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Financing Your Future
Use some of these links for Financial
Aid help and information:
www.fasfa.ed.gov
www.collegeboard.com
www.usnews.com
Scholarship
Scams
Scholarships
It should be noted that the vast majority of
scholarships DO NOT cover all expenses and that 95% of scholarships
awarded result from careful research, planning, and application.
When applying for scholarships, the student must make much effort.
Less than 5% of all scholarships are awarded without effort.
Use these links to Seach for Scholarships:
www.collegenet.com
www.fastweb.com
www.petersons.com
www.collegeanswer.com
www.scholarshipexperts.com
www.xap.com
www.scholarshipamerica.org
www.outstandingstudentsofamerica.com
www.xap.com
www.scholarshipamerica.org
www.studentshelpingstudents.com
www.collegescholarships.com
Financial Aid
The first word in financial aid is APPLY. Apply
even if you think you are ineligible to receive it. To apply for
financial aid, you and your parents must fill out the FAFSA (Free
Application for Federal Student Aid). To complete the FAFSA, your
parents must have their income taxes in order. The FAFSA is available
from the Student Office in late December or early January. Complete
the FAFSA regardless of your parents’ financial status. Submit
the application as soon as possible after January 1st in the year
in which you will be a collage freshman.
After the federal processor receives you FAFSA, you will receive
a SAR (Student Aid Report). This report will be sent to you and
to the universities you indicated on the FAFSA. The SAR itemizes
the financial information you and your parents reported. Once a
school obtains your SAR, they can begin to put a financial package
together for you. Contact the College Financial Aid Office if you
have any "special circumstances" or any problems or concerns
over your application.
In addition, some schools also require the PROFILE. Each school
is different. Ask if they require both the FAFSA and PROFILE. Financial
aid is often on a first come-first serve basis so apply as soon
as possible.
Types of Federal Financial Aid
Grants
Like scholarships, grants are outright gifts
of money that do not have to be repaid. Unlike scholarships, they
are generally based on financial need. Two federally funded grants
are the Pell Grant and the Federal Supplement Educational Opportunity
Grant. These are financial awards to help undergraduates pay for
education after high school. Based upon your documented income on
the FAFSA, a university financial aid officer will determine your
grant eligibility. The amount of Pell Grant money you may receive
depends upon your need and on the cost of education at your school;
FSEOG funds received depend on need, the amount of other aid you
receive, and on the availability of funds at your college.
Loans
1. Federal Perkins Loans –
These loans are low interests that are funded by the federal government.
2. Federal Direct Loans: These
are loans made directly to students and parents through participating
colleges. Stafford and PLUS Loans are available under this program.
Stafford Loans – These are
low interest federally funded loans granted to eligible students
through banks, lending institutions, and participating Direct Loan
Schools. The interest is paid by the government for qualified enrolled
students. Students who do not qualify for interest subsides are
responsible for the interest while they are enrolled. Repayment
begins after a student leaves school.
PLUS Loans – These are low
interest loans for credit-approved parents who want to borrow to
help pay their children’s education. Repayment begins 60 days
after disbursement of funds.
Use these links to Seach for Loans:
www.educaid.com
www.nelliemae.com
www.salliemae.com
www.unipac.com
www.usafunds.org
Work-Study
Most work-study programs are funded by the
federal government coordinated through a school’s financial
aid office. Work-study offers part-time jobs for eligible students
(based on need) who are enrolled at least half-time in a university.
There are other jobs available on campus through
the university that are not federally funded. You must apply directly
through the financial aid office or to the person directly responsible
for hiring students.
Financial Aid Packages
Universities will offer financial aid packages
consisting of two or more of the above-mentioned forms of financial
aid. For example, they may offer a scholarship and a loan or a loan
and work-study. Many combinations are possible. You may take all
or part of your package. Remember, however, NOT ALL COLLEGES WILL
MEET ALL OF YOUR NEEDS. Your financial need is determined by the
following equation:
[Cost of Attendance - Expected Family Contribution
= Financial Need]
-Cost of Attendance (COA):
includes tuition, room and board, travel expenses, books and personal
supplies. The COA will vary from school to school.
-Expected Family Contribution (EFC):
is the amount your family is expected to contribute to your COA.
