This document provides information about financial aid and the application process. It discusses determining financial need and the cost of attendance. It outlines the key financial aid applications, including the FAFSA and CSS Profile. The document also reviews types of aid such as grants, scholarships, loans, and work study. It provides tips for applying for scholarships and completing all financial aid applications before the priority deadlines. Overall, the document serves as a guide to navigating financial aid and paying for college.

1. Chris George
Assistant Vice Chancellor for Enrollment
& Director of Financial Aid

2.  Financial fit & the value of obtaining a degree
 Be prepared
◦ Terms & Definitions
◦ Applications
◦ Types of Aid
 Scholarships
 Next Steps

3. Adam Looney and
Michael
Greenstone, the
Hamilton Project

4.  No, but excessive borrowing is!
 How much will your payment be?
◦ Loan Balance of $10,000
◦ 6.8% interest rate
◦ Standard 10 year Repayment Plan
A. $105
B. $115
C. $125
D. $135
 For every $10,000 in loan balance, you will pay $115 per
month for 10 years. $3,810 in interest

5.  Don’t borrow more than your first year salary
 What do teenagers think their salary will be? (Charles
Schwab - Teens & Money Survey 2011)
◦ $ 73,000 average expected starting salary
◦ $150,000 average expected salary once established in a
career
◦ $ 50,000 median household income in 2009 (US Census
Bureau)

6.  Welcome to the Financial Aid, I need the
following information:
◦ Salary
◦ Investments
◦ Cash, Savings, Checking balance
◦ Home Value
◦ Taxes Paid
◦ Tax Transcript from the IRS

7.  Colleges have varying deadlines
◦ Priority deadlines
◦ Ask what it means?
 Financial Aid Applications
 Scholarship Applications
 Terms
◦ Start developing a glossary
◦ www.collegeincolorado.org (Financial Aid Planning)

8.  Determines eligibility for
merit based aid
◦ Evaluate GPA
◦ ACT and/or SAT Scores
◦ Extracurricular Activities
◦ Leadership
◦ Community Service
◦ Teacher Recommendations

9.  Establishes the cost of attendance (Sticker Price)
 Evaluates family’s ability to pay by determining an expected
family contribution (EFC)
 Offers financial aid based on the cost of attendance and the
expected family contribution
 Distributes resources in an equitable manner
 Counsels families on financial issues

10.  Cost of Attendance
◦ Direct Costs
 Tuition and Fees
 Room & Board
◦ Indirect Costs
 Books & Supplies
 Transportation
 Personal Expenses

11.  Financial Need
Cost of Attendance
- Expected Family Contribution
Financial Need
◦ Need varies based on cost
◦ Most colleges are unable to meet 100% of
financial need with scholarship and grant aid

12.  FAFSA – Free Application for
Federal Student Aid
◦ Required to determine
eligibility for many
federal, state and institutional
aid programs which can
include
scholarships, grants, work
study and student loans
◦ www.fafsa.ed.gov

13.  CSS PROFILE – College Board
◦ Many private universities and scholarship
providers require the CSS PROFILE application to
determine financial eligibility for institutional
aid programs
◦ University of Denver, Daniels Fund, Colorado
College
◦ profileonline.collegeboard.com
◦ $25 Application Fee

14.  Tips for Completing Applications
◦ Meet Deadlines
◦ You can estimate information on both the FAFSA
and CSS PROFILE applications
◦ Reapply every year
◦ Ensure Social Security Number is correct
◦ Send applications to the correct institutions
◦ Ask questions if you are unsure

15.  Financial Aid Office & Website
◦ Webinars / Chats / Videos / FAQs
 Application Completion Events
◦ High School
◦ College Goal Sunday
◦ Financial Aid Office
 Department of Education
◦ @FAFSA
◦ http://studentaid.ed.gov

16.  Scholarships & Grants
◦ Need-based, merit-based, or a combination
 Federal & State Grants
◦ For lower income students & families
 Student Employment
◦ Students work on campus 10-20 hours a week
◦ Paid hourly wages
◦ Great way to gain valuable work experience
 Loans
◦ Direct Stafford, Parent PLUS, and private

17.  Civic Groups/Organizations (Rotary, Lions, etc…)
 Religious Organizations
 Corporations (Target, Coca Cola, Ford, etc….)
 www.fastweb.com or www.scholarships.com
 Facebook App: My College Dollars
 High School Counselor
 College or University Financial Aid Office Website

18.  Search and apply to scholarships as soon as
possible
 Answer all optional questions on scholarship
search sites
 Apply to every scholarship for which you are
eligible
◦ Scholarships for less than $1,000 often have
fewer applicants
 Persistence pays, skill and luck are involved
 Meet deadlines
Mark Kantrowitz: www.finaid.org

19.  Tailor your application to sponsor’s goals
 Clean up your online profile
◦ Perform a Google search on your name
◦ Review public profile on
Facebook, LinkedIn, Twitter, & YouTube
 Print, read and speak your essay to correct
spelling and grammar mistakes
 Use multiple FREE scholarship search sites
 If you have to pay to get money, it’s
probably a scam
Mark Kantrowitz: www.finaid.org

20.  Comparing Financial Aid Offers
◦ Grants and Scholarships
◦ Self-help Aid
 Work Study
 Direct Stafford Loans
◦ Additional Loan Resources
 Parent PLUS or Private Loans

21.  Make financial aid part of your college visits
 Do a bit of detective work!
◦ How does the college treat private scholarships?
◦ On average how much need does a college meet?
 Have Family Discussions
 Utilize Net Price Calculators
◦ Multi-year investment and costs
◦ Factor in tuition increases
 Inform colleges about special circumstances
 Investigate and apply for private scholarships

22. Chris George
Asst. Vice Chancellor for Enrollment &
Director of Financial Aid
@CGeorge_DU
303-871-4020
finaid@du.edu
A copy of the presentation is
available at:
http://duadmission.typepad.com/blog/