Financial Aid & Scholarships WHS School Counseling 2 Types of - PowerPoint PPT Presentation

Financial Aid & Scholarships WHS School Counseling

2 Types of Financial Aid Loans Grants Scholarships Money that is Free money that Free money borrowed and is given often awarded on will need to be based on merit, talent, or paid back. financial need. athletic performance. Subsidized (interest is e r a deferred) vs. w a e r a u o e y h t e f r o Unsubsidized u s s m e B r e t e h d n t a l l a , (interest is s f t o n a r g , s u n o a y o s l p i accrued) h s r a l o h c s t ! p e c c a

3 FAFSA: Free Application for Federal Student Aid - Go to FAFSA.gov - Must complete your FAFSA to qualify for government sponsored loans and grants - Available October 1st - June 30th of each year - Money is given out on a first come, first serve basis

4 EFC: Expected Family Contribution All colleges use a basic equation to determine your financial aid. $30,000 College costs ** -$8,000 Expected Family Contribution $22,000 Student’s Financial need ** Varies by college and each college will offer a specific financial aid package.

5 Scholarship Applications Earn money to reduce your college costs! ➔ School Specific - With Acceptance ➔ Local/County - Naviance ➔ National - Naviance

6 Steps for Applying

7 School, County, and Nationwide Scholarship Access and Applications Many local scholarships can be found by logging into your Naviance Student Account

8 Hello!

Sort by Deadline or Last Updated 9 Hide Scholarships with deadlines Filter by that have already passed School Click the name of the scholarship to access criteria, application, and directions.

10 Some scholarship applications will be a downloadable and/or fillable .pdf. While other applications will be on the sponsor’s website.

11 Why wouldn’t I accept all scholarships offered to me? Because you will only be attending one college or university even though you may be accepted to more than one. If you’ve applied to more than one school and have been accepted by more than one school, each of those schools may send you a financial aid package. Let your Career Center Specialist know which school you will be attending and supply her or him with copies of the award letters.

12 How do I report Submit Student Award scholarships Worksheet once you’ve finalized your college decision. Senior Surveys will take place in April to awarded/offered collect admission information. to me?

13 4 myths on why NOT to apply for scholarships

14 Myth #1: I don’t have time to write essays You spend 5 hours to write, proof, and edit a 500 word essay for a scholarship awarding $5,000. You are selected as the recipient of the scholarship. You just earned $1,000 per hour to help pay for your education!

15 Myth #2: Odds are I won’t win a scholarship because so many other people apply too Fact: National/Statewide scholarships are typically more competitive than school-based or countywide scholarships Truth: Apply to scholarships that have criteria you meet, no matter how large or small the applicant pool might be. The odds of winning a scholarship you do not apply to guarantees $0 awarded.

16 Several scholarships receive few to zero applications, thus improving your chance to win exponentially!

17 “ The Class of 2019 accepted $433,101,246 in scholarships.

18 Myth #3: The scholarship requires a copy of my SAR/FAFSA but my EFC is high Generally, there are several criteria points considered when awarding scholarships to deserving recipients. Even if a scholarship is need-based, the EFC doesn’t always tell the whole story. Ensure the other components of the scholarship are met and if an essay is required, you may have the opportunity to explain your situation depending on what the prompt is.

19 Myth #4: The scholarship is only awarding $200 Books Dorm Needs Lab Fee(s) That’s $200 more than you started with to pay for things listed above

20 Tips for Applying Pay close attention to deadlines and adhere to • them. • If transcript is required ensure Transcript Request Form is submitted at least 10 days prior to due date. • Make sure you include all required components. Use the Student Cover Sheet Checklist × • Type your information on the application. If you are unable to, use a BLUE or BLACK pen, and write neatly. Never use a pencil. Have someone proof your essay, if required. • • Access your resources (ex. Writing Center or Career Center)

21 GOOD LUCK! There is lots of money out there – take advantage! See you in the School Counseling Office!