University High School, December 1, 2015, 6-7pm Building Bridges to Post-Secondary Success Session...
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University High School, December 1, 2015, 6-7pm Building Bridges to Post- Secondary Success Session 3: How Do I Pay for College? Please remember to enjoy some refreshments before and after the session in the culinary arts lounge outside the PAC.
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Transcript of University High School, December 1, 2015, 6-7pm Building Bridges to Post-Secondary Success Session...
University High School, December 1, 2015, 6-7pm
Building Bridges to Post-Secondary Success
Session 3: How Do I Pay for College?Please remember to enjoy some refreshments before and
after the session in the culinary arts lounge outside the PAC.
Goals
To ensure families have the needed information to guarantee students the opportunities to pursue post-secondary education, regardless of their financial status.
Essential Questions
• What kinds of financial assistance is available for students wanting to pursue post-secondary education?
• How does a student apply for financial aid?
• What kinds of documentation is necessary when applying?
• Where is help available?
Introduction of Guests
• Dr. Scott McClanahan, Director, Office of Advanced Academic Studies, Waco ISD
• Ms. Robbie Stabeno, Director of Scholarships and MAC program, Waco Foundation
• Ms. Isabel Lozano, College and Career Readiness Counselor, University High
• Ms. Marlayna Botello, Project LINK, University High
• Ms. Brittany Davis, Project LINK, University High
• Ms. Shawntee Reed, College and Career Readiness Counselor, Waco High
• Ms. Gil Hall, Executive Secretary, Office of Advanced Academic Studies, Waco ISD
MAC College Money Program makes sure that finding money for college is easy for anyone in McLennan County who wants to get a degree.
Financial Aid and the FAFSA
How do I get money for college and
where do I start?
Financial Aid Reality CheckCollege costs are up and financial aid is down:
Dependent Student Independent Student
Maximum Pell Grant $5,775 $5,775
Maximum Loans (for an incoming Freshman)
$5,500 $9,500
Total $11,275 $15,275
Reality Check: Without other funds what colleges can you afford?
How do I pay for College?
CollegeforAllTexans.com
Research Scholarships• Check on scholarship through
employers, banks and other businesses.
• Scholarship search engines Scholarships.com College Board Cappex Zinch Fastweb CollegeNet
• Read over financial aid info on the websites of the colleges you are considering. Check out scholarship opportunities and deadlines.
• Apply for Scholarships at all colleges to which you apply for admissions.
Four Types of Scholarships
• College/University Specific• Criteria Based
Academic Athletic Financial Participation/Talents/Characteristics Community Service/Clubs
• Contest• Military – ROTC Scholarships
Ways to Pay!• Free Money
• Grants• Scholarships
• Student Loans/Parent Loans• Federal Subsidized or
Unsubsidized• Conditional Loans
• Wages• Work Study on Campus• Job off Campus
• College Savings • Traditional Savings Account• College Savings Plans - 529
The FAFSA• Complete at FAFSA.gov or make an appointment with us.
• The FAFSA is released Jan 1st
• The earlier the better, but most colleges request it by at least March 1st
• State of Texas priority deadline is March 15th • If your college is out of state their priority deadline may
be even earlier
Submit your Free Application for Federal Student Aid (FAFSA) as soon as you can after January 1st
– Use estimates if necessary and update your FAFSA later
The FAFSA:How It Works
The EFC number determines your need and the college uses it to award Federal, State and Campus Based Aid.
A FAFSA must be submitted every year you’re in college to receive federal aid.
fafsa.govCan be completed after January 1Deadline for State Funding: March 15
FAFSA: Free Application for Federal Student Aid
EFC: Expected Family ContributionSAR: Student Aid Report
FAFSA EFC SARYour SchoolsUp to Ten!
The FAFSA:Dependency
If you are under the age of 24 when you submit your FAFSA, you will need to report parents’ financial information unless any of these apply to you.
