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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: [email protected]: http://www.finaid.vt.edu/
