5/23/2013 1www.collegenowgc.orgFinancial Aid Optionsfor Foster Youthwww.collegenowgc.org
5/23/2013 2www.collegenowgc.orgWhat is Financial Aid?Money to help students pay fortheir college education(not always FREE!)
5/23/2013 3www.collegenowgc.orgTypes of Financial AidThere are three types of financial aid:1. Gift money• Grants & scholarships2. Earned money• Federal work study3. Borrowed money• Education loans (federal & private)
5/23/2013 4www.collegenowgc.orgWhat is the FAFSA?• Free Application for Federal Student Aid• Why should I complete it?– Generates every type of financial aid• When should I complete it?– After January 1 of High School Senior Year• How should I complete it?– Complete the FAFSA at www.fafsa.gov
5/23/2013 7www.collegenowgc.orgFAFSA• You need to complete it every year to getfinancial aid• File your FAFSA by your school’s priorityfiling deadline– February 15th is a common deadline
5/23/2013 8www.collegenowgc.orgExpected Family Contribution(EFC)• The EFC is what the Department ofEducation feels the family can contributeto the cost of the student’s education– Is it fair? Most people think “no!”• The EFC does not change from school toschool
5/23/2013 9www.collegenowgc.orgStudent Aid Report (SAR)• Summary of your FAFSA information• It is sent electronically to the schools youhave listed on your FAFSA• Schools will use the information from yourSAR to help determine your financial aid
5/23/2013 10www.collegenowgc.orgCost of Attendance (COA)Tuition & Fees+ Room & Board+ Books & Supplies+ Personal Expenses+ TransportationCost of Attendance
5/23/2013 11www.collegenowgc.orgFinancial NeedCost of Attendance- Expected Family ContributionFinancial NeedFinancial Need is used to determine whattype of financial aid a student will receive
5/23/2013 12www.collegenowgc.orgAward Letter• Award letters sent from schools in lateMarch or the beginning of April• Compare award letters for:–Gift Money–Earned Money–Borrowed Money–Unmet Need
5/23/2013 13www.collegenowgc.orgExtra Monies Available• ETV• College Bound (CuyahogaCounty)
5/23/2013 14www.collegenowgc.orgETVThe Ohio Education and Training Voucher Program is a federally-funded,state-administered program designed to help youth who were in fostercare. Students may receive up to $5000 a year for qualified school relatedexpenses. Funding is limited and available on a first-come, first-served basis toeligible students. Applicants must complete the ETV application which includesdocumentation each semester that is sent directly from the school to ETVconfirming enrollment, the cost of attendance (COA) and unmet need.ELIGIBILITY REQUIREMENTS1. You must be a current or former foster student who:– was in foster care on your 18th birthday and aged out at that time.– ORwas adopted from foster care with the adoption finalized AFTER your16th birthday.– ORwill have your foster care case closed between the ages of 18 and 21.
5/23/2013 15www.collegenowgc.orgETV – cont.2. You must be a U.S. citizen or qualified non-citizen.3. Your personal assets (bank account, car, home, etc.) are worth lessthan 10,000.4. You must be at least 18 but younger than 21 to apply for the firsttime. You may reapply for ETV funds, if you have a current grant, upto the age of 23.5. You must have been accepted into or be enrolled in a degree,certificate or other accredited program at a college, university,technical, vocational school. To remain eligible for ETV funding, youmust show progress toward a degree or certificate.6. Apply or re-apply after July 1st.website: www.statevoucher.org
5/23/2013 16www.collegenowgc.orgFindingScholarshipsbecause they aren’t goingto find you.
5/23/2013 17www.collegenowgc.orgWhere to start?The college that youwant to attend.
5/23/2013 18www.collegenowgc.orgDedicated ScholarshipsFoster Youth:Foster Care to Success• www.fc2success.orgAdopted Youth:UMPS Care Charities• www.umpscare.com/AllStarScholarshipChildren’s Action Network• www.childrensactionnetwork.org/scholarship
5/23/2013 19www.collegenowgc.orgStrategy # 1:Think Local– Local civic organizations, churches, your high school,your place of employment all might offer scholarships.– Your chance of getting a scholarship goes up the morelocal it is!
5/23/2013 20www.collegenowgc.orgStrategy # 2:Think Specific– Scholarships are available for students based onacademic achievement, for certain majors, forunderrepresented students, etc.– There are scholarships for specific people; as specific asYOU!
5/23/2013 21www.collegenowgc.orgStrategy # 3:Think Easy−Apply to the most obvious scholarships first.
5/23/2013 22www.collegenowgc.orgApplying for Scholarships• Be sure you meet all deadlines• Understand what is required forsubmission• Follow up in a timely manner if you havenot heard from awarding institution
5/23/2013 23www.collegenowgc.orgThe Essay Step 1:• Choosing a topic– Are you answering the question– Do you have enough information to support your topic– Is your topic too controversial or too boring– Is your topic unique or can you put a unique spin on it
5/23/2013 24www.collegenowgc.orgThe Essay Step 2:• Writing your essay– Use the essay as a chance to separate yourself fromother applicants– Write so people understand what you are saying– The body of your essay should support theintroduction
5/23/2013 25www.collegenowgc.orgThe Essay Step 3:• Proofing an essay– Ask at least two honest and qualified people to readover your essay– If you quoted something make sure you cited itcorrectly– Make sure each word counts
5/23/2013 26www.collegenowgc.orgDon’t do this . . .Eye halve a spelling checkerIt came with my pea sea,It plainly marquees four my revueMiss steaks eye kin knot sea.Eye strike a key and type a wordAnd weight for it two say,Weather eye am wrong oar writeIt shows me strait a weigh.As soon as a mist ache is maidIt nose bee fore two long,And eye can put the error riteIts rare lea ever wrong.
5/23/2013 27www.collegenowgc.orgBeware!• Not all scholarship providers have yourbest interest in mind!–Watch out for:• Application Fees• Guaranteed Winnings• Too-good-to-be-true offers