Financial Aid & Scholarship Parent Presentation15 16

8/20/2019 Financial Aid & Scholarship Parent Presentation15 16

1/57


2/57

Financial aid consists of funds provided to

students and families to help pay forpostsecondary educational expenses

Includes

Tuition & Fees

Room & Board

Books, supplies, transportation, and misc.personal expenses

Sometimes can include

Loan fees

Study abroad costs

Dependent care expenses

Varies widely from college to college


3/57

Amount family can reasonably be expected tocontribute

Stays the same regardless of college Two components

◦ Parent contribution

◦ Student contribution

Calculated using data from the FAFSAand a federal formula


4/57

Cost of Attendance

– Expected Family Contribution

= Financial Need


5/57

Need-based aid Non-need-based aid Help destroy the Myth! There is some type of

aid out there for almost everyone

My parents make too much money, so I won’tqualify

Only students with good grades get financial aid

You have to be a minority to get financial aid

The form is too hard to fill out


6/57


7/57

• Scholarship:

• Awarded on the basis of merit, skill, financial need or

unique characteristic

• Money that (usually) does not have to be paid back

• Grants:

• Usually awarded on the basis of financial need

• Money that (usually) does not have to be paid back


8/57

‣ Loans

‣ Money students and parents borrow to help paycollege expenses

‣ Repayment usually begins after education is finished

‣ Look at loans as an investment in the future

‣ Employment

‣ Allows student to earn money to help pay educationalcosts

‣ A paycheck; or

‣ Nonmonetary compensation, such as room and board

‣ Hours and duties will vary from position to position andcollege to college


9/57

Federal government

◦

Largest source of financial aid States

◦ Residency requirements usually apply

◦

Use info from FAFSA and/or state application Colleges and universities

Other:

◦

Private sources/civic organizations/churches Requires some research and searches

◦ Employers

Scholarships or education benefits for children

and/or employees


10/57

VA benefits may be available for veterans and/ortheir dependents.

Parent benefits may be transferrable to students

Several different programs

Contact VA representative to determine eligibility.

Colleges have VA liaisons who certify student

enrollment.


11/57


12/57

Federal Pell Grant Federal Supplemental Educational Opportunity

Grant (FSEOG)

Teacher Education Assistance for College andHigher Education (TEACH) Grant

Federal Work-Study (FWS)

Federal Perkins Loan

Subsidized and Unsubsidized Federal DirectStudent Loans (Direct Loans)

PLUS Loans


13/57

• Based on EFC, COA, and enrollment status

(full-time, half-time, etc.)• Generally awarded to undergraduate students• Maximum award for 2014-2015 = $5,730

Annual award $100 to $4,000 a year

Students with the lowest EFC’s must be awardedfirst

Priority goes to Federal Pell Grant recipients

Not all Schools award FSEOG


14/57

U.S. citizen

Be enrolled in course work that is necessary to begina career in teaching or plan to complete such coursework.

Meet certain academic achievement requirements Sign a TEACH Grant Agreement to Serve

Teach full time as a highly qualified teacher at a low

income school in a high need field for 4 years after

degree completion.

If teaching obligation is not completed, TEACH grantfunds will be converted to a Federal DirectUnsubsidized Loan


15/57

Provides part-time employment while studentsare enrolled

Employment may be on or off campus

Even if the student does not qualify for FWSthey may still be able to have an on campus

job!

