HOW TO HELP PAY THE BILL FOR COLLEGE
MYTHS AND TRUTHS
Myth: Since most schools will offer you an aid package based on your need, there’s little reason to shop around
Truth: Colleges have very different ways of dealing with your “need.” They can manipulate their offers based on how much they want you to attend their school, offering more in grants and less in loans, for example. If you receive a better offer of aid from one of your schools, you should by all means let the other schools know and see if you can use that information to receive a better offer.
MYTHS AND TRUTHS
Myth:College costs consist of room, board, and tuition
Truth:When calculating college costs, you must add in tuition, room, board, fees, books, transportation, clothing, entertainment, and the 10% rule – take whatever you think a year will cost and add 10% to cover the numerous unexpected costs associated with college attendance, as well as inflation
MYTHS AND TRUTHS
Myth:Once you get a financial aid package from your chosen school, you can’t change it
Truth:Actually, you will be renewing your financial aid package each year, and it’s not unheard of for more money to become available, especially for high-achieving students
MYTHS AND TRUTHS
Myth:All scholarships are more-or-less legitimate, so it’s a good idea to apply to as many as fit your profile
Truth:There are many scholarship scams out there, so beware
WARNING SIGNS OF A SCAM
Application Fees Other Fees Beware of 900-number telephone
services Guaranteed Winnings Unsolicited Opportunities Mail Drop or Residence for a Return
Address
HOW MUCH WILL COLLEGE COST?
Tuition - payment for required courses, study abroad, exchange programs
Fees - registration, parking, activities, health, laboratory, many others
Books and Materials - computer, required texts and supplies Room - cost of dorm or apartment plus furniture, utilities and
telephone Food - meal plans, eating out, groceries Transportation - two to three trips home or, if you keep an auto
on campus, your gas expenses, insurance, parking fees, etc. Personal - clothes, laundry, recreation, medical and dental,
insurance Miscellaneous - catchall for anything that doesn’t fit in another
category - think about adding 10% of the total amount of above
The Net Price Calculator
Available since the 2011-2012 school year on every college website
Provides students and parents with the college’s annual cost of education
Also provides an easy estimation of what your financial aid package may look like
The Net Price Calculator will be fairly accurate, but does not substitute for actually going through the process of submitting your FAFSA Form
SOBERING FACTS
The cost of attending the most prestigious colleges for four years is nearing $200,000 - more than double the price of 20 years ago.
Tuition at public universities has risen more than 50% in inflation adjusted dollars in the past ten years.
As college costs have risen, government aid has failed to keep pace - as a result, student debt has ballooned.
The Cost
Private colleges/universities can cost $50,000 or more per year
Public colleges/universities may cost $20,000 per year
A local community college with a full-time course load may cost $10,000 or more
Types of Financial Aid
Educational Loans
Federal loans borrowed directly from federal government
Private student loans Repayment (federal and private)
typically begin within 6 months of graduation
Work Study & Part-time Employment
Work Study programs provide jobs for students with demonstrated financial need
Some students maintain a part-time job unrelated to a financial aid program
Grants
Considered gift aid – does not have to be paid back
Most all grants based on need There are federal and state grants Must submit the Free Application for
Federal Student Aid (FAFSA) US citizen Have a valid social security number Enrolled at least part-time
Federal Grants
Pell Grant Supplemental Educational
Opportunity Grant Academic Competitiveness Grant SMART Grant
NC State Grants
NC Community College Grant UNC-Need-Based Grant NC Legislative Tuition Grant State Contractual Scholarship Fund NC Educational Lottery Scholarship
Scholarships
Gift aid/free money Most sought after type of aid
SO HOW DO YOU WIN SCHOLARSHIPS?
You must be able to organize and prioritize You must be able to write about a variety of topics that may
or may not be exciting to you in a fluid and thoughtful way, demonstrating that you are a scholar or would like to be a scholar
You must understand yourself well enough to create a compelling portrait of who you are.
You must understand your audience well enough to be able to position your skills and strengths as deserving of their support.
Scholarship committees award funding to candidates they can understand and relate to and who distinguish themselves from other candidates by their ability to communicate their special-ness!!!
