Learn about:
Early FAFSA timeline
Types of financial aid
Financial aid process and formulas
Tracking your students’ FAFSA completions
EducationQuest updates
5. Scholarship tips for students
■ Focus on college-based and local
■ Review ScholarshipQuest and
national sites
■ Begin research in 10th/11th grade
■ Use College Funding Estimator
to determine EFC
■ Provide Activities Resume for
letters of recommendation
6. Scavenger Hunt Scholarship
• For students in grades 9-12
• They complete a ScholarshipQuest profile to find the
scholarship
‒ Deadlines to apply are Jan. 15 and March 31
• Two $500 scholarships awarded
EducationQuest SCHOLARSHIPS
Financial Aid Program Scholarship
• Juniors & seniors register at a Financial Aid Program
‒ Parents/guardians may register for their student
• Six $500 scholarships awarded in December
7. EducationQuest SCHOLARSHIPS
Get Social Scholarship
• For students in grades 9-12 who follow us on
Facebook, Twitter & Instagram
‒ Parents of 9th-12th graders may also apply
• Enter to win a $500 scholarship each time we hit
another 500 followers
Winners of these scholarships must have/create a
NEST 529 College Savings Account to receive funds.
8. 2017-18 Winners!
Scavenger Hunt Scholarship
Financial Aid Program Scholarship
Get Social Scholarship
Skyler Gubbels,
Norfolk
High School
Adyson Otte,
Ravenna
High School
Tristian Peter,
Lourdes Central
High School
Shailece Porter,
UmónHon Nation
Public School
Katelyn Schneider,
Nebraska City
High School
Kiarha Yepez-Meza,
Gibbon High School
Grant Holst,
Elkhorn South
High School
Lydia Mike,
Millard West
High School
Katrina Thomassen,
Weeping Water
High School
Jasmine Xochiwua,
Boys Town High School
A second recipient wished to
remain anonymous
9. Susan Thompson Buffett
SCHOLARSHIP
• Financial need (EFC < $10,000)
• 2.5 GPA on 4.0 scale
• Attend a public 2- or 4-year college in Nebraska
ELIGIBILITY
IMPORTANT DATES
• November 1: Application opens (online)
• February 1: Application deadline (5 p.m. CT)
• Up to $5,000 per semester
AMOUNT
BuffettScholarships.org
11. TUITION ASSISTANCE Programs
All University of Nebraska campuses
collegeboundnebraska.com
Chadron, Peru, Wayne State Colleges
nscs.edu/nscs-advantage.htm
Nebraska Wesleyan University
nebrwesleyan.edu/scholarships-
and-financial-aid
12. Federal
– Pell Grant ($652-$6,095)
– Supplemental Educational Opportunity Grant
State
– Nebraska State Opportunity Grant
College-based
GRANTS
Based on financial need; you don’t repay them
13. WORK-STUDY
• Based on financial need
• Part-time job, typically on campus
• Earn as you work
14. DIRECT LOAN for students
How much can they borrow?
1st year - $5,500
2nd year - $6,500
3rd year - $7,500
4th year - $7,500
Interest rate?
5.045% (changes annually)
Who pays the interest?
Subsidized – Government pays while student’s in school
Unsubsidized – Student pays
15. DIRECT PLUS LOAN for parents
How much can they borrow?
Determined by the college
When does repayment begin?
60 days after loan is disbursed
What’s the interest rate?
7.595% (changes annually)
17. WHO is included in the process?
• Dependent students and their parents
‒ Which parent is included?
• Married - both
• Divorced or separated - custodial parent where
student lives the most
• Divorced w/ equal custody - parent who provides
the most financial support
• Remarried - custodial parent & step-parent
• Unmarried legal parents living together - both
18. Create an FSA ID
• Student and parent must each create one!
• Username and password
• They’ll need them for:
‒ The FAFSA
‒ IRS Data Retrieval
‒ Student/PLUS loans
fsaid.ed.gov
Yes, Dad…we BOTH
need an FSA ID.
24. myStudentAid – mobile app
• Mobile-friendly FAFSA
• myFAFSA component (complete FAFSA)
• Must have FSA ID
25. STUDENT AID REPORT (SAR)
Provides:
• Expected Family Contribution
• Verification notification
• Pell Grant/loan eligibility
Financial information is masked
when using IRS Data Retrieval.
26. Verification
• College randomly selects approx. 1/3 of students
– Requested via online student portal, email, or mail…
students must check them often!
• Colleges will NOT award financial aid until student
submits required documents
• May also need to provide:
– IRS tax transcript
– W2s
– Court filing for proof of state ward/guardianship
– Death certificate
27. How colleges award financial aid
Cost of
Education
• Tuition & Fees
• Books & Supplies
• Room & Board
• Personal &
Transportation
Expected
Family
Contribution
(FAFSA Results)
Factors include:
• Parent Income/Assets
• Student Income/Assets
• Parents’ Age
• Number in Household
• Number in College
Financial
Need
Amount the college
will try to award you
in financial aid.
