WELCOME TO LIBERTY HIGH SCHOOL’S FUNDING A COLLEGE EDUCATION INFORMATION SESSION

1. WELCOME TOLIBERTY HIGH SCHOOL’SFUNDING A COLLEGE EDUCATIONINFORMATION SESSION ROBIN L. STIMAC STUDENT FINANCIAL AID MANAGER METROPOLITAN COMMUNITY COLLEGE MAPLE WOODS 816-604-3068

2. Funding A College Education • An investment in post-secondary education is the best bet an individual can make to secure a place in the workforce and actualize one’s earnings potential • Some form of financial aid is available to assistall students pay for post-secondary education • However, the bottom line is that students and parents (if applicable) are still responsible for some of the costs

3. What is the definition of Financial Aid? Financial Aid is all money that is provided to students and families from all resources to help pay for post-secondary educational expenses

4. Sourcesof Financial Aid • Federal Government (U.S. Department of Education, Veteran’s Benefits, Tax Benefits for Higher Education, etc.) • State of Missouri (Missouri Department of Higher Education) • Institutional Awards (From colleges, universities and other post-secondary institutions) • Outside Scholarships & Private Funds (Everything else including non-profit or private organizations)

5. Types of Financial Aid

6. Ways to Fund A College Education Start By Planning Early: It is never too early to begin thinking about saving for college. Although you do not need to decide exactly what school you (or your child) will attend, you should begin to consider some general possibilities. Understand that private universities generally will cost more than public universities. Public schools also grant tuition reductions for in-state residents. As your child grows and begins to develop interests, you can certainly redirect your focus, but it will help to set some targets for saving as early as possible.

7. Ways to Fund A College Education Pay for college by doing the right things in high school: • Apply for any and all scholarships available through your school and through outside and private organizations • Complete the Free Application for Federal Aid (FAFSA) during the 1st semester of your senior year • Get involved with school clubs and community based organization • Get the best ACT/SAT Score possible • Sign up for the A+ Program • Sign up in 9th Grade for KC Scholars College Savings Account/Match • Sign up in 11th Grade for KC Scholars Traditional Scholarships • Take Advanced Placement and Dual Credit Classes

8. Ways to Fund A College Education Pay for college with your (and your student’s) own resources: • 529 College Savings Plans • Contributions from Grandparents and Other Relatives • Coverdell Education Savings Accounts • Graduation Gift Money • KC Scholars College Savings Account/Match • Payment Plans • Student Savings from Part-Time Summer Jobs • Traditional College Savings Plans • Trust Funds • Tuition Assistance from Employers for Employees & Dependents • Veterans Benefits for Dependents

9. Ways to Fund A College Education Pay for college with borrowed money: • Student Loans • Parent Loans for Undergraduate Students (PLUS Loans) • Private (or Alternative) Loans • Retirement savings (Use these as a last resort. Someday you (parents) will eventually depend on these funds for your own support) Other ways to pay for college with borrowed money: • Borrow against assets • Credit cards • Home Equity • Life Insurance (NOTE: While these are options, be sure to evaluate the expense and risk of utilizing them before making a commitment)

10. Ways to Fund A College Education Pay for college with tax benefits (reductions) for higher education: • American Opportunity Credit • Lifetime Learning Credit • Student Loan Interest Deduction

11. Ways to Fund A College EducationPay for College with Merit-Based and/or Need-Based Aid: Merit-based aid is awarded to students who have certain skills, talents, or characteristics, regardless of their family’s financial situation Need-based aid eligibility is determined from the difference between a school’s cost of attendance and what a family can reasonably afford to pay (as determined by the FAFSA)

12. Your student will not complete and submit their FAFSA until the first semester of their Senior year… • Complete and submit your FAFSA to the U.S. Department of Education during the first semester of your student’s Senior year (prior to school deadlines) • Most aid is awarded on a “first-come, first served” basis • To ensure maximum consideration for federal, state and institutional aid, be sure to get information about: - Required application materials - Scholarship Deadlines - Financial Aid Priority Dates - Additional steps needed to complete various financial aid processes

13. FAFSA Free Application for Federal Student Aid A standard form that collects demographic and financial information about the student (and their family, if applicable)

14. Why fill out a FAFSA? • Financial “need” is relative to the cost of attendance at a particular school (You never know…) • The FAFSA is also the Missouri student financial aid application (February 1st priority deadline) • All A+ students are required to complete the FAFSA • Low interest rate student loan eligibility is based on the results of the FAFSA

15. FAFSA4caster If you’re not quite ready to apply for federal student aid, please check out FAFSA4caster at: http://fafsa.ed.gov Look for “Thinking About College?” in the lower right hand corner • FAFSA4caster gives you an early estimate of your federal aid eligibility, which will give you better insight when making college choices • Your estimated federal student aid eligibility will help you better understand the types and approximate amount of federal student aid for which you may qualify • Just remember that FAFSA4caster is not an application for aid; it’s just a planning tool. When you are ready to actually apply for financial aid, you must still file the FAFSA!

