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Paying for College

Paying for College. Olympic Community of Schools Guidance Department. Approximate Costs of Selected Colleges and Universities. UNCC $17,220 Wingate University $30,950 UNCW $18, 100 Johnson C. Smith University $26,000 WSSU $17,400 UNC-Chapel Hill $20,666

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Paying for College

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  1. Paying for College Olympic Community of Schools Guidance Department

  2. Approximate Costs of Selected Colleges and Universities • UNCC $17,220 • Wingate University $30,950 • UNCW $18, 100 • Johnson C. Smith University $26,000 • WSSU $17,400 • UNC-Chapel Hill $20,666 • NC State University $19, 555 • NC A & T University $14,111 • Elon University $38,975 • Duke University $48,693 • Spellman $36,317

  3. Funding Sources For College Federal and State Aid/Loans Institutional Aid and Scholarships Private Scholarships Personal and Family Contributions/Loans

  4. Important Terms • Grant/Scholarship….. Awards made by School or Government which does not have to be paid back • Subsidized/Unsubsidized Student Loans….. Awards offered by Federal or State Government that must be paid back. These may have reduced interest or interest that accrues interest only after student graduates. • Work Study…. Financial Aid Program where student works campus job to pay tuition

  5. Federal Student Aid • Students must fill out the Free Application for Federal Student Aid (FAFSA) each year ASAP after January 1st • FAFSA may be competed at www.fafsa.ed.gov after registering for a PIN. Parents must be ready to share personal income information from their Income Tax Returns • Score reports sent to requested schools with your estimated need • Most schools from 4 year colleges to trade schools offer financial aid and require the FAFSA • FAFSA Day in Charlotte sponsored by CFNC.org is Feb. 18that various locations. Visit CFNC.org to register

  6. FAFSA Process • Parent/Child Registers for PIN and Completes FAFSA • Score Reports sent to Colleges/Institutions determining need • College/Institution Reports to student what Federal and State Grants that they qualify for. • College/Institution determines if there are any Institutional Awards the student is eligible for • College/Institution would then communicate information on Student Loans

  7. Loans • Subsidized Loans(Perkins/Stafford)….. government helps pay interest on the loan. Interest rate now is 3.4% • Unsubsidized Loans(Stafford)…interest rate is 6.8% • Repayment of Loans begin 6 months after graduation, or 6 months from the date of not being enrolled full time in school • Direct Plus Loans…. Parent Loans at 7.9% that payment begins after disbursement

  8. Institutional Aid and Scholarships Every school has endowed scholarships given based on special talents(art, theater, athletics, etc), academics, need and other factors. Many automatically consider the student when applying. Make sure to fill out any separate scholarship forms

  9. Private Scholarships • Many private businesses, churches, employers, etc have scholarship funds for deserving students • Apply for all that you qualify for • Olympic Scholarship Newsletter @ Senior English Classes and Bulletin Board outside of Coach Shuford’s office • Resources: Fastweb.com , scholarships.com, CFNC.org, scholarshiphelp.org

  10. Personal Contributions • Money from personal savings, college funds, NC 529 Plan • Students are expected to contribute to paying for college • Private Loans through banks, credit unions, home equity lines, etc.

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