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An Overview of State-Level Financial Aid and Outreach Services

An Overview of State-Level Financial Aid and Outreach Services. Presented at the FALL REGIONAL SCHOOL COUNSELOR WORKSHOPS October 1, 2009. Types of Financial Aid. Scholarships Institutional External Grants Federal State Loans Federally Sponsored Student Loans

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An Overview of State-Level Financial Aid and Outreach Services

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  1. An Overview of State-Level Financial Aid and Outreach Services Presented at the FALL REGIONAL SCHOOL COUNSELOR WORKSHOPS October 1, 2009

  2. Types of Financial Aid • Scholarships • Institutional • External • Grants • Federal • State • Loans • Federally Sponsored Student Loans • Private or Alternative Student Loans • Employment • College Work-Study • Off-Campus Employment

  3. Primary Sources of Student Financial Assistance • Institutional • Private • State • Federal

  4. Two Primary Categories of Aid • Merit-Based Aid • Need-Based Aid • Gift Aid • Self-Help Aid

  5. Free Application for Federal Student Aid (FAFSA) • 2010-2011 FAFSA will be available January 1, 2010 • Paper version will be available to students by calling 1.800.4FEDAID • PDF version of the FAFSA can be downloaded at www.federalstudentaid.ed.gov • Electronic version of the FAFSA (FAFSA on the web) www.fafsa.ed.gov • Student and parent should apply for a Personal Identification Number (PIN) at www.pin.ed.gov for use as an electronic signature for FAFSA on the web

  6. State Financial Aid Programs2009-10 Funding Levels

  7. Funding for Student Aid Source: NASSGAP 2007-08 West Virginia ranks 7th nationally with respect to grant aid per FTE as a result of significant investments in the PROMISE Scholarship Program.

  8. PROMISE Scholarship Program

  9. PROMISE Scholarship Program Changes & Updates 2010 High School Graduates • Senate Bill 373 adopted during the 2009 legislative session created an award floor of $4,750 • Stabilized program funding; thus, academic eligibility standards will not change for the 2010 graduating class • 22 ACT Composite with a minimum 20 in each subject area • 1020 SAT Combined Score with a minimum score of 490 in Critical Reading and 480 in Mathematics • Final test dates to establish eligibility will be extended to June 12 for the ACT and June 5 for the SAT

  10. PROMISE Scholarship Program Changes & Updates 2010 High School Graduates • 2010-2011 Free Application for Federal Student Aid (FAFSA) must be filed by March 1, 2010 • Application for State-Level Financial Aid must be completed on-line by March 1, 2010. The www.wvapply.com website will close beginning with the 2010-2011 PROMISE Scholarship application. Students will apply through the College Foundation of West Virginia website,www.cfwv.com.

  11. Higher Education Grant Program

  12. Highlights of Program Rule ChangesAdopted During the 2009 Legislative Session • Eliminates the Application for State Level Financial Aid. Provides that the filing of the FAFSA by an individual indicating West Virginia as their state of legal residence will be considered an application for the Higher Education Grant. • Eliminates the points formula (GPA x 12.5 + ACT composite or SAT equivalent = 45 or higher) for high school graduates within five years of enrollment and replaces it with requirements that a student meet institutional admission standards and have a cumulative high school GPA of 2.0 or higher.

  13. Highlights of Program Rule ChangesAdopted During the 2009 Legislative Session • Eliminates the March 1 priority date for awards. This will provide greater flexibility to adjust priority dates and deadlines and to make awards based on the amount of funds available and state policy priorities, while ensuring accountability through commission and council review. • Eliminates the provision that awards at non-for-profit private institutions and for-profit private institutions shall not exceed the prior year average award at comparable institutions. This will allow for flat awards across all types of institutions for students with the same amount of financial need.

