A Day in the Life of College Admissions for Virginia Tech Alumni and

Their High School Students

SCHOLARSHIPS AND FINANCIAL AID

Presented by:VIRGINIA TECH

Dr. Barry W. Simmons SrJuly 11, 2008

WHAT IS FINANCIAL AID?

FUNDS THAT ARE AWARDED THROUGH INDIVIDUAL

COLLEGES TO HELP STUDENTS AND THEIR FAMILIES PAY FOR COLLEGE

WHAT DOES IT COST?

TRAVELOTHER

ROOM/BOARD

TUITION/FEES BOOKS

PERSONAL

HOW TO APPLY

• Free Application for Federal Student Aid (FAFSA)

• CSS Profile, if required• Institutional form, if required• Know the deadlines VT = 3/11

FILE THE FAFSA ON-LINE

HTTP://WWW.FAFSA.ED.GOV

• STUDENT/PARENT INVOLVEMENT

• FOLLOW-UP

INFORMATION REQUIRED

PERSL INFO

PLANS

INCOME

ASSETS

COLLEGES

SIGNATURE

PERSL INFO

INCOME

ASSETS

SIGNATURE

Are your parents divorced or separated?

WHO IS MY PARENT?

Who did you live with the most in the last 12 months?

If you lived with each an equal amount of time; who provided the most financial support?

Re-married parents must supply their spouse’s income even if they

file separate tax returns

?

THREE COMMON MISTAKES

Missing published deadlines

Inaccurate or incomplete data on FAFSA

Not submitting all required application material

• FINANCIAL LITERACY Online Learning Tool– Account Mgmt/Checking– Budgets/Spending Plan– Loan Mgmt/Student Loans– Credit Cards– Identity Theft– Consumer Rights– Debt Mgmt– Other Benefits/Resources

http://www.finaid.vt.edu/nestegg/

TYPES OF AID

• GIFT AID– GRANTS– SCHOLARSHIPS

• SELF-HELP AID– WORK STUDY– LOANS

GRANTS:

Aid that is a GIFT…does not have to be paid back…“free” money

SCHOLARSHIPS

• ATHLETIC• RELIGIOUS AFFILIATION

• CIVIC GROUPS• BUSINESSES

• FIELD OF STUDY

WEBSITE

SCHOLARSHIP SEARCH

FINANCIAL AID WEB PAGES

EFC CALCULATOR

http://www.finaid.org/

Scholarship SearchesFree scholarship searches generally include over

400,000400,000 scholarshipswith a combined worth of over

$1 Billion$1 Billion

College Board

http://www.collegeboard.com/pay

A FREE scholarship search provided by the College Board.

FastWeb

http://www.fastweb.com/

FastWeb also offers expert advice and how-tos on admission, financial aid, selecting a major, choosing a career and more.

FEDERAL WORK STUDY

Allows the student

to “earn” money

for school

LOANS:

• Borrowed money that must be

paid back; • Student is responsible • Low-interest

YOUR BEST FRIEND

• KNOW YOUR COUNSELOR

• VISIT THE GUIDANCE OFFICE

• ASK ABOUT LOCAL SCHOLARSHIPS

FINANCIAL AID OFFICE

• CAN ANSWER BASIC QUESTIONS

• PICK-UP NON-SCHOOL SPECIFIC FORMS

• USE THEIR SCHOLARSHIP LIBRARY

Prepare for College – Planner, Courses Taken, Courses Needed

Apply Online – Admissions application

Select a School – Compare schools, Student Life, Costs

Plan a Career – Self-Assessment, List of Careers

Financial Aid – Programs, Deadlines, etc.

Ask an Expert – FAQs

THE INTERNET

http://virginiamentor.com/http://virginiamentor.com/

http://www.vipnet.org/portal/family/colleges_universities.htm

Start early - Look for scholarships

Know the deadlines

Know the forms required

Start your college file NOW

If you don’t know.........Ask

SUMMARY

THE TASSEL IS…..

…WORTH THE HASSLE!

VIRGINIA TECHOFFICE OF UNIVERSITY SCHOLARSHIPS

AND FINANCIAL AID200 STUDENT SERVICES BLDG

BLACKSBURG, VA 24061

PHONE: (540) 231-5179FAX: (540) 231-9139

EMAIL: FINAID@vt.eduWWWURL: http://www.finaid.vt.edu/