October 14, 2009

Miriam Tice

GRASP Advisor

henrico@grasp4virginia.com

grasp4virginia.com

24 hour hotline 804 323 6996

Post Secondary Education

A Financial Perspective

GGRASPRASP

What is GRASP?

Our goal is to ensure that every student has an equal opportunity for continuing education after high school, regardless of financial or social

circumstances.

Deep Run High SchoolDouglas S. Freeman High School

GodwinHenrico

HermitageHermitage Technical Center

Highland SpringsTuckerVarina

Your GRASP Advisor, Wednesdays: 9:00 – 2:00

• Miriam Tice is the GRASP representative for Henrico High School returning for her second year!

• Undergraduate degree from Virginia Commonwealth University, Cum Laude.

• Appointment sign up sheet is located in school counseling.

• To email: henrico@grasp4virginia.com

5 Steps to Success

1. Scour college websites: scholarship dates, priority filing dates for financial aid, application dates.

2. File FAFSA on-time regardless of your perceived financial need.

3. Do not get “emotionally hooked” on a school if finances matter.

4. Apply for Henrico’s advertised scholarships!5. Do not exclude private schools from your list

due to affordability issues.6. Pay attention to emails.

2009 GRASP Scholarship Winner

and Donor

In case you forget all that I say, look at:

www.ecmc.org/student/Opportunitiesbooklet.html

This Virginia-specific guide is available in

English, Spanish, Vietnamese and Russian.

5 Step FAFSA Process1. File @ www.fafsa.ed.gov after 1/1/10.2. At the final FAFSA step, after “submit your FAFSA”,

note the data release number (DRN) and EFC displayed. These will appear immediately.

3. Check email regularly. Look for a Student Aid Report. Check it for errors.

4. Before the priority filing dates, contact schools to verify receipt of the FAFSA. Schools should have downloaded it from the FAFSA website.

5. Upon receipt of letters from the government or schools regarding verification or a rejection, respond promptly!

If you miss your school’s priority filing date, file anyway and

file soon.

• Virginia Tech 3/1• Virginia State 3/31• UVA 3/1• JMU 3/1• CNU 3/1• Mary Washington 3/1• VCU 3/1• ODU 2/15• Norfolk State 3/12• William and Mary 2/12

Priority Filing Dates

This FallIn the fall, get preliminary results from:

www.fafsa4caster.ed.gov

“I will not file -- we will not get anything”

Choosing to not file the FAFSA will mean that your school will not consider you for financial

aid – “free money” grants or loans.

What is Financial Need ?

College’s Cost of Attendance

– Expected Family Contribution FAFSA calculated

= Your Financial Need

Your Financial Aid Award Letter

• The school determines your financial aid award

• The school selects the applicable federal programs

• The school calculates your potential loan amounts

• Award letters may also include school scholarships

Award Letter Example

Family NeedFamily Need

FAFSAFAFSA

Each school is different

Each school is different

Award DescriptionFall

2009Spring 2010 Total

Plus Loan 3505 3505 7010

Subsidized Stafford Loan 2250 2250 4500

VGAP 3718 3718 7436

Total 9473 9473 18946

Cost of Attendance 25356

Family's EFC 6410

Total Need 18946

One Application, Many Programs

• Federal Pell Grant• Academic Competitiveness Grant• National Science and Mathematics

Access to Retain Talent Grant• Teacher Education Assistance for

College and Higher Education Grant

• Federal Supplemental Educational Opportunity Grant

• Federal Perkins Loan• Federal Work-Study• Stafford Loans• PLUS Loans

• Virginia College Scholarship Assistance Program

• Virginia Commonwealth Award• Institutional Aid

Scour the websites of the schools you are interested in for financial assistance! Most have many in addition to the FAFSA.

Scour the websites of the schools you are interested in for financial assistance! Most have many in addition to the FAFSA.

Borrowing Money

• Federal loans have fixed interest rates. There is no shortage of loan money for these loans.

• Repayment usually begins after education is finished.

• FAFSA – required for fixed rate Stafford Loan 6.8%. Maximum borrowing: 1st year: $5500, 2nd year: $6500, remaining years $7500

• FAFSA – required for PLUS loan – parent loan of 7.9% – 8.5%

• Private loans – be aware of associated risks

Community College Transfer Programn Relatively New Virginia

Programn See website for details

www.vccs.edu/transfern Example: VA Tech

Engineering guaranteed admission agreement

n $1000 grant upon transfer (GPA & need requirements), additional $1000 for STEM majors

Virginia’s Only Junior College

• Richard Bland• Tuition and Fees about

$11,600 / year • The curriculum is intended to

allow students to acquire junior status after transferring to a four-year college, or to pursue expanded career opportunities.

J. Sergeant Reynolds Scholarships

• Complete the admission application before 3/31.

• Complete the scholarship application online by 3/31.

• Minimum 2.0 cumulative G.P.A.• Scholarship application requires

4 short personal statements

Academic Common MarketIn-state tuition at out of state schools

available through this multi-state agreement.

www.schev.edu/students/academiccommonmkt.asp

Technical School / Apprenticeship

Free education at the Apprentice School --www.apprenticeschool.com

Check for school certificationhttp://www.schev.edu/higherEd/POPE.asp

Understand costs and programs Ask about job placement and follow-up services Ask employers their opinion of the school Look into local companies on-the-job apprenticeships

On-line apprenticeship resource: www.doli.virginia.gov

Adjusted Gross Income < $40,000

• University of Richmond - total family income is $40,000 or less and demonstrated eligibility for need-based aid, aid package equals full tuition, room and board (without loans).

• College of William & Mary –Gateway • UVA –UVA Access• Virginia Tech – Presidential• James Madison – Centennial• Virginia Union – Brighter Future

Initiative

6 All Inclusive opportunities

in Virginia

6 All Inclusive opportunities

in Virginia

Students with Disabilities• Creating High Expectations College Resources see

www.create.org.vt.edu• College Bound www.cpe.vt.edu/collegebound• P.A.V.E. at J Sergeant Reynolds• Randolph College website (Google Randolph college

students with learning disabilities tips)• www.going-to-college.org• Richard Bland resource: Evonda Watts-Martinez, (804)

862-6263, ewatt@rbc.edu

Appeals & Special Circumstances

• Dependency, Cost of Attendance, Financial Aid Appeal … download college specific form from college website

• Common reasons: layoff, illness, reduction in income, documented separation from parents

• College will review special circumstances

– Request additional documentation– Decisions are final and cannot be appealed to U.S.

Department of Education

VTAG

• Virginia Tuition Assistance GRANT Program• Applies only to Virginia private schools• Submit before July 31 … suggest submitting

immediately• Exact amount will not be released until March

of 2009• Usually about $ 3,000/year.

Additional School Specific Forms

• Some schools have additional forms. The safest thing to do is to call your school’s financial aid department and/or look closely at their website.

• CSS/Financial Aid PROFILE – check your school, some examples: Hampden-Sydney College, Washington & Lee, Princeton, Harvard

• School specific form: University of Richmond, Elon• Ask about due dates. You may lose aid if you miss

due dates.

Military Options

Air Force ▪Army Coast Guard ▪National Guard ▪Navy ▪Marines ▪Merchant Marines

n Corp of Cadets @Virginia Techn Virginia Institute for Women’s Leadership

@Mary Baldwinn Virginia Military Instituten ROTC -- Apply to school and apply to ROTC online:

example www.armyrotc.comn Military Academies – 4 year education at no costn Commonwealth Challenge – to obtain GED degree

www.ngcyp.org