WHEN TO START LOOKING
You will not be able to apply for most until your senior year
You can begin searching as early as you wish – there are some opportunities available for juniors interested in a particular school
Explore the financial aid and scholarship pages on college websites you are interested in
Explore free scholarship search websites Learn what is out there so you will be ready your
senior year Read books, articles, start a college savings account as
soon as possible
Start With A Personal Inventory
Year in school, citizenship, state of residence, religion, ethnic background, disability, military status, employer, membership organizations
Do you want to be in a competition? What are you talents and interests? What subject do you plan to major in? What career do you plan to pursue? Do you want to apply for all types of aid or only scholarships? Research local scholarships first – check your email/school website Check the college aid section of your public library – scholarship handbooks Check out the national scholarships such as National Merit, Gates Millennium, Intel
Science Search, Coca-Colas Scholars, Ron Brown, etc. Check out your membership organizations, employers, religious, community service,
fraternal, military, union, and professional groups Check out fast food companies, department stores, supermarkets, awards related to
employment Use the internet for free scholarship searches Research Institutional Scholarships – automatic, merit, talent, financial need, intended
major, departmental, ethnicity, or a variety of other factors
COUNSELOR ANNOUNCEMENTS
Listen to counselor announcements about scholarships your senior year
All scholarships will also be listed on the school website
College Visitations College and Career Fairs Career Day
LOCAL COMMUNITY SCHOLARSHIPS
Check out your school’s website Most contain information about local
scholarships and school based scholarships
THE SCHOLARSHIP APPLICATION
Read the eligibility criteria carefully (GPA, test scores, other) Collect all supporting documents early (transcripts,
recommendations, resume, etc.). Ask the person writing your recommendation to address
your personal qualities that match the scholarship criteria with specific examples; If the recommender would not know about these examples, then you have to tell them in a letter
If you are asked to document your financial need, list all family obligations and then explain your situation honestly and completely
Be neat, thorough, and creative! There may be thousands of students competing for the same
scholarship - take it seriously and write essays with your most distinguished effort.
Don’t miss the application deadline!
PRESTIGIOUS ALL ENCOMPASSING SCHOLARSHIPS
Morehead-Cain: UNC Chapel Hill Danforth: Washington Univ. St. Louis Wells: Indiana University Jefferson: University of Virginia Emory Scholars: Emory University Reynolds Scholarship: Wake Forest Belk: Davidson College Cincinnatus: University of Cincinnati Brown: Centre College & Louisville Park Scholarship: NC State University Ramsey: University of Georgia And many, many others
SERVICE CLUBS
Altrusa American Legion American Red Cross Association of Junior Leagues Int. Boys and Girls Clubs Campus Outreach Community
League Circle K Civitan Elks Club Fraternal Order of Eagles Friends of the Library Kiwanis International Knights of Columbus Lions Club International National Exchange Club
National Grange Neighbor Works Optimist International Performing Arts Center Rotaract and Interact Rotary Club; Unsung Hero Ruritan Salvation Army Sertoma International Soroptimist International of the
Americas U. S. Jaycees USA Freedom Corps Veterans of Foreign Wars YMCA/YWCA Zonta International
RELIGIOUS ORGANIZATIONS
Assemblies of God Baptist Church Catholic Church Church of Jesus
Christ of Latter-Day Saints
Evangelical Lutheran Church
Judaism Methodist Church Presbyterian
Church Seventh-Day
Adventist Society of Friends United Church of
Christ
WORKER’S UNIONS
Air Line Pilots Association American Federation of School
Administrators American Federation of State,
County, and Municipal Employees American Federation of Teachers American Federation of Television
and Radio Artists Asbestos Workers International
Union Association of Flight Attendants Bakery, Confectionery, Tobacco
Workers and Grain Millers International Union
Boilermakers, Iron Ship Builders, Blacksmiths, Forgers and Helpers
Bricklayers and Allied Craftworkers
Brotherhood of Locomotive Engineers
Chemical Workers Union Council Communications Workers of
America Glass, Molders, Pottery, Plastics, and Allied Workers
Graphic Communications International Union
International Alliance of Theatrical Stage Employees, Artists and Allied Crafts of the U.S.
