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Understanding College Funding and Financial Aid

Understanding College Funding and Financial Aid. Polk State College Chain of Lakes Collegiate High School 2013-2014 Guidance Department. MONEY FOR COLLEGE. Financial Aid Options Federal Grants (FAFSA) Florida Bright Futures Scholarship Florida Pre-Paid Program

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Understanding College Funding and Financial Aid

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  1. Understanding College Funding and Financial Aid Polk State College Chain of Lakes Collegiate High School 2013-2014 Guidance Department

  2. MONEY FOR COLLEGE Financial Aid Options • Federal Grants (FAFSA) • Florida Bright Futures Scholarship • Florida Pre-Paid Program • Family College Funds/Savings • Private Grants/Scholarships • Parent or student employer benefits/tuition reimbursement, corporations, small businesses, churches, private organizations, community service organizations, etc. • College Work Study Programs • Student Loans • Last resort funding – MUST BE PAID BACK! • Check out Loan forgiveness programs for critical-need career options.

  3. What is it? • Government-funded financial help for eligible students to pay for post-secondary educational expenses. • Types? • Pell Grant – Does not have to be paid back • Work study – On-campus jobs • Student Loans – Low interest, extended pay-back period • Who should apply? • Everyone, with very few exceptions.

  4. What do I need to Apply? • Student and parent Social Security numbers • U.S. Citizen ID or Alien Registration • Federal income tax return information for prior year • Income estimation allowed in some cases • Other income information • Basic demographic information

  5. FAFSA: Will I get money? • Pell grants are given based on need. • Low interest student loans can be obtained by almost any student regardless of income. • Last resort funding option • Parents are financially responsible for students regardless of current situation in most cases. • Parents tax and income information must be submitted • Financial aid officials at the college that you plan to attend can help in extreme circumstances • Most colleges and universities require students to submit a FAFSA form to qualify for any type of scholarships or other financial aid regardless of income.

  6. FAFSA: What expenses are covered if I get aid? • Tuition – paid to the school first. • Room, Board, & Books – usually paid to school after tuition is covered. • Disbursement Funds (if any) – leftover funds used for living and other expenses given to student. • Multiple awards – additional funds can be used for other expenses or “STACKING”. • Private scholarships – may be issued to student directly or to school financial aid office.

  7. FAFSA: How Do I Apply? • FAFSA Online • Website: www.fafsa.ed.gov • CAUTION!! • DO NOT USEfafsa.com • This is a for profit fee-based service!!

  8. Bright Futures • Eligibility • www.facts.org • All MUST register online after Dec 1st of Senior Year at www.floridastudentfinancialaid.org (1-888-827-2004) • If a student fails to apply before graduation date, benefits will be lost forever • Student records will be uploaded from district • Students may check status on FACTS.ORG with a student account • Programs & Awards (NOTE: Criteria getting tougher…): • Student must meet all criteria by graduation date • Florida Academic Scholars (FAS) set amount • Florida Medallion Scholars (FMS) set amount • Florida Gold Seal (GSV) set amount

  9. Must complete standard HS requirements • Must achieve GPA of 3.0 for FMS or 3.5 for FAS • Calculated only on core courses! • Must complete core course requirements • English (4) • Math (4) Algebra 1 and above • Science (3), 2 with labs • Social Science (3) • Foreign Language (2) Must be in same language!

  10. GRADUATION YEAR SAT ACT Florida Academic Scholars: 2011-2012 1270 28 2012-2013 1280 28 2013-2014+ 1290 29 Florida Medallion Scholars: 2011-2012 980 21 2012-2013 1020 22 2013-2014+ 117026 SAT based on Critical Reading and Math sections only. ACT based on English, Reading, Math, and Science sections only.

  11. Additional Bright Futures Requirements • Community Service Hours • FAS – 100 hours • FMS – 75 hours • GSV – 30 hours • FAFSA Requirement • Students are nowrequired to submit a complete, error-free FAFSA for Bright Futures and renewal eligibility any time prior to disbursement. No FAFSA = No Money!

  12. Polk Education Foundation • Scholarship listings and application available on-line: February 8, 2013 • Deadline: March 2013 TBA • Packets to Guidance before deadline TBA • Always check website for updates: • www.polk-fl.net/students/collegeandcareer/financialaid/pefscholarships.htm • Deadline comes fast so do not delay.

  13. Polk State College Foundation Scholarships • Numerous endowed scholarships available for a variety of students attending Polk State College • The Polk State College Foundation will begin accepting applications for endowed scholarships February 1, 2013. The application process will close March 15, 2013. • Always Check Website for updates/dates • Apply online: • http://foundation.polk.edu/scholarships/

  14. Private & Individual Scholarships • COL College/Career Advisor • i.e. Ms. Mendoza • Resources listed on COL website • http://www.colpsc.com/ • Most require essays • Many are targeted for specific student populations. • Some are need-based others are merit-based. • Read each description carefully.

  15. COLLEGE TRANSCRIPT REQUESTS • Request college transcripts through student’s PASSPORT account online. • Small fee does apply. • Students can also visit the Polk State College Registrar’s Office for help with college transcripts.

  16. Additional Resources • www.facts.org (Academic Advising) • www.collegeboard.com (SAT) • www.act.org (ACT) • www.florida.access.bridges.com (Career Inventory) • http://www.bls.gov/oco/ (Career Information) • www.fastweb.com (Scholarships) • https://bigfuture.collegeboard.org/ (College Search)

  17. NEVER pay for a grant or scholarship search service! • All legitimate scholarship and grant information, government or private, should be accessible to everyone free of charge. • Pay attention to deadlines! Many deadlines related to financial aid are not flexible – you can easily miss opportunities! • Be cautious about “Who’s Who” award notices and book offers. • If it involves money from you, be cautious!

  18. Contacts Dr Peter Preston – Guidance Counselor Phone: 298-6800 ext. 2846 Email: ppreston@polk.edu Office WCL-132 Ms Josefina Mendoza – College/Career Advisor Phone: 297-6800 ext. 5232 Email: jmendoza@polk.edu Office WCL-133

  19. Important Dates • February 5 & 21 – COL recruit nights • March 1st – Application lottery deadline • March 25-29 – Spring Break • March 19 – NHS Induction Ceremony 6:30 pm • April 20 – COL Prom • April 11 – Cake Auction & Drive for Success

  20. Important Dates • April 26 – Grad Night @ Universal Studios • May 7 – Founder’s Day & Polk State College graduation • May 24 – Last day for Seniors • May 30 – Senior Awards 6:30 pm • June 1 – COL Graduation 3:30 pm

  21. QUESTIONS? WHO? HOW LONG IS THE WAIT? WHAT? WHERE?

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