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BLUEFIELD COLLEGE Financial Aid Webinar

BLUEFIELD COLLEGE Financial Aid Webinar. Presenters: Carly J. Kestner, Director of Financial Aid and Mark L. Hipes, Director of Traditional Admissions. OVERVIEW. What is financial aid? What aid is available? Where does it come from? How is financial aid calculated? How do I apply?.

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BLUEFIELD COLLEGE Financial Aid Webinar

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  1. BLUEFIELD COLLEGEFinancial Aid Webinar Presenters: Carly J. Kestner, Director of Financial Aid and Mark L. Hipes, Director of Traditional Admissions

  2. OVERVIEW • What is financial aid? • What aid is available? • Where does it come from? • How is financial aid calculated? • How do I apply?

  3. WHAT IS FINANCIAL AID? • Scholarships • Grants • Loans • Work-Study

  4. WHAT AID IS AVAILABLE? • Gift aid (free money) : Grants and scholarships (need-based or merit-based) • Self-help aid: Loans and employment (need-based or non-need-based)

  5. WHERE DOES IT COME FROM? • Federal Government • Pell Grant – Max for 2013-14 is $5,550 • SEOG – Up to $800 at Bluefield College • Stafford Loans - $5,500 for most Freshmen • Work-Study – Up to $1,000 -$1,200 at Bluefield College • State Government • TAG Grant for full-time Virginia Residents- Award for 2012-13 is $2,800, potential increase $3,100 • 2 Year Transfer Grant for qualifying VA residents -$1,000

  6. How is financial aid calculated? • PELL- the EFC range to receive Federal Pell Grant funding is 0-4995. Awards range from $577 to $5,550. Student who qualify are limited to 6 years of full-time enrollment funding. • SEOG- limited funding awarded to students with “high need” as calculated by federal government. • FWS (Workstudy)- limited funding awarded to students with need. Offered first to students who meet our priority deadline of March 15. • Interest-Subsidized Direct Loan- students with need after all other aid has been applied, up to $3,500 can be awarded to a freshman. • Unsubsidized Direct Loan- student does not have to demonstrate need to qualify. Up to $2,000 for freshmen qualifying for the full subsidized loan.

  7. WHERE DOES IT COME FROM? • Bluefield College (Freshman) Merit Scholarships are determined by an equal evaluation of test scores (SAT and ACT) and GPA, and determined at admittance. Annual award of: • LANSDELL SCHOLARSHIP – $8,000 • HARMAN SCHOLARSHIP– $6,000 • TRUSTEES’ SCHOLARSHIP- $4,000 • DEANS’ SCHOLARSHIP- $2,000 • ALUMNI SCHOLARSHIP- $1,000

  8. WHERE DOES IT COME FROM? • PRESIDENTIAL & SPIRE SCHOLARSHIPS – Students will be asked to come to campus for an interview and to compete by writing an essay. Minimum GPA of 3.75 and 1100 SAT or 25 ACT to participate in the competition. The Presidential is a full tuition scholarship. 2 will be awarded.The Spire is an additional $2,000 scholarship in addition to the merit awards.

  9. WHERE DOES IT COME FROM? • Bluefield College (Transfer) Merit Scholarships are determined by the transfer GPA. Annual award of: • LANSDELL SCHOLARSHIP – (3.25 GPA and above)$5,000 • HARMAN SCHOLARSHIP– (2.75-3.24 GPA) $3,000 • TRUSTEES’ SCHOLARSHIP- (2.25-2.74 GPA) $2,000

  10. WHERE DOES IT COME FROM? • Bluefield College Resources (All New Students) • Bluefield College Access Grant –students not receiving athletic talent money and who demonstrate financial need qualify. Amounts vary based on academic ranking and need. • Athletic Scholarships – NAIA, Division I • Fine Arts Scholarships

  11. WHERE DOES IT COME FROM? • Other Sources of Assistance • Church • Place of Employment • Civic Organizations • Local Banks • Veterans Administration- Montgomery G.I. Bill, Post 9-11, Yellow Ribbon • Virginia Baptist Foundation • Baptist General Association of Virginia • Rehabilitative Services • SCHEV www.schev.edu

  12. Private Scholarship Search FREE Internet scholarship search engines • FinAid on the Web: www.finaid.org • The College Board: www.collegeboard.com • FastWeb: www.fastweb.com • GoCollege: (The Collegiate Websource) www.gocollege.com

  13. HOW DO I APPLY FOR AID? • Get a PIN # (to electronically sign your federal application) at www.pin.ed.gov • Complete the FAFSA online at www.fafsa.govApplications for 2013-14 can be completed as early as January 1, 2013 Our School Code is 003703 • Virginia residents complete the 2013-14 Virginia Tuition Assistance Grant (VTAG) applicationForm available on our website at www.bluefield.edu/forms

  14. Documents needed to complete the FAFSA • Social Security Card & Driver’s License • 2012 Federal Tax Return information, which can be accessed at the time you file the FAFSA by selecting “IRS data retrieval” • Allow 2-3 weeks for a tax return submitted electronically • Allow 4-6 weeks if you filed a paper tax return It is best to file your tax return early, and prior to submitting the FAFSA! But do not wait to file if this causes you to miss our March 15 priority FAFSA filing date.

  15. Documents needed to complete the FAFSA • Statements or Summary of Assets as of the date you file the FAFSA • Untaxed Income Sources- Worker’s Compensation, Settlements, Child Support, Deferred Pension Plans

  16. Frequent FAFSA Errors • Parent and student Social Security Numbers • Divorced/remarried parental information • Income earned by parents/stepparents • U.S. income taxes paid • Household size • Number of household members in college • Real estate and investment net worth • Untaxed income

  17. Independent Status Definition Criteria to qualify as Independent include: • At least 24 years old by December 31 of award year covered by the FAFSA • Graduate or professional student • Married • Has children or dependents (other than a spouse) for whom the student provides more than half of support • Orphan or ward/dependent of the court • Veteran of U.S. Armed Forces • Determined to be “independent” byfinancial aid administrator based onunusual circumstances

  18. MEET THE DEADLINES • Our priority filing date for the FAFSA on the Web is March 15, 2013. • Our priority deadline for submitting all remaining financial aid documents and forms is June 1, 2013. • The state on-time cutoff to file the Virginia TAG application is July 31, 2013.

  19. IMPORTANT REMINDERS • Read all materials and instructions carefully. Most correspondence will come via to you email. Contact us if there is anything you don’t understand. • Keep a copy of all of the forms that you complete, including the FAFSA on the Web, the VTAG application, and any other scholarships for which you apply. • Get your student involved in the process. • Utilize MyBC.

  20. IMPORTANT REMINDERS • Don’t get caught up in scams • Meet the deadlines • Information Release Form • Find all of BC’s forms and quicklinks at www.bluefield.edu/forms

  21. IMPORTANT REMINDERS • Call or email the Financial Aid Office if you have questions! 1-800-872-0175

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