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Let's talk financial aid!

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on 11 August 2017

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Transcript of Let's talk financial aid!

What does FAFSA stand for?
Financial Aid Equation
Types of Financial Aid
Gift Aid
Important Tips
Check your CCD email account
Let's talk financial aid!
Free application for Federal Student Aid
When to apply:
October 1st
Priority deadline for CCD:
April 15th
You can use your W-2s or end of the year paystub to estimate previous years income
Educational Opportunity Center: 303-352-TRIO
Check your CCDConnect account.
Apply early
Submit documentation required by the Financial Aid Office as soon as possible
(Cost of Attendance)
(Expected Family Contribution)
= Financial Need
Self-help aid
Grants - Free money
(Pell Grant/State and Federal Grants)
Scholarships - Free Money
Work-Study - Earned through work
Loans - Must pay back with interest, USE CAUTION!
What do scholarships mean to you?
Free money
Looks impressive on resumes
How to Receive a Scholarship
Well rounded students
Good G.P.A. (2.0 or higher)
Extracurricular Activities
Submit a Complete Application
Good Essays and Reference Letters
SAR, Transcript, Documentation, Etc...
Submit your application on time
Submit Thank You letters
Determine the resources your college offers
How to find Scholarships
Places to look:
Employer, Business, Religious Affiliation, Ethnicity, Experiences, GPA, Financial Need, Age, Gender, Military Status, Occupation, Area of Study, First Generation, Genealogy, High School, Immigration Status
Use Scholarship Search Engines!
Student Loans
Interest is NOT charged while student
is enrolled at least 1/2 time
Interest rate: 4.50% (fixed)
Effective July 1st
Subsidized eligibility is based on
financial need determined by
Interest is charged while in school and during grace period - every day
Unsubsidized is NOT based on
financial need as determined by
When the interest is not paid during college, it is accrued and added to the principal balance
Original Amount: $10,000
Interest: 6.8%
Daily accrual: $1.68
Interest accrued over 1 year: $613.20
Loan Limits
Yearly Limits
Dependent Undergraduate

Independent Undergraduate
Total Subsidized and Unsubsidized
Loan Changes
Subsidize loans may be borrowed for up to 150% of their degree or certificate program
Students will still be able to request unsubsidized loans
2-Year Associate's Degree
1-Year Certificate Program
3 Years of subsidized loan eligibility
1.5 Years of subsidized loan
what does it look like if i borrow the lifetime maximum??
Total Loan Debt
Monthly Payment
Total Interest Paid
Total Repayment
What is Your Loan Debt
To find out what your current loan debt is, visit www.nslds.ed.gov
To get on the site you will need your SSN and the PIN you used to sign the FAFSA
Repayment... Already?
Grace Period:
Your grace period is 6 months
You only get ONE grace period
You enter your grace period when:
Your enrollment falls below half time (6 credits)
You withdraw from all of your courses
When you graduate
You must complete Exit Counseling!!
Begins the day your grace period ends
First payment is due within 30 days
All of your payments will go to your loan servicer
repayment plans
There are many repayment plans to help students repay their student loans:
Standard Repayment
Graduated Repayment
Extended (Fixed) Repayment
Extended (Graduated) Repayment
Income-Based Repayment
Income-Contingent Repayment
Pay As You Earn
Public Service Loan Forgiveness:
Public Servant
What if i can't pay anything?
Contact your loan servicer listed on www.nslds.ed.gov
Many servicers provide alternative repayment methods like:
-i.e. Military deployment, enrollment into an eligible post-secondary school, unable to find full time employment -
no interest!!
-i.e. If a deferment does not suit your situation, financial hardship or illness -
your repayment plan
Delinquency and default
Delinquency happens when your loan repayments are not received on the scheduled due date
Loans enter default once they are 270 days or more delinquent
Borrowers that are in default face extremely serious consequences including:
Wage garnishment, including income tax refunds
Late fees, additional interest, collection fees, court costs, or other costs become immediately due to the federal government
Legal action taken against you
How to Avoid Default
on time
loan payments
exit counseling
Keep in contact with your servicer
Make monthly interest payments
Call your servicer
if you cannot make a payment
Keeping your financial aid
Satisfactory Academic Progress:
have an overall G.P.A. of at least 2.0
successfully complete at least 67% of the credits you attempt
successfully complete at least 1 class every semester you attend
If you do not meet this criteria, you could become ineligible for financial aid
measurable academic progress
Lifetime Limits
Dependent Undergraduate
Independent Undergraduate
You lose deferment options
The entire unpaid balance and accrued interest becomes due immediately
Your account maybe assigned to a collection agency
You lose eligibility for all financial aid at any school
You must complete your degree or certificate within 150% of the number of credits required to graduate
You will receive an alert once you have attempted 110%
This happens most to students who:
Switch majors (
meet with an advisor every semester!
Withdraw or fail classes frequently
Pursue multiple degrees/certificates
Workshops through the Resource Center - couponing, budgeting, credit, financial aid 101
Repayment estimator -
the choices you make today will determine your life tomorrow
All loan information, including servicer info -

Less (hopefully none!) loans
Great addition to any college application
Your current college of choice a great source for scholarship opportunities
Volunteer work looks great
Scholarships at
How to apply
Scholarships are open now for the 2015-16 aid year!
Submit your application before April 15th to meet CCD's priority deadline

Before you even apply for a scholarship you have to make sure that you're meeting certain minimum requirements
Most scholarships offered by CCD ask that you:
•Demonstrate financial need by submitting the Free Application for Federal Student Aid (FAFSA)
•Be enrolled in a degree or certificate program at CCD
•Be enrolled in a minimum of six (6) credits
•Maintain a 2.0 GPA
•Meet Satisfactory Academic Progress (SAP) at CCD
Submitting your application by this date ensures your application will be one of the first to be looked at, giving you a higher chance at being awarded.
How Aid Works
Financial aid pays into your balance of tuition/fees 2 weeks after classes start.
At CCD you will need to make sure that you have enough financial aid to cover the cost of your tuition/fees
That you have setup a payment plan with the cashiers office
The payment deadline (usually one week before classes) or risk being dropped for non-payment.
A book advance
- given to you as early as the week before classes start. Which you can use to purchase your books and supplies.

