ROLLINS COLLEGE:FOUR KEYS TO PAYING FOR COLLEGE

Knowing how you are going to pay for college is essential to getting off to a successful start.By following the four keys to paying for college in this guide, you will have a head start in better understanding your college costs and various options to assist you in paying for them.

• Complete the FAFSA• Understand and Estimate College Costs• Seek Scholarships• Determine Funding Options

COMPLETE THE FAFSA All students who are US citizens or permanent residents should complete the Free Application for Federal Student Aid (FAFSA) to apply for Federal and State financial aid. The FAFSA is also commonly used to determine a student’s level of financial need for institutional or internal scholarships and grants (financial assistance provided by your college or university) and external scholarships and grants (financial asssistance provided by third-party agencies and organizations).

The FAFSA is free. Never pay for sites offering assistance with the FAFSA – free assistance is available through the FAFSA website. The FAFSA calculates an Estimated Family Contribution (EFC) - the amount the family can contribute toward the cost of the student’s education. The EFC is typically considered the measure of demonstrated financial need that determines both how much and which types of aid a student is eligible to receive. The Student Aid Report (SAR) is a paper or electronic document that gives you some basic information about your eligibility for federal student aid and lists your answers to the questions on your FAFSA.

Great resources for students engaged in the FAFSA process and various forms of Federal and State Aid are Top 10 FAFSA Myths and Financial Aid 101: Getting Started, published by the Central Florida College Access Network. Rollins College Financial Aid Office also provides online assistance in filing and/or correcting your FAFSA.

UNDERSTAND AND ESTIMATE COLLEGE COSTSCost of your college education will depend in large part upon the college you choose to attend and whether you opt to live in campus housing. Room and board (housing and meal plans provided by the institution) will increase costs. Most students pay less than the published cost for their college education so focus on the net cost (college’s tuition and fees minus any grants, scholarships, or education tax benefits) vs. the published price when considering if an institution is affordable.

Tuition is what colleges charge for the teaching or instruction they provide. It is usually assessed by semester or quarter, depending upon how the academic year is divided.

Other fees and costs are institutional fees for enrollment applications, parking, among other student service costs.

The Cost of Attendance (COA) is the total of tuition, room and board (or off-campus housing and living expenses), books, fees, supplies, and all other transporation and personal living expenses. Some of these expenses are billed to the student by the institution (direct expenses) but others are incurred by the student (indirect expenses). Direct and indirect expenses comprise the total annual COA. Students should anticipate a slight tuition increase each year. In accordance with the Higher Education Opportunity Act of 2008 (HEOA), each postsecondary institution in the United States is required to provide a net price calculator. The calculator uses information you provide to estimate how much money in grants and scholarships that the student may be eligible to receive. It subtracts the estimated grants and scholarships number from your cost of attendance to estimate how much the college will cost you (net cost).

The estimated cost of attendance at the Hamilton Holt School is posted on the Rollins Evening Financial Aid Web page: http://www.rollins.edu/financial-aid/holt-financial-aid/cost-of-attendance.html

SEEK SCHOLARSHIPSA Scholarship is money for college that does not have to be repaid. Businesses, organizations, and individuals donate funds that are used for scholarships. Awards vary and can be based on avariety of criteria including: financial need, academic merit, achievements, skills, ethnicity, or interests. There are numerous places to search for scholarships, grants, and tuition assistance including: employers, charitable organizations, banks and financial institutions, professional organizations and associations, religious organizations, clubs and interest groups, and military programs. Preparation, persistence, and patience will be required.

Beware: There are many scams associated with the college scholarship search process and students should never pay for scholarship searches. Be wary of “free” seminars, sites, or services claiming to teach you how to get scholarship money. Some may be real but others are intended to sell you services or collect information. Do not respond to letters or messages regarding awards from a place you never applied. This is a tactic often used to acquire your personal information. If you believe you have encountered a fraudulent scholarship, go to www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt009. pdf

Institutional (Internal) Scholarships are a great place for students to begin researching scholarship opportunities at their college or university - visit the Financial Aid Office and speak with others at the college (advisors, faculty, administrators, and fellow students). Scholarships may be offered through academic departments or campus organizations and programs. In fact, each year Rollins Evening awards over $600,000 to deserving students enrolled at the Holt School (see http://www.rollins. edu/evening/tuition-and-financial-aid/scholarships.html). Be sure to carefully note application deadlines and plan in advance.