• You are married• You are pursuing a graduate degree• You are or have been on active duty• You have children or dependents you
support• Your parents are both deceased• You are or were a ward of the court, in
foster care, or an emancipated minor• You are under a legal guardianship, as
determined by the court • You are homeless or at risk of being
homeless• There are special circumstances You must have supporting documents
Federal Student Aid IDfsaid.gov
A FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature.Student and Parent must each create an FSA ID
The FAFSA: Parent Information
You will need to report the tax information of your biological, adopted or step parents.
No one else can be reported as a parent.
If your parents are divorced, choose the parent you are living with or stayed with the most over the last year.
If you don’t live with a parent you will report information on the last parent you lived with. It does not matter who claims you on their
tax return or pays child support for you.
The FAFSA:Your Financial Info
You will need to report your own income information from any W-2 you receive even if you don’t file a tax return.
The FAFSA: Your Assets
You will have to report any money in accounts under your name
Your assets will count against you more than your parents’ assets
Since you report current assets, you want your bank accounts at their lowest when you submit your FAFSA.
The Award Package will cover up to your Student
Need
Cost of Attendance
*
Less EFC
Student Need
*Total cost including tuition, fees, books and living expenses
Student Loans:The basics
• Go into repayment 6 months after you stop attending college
• Student is responsible!• Amount limited by year and lifetime limits• Low Interest Rate• Some are interest free while in college
(Subsidized Loans)• Federal and State loan programs
There are also parent loans available
Federal TEACH Grant
• Not Need Based• You must sign a contract to teach for 4
years• If you do not teach after graduating, this
grant becomes a loan you must pay back
Always Check Your Financial AidNever assume your college has all the paperwork they need from you:
• Read your Student Aid Report
• Check for emails from you college
• Contact financial aid at your college
• Your college’s Financial Aid department is separate from their Admissions department
Need Help with the FAFSA?
The MAC College Money Program offers free assistance to anyone needing help with the FAFSA and have done so for 20 years.
We help complete
around 2,000 FAFSAs per
year!
MAC College Money Program
• Every high school senior in McLennan County may apply to the MAC College Money Program before May 1st
• We offer a MAC Grant and a MAC Scholarship
• You can apply online at WacoFoundation.org
A few of our recipients
MAC College Money Program
• MAC Grant Eligibility Criteria
• Student graduated from a McLennan County High School or GED Program
• Student’s family earns less than $50,000 or has special circumstances
• Student submits a MAC College Money Program Application by May 1st of his or her high school senior year
MAC College Money Program
• MAC Grant• Covers the tuition left over from other
scholarships and grants up to $1,000 per semester for two years
• The MAC Grant may only be used at MCC or TSTC, unlike the MAC Scholarship
Why Submit A MAC College Money Program Application?
• No cost to you, we only require that you submit a FAFSA and MAC Application by May 1st
• Even if you are not planning to attend MCC or TSTC, the MAC Scholarship for your 3rd and 4th year still requires an application your senior year of high school.
• Even if your family currently makes more than $50,000, if your situation changes you can be reconsidered in the future but you must have initially applied in high school.
MAC College Money Program
• MAC Scholarship Eligibility Criteria• Student has earned 60 college credit hours and has a
cumulative GPA of at least 3.0
• Student has been accepted into the MAC College Money Program
• Student submitted a MAC Scholarship Application by December 1st of his or her college sophomore year
MAC College Money ProgramMAC Scholarship
• $5,000 scholarship ($1,250 per semester) for two years or until you receive your Bachelor's degree at any college or university whichever comes first
• Of the MAC Scholarship applicants who plan on transferring to Baylor University for their last two years, the applicants with the top three GPAs will receive a full scholarship
To receive the MAC Scholarship, a student must have submitted their MAC College Money Program application by the end of their high school senior year, so apply now even if you aren’t going to MCC or TSTC!
Questions
Need More Help? Give Us A Call and Make An
Appointment!• Robbie Stabeno, MAC and
Scholarships [email protected]
• Jessica McAdoo, MAC Program [email protected]
• Look for us online: WacoMAC
WacoMACwacomac.wordpress.com
• Find us at the Waco Foundation:
WacoFoundation.org
1227 N Valley Mills, Ste 235
Waco, TX 76710
Phone: 254.752.9457Fax: 254.753.2887
