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Paying for College: From Zero to Hero


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Paying for College: From Zero to Hero

  1. 1. ACT Conference Paying for college: from zero to hero<br />Presented <br />By<br />Stephen Rogers<br />
  2. 2. Who Am I?<br />Steve Rogers manages outreach for the Utah Higher Education Assistance Authority (UHEAA)<br />
  3. 3. People with a bachelor’s degree account for less than 12% of unemployment claims filed. Utah Department of Workforce Services Profiling Job Loss Through Initial Unemployment Claims July/August 2009<br />
  4. 4.
  5. 5. UHEAA’s Mission<br /><ul><li>… to inform, educate, guide, and assist all students and parents with making informed decisions about preparing,participating,completing,andpaying for Higher Education in Utah, with a priority and emphasis in serving low-income, first generational, and ethnic minority students.</li></li></ul><li>What is College Goal Utah?<br />Adapted from NASFAA’s College Goal Sunday<br />1989, Indiana Student Financial Aid Association<br />Assist students with financial aid preparation and eligibility<br />Funded by Lumina Foundation<br />Private educational research firm, Indiana<br />3 year grant cycle<br />Target = Low Income & Non-Traditional Students<br />FAFSA Completion<br />Staffed by financial aid professionals<br />Sunday after Super Bowl, 2:00 p.m. to 4:00 p.m.<br />This day/time can be modified for Utah<br />35 states participated in 2008<br />
  6. 6. CollegeGoalUtah Concept<br />Identify Utah High Schools Demonstrating – <br />Location (need)<br />Size: High Volume of Seniors<br />25-50% FRLR, <br /> lower SES<br />Under-represented, rural, high minority<br />Navajo Reservation<br /> State wide effort<br />
  7. 7. College Goal Utah Model<br />High School Coordination<br />Principal, Counselors, Financial Literacy Teachers<br />Schedule Classroom Time<br />Financial Literacy Courses<br />General Financial Aid Overview & FAFSA<br />Advertise College Goal Utah Nights with Postcard<br />Computer Space & Ensuring Coverage (CGU Nights)<br />Train counselors & financial literacy teachers, 3:00 – 4:00 p.m.<br />Assist students with FAFSA completion, 4:00 p.m. – 7:00 p.m.<br />CGU Dates <br />Early February - April<br />
  8. 8. What to Bring on CGU Night?<br />Don’t be afraid to bring your friends, a league of experts is there to help<br />
  9. 9. We need to prepare and make<br />Use of the strengths these new <br />Faces will bring to our state.<br />SOURCE: WICHE, Knocking on the College Door, 2008<br />
  10. 10. Are Students Applying Under Current Model? <br />Percentage of low-income students completing the FAFSA has increased<br />In 1999-2000, 57% of low-income undergraduates applied<br />In 2007-08, 68% of low-income undergraduates applied<br />But because the overall numbers of students has also grown, we have lost ground <br />In 1999-2000, 3.3 million low-income undergraduates did not apply<br />In 2007-08, 3.6 million low-income undergraduates did not apply<br />Source: OPE Analysis of National Postsecondary Student Aid Study (NPSAS 2008, 2004, 1999, and 1995)<br />
  11. 11. College Goal Utah’s Goals & Objectives<br />1) Compliancewith Federal Financial Aid Regulations<br />2) Increase early awareness & preparation of financial aid programs<br />3) Implementation of college and financial aid evenings, including regional FAFSA workshops.<br />4) Development of Utah high school and college partnerships.<br />5) Promote Utah Futures & FAFSA Completion.<br />6) Provide ongoing professional development for middle and high school counselors<br />7) Build & maintain business and education partnerships working towards increasing the college going rate.<br />
  12. 12. Financial Aid 411<br />
  13. 13. Types of Aid <br />Work-study<br />Grants<br />Scholarships<br />Student Loans<br />Savings<br />
  14. 14. Scholarships<br />Institutional <br />Merit <br />Leadership <br />Diversity Academic Department<br />Private <br />Community Service <br />Heritage <br />Interest/hobby based<br />Employer<br />
  15. 15. Deadline<br />Application <br />Essay <br />Letters of recommendation <br />Save outstanding writing assignments!<br />Preparing for Scholarships<br />
  16. 16. Follow the directions<br />Tailor your essay to the scholarship<br />Be yourself, and be memorable <br />Write about something you care about<br />Give examples <br />Be honest<br />Spelling & grammar check (have two readers)<br />Scholarship Essays<br />
  17. 17. ACT efforts <br />Get to know your recruiter<br />Get involved<br />Search beyond institutions <br />Deadlines! <br />Convince the committee that you’re the perfect fit <br />Show your plan for success <br />Demonstrate your financial backup plan<br />Eight Tips from the Experts<br />
  18. 18. Institutional Ambassador Programs<br /> Resident Advisor <br />AmeriCorps <br /><br /><br /><br />Other Scholarship Resources<br />
  19. 19. April 21, 2010<br />
