paying for college: from zero to hero
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ACT CONFERENCE PAYING FOR COLLEGE: FROM ZERO TO HERO
Presented By
Stephen Rogers
Who Am I?
Steve Rogers manages outreach for the Utah Higher Education Assistance Authority (UHEAA)
People with a bachelor’s degree account for less than 12% of unemployment claims filed. Utah Department of Workforce Services Profiling Job Loss Through Initial Unemployment Claims July/August 2009
UHEAA’s Mission
… to inform, educate, guide, and assist all students and parents with making informed decisions about preparing, participating, completing, and paying for Higher Education in Utah, with a priority and emphasis in serving low-income, first generational, and ethnic minority students.
What is College Goal Utah? Adapted from NASFAA’s College Goal Sunday 1989, Indiana Student Financial Aid Association
Assist students with financial aid preparation and eligibility
Funded by Lumina Foundation Private educational research firm, Indiana 3 year grant cycle
Target = Low Income & Non-Traditional Students
FAFSA Completion Staffed by financial aid professionals
Sunday after Super Bowl, 2:00 p.m. to 4:00 p.m. This day/time can be modified for Utah
35 states participated in 2008
CollegeGoalUtah Concept Identify Utah
High Schools Demonstrating – Location (need) Size: High Volume of
Seniors 25-50% FRLR, lower SES Under-represented, rural,
high minority Navajo Reservation
State wide effort
College Goal Utah Model
High School Coordination Principal, Counselors,
Financial Literacy Teachers Schedule Classroom
Time Financial Literacy Courses General Financial Aid
Overview & FAFSA Advertise College Goal Utah
Nights with Postcard
Computer Space & Ensuring Coverage (CGU Nights)
Train counselors & financial literacy teachers, 3:00 – 4:00 p.m.Assist students with FAFSA completion, 4:00 p.m. – 7:00 p.m.
CGU Dates Early February - April
What to Bring on CGU Night?
Don’t be afraid to bring your friends, a league of experts is there to
help
SOURCE: WICHE, Knocking on the College Door, 2008
We need to prepare and makeUse of the strengths these new Faces will bring to our state.
Are Students Applying Under Current Model?
Percentage of low-income students completing the FAFSA has increased In 1999-2000, 57% of low-
income undergraduates applied
In 2007-08, 68% of low-income undergraduates applied
But because the overall numbers of students has also grown, we have lost ground In 1999-2000, 3.3 million low-
income undergraduates did not apply
In 2007-08, 3.6 million low-income undergraduates did not apply
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1995-1996 1999-2000 2003-2004 2007-2008
Source: OPE Analysis of National Postsecondary Student Aid Study (NPSAS 2008, 2004, 1999, and 1995)
College Goal Utah’s Goals & Objectives
1) Compliance with Federal Financial Aid Regulations
2) Increase early awareness & preparation of financial aid programs
3) Implementation of college and financial aid evenings, including regional FAFSA workshops.
4) Development of Utah high school and college partnerships.
5) Promote Utah Futures & FAFSA Completion.
6) Provide ongoing professional development for middle and high school counselors
7) Build & maintain business and education partnerships working towards increasing the college going rate.
Financial Aid 411
Types of Aid
Scholarships
Work-study Grants
Student Loans
Savings
Institutional Merit Leadership Diversity
Academic Department Private
Community Service Heritage Interest/hobby based Employer
Scholarships
Deadline
Application
Essay
Letters of recommendation
Save outstanding writing assignments!