The information you and your family report on the FAFSA is used
to decide your EFC.
-Financial Need (FN):
is the difference between your COA and EFC. When your FN is determined,
the university will try to put a package together for you.
Examples:
| |
College A |
College B |
College C |
| COA |
$2,500 |
$5,000 |
$10,000 |
| EFC |
$2,500 |
$2,500 |
$2,500 |
| FN |
$0 |
$2,500 |
$7,500 |
Your EFC remains the same no matter which university
you choose. What changes is your Financial Need (FN). Again, not
all colleges will meet all of your need. In addition, the financial
aid officer at the university will determine your eligibility for
federally financial aid based on information reported on your FAFSA.
1. Universities
Universities and colleges give the largest numbers of scholarships.
Each school has its own requirements for academic scholarships.
Typically, the two primary criteria are ACT/SAT scores and grade
point average. Each school has its specific standards in these two
areas. Therefore, students should check with each school to ascertain
specific scholarship criteria.
When requesting general scholarship information,
students should also inquire about scholarships offered by specific
academic departments, for example, the Department of Engineering
or Music. Often times the Financial Aid or Admissions Office does
not administer certain departmental scholarships. Therefore, it
may be necessary to contact the department directly.
Use these links to find
more information:
Colorado
State University
West
Point
University
of Louisiana
2. State
The state of Louisiana offers scholarships,
too. Most, but not all of these awards, will be applicable to Louisiana
public and private schools only. The Louisiana Financial Aid Handbook
provides details on state awarded scholarships. The phone number
to the Louisiana Office of Financial Assistance is 1-800-259-5626.
Information can be obtained on the following:
Use these links to find
more information:
Louisiana
Office of Student Financial Assistance
Rockefeller
Wildlife Scholarship
Robert
C. Byrd Scholarship
Youth
ChalleNGe Skills Training Program
In addition, check with Louisiana State representatives
and senators. State representatives and senators may grant up to
$1,000 to LSU students and one full tuition scholarship to Tulane.
Also, children of firefighters, who were injured or killed in the
line of duty, are eligible for tuition exemption, payment of room
and board, and a $125 book stipend from the State of Louisiana at
state and local universities.
3. Student and Parent’s Employer
Parents and employed grandparents should check
with their employers to see if their companies offer scholarships
for dependents. Employed students should also inquire about scholarships
with their current employers. Usually the personnel office has this
information.
Use these links to find more information:
Louisiana
Burglar & Fire Alarm Association
Air
Force Club
Barksdale Officers
Spouses' Club
4. Louisiana Department of Veterans Affairs
This state agency offers scholarships to children of deceased or
disabled veterans. (504)922-0458
5. Reserve Officers’ Training Corps (ROTC)
Students should contact the appropriate military
science department at the school they plan to attend or a local
recruiter. At some universities, Tulane in particular, ROTC scholarships
cover the costs of room, board, and tuition.
Use these links to find more information:
Air Force ROTC
Army ROTC
Navy ROTC
6. Disabled Students
If a student has a disability of any type,
he should check the Louisiana Department of Health and Human Resources:
Division of Vocational Rehabilitation. This is a state agency that
helps disabled collage students with 100% of tuition and fees at
a public institution or up to the highest state tuition at a private
school.
7. Minority Students
Minority scholarships (African-American, Native-American,
Hispanic, Asian-American) are also available from the various sources
mentioned above. Students should request specific information regarding
minority scholarships from collage/universities.
Use these links to find more information:
www.uncf.org
www.naacp.org
Gates Millennium
Scholars
LULAC
National Scholarship
The
Jackie Robinson Foundation
8. Other Sources
Countless organizations and private citizens
offer scholarships for any number of reasons: GPA, community service,
school leadership, or club, group or union affiliation. Also, if
a parent/guardian is a member of a private organization, he/she
should check with the organization for possible scholarships.
