The Middle Class Family Paying for College

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2012-2013 High School Financial Aid Presentation
Bob Montez
Outreach Financial Aid Advisor
COST OF ATTENDANCE (COA)
Estimated Cost for 9 months
24 credit hours for Fall/Spring

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Tuition & Fees
Housing
Books & Supplies
Miscellaneous
Transportation
__
($7084)
($9020)
($992)
($1475)
($953)__
$19,524
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Amount family can reasonably be
expected to contribute.
Stays the same regardless of college.
Calculated using FAFSA data and a federal
formula
Texas Grant
Eligible Pell
Grant
Max Grant
$5550
Max EFC
5000
12 semesters
at full-time
(6 years) or
equivalent of
24 semester
at half-time.
First priority students awarded requirements:
EFC less than 4000 & meeting 2 of the four categories below
I. Advanced Academic Programs



Earn 12 hours of college credit courses (e.g. dual credit, AP); or
Graduate under the Distinguished Achievement High School Plan or
Graduate under the International Baccalaureate High School
Program.
II. Advanced Math

Complete a math course beyond Algebra II
III. Class Standing
 Rank in top 25% of high school class;
 Attain a B average GPA (e.g. 3.0 GPA on a 4.0 scale)
IV. College Readiness
 Achieve college readiness threshold as determined by the
Texas Success Initiative (TSI) (e.g. THEA, COMPASS,
ASET); or
 Be TSI exempt (e.g. meet minimum score on SAT/ACT,
TAKS).
Once all priority students are awarded, the
students who meet the requirements below will be
awarded pending available funding.
$2000/year scholarship
Must be in top 10%
of high school class
Renewable
with 3.25
GPA
Enrolled in
30hrs/yr.
Must have
“financial
need” (At
least $1)
Must submit
FAFSA by
March 15th
Federal
College
Work Study
State
College
Work Study
Community
Service
Jobs
FEDERAL DIRECT STUDENT LOAN
RATES FOR 2012-2013
Direct Subsidized
Loans
• Fixed 3.4%
int. rate, no
payments
while in
school.
Direct
Unsubsidized Loan
• Fixed 6.8%
int. rate, no
payments
while in
school.
Parent Loan for
Students (PLUS)
• Fixed 7.9%
int. rate,
payment
plan varies,
10 year
repayment
plan.
The state has programs for students who:
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Were in foster care
Were adopted (after age 13)
Were the highest ranking scholar for their school
Are blind or deaf
Are Texas Veterans (Hazelwood)
Visit www.collegefortexans.com for fact
sheets & links to other higher education resources
for students
www.FAFSA.ed.gov
Cost of Attendance
Expected Family Contribution
____________________________
=
Financial Need
•
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Presidential Scholars
Islander Scholar
Academic Achievement
The Student Leader Scholarships
Rising Scholars Scholarship
And many others…
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Presidential Top Scholar: $8000/year
Presidential Finalist Scholar: $4000/year
Presidential Scholarship: $3000/year
Islander Scholar: $2500/year
Academic Achievement: $2000 per year
Must meet one of the following qualifications:
• Rank in the top 15% of senior class
• SAT (V+Q) score of 1100 or higher
• ACT composite score of 24 or higher
•
•
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•
First-time freshmen
Top 50% of their high school class
Recipients of another University
Scholarship of $1000 or greater are not
eligible for this scholarship program
$1000 per year
Apply through ApplyTexas.org
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Now combined with online admissions
application
Application available September 1
Deadline to apply is December 1
• Financial aid is intended to make a college
education available to families in a number of
different financial situations; everyone qualifies
for something.
• Income is only one of many factors considered.
• A growing number of institutional and private
scholarships require that students fill out the
FAFSA as part of their application process.
•
If your parent(s) are still alive, federal guidelines
require that biological parent’s information be
used to fill out the Free Application for Federal
Student Aid (FAFSA) unless someone else is your
legal guardian.
•
Guardianship as determined by a Judge or Court
of law in your state of residence. Student may
file as an independent.
A student is NOT considered independent between the ages of
18-24 unless they are married, a veteran, have children and
provide 50% of support to the child, are in legal guardianship,
or have been declared a homeless/unaccompanied youth (proof
needed).
A student filing their own taxes does NOT make them independent.
A student living separate from their parents does Not automatically
make them independent.
•
The parent whom the student resided with the
longest over the last 12 months provides their
information on the FAFSA; both parents are not
required.
•
If you lived with each parent for an equal number
of days, use the income information from the
parent who provided you with the most support
during the last 12 months.
•
"Support" means money for such things as
housing, food, clothing, transportation, medical
care and school.
•
Stepparent's information must be included on
your financial aid application if you lived in the
stepparent's household for 6 weeks (42 days) or
more during the previous or current year or if a
stepparent contributed more than $750 in
"support" during the previous or current year.
•
"Support" means money for such things as
housing, food, clothing, transportation, medical
care and school.
Satisfactory Academic Progress (SAP)
Students receiving Financial Assistance:
Must maintain 2.0 GPA-undergrad
Must complete 67%+ of credit hours attempted
 Failure to meet this standard results in Financial Aid
suspension
 Students may appeal with OSFA
 Students will not receive aid until their SAP is sufficient
 Students must pay for classes while on suspension
themselves
Satisfactory Academic Progress (SAP)
Counselors please be aware, that due to recent federal regulations,
A students dual credit course work can impact their ability to receive
financial assistance as an incoming freshmen.
Example:
History 1301
English 1301
3hrs
3hrs
Dropped Class
D
Student will have a 50% completion rate and a 1.0 GPA
coming into college. This student will be on financial aid
suspension and will now have to appeal with the college’s
Financial Aid office.
PRIVATE SCHOLARSHIPS
Tips for finding scholarships:
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Parent & student’s employers
Student’s middle school and elementary.
Local community & church organizations.
Websites offering scholarship searches:
Fastweb.com
AIE.org
studentscholarshipsearch.com
Institutional Scholarships
•
December 1st
2013-2014 Fall/Spring Financial Assistance
March 15th (Top 10%)
March 31st (FAFSA at TAMUCC)
Summer Financial Assistance
•
February 15
Contact Information
Bob Montez
Outreach Financial Aid Advisor
Office: 361-825-5622
Fax: 361-825-6095
Email: [email protected]
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