Any funds left over after your book advance has been disbursed will be returned to you as a refund.
All students receive a HigherOne bank account and debit card after registering for classes.
The Pell Grant will only pay for 24 credit hours in one school year, and the Colorado Student Grant is never guaranteed to be available to use during the Summer Semester.
You will need to BUDGET your refund or utilize some of your available student loans if you plan on taking summer classes!!!!
1. Visit :www.ccd.edu/scholarships
2. Create a profile on Academic works
3. Complete the CCD General Scholarship application
4. Apply for any additional scholarships!
This one application will enter you into every scholarship you are eligible for, meaning you could be entered into 5,6, maybe even 7 different scholarships by filling out this one application!
There may be some extra scholarships you may qualify for under "Recommended Opportunities" on your academic works.
You will need to submit a separate application and may be asked to provide additional information for these scholarships.
Check you student email!!
The business of student loans
Student loans are a tool that you can use to help fund your education
Student loans are also big business, one that capitalizes on the steadily increasing tuition and fees students are expected to pay for college.
Guess the average $$ amount increase in student loan debt between years
Out of 10 students that graduate, how many graduate w/ debt?
Average student loan debt for 4 year colleges =
At CCD the average student loan debt is =
(12 zeroes!!)
third party scholarships
Private scholarships are a great way to earn some extra FREE money for college!
Many have similar requirements to CCD's general application
Private scholarships can be found all over. Try looking:
local religious groups/community
your employer
local/national organizations
your current college/university
Or you can use a scholarship search engine!
scholarship search engine
Scholarship search engines are extremely helpful when searching for third party/private scholarships.
These services are free for students and helps you determine which private scholarships you are eligible to receive.
On these websites you will create a profile by answering a series of questions. Be prepared to provide personal information such like your field of study and future colleges you would like to attend.
After creating your profile the website will provide you with a list of scholarships. Everything you see you can apply for and receive!!
Remember that you can use your CCD scholarship essay to apply to private scholarships!!
If you need help don't forget our scholarship walk-in hours!!
Refunds are intended to last the entire semester
Borrowers that are in default face extremely serious consequences including:
MONEY YOU EARN!! A smart way to earn extra cash. Positions are available campus wide and look great on your resume.
Keep in mind you must be enrolled in at
LEAST 6 credit
hours to qualify for work-study.
Work between 10-20 hours a week
Gain relevant work experience
Flexible schedule with employer
Great way to explore resources and meet new people
Grants are based off of the information provided on your FAFSA.
Award amount is based on how many CREDIT hours you are taking.
Automatically accepted, no action needed by you.
Do well in class and the funds are yours to keep!
What drives you to want to go to college?
That reason is your drive, your passion
Understand why. Make it important to others too.
What have you had to overcome?
This is your strength.
Every obstacle you've overcome SHOWS your strength and determination.
THIS is what we want to hear!
CCD's Scholarship Questions
1. Why is getting an education important to you?
(your drive, your passion)
2. What are your long and short term educational goals?
(what brought you here and where do you want to go)
3. What makes you unique?
(obstacles that you've overcome)
4. How will a scholarship help you each your goals?
5. Why do YOU deserve a scholarship?
6. In three sentences, tell us something
unique about yourself.
1. Why is getting an education important to you?

I want to get a degree because_________________.

I want to work with/help_____________________.
Essay Writing 101
I want to get my Bachelor's in English because I want to travel the world and teach English overseas as a foreign language.

I want to work with children from all different cultures understand that language can be a key to success.

What are your short and long term goals?

What are your short term goals?

This semester, I am __________________________________________.

Here is what I am doing: ______________________________________.

This semester I am working hard to pass all of my classes with a 3.5 minimum G.P.A.

I am visiting the writing and math labs to get help from the tutors and spending an extra hour in the library every week.
What are your short and long term goals?
In the long run, I see myself _____________________________.

The result of my goal:
When I __________, then __________________.
In the long run I see myself sitting in a classroom on the other side of the world bringing the opportunity of language to my students.

When these students see that I've traveled across the world to teach, they will know that they can achieve whatever their passions are too.
What are your long term goals?
How will a scholarship help?

3. How will a scholarship help you reach your goals?

This scholarship will make it possible for me to____________________.

Without this scholarship I would not be able to___________________.
This scholarship will show potential colleges and employers how passionate I am about the things I want to achieve.

Without this scholarship, I would have to work twice as hard to show how committed I am when I put my mind to it.
What makes you unique?
4. What makes you unique?

Describe who you are:
I am______________

Describe what you’re doing: I am______________________
I am a first generation student committed to teaching passionate students that something as commonplace as language can change history.
I am currently working on learning Mandarin and Korean so that I can communicate clearly and concisely with my students.
Why do you deserve a scholarship?
5. Why do you deserve a scholarship?

I deserve this scholarship because_____________________________.

A scholarship will make my dream of __________________ become a reality!
I deserve a scholarship because language shouldn't be a privilege, and I want to give that gift of language to anyone who is passionate.

A Scholarship will make my dream of teaching and traveling the world become a reality!
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