paying for college: from zero to hero

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ACT CONFERENCE PAYING FOR COLLEGE: FROM ZERO TO HERO Presented By Stephen Rogers

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Page 1: Paying for College: From Zero to Hero

ACT CONFERENCE PAYING FOR COLLEGE: FROM ZERO TO HERO

Presented By

Stephen Rogers

Page 2: Paying for College: From Zero to Hero

Who Am I?

Steve Rogers manages outreach for the Utah Higher Education Assistance Authority (UHEAA)

Page 3: Paying for College: From Zero to Hero

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

Page 4: Paying for College: From Zero to Hero
Page 5: Paying for College: From Zero to Hero

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.

Page 6: Paying for College: From Zero to Hero

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

Page 7: Paying for College: From Zero to Hero

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

Page 8: Paying for College: From Zero to Hero

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

Page 9: Paying for College: From Zero to Hero

What to Bring on CGU Night?

Don’t be afraid to bring your friends, a league of experts is there to

help

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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.

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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)

Page 12: Paying for College: From Zero to Hero

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.

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Financial Aid 411

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Types of Aid

Scholarships

Work-study Grants

Student Loans

Savings

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Institutional Merit Leadership Diversity

Academic Department Private

Community Service Heritage Interest/hobby based Employer

Scholarships

Page 16: Paying for College: From Zero to Hero

Deadline

Application

Essay

Letters of recommendation

Save outstanding writing assignments!

Preparing for Scholarships

Page 17: Paying for College: From Zero to Hero

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

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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

Page 19: Paying for College: From Zero to Hero

Institutional Ambassador Programs Resident Advisor AmeriCorps Fastweb.com UtahFutures.org College.ed.gov

Other Scholarship Resources

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April 21, 2010

Page 21: Paying for College: From Zero to Hero

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

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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

Page 23: Paying for College: From Zero to Hero

New Century — Application Timeline

March 2011 23

Application Timeline for 2011 High School Graduates

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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.

Page 25: Paying for College: From Zero to Hero

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.

Page 26: Paying for College: From Zero to Hero

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.

Page 27: Paying for College: From Zero to Hero

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

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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)

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In the Face of Overwhelming Odds…

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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

Page 32: Paying for College: From Zero to Hero

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).

Page 33: Paying for College: From Zero to Hero

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

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Technology

Page 35: Paying for College: From Zero to Hero

Technology

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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.

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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

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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)

Page 39: Paying for College: From Zero to Hero

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

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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.

Page 41: Paying for College: From Zero to Hero

Pell

FSEOG

LEAP

TEACH

UCOPE

Grants (2011-2012 School Year)

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Possible reduction in maximum award amount $5,550 - $845 = $4705

Possible changes to year-round grant

Pell Uncertainty

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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

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Student Loans

Federal Loan Programs Stafford Loan PLUS Loan Perkins

Private/Alternative Loans

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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)

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Savings

Summer jobs Bank savings accounts CD savings accounts 529 Savings Plans

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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

Page 48: Paying for College: From Zero to Hero

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

Page 49: Paying for College: From Zero to Hero

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

Page 50: Paying for College: From Zero to Hero

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”

Page 51: Paying for College: From Zero to Hero

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

Page 52: Paying for College: From Zero to Hero

Contact the school’s financial aid office!

What if your situation has changed from last year?

Page 53: Paying for College: From Zero to Hero

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

Page 54: Paying for College: From Zero to Hero

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)

Page 55: Paying for College: From Zero to Hero

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?

Page 56: Paying for College: From Zero to Hero

Contact the school’s financial aid office!

What should you do if you have any questions or problems?

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Questions

Page 58: Paying for College: From Zero to Hero

Find more information at

www.HigherEdUtah.orgwww.facebook.com/uheaawww.youtube.com/uheaawww.twitter.com/uheaa

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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