2. Tonight’s Program
I. Introductions and Sponsors
II. What do you know? What do you want to
know? Prequiz
III. Basics to Understanding College
IV. Timeline to Important Dates
V. Getting into College and Staying There
VI. Intro to Financing College
A. Scholarships
B. Workstudy
C. Federal and Private Loans
3. How Much Do You Know About College?
How many choices for college are there within 2 hours of Salem, MA?
A.)25 B.) 55 C.) 99 D.) 2002
A semester of Community College in Massachusetts costs…
A.)500 B.) 1,000 C.) 5,500 D.) 12,000
The US Department of Higher Education says ____ of free Scholarship
and Grant is available every year. A.) $10,000 B.) $50,000 C.)
$999,000 D.) 1 billion
The most difficult part of college is A.) Money B.) Time to study C.)
Space to study D.) A,B & C
True False It is possible to get 100% of your college education
financed by scholarship, grant and loan.
True False It is necessary to take an exam, have high grades and
pay full money to go to College in the USA.
4. After This Session You Will :
•Understand Different Types of Colleges
• Learn important strategies to Prepare for College
• Know 10 ways to be successful in College
• Understand 3 ways to Finance College
• Learn about National and Local Scholarships and helpful
websites to find them
•Understand basic information about Federal and Private
Loans
5. What Do I Want To Know?
Understanding Basics
about Preparing for
College and College
Options
Strategies for
Success
Scholarships and Loans
to Help Pay for College
6. What is College? What are my
Options?
Traditional College or University (4 years)
[Live on Campus, Commute to Campus, Online]
College or University Transfer
Program
(Last 2 years of College)
College
Courses
(pay per credit)
Technical
Training
(6 weeks to 18
months)
Community
College
(2 years)
Private Institute
(varies)
8. Academic Readiness
• Grades
• Many scholarships require 3.0
GPA+
• Courses (AP, Honors vs. Regular)
• Transcript showing Variety,
Improvement
• Interests, Organizations, Community
Service, Experience
9. The Person
Written Essay
o Describe a Significant Experience in your
Life
o Person of Influence or Importance
o Personal Background related to a
Character Value
Interviews
Citizenship
Experiences in your Life
Organizations/ Interests
Community Service
10. College Entrance Exams
• SAT 1: 3 areas of study (Math, Critical
Reasoning, Writing)
• ACT (alternative to SAT1): Individual
Subjects (Math, Reading, Science, etc)
• SAT 2 – Subject tests required for the
more competitive schools
• AP Tests – Can earn $$ and college
credit
11. Studying for the Test
Test Strategy - Learn how to take the test
Review subject material prior to the test
Take SAT study groups
Most High Schools have SAT Electives
Salem CyberSpace offers free classes for Salem
residents
Some private SAT study companies may offer low-
income discounts
Internet –many free study resources online
SAT study software available
Sign up for College Board – junior year.
12. Timeline for Success
Honors
Classes
Join Clubs
Identify
Interests
Experience
Leadership
Honors
Classes
Join another
club or
school
organization
Begin
Community
Service
PSAT – Oct
Resume
PSAT - Oct
SAT & ACT
Exams (Jan,
March, May,
June)
AP Classes
Research
Colleges
Meet with
Guidance
Campus
Visits
AP Classes
Top 5 choices
Prepare
College Essay
Letters of
Recommendat
ion
Take SAT
Subjects
Community
Service
Scholarship
Essay
Deposit
Scholarship
interviews
Renew
Scholarship
Mentors
Support
(TRIO)
Class
Registration
Student
Assistant
Center
Tutoring
14. What Type of Support Do
you Need to Succeed?
Obstacles Success
15. Things to Avoid in order to Successfully
Enter College
Things to Avoid in order to
Successfully Enter College
Solution
1. Not Studying Enough for
Classes/ Exams
Organization and scheduling
2. Missing Deadlines Use a Deadline Scheduler
3. Not Doing Community
Service
Sign up for volunteer work
4. Not joining groups or clubs Sign up for two clubs in your
interest area
16. Things to Avoid Solution
1. Put things off, ignore the
feeling of being
overwhelmed.
Find a mentor
2.Not studying enough for
classes and exams
Join study groups, get
tutoring See student
services
3. Family obligations,
watching little sister instead
of going to class
Talk to advisors who can
help let your family
understand how the college
courses function
Things to Avoid to Successfully
Stay in College
21. Scholarships
Money Given for College based on an affiliation,
academic or special interest achievement. You
do not have to pay back. Providers are
companies, professional groups, ethnic
associations, publications, community
organizations, private donors.
Normal Requirements
2.5 or 3.0 Grade point Average or Special
Skills in another area
Community Service
Special Interests
Leadership roles
22. National Scholarships Local Scholarships
1. Hispanic College Fund (Feb 16th) 1. City Board of Commissioners of
Trust Funds
2. Lulac: League of United Latin
American Citizens
2. Stephen Philips Memorial
Scholarship (April 30)
3. Ronald McDonald Charities
(HACER)
3. Christian Herter Memorial
Scholarship (March 1)
4. Bill Gates Millennium Scholars
(Jan 10th)
4. NSCC Presidential Scholars
Program (after 9 credits are earned)
5. La Unidad Latina 5. State School Alumni Association
Award (April)
6. Best Buy (2.5 GPA) 6. Rotary Club
7. Yawkey Scholar Program (Feb
15th)
7. The Robert P. Buck Alexander
DMD Merit Scholarship
8. MALDEF: Mexican American
Legal Defense Fund (2.5 GPA)
8. High School Booklets/ Local
Banks
23. Sign Up for FastWeb
WWW.FASTWEB.COM
After completing a comprehensive profile,
FastWeb will notify you of scholarships
available to you based on your grades and
background.
