Post on 03-Jan-2016
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Planning Ahead Can Save You Time & Money
Funding Your Education Wisely
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Value and Cost of Postsecondary
Education
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
The Value of Higher Education
Source: Bureau of Labor Statistics, Current Population Survey7
Source: Current Population Survey, U.S. Department of Labor, U.S. Bureau of Labor Statistics
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Cost of Higher Education70% 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 2015Fidelity, 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Choosing the Right Career and College for
You
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Choosing Your CareerInvestigate career options using free online tools
Find out if a career is right for you Job Shadowing Volunteering Internships
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Choosing Your SchoolCollege Navigator
Factors to Consider Cost Location
State, Region Suburban, Urban, Rural
SizeDegree and Major
OptionsReligious Affiliation
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Choosing Your School
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Wealth of InformationAdmissions ProfileAverage Cost by
Income RangesGraduates per
ProgramCampus Safety
Statistics
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
The Right ChoiceThe 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Sources of Funds
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Federal Government
State Government
College/University
Private Donors
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Types of Financial Aid
Gift AidScholarshipsGrants
Self-HelpEmployment (Work Study)SavingsLoans
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
ScholarshipsColleges & 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Scholarship TipsCreate Scholarship ResumeGet OrganizedScholarship folderSample essays Identify deadlinesBalance Time
Beware of Scams
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Spend 2-4 hours per week searching for scholarships
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Scholarships – Get Creative!There’s something for everyone!Have fun searching your favorite things.
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
GrantsFederal 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
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
Work-Study & Savings
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
RememberLoans MUST Be Repaid!
Education LoansFederal Direct Loan (4.29%, 1.068% fee) SubsidizedUnsubsidized
Federal Parent Loan for Undergraduate Students (PLUS) (6.84%, 4.272% fee)
Private Education Loans (Varies)
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(Interest Rate for loans disbursed on or after 7/1/15, Loan Fees for loans disbursed between 10/1/15 – 9/30/16)
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Free Application for Federal Student Aid
(FAFSA)
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
The Importance of the FAFSAFree 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 EFC25
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
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.26
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Net Price CalculatorsProvide 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Net Price Calculatorshttp://collegecost.ed.gov/
netpricecenter.aspx
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Sample net price calculator data from an Indiana public institution
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Expected Salary & Debt ImpactInvestigate your expected salary
Hoosier Hot 50 Jobs
Understand the impact of borrowingStudent Loan Game Plan
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Simple Comparisons School A School B 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Comparison TipsFederal aid typically the same but may varyState aid varies based on school type and grant program Institutional aid varies from school to schoolReview the impact of housing options on both cost and aid
Remember to include your EFC when comparing college costs
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Professional Online PresenceAppropriate 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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Evaluation of Scholarship ApplicantsWhen 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%)
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Survey of 300 National Scholarship Providers Association (NSPA) members who provide more than $1 Billion in scholarships
ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
Evaluation of Scholarship ApplicantsScholarship providers review online content 25% of scholarship providers selected an applicant 33% denied an applicant a scholarship
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
We’ll Help…Provide us with your Name and E-Mail and we’ll provide you with advice on…
Investigating the right career pathChoosing the right collegeSearching for scholarshipsCompleting financial aid forms, and more!
Get started now at:
ISMCollegePlanning.org
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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
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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ISMCollegePlanning.orgTrusted Advice for Smarter Choices!
ISM on Social MediaFacebook www.fb.com/ISMCollegePlanning
Twitter @ISM_CollegePlan
Others Instagram –
www.Instagram.com/ISMCollegePlanning Pinterest - www.Pinterest.com/ISMCollegePlan
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