Scholarship & Financial Aid
Information
THORNTON HIGH SCHOOL
OCTOBER 17, 2013
“If a man empties
his purse into his
head, no one can
take it from him.
An investment in
knowledge always
pays the highest
return.”
-Benjamin
Franklin
College Fair
Fair was TODAY at THS. Seniors were allowed to
attend from 1:00 – 2:00.
What is Financial Aid?

Financial aid consists of funds
provided to students and
families to help pay for
postsecondary educational
expenses
 What is Cost of
Attendance (COA)?

Direct costs i.e. tuition or housing
(billed directly from college)

Indirect costs i.e. books,
transportation or personal care
items (not billed through college)

Colleges combine direct and
indirect expenses into the cost of
attendance

Varies widely among different
types of colleges
Expenses
Resident1
Tuition and Fees
$ 10,529
On-campus Room and Board2 $ 12,258
Books/Supplies
$ 1,800
On-campus Estimated Total3
$ 24,587
Types of Aid
 Grant: Award that does not have to be paid back,
calculated from FAFSA
 Scholarship: Award that does not have to be paid back
 Loan: Borrowed money that has to be repaid, usually after
college graduation
 Work Study: Money earned, usually through campus
jobs, while attending college
Types of Aid
 Need Based: Based on financial need. These awards are
based only on the student’s financial need and not due to
grades or other merit
 Merit Based: Awarded on the basis of a student’s ability,
talent or unique characteristics, such as academic
achievements, athletic ability, musical talent, or ethnic
heritage
Sources of Aid
 Federal government (FAFSA)
 State (COF)
 Private sources
 Civic organizations and churches
 Employers
Regardless of
how much
money students
accumulate
prior to college
(scholarships,
savings, jobs),
the majority of
students end up
with some sort
of student
loan…..
“Welcome graduates, parents, guests, faculty, and
home equity loan officers”
What is FAFSA?
 Federal financial aid application
 How your Expected Family Contribution (EFC) is
determined by collecting family’s financial
information
 www.fafsa.ed.gov
What is FAFSA?
 For 2013–14 academic year, the FAFSA may be filed
beginning January 1, 2014
 Colleges may set FAFSA filing deadlines

Meeting or not meeting a college’s priority deadline may
impact the amount of financial aid a student receives
FAFSA PIN
 PIN is your Personal Identification Number
 PIN is needed for:
 Apply for PIN (keep in a safe place)
To apply on-line for FAFSA (electronic signature)
 Make online corrections
 Access your FAFSA records at later date
 Will use annually to refile

http://www.pin.ed.gov
FAFSA Documents Needed
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Social Security Number
Driver's license
2013 W2 forms
Student federal income tax return
Parent federal income tax return
Untaxed income including social security, temporary assistance for
needy families, and welfare documentation
Current bank statements
Veterans benefit records
Current business, investment, business or farm records, stock or
bond information, and mortgage information
Alien registration or permanent residence card (if you are not a U.S.
citizen)
Expected Family Contribution (EFC)
 FAFSA will determine your EFC
 It is an estimate of the parents' and/or student's
ability to contribute to post secondary education
expenses
 The lower the EFC, the higher the financial aid
award from the college may be
 Zero is the lowest EFC number, and 99,999 is the
highest
Financial Need
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
_______________________________
= Financial Need
Subsidized vs. Unsubsidized Loans

Stafford Subsidized Loans

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Federal loans based on financial
need.
Interest does not accrue on the loan
while you are in school at least half
time, or during any future
deferment periods.
The federal government "subsidizes"
(or pays) the interest during these
times.
Additionally, there are maximum
amounts you can receive per school
year.
 Freshman: $3,500 per year
 Sophomore: $4,500 per year
 Junior: $5,500 per year
 Senior and 5th year: $5,500 per
year
 $31,000 Total can be borrowed