28. Financial Aid Award Notification
• College sends notification to
student
‒ Via online student portal,
email, or mail
• Provides types and amounts
of aid to be awarded
• Student should respond by
deadline
29. Sample AWARD LETTER
Fall Spring Total Accept Decline
Scholarships:
Institutional $1,500 $1,500 $3,000 ______ _____
Grants:
Institutional $650 $650 $1,300 ______ _____
Work-Study: $1,250 $1,250 $2,500 ______ _____
Loans:
Direct Subsidized Loan
Direct Unsubsidized Loan
$1,750
$1,000
$1,750
$1,000
$3,500
$2,000
______
______
_____
_____
Total Aid: $12,300
Unmet Need: $ 9,600
Tuition & Fees: $ 7,800
Books & Supplies: $ 1,100
4-year PUBLIC college
Room & Board: $ 9,500
Personal & Transportation: $ 3,500
Total Cost: $21,900
Criteria:
25 ACT
3.75 GPA
Top ¼ class rank
$10,800 EFC
33. What if family owns a BUSINESS?
EXCLUDE value if:
– Ownership is 50% or more
– Have less than 100 employees
– Actively participate in operation of the business
34. EXCLUDE value if:
– Family lives on and operates the farm
– It’s main source of family income
INCLUDE value if:
– Rent is received for farm ground or pasture
– Student’s parent is part of a family farm
partnership or corporation
– Parents do not participate in running the farm
What if family owns a FARM?
35. INCOME impact on EFC – family of 4
Family A Family B Family C
Income $50,000 $100,000 $150,000
$50,000 $50,000 $50,000
EFC $3,120 $18,611 $33,498
Assets
36. ASSET impact on EFC – family of 4
Family A Family B Family C
Income $50,000 $50,000 $50,000
$0 $75,000 $100,000
EFC $2,251 $3,798 $4,551
Assets
38. • Activities Resume
• College Funding Estimator
• College Planning Timeline
• College Profiles
• FAFSA Tools
• Reality Check
• ScholarshipQuest
• Spanish Resources
Blog
Upcoming Events
other Website resources
39. One convenient location to find resources for:
Find it under “Professionals”
at EducationQuest.org
40. • Official 2018 campaign dates: October 1-31
• All high schools encouraged to participate
138 schools
registered thus far!
• See “Professionals” at
EducationQuest.org for
details
41. • REGISTER with the Coordinating Commission
• Track your students’ FAFSA completions
• CCPE will run weekly reports beginning in October
– Shows students’ FAFSA status (started, submitted, missing
signature, completed, etc.)
• Watch Counselor Bulletins, listserv for details
42. What’s new for students?
EducationQuest
EducationQuest App!
Provides easy access to:
• Activities Resume
• College Profiles
• College Timeline
• FAFSA Tools
• Reality Check
• ScholarshipQuest
There’s also a College Planning Calendar
that students can personalize with their
own tasks.
General Notes:
Introduce yourself – if not already done
Explain that EQF is a nonprofit organization that helps with college planning and financial aid
Provide a quick overview of the CP Handbook – point out the Getting Started, Finding a College, and Nebraska Colleges sections – focus will be on the Paying for College section
Use this slide if video won’t work
At an FAP, refer them to the FAP Scholarship handout
For other two scholarships, refer to website for details.
At an FAP, refer them to the FAP Scholarship handout
For other two scholarships, refer to website for details.
Refer to the loan chart on page 10.
Interest rate is for undergrad.
Refer to the loan chart of page 10.
See bottom of page 10 for criteria that would make a student independent.
Apparently answers are not case sensitive any more. Maybe point out some of the “better” choices for challenge questions/answers (ex: something that will never change, answers that are one word).
Apparently answers are not case sensitive any more. Maybe point out some of the “better” choices for challenge questions/answers (ex: something that will never change, answers that are one word).
Apparently answers are not case sensitive any more. Maybe point out some of the “better” choices for challenge questions/answers (ex: something that will never change, answers that are one word).
Assets include
Checking
Savings
Stocks and Bonds
CDs and Mutual Funds
Rental property
2nd residence
College Savings Plan
Assets include
Checking
Savings
Stocks and Bonds
CDs and Mutual Funds
Rental property
2nd residence
College Savings Plan
College sends verification form via mail, email, or college-based student account
Show Pell-eligible award letter from public college
This webpage has links to resources and promotional materials that counselors can use for A2C, FSA ID, FAFSA, and College Signing Day. It also includes details about the FAFSA Completion Initiative.
Even if you don’t hold an event, you may use the free resources including a College Application Checklist.
Research suggests that 90% of students who complete a FAFSA enroll in college within 12 months of filing it