Funding College

Office of Financial Aid and ScholarshipsClackamas Community College

Program AgendaWhat is Financial Aid

Sources/TypesProcessesDeadlines

How to Get HelpScholarships

The Oregon Promise

Sources of college funds – 2015

5% Relatives & friends

16%Student borrowing

6%Parent borrowing

11%Student income & savings

32%Parent income & savings

30%Scholarships & grants

How the Typical Family Pays for CollegeAverage percent of total cost paid from each source

Source: “How America Pays for College.” Sallie Mae. 2015. https://www.salliemae.com/plan-for-college/how-america-pays-for-college/

3

What is Financial Aid?Money to help pay for your educational

costs.

Don’t assume you are not eligible for Federal aid!

Different Types of Financial Aid

GrantsScholarshipsLoansFederal Work-studyInternship/FellowshipInstitution Tuition WaiverEmployee BenefitsVeteran Benefits

GRANTS

Federal Work-Study

LOANS

Top 3 Federal Aid Programs

GRANTSFree Money!!Federal

◦Pell Grant◦Supplement Educational Opportunity Grant

State◦Oregon Opportunity Grant ◦Oregon Promise Grant

Colleges and Universities◦Many colleges offer their own need-based grants

Student and Parent Loans

Money you will have to pay back

Federal Direct Student Loans

PLUS Loans

Alternative Loans

Federal Work Study Program

On-campus Employment

Off-campus Employment

Internships

General Federal Financial Aid ProcessTimelines vary from college to college. Understanding how colleges do their processing is imperative.

1) Submit FAFSA Online

www.fafsa.gov2) Federal processor

receives data

3) Student Aid Report sent to Student &

College

4) College will contact you & may need more

information (Indicates your FAFSA was

received, & gives instructions for next steps!)

5) Student sends requested

information to college

(Respond QUICKLY!)

6) Financial Aid Office processes file (Timelines vary– may take

approx. 6 to 12 weeks)*Additional information may

be requested!!!

7) Student receives Award Letter or

College needs further information

(see box 4)

8) Student may need to accept or reject

Award Letter

DON’T FORGET TO… COMMUNICATE:

1. Read your email!!! 2. Log in to college account frequently

3. Check mail and return phone calls

Seniors, file your FAFSA online starting January 1st,

2016www.fafsa.gov

2017-2018 and beyond, file your FAFSA beginning Oct.

1st 2016!Using 2015 tax information

What is needed? Student & Parent

Social Security Number and Legal name

Alien registration or permanent resident card o Deferred Action for Childhood Arrivals (DACA)

students do not qualify for FAFSA funds

Driver's license or state ID number

Most recent federal income tax returns, W-2s, and other records of money earned.

Untaxed income records

Current business and investment information

FSA ID fsaid.ed.gov

Common FAFSA ErrorsParent information:

◦ SSNs, DOBs, Names◦Unmarried/divorced/remarried

Untaxed income: Veteran’s Disability, Worker’s Comp, Child support received, etc

U.S. income taxes PAID Household sizeNumber in collegeSupporting a childLegal Guardian

IRS Data Retrieval ***

Available early February of each yearThis is an electronic way to transfer your

tax information

Special CircumstancesInformation

that cannot be reported on the FAFSA

Send written explanation to financial aid office at college

Special Circumstances

Change in employment status

Medical expenses not covered by insurance

Change in yours or parent marital status

Unusual dependent care expenses

Student cannot obtain parent information

Cost of Attendance (C O A)

Tuition and Fees

Room and Board

Books and Supplies

Personal Expenses

Transportation

Expected Family Contribution (EFC)

EFC = Expected Family Contribution

This is the amount of money the government expects the student and family to pay towards their education.

How An Award Is Calculated

COA: $ 13,269

- EFC $ 1,500___________Financial Need = $ 11,769 *Colleges “package” financial aid awards

to meet as much of the eligible student’s financial need as possible.

Most aid is conditional !

