This document discusses options for paying for college, including calculating costs of attendance, determining expected family contribution, and types of financial aid. It explains that costs of attendance include direct costs like tuition and fees as well as indirect costs like books and transportation. Expected family contribution is calculated through FAFSA and other financial aid applications. The difference between costs of attendance and expected family contribution is financial need, which can be filled through need-based aid, merit-based aid, or non-need based aid like loans. The document provides recommendations on financial aid and lists external scholarship resources and tips for strong scholarship essays.

1. HowWillWe Pay For
College?:
Scholarship Opportunities &
Resources
Rebecca Joseph, PhD
getmetocollege@gmail.com
Getmetocollege.org/hs

2. Higher Earnings. High Education

3. What Is College EducationWorth?
• Careers
• Healthy Life
• Savings
• Take Care of Families
• Brains on Fire

4. First things first.
How much is college going to cost?
There are two components to this:
Direct Costs & Indirect Costs.

5. Tuition
Fees
Room & Board+
Direct Costs
(if applicable)
Direct Costs are those that are
billed directly by the University.

6. Books
Transportation
Etc.+
Indirect Costs
Indirect Costs are the other miscellaneous
expenses involved with attending college.

7. Direct Costs
Indirect Costs+
Cost of Attendance
Together, these two components make
up the total Cost ofAttendance.
(COA)

8. UC Merced

9. Next, you need to determine how
much you can contribute toward
Cost of Attendance.

10. How Do Colleges Determine How
MuchWe Can Pay?
• FAFSA (fafsa.ed.gov)
• CSS Profile
(https://student.collegebaord.org
/css-financial-aid-profile)
• CA Dream Act
(http://www.csac.ca.gov/dream_
act.asp)
• Cal Grants
(http://www.calgrants.org)

11. Parent Contribution
Student Contribution+
Estimated Family Contribution
The data you provide on the FAFSA is used to
calculate the amount you are expected to contribute.
(EFC)

12. Cost of Attendance
Estimated Family Contribution-
Financial Need
The gap that’s left between what you are expected to
contribute and the total cost is called “Financial Need.”

13. There are 3 types of Financial Aid:
 $ Need-based
 Merit-based
 Non-need-based
Financial Aid is what helps you fill that gap.

14. Financial Aid is what helps you fill that gap.

15. Need-based
 Grants
 FederalWork Study
 Loans
(Federal, State, and College Grants)
(Stafford Subsidized Loan, Perkins Loan)
The first type of aid is determined
solely by Financial Need.

16.  Scholarships (College and Outside Scholarships)
Merit-based
The second type of aid is determined by a student’s
academic accomplishments, not Financial Need.

17. Internal Merit Scholarships
• Go to each college website
• Look for earlier deadlines
• Look for special requirements
• Look for auditions and other opportunities to
shine
• Sports is a world unto itself

18. Emory

19. Claremont McKenna

20. USC

21. Tulane

22. College Greenlight

23. External Merit
• These come in all shapes and sizes
• Never pay for a listing or resource
• Calculate investment time versus return
• There are some major ones and a variety of
others

24. External Merit Scholarships

25. UTLA

26. https://roybal-allard.house.gov/students/

27.  Loans (Stafford Unsubsidized Loan, PLUS Loan,Alternative Loans)
Non-need-based
The final type of aid is available to all students, regardless
of Financial Need or academic accomplishments.

28. The Financial Aid Package
consists of all or any of these.
Need-based Merit-based
Non-need-based

29. COA Across Campuses

30. Financial Aid Recommendations
• If parents make less than $60,000 per year, students and families most likely
won’t have to take out many loans.
• There are more than 50 colleges that meet all need with no loans.
http://www.usnews.com/education/best-colleges/paying-for-
college/articles/2014/09/15/colleges-and-universities-that-claim-to-meet-full-
financial-need
• Educational loans are low interest. Students have ten years to pay them back and
can deduct interest from taxes.They are best investment possible in your child.
• Students should never borrow on credit cards.
• Students can visit colleges for free at the beginning and end of senior year.
http://getmetocollege.org/hs/what-colleges-look-for/fall-2014-free-diversity-
college-visits

31. Just Remember…

32. What CanWe Do Now?
• Save. Every dollars counts.
• Prepare FAFSA-Now PRIOR, PRIOR
• Explain your family finances to your children.
• Build children’s resume.
• Apply for scholarships.
– MALDEF-
http://www.maldef.org/leadership/scholarships/Congresswoma
n Roybal-Allard- https://roybal-allard.house.gov/students/

33. WHO GETSTHESE
SCHOLASHIPS
• Academic leaders
• Specialists in activities
• Talented artists and athletes

34. TheThird Model

35. Tips to Great Essays
• Essays are often reusable
• Scholarships often use traditional college
application essays
• Others have additional requirements:Tulane,
Washington University, Boston University, eg.
• Focus on initiative, leadership, and impact

36. HowWillWe Pay For
College?:
Scholarship Opportunities &
Resources
Rebecca Joseph, PhD
getmetocollege@gmail.com
Getmetocollege.org/hs