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Paying For College for Students
87
Transcript
- Grants - Free money usually awarded based on need ie: Pell, MN State Grant, college funded grants
- Does not have to be repaid
- Work Study - Money funded by the government that must be earned by working a part-time job on or off campus
- Jobs can sometimes provide good experience in your field of study
- Loans - Borrowed money from the government or private lenders that must be paid back with interest
- Government Loans vs. Private Loans
Paying for College
We want to see you in college! Why??
Visit us!
www.ohe.state.mn.us
Includes information on:
Reciprocity
Tax benefits
Tuition and Fees for 5 State Area
Financial Aid Estimator
Preparing, Selecting, Paying
SUMMEr Nudging!!
Knowledge - Critical thinking skills
Potential - Who are you? What are your interests?
Opportunity - More doors open
Income - 1 Million Dollars
Questions?
Marcio Thompson
marcio.thompson@state.mn.us
How much does it cost?
Avg. Tuition and Fees 2016-2017
Technical & Community Colleges $5,400
State Universities $8,050
University of Minnesota $14,225
Private Career Colleges $14,270
Private Colleges & Universities $38,300
Net Price Calculators
How do I pay for it?
Other ways to pay/save?
- Scholarships - Free money awarded for special talents, grades, cultural or religious backgrounds etc.
- Do not have to be repaid
- www.fastweb.com or www.finaid.org
- www.ohe.state.mn.us to see a list of MN institution scholarships
- Contact - Colleges, community, coaches, teachers, counselors, employers, parents etc.
- Need Letters of recommendation
- Savings - The more you save, the less you'll have to borrow
- MN College Savings Plan - 529 Plan
- Visit: www.mnsaves.org for more information
- Family Contribution - Financial Aid is designed to assist families who are unable to contribute.
- Can include things like room and board, transportation.
- Can also include extended family and close friends.
Dual Credit - PSEO, CIS, AP, IB
- readysetgo.state.mn.us
Military and Community Service -
- ROTC - 2, 3 and 4 year scholarships incl. full tuition, fees, books and living stipend in exchange for years of service.
- Americorps - Defer federal loans. Education Award per term. Qualifies for Public Service Loan Forgiveness.
- Peacecorps - Defer federal loans. Perkins Loan 15% balance cancellation per year of service.