External Scholarships are third-party awards from agencies, foundations, businesses, clubs, and organizations external to the educational institution. Email holtscholarshipadvising@rollins.edu for access to the Holt Scholarship Opportunity Guide.

Organize the search by devoting both time and attention to the scholarship search and application processes. Successful scholarship recipients apply for numerous awards (regardless of the award amount) over long periods of time and develop time-saving strategies to become more familiar with common application processes and expectations. Some common information will be required on all scholarship applications, but students should carefully read the expectations and eligibility requirements for each opportunity. Awards are competitive, and incomplete or inaccurate applications are often rejected without consideration. It is not uncommon for students to become frustrated with the process at some point, but persistence increases opportunities for success. You need to identify systems to store and track your application materials, awards of interest, dates and deadlines, and application submissions and outcomes.

Develop a personal resume that highlights your personal, professional and academic skills and accomplishments. Include all of your civic and service activities as many foundations and organizations offering scholarships are inclined to fund students who can reflect a giving attitude. Rollins Office of Career & Life Planning offers online resume/curriculum vitae instructions and samples including cover letter suggestions and recommendations.

Valuable scholarship opportunities with essay requirements are often avoided by students. Scholarships are competitive, and the essay provides an opportunity for students to separate themselves from the crowd. There is no one-size-fits-all scholarship essay. Develop a concise, effective, and well-written essay that conveys your unique qualifications for the scholarship award. Make your essay personal by illustrating each point with details from your own experiences. Research the scholarship provider’s mission and values by closely examining the application and prompts. The provider’s website may feature profiles about past recipients which may help to identify the unique criteria that the provider is seeking. For example, some inquire about overcoming adversity, demonstrating leadership qualities, or academic performance. It is possible to compose an essay template that can be used as a foundation for many essay questions, but advanced research and attention provides the best opportunity for you to tweak your essay and match your experience to the intentions of the donor. Always solicit assistance in proof reading and feedback on your essay from a colleague, peer, mentor or the Rollins College Writing Center. Some additional online guides to essay writing: Fastweb; Harvard College Writing Center; Rollins TJ’s Tutoring and Writing Center (see Writing Support).

Obtain any supporting documentation that may be required: official transcripts from high schools, colleges or universities, financial statements, medical or disability documentation, proof of a membership, religious affiliation, or residency.

“Official” transcript copies are original documents issued by the institution that typically include a unique seal or signature that confirms the authenticity of the document. Some providers permit the electronic transfer of official transcripts, but most require the transcripts be sent directly from the issuing institution. There is often a fee associated and students need to allow sufficient time for processing a transcript request (processing times may require weeks).

Letters of Recommendation may be required showing support from faculty, administrators, professional or personal references. You may be able to solicit a more generic letter of recommendation that can be used for multiple applications; however, it is more desirable to provide the recommender with details about the award so they can target their remarks to your unique qualification for the award. Again, you will need to allow sufficient time for the recommender to write and submit the recommendation on your behalf (30+ days in advance). Some recommendation requests are sent directly to the recommender by the scholarship provider via email. Maintain close contact with recommenders throughout the application process to insure this important application requirement is completed.

Apply through more than one of the free major search engines (BigFuture.collegeboard.org, cappex.com/scholarships, fastweb.com, Scholarships.com). Successful scholarship recipients explore mulitple scholarship resources and they maximize time commitments by strategically opting for varying application formats (e.g. alternate some that have fewer or less time-consuming requirements). They also research less competitive local scholarship opportunities.

Interviews. Most scholarships will not require an interview, but some will. Anticipate that interview questions will focus on your educational and career goals, academic and personal experiences, ideas and creativity, resourcefulness, adversity you have overcome, and your need for assistance. Be prepared to respond or offer information that serves to present yourself as the best candidate. Practice responding to anticipated interview questions with faculty, friends, co-workers, advisors, or family members. Dress professionally for the interview and arrive earlier than the appointment time (15 minutes).

DETERMINE FUNDING OPTIONSA Financial Aid Award Offer is prepared for students who complete the FAFSA and are eligible to receive either Grants (funds which do not have to be repaid and are awarded to students with financial need), Work-study (part-time campus-based employment to help pay a student’s education expenses), and Loans (money that is borrowed and must be paid back with interest).