Stafford Unsubsidized Loans

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Federal loans that are not based on financial
need.
Interest does accrue from the time the loan
is disbursed to the school.
Additionally, there are maximum amounts
you can receive per school year for
dependent and independent students.
 Freshman: $2,000 for dependent
students, $6,000 for independent
students
 Sophomore: $2,000 for dependent
students, $6,000 for independent
students
 Junior: $2,000 for dependent students,
$7,000 for independent students
 Senior and 5th year: $2,000 for
dependent students, $7,000 for
independent students
 $57,500 Total can be borrowed
College Opportunity Fund (COF)
 In-State Financial Aid
 Application can be found:
https://cof.college-access.net/cofapp/
 The amount may differ each year. ($64/credit hour) It will
be determined by the state legislature each spring for the
upcoming academic year
Net Price Calculator
The U.S. Department of
Education has mandated
that each college make
available a ‘Net Price
Calculator’
You can find it on the
college financial aid
website.
Financial Aid Resources
 Naviance
 www.fastweb.com
 www.finaid.org
 www.collegeinvest.com
 www.collegegold.com
 www.edupass.org
 www.collegegoalsundayusa.org
 www.studentaid.ed.gov
 www.mappingyour future.org
 ftc.gov/scholarshipscams
 studentaid.ed.gov/guide/
 www.finaid.org/calculators
Scholarships….
Scholarships
require a lot
of leg work!
There is no
magic answer,
or easy way of
accruing
scholarships.
There is no magic answer!
Where to Look Online
 Naviance!
 www.collegeboard.com/student/pay
 www.scholarships4school.com
 www.cappex.com
 www.collegeinvest.com
 www.fastweb.com
 www.finaid.org
 www.gocollege.com
 www.salliemae.com
 www.scholarships.com
NAVIANCE
Scholarships Can be Awarded Based on…
 Need Based
 Talents
 Grades
 Height
 Test Scores
 Athletic Ability
 Ethnicity
 Club membership
 Religious affiliation
 Community Service
 Workplace
 Military service
 Family legacy
 Intended college major
 School involvement
 And more….
How to Recognize a Scholarship Scam
 “For a small fee, we’ll give you a list of scholarships”
 “We will do all the work for you”
 Indicates you won an award for which you didn’t apply
 Guarantees you will win an award
 Requires personal financial information
 Does not supply valid contact information
College Credit ($$$) & the IB Diploma
 What exactly do I need to receive the full diploma?
 Do most students receive the diploma?
 Am I guaranteed college credit?
 Do all institutions accept IB credit?
 What if I go out of state?
 Do I need the full diploma to earn college credit?
IB and AP Exam Fees
 Escape Grant
 Fill out paperwork and return by October 21st 2013 to Ms.
Burns
More IB Diploma Questions…
 How does IB credit transfer to different institutions?
 i.e. - Will Berkeley accept the same credit as CU Boulder?
 How will I know what scores I need to receive credit?
 What happens if I earn a ‘3’ on one exam?
 How do I find more information on IB credit?
 When will my scores be sent?
Consider IB Friendly Colleges
 University of Tulsa:

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“Students who earn the IB Diploma with a total score of 28 points or more will
be awarded at least 30 hours of university credit (sophomore standing).”
“The University of Tulsa offers a merit scholarship for entering freshmen who
complete all work toward the IB Diploma with a minimum high school g.p.a.
of 3.0. This scholarship is renewable for eight semesters with a 3.0 cumulative
grade point average.”
 University of Nebraska:

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“Students with an International Baccalaureate (IB) Diploma earn an average
of 25-28 University credits, including 3 hours of credit in Philosophy for
completing the Theory of Knowledge course.”
“Once an IB student applies and is admitted to UNL, their IB Diploma may be
worth a $50,000 scholarship (out-of-state students only). In addition, all IB
Diploma candidate that submit an Informal Personal Statement are eligible
for the $1,000 non-renewable IB Nebraska Legends Scholarship.”
12 Tips on How to Get a College Scholarship
 Start ASAP and Apply Early

Many scholarships have early application deadlines
 Do not miss deadlines!
 Organize All Scholarship Materials


Create a separate file for each scholarships and file by application date
Keep a calendar of application deadlines and follow up appointments
12 Tips on How to Get a College Scholarship
 Search Locally

