2. GOALS
What Financial Aid Is
Terms & Acronyms
Types & Sources of Aid
Application Process & Forms
Creative Ways to Pay
Timeline
3. INTERNATIONAL OR
FOREIGN STUDENTS
Defined as:
Students that will need a visa (F-1) to
study in the United States
4. WHAT IS FINANCIAL AID?
Money supplied by a source outside the
family to help pay for the cost of education.
In reality, many colleges separate
Financial Aid (need-based)
Scholarships (merit-based)
5. FINANCIAL AID IS...
An assistance device
Not designed to replace a family’s (primary)
contribution
Not based on what the parent’s would LIKE to pay
7. Need Based
Merit Based
Need Blind
TERMS
Need Aware (Most US Colleges & Universities)
8. EXPECTED FAMILY
CONTRIBUTION
Parent’s Contribution
+ Student’s Contribution
Expected Family Contribution
Calculated ability to pay may not match
family willingness to pay!
9. DETERMINING NEED
Cost of Attendance
- Expected Family Contribution
Eligibility or Financial Need
COA
• Billable Costs: Tuition, Room &
Board, Fees, Health Insurance
• Indirect Costs: Books, Spending
Money, Transportation from Manila,
etc.
10. SOURCES OF AID
Institutional
Private
Student/Family
Community Organizations
Civic Groups
Religious Organizations
Businesses
Industry
11. Measure of Quality
Academic
Athletic
Artistic
Special Characteristic
Family resources not a factor
Award levels based on sponsors’
goals, institutional priorities and
funding levels
Always double check to see if merit aid is an “automatic”
process or a separate application.
12. Family ability to pay
Eligibility may vary
Cost of college
Availability of funding
College calculates family
contribution
College awards aid based on level
of need and available funding
14. APPLYING FOR FINANCIAL
AID
Research required: forms and deadlines
International Financial Aid Form
CSS/Financial Aid PROFILE
College-Specific Forms
15. INTERNATIONAL STUDENT
FINANCIAL AID APPLICATION
College Board Generic Form
School based form
Be sure to use the form
the school asks for!
16. CSS/FINANCIAL AID
http://student.collegeboard.org/css-f inancial -aid-prof i le
Verify if the university also requires CSS Profile
Beyond the FAFSA: Medical
expenses, elementary and
secondary school tuition, home
equity, variety of unusual
circumstances
Tailored to an institut ion
Popular with ED schools
Fee based form
PROFILE
17. FORMS & DOCUMENTS
Parent tax returns
Student tax returns
Divorced or separated parent information
Other information to verify
Income
Assets
Family Size
Special circumstances
20. IB COURSE WORK
Credit Or
Scholarships
http://blogs.ibo.org/funding-opportunities/
Did you know that most
Florida universities will
grant a full year of credit for
an IB Diploma score of 32?
Also Southern Methodist,
Ohio Wesleyan, U of
Minnesota, Oregon State,
and other public
universities
21. NON-RESIDENT TUITION
SCHOLARSHIP
• Oklahoma State
• Colorado State
• Auburn
• U of Texas
• U of Washington
• Idaho State University
• Minnesota State University Campuses
22. WOMEN’S COLLEGES
Women’s colleges are
traditionally generous with
scholarships for international
students.
25. CO-OP EDUCATION
Work, Make Money, Earn Credit at the
SAME TIME!
• California Polytechnic State
University, Sam Luis Obispo
• University of Cincinatti
• Georgia Institute of Technology
• Johnson & Wales
• Kettering
• Long Island University, CW
Post
• University of Louisville
• UMass, Dartmouth
• Merrimack College
• Miami Dade College
• University of Michigan,
Dearborn
• Northeastern University
• Pace University
• Rochester Institute of
Technology
• University of Toledo
27. JUNIOR YEAR
SEE YOUR COUNSELOR
Determine what your real level of need is
Research colleges and financial aid websites
thoroughly
Talk to representatives who visit ISM. They don’t
work for the Financial Aid office, but can provide
some insight.