Preparing for Scholarships
Follow the directions Tailor your essay to the scholarship Be yourself, and be memorable Write about something you care about Give examples Be honest Spelling & grammar check (have two
readers)
Scholarship Essays
ACT efforts Get to know your recruiter Get involved Search beyond institutions Deadlines! Convince the committee that
you’re the perfect fit Show your plan for success Demonstrate your financial
backup plan
Eight Tips from the Experts
Institutional Ambassador Programs Resident Advisor AmeriCorps Fastweb.com UtahFutures.org College.ed.gov
Other Scholarship Resources
April 21, 2010
New Century Scholarship- Overview
March 2011 21
Purpose This scholarship encourages
students to accelerate their education by earning an Associate’s degree while in high school
Background Created in 1999 Initiated by former Governor
Leavitt In the 12th year award cycle
New Century — Program Requirements
March 2011 22
Application Deadline has Passed 2011 Applicants must:
Earn Associate’s degree by the date of high school graduation Earn a minimum 3.0 college GPA
Achieve a minimum high school GPA of a 3.5 Home School Student
Must earn an ACT Score of 26 or higher, score submitted by June 15
Verify they have no criminal record Meet Citizenship requirement
New Century — Application Timeline
March 2011 23
Application Timeline for 2011 High School Graduates
Regents’ Scholarship - Overview
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Established in 2008 Based on nationally-recognized foundational
core designed to help students prepare for college academically and financially
Fact: Students can qualify for 1, 2, or 3 of the awards. For example a student can qualify for the Base award only, Base and UESP, Base and Exemplary, or Base, Exemplary and UESP.
Regents’ — Application Timeline
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A complete application file consists of: 1) The application itself which is submitted online (2011
Deadline Passed)2) Supporting documents which must provide evidence of
what the student reported on the online application is true and accurate--these documents are mailed
Note: All deadlines are postmarked deadlines unless otherwise stated.
Scholarship Funding
March 2011 26
Award Levels for 2011-2012 College Academic year
The Regents’ Scholarship Base award will be a $1,000 one-time payment;
The New Century Scholarship award and Regents’ Scholarship Exemplary Academic Achievement award will be a flat dollar amount of $1250 per semester and is subject to the student renewing it each semester and the flat rate will be applied to all scholarship participants; and
The Regents’ Scholarship Utah Educational Savings Plan award is subject to contributions to your UESP trust account and is a one-time payment.
The Award amounts are determined on an annual basis and are subject to legislative funding and number of qualified participants. Therefore, award amounts may be reduced, may vary from year to year, and are dependent on when the recipient is enrolled in college.
Funding levels beyond Spring of 2012 are unknown and the award amounts will be determined in April of each year. However, the maximum New Century award and the Regents’ Scholarship
Exemplary Academic Achievement award amount that a student may receive is $1250 per semester.
Things to Consider…
March 2011 27
Student should look to ALL financial aid opportunities
If possible diversify, rather than relying on one Other Financial Aid Options
Saving for College through the Utah Educational Savings Plan program
Work while attending school Private Scholarships/grants
--visit UtahFutures.org Federal Financial Aid
Loans, Grants and Work Study
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To access the scholarship information1. Higheredutah.org2. Click on “Scholarships”3. Click on the specific program that you want to
access
Where to Find Scholarships Information
Scholarship Contact Information
March 2011 29
New Century [email protected] 801-321-7221
Regents’ Scholarship [email protected] 801-321-7294 (students and parents) 801-321-7159 (school personnel)
In the Face of Overwhelming Odds…
Process Improvements
Use of newer, state of the art Web technology – Web 2.0
Populate with data directly from the IRS
Increased use of ‘skip-logic’
Provide applicant with types and amounts of aid likely to receive
Working with states and schools
Technology Status indicators will
guide applicants through web modules (e.g., student demographics, basic eligibility, dependency status).
Student and parent sections of the application will be more clearly identified.
Dynamic question labels, help text and instructions based on applicant profile (e.g., marital status, responses to tax filing status, type of tax return filed).
Technology 2010-11 design
facilitated by technology upgrade
Updated navigation reduces the number of pages and length of the application
Display of help text and instructions will be enhanced by: use of field
instructions flyover text modal boxes
Technology
Technology
IRS Data Share Populate with IRS Data
No taxpayer consent needed because data is not released to a third party.
While in FAFSA on the Web, applicant (tax filer) submits a real-time request to IRS.
IRS sends real-time results to applicant (taxpayer) in new window.
Applicant (tax filer) transfers data to FAFSA on the Web.
Students will receive more detailed information on their FAFSA on the web confirmation page and Student Aid Report (SAR) • An estimate of the Pell Grant award
amount• An indication of student loan eligibility• Links to College Navigator for detailed
information about the institutions selected: Programs offered, Tuition and fees, Graduation rates, etc.