International Association of Machinists and Aerospace Workers
International Organization of Masters, Mates and Pilots
International Union of Electronic, Electrical, Salaried, Machine and Furniture Workers-Communications Workers of America
WORKERS UNIONS - continued
International Union of Painters and Allied Trades of the United States and Canada
Iron Workers, International association of Bridge, Structural, Ornamental and Reinforcing
National Alliance of Postal and Federal Employees
National Association of Letter Carriers
Office of Professional Employees International Union
Professional and Technical Engineers, International Federation
Retail, Wholesale and Department Store Union District Council
Screen Actors Guild Seafarers International Union of North America
Service Employees International Union
Sheet Metal Workers International Association
Transport Workers Union of America
Union Plus United Food and Commercial
Workers Union United Mine Workers of
America United Transportation Union
Utility Workers Union of America
EXTRACURRICULAR ACTIVITIES
American Mensa Society Amnesty International BETA Club Boy Scouts of America Boys and Girls Club of America DECA Educational Theatre Association Family, Career and Community
Leaders of America 4-H Clubs Fraternity or Sorority Future Business Leaders of
America Future Farmers of America Girl Scouts of America
Interact Club Junior Achievement Key Club Leo Club Model United Nations Mu Alpha Theta National Forensic League National Foundation for Teaching
Entrepreneurship National Honor Society National Rifle Association Quill and Scroll S.A.D.D. Skills USA Students in Free Enterprise
THE POWER OF THE INTERNET
SCHOLARSHIP WEBSITES
www.adventuresineducation.org www.brokescholar.com www.cappex.com www.collegeanswer.com www.collegenet.com www.fastaid.com www.fastweb.com www.free-4u.com www.salliemae.com www.scholarships.com www.scholarships4you.com www.supercollege.com www.zinch.com
OTHER USEFUL WEBSITES
www.actstudent.org www.collegeboard.com www.petersons.com www.princetonreview.com www.cfnc.org
HITTING UP BIG BUSINESS
Best Buy Scholarship Burger King Scholars Program Cargill Community Scholarship
Program Coca-Cola Scholars Program Coca-Cola Two Year College
Scholarship Dell Scholars Program Dupont Challenge Glamour’s Top Ten College
Women Competition Guardian Insurance Company
Girls Going Place Scholarship Hitachi Yoshiyama Award Intel Science Talent Search KFC Colonel’s Scholars Program
Kohl’s Kids Who Care Program Microsoft General Scholarships Papa Johns Scholars Prudential Spirit of Community
Awards Sam Walton Community
Scholarship Siemens Competition in Math,
Science, and Technology Toshiba Exploravision Awards Toyota Community Scholars
Program Tylenol Scholarship USA Funds Access to Education
Scholarships
PROFESSIONAL ASSOCIATIONS
Association of Certified Fraud Examiners
Academy of Motion Picture Arts and Sciences
Academy of Television Arts and Sciences Foundation
Actor’s Fund of America Air Traffic Control Association Aircraft Electronics Association American Angus Association American Association of Airport
Executives American Association of Critical-
Care Nurses American Bar Association American Concrete Institute American Criminal Justice
Association
American Culinary Federation American Dental Association
American Institute of Chemical Engineers
American Meteorological Society American Nuclear Society American Nursery and Landscape
Association American Society of Agricultural
Engineers American Society of Ichthyologists
and Herpetologists American Society of Mechanical
Engineers American Society of Travel
Agents Foundation
PROFESSIONAL ASSOCIATIONS continued
American Society of Women Accountants Scholarship American Welding Society Foundation
Armed Forces Communications and Electronics Association
Associated General Contractors of America Associated Male Choruses of America
Association for Women in Mathematics
Association for Women in Science Association of Food and Drug
Officials Association of State Dam Safety
Officials Broadcast Education Association Educational Foundation for Women
in Accounting Emergency Nurses Association Entomological Society of America
Executive Women International Golf Course Superintendents
Association of America Foundation Herb Society of America Industrial Designers Society of