  20. 20. New Century Scholarship- Overview<br />March 2011<br />21<br />Purpose<br />This scholarship encourages students to accelerate their education by earning an Associate’s degree while in high school<br />Background<br />Created in 1999<br />Initiated by former Governor Leavitt <br />In the 12th year award cycle<br />
  21. 21. New Century — Program Requirements<br />March 2011<br />22<br />Application Deadline has Passed <br />2011 Applicants must:<br />Earn Associate’s degree by the date of high school graduation<br />Earn a minimum 3.0 college GPA<br />Achieve a minimum high school GPA of a 3.5<br />Home School Student<br />Must earn an ACT Score of 26 or higher, score submitted by June 15<br />Verify they have no criminal record<br />Meet Citizenship requirement<br />
  22. 22. New Century — Application Timeline<br />March 2011<br />23<br />Application Timeline for 2011 High School Graduates<br />
  23. 23. Regents’ Scholarship - Overview<br />24<br /><ul><li>Established in 2008
  24. 24. Based on nationally-recognized foundational core designed to help students prepare for college academically and financially</li></ul>Fact: Students can qualify for 1, 2, or 3 of the awards. For example a student can qualify for the Base award only, Base and UESP, Base and Exemplary, or Base, Exemplary and UESP.<br />Regents’ Scholarship<br />
  25. 25. Regents’ — Application Timeline<br />25<br />A complete application file consists of: <br />The application itself which is submitted online (2011 Deadline Passed)<br />Supporting documents which must provide evidence of what the student reported on the online application is true and accurate--these documents are mailed<br />Note: All deadlines are postmarked deadlines unless otherwise stated.<br />
  26. 26. Scholarship Funding <br />March 2011<br />26<br />Award Levels for 2011-2012 College Academic year<br /><ul><li>The Regents’ Scholarship Base award will be a $1,000 one-time payment;
  27. 27. The New Century Scholarship award and Regents’ Scholarship Exemplary Academic Achievement award will be aflat dollar amount of $1250 per semester and issubject to the student renewing it each semester and the flat rate will be applied to all scholarship participants; and
  28. 28. The Regents’ Scholarship Utah Educational Savings Plan award is subject to contributions to your UESP trust account and is a one-time payment.</li></ul>  <br />The Award amounts are determined on an annual basis and are subject to legislative funding and number of qualified participants.  Therefore, award amounts may be reduced, may vary from year to year, and are dependent on when the recipient is enrolled in college. Funding levels beyond Spring of 2012 are unknown and the award amounts will be determined in April of each year. However, the maximum New Century award and the Regents’ Scholarship Exemplary Academic Achievement award amount that a student may receive is $1250 per semester.<br />
  29. 29. Things to Consider…<br />March 2011<br />27<br />Student should look to ALL financial aid opportunities<br />If possible diversify, rather than relying on one<br />Other Financial Aid Options<br />Saving for College through the Utah Educational Savings Plan program<br />Work while attending school<br />Private Scholarships/grants<br /> --visit<br />Federal Financial Aid<br />Loans, Grants and Work Study<br />
  30. 30. Where to Find Scholarships Information<br />To access the scholarship information<br /><br />Click on “Scholarships”<br />Click on the specific program that you want to access<br />28<br />
  31. 31. Scholarship Contact Information<br />March 2011<br />29<br />New Century<br /><br />801-321-7221<br />Regents’ Scholarship<br /><br />801-321-7294 (students and parents)<br />801-321-7159 (school personnel)<br />
  32. 32. In the Face of Overwhelming Odds…<br />
  33. 33. Process Improvements<br /><ul><li>Use of newer, state of the art Web technology – Web 2.0
  34. 34. Populate with data directly from the IRS
  35. 35. Increased use of ‘skip-logic’
  36. 36. Provide applicant with types and amounts of aid likely to receive
  37. 37. Working with states and schools</li></li></ul><li>Technology<br />Status indicators will guide applicants through web modules (e.g., student demographics, basic eligibility, dependency status). <br />Student and parent sections of the application will be more clearly identified.<br />Dynamic question labels, help text and instructions based on applicant profile (e.g., marital status, responses to tax filing status, type of tax return filed).<br />
  38. 38. Technology<br />2010-11 design facilitated by technology upgrade <br />Updated navigation reduces the number of pages and length of the application<br />Display of help text and instructions will be enhanced by:<br />use of field instructions<br />flyover text<br />modal boxes<br />
  39. 39. Technology<br />
  40. 40. Technology<br />
  41. 41. IRS Data Share<br /><ul><li>Populate with IRS Data
  42. 42. No taxpayer consent needed because data is not released to a third party.
  43. 43. While in FAFSA on the Web, applicant (tax filer) submits a real-time request to IRS.
  44. 44. IRS sends real-time results to applicant (taxpayer) in new window.