Do well academically
28. THE STRATEGY (SUBSTANTIAL NEED)
Narrow down to one school by May for Early Decision
Have all testing done by October
If not ED, then ED II
Check your ego at the door
Trust in your counselor
29. Amherst
Dar tmouth
Harvard
MIT
Princeton
Yale
NYU Abu Dhabi
NEED-BLIND
30. SELECTIVE PRIVATE COLLEGES
Wi l liams
Swar thmore
Middlebury
Carleton
Haver ford
Vassar
Hami lton
Grinnel l
Smith
Colby
Bowdoin
Bates
Colorado
Colgate
Occidental
31. SENIOR YEAR: 1ST
Get organized
SEMESTER
Deadlines: Scholarship/Aid deadlines might be earlier
Complete college applications
Register for CSS Profile if needed
Gather information needed for:
CSS Profile
International Financial Aid Form
Check each university’s website
32. SENIOR YEAR: 2ND
February – April
SEMESTER
Receive award letters
Evaluate awards
Contact University if necessary
Make decisions
April – June
Follow university’s procedures
Send required forms
Signatures
Deposit
34. POINTS TO REMEMBER
US View: Paying for university may require some
sacrifice (vacations, helpers, etc.)
Deadlines vary by institution
Write or call the institution if any information is
unclear or if there are any unanswered questions
(DO NOT ASSUME!)
Be prepared to provide documentation of family
resources
35. POINTS TO REMEMBER
Some aid requires you to re-apply every year
Some aid may be contingent on grades/GPA to
maintain aid
Keep copies of forms completed as well as
supporting documentation
Tax forms
Employer ’s statements
Bank statements
36. THANK YOU FOR
COMING!
This presentat ion wi l l be posted on the HS
Guidance blog in the next week.
ht tp: / /guidance. ism-onl ine.org/
Editor's Notes
Fee based
More comprehensive than FAFSA
Popular with Early Decision Schools
Feedback from a US institution that requires the CSS Profile: In terms of the CSS: we previously used the FAFSA to then award internal grants and scholarships, whether they be merit or need based. With that being said, enough essential data is left out of the FAFSA that it makes it very easy for people who have a wise account to appear needy when in fact they are not – all based on how they present income. Therefore, the CSS examines key areas that the FAFSA does not look at, like medical expenses, elementary and secondary school tuition, home equity, and a variety of unusual circumstances – and it given that the CSS is for the most part tailored to the institution, it combines this information with institutional goals and priorities to come up merit and need based scholarships. Mind you, this is institutional money, money that belongs to the institution as opposed to federal, so we are legally allowed to distribute it as we see fit. When we began using the CSS, we were not trying to cut the amount of money we were distributing – we were just trying to do a better job distributing it. For example, before the CSS, a family was not required to include information about any vacation homes – so with a clever accountant, a family could hide a vacation home and make it appear that they were needy, thus getting the same amount of financial aid as a legitimately needy family. But adding the CSS, we can see these additional properties, and redistribute aid to those who are in fact needy
Fee based
More comprehensive than FAFSA
Popular with Early Decision Schools
Feedback from a US institution that requires the CSS Profile: In terms of the CSS: we previously used the FAFSA to then award internal grants and scholarships, whether they be merit or need based. With that being said, enough essential data is left out of the FAFSA that it makes it very easy for people who have a wise account to appear needy when in fact they are not – all based on how they present income. Therefore, the CSS examines key areas that the FAFSA does not look at, like medical expenses, elementary and secondary school tuition, home equity, and a variety of unusual circumstances – and it given that the CSS is for the most part tailored to the institution, it combines this information with institutional goals and priorities to come up merit and need based scholarships. Mind you, this is institutional money, money that belongs to the institution as opposed to federal, so we are legally allowed to distribute it as we see fit. When we began using the CSS, we were not trying to cut the amount of money we were distributing – we were just trying to do a better job distributing it. For example, before the CSS, a family was not required to include information about any vacation homes – so with a clever accountant, a family could hide a vacation home and make it appear that they were needy, thus getting the same amount of financial aid as a legitimately needy family. But adding the CSS, we can see these additional properties, and redistribute aid to those who are in fact needy