s preferred lender.<br />There is an approval process by the lender.<br />Unsubsidized so parents are always paying interest.<br />Consolidation can occur with these loans for concurrent years. <br />Student is not on this loan. <br />
  24. 24. Alternative Loans<br />In the student’s name<br />Parent (or family friend) as co-signor<br />School determines maximum eligibility<br />Highest Interest Rate of all loans<br />Lender: VSAC or from the college’s preferred lender list.<br />
  25. 25. Why Graduate in 4 Years? $$$<br />Average Cumulative Debt for Vermont students from 2003-2009 when graduating from college. This is only Federal Debt. Alternative, Private, Institutional, and PLUS loans are not added into these figures.<br />Source: VSAC<br />
  26. 26. Scholarships – Do not have to be repaid <br />I'm a great believer in luck, and I find the harder I work the more I have of it.  ~Thomas Jefferson<br />
  27. 27. VEOP ESSAY<br />How has UB influenced you in making the decision to attend a post-secondary school? <br />500 words or less (2 pages)<br />Scholarship Due: Wednesday, January 27th, 2010<br />You could win up to $600 to pay for college! <br />
  28. 28. VSAC Scholarship Book<br />Deadlines: Early Bird 02/12/10 <br />You could win one of 3 - $1,000 scholarships by applying early!<br />Regular Deadline 03/05/2010 <br /><ul><li>Make sure you follow up with VSAC to be sure all parts of your application have been received. </li></li></ul><li>Phillips Memorial Scholarship<br />Renewable Scholarship!<br />May 1st, 2010 Deadline<br />3.0 Cumulative HS G.P.A.<br />Write an authentic essay that expresses creativity.<br />Think about asking Tony or Allison to write you a LOR!<br />Tell them about your community service and how you plan on continuing your service in college. <br />
  29. 29. The Dell Scholarship <br />$20,000 to be used up to six years for an undergraduate degree and a laptop.<br />Must be enrolled 2 YRS in a college readiness program - Like UB!<br />2.4 HS GPA<br />You must have financial need!<br />Express your individuality!<br />Applications became Available November 1st, 2009<br />Deadline: January 15th 2010<br />
  30. 30. New Student Scholarships at the College you are applying to<br />www.meritaid.com<br />Many colleges offer these to students, but very few actually apply. <br />Do you have new student scholarships?<br />Ask Financial Aid offices – Do you have more available aid?<br />Do you have a wait list for aid?<br />
  31. 31. Scholarship Resources<br />www.meritaid.com<br />www.fastweb.com<br />www.vsac.org<br />www.finaid.org<br />www.collegeboard.com<br />www.srnexpress.com<br />www.dellscholars.org<br />www.phillips-scholarship.org<br />
  32. 32. So the FAFSA and VSAC Grant is done-what next??<br />The student must be accepted to the college to get an award letter<br />The award letter should be in the mail from the college in February/March depending on the college. <br />Do not deposit at a college until we can review the award letter.<br />Remember this is not real money and many times there is a gap that you will need to pay. <br />
  33. 33. Now the Questions Only the Family Can Answer:<br />Can the parent take on the PLUS loan?<br />Who will co-sign with the student if the parent cannot? <br />UB Students most scholarships have an early spring deadline: What are you doing over your two holiday breaks?? <br />
  34. 34. In January 2011 Take Advantage of Tax Credits When Completing Your Tax Return<br />The Hope Credit (available to parents of freshmen and sophomores if the family qualifies)<br />The Lifetime Learning Credit<br />Home Equity Lines of Credit used for education purposes may have tax deductable interest.<br />The Upward Bound Program/Johnson State College cannot give tax/financial advice.<br />
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