Tennessee Student Assistance Corporation

Tennessee Student

Assistance Corporation

College Pays . . . We Can Get You There.

Drew FreemanTSAC Outreach

[email protected]

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• Process Begins Now!!!

– School Counselor

• Research colleges online

– www.collegefortn.org

– www.collegeboard.com

– www.college.gov

• Attend a college fair

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http://www.collegefortn.org/

http://www.collegeboard.com/

http://www.college.gov/

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- Visit the colleges that you are considering attending

- Apply for Admission early during your Senior year of High School

- Things to consider when looking at colleges: cost, size, distance from home, major, religious affiliation, athletic programs, music/art programs, Greek life, etc.

- Academic Common Market www.tn.gov/thec

http://www.tn.gov/thec


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Each College will have its own deadlines for Admission and Scholarships. Pay close attention to these deadlines!

Three places you should always look on a college’s website if you are considering that institution: Admissions Webpage, Financial Aid Webpage, and the Scholarship Webpage

***It is okay to go through the Admissions & Financial Aid processes at more than one school.

ACT TEST DATE REGISTRATION DEADLINE LATE FEE DEADLINE

October 23, 2010 September 17, 2010 October 1, 2010

December 11, 2010 November 5, 2010 November 19, 2010

February 12, 2011 January 7, 2011 January 21, 2011

March 15, 2011 **JUNIORS** SEE SCHOOL COUNSELOR

April 9, 2011 March 4, 2011 March 18, 2011

June 11, 2011 May 6, 2011 May 20, 2011

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SAT TEST DATE REGISTRATION DEADLINE LATE FEE DEADLINE

October 9, 2010 September 10, 2010 September 24, 2010

November 6, 2010 October 8, 2010 October 22, 2010

December 4, 2010 November 5, 2010 November 19, 2010

January 22, 2011 December 23, 2010 January 7, 2011

March 12, 2011 February 11, 2011 February 25, 2011

May 7, 2011 April 8, 2011 April 22, 2011

June 4, 2011 May 6, 2011 May 20, 2011

www.act.org

www.collegeboard.com


What is Cost of Attendance (COA)?


-Direct costs (i.e. tuition, fees, room and board)

-Indirect costs (i.e. books, supplies, transportation, etc.)

-Varies widely from college to college

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What is the Expected Family Contribution (EFC)?


-Amount family can reasonably be expected to contribute to college expenses

-Stays the same regardless of college

-Two components-Parent contribution-Student contribution

-Calculated using data from a federal application form and a federal formula

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What is Financial Need?


Cost of Attendance

- Expected Family Contribution______________________________

= Financial NeedFin

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There are four types of Financial Aid

• Scholarships – free money awarded on the basis of merit, skill, or unique characteristic

• Grants – free money based on need

• Loans – money borrowed that must be paid back (LAST RESORT!!!)

• Employment

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• Federal government (Pell Grant, Stafford Loans, etc.)

– DEADLINES, www.studentaid.ed.gov, www.fafsa4caster.ed.gov

• State (TN Student Assistance Award, HOPE, etc.)

– DEADLINES, ACM (out-of-state), www.tn.gov/collegepays

• Colleges (Institutional Aid)

– DEADLINES, ACT/SAT, CSS Profile (some colleges)

– Admissions, financial aid, academic departments

• Private sources (National/Local Scholarships)

– DEADLINES, school counselor, websites, ESSAYS

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• 2011-12 FAFSA on the Web – Available January 1, 2011– www.fafsa.gov (VERY IMPORTANT!)– Priority deadline is as soon as possible after

January 1, 2011!• College Goal Sunday

– January 30, 2011 and/or February 13, 2011

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http://www.fafsa.gov/

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• www.pin.ed.gov • Obtain PIN(s)

before January 1, 2011 for student (and one parent)

• Please keep PIN(s) to use in subsequent school years

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http://www.pin.ed.gov/


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• 2010 income information

– File taxes early and use 2010 income tax return or;

– Estimate using W-2 forms, previous year income tax return, or last pay stub

– If you estimate, update FAFSA with actual 2010 information once known; verification

• Please contact financial aid office at each college if there are special circumstances

– Student cannot obtain parent information

– Change in employment status

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• Social Security Numbers, Last Names, and First Names

– Must match Social Security Card

• School Codes (Section 2)

– Enter four-year private schools first, then four-year public schools, and then two-year public schools

– Yes, provide additional information about your college enrollment plans

– Check work-study and loans and TEACH Grant if applicable

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• Dependency questions

– If you can answer yes to any question, you are considered an INDEPENDENT student