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Results Reporting
Notable News
Easy to remember web address: www.fafsa.gov
(never access fafsa.com)
PIN web address is still: www.pin.ed.gov
(real time PIN for applicants)
WHAT IS NEW FOR 2011 FAFSA APPLICANTS – RECAP
New, streamlined application facilitated by technology upgrade
Reduced screens for applicants to fill out 22 questions are eliminated (improved
skip logic) 17 web screens are eliminated Access to information about schools and
states where they apply
RECAP – Continued…
Improved Student Aid Report (SAR)will contain:
Will receive more detailed information on SAR Estimate Pell grant Indicate loan eligibility Links to colleges to see:
Programs offered Tuition and fees Graduation rates, etc.
Pell
FSEOG
LEAP
TEACH
UCOPE
Grants (2011-2012 School Year)
Possible reduction in maximum award amount $5,550 - $845 = $4705
Possible changes to year-round grant
Pell Uncertainty
Work-Study
Work on or off of campus
Flexible work schedule
What you earn won’t count against you for next year’s financial aid
Have to apply Competitive
Student Loans
Federal Loan Programs Stafford Loan PLUS Loan Perkins
Private/Alternative Loans
Other Federal Aid
Robert C. Byrd Honors Scholarship Program Corporation for National and Community
Service U.S. Department of Veterans Affairs Reserve Officers Training Corps (ROTC) Bureau of Indian Affairs (BIA) Grants Vocational rehabilitation benefits U.S. Department of Health and Human
Services (HHS)
Savings
Summer jobs Bank savings accounts CD savings accounts 529 Savings Plans
Utah’s official and only 529 college savings plan
A 529 plan is a tax-advantaged program to save for higher education expenses.
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What Is UESP?
Administered by the Utah State Board of Regents and the Utah Higher Education Assistance Authority
Direct-sold programA nonprofit agency
Use of the Money
• Funds can cover tuition, fees, room and board, books, supplies, and required equipment
• Use at any educational institution (including college, technical school, or graduate school in the United States or abroad) that participates in federal financial aid programs for students, not just in Utah (for a list of qualified schools, see fafsa.ed.gov)
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Qualified Higher Education Expenses
Tax Benefits
• Earnings exempt from federal and Utah state income tax if used for qualified higher education expenses
• Utah state income tax credit per beneficiary can be claimed up to the following amounts:
2011
Filing MethodTax Credit
Percentage
MaximumContribution for Tax
CreditUtah Tax
CreditUtah Tax Deduction
Single 5% $1,740 $87
Joint 5% $3,480 $174
Trusts 5% $1,740 $87
Corp. $1,740
After the FAFSA
Ask about other forms Contact the schools
you are interested in attending and find out what they require for a “complete application”
What if your situation has changed from last year?
If you have experienced… Parent lost a job Medical expenses
that weren’t covered by insurance
Parents divorced You cannot get your
parents’ info Any other unusual
changes
Contact the school’s financial aid office!
What if your situation has changed from last year?
Check with your school about deadlines
See if there is a deadline to file your information
Make sure you receive your financial aid before classes start
Meeting this deadline could also get you access to additional types of financial aid
Remember… You’ll need to file a new FAFSA every year. Make sure to get it in by the deadline
How much aid do you need?
School—Cost of Attendance (COA)
Tuition and Fees Room and Board Transportation Books and Supplies Miscellaneous Living Expenses
FAFSA—Expected Family Contribution (EFC)
The school will send an award letter Many times this is online, or through email
The award letter will explain what types of aid are available
Choose what aid you accept and let your school know
How will you know?
Contact the school’s financial aid office!
What should you do if you have any questions or problems?
Questions
Find more information at
www.HigherEdUtah.orgwww.facebook.com/uheaawww.youtube.com/uheaawww.twitter.com/uheaa
Michelle [email protected](801) 321-7145
Sumiko [email protected]
(801) 366-8477Brian [email protected](801) 321-7245
Steve [email protected]
(801) 366-8460
UHEAA Outreach