Financing College

Use some of these links for Financial Aid help and information:

www.fasfa.ed.gov
www.collegeboard.com
www.usnews.com
Scholarship Scams

argaiv1241

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.