Durham School of the Arts Financial Aid Presentation

1. Durham School of the Arts Financial Aid Presentation • Financial Aid 101 • …an introduction to financial aid • Please take the TWO handouts • near either entrance to the • Media Center January 2013

2. Financing Your Future • What does college cost? • How do I apply for financial aid? • What types of aid are available? • Where can I get more information? January 2013

3. What does college cost?(annual tuition and fees, not including housing and living costs) • Private Colleges: $22,536 • Private Career Colleges: $14,254 • University of North Carolina: $7,008 • State Universities: $4,467 • Community & Technical Colleges: $1,688 • ECPI Criminal Justice Associates Degree • 2 year program $50,000 plus fees January 2013

4. Cost of Attendance (COA) The cost of attending an institution includes more than just tuition and fees. Also included are: Room and Board Books and Supplies Transportation Personal Expenses January 2013

5. What does COA look like for public and private schools in North Carolina? • Taking into account tuition & fees, room, board, books & supplies, travel, health insurance, loan fees, personal expences: • UNC Chapel Hill $22,340 • Duke University $59,343 • UNC Greensboro $18,000 approx. • Campbell Univ. $20,000 approx. • Appalachian State $19,000 approx. • NC State $20,644 • NC A&T $17,578 January 2013

6. How will I pay for it? • Family support • Savings • Work • Grants • Scholarships • Loans January 2013

7. What is financial aid? • Merit-based aid - academics - talent - athletic - others • Grants – need based • Loans – student & parents • Employment Opportunities • On-campus & off • Outside Scholarships January 2013

8. Where does it come from? • Federal Government • State Government • Colleges and Universities • Private and public sources January 2013

9. Applying for Federal Financial Aid • Free Application for Federal Student Aid (FAFSA) • Required for all types of federal aid • Download the FAFSA on the Web Worksheet via http://www.fafsa.ed.gov to prepare you form • 99% of forms are filed online! Your Income Tax returns can automatically populate the application • Sign the form with a Personal Identification Number (PIN) • Paper form can be obtained by calling 1-800-433-3243 • Complete FAFSA at www.fafsa.gov after January 1st, preceding the academic year • Results available online in 48 hours and to the institutions you list on the FAFSA January 2013

10. Getting a PIN • Student and parent may sign the form with a Personal Identification Number (PIN). • PIN enables application to be processed faster • PIN is valid for years • Parent’s PIN may be used for multiple children • Each student must have own PIN. January 2013

11. PIN Registrationwww.PIN.ed.gov January 2013

12. FAFSA on the Webwww.fafsa.ed.gov January 2013

13. Be careful… Put your name and SSN on FAFSA exactly how it appears on your social security card Refer to completed federal income tax return and consult instructions for proper line references If entry is zero or none, enter 0--don’t leave blank Enter college/university code(s) Student and one parent must both sign dependent student’s FAFSA December 2011 January 2013

14. FAFSADay 2013 Saturday, February 23, 2013 Any time between 9 a.m. and noon Get FREE help completing your FAFSA online from college financial aid officers Check www.CFNC.org/fafsaday or call toll-free, 1-866-866-CFNC to: Find closest location and Register for FAFSA Day January 2013

15. Where can you find truly free information about financial aid? Contact College Foundation of North Carolina at CFNC.org or toll free at 866-866-CFNC -- Service of the State of North Carolina Talk to the financial aid administrator at the college of choice Ask your high school counselor Apply for federal financial aid at FAFSA.ed.gov (notice it is not FAFSA.com!) January 2013

16. What makes a student “independent”? • At least 24 years old by December 31st of the award year covered by the FAFSA • Graduate or professional student • Married • Has legal dependents other than a spouse who receive more than one half of their support from the student • Is an orphan, in foster care, or ward of the court • On active duty or veteran of the U.S. Armed Forces • Emancipated minor or in legal guardianship as determined by a court • Has been determined to be homeless by an authorized official January 2013

17. Expected Family Contribution (EFC) The EFC is calculated from the information you provide on the FAFSA according to a formula established by law. You can get an estimate of your EFC using the FAFSA 4-caster tool at www.fafsa.ed.gov. January 2013

18. EFC Components Dependent Student • Parents’ income and assets • Household size • Number of dependents attending college • Student’s income and assets Independent Student • Student’s (and spouse’s) income and assets • Household size • Number in household attending college January 2013

19. How does a school determine my financial aid award? Cost of Attendance (COA) - Expected Family Contribution (EFC) = Eligibility for need-based financial aid January 2013

20. Grants • Federal Pell Grant: need-based; annual award range for a full-time student is $976 - $5,350 • Federal SEOG Grant: limited funding; priority given to students with exceptional need; annual award range is $100 - $4,000 • Academic Competitiveness Grant (ACG): completed rigorous secondary curriculum; GPA requirement & demonstrated aptitude for leadership & service freshman/sophomore award range is $750 - $1,300 January 2013

21. …more on grants • North Carolina State Grant: NC resident enrolled at eligible NC school; for students from low and moderate income families; annual award range is $100 - $9,444 • CFNC - Paying For College - Scholarship and Grant Programs • Institutional Grant: college or university funds awarded to students with financial need January 2013

22. Types of Loans January 2013

23. Minimize your debt For most students borrowing is part of making college affordable. Here are some strategies for responsible borrowing: • Graduate on time • Create a budget and stick to it • Avoid credit card debt • Look for ways to limit spending (Coffee shop vs. Coffee maker; Bus/Bike vs. Car) • Get help if you get into debt trouble January 2013

24. Work-Study • Part-time student employment • Earnings paid to student • Work-Study earnings not included when determining EFC on next year’s FAFSA January 2013

25. Scholarship Searching • High school counselor’s office or career center • Community, church, civic, and business organizations • Employers • Colleges and Universities • On the Web January 2013

26. Avoid Scholarship Scams • Legitimate scholarships never charge fees and the application information is available to everyone. The ONLY exception is the CSS Profile. • Don’t fall for guarantees or claims that someone has information you can’t get anywhere else January 2013

27. Where can I get more information? • U.S. Department of Education: www.ed.govandwww.college.gov • Internet System for Education & Employment Knowledge: www.iseek.org • The Student Guide • Published by US Department of Education • www.ed/gov/prog_info/SFA/StudentGuide • FinAid! - The Financial Aid Information Page: www.finaid.org • Student Financial Aid for North Carolinians • www.cfnc.org/fabook January 2013

28. What should I do and when? • Apply for scholarships now and throughout college • Apply for admission to your school(s) of choice • Apply for your PIN number • Complete the FAFSA each year and be aware of school financial aid deadlines January 2013

29. What should I do and when? Review your Student Aid Report (SAR) for accuracy Respond promptly if your school requests more information Respond to financial aid award notice Complete loan promissory notes and work-study forms January 2013

30. Financing Your Future…an investment in you ! January 2013