“Show Me The Money: Scholarships, Financial Aid,
and Making the Right College Choice”
Written by Mychal Wynn
www.accessandequity.org/blog
Sunday, January 27, 13
The Posse Foundation: Full 4-year Tuition Scholarships
Elisa Turner: posse@accessandequity.org
Sunday, January 27, 13
Quest Bridge Program: Scholarship and Admissions Assistance
Kim Sackey: questbridge@accessandequity.org
Sunday, January 27, 13
Gates Millennium Scholars Program: Undergraduate through Doctorate
Mychal and Nina Wynn: gms@accessandequity.org
Sunday, January 27, 13
Sunday, January 27, 13
You have to read.
Sunday, January 27, 13
•
Over 8 out of 10 students need financial aid
•
9.4 million students qualify for the Federal Pell
Grant ($5,550)
•
Students have borrowed $105 billion in Federal
student loans and $22.9 billion in private loans
•
6 out of 10 students who attend state universities
leave with an average student loan debt of $13,600
•
7 out of 10 students who attend private colleges
and universities leave with an average student
loan debt of $29,900
•
Less than half of all students graduate on time!
Reading with help you to gain a greater understanding of the importance
of developing you college admissions and financial aid strategy.
Sunday, January 27, 13
Name
Scholarships
Minority
Scholarships
First Generation
Scholarships
SAT Score
Scholarships
Engineering
Scholarships
Community Service
Scholarships
You have to surf the Internet.
Sunday, January 27, 13
As a result of becoming emotionally committed or
failing to apply to the right colleges:
•
61.3 percent of students “undermatch” as a result
of their failure to apply to academically matched
colleges
•
Undermatching frequently results in lower college
graduation rates and higher student loan debt
Good students frequently make bad college choices
Sunday, January 27, 13
Major Universities
Liberal Arts Colleges
1. Harvard
1. Williams (MA)
2. Princeton
2. Amherst (MA)
3. Yale
3. Swarthmore (PA)
4. Columbia
4. Middlebury (VT)
5. University of Chicago
5. Pomona (CA)
6. MIT
6. Bowdoin (ME)
7. Stanford
7. Wellesley (MA)
8. Duke
8. Carleton (MN)
9. Penn
9. Haverford (PA)
10.CalTech
10.Claremont McKenna (CA)
The more selective the school, the more need-based
financial aid they typically have.
Sunday, January 27, 13
The consequences of making the wrong college choice
can leave you and your family in debt for years.
Sunday, January 27, 13
1. Transcript
2. Awards
3. Summer Programs
4. Letters of
Recommendation
5. Essays
6. Résumé
7. Tax info
8. College Research
9. Scholarship Research
You have to get organized.
Sunday, January 27, 13
Each student needs a college strategy that reflects who they
are and a financial aid plan that reflects what they need.
Sunday, January 27, 13
1. Tuition
2. Room and Board
3. Books and Fees
4. Expenses for preparing
their dorm or apartment
5. Living expenses,
transportation, and
spending money
You will not have to apply for hundreds of scholarships or become
“Million Dollar Scholar.” You only need scholarships to cover 5 things.
Sunday, January 27, 13
No matter how “special” you are, there are thousands of
other “special” students applying for limited resources.
Sunday, January 27, 13
Financial aid Office
Prepare to stand in this line each semester
that your financial aid is not in order!
Sunday, January 27, 13
Complete the FAFSA (www.fafsa.ed.gov)
Sunday, January 27, 13
Go to www.gacollege411.org
Sunday, January 27, 13
Georgia Resident-students
Georgia
Perimeter
College
Univ. of
Georgia
Morehouse
College
Univ. of
Alabama
Emory
Williams
College
Tuition &
Fees
$2,736
$9,842
$24,744
$21,900 $42,980
$44,920
Room &
Board
$5,040
$8,758
$12,672
$10,781 $12,000
$11,850
Books &
Supplies
$1,500
$1,000
$2,000
$1,100
$1,100
$800
Other
$3,640
$2,400
$7,750
$3,458
$2,100
$2,142
Total
$12,916
$22,000
$47,166
$37,239 $58,180
$59,660
$4,675
$5,269
$7,345
Average
Student
Loans
$12,463
$6,225
$5,511
Research the costs for the schools on your list
Sunday, January 27, 13
It is important to know when you need help,
and more importantly to ask for help.
Sunday, January 27, 13
Your classes, programs, activities, and community service should
reflect your dreams, aspirations, interests, and passions.
Sunday, January 27, 13
Career
($85,580)
Career
($65,676)
Career
Military
Commission
($54,756)
Career
($37,388)
Vocational School
Work
($33,176)
Ph.D./Ed.D.
J.D.
M.D.
Doctoral
Bar Exam
Residency
Grad School
Law School
Med School
Community College
Military Enlistment
4-year College
College
High School
Your plans after high school should be reflected in your essays.
