1. Awesome! Financing Education Beyond High SchoolLolita A. Wood-Hill, Director Prehealth Advising, Yeshiva University woodhill@yu.edu

2. What is Financial Aid?Financial aid funds provide students and families withthe money needed to help pay for postsecondaryeducational expenses:ScholarshipsGrantsLoansEmployment OpportunitiesTax Benefits 3. Tuition & Fees Cost of Attendance Columbia University$43,815 $50,383 per yr Princeton U$36,640 $43,208 per yr New York University$40,132 $46,700 per yr Pace University$33,702 $40,270 per yr Rutgers U$24,337 $30,905 per yr Monroe College $11,856 $18,424 per yr CUNY Senior Colleges $4,978$11,546 per yr CUNY CC$3,528$10,096 per yr 4. Books and supplies Transportation Personal Housing FoodTotal (per yr)Tuition + fees + Other Expenses = Cost of Attendance Living at home COA=Away from home COA= 5. Free money Free money Financial aid in theawarded awarded as a result Borrowed moneyform of employment Stafford Loans =according to need of merit or $5,500 to $7500/year Federal Pell Grantpotential excellence Work-Study6.8% interest rate Maximum award for2011-12 = $5,550 Armed Services NYS Scholarship forScholarships Subsidized NY State TAP GrantAcademic Excellence Teach for America Unsubsidized Maximum Award for AmeriCorps.2011-12 = $4,925 Federal SEOG GrantGrantsScholarshipsFWSLoans !! !!!!!! !!!! 6. LOANS Money students and parents borrow to helppay educational expenses Repayment usually begins after education isfinished Only borrow what is really needed Investment in the future 7. Annual loan limits (combined subsidized &unsubsidized): $5,500($3,500 can be subsidized) for 1st year undergraduates $6,500 ($4,500 can be subsidized) for 2nd year undergraduates $7,500 ($5,500 can be subsidized) for each remaining undergraduate year 2012-13 interest rates:- Subsidized Loan = 6.8% (for loans in repayment)- Unsubsidized Loan = 6.8% 8. How Much Will Borrowing Cost You? Principal: $25,000 Interest Rate: 6.8% Loan Term: 10 years Number of Payments: 120 Monthly Payment: $287.70 Total Principal Paid: $25,000.00 Total Interest Paid: $9,524.10 Total Paid: $34,524.10 9. What Credit Cards Cost You! Principal: $1000 Interest Rate: 18% Loan Term: 10 years Number of Payments: 120 Monthly Payment: $18.02 Total Principal Paid: $1,000.00 Total Interest Paid: $1,162.22 Total Paid: $2,162.22 http://www.myamortizationchart.com/ 10. File the FAFSA (Free Application forFederal Student Aid) application atwww.fafsa.ed.gov.After completing the FAFSA, file theTAP (Tuition Assistance Program)application at:https://www.tapweb.org/totw.Respond to request(s) for additionalFAFSA or TAP information and/ordocumentation. 11. FastWeb scholarship searchHttp://www.fastweb.com/fastweb/register/start?ref=finaid-26f- Mexican American Legal Defense and EducationalFundhttp://www.maldef.org Latino College Dollars: http://www.latinocollegedollars.org/DIRECTORY.pdf Ayuda Financiera del Estudiante en Espaolhttp://www.finaid.org/otheraid/spanish.phtml 12. Self Help!Learn how toLive on a budget Distinguish between wants and needs Resist impulse buying Open a savings account Avoid credit cards and other consumerdebt