Upward Bound Math & Science Center
presents
• Welcome / Housekeeping
• Introduction / Why Financial Aid?
• UTA Student Money Management Presentation
• Financial Aid Facts
• College Budgeting
• Scholarship Winning!
• Reminders
• Program Updates
• Closing
What do you know about FA?
Do you have concerns right now about FA?
Have you looked at ways to pay for college?
College | Costs vs Investment?
1. What are costs versus benefits of attending any school? Interest – investments vs. costs
2. How do we get Financial Aid? FAFSA, use tools to help
3. What are Financial Aid resources to use? Grants(first stop), Scholarships, Loans
4. How do I manage my Financial Aid? Know facts, SAR, Awards, Budget
What you should know
Paying for College Video
There is in
Financial Aid Available
Here is the breakdown:
Source: www.Collegeboard.com
Federal Grants/Loans/
Other Aid
College Grants/
Scholarships
State Grants / Scholarships
Private Grants / Scholarships
Grants
Money that does not have to be paid back
Federal Pell Grant ($605 - $5,645)
Federal Supplemental Educational Opportunity Grant (FSEOG)
Texas Public Education Grant (TPEG)
Mav Grant
Maverick Promise
Texas Grant
Federal Work-study
Allows a student to find a job on campus
Employment is not guaranteed
May work up to 19 hours a week
May earn up to the amount awarded
Federal Direct Loans
The Department of Education is your lender
Repayment begins 6 months after graduation or dropping below half time in school
Student must complete the Entrance Counseling and sign a Master Promissory Note online at www.studentloans.gov after accepting the loan
Direct Loan Interest Rates (Typical) school year (undergraduate students)
Federal Subsidized Loans
– Need based
– 3.86% APR (fixed) – Begins collecting interest 6 months after you graduate or drop below
6 credits.
Federal Unsubsidized Loans
– 3.86% APR (fixed)
– Begins collecting interest when disbursed
Federal Parent PLUS Loan
Parent borrows money from Dept. of Education to pay for child’s expenses
Credit Based
6.41% APR
May apply at: www.studentloans.gov
What if my parent is denied for the PLUS Loan?
Student may request an additional Direct Unsubsidized
– If 1st or 2nd year student, then $4000 ($2000 per semester)
– If 3rd or above year student, then $5000 ($2500 per semester)
College Access Loan
Student borrows money from the State of Texas (limit)
Must be a Texas Resident
Credit-worthy co-signer required
5.25% interest rate (2013-2014)
Repayment begins after graduation or after dropping below halftime
Interest accrues while student is in school
www.hhloans.com
Cost of Attendance – Total costs before Financial Aid (Tuition, books, room)
Net Price – Costs remaining after financial aid is applied to the sticker price
EFC – Expected Family Contribution
Bursar – Office that handles billing and payments of college expenses
FAFSA – Free Application for Federal Student Aid
Grant – Free money usually given from Gov. to attend college
Loan – Borrowed money that is payed back with interest (Subsidized/Unsubsidized)
Scholarship – Like a grant but may have different requirements
Work Study – Federal program to give students jobs during their studies
Resources: http://www.collegeforalltexans.com/
https://bigfuture.collegeboard.org/
Financial Need – How it’s determined…
Cost of Attendance
- Expected Family Contribution (EFC)
---------------------------------------------------------
= Financial Need
Need based aid: grants, work study and subsidized loans
Non-need based aid: unsubsidized loans and private loans
Source: https://bigfuture.collegeboard.org/pay-for-college/paying-your-share/focus-on-net-price-not-sticker-price
Collegeboard Net Price Calculator – Participating Schools: http://studentnpc.collegeboard.org/participating-schools
University of Texas at Dallas (UT Dallas) ◦ Net Price Calculator:
LINK
My Estimated Net Price for Academic Year 2015-16 is $
Massachusetts Institute of Technology (MIT) ◦ Net Price Calculator:
LINK
My Estimated
Net Price for
Academic
Year 2015-16
is: $26,604
Its important to take advantage of a vast amount of scholarships that are available for students.
Use search tools to find scholarships that are just for you – ◦ Major Interest – Nursing, engineering (ME,IE,CE,etc.)
◦ Race
◦ Location (born, or living)
◦ Academic or activity involvement (FCLA, Football, UIL, etc.)
◦ Special circumstances – corrective lenses, left-handed, etc.)
◦ More…
Here are a few, we pulled just for today: See next slide
Check these out now: ◦ Houston Scholarship Online Application $9000-$18000
(Deadline: February 1, 2016) http://www.rodeohouston.com/Scholarships/ApplyforScholarships/ScholarshipTypes
Eligibility / Requirements: ◦Be a graduating high school senior at an eligible school
◦Be a US Citizen and a Texas Resident
◦Complete the Free Application for Federal Student Aid available Jan. 1, 2016
◦Plan to attend an accredited, not-for-profit university in the State of Texas
◦ ASME Engineering Scholarships (Deadline: March 1, 2016)
https://www.asme.org/career-education/scholarships-and-grants/scholarship-and-loans/about-asme-scholarships
Eligibility / Requirements: Texas Resident, Engineering Major, etc.
Financial Aid Review / Recap
Who wants to be a college graduate?
Write down one thing you learned…
Topics:
FAFSA- What is it, how to apply, the process (Demo) FAFSA Worksheet
Tips / Resources
Applying for FA
Spring 2016 ◦ FAFSA / Scholarships
Need FSA ID
Watch School Deadlines!!! (Texas is March 1)
◦ Housing / Orientation
May need Housing Deposit
First Come, First Served
◦ Graduation
Stay Active in Program; get your Graduation Cord!
Summer 2016 ◦ Bridge 2016
Starts Monday, July 11; Classes Start Tuesday
Ends with Banquet on Monday, August 15
Students get to take two (2) college-credit classes
Transferable
Get a head start on the college process!
No Cost! We pay for tuition, fees, books, transportation, and room & board
2016 Summer Intent, due Feb 19th
• Tentative Summer dates: June 5th – July 16th
ICCP Activities
• January ICCP & report cards Due Feb. 1st
• February ICCP available next week
• Turn in any missed activities
Online Tutoring
• Join us online on Feb. 18th at 6pm (CST)
Video Conferencing
• Feb (Recording) – Feb 5th
• March (Recording) – March 1st
2016 Bridge Application, due Feb 1st (priority) / Mar 1st (final)
(next week)
UBMS Program Updates
Final Questions?
Remember to fill out and return the feedback form by Friday, February 5th