Sunday, January 27, 13
Consider the level of education you are planning to pursue.
Sunday, January 27, 13
Knowing your college major will focus your scholarship efforts.
Sunday, January 27, 13
Lifetime earnings vary significantly by career choice.
Georgetown University Center on Education and the Workforce
Sunday, January 27, 13
Research future jobs and salaries for what you plan to major in
U.S. Bureau of Labor Statistics Occupational Outlook Handbook
www.bls.gov/ooh/
Sunday, January 27, 13
Your middle-through-high school course schedule should be
consistent with your long-term dreams and aspirations.
Sunday, January 27, 13
Your high school transcript is the key to unlocking tens of thousand
of dollars in scholarships and merit-based financial aid.
Sunday, January 27, 13
Academics
Extracurricular
Activities
Personal
Qualities
Intangibles
Consider college preparation and scholarships as the
“Fantastic Four”—Academics, Extracurricular Activities,
Personal Qualities, and Intangibles with each area providing
admissions and financial aid opportunities
Sunday, January 27, 13
Extracurricular Community
High School
Transcript
Summer
Programs
Résumé
Recommendation
Letters
Activities
Essays
Leadership
Interview
Service
Awards
SAT/ACT
Scores
Gifts &
Talents
Give yourself a score of 0 - 8 based on how strong you are in each
piece of the puzzle and total your score.
Sunday, January 27, 13
Financial
Aid
Gifts &
Talents
GPA
SAT/ACT
Scores
Sports
Art
Music
Develop your plan based on your gifts, talents, interests,
personality, and circumstances.
Sunday, January 27, 13
Developing the best plan requires a team.
Sunday, January 27, 13
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Sunday, January 27, 13
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Not developing a team can leave you with a “Red Dot!”
Sunday, January 27, 13
1. Pell Grant ($5,550)
2. FSEOG ($4,000)
3. TEACH ($4,000) and other
loan forgiveness programs
4. Iraq/Afghanistan Service
Grants ($5,550)
5. State Programs
6. Military Programs
7. State Employee Programs
8. Civil Service Programs
9. Federal Student Loans
Government Grants and Loans
Sunday, January 27, 13
1. 5 Military Service
Academies (covers all
costs)
2. AFROTC, ROTC, NROTC
National Scholarships
(covers tuition only)
3. MSI Scholarships
(covers tuition only)
4. Frederick C Branch
Marine Leadership
Scholarship (covers
tuition only)
The military service academies and ROTC programs provide
important options that must be carefully considered.
Sunday, January 27, 13
Understanding your “Intangibles” will help
define the type of financial aid you pursue.
Sunday, January 27, 13
Merit-based financial aid associated with achievement
is typically associated with your gifts and talents.
Sunday, January 27, 13
There are literally scholarships available for every student, whatever
his or her gifts, talents, personality, or circumstances.
Sunday, January 27, 13
1. National Beta Club
2. Future Business
Leaders of America
3. Junior
Achievement
4. National Honor
Society
5. Student Leadership
Choose clubs and organizations that are a
good fit for your personality.
Sunday, January 27, 13
Sunday, January 27, 13
Merit-based aid typically does not require that you
demonstrate financial need.
Sunday, January 27, 13
2012 ACT Performance
High School Only
2-year
4-year or
higher
Ready for
College
Asian
15%
2%
83%
42%
White
9%
5%
86%
32%
Pacific Islander
15%
4%
81%
17%
Native American
12%
10%
78%
11%
Hispanic
16%
6%
78%
13%
Black
13%
7%
80%
5%
ACT and SAT scores provide access to thousands of
dollars in merit-based financial aid
Sunday, January 27, 13
Social costs of school success highest for blacks.
Research findings in an University of Michigan research
study noted:
•
For Asians and Whites, the link between GPA and
social acceptance was strongly positive
•
For Blacks and Native Americans, the relationship
between GPA and social acceptance was reversed.
•
Mexicans showed patterns similar to Blacks while
Cubans, Puerto Ricans, and South Americans
showed patterns similar to Whites and Asians.
Develop your academic “SWAG”
Sunday, January 27, 13
1. SAT scores
2. ACT scores
3. PSAT scores
4. GPA
5. Class Rank
6. AP/IB coursework
7. National Honor Society
8. Pre-college Programs
9. STEM Majors
Your “Academic SWAG” can open the door to more
scholarship money than any other single area
Sunday, January 27, 13
Receiving need-based aid, first requires that
you get accepted.
Sunday, January 27, 13
HBCUs frequently offer more merit-based scholarships
to currently enrolled students (i.e., GPA).
Sunday, January 27, 13
Name
Web Address
Collegedata
www.collegedata.com
Cappex
www.cappex.com
College Confidential
www.collegeconfidential.com
College Prowler
www.collegeprowler.com/
Research College Admissions
Sunday, January 27, 13
You can learn a lot from the Common Data Set
Sunday, January 27, 13
Your essays should “connect” the pieces of your achievements.
