Upward Bound Math & Science Center

presents

• Welcome / Housekeeping

• Introduction / Why Financial Aid?

• UTA Student Money Management Presentation

• Financial Aid Facts

• College Budgeting

• Scholarship Winning!

• Reminders

• Program Updates

• Closing

What do you know about FA?

Do you have concerns right now about FA?

Have you looked at ways to pay for college?

College | Costs vs Investment?

1. What are costs versus benefits of attending any school? Interest – investments vs. costs

2. How do we get Financial Aid? FAFSA, use tools to help

3. What are Financial Aid resources to use? Grants(first stop), Scholarships, Loans

4. How do I manage my Financial Aid? Know facts, SAR, Awards, Budget

What you should know

Paying for College Video

There is in

Financial Aid Available

Here is the breakdown:

Source: www.Collegeboard.com

Federal Grants/Loans/

Other Aid

College Grants/

Scholarships

State Grants / Scholarships

Private Grants / Scholarships

Grants

Money that does not have to be paid back

Federal Pell Grant ($605 - $5,645)

Federal Supplemental Educational Opportunity Grant (FSEOG)

Texas Public Education Grant (TPEG)

Mav Grant

Maverick Promise

Texas Grant

Federal Work-study

Allows a student to find a job on campus

Employment is not guaranteed

May work up to 19 hours a week

May earn up to the amount awarded

Federal Direct Loans

The Department of Education is your lender

Repayment begins 6 months after graduation or dropping below half time in school

Student must complete the Entrance Counseling and sign a Master Promissory Note online at www.studentloans.gov after accepting the loan

Direct Loan Interest Rates (Typical) school year (undergraduate students)

Federal Subsidized Loans

– Need based

– 3.86% APR (fixed) – Begins collecting interest 6 months after you graduate or drop below

6 credits.

Federal Unsubsidized Loans

– 3.86% APR (fixed)

– Begins collecting interest when disbursed

Federal Parent PLUS Loan

Parent borrows money from Dept. of Education to pay for child’s expenses

Credit Based

6.41% APR

May apply at: www.studentloans.gov

What if my parent is denied for the PLUS Loan?

Student may request an additional Direct Unsubsidized

– If 1st or 2nd year student, then $4000 ($2000 per semester)

– If 3rd or above year student, then $5000 ($2500 per semester)

College Access Loan

Student borrows money from the State of Texas (limit)

Must be a Texas Resident

Credit-worthy co-signer required

5.25% interest rate (2013-2014)

Repayment begins after graduation or after dropping below halftime

Interest accrues while student is in school

www.hhloans.com

Cost of Attendance – Total costs before Financial Aid (Tuition, books, room)

Net Price – Costs remaining after financial aid is applied to the sticker price

EFC – Expected Family Contribution

Bursar – Office that handles billing and payments of college expenses

FAFSA – Free Application for Federal Student Aid

Grant – Free money usually given from Gov. to attend college

Loan – Borrowed money that is payed back with interest (Subsidized/Unsubsidized)

Scholarship – Like a grant but may have different requirements

Work Study – Federal program to give students jobs during their studies

Resources: http://www.collegeforalltexans.com/

https://bigfuture.collegeboard.org/

Financial Need – How it’s determined…

Cost of Attendance

- Expected Family Contribution (EFC)

---------------------------------------------------------

= Financial Need

Need based aid: grants, work study and subsidized loans

Non-need based aid: unsubsidized loans and private loans

Source: https://bigfuture.collegeboard.org/pay-for-college/paying-your-share/focus-on-net-price-not-sticker-price

Collegeboard Net Price Calculator – Participating Schools: http://studentnpc.collegeboard.org/participating-schools

University of Texas at Dallas (UT Dallas) ◦ Net Price Calculator:

LINK

My Estimated Net Price for Academic Year 2015-16 is $

Massachusetts Institute of Technology (MIT) ◦ Net Price Calculator:

LINK

My Estimated

Net Price for

Academic

Year 2015-16

is: $26,604

Its important to take advantage of a vast amount of scholarships that are available for students.

Use search tools to find scholarships that are just for you – ◦ Major Interest – Nursing, engineering (ME,IE,CE,etc.)

◦ Race

◦ Location (born, or living)

◦ Academic or activity involvement (FCLA, Football, UIL, etc.)

◦ Special circumstances – corrective lenses, left-handed, etc.)

◦ More…

Here are a few, we pulled just for today: See next slide

Check these out now: ◦ Houston Scholarship Online Application $9000-$18000

(Deadline: February 1, 2016) http://www.rodeohouston.com/Scholarships/ApplyforScholarships/ScholarshipTypes

Eligibility / Requirements: ◦Be a graduating high school senior at an eligible school

◦Be a US Citizen and a Texas Resident

◦Complete the Free Application for Federal Student Aid available Jan. 1, 2016

◦Plan to attend an accredited, not-for-profit university in the State of Texas

◦ ASME Engineering Scholarships (Deadline: March 1, 2016)

https://www.asme.org/career-education/scholarships-and-grants/scholarship-and-loans/about-asme-scholarships

Eligibility / Requirements: Texas Resident, Engineering Major, etc.

Financial Aid Review / Recap

Who wants to be a college graduate?

Write down one thing you learned…

Topics:

FAFSA- What is it, how to apply, the process (Demo) FAFSA Worksheet

Tips / Resources

Applying for FA

Spring 2016 ◦ FAFSA / Scholarships

Need FSA ID

Watch School Deadlines!!! (Texas is March 1)

◦ Housing / Orientation

May need Housing Deposit

First Come, First Served

◦ Graduation

Stay Active in Program; get your Graduation Cord!

Summer 2016 ◦ Bridge 2016

Starts Monday, July 11; Classes Start Tuesday

Ends with Banquet on Monday, August 15

Students get to take two (2) college-credit classes

Transferable

Get a head start on the college process!

No Cost! We pay for tuition, fees, books, transportation, and room & board

2016 Summer Intent, due Feb 19th

• Tentative Summer dates: June 5th – July 16th

ICCP Activities

• January ICCP & report cards Due Feb. 1st

• February ICCP available next week

• Turn in any missed activities

Online Tutoring

• Join us online on Feb. 18th at 6pm (CST)

Video Conferencing

• Feb (Recording) – Feb 5th

• March (Recording) – March 1st

2016 Bridge Application, due Feb 1st (priority) / Mar 1st (final)

(next week)

UBMS Program Updates

Final Questions?

Remember to fill out and return the feedback form by Friday, February 5th