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Paying for College

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Henrique C

on 3 September 2013

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Transcript of Paying for College

Paying for College
Types of Aid Available to you
Many schools have scholarships offerings on either their website or office
Especially in your Field of study so keep an open eye
Make sure to make deadlines as well as , Read details carefully
Typically they are Test-Score or GPA based
is always an option where you work certain programs offered by the school in exchange for University Class Credits or Payment or both
Scholarships (cont.)
Private Scholarships require you to meet a criteria
Sometimes with an essay for said criteria
These kind of scholarships are very abundant
Some are very competitive , others never get applied too ,
Large Variability
There are two types of Loans
State offerings
Some States have a program for In-state students to help pay for college
E.g. Florida BRITE FUTURES , Georgia HOPE , etc.
Check the State grant Agency for better information current State Funding (see next slide)
by : Henrique Carvalho
Scholarships from Institution
Private Scholarships
State Scholarships

Federal Loans
Private Loans
Each comes with their perks and trade-offs
Federal Loans
The Two Types of Loans are as follows
Subsidized Loans
- is A loan which you Goverment pays the interest of the Loan , NEED BASED
You are given 6 month grace period after graduating or dropping below enrollment limit to make payments on loan
The Maximum years you can borrow/make a loan on a Standard single "Four year bachelor's Degree" is 6 years
The Maximum Amount you can borrow over a total period vary per year of enrollment (See Chart)
Loans (Cont.)
Unsubsidized Loans
- a non-need based loan , However you are responsible for paying all Interests on the Loan ,
You can Choose to not pay while in school , and pay off interest and loan after graduation
Anyone can apply for this Loan
Interests Rate change yearly , may be less or more than the previous year
There is no maximum year for this kind of borrowing
Can be used in Conjunction with Subsidized loans
The Maximum Amount you can borrow over a total period vary per year of enrollment (See Chart)
RATES and Limits
There are Loan Limits per your year in college ( see Left) , Also depending on your Financial Status of a student
Rates And Limits (Cont.)
Subsidized Loans Stay at the rate you got them at
Unsubsidized Loans change annually their rate
E.G. Loan of 10,000 at 6.8% , equates to about $115 a month (you can deferred this amount to principal if waiting til graduation )
You can pay interests in School if you wish too

Private Loans
Are Loans from Banks and Private Companies to help pay for school
Are no limit on request so long as you can justify the cost
Same rules apply , You pay the interests , and payments towards the Loan can be made in school
Interests rates are dependent of the Company of gives the Loan , meaning they decide the Interests rates
Some may require a co-signer , meaning someone else may also be liable for the Cost of Loan
Typically done by mother , grandmother , or husband
This also gives said person power to may payments on loan , e.g. husband adds additional payments to loan for wife
Mo-Larrr Enterian Dentist : The Origin Story
duration ( 1m 23sec)
State Funding

Georgia Student Finance Commission
2082 East Exchange Place
Tucker, GA 30084
Phone: (770) 724-9022
Toll-Free: (800) 505-4732
Fax: (770) 724-9004
Email: monetr@gsfc.org or gsfcinfo@gsfc.org
Website: http://www.gsfc.org

Office of Student Financial Assistance (Florida)
Florida Department of Education
325 West Gaines Street
Tallahassee, FL 32399-0400
Phone: 888-827-2004
Toll-Free: 800-366-3475
Email: OSFAStudentLoans@fldoe.org or OSFA@fldoe.org
Website: http://www.FloridaStudentFinancialAid.org

Full Directory :

Grants - Are like scholarships except they
Do not have to be Repaid , and they are NEED BASED and not so academic
Make sure to complete your FASFA which reflects your need for Grant/Scholarships etc.
Most Common Type of Grant is a Pell Grant ,
Which gives roughly 5,600 per year
Upon Recieveing a Pell Grant , you qualify for the FSEOG program , (Click link for more details)

Examples of School Scholarships

(School Particular Financial Aid)
Examples of Private Scholarship
Loans - a loan is pretty straightforward: first you borrow money, and then you repay it. College Loans are made up of two parts, the
(amount borrowed) and the
(an annual percentage based fee for borrowing said loan)

Before Applying to anything
Free Application for Federal Student Aid
is a document every college student does
A FASFA , is a document which gathers Financial info ,on you and/or your families income , in order to determine what kind aid you will need
To Qualify what kind of or any Federal Aid you are entitled to you must Complete a FASFA
Upon processing that financial data from you or your family , you will see what kinda aid is available to you , such as Grants , and Federal Loans
E.g. "Got approved for a 10,000 loan at 5.3%" . The main amount or Principal is 10,000 and the Interest is 5.3% a year
More info : http://studentaid.ed.gov/fafsa/filling-out
Here are a list of Universities outside of the Tri-state area that make claims to cover a majority of their cost
Ivy League is always a good option to apply towards since , They financial aids usually are made to help students stay on campus
With These elite Schools , that test scores are not necessary deal breakers , meaning people have got accepted before with low test score or low GPA
Prepare for the upcoming deadlines and Things that will happen ,
Namely FASFA opens up again for January 1st 2014 , sooner you complete the sooner you can receive federal student aid
pay attention for university deadlines to apply for admission
Online Checklist to help : http://studentaid.ed.gov/prepare-for-college/checklists/12th-grade
Other Colleges and Reminder for Deadlines
Q & A - Conclusion
Any Questions and Comments ?
Please ask away to me , I tried to make this as simple as possible
That's why i broke it down like this
Let me know if it helped ?
Also Please Talk to me after reading !!!
Full transcript