Personal funding options are various methods that families can utilize to pay educational costs. The Free Application for Federal Student Aid (FAFSA) determines if students are eligible to receive Federal and/or State financial support through grants and/or loans. Students should also explore institutional, community, and corporate scholarship opportunities. Many employers offer various forms of educational assistance. Students may also need to use personal funds or accept assistance from family and friends. Most colleges, including Rollins, offer free or low-cost payment plans.

Florida Prepaid College Fund offers affordable college savings plans for Florida families. The plans are designed to be used at Florida schools but can be applied to schools nationwide. Florida Prepaid pays based on the state institution tuition rates established for the year of purchase, and funds may be used at private colleges by completing a Transfer Authorization Form. Additional information: MyFloridaprepaid.com.

Florida Resident Access Grant (FRAG) provides tuition assistance to Florida undergraduates attending an eligible private, non-profit Florida college or university. The Florida Student Assistance Grant (FSAG) is a need-based grant for undergraduate degree-seeking students with substantial financial need. The Federal Supplemental Educational Opportunity Grant (SEOG) is a federal assistance grant reserved for college students with the greatest financial need. Students must be a Florida resident and a US citizen or eligible non-citizen. Students must attend on a full-time basis (12+ credit hours) each semester to remain eligible. Speak with the Financial Aid Office to be considered for these grants.

Loans may be necessary to finance all or part of your education. Students need to explore their options and fully understand how loans could affect their finances after graduation. Federal loans (subsidized by the government) should always be a first consideration since they typically do not accrue interest while attending school. Additionally, these loans offer lower, fixed interest rates and more flexible repayment options than loans from private lending sources (banks, credit unions). Information regarding the differences between private and federal loans is included on the Federal Student Aid website. Despite income level, students should always complete the FAFSA because they will qualify at a minimum for unsubsidized federal Stafford loans which carry the same low interest rate and terms as subsidized government loans, but interest accrues while the student is enrolled. Tips to ensure that students are informed and responsible borrowers:

• Prepare a budget and stick to it.• You are not required to accept all of the loan that is offered as part of your financial aid offer.• Based on your budget, anticipate what you can afford to repay upon graduation and

decline the rest of the loan amount.• Keep track how of much you borrow and make sure you pace your budget and aid over the

duration of your education.• There are various tools available to help students estimate the amount of educational debt that

they can afford based on the anticipated salary of the field they will be entering upongraduation (CollegeBoard Loan Calculator, The SmartStudent Guide to Financial Aid). Thesetools help calculate the anticipated monthly repayment costs so that students can determinewhether the amount will be overly burdensome.

Overcoming prior student loan debt: Students who have prior federal student loans must address a default before they are eligible to complete the FAFSA and receive additional financial assistance. Do not assume that you have no options. Federal Student Aid, an office of the US Department of Education, publishes guidelines on loan repayment options. You should never pay for loan repayment advice or services. It is provided at no cost to students through appropriate agencies.

Military aid is available for active, retired, and deceased members of the military and their family members through various federal sources and affiliations with organizations of their military branch. Veterans are eligible to participate in the US Department of Veteran’s Affairs Educational Benefits Program. Current programs for veterans are:

• Chapters 30, 31, 35, 1606, 1067• Post-911 GI Bill (Ch.33)• The Yellow Ribbon Program

Service members, veterans and beneficiaries may apply for benefits on the Veterans Online Application (VONAPP) Website. Ms. Teresa Cole, Financial Aid Facilitator, coordinates veteran services for Rollins College (tcole@rollins.edu). Many military and public service member awards are available through the Holt Scholarship Opportunity Guide - email holtscholarshipadvising@rollins.edu for access.

Resources for International and DACA Status Students: Federal and State financial assistance is limited to citizens of the United States. There are some other forms of assistance available to international students and students who hold Deferred Action for Childhood Arrival (DACA) status.

• Hamilton Holt School Scholarships – Applications open March through May, for next academic year

• Rollins College payment plan

• International Financial Aid and College Scholarship Search: www.ifea.org/scholarshipsJack Kent Cooke Foundation: www.jkcf.org/scholarship-programs/InternationalScholarships.com: www.internationalscholarships.comTheDream.usHolt Scholarship Opportunity Guide: email holtscholarshipadvising@rollins.edu

The Hamilton Holt School Scholarship Initiative Team is available to assist with the search process. Feel free to contact a team member if you have questions or would like to set an appointment

holtscholarshipadvising@rollins.edu