Use these links to find more information:
Coca-Cola
AXA Foundation
Junior Achievment
Best
Buy
SallieMae
Fund
Elks
National Foundation
Kohls
Kaplan
National
Federation of Independent Busnesses
Holocaust
Rememberance Project
Tylenol
Al's
Formal Wear
Burger
King
Horatio
Alger Association
EWISP
Scholarship Program
Predential
Spirit of Community Award
VFW
Voice of Democracy Scholarship
Target
OP LoftBed
Straight
Forward Media
Paper-Check.com
9. College Athletics
Students wishing to participate in intercollegiate
sports at a Division I or Division II school must first register
with the NCAA Clearinghouse at the end of their junior year in high
school.
MEMORANDUM from the NCAA
Initial-Eligiblity Clearinghouse dated August 15, 2003
To register, prospective student-athletes should
access the registration materials by visiting the clearinghouse
Web site at www.ncaaclearinghouse.net.
From the home page, the prospect should click on “prospective
Student-Athletes,” which will link the student-athlete
to the necessary information.
We strongly suggest that prospective student-athletes
who plan to participate in intercollegiate athletics at an
NCAA Division I or II institution use this online registration,
rather than completing the paper form. If a prospective student-athlete
wishes to pay by check or money order, the student must complete
the paper form. You may access additional forms by visiting
the NCAA Web site at www.ncaa.org.
From the home page, pull down the Parent/Prospect page from
the Custom Home Pages pull-down menu. From there, click on
“Guide for the College-Bound Student-Athlete.”
It is extremely important that prospective student-athletes
read the guide carefully and understand the NCAA initial-eligibility
requirements. Your counselor can assist your students by helping
them compare their academic record from ninth grade to present
with the most current version of your high school’s
list of NCAA-approved core courses. This academic evaluation
will reveal any potential deficiencies a student may have
in meeting the requirements. To access the current version
of your high school’s list, you may visit www.naaclearinghouse.net.
Beginning August 1, 2005, for student-athletes
first entering a collegiate institution on or after August
1, 2005, computer science courses may no longer be used by
prospective student-athletes in meeting the NCAA core-course
requirements. This means that students who will graduate in
2005 or after may not use computer science courses to satisfy
initial-eligibility requirements.
Additionally, both Divisions I and II membership
have adopted significant changes in the academic-eligibility
standards for practice, competition and the receipt of athletics
scholarships during a student-athlete’s first year of
college. In Division I, beginning fall 2003, a student athlete
is required to complete 14 core courses, rather than 13. The
additional core course may be completed in any of the current
academic areas (i.e., English, mathematics, natural/physical
science, social science, foreign language, nondoctrinal religion
and philosophy). For those student-athletes who initially
enroll as a full-time student, beginning fall 2008, a student-athlete
will be required to complete 16 core courses. One of additional
core courses must be in the academic area of mathematics;
the other may be from any of the current academic areas. Additionally,
changes to the test-score/grade-point average index have been
adopted for Division I and are available for your review.
You may access the proposed changes through the NCAA Web site
at www.ncaa.org. Select
the Prospect/Parent page from the pull-down menu of the Custom
Home Pages.
Student-athletes who will be enrolling in a
Division II institution on or after August 1, 2005, will be
required to complete 14 core courses with the additional course
being completed in any of the current academic areas (i.e.,
English, mathematics, natural/physical science, social science,
foreign language, nondoctrinal religion and philosophy). |
Earning NCAA eligibility does not necessarily
mean you will receive an athletic scholarship to a Division I or
Division II school. Collegiate coaches and admissions officers look
for students who not only have outstanding athletic abilities, but
athletic talent as well. As a student, you can contact university
athletic departments by phoning or writing for information on athletic
scholarships.
Use these links to find more information:
Scholar
Athlete Milk Mustache Award (SAMMY)
Women's
Sports Foundation
Tops :
Click here for the site
To receive TOPS, the Free Application for
Federal Student Aid (FAFSA) must be completed. Once a student is
awarded TOPS, to continue in the program, the FAFSA must be filed
yearly. Further questions and concerns regarding this program should
be addressed to the Louisiana Office of Student Financial Assistance
at (800) 259-5626.
In some cases, TOPS can be combined with other
financial awards as long as the combination does not exceed the
students total cost of attendance. To err on the side of caution,
students who are TOPS eligible and receive some other type of financial
assistance (scholarships, federal financial aid, tuition waivers),
should contact the university financial aid office to determine
what may be included in their financial aid packages.
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