  45. 45. Applicant (tax filer) transfers data to FAFSA on the Web. </li></li></ul><li>Results Reporting<br />Students will receive more detailed information on their FAFSA on the web confirmation page and Student Aid Report (SAR) <br /><ul><li>An estimate of the Pell Grant award amount
  46. 46. An indication of student loan eligibility
  47. 47. Links to College Navigator for detailed information about the institutions selected:</li></ul>Programs offered, <br />Tuition and fees, <br />Graduation rates, etc. <br />37<br />
  48. 48. Notable News<br />Easy to remember web address:<br /><br /> (never access<br />PIN web address is still:<br /><br /> (real time PIN for applicants) <br />
  49. 49. WHAT IS NEW FOR 2011 FAFSA APPLICANTS – RECAP<br />New, streamlined application facilitated by technology upgrade<br />Reduced screens for applicants to fill out <br />22 questions are eliminated (improved skip logic)<br />17 web screens are eliminated<br />Access to information about schools and states where they apply<br />
  50. 50. RECAP – Continued…<br />Improved Student Aid Report (SAR)<br /> will contain:<br />Will receive more detailed information on SAR<br />Estimate Pell grant <br />Indicate loan eligibility<br />Links to colleges to see:<br />Programs offered<br />Tuition and fees<br />Graduation rates, etc.<br />
  51. 51. <ul><li> Pell
  52. 52. FSEOG
  53. 53. LEAP
  54. 54. TEACH
  55. 55. UCOPE</li></ul>Grants (2011-2012 School Year)<br />
  56. 56. Possible reduction in maximum award amount <br />$5,550 - $845 = $4705<br />Possible changes to year-round grant <br />Pell Uncertainty<br />
  57. 57. Work-Study <br />Work on or off of campus<br />Flexible work schedule<br />What you earn won’t count against you for next year’s financial aid<br />Have to apply <br />Competitive <br />
  58. 58. Student Loans<br />Federal Loan Programs<br />Stafford Loan<br />PLUS Loan<br />Perkins<br />Private/Alternative Loans<br />
  59. 59. Other Federal Aid <br />Robert C. Byrd Honors Scholarship Program <br />Corporation for National and Community Service <br />U.S. Department of Veterans Affairs <br />Reserve Officers Training Corps (ROTC)<br />Bureau of Indian Affairs (BIA) Grants <br />Vocational rehabilitation benefits <br />U.S. Department of Health and Human Services (HHS)<br />
  60. 60. Savings <br />Summer jobs <br />Bank savings accounts <br />CD savings accounts <br />529 Savings Plans<br />
  61. 61. Utah’s official and only 529 college savings plan<br />A 529 plan is a tax-advantaged program to save for higher education expenses.<br />47<br />What Is UESP?<br />Administered by the Utah State Board of Regents and the Utah Higher Education Assistance Authority<br />Direct-sold programA nonprofit agency<br />
  62. 62. Use of the Money<br />Qualified Higher Education Expenses<br /><ul><li>Funds can cover tuition, fees, room and board, books, supplies, and required equipment
  63. 63. Use at any educational institution (including college, technical school, or graduate school in the United States or abroad) that participates in federal financial aid programs for students, not just in Utah (for a list of qualified schools, see</li></ul>48<br />
  64. 64. Tax Benefits<br /><ul><li>Earnings exempt from federal and Utah state income tax if used for qualified higher education expenses
  65. 65. Utah state income tax credit per beneficiary can be claimed up to the following amounts:</li></li></ul><li>After the FAFSA<br /><ul><li>Ask about other forms</li></ul>Contact the schools you are interested in attending and find out what they require for a “complete application”<br />
  66. 66. What if your situation has changed from last year?<br />If you have experienced…<br />Parent lost a job<br />Medical expenses that weren’t covered by insurance<br />Parents divorced<br />You cannot get your parents’ info<br />Any other unusual changes <br />
  67. 67. Contact the school’s financial aid office!<br />What if your situation has changed from last year?<br />
  68. 68. Check with your school about deadlines<br /><ul><li>See if there is a deadline to file your information</li></ul>Make sure you receive your financial aid before classes start<br />Meeting this deadline could also get you access to additional types of financial aid<br /><ul><li>Remember…</li></ul>You’ll need to file a new <br /> FAFSA every year. <br />Make sure to get it in by <br /> the deadline<br />
  69. 69. How much aid do you need?<br />School—Cost of Attendance (COA)<br /><ul><li>Tuition and Fees
  70. 70. Room and Board
  71. 71. Transportation
  72. 72. Books and Supplies
  73. 73. Miscellaneous Living Expenses
  74. 74. FAFSA—Expected Family Contribution (EFC)</li></li></ul><li>How will you know?<br />The school will send an award letter <br />Many times this is online, or through email<br />The award letter will explain what types of aid are available<br />Choose what aid you accept and let your school know<br />
  75. 75. Contact the school’s financial aid office!<br />What should you do if you have any questions or problems?<br />
  76. 76. Questions<br />
  77. 77. Find more information at<br /><br /><br /><br /><br />
  78. 78. Michelle Riddle<br /><br />(801) 321-7145<br />Sumiko Martinez<br /><br />(801) 366-8477<br />Brian Hosie<br /><br />(801) 321-7245<br />Steve Rogers<br /><br />(801) 366-8460<br />UHEAA Outreach<br />