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Local scholarships are probably your best chance due to less applicants,
therefore less competitive
Local banks, grocery stores, libraries, clubs, businesses, organizations,
churches, state websites
 Check Membership Organizations and Employers
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Organizations of all types and size sponsor scholarships – leave no stone
unturned!
Examples: religious, community service, military, union, or professional
organizations
Don’t forget your own employer. Check with human resources
department
If your student works, check their employer. Many fast food chains,
supermarkets, and department stores give scholarships
12 Tips on How to Get a College Scholarship
 Check School Specific Scholarships

Usually there are many school-specific scholarships available
through the college you would like to attend
 Stay Active
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Participating in a sport, extracurricular activity, or community
service will always better your chances.
Consistency not quantity is best
12 Tips on How to Get a College Scholarship
 Read the requirements

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Make sure you are eligible
Never EVER pay to apply for a scholarship
 Follow instructions carefully

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Any errors can get your application denied instantly
Proofread! (or have someone help you)
Do not go over essay length
Do not send extra materials
 Communicate
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Do not leave items blank
If you are not sure about something, don’t hesitate to ask
12 Tips on How to Get a College Scholarship
 Maintain your GPA

Keep your grades up! A higher GPA will increase your chances of
receiving funds
 Apply!

Scholarships can be a lot of work but don’t make the mistake of not
applying at all
The Big Ones….
 Boettcher Scholarship
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Merit Based
Full ride to CO institution
27 or higher on ACT
Top 5% of class
Based on community service,
academic achievement and
excellent character
Interview if selected as semifinalist
Deadline: Oct 24 at 11:59 a.m.
 Daniels Fund Scholarship
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Must demonstrate financial
need (EFC calculator)
17 or higher on ACT
Not a full ride but covers all
unmet need after EFC
Can attend any 2 or 4 year
institution in U.S.
Based on character,
willingness to work hard,
passion to succeed, and
commitment to giving back to
community
Interview if selected as semifinalist
Deadline: November 15
College Searching and Applications
The thing about schools like
Harvard and Yale, is that they
don’t care at all about the fact you
have a high GPA. ALL students
who apply have high GPAs
What you need to do is highlight
what makes you unique and
special for admission or
scholarship monies
IB and AP Matters!
 GPA and rank are becoming less reliable measures of
absolute academic achievement.
 IB curriculum, course content, and grading IS a reliable
measure of academic performance…… use this fact and
how the IB experiences has affected you in all your
scholarship and/or college application essays and
interviews!
 Colleges who know IB students, know that IB
means students know how to think!
Stress How IB Has Changed You…
 As an IB student, you have taken a very rigorous liberal arts
education
 This is something that ALL scholarship and college
applications, as well as recommendation letters should
stress
 Be sure to include how IB has changed you, specifically in
your actions
 This change makes you UNIQUE!
NACAC Top Ten Tips for Writing a College
Essay
1.
2.
3.
4.
5.
Start early
Be yourself – don’t write what you think others
will want to hear
Be honest – don’t “borrow” someone else’s story
– college admission officers are experts at
spotting plagiarism
Take a risk – don’t write about what everyone is
writing about
Keep in focus – stick to the main theme
NACAC Top Ten Tips for Writing a College
Essay continued
6. Write and rewrite
7. Get a second opinion (criticism is good!)
8. Proofread (spell check, read your essay aloud)
9. Be accurate (if submitting online, don’t use
“email language”). Use formal language
10. Don’t forget the “whole package” – academics,
extracurricular, application, standardized exams
Myths About College
 Senior Year doesn’t count
 You are responsible for maintaining your grades all year
long
 Colleges are good or bad
 Rate the college according to your needs. Is it a good fit?
 Colleges that cost more or are harder to get into are
of higher quality


Cost is not a reflection on the standard of education
Many schools have in- & out-of-state quotas
Myths About College continued
 Colleges always choose the “best” students
 Admission officers are human
 Test scores are the most important criterion in
college admissions

For most colleges your high school transcript is more
important
 Some secret strategy can get me admitted into a
college

You and record will!
Pitfalls for Students to Avoid
 You vs your parents – communication is key
 Procrastination – break tasks down into smaller
manageable tasks
 Disorganization
You drove
them to
Kindergarten
in the hopes
that
someday
they will
drive
themselves
to college.
Letting your students take the
wheel….
If you wish to receive scholarship
notifications and information,
please be sure to add your name to the
IB Parents Distribution List
QUESTIONS?