financial aid scholarships · 4.00 7 1360/31 amount 2 or 3 total points = $3000/yr 4 or 5 total...

Financial Aid

&

Scholarships

“Show Me The Money”

3 UNDERLYING PRINCIPLES OF FINANCIAL NEED

1. It is the students’ and the parents’ responsibility to pay for postsecondary education costs.

2. The amount of aid given should be based on the family’s ability to pay, not willingness to pay.

3. The family’s ability to pay should be independent of the amount of financial aid available and the cost of attending postsecondary school.

Independent Student1. at least 24 years old

2. married

3. graduate or professional student

4. veteran

5. member of the armed forces

6. an orphan

7. a ward of the court

8. legal dependents other than a spouse

9. an emancipated minor

10. is homeless or at risk of becoming homeless

Types of Financial Aid

1. Scholarships

a) Merit Based

b) Need Based

c) Unique Characteristics

2. Grants

3. Loans

a) Student

b) Parent

4. Employment

How Merit Scholarships may be AwardedEligibility Grid for

Academic ScholarshipsMoney Value

HS

GPA/GEDPOINTS

*SAT/ACT

Scores

3.40 1 1100/24

3.50 2 1130/25

3.60 3 1170/26

3.70 4 1210/27

3.80 5 1240/28

3.90 6 1280/29

4.00 7 1360/31

AMOUNT

2 or 3 total points = $3000/yr

4 or 5 total points = $3500/yr

6 or 7total points = $4000/yr

8 or 9 total points = $5000/yr

10 or 11 total points = $6000/yr

12 or 14 total points = $7000/yr

* SAT/ACT totals do NOT include the score from the Writing test.

Need Based Scholarships

1) 21st Century Scholars

a) Based on family income

b) Must qualify & be accepted in 6th, 7th or 8th grade.

2) Edwards-Rigdon

3) Janice M. Scott

4) USA Funds

5) Ronald McDonald House Charities

6) Burger King Scholars Program

Unique Characteristics Scholarships

1) Priscilla Himsel Carrington MemorialHave Type 1 diabetes

2) Nancy Jaynes MemorialParent battling breast cancer or lost battle with breast

cancer.

3) Horatio Alger Scholarship ProgramOvercome adversity in life

GRANTS

Free Money

Indiana Grants

1. Frank O'Bannon Grant a) Higher Education Awardb) Freedom of Choice Award

2. Twenty-first Century Scholars Program 3. Nursing Scholarship 4. Minority Teacher/Special Education Services Scholarship 5. Summer State Work Study Program Indiana National

Guard Supplemental Grant 6. Part-Time Grant Program 7. Mitch Daniels Early Graduation Scholarship8. Child of Certain Veterans and Public Safety Officers

Supplemental Grant Program

Must complete the FAFSA by April 15th

Federal Grants1. Pell Grant = most popular

2. Teacher Education Assistance for College and higher Education (TEACH) Grant

up to $4,000 per year

teach full time, for 4 years, in a designated teacher shortage area at an elementary or secondary school serving children from low-income families

3. Federal Supplemental Educational Opportunity Grant

Need-based

Must complete the FAFSA by April 15th

Loans

Money that has to be paid back

https://fafsa.ed.gov/

http://studentaid.ed.gov/

Federal Perkins Loan

“Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, students can no longer receive Perkins Loans.”

Federal Direct Subsidized Loans Direct Subsidized Loans are available to

undergraduate students with financial need.

Your college determines the amount you can borrow, and the amount may not exceed your financial need.

The U.S. Department of Education pays the interest on a Direct Subsidized Loan

while you’re in school at least half-time,

for the first six months after you leave school (referred to as a grace period*), and

during a period of deferment (a postponement of loan payments).

Must complete the FAFSA by April 15th

Federal Direct Unsubsidized Loans Direct Unsubsidized Loans are available to

undergraduate and graduate students; there is no requirement to demonstrate financial need.

Your college determines the amount you can borrow based on your cost of attendance and other financial aid you receive.

You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.

If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

Federal Direct Loan LimitsYear

Dependent Undergraduate Student

(except students whose parents are

unable to obtain PLUS Loans)

Independent Undergraduate

Student (and dependent students

whose parents are unable to obtain

PLUS Loans)

Graduate and Professional Degree

Student

First Year$5,500—No more than $3,500 of this

amount may be in subsidized loans.

$9,500—No more than $3,500 of this

amount may be in subsidized loans.

Second Year$6,500—No more than $4,500 of this

amount may be in subsidized loans.

$10,500—No more than $4,500 of this

amount may be in subsidized loans.

Third and Beyond (each year)$7,500—No more than $5,500 of this

amount may be in subsidized loans.

$12,500—No more than $5,500 of this

amount may be in subsidized loans.

Maximum Total Debt from

Stafford Loans When You

Graduate (aggregate loan limits)

$31,000—No more than $23,000 of this

amount may be in subsidized loans.

$57,500—No more than $23,000 of this

amount may be in subsidized loans.

$138,500—No more than $65,500 of

this amount may be in subsidized

loans. The graduate debt limit includes

Stafford Loans received for

undergraduate study.

$20,500—No more than $8,500 of this

amount may be in subsidized loans.