America International Association of Fire
Fighters International Food Service Executives International
International Society for Optical Engineering
Iron and Steel Society Karla Scherer Foundation
Scholarship National Association of Chiefs of
Police National Association of Women in
Construction National Community Pharmacists
Association
PROFESSIONAL ASSOCIATIONS continued
National Press Photographers Foundation
National Restaurant Association Educational Foundation
National Scholastic Press Association
National Society of Accountants National Society of Professional
Engineers National Speakers Association National Student Nurses’
Association Outdoor Writers Association of
America Physician Assistant Foundation Plumbing-Heating-Cooling
Contractors National Association
Public Relations Student Society of America
Radio and Television News Directors Association
Society of American Registered Architects
Society of Automotive Engineers Society of Exploration
Geophysicists Society of Nuclear Medicine Society of Plastics Engineers Society of Professional Journalists SWE Society of Women Engineers University Aviation Association Wilson Ornithological Society
AWARDS BASED ON ETHNICITY
Actuarial Scholarship for Minority Students
American Society of Criminology Fellowships for Ethnic Minorities
Armenian Students’ Association of America Scholarship
Asian American Journalists Association Scholarships
Bureau of Indian Affairs High Education Grant
Cherokee Nation Undergraduate Scholarship Programs
Council for Exceptional Children Ethnic Diversity Scholarship
Gates Millennium Scholars Program
Hellenic Times Scholarship Fund Hispanic College Fund
Scholarship Hispanic Heritage Awards
Foundation
Hispanic Outlook Magazine Scholarship Fund
Hispanic Scholarship Fund Japanese American Citizens
League Kosciuszko Tuition Scholarship
Program League of United Latin American
Citizens Scholarship Fund National Action Council for
Minorities in Engineering National Association for the
Advancement of Colored People (NAACP)
National Association of Black Accountants Scholarship Program
National Association of Black Journalists Scholarship Program
ETHNICITY - continued
National Association of Hispanic Journalists Scholarships
National Association of Minority Engineering Program Administrators
National Black Police Association National Society of Black Engineers Native American Journalists
Association Scholarship Order Sons of Italy in America Organization of Chinese Americans Public Relations Student Society of
America - Multicultural Affairs Scholarship Program
Ron Brown Scholar Program The Sallie Mae Fund First in My
Family Scholarship
The Sallie Mae Fund American Dream Scholarship
Scholarships for Disadvantaged Students in Health Professions
Society of Hispanic Professional Engineers
The American Chemical Society Scholars Program
The Gillette/National Urban League Scholarship and Intern Program for Minority Students
The National Italian American Foundation
Thurgood Marshall Scholarship Fund
U.S. Pan Asian American Chamber of Commerce
United Negro College Fund Scholarships
SCHOLARSHIPS FOR A DISABILITY
HEARING IMPAIRED Alexander Graham Bell Association Children of Deaf Adults, International EAR Foundation National Association of the Deaf National Fraternal Society of the Deaf Travelers Protective Association
SCHOLARSHIPS FOR A DISABILITY
VISUALLY IMPAIRED American Foundation for the Blind Association for Education and
Rehabilitation of the Blind and Visually Impaired
Christian Record Services National Federation of Music Clubs National Federation of the Blind
SCHOLARSHIPS FOR A DISABILITY
PHYSICAL DISABILITIES Bank of America Chair Scholars Easter Seal Society Ethel Louis Armstrong Foundation Pfizer Spina Bifida Association of America Tourette Syndrone Online
SCHOLARSHIPS FOR A DISABILITY
LEARNING DISABILITIES International Dyslexia Association National Center for Learning Disabilities The P. Buckley Moss Society VSA Arts
YOU DO NOT HAVE TO BE A SUPERSTAR ATHLETE SCHOLARSHIPS
Harness Horse Youth Foundation Ice Skating Institute of America National Amateur Baseball Federation National Archery Association National Athletic Trainers’ Association National Fluid Milk Processor Promotion Board - SAMMY