24. Grants
Money awarded to attend College because you
meet a specific financial need or belong to a
special group. You may be granted the money
without all the competitive achievements. You
may have to commit to certain guidelines
throughout your receipt of this fund. This is
money you will not have to pay back.
Pell Grant
26. Loan Basics
• Loans are a promise.
– You promise to repay the principal plus the
interest.
– The principal is the original amount you borrow.
– Interest is the amount that a lender will charge you
to use the borrowed money.
• Loans can provide help.
– Education loans are a resource to help you meet
college expenses, establish credit in your name,
and become financially responsible.
• Loans are a responsibility.
– You must repay your loan whether or not you find
employment, complete your degree, or achieve
your salary goal.
28. Important Steps to the FAFSA Application
• Complete the FAFSA—the required application
used to determine your eligibility for federal
financial aid. (online or PDF www.fafsa.gov)
• File taxes as soon as you can so you can complete
the FAFSA right after the January 2012 enrollment
cycle
• New in 2011! Students and parents who have
submitted their IRS tax return will be able to view
and transfer their information over to the FAFSA
29. Preparing for the 2011-2012 FAFSA
Student Information
(spousal information required if married)
– Social Security card
– Driver’s license
– Alien registration or permanent
resident card (if not U.S. citizen)
– 2010 W-2 form(s)
– 2010 federal income tax return(s)
– 2010 untaxed income records
– Current financial statements
– FSA PIN for FOTW
Parent Information
(for dependent students)
– Social Security card(s)
– 2010 W-2 form(s)
– 2010 federal income tax return(s)
– 2010 untaxed income records
– Current financial statements
– FSA PIN for FOTW
FAFSA on the Web Worksheet can help too.
30. After your FAFSA Application is Processed
• You will receive your SAR after your FAFSA is
submitted—via e-mail within 3–5 days with a valid
e-mail address or via postal mail within 7–10 days
if no valid e-mail address.
• Double-check your SAR for accuracy and submit
corrections.
• SAR provides you with your EFC, which is the
contribution that the school believes you (and
your parents, if you are a dependent student) can
make toward your education.
31. Types of Federal Student Loans
• Perkins loan
– School awards students with demonstrated need.
– Funded through the school from a limited pool of
money.
• Stafford loan (subsidized and unsubsidized)
– Previously funded through lenders or the U.S.
Department of Education (ED), but as of July 1,
2010, only funded through ED.
– Subsidized Stafford loans are need based;
unsubsidized Stafford loans are not need based.
• PLUS loan
– Previously funded through lenders or ED, but as of
33. Paying for UMASS
Type Interest Rates Yearly Amount Amount over 4
years
College Grants Not applicable $10,000 $40,000
Federal Grants Not applicable $5,500 $22,000
Scholarships Not applicable $2,000 $ 8,000
Maximum Stafford
Loans Subsidized
6.8% $3500, $4500,
$5500, $5500
$19,000
Stafford Loan
Unsubsidized
6.8% $2,000 $ 8,000
Total $ 97,000
Assumptions: Graduate in 4 years, family is eligible for
maximum federal financial aid (EFC=0)
34. Loan Repayment
Typical Scenario – UMASS
Type Interest Total
loans
#
months
to
repay
Monthly
payment
s – year
one
Total
interest
Total
loan
payment
s
Stafford 6.8% $27,00
0
120 (10
yrs)
$310/mo $10,285 $37,285
Assumptions:
•Start repaying 6 months after graduation
•Graduate college in 4 years
35. Typical High-End Private
Scenario
Congratulations You Just Got Accepted to Boston
University
Total Tuition: $39,314
Total Room and Board: $12,700
Fees: $600
Books: $1,000
Total Cost/Year: $53,614
Total Cost over 4 years: $214,416
36. Paying for Boston University
Type Interest Rates Yearly Amount Amount over 4
years
College Grants Not applicable $20,000 $80,000
Federal Grants Not applicable $5,500 $22,000
Scholarships Not applicable $10,000 $40,000
Maximum Stafford
Loans
(subsidized)
6.8% $3500, $4500,
$5500, $5500
$19,000
Stafford Unsub 6.8% $2,000 $ 8,000
Perkins 5% $3,000 $ 3,000
Plus Loan 7.9% $10,500 $42,000
Total $214,000
Assumptions: Graduate in 4 years, family is eligible for
maximum federal financial aid (EFC=0)
37. Consequences of Default
If you default:
You must immediately repay the entire unpaid amount of
your loan.
You may be sued, all or part of your federal and state tax
refunds and other federal or state payments may be taken,
and/or your wages garnished so that your employer is
required to send us part of your salary to pay off your loan.
You will be required to pay reasonable collection fees and
costs, plus court costs and attorney fees.
You may be denied a professional license.
You will lose eligibility for other federal student aid and
assistance under most federal benefit programs.
You will lose eligibility for loan deferments.
We will report your default to national consumer reporting
agencies (credit bureaus).
38. Thank You for Attending Program
For more information
please contact Jesenia
Tejada at Salem
CyberSpace 978-740-
6667