Repayment of Federal Direct Loans

Six month grace period

Multiple repayment plan options = 10-25 years

Interest Rates

Undergraduate

Student = 5.05%

Graduate

Student = 6.6%

Direct PLUS Loans

1. For parents of dependent undergraduate students.

2. Parents can borrow the cost of attendance minus other aid.

3. Repayment begins upon final disbursement of the loan.

4. Repayment can be deferred while student is in college

1. Interest continues to accrue while in deferment.

5. Current interest rate is 4.248%.

6. 10-25 years to repay loan.

EmploymentAllows student to earn money to help pay educational

costs

Monetary compensation

Federal Work Study program = Must complete FAFSA

Tutoring

Non-monetary compensation

Resident Assistant = free or reduced room and board

FAFSA Deadlines & Facts1. Year Planning to Attend College = 7/1/19 6/30/20.

2. You will submit the 2019-2020 FAFSA.

3. You may begin applying on October 1, 2018.

4. The final date to submit a corrected FAFSA = 6/30/20

5. The recommended final date to submit your FAFSA in Indiana is = March 10, 2019.

6. You will use your 2017 tax information.

Finding Scholarships

1. Scholarship Search Sites

1. TWHS Guidance “Links” Page

2. Scholarship Application Sites

2. TWHS Guidance “Scholarships” Page

BROWSE – BROWSE – BROWSE – BROWSE

SCHOLARSHIPS

Hendricks CountyCommunity Foundation

Click on Grants

Complete an Application Now!

Begin Search or Sign In

Hendricks County Community Foundation

TWHS Students Only All Hendricks County Students

Atkinson-Ellis (2) Duke Energy

Gregory Alan Brown Memorial Edwards-Rigdon

Louise W. Broyles Memorial Gary King Excellence in Baseball

Richard H. Crosser Memorial Gladys V. Pritchett

Milburn & Mildred Smith Memorial Lilly Scholarship

Frank Cook Family Creative Arts

Hendricks Co. Law Enforcement

Hendricks Co. Tourism/Hospitality

Shelby Rae Smith Memorial

Complete the Common Application Claudia Sproull Memorial

Due date is September 12, 2018 Priscilla Himsel-CarringtonJenny Miller Memorial

Complete The Process

Tri-West Dollars for Scholars

http://tri-west.dollarsforscholars.org/

Login To Begin The Application

Other Local Scholarships

1/31/19 = Tri-West Dollars for Scholars Phone-a-Thon

1/31/19 = Tri-West Quarterback Club

1/31/19 = Larry Rambis Leadership Award

1/31/19 = NWHSC Education Foundation

1/31/19 = Tri-West Bruin Backers

3/15/19 = ADK/PSI Chapter

4/19/19 = Steel Dynamics (2)

4/19/19 = NWHCTA Education

4/19/19 = Lizton Knights of Pythias

4/19/19 = Lizton Lions Club

FAFSAFree Application For Federal Student Aid

Class of 2019

Start filling out on October 1, 2018

DUE BY April 15th

Use 2017 tax information

Complete on-line

Class of 2020

Start filling out on October 1, 2019

Use 2018 tax information

Complete on-line

Financial Need+ Cost of Attendance

– Expected Family Contribution (EFC)

= Financial Need

FAFSA Day on Tuesday, October 11th

3:00 p.m. – 7:00 p.m.

Bruin Lab

https://www.indianacollegecosts.org/

Comparing College CostsPublic

#1

Private

#1

Private

#2

Private

#3

Tuition

Room & Board

Activity Fees

Books and

Supplies

Total CostRank

Academic

Scholarships

Matching

Scholarships

Honors

Diploma Award

Total AwardsRank

Expected Net

CostRank

College ExpensesPublic

#1

Private

# 1

Private

#2

Private

#3

Tuition 5700 19376 22270 20820

Room & Board 6700 6564 6920 7180

Activity Fees 210 265 470Books and

Supplies 1200 1200 1200 1200

Total Cost 13810 27140 30655 29670Rank 1st 2nd 4th 3rd

Academic

Scholarships

Matching

Scholarships

Honors

Diploma Award

Total AwardsRank

Expected Net

CostRank

College AwardsPublic

#1

Private

#1

Private

#2

Private

#3

Tuition

Room & Board

Activity Fees

Books and

Supplies

Total CostRank 1st 2nd 4th 3rd

Academic

Scholarships 450 5000 11000 6000Matching

Scholarships 900 500Honors Diploma

Award 250

Total Awards 450 5900 11000 6750Rank 4th 3rd 1st 2nd

Expected Net

Cost

Rank

Net Cost (2009)Public

#1

Private

#1

Private

#2

Private

#3

Tuition 5700 19376 22270 20820

Room & Board 6700 6564 6920 7180

Activity Fees 210 265 470Books and

Supplies 1200 1200 1200 1200

Total Cost 13810 27140 30655 29670Rank 1st 2nd 4th 3rd

Academic

Scholarships 450 5000 11000 6000Matching

Scholarships 900 500Honors Diploma

Award 250

Total Awards 450 5900 11000 6750Rank 4th 3rd 1st 2nd

Expected Net

Cost 13360 21240 19655 22920Rank 1st 3rd 2nd 4th

Summary1. Browse the Guidance home webpage.

2. Conduct scholarship searches

3. Start applying for eligible scholarships

4. Complete the Hendricks County Foundation Common Application by September 13th

5. Participate in FAFSA Day on October 10th

6. Complete the Dollars for Scholars ApplicationBy February 28th

7. Complete the FAFSA by April 15th.

8. Ask questions of Mr. Linn or Mr. Acton.

9. Comparison shop.

Good Luck