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How to Pay for College?

How to Pay for College?. Dr. Alfredo Perez-Davila perezd@cl.uh.edu. First Consider Total Cost and Compare. Over 8 Semesters (Assuming no increases). UT-Austin 10500 * 8 = $84,000 2 Years at CC + 2 years at UHCL 4000 * 4 + 5500 * 4 = $38,000 $38,000 is still A LOT OF MONEY!!!.

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How to Pay for College?

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  1. How to Pay for College? Dr. Alfredo Perez-Davila perezd@cl.uh.edu

  2. First Consider Total Cost and Compare

  3. Over 8 Semesters(Assuming no increases) • UT-Austin 10500 * 8 = $84,000 • 2 Years at CC + 2 years at UHCL 4000 * 4 + 5500 * 4 = $38,000 • $38,000 is still A LOT OF MONEY!!!

  4. Answer : Financial Aid • How do I get it? • STEP 1 • FAFSA – FREE Application for Federal Student Aid • http://www.fafsa.ed.gov/ • Paper Copy in Financial Aid Office • Result: • Student Aid Report  Expected Family Contribution • Based on SAR, School produces Financial Aid Award

  5. Financial Aid Award/Package • One or more of: • Grants (Pell Grants, FSEOG, State Grants) • Based on financial need • Gift Money does not need to be repaid • Scholarships (NSF Scholars, TSCS, others) • Gift Money does not need to be repaid • Based on field of study and personal record • Federal Work Study Program • Based on financial need/sponsored by government. • Encouraged to work in study area (get experience) • Loans (Money that needs to be repaid)

  6. Types of Loans • Federal Perkins Loans • Federal Stafford Subsidized and Unsubsidized Loans • Based on School Year • No CREDIT QUALIFICATION REQUIRED • Federal PLUS Loans for Parents • Easy CREDIT QUALIFICATIONS • If Denied => Additional Stafford Loan Available • Private/Alternative Loans for Students • Typically CREDIT BASED

  7. Limits for Stafford Loans • Year 1: $2625 • Year 2: $3500 • Year 3-5: $5500 • If Parent’s PLUS Loan Request is Denied • Year 1 and 2: Up to an additional $4000 • Year 3 and 4: Up to an additional $5000

  8. Scholarships for CS/CIS/CSEN/MATH • TSCS (only for Computer Science) • Can pay for ALL books, tuition and fees while attending CC or UHCL • Easy application • http://sce.uhcl.edu/tscs/ • UHCL NSF Scholar Program • Scholarship worth $2600 to $5000 while attending UHCL • Easy application • http://sce.uhcl.edu/nsfcsems/

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