  14. Higher Education Grant Award Schedule 2009-10 Award Year

  15. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  16. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  17. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  18. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  19. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  20. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  21. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  22. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  23. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  24. PROMISE Scholars & Higher Education Grant Awards School PROMISE HEG

  25. Overall PROMISE & Higher Ed Grant Totals PROMISE Scholars Higher Ed Grant GRAND TOTAL 3401 3402

  26. Higher Education Adult Part-Time Student (HEAPS) Grant

  27. Higher Education Adult Part-Time Student (HEAPS) Grant • Need-based grant • Decentralized administration • Two programs components • Traditional part-time enrollment • Workforce Development • FAFSA required for determination of traditional part-time enrollment, but application deadlines will vary among institutions • Maximum award cannot exceed part-time tuition and fee charges

  28. Additional Scholarships • Engineering, Science, and Technology Scholarship • Underwood-Smith Teacher Scholarship • Robert C. Byrd Honors Scholarship

  29. Engineering, Science and Technology Scholarship • Merit-based scholarship/forgivable loan • March 1 application deadline • 3.0 overall GPA • Enrolled or accepted for enrollment full-time in an engineering, science or technology program (4-yr, 2-yr or certificate) • Maximum annual award amount is $3,000

  30. Underwood-Smith Teacher Scholarship • Merit-based scholarship/forgivable loan • March 1 application deadline • Must be enrolled as a full-time student in a course leading to a certification as a teacher at the pre-K, elementary, middle or secondary level • Must have a 3.25 GPA after completing 2 years of course work (due to limited funding, high school applicants are not eligible) • Maximum annual award amount is $5,000

  31. Robert C. Byrd Honors Scholarship • Merit-based scholarship • Maximum annual award amount is $1,500 • Must be nominated by high school counselor or principal, limited applications • 2009-10 average GPA for new recipients was 3.87 and average ACT was a composite of 33

  32. Efforts to Breakdown Barriers to Postsecondary Education • School Counselor Resources • College Access Campaign and Educational Portal • College Goal Sunday Program • Program Rule Changes to Enhance Access to Need-Based Financial Aid Programs

  33. School Counselor Resources • Financial Aid Administrators available to present financial aid workshops • Printed and electronic information • Financial Aid Management System (FAMS) website • Statewide Education Portal

  34. The College Foundation of West Virginia(CFWV) • A partnership between the 21st Century Jobs Cabinet, the West Virginia Higher Education Policy Commission, the West Virginia Council for Community and Technical College Education and a host of individual college access entities; such as GEAR UP, who have broad experience in helping students prepare, apply and pay for college • The CFWV is modeled after broadly acclaimed college access efforts in North Carolina, Kentucky and Oklahoma

  35. Marketing & Outreach • Through the creation of a unified outreach and marketing campaign (Learn More. Earn More.) students and their families will be provided with a single source of information to help them prepare for and finance their college education • The centerpiece of the outreach and marketing campaign will be the creation of a web portal (www.cfwv.com), an integrated system designed to assist students in the college search, selection and application process

  36. Marketing & Outreach • Equally as important as the web portal (www.cfwv.com) is an outreach campaign (Learn More. Earn More.) aimed at stressing the importance and benefits of postsecondary training. While these resources will be available for all West Virginians, the outreach campaign (Learn More. Earn More.) will especially target at-risk student groups such as low income, first generation and other underserved populations

  37. Overview of the Web Portal • The interactive educational web portal consists of 5 modules: • Career Planning • High School Planning • College Planning • Financial Aid Planning • Portfolio

  38. College Goal Sunday Program • Implementation grant was awarded to the HEPC in August 2009. • An all volunteer effort to provide information about the availability of financial aid and assistance in filling out the paperwork (FAFSA) to apply for aid • 16 potential sites have been identified for the first program on February 21, 2010. The tentative sites are as follows: • Marshall Community and Technical College (Huntington) • Marshall University, Mid-Ohio Valley Center (Pt. Pleasant) • Potomac State College (Keyser) • Shepherd University (Shepherdstown) • Southern WV Community & Technical College (Logan Campus) • WV Northern Community College (Wheeling Campus)

  39. College Goal Sunday Program • High schools and other locations: • Braxton County High School (Flatwoods) • Capital High School (Charleston) • Lincoln County High School (Hamlin) • Monongalia County Technical Center (Morgantown) • Ripley High School (Jackson County) • Site to be determined: • Mercer, Raleigh, Harrison, and Greenbrier counties

  40. Contact Information Jack Toney Director, State Financial Aid Programs WV Higher Education Policy Commission 1018 Kanawha Boulevard, East Charleston, West Virginia 25301 toney@hepc.wvnet.edu 304.558.4417 or 1.888.825.5707

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