Milk Mustache National Rifle Association Nike Our World-Underwater Scholarship Society Stonehouse Publishing Company (Golf) Wendy’s Restaurants Women’s Sports Foundation
STRANGE AND OFFBEAT SCHOLARSHIPS
Collegiate Inventors Competition
David Letterman Scholarship
Duck Calling Contest Duct Tape Stuck at
Prom Scholarship Ghostbuster
Scholarship Klingon Language
Institute KOR Memorial Scholarship
Little People of America Scholarship Million-Dollar Name
National Candy Technologists Scholarship Program
National Potato Council Scholarship
Tall Student Scholarship
The Magic Scholarship Top Turkey Recipe
Scholarship
CONTESTS FOR WRITERS & POETS
American Fire Sprinkler Association Essay Contest
Ayn Rand Essay Contests Biography of the Year Scholarship
Challenge CosmoGirl of the Year
Scholarship Guidepost Young Writers Contest Holocaust Remembrance Project Humanist Essay Contest Inverness Corporation “Is All
Ears” Essay Contest John F. Kenneday Profile In
Courage Essay Contest L. Ron Hubbard Writers of the
Future
Mensa Education & Research Foundation Scholarship
National Council of Teachers of English Student Writing Awards
National Peace Essay Contest National Schools Project Young
Poets Contest Optimist International Essay
Contest Poetry.com Contest Scholastic Art and Writing
Awards Signet Classic Student Scholarship
Essay Contest The Laws of Life Essay Contest UNA-USA National High School
Essay Contest on the United Nations
CONTESTS FOR PERFORMING ARTS
American Society of Composers, Authors, and Publishers
Arts Recognition and Talent Search
BMI Foundation Awards Chopin Foundation Donna Reed Performing
Arts Scholarships Educational Theatre
Association Thespian Scholarships
Glenn Miller Scholarship Competition
Joseph S. Rumbaugh Oration Contest
Optimist Oratorical Grant William Tolbert
Whittenberg Scholarship for Excellence – Louisville Fund for the Arts
Young Artist Competition Young Concert Artists
International
CONTESTS FOR ARTISTS
Christophers Federal Duck Jr. Stamp Competition Images of Freedom Student Photography
Contest National Sculpture Society Scholarship Scholastic Art and Writing Awards Worldstudio Foundation Young Americans Photography
Competition
CONTESTS OF CHANCE
College Answer $1,000 Scholarship Drawing
eCampus Tours $1,000 Scholarship Drawing
Next Step Magazine Off to College Scholarship Sweepstakes Super College Scholarship U. S. Bank Internet Scholarship Program
GUARANTEED SCHOLARSHIPS
National Merit Scholarships Automatic Scholarships based on GPA and
Test Scores State Entitlement Awards
OTHER SCHOLARSHIP SOURCES
Parents Employer Parent’s or Grandparents
Military Service Student’s Employer Businesses Big and Small - check
with the Chamber of Commerce The College Financial Aid Office Career Service Offices Visit Your College Department’s
Administrative Assistant Contact Your Local Politician
Scholarship Books Dollars for Scholars - double your
scholarship dollars at www.scholarshipamerica.org
Scholarships based on Personal Challenges and Hardships
Turn Your Hobbies and Talents into Scholarships
Scholarship organizations love Leaders - check into Leadership Awards
Turn Your Community Service into Scholarship Dollars
Ace your College Application to Get More Scholarship Dollars
Negotiate with your college if they try to take away your scholarship money
INSIDER TIPS
Remember the 10% Rule – total costs of a college, then add 10% to account for unexpected expenses. Don’t get caught by surprise
Start Early – start working with the financial aid office even before being admitted. Money is awarded on a first-come, first-served basis
INSIDER TIPS - continued
Non-citizens be prepared. It is even more difficult to receive financial aid if you are not a U.S. Citizen because most colleges have little to no funds available for such students
Ask and Ask Again – If your financial aid package will not cover your costs, contact the financial aid office and ask them to review your application. You may not receive a bigger scholarship, but you might receive a loan on more generous terms or better on-campus employment
INSIDER TIPS - continued
Beware of Scams – any scholarship fund that requests an application fee, operates out of a residence, guarantees you a return, or has a name suspiciously close to an organization you know to be legitimate, is probably a scam. Research funds thoroughly before sending money
QUESTIONS?