Students should Inquire about jobs at thecollege’s Student Employment Office

Not all schools participate


16/57

• Priority to students who show exceptional need• Interest rate: 5% fixed• Nine month grace period, repayment may be

up to 10 years• Deferment and cancellation provisions

available for qualifying employment• Not all schools participate• Maximum annual award

– $5,500 for undergraduate students – $8,000 for graduate students


17/57

Subsidized◦ must demonstrate need

◦ U.S. Department of Education will pay (subsidize) theinterest that accrues while in school

Unsubsidized◦ not based on need

◦ most everyone can qualify

• Repayment begins after 6 month grace period• Maximum repayment period between 10 and 30 years


18/57

Parents of dependent undergraduate students◦ Repayment begins immediately but can be deferred

upon request

If a parent is unable to borrow (denied) a

parent PLUS loan, a student may be eligible foradditional unsubsidized loan


19/57

U.S. citizen or permanent resident

High school graduate/GED holder

Eligible degree/certificate program

Valid Social Security number

Males registered for Selective Service

Satisfactory academic progress (SAP)


20/57

A standard form that collects demographicand financial information about the studentand family to figure EFC.

Colleges use EFC to award financial aid

May be filed electronically or using paperform

◦ Available in English and Spanish


21/57

•

May be filed at any time during an academicyear, but no earlier than the January 1st prior tothe academic year for which the studentrequests aid

• For the 2016-17 academic year, the FAFSA maybe filed beginning January 1, 2016

• Most colleges set FAFSA filing priority dates but

not all do so


22/57

Good reasons to file electronically:

• Built-in edits to prevent costly errors

• Skip-logic allows student and/or parent to skipunnecessary questions

• Option to use Internal Revenue Service (IRS) Data RetrievalTool to import tax data

• More timely submission of original application and anynecessary corrections

• More detailed instructions and “help” for common

questions• Ability to check application status online

• Simplified application process in the future


23/57

•

Website: www.fafsa.gov

http://www.fafsa.gov/http://www.fafsa.gov/


24/57

The FSA ID

◦ Sign FAFSA electronically◦ May be used by students and parents throughout aid

process, including subsequent school years

◦ https://studentaid.ed.gov

https://studentaid.ed.gov/https://studentaid.ed.gov/https://studentaid.ed.gov/https://studentaid.ed.gov/


25/57

Social Security Numbers Divorced/remarried parental information

Income earned by parents/stepparents

Untaxed income U.S. income taxes paid

Household size

Number of household members in

college Real estate and investment net worth


26/57

• Federal Student Aid Hotline (1-800-433-3243)

• Federal Student Aid Website:

http://studentaid.ed.gov/fafsa/filling-out

•

Your college’s Financial Aid Office•

College Goal Sunday—February 2016

http://studentaid.ed.gov/fafsa/filling-outhttp://studentaid.ed.gov/fafsa/filling-out


27/57

February 2016Visit www.CollegeGoal.org

for more informationOften held at MidAmerica Nazarene

University

27

http://www.collegegoal.org/http://www.collegegoal.org/http://www.collegegoal.org/http://www.collegegoal.org/


28/57

Cannot be documented using FAFSA

Contact the college to find out how to submitinformation concerning special circumstances

Examples◦Change in employment status◦Unusual medical expenses not covered by insurance◦Change in parent marital status

◦Unusual dependent care expenses◦Student cannot obtain parental information◦Parent enrolled in college

https://studentaid.ed.gov/fafsa/next-steps/correct-update#updates-if-your-situation-has-changedhttps://studentaid.ed.gov/fafsa/next-steps/correct-update#updates-if-your-situation-has-changed


29/57

Avoid being charged a fee to file the FREEApplication for Federal Student Aid

Completion and processing of the FAFSA are

FREE

Make sure you are using the correct webaddress

www.fafsa.gov

http://www.fafsa.gov/http://www.fafsa.gov/https://studentaid.ed.gov/sites/default/files/dont-get-scammed.pdfhttps://studentaid.ed.gov/sites/default/files/dont-get-scammed.pdfhttp://www.fafsa.gov/


30/57

• Mail - paper Student Aid Report (SAR) ifstudent’s e-mail address was not provided onFAFSA

•

Email - notification containing a direct link tostudent’s online SAR if student’s email wasprovided on FAFSA

Student with FSA ID may view SAR online atwww.fafsa.gov



31/57

–Many schools won’t begin processingaid for 2015-16 until late March orApril.

