Understanding College Financial Aid


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Understanding College Financial Aid

  1. 1. Financial aid is money provided to a studentto cover the cost of tuition, room & board,food, books and more. It includes: Loans Grants Scholarships Work-Study Programs
  2. 2. First, complete the Free Application forFederal Student Aid (FAFSA). Available January 1st File Fast Online! Less Than an Hour to Complete File Every Year Who Should Complete It? – EVERYONE!
  3. 3. What are scholarships? - Scholarships are ‘free money’ for college. There are many types of scholarships available, including:  National, State & Local  Need-Based  Merit-Based  Major Specific  Institution Specific & more!
  4. 4. ALMOST EVERYONE! Never assume you are not eligible for aid. Programs vary widely. It just takes a little effort and a solid plan. To solve the scholarship puzzle, follow these simple steps…
  5. 5. Start your scholarship search as soon aspossible. Early Start = More Opportunities Begin at age 13 and keep going! Earn Money Now & Later Less Stress
  6. 6. Finding scholarships is a lot like completing apuzzle; if you jump in without a plan, it mayseem impossible or overwhelming. Yikes! Organize Schedule Time Commit to Winning!
  7. 7. The Internet is your best resource! Useseveral FREE online scholarship searchservices. One of the best isScholarshipExperts.com (rated ‘Best of theWeb’ by Forbes.com since 2003). Never Pay for a Service Be Careful About Sharing Your SS # More Detailed = Better Results!
  8. 8. Students should not rely entirely on theInternet for scholarship opportunities. Othergood resources include: High School Counselors Local Clubs/Organizations Employers College Financial Aid & Departments
  9. 9. After locating scholarship opportunities, youwill need to get organized. Plan to apply for5-10 awards each month, and follow thesesteps: Choose Programs Prioritize by Deadlines Schedule Time for Essays Request Letters (if applicable) Recruit Proofreaders
  10. 10. Once you have narrowed down your list ofscholarships, it’s time to tackle the essays.But, where do you start? What’s my Brainstorm superpower? Make it Personal Tell a Story Think Outside the Box!
  11. 11. Example Question‘Tell us which fairytale story is your favoriteand why.” Answer 1: ‘My favorite fairytale story is Rapunzel. I loved her long hair and fantasized about being trapped in a castle… Answer 2: ‘Rapunzel, Rapunzel, let down your long hair.” I heard this quite a bit growing up. I had this crazy fascination with long hair, which is much harder than the story lets on…
  12. 12. Things to Remember: Grab the Reader From the Start! Stay on Topic Be ConciseThings to Avoid: Using the essay question in your first sentence Laundry Lists Controversial Subjects Turning in Your First Draft
  13. 13. After you complete your scholarshipapplications, double-check the programguidelines to ensure you have included allnecessary elements. Are You Within Formatting Rules? Did You Include All Required Documentation? Make a Copy of Everything Consider Adding a Cover Letter Follow-up With the Provider
  14. 14. Think smarter, not harder. Use previouswork, such as poems, stories and historypapers.Send ‘Thank You’ cards to everyone whohelped with your scholarship application.If you win, always send a ‘Thank You’ note tothe provider, both when you receive theaward and upon completion of your program.
  15. 15. Do not rely on scholarships to covereverything. Be sure to explore other financialaid options, such as grants, loans and work-study programs.Learn more about these programs at:http://studentaid.ed.gov/http://wisechoice.com (Plan & Pay)http://www.finaid.org/loans/
  16. 16.  Are scholarships taxable?  Possibly. Do scholarships affect my financial aid awarded through my college?  Sometimes.Are scholarships automatically renewable?  Sometimes.
  17. 17.  Can a parent apply for a child?  Maybe. Can I submit the FAFSA before senior year?  No.When should I stop applying for aid?  When you graduate.
  18. 18. www.ScholarshipExperts.com Expert advice on scholarships and other forms of financial aid.www.WiseChoice.com Advice on the college admission and application process, paying for college and more.www.FAFSA.ed.gov Access to FAFSA forms, IRS Retrieval Tool and FAFSA4caster.
  19. 19. If you need more information, please feelfree to contact us at: ScholarshipExperts.com 3020 Hartley Rd. #220 Jacksonville, FL 32257 904-483-2930 info@scholarshipexperts.com