9/19/17 Tonight’s questions: • What do we need to do? • How will we pay for this? Paying for College 2017-18 2 Tonight’s questions: Agenda • What do we need to do? • College costs • How will we pay for this? • Financial aid • Types of financial aid applications • Timeline and action items • Help when you need it 3 4 College costs College Cost of Attendance (COA) • Community colleges • Tuition and fees • $4,983 tuition, $13,050 total • Room and board • Books and supplies • Public colleges and universities • Transportation • $10,707 tuition, $26,304 total • Personal • Study abroad • Private colleges and universities • Computer purchase • $41,576 tuition, $57,596 total 5 6 1
9/19/17 You are in charge Net price calculator • Direct cost: $$$ you pay to • Required by the U.S. Department of Education • Shows standard COA minus “your” gift aid the college • Schools’ current award policies • Indirect cost: $$$ you spend • Your income, assets, household size (or don’t spend) independent of the college • Optional: GPA and test scores for merit-based aid • COA is an AVERAGE—your expenses will vary • College Abacus www.collegeabacus.org • Create your own COA 7 8 Agenda Financial aid programs • College costs • Gift aid • Financial aid • Grants • Types of financial aid applications • Scholarships • Timeline and action items • Self-help • Help when you need it • Work-study • Loans • All of these can be need-based or merit- based 9 10 Grants Scholarships • Federal grants • OSAC scholarships • Pell Grant • Institutional scholarships • FSEOG • Community scholarships • TEACH Grant** • Iraq and Afghanistan Service Grant** • State grants • Oregon Opportunity Grant • Oregon Promise** • Institutional grants 11 12 2
9/19/17 Searching for scholarships Work-Study • ASK EVERYONE! • Federal Work-Study Program • Parents, relatives, neighbors • Institutional work-study • HS counselors • Employers • You are a student first • Work shouldn’t interfere • Web searches with your studies • GetCollegeFunds.org • Time management • Fastweb.com • Dead week and finals week • Scholarships.com • ORCIS 13 14 Loans Agenda • Federal student loans • Direct Subsidized Loans • College costs • Direct Unsubsidized Loans • Financial aid • Federal parent loans • Types of financial aid applications • Direct PLUS Loans • Timeline and action items • Interest Rates 2017-18 • Help when you need it • Undergraduate Sub and Unsub: 4.45% • PLUS: 7.00% 15 16 Types of financial aid applications Free Application for Federal Student Aid (www.FAFSA.gov) • FAFSA • ORSAA 17 18 3
9/19/17 FSA ID IRS Data Match with FSA ID • FSAID.ED.Gov • Student and at least one parent get an FSA ID • Used for FAFSA • Used for student loans 19 Source: Federal Student Aid. Fsaid.ed.gov. 20 FAFSA and ORSAA sections Oregon Student Aid Application (ORSAA) • Your demographics • Your plans • Your colleges • Your income • Your assets • Parents’ income • Parents’ assets • Signatures Source: Oregon Office of Student Access and Completion. "Oregon Student Aid Application (ORSAA) Pre- 21 22 Filter Tool” http://oregonstudentaid.gov/PublicTools/FinancialAid/PreFilter. FAFSA parents Not FAFSA parents (Unless they have adopted student) Widowed Grandparents Foster Parents Legal Guardians Older Brothers Aunts or Uncles Stepparent or Sisters Source: www.fafsa.ed.gov 23 24 4
9/19/17 Most Common FAFSA Rejects OSAC Scholarship Application (In Oregon) • Student’s SSN match but no name match (with SSA) • Student’s taxes paid is greater than zero and equal to or greater than AGI • Parents’ taxes paid is greater than zero and equal to or greater than AGI • Missing parent signature on FAFSA or SAR • Missing student signature on Web application 25 26 Oregon Office of Student Access and Completion. “OSAC Scholarship Application.” https://app.oregonstudentaid.gov. Agenda September timeline • College costs q Attend financial aid night • Financial aid q FAFSA filers: Create FSA IDs • Types of financial aid applications q ORSAA filers: Find your 2016 tax return • Timeline and action items q Verify names and numbers on Social • Help when you need it Security cards q Have a family financial aid talk 27 28 Family financial aid discussion Family financial aid discussion Parent(s): Student: • How much can you pay from • How much are you earning? savings? • How much are you saving? • How much can you pay from • How many potential earnings? scholarships? 29 30 5
9/19/17 Family financial aid discussion October timeline • How much are you willing to borrow? q Complete FAFSA or ORSAA • Can you increase savings/decrease q Complete Oregon Promise application spending? q www.oregonpromise.org q Yes, even if you don’t intend to go to a community college q Experiment on colleges’ Net Price Calculators and https://collegeabacus.org 31 32 November timeline December timeline q Narrow down your college choices to no q Use your winter break to apply to your more than 6-10—six is better than 10 colleges and universities—during finals week, you’ll be so glad you did this q Do any of your schools require the CSS q Research scholarships Profile? Now’s the time to do it! q Apply for scholarships q Take Thanksgiving weekend to perfect any q Provide any documentation requested by a scholarship or admission essays financial aid office q Respond to any communication you receive from a financial aid office 33 34 Agenda Help when you need it • College costs • Ms. Centurion • Financial aid • 1-800-4-FED-AID • Types of financial aid applications • Parents/friends who have been there • Timeline and action items • Help when you need it www.bigfuture.org https://oregongearup.org 35 36 6
9/19/17 Contact us Subscribe! The College Place-Oregon Portland Community College-Sylvania Campus oregontcp@ecmc.org Jennifer Satalino jsatalino@ecmc.org 971-722-4493 37 38 7
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