Must be seeking Degree or one year Certificate

Must pass courses with at least a 2.0 GPA (“C”)

Must complete courses that aid assists with

Most aid is conditional !

Some programs/scholarships may require that you maintain a higher GPA

Some programs/scholarships may require full time enrollment

The Oregon Promise Grant will require 2.5 GPA

FAFSA may be the key to other aid

ScholarshipsTribal FundsVocational

Rehab. FundsJob TrainingState Grants

NEED HELP?

Clackamas Community College offers a FAFSA Lab!

Monday – Thursday 10 AM – 2 PMRoger Rook Hall, Room 133Staffed by Financial Aid Professionals Hands on environment to help with:

◦Filling out your FAFSA and scholarship searches

NEED HELP?

1-800-4FED-AIDAny Financial Aid Office

Scholarships

There is a scholarship out there for everyone!

Major or Program of Study

Academic Merit (GPA) Extracurricular Activities Financial Need

Personal Barriers

Where to look for scholarships

A great place to start…

Your high school career office!

Where to look for scholarships

Colleges and UniversitiesHigh School Career/Counseling OfficeThe WEBOrganizationsEmployerWhere you worship

General Caution: Beware of Scams!

Watch out for fees and guarantees

Never pay for a scholarship, not even an application fee!

Legitimate donors will not ask for an application fee.

Make a Scholarship List Keep track of all the scholarships you are

applying for; list them by their due dates.

Application TipsMeet all Deadlines!

Follow the Instructions

Make Copy of the Scholarship Application

Type the application, essay, and any additional information

Fill in all the Blanks

Scholarship applications requireEssay

Letters of Recommendation

Transcripts

Create a winning essay!Answer the questionsKeep it simple and focus on the topicDo tell your accomplishmentsUse descriptive wordsKeep it neatDo state your needWrite as though you’re talking to the

selection committeeUse the same essay for multiple applications

Reference LettersObtain more letters than you needAsk as early ahead of time as

possible!!!!These letters need to be current,

written within the last year.Letters should be on letterhead if

possible and include an original signature.

Thank you to your references!

Activity ChartSchool/Family/Community ActivitiesResponsibilitiesDatesHonors/Awards/Office HeldPaid Jobs

Get involved!

The THANK YOU LETTER

Be sure to write a thank you letter to your scholarship

donor.

Why scholarships are a good investment of your time…

Student invests 10 hours to apply for 10 scholarships and is awarded one for $2,000-That student just earned $200 an hour.

At $9.25 an hour, you would have to work 216 hours to earn $2,000

A great scholarship programOregon Student Access and Completion (OSAC) Scholarships www.getcollegefunds.org475+ scholarships!More than $15 million availableEarly Bird vs general deadline

◦Feb. 15th 5 PM vs Mar. 1st 5 PMApplication opens early November

Great scholarship opportunities:Clackamas Community College

Foundation Scholarships$600,000+ in scholarships available

each yearApplication opens January 30th,

deadline March 30th, 2016

www.clackamas.edu/scholarships

State of Oregon Grants

Oregon Opportunity GrantFile your FAFSA before February 1st! WWW.FAFSA.GOV

Oregon Promise GrantApplication available Nov. 1st 2015WWW.OREGONSTUDENTAID.GOV

Oregon Promise Grant

Receive an Oregon high school diploma or GED® in Spring/Summer 2016

Oregon resident for at least 12 months prior to community college enrollment

Enroll in community college within 6 months of completing high school or GED®

Cumulative high school GPA of 2.5 or better

You should apply for:

Grants and ScholarshipsFederal Work-studyInternship/FellowshipLoans

15-16 Award Year Amount

Pell Grant: $5775SEOG: depending on school (CCC-$1050)Oregon Opportunity Grant: $2100Federal Work-study: depending on school

(CCC-$4500)Direct Loans: $5500-$9500

What is the website to apply for financial aid (to complete your FAFSA)?

What should you apply for first?

Questions… and Thank you!

Office of Financial Aid and ScholarshipsChippi Bello, Director