16. Financial “Need” Formula Cost of Attendance – Expected Family (or Financial) Contribution Gross Financial Need

17. Completing the FAFSA is just STEP ONE in applying for: Federal Pell Grants – For students that have a 0 to 5,328 EFC. Awards range from $606 to $5,920 for 2017-2018 (payment amount will be adjusted for less than full-time study). * NOTE – Federal Pell Grant eligibility is limited to 12 full-time semesters or the equivalent. Federal SEOG Grants – For Federal Pell Grant recipients that demonstrate the highest financial need. Awards range from $100 to $4,000 for 2017-2018 (the amount you receive is contingent upon the allocation your school received from the Department of Education)

18. You may also want to consider…. TEACH (Teacher Education Assistance for College and Higher Education) Grants – Provides grants of up to $4,000 per year for the 2017-2018 academic year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. Iraq and Afghanistan Grants – For students who are not Pell eligible due only to having less financial need than is required to receive Pell funds; whose parent or guardian died as a result of military service in Iraq or Afghanistan after the events of 9/11; and who, at the time of the parent’s or guardian’s death, were less than 24 years old or were enrolled at least part-time at an institution of higher education. Award amount for 2017-2018 can be up to $5,529.28;payment amount will be adjusted for less-than-full-time study. • NOTE – Iraq and Afghanistan Grant eligibility is limited to 12 full-time semesters or the equivalent (roughly six years).

19. FAFSA information is also used for: Federal Work-Study Federal Student & Parent Loans – * Federal DIRECT Subsidized/Unsubsidized Student Loans − 4.45% Interest Rate/1.066% Origination Fee for both * Federal DIRECT PLUS Loans − 7.00% Interest Rate/4.264% Origination Fee

20. As well as… Missouri Student Aid Programs – February 1st Priority Deadline Access Missouri Grants award amounts for 2017-2018 (EFC less than $12,000 - must be enrolled full time) * Public 2-Year $ 910 maximum/$ 300 minimum * Public 4-Year $2,000 maximum/$1,500 minimum * Private 4-Year $2,000 maximum/$1,500 minimum Missouri Bright Flight Scholarship award amounts for 2017-2018 (must be enrolled full-time) * $3,000 top 3%; 31 or better on the ACT (All awards are conditional on sufficient state appropriations)

21. A+ Scholarship Program Benefits • This program provides scholarship funds to eligible graduates of A+ designated high schools who attend a participating public community college or vocational technical school, or certain private two-year vocational/technical schools. • The A+ Scholarship Program PAYS FOR the unpaid balance of a student’s tuition and general fees after all available, non-loan federal financial assistance has been applied to their account (tuition amount is capped at $166.00 per credit hour for the 2017-2018 academic year). Federal Pell Grant funds will be applied to student account balances first; if any eligible costs remain, they will be billed to A+. NOTE: A student cannot receive A+ in addition to a Pell Grant if the Pell Grant pays for all A+ eligible tuition and fees.

22. FAFSA information may be used in determining your eligibility for: Need-based Institutional Grants and Scholarships Many outside & private scholarships

23. Don’t forget to look for Outside & Private Scholarships! • Check with your High School Guidance Counselors or the admissions and financial aid offices at the schools that you are interest in attending • Look for information on Liberty Community Scholarships • Explore the internet, books and any other scholarship resources • Check with any clubs or organizations of which you (student or parent) are a member • Check the least obvious sources!

24. Essential Internet Sites • www.dhe.mo.gov • www.edvisors.com • www.fastweb.com • www.finaid.org • www.gocollege.com • www.mappingyour future.org • www.missouriconnections.org • www.nexttier.com • www.scholarships.com • www.scholarshipsforstudents.com • www.studentaid.ed.gov • www.studentscholarshipsearch.com

25. ANY QUESTIONS? Please feel free to contact: Robin L. Stimac Student Financial Aid Manager MCC-Maple Woods Robin.Stimac@mcckc.edu Phone: 816.604.3068 Thank you for allowing me the opportunity to share this information with you this evening!