1 / 17

PAYING & SAVING FOR COLLEGE

PAYING & SAVING FOR COLLEGE. What is financial aid? How do I get financial aid? Types of Aid Scholarships Other Savings Options. AGENDA. HOW TO GET FINANCIAL AID?. THE FAFSA. Free Application for Federal Student Aid. File online: www.fafsa.ed.gov . FAFSA on the Web worksheet.

miron
Download Presentation

PAYING & SAVING FOR COLLEGE

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. PAYING & SAVING FOR COLLEGE

  2. What is financial aid? How do I get financial aid? Types of Aid Scholarships Other Savings Options AGENDA

  3. HOW TO GET FINANCIAL AID?

  4. THE FAFSA • Free Application for Federal Student Aid. • File online: • www.fafsa.ed.gov. • FAFSA on the Web worksheet. • FAFSA required. • Federal aid. • State aid • Most institutional aid.

  5. OTHER FINANCIAL AID FORMS • The PROFILE • Verification forms • Scholarship application forms • College-specific forms • HB 1079 Affidavit • http://www.leapwa.org/ep/ep_HB1079.asp

  6. GIFT AID • Federal grants. • State grants. • Institutional grants and scholarships. • Scholarships. • Need-based • Merit-based

  7. MeritSCHOLARSHIPS • Awarded with a range of focuses • Individual achievement • Volunteer work, overcoming adversity, academic achievement • Ability and talent • Athletic skill, musical aptitude, public speaking • Potential • Career aspirations, academic major • Requirements vary by scholarship

  8. FINDING SCHOLARSHIPS • High school counselor. • College you plan to attend. • Public library. • Free online resources: • TheWashBoard: www.thewashboard.org • College Board: www.collegeboard.com. • College Answer: www.collegeanswer.com.

  9. Know Yourself • Build your resume • Volunteer work • Hobbies • Skills • Interests • Family background

  10. SELF-HELP AID • Federal work-study. • Federal Perkins loan. • Federal Stafford loan. • Subsidized. • Unsubsidized. • Federal PLUS loan.

  11. FINANCING OPTIONS • Pre-paid Tuition Plans & State Sponsored Savings Accounts • Allows parents to lock in today’s tuition rates for their children’s future • www.collegesavings.org • Guaranteed Education Tuition- GET • www.get.wa.gov

  12. FINANCING OPTIONS • Upromise • Create a college savings service that harnesses the purchasing power of parents, extended family, family, and students to make it easier to pay for college. • Members direct their spending to Upromise partners—including more than 800 online stores, 8,000+ restaurants, thousands of grocery and drugstore items—and earn money for college.

  13. FINANCING OPTIONS • American Opportunity Tax Credit • During your first four years of at least half-time enrollment at an eligible institution, you or your parents can claim an American Opportunity Tax Credit of up to $2,500 toward federal income tax. • Lifetime Learning Credit • Available to you if you you’re taking one or more classes either in pursuit of a degree or certificate, or to improve your job skills.

  14. FINANCING OPTIONS • Coverdell Education Accounts • Taxpayers can contribute up to $2000 annually for each beneficiary. • IRA Withdrawal • People under the age of 59 ½ can withdraw money for higher education expenses from a regular IRA or Roth IRA without paying a penalty

  15. OTHER FINANCING OPTIONS • Working while in school. • Use existing savings. • Transferring to 4-year school. • Loan Forgiveness programs. • Tuition reimbursement. • AmeriCorps. • Military service.

  16. WHAT YOU CAN DO NOW! • Push Yourself Academically. • Explore Your Interests. • Become a Researcher. • Get Organized. • Save.

  17. CONTACT INFORMATION NELA Center for Student Success 206.461.5366 onlinecenter@nela.net

More Related