2013 Stacy Watts presentation

5/23/2013 1www.collegenowgc.org

Financial Aid Options for Foster Youth

www.collegenowgc.org


What is Financial Aid?

Money to help students pay for their college education

(not always FREE!)


Types of Financial Aid

There are three types of financial aid:

1. Gift money• Grants & scholarships

2. Earned money• Federal work study

3. Borrowed money• Education loans (federal & private)


What is the FAFSA?

• Free Application for Federal Student Aid

• Why should I complete it?– Generates every type of financial aid

• When should I complete it?– After January 1 of High School Senior Year

• How should I complete it?– Complete the FAFSA at www.fafsa.gov



FAFSA Dependency ?’s


FAFSA• You need to complete it every year to get

financial aid

• File your FAFSA by your school’s priority filing deadline– February 15th is a common deadline


Expected Family Contribution (EFC)

• The EFC is what the Department of Education feels the family can contribute to the cost of the student’s education– Is it fair? Most people think “no!”

• The EFC does not change from school to school


Student Aid Report (SAR)

• Summary of your FAFSA information

• It is sent electronically to the schools you have listed on your FAFSA

• Schools will use the information from your SAR to help determine your financial aid


Cost of Attendance (COA)

Tuition & Fees

+ Room & Board

+ Books & Supplies

+ Personal Expenses

+ Transportation

Cost of Attendance


Financial Need

Cost of Attendance

- Expected Family Contribution

Financial Need

Financial Need is used to determine what type of financial aid a student will receive


Award Letter

• Award letters sent from schools in late March or the beginning of April

• Compare award letters for:– Gift Money – Earned Money– Borrowed Money– Unmet Need


Extra Monies Available

• ETV• College Bound (Cuyahoga

County)


ETVThe Ohio Education and Training Voucher Program is a federally-funded, state-administered program designed to help youth who were in foster care. Students may receive up to $5000 a year for qualified school related expenses. Funding is limited and available on a first-come, first-served basis to eligible students. Applicants must complete the ETV application which includes documentation each semester that is sent directly from the school to ETV confirming enrollment, the cost of attendance (COA) and unmet need.

ELIGIBILITY REQUIREMENTS

1. You must be a current or former foster student who:

– was in foster care on your 18th birthday and aged out at that time. – OR

was adopted from foster care with the adoption finalized AFTER your 16th birthday.

– ORwill have your foster care case closed between the ages of 18 and 21.


ETV – cont.2. You must be a U.S. citizen or qualified non-citizen.

3. Your personal assets (bank account, car, home, etc.) are worth less than 10,000.

4. You must be at least 18 but younger than 21 to apply for the first time. You may reapply for ETV funds, if you have a current grant, up to the age of 23.

5. You must have been accepted into or be enrolled in a degree, certificate or other accredited program at a college, university, technical, vocational school. To remain eligible for ETV funding, you must show progress toward a degree or certificate.

6. Apply or re-apply after July 1st.

website: www.statevoucher.org

http://www.statevoucher.org/


Finding Scholarships

because they aren’t going to find you.


Where to start?

The college that you

want to attend.


Dedicated Scholarships Foster Youth:Foster Care to Success• www.fc2success.org

Adopted Youth:UMPS Care Charities• www.umpscare.com/AllStarScholarship

Children’s Action Network• www.childrensactionnetwork.org/scholarship

http://www.fc2success.org/

http://www.umpscare.com/AllStarScholarship

http://www.childrensactionnetwork.org/scholarship


Strategy # 1:

Think Local– Local civic organizations, churches, your high school,

your place of employment all might offer scholarships.

– Your chance of getting a scholarship goes up the more local it is!


Strategy # 2:

Think Specific– Scholarships are available for students based on

academic achievement, for certain majors, for underrepresented students, etc.

– There are scholarships for specific people; as specific as YOU!


Strategy # 3:

Think Easy

−Apply to the most obvious scholarships first.


Applying for Scholarships

• Be sure you meet all deadlines

• Understand what is required for submission

• Follow up in a timely manner if you have not heard from awarding institution


The Essay Step 1:

• Choosing a topic– Are you answering the question– Do you have enough information to support your topic– Is your topic too controversial or too boring– Is your topic unique or can you put a unique spin on it


The Essay Step 2:

• Writing your essay– Use the essay as a chance to separate yourself from

other applicants– Write so people understand what you are saying– The body of your essay should support the

introduction


The Essay Step 3:

• Proofing an essay– Ask at least two honest and qualified people to read

over your essay

– If you quoted something make sure you cited it correctly

– Make sure each word counts


Don’t do this . . . Eye halve a spelling checker

It came with my pea sea,It plainly marquees four my revue

Miss steaks eye kin knot sea.

Eye strike a key and type a wordAnd weight for it two say,

Weather eye am wrong oar writeIt shows me strait a weigh.

As soon as a mist ache is maidIt nose bee fore two long,

And eye can put the error riteIts rare lea ever wrong.


Beware!

• Not all scholarship providers have your best interest in mind!– Watch out for:

• Application Fees• Guaranteed Winnings• Too-good-to-be-true offers

5/23/2013 28www.collegenowgc.org www.collegenowgc.org

Questions?

5/23/2013 29www.collegenowgc.org www.collegenowgc.org

Stacy WattsResource Center Coordinator

216-241-5587, ext. [email protected]

mailto:[email protected]

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