Sunday, January 27, 13
“I know that I came to class late, did not turn in my homework
on time, and goofed off most of the time. But, will you write a
letter of recommendation for me?”
Sunday, January 27, 13
For private sources of financial aid, it’s all about numbers.
Complete as many applications as you have time for.
Sunday, January 27, 13
Name
Web Address
Big Future
www.bigfuture.collegeboard.org
College Grants
www.collegegrant.net
CollegeNet.com
www.collegenet.com
College Scholarships
www.collegescholarships.org
College Xpress
www.collegexpress.com
Edudaris Ed. Network
www.edudaris.com
Fastweb
www.fastweb.com
Scholarship America
www.scholarshipamerica.com
Scholarship.com
www.scholarships.com
Scholarship Websites
Sunday, January 27, 13
Start Locally
Sunday, January 27, 13
Define your scholarship search criteria, i.e., race, gender, academics,
test scores, first generation, foster care, etc.
Sunday, January 27, 13
Begin developing your talents as soon as you discover them.
Sunday, January 27, 13
Focus your summers on participating in programs that
further explore your interests and develop your gifts.
Sunday, January 27, 13
Don’t get frustrated when you do not receive a scholarship, use what
you learn to make your next application stronger.
Sunday, January 27, 13
Look for ways to reduce the cost of college
Sunday, January 27, 13
The AP/IB program can literally be worth thousands of dollars in
college savings through college course credit.
Sunday, January 27, 13
Name
Web Address
World Association of Cooperative Education
www.waceinc.org/global_institutions
Cornell University
www.cornell.ed
Drexel University
www.drexel.edu
Elon University
www.elon.edu/home/
George Washington University
www.gwu.edu
Georgia Institute of Technology
www.gatech.edu
Massachusetts Institute of Technology
www.mit.edu
Northeastern University
www.northeastern.edu
Purdue University
www.purdue.edu
Rochester Institute of Technology
www.rit.edu
University of Cincinnati
www.uc.edu
Worcester Polytechnic Institute
www.wpi.edu
Dave McKenney of the McKenney company commented: “The coop program is
Consider
the advantages of attending a coop program
the best thing that Georgia Tech does for its students. Any university can offer
classes
Sunday, January 27,
13
but it takes a stroke of genius to let the intelligentsia of Corporate
College or School
Average Gross SixMonth Co-op Earnings
Arts and Sciences
$14,194
Biomedical Engineering, Science, and Health
Systems
$16,718
Business
$15,163
Education
$10,238
Engineering
$17,082
Information Science and Technology
$17,373
Media Arts & Design
$12,398
Nursing and Health Professions
$13,334
Technology and Professional Studies
$14,170
Sunday, January 27, 13
“A number of colleges have developed financial aid
policies that limit or eliminate student loans from financial
aid packages, reducing costs for students and families.
We have analyzed each of these programs and include
information here for the programs that meet our
guidelines.”
(www.projectonstudentdebt.org/pc_institution.php)
Amherst • Bowdoin • Brown • CalTech • Columbia •
Cornell • Dartmouth • Davidson • Duke • Emory • Harvard
• MIT • NC State • Oberlin • Pomona • Princeton • Rice •
Stanford • Swarthmore • University of Chicago • Vassar •
Vanderbilt • Washington University • Wellesley • Yale •
Williams
If you get accepted into the right college, you may not
have to do any scholarship research whatsoever.
Sunday, January 27, 13
www.collegeresults.org
Sunday, January 27, 13
www.nces.ed.gov/collegenavigator
Sunday, January 27, 13
www.collegemeasures.org
Sunday, January 27, 13
www.projectonstudentdebt.org/
Sunday, January 27, 13
1. Transcript
2. Awards
3. Summer Programs
4. Letters of
Recommendation
5. Essays
6. Résumé
7. Tax info
8. College Research
9. Scholarship Research
Final Thoughts: Get Organized
Sunday, January 27, 13
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Enter!the!item!number,!description,!corresponding!price,!and!quantity!for!each!selection!(e.g.,!#5003,!Follow!Your!Dreams,!$7.95/ea.)!
and!compute!the!total!for!that!item.!Shipping!is!10%!of!the!subtotal,!(e.g,!subtotal!of!$200.00!x!.10!=!$20.00!shipping!charges).!Allow!
two!weeks!for!processing.
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Description!!(Please! Print)!
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Charge!my:!!!!!!❑ Visa!!!❑ Mastercard!!
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SUBTOTAL!
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Shipping!(Subtotal!x!10%)!!
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Add!Handling!
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add!6%!Sales!Tax!
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DATE:!!_________!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!TOTAL!!___________________
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Sunday, January 27, 13