financial literacy for college planning: best practices for financial success!

When thinking about college…

Think

Seasonally

In the Fall

Register and take or… re-take the

or the

Register for the ACT HERE

Register for the SAT HERE

SAT

ACT

Schedule college

visits to make

sure you like the

school…

Or at least take a

look with a virtual tour

Create your

Student

Résumé

Outline it first,

then have an

advisor review it!

Tips for writing a great high school

resume

your favorite teachers, coaches or advisors for

student recommendations

Tips for the best ways to ask for a recommendation

Decide how you want to

apply to college

What is Early Decision?

What is Early Action?

What is Regular Decision?

Control your early

symptoms of senioritis

and keep working hard!

HERE are 7

reasons to avoid

senioritis!

In Winter

Finish up college visits

Start regular decision applications

HERE are some tips for planning the

perfect college visit

HERE are the dates you need to know

for college applications

How are your

social media

profiles looking?

If you think that admissions officers can’t find you, read

this article

Don’t be this guy

4 easy ways to clean up your social media profiles

1 - Choose appropriate pictures If your grandmother wouldn’t be happy with it, un-tag yourself

2 - Search Your Name on Google If any embarrassing/inappropriate tweets or public posts come up from your social profiles, you should probably delete them

3 - Check privacy settings You can easily privatize your social media by changing your personal settings

4 - Sticks, stones and words… In addition to sticks and stones, words can also hurt you – so be careful what you post, tweet, pin etc.

File the FAFSA on time!

“The early bird gets the worm”

File the FAFSA by:

Rule of thumb for maximum financial aid eligibility!

Financial aid is generally awarded on a first come first serve basis

The earlier you file the FAFSA, the

more likely you can qualify for maximum funding

Q: What if tax returns are not ready by FAFSA filing date? A: Estimate figures and file FAFSA before deadline; Update figures later once taxes are filed

FILE YOUR FAFSA!

January 1st: New FAFSA is available online

Grants: Awarded considering student financial need

Sources: Federal, state, institutional Most popular: Federal Pell, FSEOG, various state programs, school based programs

Know your sources of funding

Scholarships: Awarded based on merit

Sources: College of attendance, charities, social organizations

Most popular: Academics, community service, leadership, personal attributes, athletics

Work Study: Earn the hourly federal minimum wage, up to 20 hrs per week

Federal Loans: Widely available for students

Sources: Federal Direct Loans

Most popular: Subsidized, unsubsidized, parent plus

Reminder Always maximize grants, scholarships and other financial aid before applying for student loans!

Apply for

Scholarship Search Basics

1 - Use online resources: Filter for national options 2 - Check local: Community groups can help 3 - Avoid scams: Don’t pay for scholarship applications

Review Your Student Aid Report, Admissions Decisions and Financial Aid

Awards

Also remember to…

Fill Out Your CSS Profile For Elite Schools

Which schools qualify as

elite? Here’s

the list

Tips for

reviewing your

financial aid

Spring

Understand your

Financial Aid Package

•What are Federal Loans? •What is Federal Work Study? •What are Federal Grants? •What are State Grants? •What are Institutional Grants?

Sample Financial Aid Package FAQs

Click to check out NASFAA’s Cash for

College brochure for more (.PDF on

NASFAA site)

KEY FINANCIAL AID TERMS

YOU SHOULD KNOW!

Financial Need = COA – EFC The difference between COA and EFC is the student’s financial need, and determines eligibility for need based financial aid resources. Student with greater financial need will qualify for more financial aid. EFC = Expected Family Contribution The amount of financial support your family is expected to provide towards college costs (determined mostly by family income and assets as calculated on the FAFSA). COA: Cost of Attendance Total costs associated with attending college including tuition, room & board, books, transportation, personal expenses.

Calculate your Financial Need!

Review your Financial Aid Offer

So what’s the deal with professional

judgment?

Do I qualify?

How to receive merit-based scholarships?

How to review a financial aid offer?

What is professional judgment?

Know your Degree vs Debt potential

1. Engineering 2. Computer Science 3. Physics 4. Applied Math 5. Economics 6. Info Systems 7. Finance 8. Government & Political Science 9. Construction Management 10. Biochemistry

Top-Paid Degrees

What is Degree vs. Debt?

Tips for career to debt repayment?

“Socially, academically & financially balanced…

…your decision should be.”

Make an Informed Decision about your School Choice that

incorporates social and financial reasoning Now

What?

Consider Your Debt Versus Your Potential Earnings in Your Career

Submit your deposit to the school of your choice

Congratulations! You’ve been

It’s Summer

To complete the Direct Loan

Master Promissory Note and Entrance

interview online

Federal Direct

Loan Website

Ask your college billing office

• Is your account up to date?

• Financial & medical clearance • How do you set up a monthly bill-payment plan? • Do you need college health insurance?

• In most cases if you’re covered by your parents, you may waive charges

• Are you cleared to move into your dorm?

Prepare your college

What does a college budget look like?

How can I calculate MY college budget?