– If you are considered independent, parent information not required; only the student would complete FAFSA

– If you have a special circumstance and cannot provide parental information, submit FAFSA with only your information and contact the financial aid office at the college(s) you plan to attend in order to complete the FAFSA; professional judgment

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• Parental information

– Parent refers to biological or adoptive parent ONLY

– In case of divorce or separation, give information about the parent you lived with most in the last 12 months; if 50/50, give information about the parent who provided you the most financial support

– If divorced parent has remarried, information about stepparent is required

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• Tennessee Student Assistance Award (TSAA)– $4,000 per year at eligible TN independent institutions;

$2,000 per year at eligible four-year TN public institutions; $1,300 per year at eligible two-year TN public institutions; $1,000 per year at TN Technology Centers

– TN residents, U.S. citizens pursuing first degree and enrolled at least half-time

– EFC – 0 to 2100

– Submit FAFSA as soon as possible after January 1, 2011; Awards made until funds are depleted

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• HOPE Scholarship– $4,000 per year at eligible four-year TN institutions;

$2,000 per year at eligible two-year TN institutions

– TN residents achieving 21 ACT composite OR 980 SAT (Math + Critical Reading) OR final cumulative 3.0 GPA (Homeschool and non-category 1, 2 or 3 private high school requirements are different)

– An award letter from TSAC will be mailed as soon as eligibility is established in our system and the student’s FAFSA is clean

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• General Assembly Merit Scholarship*– $1,000 merit-based supplement to HOPE– 29 ACT composite/1280 SAT (Math + Critical Reading)

AND final cumulative 3.75 GPA

• Aspire Award*– $1,500 need-based supplement to HOPE– Parents’ or independent student’s (and spouse’s)

adjusted gross income must be $36,000 or less

* Students eligible for both supplements will receive Aspire Award ONLY

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• Minimum 2.75 cumulative GPA after 24 and 48 attempted hours

• After attempting 72 (96, 120, etc.) hours, a student may retain the award by either– Achieving at least a 3.0 cumulative GPA OR– Achieving a cumulative GPA of 2.75 – 2.99 AND a semester

GPA of at least 3.0 (provisional basis)

• If eligible on provisional basis, student must be enrolled full-time for each semester (excluding Summer); eligibility checked at the end of each semester; student must maintain 3.0 semester GPA

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• Must maintain satisfactory academic progress AND continuous enrollment

• Students should NEVER drop a course without consulting the financial aid office about how it may impact their HOPE eligibility

• If lost, students may regain the award one time only at a future benchmark; students also may repeat one course to improve GPA; contact financial aid office

• Scholarship is terminated after attainment of baccalaureate degree OR 5 years have passed from initial enrollment – whichever occurs first

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• Wilder-Naifeh Technical Skills Grant– $2,000 per year at TN Technology Center (TTC) – TN residents pursuing certificate or diploma program at

TTC– Students may be eligible for HOPE Scholarship IF initially

HOPE eligible and enroll at an eligible TN postsecondary institution within three years of completing a TTC diploma program

– Submit FAFSA

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• HOPE Access Grant• HOPE Scholarship for non-traditional students• HOPE Foster Child Tuition Grant

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• Dual Enrollment Grant*– Deadlines Vary

• Ned McWherter Scholars Program* – Deadline February 15

• Robert C. Byrd Honors Scholarship Program*– Deadline March 1

• Dependent Children Scholarship Program – Deadline July 15

• Minority Teaching Fellows Program (Loan Forgiveness)– Deadline April 15

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• Helping Heroes Grant– Deadlines September 1 (fall); February 1 (spring); May 1 (summer)

• TN Teaching Scholars Program (Loan Forgiveness)– Deadline April 15

• TN Math & Science Teacher Loan Forgiveness Program– Deadlines September 1 (fall); February 1 (spring); May 1 (summer)

• Graduate Nursing Loan Forgiveness Program– Deadline March 1

• Rural Health Loan Forgiveness Program– Deadline September 1

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FALL SEMESTER Apply to several colleges (admissions, institutional aid, etc) Complete local/private scholarship applications Obtain PINs for student and parent to complete FAFSA

SPRING SEMESTER Complete 2011-12 FAFSA available January 1, 2011 Continue completing local/private scholarship applications Review college acceptances, compare financial aid

packages, ask questions, and follow up as needed

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Financial Aid Package

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State Private

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Contact InformationDrew FreemanTSAC Outreach 615.417.0355

[email protected]

New website address:www.TN.gov/CollegePays


Tennessee Student Assistance Corporation

Documents

Transcript of Tennessee Student Assistance Corporation