Copy of FAFSA Prezi for GFL

Paying for College - What is typical?
What is Financial Aid?
Paying for College - Savings
College - Have a Plan!
Misconceptions
A college degree and a high GPA will guarantee a good first job
Source - How America Pays for College, 2013. Sallie Mae’s National Study of College Students and Parents
Funds to help pay for post-secondary expenses
Part-Time Job
Start a Savings Account
Ask for cash for gifts and put it in savings!
Paying for College - FAFSA
FAFSA
Short for FREE Application for Federal Student Aid

This is the application to find out
Which federal aid you qualify for.
How much federal aid you qualify for.

*****Some Universities and Colleges require the FAFSA to be
considered for any aid or scholarships.

In order to be considered for any school scholarship
awarded by the University of Utah -- You have to complete
the FAFSA.
Paying for College - FAFSA
Who can get FAFSA?
Paying for College - FAFSA
Sources of Aid

Federal Programs
State Programs
Institutional Programs
Community Programs
U.S. Citizen or Permanent Resident
High School Graduate or GED Holder
Eligible Degree/Certificate Program
Valid Social Security Number
Males must be registered for the Selective Service
Students must make satisfactory academic progress
Free Money - does not have to be repaid
2014-15 school year
maximum award is $5,730

Loans and Grants are awarded based on need, cost of attendance, full-time status
Paying for College - FAFSA
Work Study Programs
Full or part-time jobs where students work to pay
for education related expenses.

Often provides
Flexible hours
Usually on-campus
Work experience
Money is part of your financial aid package

Must check the "I'm interested in Work-Study" box on the FAFSA
Paying for College - FAFSA
How do I know if I qualify?
Start with the FAFSA4caster
Gives you an estimate of aid you may receive
You won't know if you qualify unless you apply!
Some scholarships require that you have submitted FAFSA


Paying for College - Scholarships
Institutional Scholarships
85% of scholarship $$ comes from colleges
Academic (ACT/GPA)
Diversity (ethnicity)
Leadership
Athletics
Departmental (Arts/Music/Business, etc)
Most colleges use an index to determine what scholarships students qualify for -- your school counselor has updated information on this.

Schools in Utah with a scholarship index include:
Utah State
Weber State
Utah Valley University
Southern Utah University
BYU

The index takes your ACT and GPA together to determine eligibility.
Paying for College - Institutional Scholarships
Utah Valley University Scholarship Index 2014-15
Paying for College - Savings
Take classes in high school for college credit
Advanced Placement (AP)
Concurrent Enrollment (CE)
Tech Centers (often give CE credit)
For example--
Taking Math 1040 at JHS will cost you
$40-registration + $20-credit + $15 online text = $75 for 4 credits

Registering for 4 credits at SLCC will cost
$616 + $40-registration + $100 text = $756
For example--
Taking AP World History
With a passing score of a 3 or higher on the exam.

AP Test Fee = $94
6 credits at UofU = $1,702.66
For example -
Working part-time at 7.25/hour
20 hours per week
taking out 25% for taxes
saving 50% of take home pay
working for 2 years = $5,437.50
Paying for College - FAFSA
Apply at FAFSA.gov
Apply -- it's FREE!
Available January 1st for students entering college in September
Colleges may have FAFSA Deadlines
You have to apply to find out if you are eligible!
Paying for College - FAFSA
Any money borrowed must be repaid
Parent Loans and Student Loans
Federal Loans and Private Loans
Subsidized
No interest while in school half-time or more
Unsubsidized
Interest builds while in school but deferred
Borrow only what you absolutely need!
You do not have to take out a loan if you don't need it.
You do not have to take all of the money offered to you.
Loans and Grants are awarded based on need, cost of attendance, full-time status
Grants
Loans
Paying for College - FAFSA
How do I start?
FAFSA.gov after January 1st
Items needed
Social Security or Alien Registration Numbers
Student Driver's License
Federal Income tax returns (Parent and Student)
Bank Statements (Parent and Student)
FAFSA Pin Number (pin.ed.gov)

Paying for College - Scholarships
Given by individuals or organizations based on specific criteria
Alumni/Legacy
Employer Sponsored
Community Organizations (Kiwanis, Elks, etc.)
Company Sponsored (Gates Millennial, Coca-Cola)
Paying for College - Private Scholarships
Start looking at any time -- they are available for all grades.
Search engines like
fastweb.com
cappex.com
kaarme.com
zinch.com
Utahfutures.org
College Financial Aid Websites

You should never pay to apply for a scholarship.
Private Scholarships
2014-2015 Tuition

SLCC = $3,170
UVU = $4,542
UofU = $7,876
**If you drop out of school mid-semester or become ineligible for a pell grant (usually due to grades or attendance) you may have to repay a portion of all of the pell grant for that semester.
Paying for College - What is typical?
Source - How America Pays for College, 2013. Sallie Mae’s National Study of College Students and Parents
Considered Financial Aid
Your skills, work ethic and character are a big part of your success.
College means I will automatically earn a lot of money
You'll save money if you train for a job you are interested in!
Plumbers can earn more than a college professor!
Getting into College is the hardest part
It is easy to get into many colleges, it is not always so easy to graduate
4 Year
UofU
Utah State
BYU
SUU
4 Year - Open Admission
Dixie
UVU
Weber State
2 Year
Snow
SLCC
Utah College of Applied Tech
Mountainlands Applied
College of Eastern Utah
LDS Business
Colleges & Universities in Utah
Is College an Investment?
If so, how do we measure an investment's worth?
DEFINITION of 'Return On Investment - ROI'

A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. To calculate ROI, the benefit (return) of an investment is divided by the cost of the investment; the result is expressed as a percentage or a ratio.

The return on investment formula:

ROI= Investment Gain

Investment Cost

How Do We Measure the ROI of Post-High
School Education and Training?
If the income we receive as a result of
the training/education results in less than
10% of that income to service the debt
requisite to receive the training/education

Activity that follows utilizes various scenarios
to help us determine the cost/benefit and ROI
of different types of college and training
Finally, don't forget to
check in with your
counselor. as all
highschools have
school specific
scholarships
opportunities!


Remember: the sooner
you know about a
scholarship and its
requirements,
the better that you
will be able to
prepare to become
its recipient!