–Check with the individual school fortheir schedule

–Many private schools will begin much

earlier than public schools


32/57

If necessary, corrections to FAFSA data may bemade by:

• Using FAFSA on the Web (www.fafsa.gov)



33/57

Allows students without lawful immigrationstatus to pay in-state tuition at Kansas

institutions but not Federal Aid.

To qualify they must:

◦

Attended a Kansas high school for three years AND

◦ Graduate from a Kansas high school OR equivalent AND

◦ File an affidavit with the post-secondary institution


34/57

Student can still get Federal Aid if they are:◦

A U.S. citizen or◦ Eligible noncitizen such as:

Permanent U.S. resident with I-551or

Conditional permanent resident with I-551C or

Other options listed on FAFSA

Parent section of the FAFSA still needs filled out◦ Parent will use 000-00-0000 for SS#

Parent may get error message (most common when enteringincome information)

Click submit 3 times to move past

Cannot get PIN to sign electronically – must sign and mailsignature page


35/57

Deferred Action for Childhood Arrival - June 15, 2012◦ Provides eligibility for work authorization

◦ Defers removal action for 2 years, subject to renewal◦ Does not provide lawful status - NOT ELIGIBLE for FAFSA

To Apply for DACA Must have entered the U.S. illegally as children

Under the age of 31 as of 6/15/2012

Came to the U.S. before 16th birthday—at least 15 years old to apply

Continuously resided in the U.S. since 6/15/2007 to the present time

No lawful status on 6/15/2012

• Currently in school, HS grad, certificate of completion or GED- or –Honorably discharged veteran of the Coast Guard or Armed Forces ofthe U.S. -----AND-----

• Not convicted of a felony, significant misdemeanor, or three or moremisdemeanors and do not otherwise pose a threat to national securityor public safety


36/57


37/57

Kansas Comprehensive Grant Kansas State Scholarship

Kansas Scholars Curriculum

Kansas Ethnic Minority Scholarship Career Technical Workforce Grant Kansas Career Work Study Program Fee Waiver Programs

Dependents & Spouses of Deceased Public Safety Officers orDeceased Military Personnel

ROTC Tuition Waiver Kansas Teacher Service Scholarship Kansas Nursing Service Scholarship

37

http://www.kansasregents.org/http://www.kansasregents.org/


38/57

Kansas Comprehensive Grant

Available to public & independent 4-yr schools

Need-based; full-time enrollment required

Only FAFSA application required forconsideration – no state application required

$3,500 max./$200 min. – Independent

Institutions $1,500 max./$100 min. – Public Institutions

38


39/57

Kansas State Scholarship

Available to public, independent 4-yrinstitutions & community colleges

Need & merit-based; full-time enrollmentrequired

Kansas Scholars Curriculum (KSC) Completionrequired www.kansasregents.org

Must file FAFSA and state application

$1,000 maximum award

39

http://www.kansasregents.org/http://www.kansasregents.org/


40/57

Kansas Ethnic Minority Scholarship

Available to public, independent 4-yrinstitutions & community colleges

Need & merit-based; full-time enrollmentrequired

Must file FAFSA & state application

$1,850 maximum award

40


41/57

Career Technical Workforce Grant

(formerly the Kansas Vocational Scholarship)

Available to technical schools & colleges, communitycolleges and state universities w/technical programs

Awarded to students enrolled in high demand/criticalindustry programs of study. Priority to given to thosewith financial need. There is no longer a test given.

