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FINANCIAL AID NIGHT North Tonawanda High School January 6, 2016

Attend the Financial Aid Night at North Tonawanda High School to learn about different types of financial aid, including grants, loans, and scholarships. Presenters will provide valuable information on completing the FAFSA and tips for obtaining student loans. Don't miss out on this opportunity to learn about financing your college education!

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FINANCIAL AID NIGHT North Tonawanda High School January 6, 2016

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  1. FINANCIAL AID NIGHT North Tonawanda High School January 6, 2016

  2. PRESENTERS • Pam Beehler Financial Aid Counselor Niagara University • Melissa E. Giles School Counselor North Tonawanda High School

  3. TYPES OF FINANCIAL AID • NEED-BASED AID – must complete FAFSA! • GRANTS • DEFERRED LOANS (subsidized vs unsubsidized) • WORK-STUDY JOBS ON CAMPUS • TAP (Tuition Assistance Program)- if attending a college in NY state • STUDENT LOANS • SCHOLARSHIPS

  4. NEED-BASED AID/FAFSA The first step to paying for college is to complete the Free Application for Federal Student Aid (FAFSA). All families are encouraged to complete this form! • Tonight’s presentation (Pam Beehler) • SUNY Financial Aid Assistance Day (see flier) • College Financial Aid Offices

  5. Sources and Types of Financial Aid

  6. FAFSA TIPS WHAT SHOULD WE BE DOING? (1) Obtain your FSA*ID numbers (student & parent) @www.fsaid.ed.gov (click ‘PIN’) & keep in a safe place untilneeded. *Federal Student Aid (2) Ascertain FAFSA deadlines from your colleges.. Call the financial aid office at your college(s) to find out their recommended FAFSA deadline! (3) Complete your FAFSA “estimate” by the above deadline. Use your 2014 tax information to do your estimate & sign your FAFSA electronically using your ID numbers. Colleges recommend that parents do an “estimate” by the end of January. (4) Finish your FAFSA after you do your 2015 taxes. Go back into your FAFSA + complete your “actual” by submitting your 2015 taxinformation.

  7. STUDENT LOANS Awareness is important! • Encourage students to ask questions and keep in communication with college Financial Aid Offices & to keep track of correspondence with the office; keep all loan documents for reference/taxes. • Encourage students to be aware of scams, e.g., “consulting fees.” • If it seems “too good to be true,” it probably is.

  8. Parent Loans for Undergraduate Students (PLUS) • For parents of dependent students • Borrow up to entire cost of college less fin. aid • No adverse credit (parent must pass credit • check) • Interest rate 6.84% • Time Payment Plans – families typically spread • the costs over the semester or year

  9. Scholarships – Where to look • At your college of interest • Free internet scholarship searches • www.fastweb.com • www.studentaid.ed.gov • www.ntschools.org • Local library resources • Local businesses and civic organizations (including professional associations) related to student’s field of interest • Parents’ employers/unions

  10. SCHOLARSHIPS The Common Scholarship • Available online on www.ntschools.org • Includes 40 LOCAL scholarships! • Only one application! • Seniors choose scholarships based upon eligibility criteria • Available online January 8, 2016 • February 10, 2016 deadline

  11. SCHOLARSHIPS (cont.) EXAMPLES OF ACTUAL SCHOLARSHIPS • Left-handed students • Duct Tape Prom Contest • Twins • Duck Calling Contest • Make it With Wool • Last name ‘Zolt’

  12. SCHOLARSHIP SCAMS Five common signs: • Application or processing fees • Guaranteed winnings • "Everybody is eligible" - Each scholarship is geared towards selective criteria! • Unclaimed aid myth: "Billions of dollars of scholarships go unclaimed every year.” • "We will apply on your behalf.” • Never give out your social security number or bank information. • 99% of scholarships and foundations do not charge a fee. If a fee is charged, it should be minimal and within the $5.00-$10.00 range.

  13. How Much Does College Cost? • Cost of Attendance (COA) Includes: • Tuition and fees • Room and board • Books and supplies • Transportation • Miscellaneous personal expenses

  14. How Much Does SUNY Cost? Associate Degree 2015-16 Bachelors Degree 2015-16 NYS Resident Living On-Campus NYS Resident Living On-Campus Tuition and fees: $4,820 7,980 Room and board: 10,180 12,150 Books and supplies: 1,320 1,340 Transportation: 1,280 1,050 Personal expenses: 1,160 1,500 Total Budget: $18,760 24,020 Source: SUNY Office of Student Financial Aid, System Administration

  15. How is Financial Aid Determined? • Estimated Family Contribution (EFC) is determined by: • Parents’ income and assets - primary home value • excluded • Student’s income and assets • Size of family • Age of parents • Number of children in college • COAminusEFC=Need

  16. SUNY Smart Track Financial Literacy Website • http://www.suny.edu/smarttrack

  17. All SUNY Campuses are linked to the SUNY Smart Track Financial Literacy Website

  18. NYS STEM* Scholarship • Must complete FAFSA + TAP applications • Students will get full tuition paid at SUNY if they graduate in the top 10% of their high school graduating class • Maintain a minimum GPA of 2.50 • Is not income dependent • Must be a matriculated student enrolled in select STEM* classes leading to an approved STEM* occupation • There is a 5-year service commitment • If commitment is not met this grant becomes a loan + student must repay full amount with accrued interest • August 15, 2016 deadline – go thru college Financial Aid Office • For more info: www.hesc.ny.gov *STEM – Science, Technology, Engineering, & Math

  19. Thank you. and now. . . MS. PAM BEEHLER!

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