Funding Your
Education Wisely
Planning Ahead Can Save
You Time & Money
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College Dreams
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Wrong Choices May Ruin Dreams
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Questions Will Arise
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We’ll Help You Understand…
Value and Cost of Postsecondary Education
Choosing the Right Career & College for You
Financial Aid Types & Sources
The FAFSA
How College Cost is Presented
Social Media
Next Steps
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Value and Cost of
Postsecondary Education
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The Value of Higher Education
Source: Current Population Survey, U.S. Department of Labor, U.S. Bureau of Labor Statistics
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Source: Bureau of Labor Statistics, Current Population Survey
Cost of Higher Education
70% of college graduates have
college-related debt
Average college related debt
$35,200
50% are surprised by how much
they owe
Student Loan Debt has grown to
$1.2 trillion as of June 2015
Fidelity, Cost-Conscious College Graduates - (https://www.fidelity.com/static/dcle/welcome/documents/Fidelity-College-Grad-Study.pdf)
Federal Reserve Bank of New York – (http://www.newyorkfed.org/householdcredit/2015-q2/data/pdf/HHDC_2015Q2.pdf)
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Choosing the Right Career
and College for You
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Choosing Your Career
Investigate career options using free online tools
Find out if a career is right for you



Job Shadowing
Volunteering
Internships
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Choosing Your School
College Navigator
Factors to Consider

Cost
 Location
 State,
Region
 Suburban, Urban, Rural
 Size
 Degree
and Major Options
 Religious Affiliation
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Choosing Your School
Wealth of Information
 Admissions
Profile
 Average
Cost by
Income Ranges
 Graduates
per
Program
 Campus
Safety
Statistics
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The Right Choice
The key is finding a school that offers the
right major AND is a good fit!
Changing majors or schools may add extra
years to college, which means extra
expenses
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Financial Aid
Sources and Types
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Sources of Funds
Federal Government
State Government
College/University
Private Donors
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Types of Financial Aid
Gift Aid
 Scholarships
 Grants
Self-Help
 Employment
 Savings
 Loans
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(Work Study)
Scholarships
Colleges & Universities

Need Based versus Merit Based
Local & Community

Private Businesses, Community
Foundation, Civic Organizations,
Church Groups, School Counselor,
Place of Employment
FREE National Search Sites
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Scholarship Tips
Create Scholarship Resume
Get Organized
 Scholarship
folder
 Sample essays
 Identify deadlines
 Balance Time
Beware of Scams
Spend 2-4 hours per week
searching for scholarships
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Scholarships – Get Creative!
There’s something for everyone!
Have fun searching your favorite
things.
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Grants
Federal



Federal Pell Grant (Max: $5,775)
Federal Supplemental Educational Opportunity
Grant (FSEOG) ($1k – $4k)
TEACH Grant ($4,000)
State


21st Century Scholars
Frank O’Bannon Grant
College or University
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Work-Study & Savings
Benefits of Work-Study



Money can be used for education related
expenses to help keep debt down
Money earned won’t count against you
on your FAFSA the next year
Gain experience and references
Saving for College

Investigate Savings Plan Options
Set a savings goal

Continue saving through college

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Education Loans
Federal Direct Loan (4.29%, 1.068% fee)
 Subsidized
 Unsubsidized
Federal Parent Loan for Undergraduate
Students (PLUS) (6.84%, 4.272% fee)
Private Education Loans (Varies)
Remember
Loans MUST Be Repaid!
(Interest Rate for loans disbursed on or after 7/1/15, Loan Fees for loans disbursed between 10/1/15 – 9/30/16)
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Free Application for
Federal Student Aid
(FAFSA)
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FAFSA.gov
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The Importance of the FAFSA
Free Application for Federal Student Aid (FAFSA)
Currently the the Most Important form when
applying for Financial Aid
Basis for determining eligibility for:
 Federal
Funds (Grants, Scholarships, Loans and Work
Study)
 State
of Indiana (Grants and Scholarships)
 Potential
Institutional Funds (Need-Based)
Determines EFC
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What is EFC?
EFC = Expected Family Contribution.
Two components:


Parent contribution
Student contribution
Calculated using data from the FAFSA and a
federal formula.
Amount family can reasonably be expected to
contribute to the student’s education.
Stays the same regardless of college.
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How College Cost
is Presented
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Net Price Calculators
Provide estimates of Financial Aid Packages
to help families make informed decisions
Cost of Attendance
–
Gift Aid (Grants & Scholarships)
=
Net Price
Colleges are required to include a net price
calculator on their website
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Net Price Calculators
http://collegecost.ed.gov/netpricecenter.aspx
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Sample net price
calculator data
from an Indiana
public institution
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Expected Salary & Debt Impact
Investigate your expected salary

 Hoosier
Hot 50 Jobs
Understand the impact of
borrowing
 Student
Loan Game Plan
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Simple Comparisons
School A
Cost of Attendance*
Federal Gift-Aid
State Gift-Aid
Institutional Gift-Aid
Other Gift-Aid
Work-Study
Loans
Direct Subsidized
Direct Unsubsidized
PLUS Loan
Private Loan
Total Loans
Other
* Includes Tuition, Room and Board, Supplies, and Other Costs
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School B
Comparison Tips
Federal aid typically the same but may vary
State aid varies based on school type and
grant program
Institutional aid varies from school to school
Review the impact of housing options on both
cost and aid
Remember to include your EFC when
comparing college costs
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Social Media
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Professional Online Presence
Appropriate email address, such as
firstname.lastname@gmail.com.
Review social media accounts
removing inappropriate material
and anything that may be
misinterpreted.
Be engaging and personal
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Evaluation of Scholarship Applicants
When reviewing a scholarship applicant’s online
presence, the scholarship providers look for the
following information:
 To
determine whether the applicant demonstrates good
judgment (58%)
 Provocative
or inappropriate photographs or remarks (58%)
 Illegal
activities, such as underage drinking and use of
narcotics (50%)
 To
get to know the applicant better (42%)
Survey of 300 National Scholarship Providers Association (NSPA) members who provide more than $1 Billion in scholarships
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Evaluation of Scholarship Applicants
Scholarship providers review online content

25% of scholarship providers selected an applicant

33% denied an applicant a scholarship
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Next Steps
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We’ll Help…
Provide us with your Name and E-Mail
and we’ll provide you with advice on…
 Investigating
 Choosing
 Searching
the right career path
the right college
for scholarships
 Completing
financial aid forms, and more!
Get started now at:
ISMCollegePlanning.org
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What do I do now?
Stay in touch with school counselor
Register for and take SAT and/or ACT
Begin scholarship searches
Pay attention to applications & deadlines
Go on campus visits
Attend college fairs
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ISM on Social Media
Facebook

www.fb.com/ISMCollegePlanning
Twitter

@ISM_CollegePlan
Others


Instagram – www.Instagram.com/ISMCollegePlanning
Pinterest - www.Pinterest.com/ISMCollegePlan
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Outreach@ISMCollegePlanning.org
317-715-9007
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