New award amount: $1,000

Available to part-time and full-time students; awardamount pro-rated based on enrollment hours

Must file FAFSA and state application

41


42/57

Kansas Career Work Study Program

Available to public 4-yr institutions

Need-based; FAFSA required; students may be

enrolled either part-time or full-time; applicationprocess takes place at the institution

Students work in career-related occupations off-campus

42


43/57

Fee Waiver Programs

Dependents & Spouses of Deceased Public Safety Officers:

Available to students who have lost a parent or spouse in theline of duty (includes law enforcement officers, firefighters, &emergency medical services attendants)

Dependents & Spouses of Deceased Military Personnel:

Available to students who have lost a parent or spouse on orafter 9/11/01 while in active duty military service

Former Prisoners of War: Available to former prisoners ofwar – includes individuals who, while serving in the U.S.Armed Forces, were declared a POW by the U.S. Secretary ofDefense after January 1, 1960

• Available at state regents 4-yr institutions, community colleges,technical schools & colleges & Washburn University

• Students may be enrolled either part-time or full-time• Maximum amount of award up to required tuition & fees, not to

exceed 10 semesters of undergraduate instruction

43


44/57

ROTC Tuition Waiver

Available to participating public 4-yr institutions

Recipients are selected at the institution (separateapplication required)

Students must be enrolled full-time Maximum award up to 70% cost of attendance

Service obligation – after completion of degreestudent must become commissioned as a Second

Lieutenant and serve for not less than 4 yrs. as acommissioned officer with the Kansas ArmyNational Guard

44


45/57

Kansas Teacher Service Scholarship

Merit-based/competitive State application required

Students may be enrolled either part-time or full-time;enrolled in coursework leading to a bachelor’s or master’sdegree in a hard-to-fill teaching discipline

Upper class undergraduate students & current teachers givenpriority

Must plan to work in hard-to-fill discipline or underservedgeographic area of the state

Service obligation – 1 yr of service for 1 yr of scholarship

$5,514 maximum award for AY 2014-15 (award increasedeach year based on CPI). Award amount prorated based onthe number of hours enrolled

45


46/57

Kansas Nursing Service Scholarship

Available to public, independent 4-yr institutions,community college & technical schools/colleges

Need-based; full-time enrollment required Students must acquire a sponsor

State application required

Service obligation – 1 yr of service for 1 yr ofscholarship

$3,500 for RN/$2,500 for LPN maximum awards

46

http://www.kansasregents.org/scholarships_and_grantshttp://www.kansasregents.org/scholarships_and_grants


47/57

National Guard Educational Assistance Program

Available to public & independent 4-yr institutions,community colleges, & technical colleges

Students must be enrolled full-time

Must file state application

Service obligation – student agrees to completetheir current military service obligation, plus threemonths service for each semester of assistancereceived

47


48/57

MythsTips

Reminders

48


49/57

College Websites & Financial AidRepresentatives

Olathe Public Schools Scholarship Website

Olathe East Website, Daily Announcements Scholarship Search Engines Work places- Check with your employer

Clubs, Organizations & Associations

49


50/57

www.studentaid.ed.gov/scholarship www.finaid.org

www.kasfaa.org/ - Kansas Association of Student

Financial Aid Administrators www.nasfaa.org/ - National…

50

http://www.studentaid.ed.gov/scholarshiphttp://www.studentaid.ed.gov/scholarshiphttp://www.finaid.org/http://www.finaid.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.kasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.nasfaa.org/http://www.kasfaa.org/http://www.finaid.org/http://www.studentaid.ed.gov/scholarship


51/57

51


52/57


53/57

Natalie Ryan @OE_Counseling

53


54/57

Apply, Apply, Apply

Read and follow all instructions.

Submit a clean and neat application.

Submit a well-composed essay that makes adefinite impression.

Be aware of and meet all deadlines.

Give your application materials a final review.

Mail application to the proper address with theproper postage affixed (make a copy for yourrecords before mailing application).

54


55/57

Encourage your student to seek out 10 or more

scholarships to improve his/her odds!

55


56/57

Contact information:Natalie Ryan

[email protected]

913.780.7800

@OE_Counseling

mailto:[email protected]:[email protected]


57/57

Documents

Financial Aid & Scholarship Parent Presentation15 16