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9/6/17FUNDING YOUREDUCATION WISELYPlanning Ahead Can Save You Time & MoneyINvestEdIndiana.orgPoor Choices Cost YouTime & MoneyINvestEdIndiana.org1
9/6/17Questions Will AriseINvestEdIndiana.orgWE’LL HELP YOU UNDERSTANDØ Value and Cost of Postsecondary EducationØ Choosing the Right Career & College for YouØ Types of Financial AidØ The FAFSAØ Understanding College CostsØ Impact of Social MediaØ We’ll HelpINvestEdIndiana.org2
9/6/17Value and Cost ofPostsecondary EducationINvestEdIndiana.orgThe Value of Higher EducationUnemploymentRate %7.4% 1,664 1,745 1,380MastersBachelors 1,156 819AssociatesSomeCollegeHigh SchoolLess thenHigh School 756 692 504Median WeeklyEarnings Source: Current Population Survey, U.S. Department of Labor, U.S. Bureau of Labor StatisticsINvestEdIndiana.org3
9/6/17Higher Education DebtØ 70% of college graduates havecollege-related debtØ Averages:ª Student loan debt 37,000ª Monthly payment 350Ø 50% are surprised by howmuch they oweØ Student loan debt is largerthan credit card debtINvestEdIndiana.orgChoosing the Right Career &College for YouINvestEdIndiana.org4
OrgINvestEdIndiana.org5
9/6/17MyNextMove.OrgØ Comparesalary info ona city or statearea versusnationalaverageØ Look for ways to gain experience:ª Volunteerª Job ShadowINvestEdIndiana.orgChoosing Your SchoolØ College Navigatorª Variety of searchcriteriaª Wealth of informationª Find options to fit youFor help and link visit:INvestEdIndiana.orgINvestEdIndiana.org6
9/6/17The Right ChoiceØ The key is finding a school that offers theright major AND is a good fit!ª Academicallyª Sociallyª FinanciallyØ Changing majors or schools may addª Extra time to complete degreeª Increased cost & student debtINvestEdIndiana.orgTypes of Financial AidINvestEdIndiana.org7
9/6/17Types of Financial AidØ Gift Aidª Scholarshipsª GrantsØ Self-Helpª Employment(Work Study)ª Loansª SavingsINvestEdIndiana.orgScholarshipsØ Colleges & Universitiesª Need Based vs. Merit BasedØ Local & Communityª Private Businessesª Community Foundationª Civic Organizationsª Church Groupsª School Counselorª Place of EmploymentØ FREE National Search SitesINvestEdIndiana.org8
9/6/17Scholarship TipsØ Get Organizedª Scholarship folderª Create “Brag” sheetª Sample essaysª Identify deadlinesª Balance timeØ Beware of scamsSpend time each weeksearching for Ø Five 1,000 scholarships will be givenª Must be 16 or older to enterINvestEdIndiana.org9
9/6/17GrantsØ Federalª Pell Grant (Max: 5,920)ª Supplemental Educational OpportunityGrant (SEOG) ( 100 - 4K)ª TEACH Grant ( 4K)Ø Stateª Evan Bayh 21st Century Scholarsª Frank O’Bannon GrantØ College or UniversityINvestEdIndiana.orgStudent EmploymentØ Benefitsª Earn money to pay for college& minimize student loansª Job and interview experienceª Build time management skillsØ Internshipsª Opportunity to gain experience,academic credit and possiblymoney80%Employers lookingfor internshipexperience8%Students lookingat the optionINvestEdIndiana.org10
9/6/17Education LoansØ Federal Direct Loan (4.45% 1.069 Fee)ª Subsidized or UnsubsidizedØ Federal Perkins Loan (5% No Fee)Ø Federal Parent Loan for UndergraduateStudents (7% 4.276 Fee)Ø Private Loan (Rates vary Typically No Fee)RememberLoans MUST Be Repaid!(Interest Rate for loans disbursed on or after 7/1/17, Loan Fees for loans disbursed between 10/1/16 – 9/30/17)INvestEdIndiana.orgSaving for CollegeINvestEdIndiana.org11
9/6/17College Planning ToolboxØ Free resource to help families:ª Find the Right College Fitª Save for Collegeª Plan their Financial Aid e Planning ToolboxØ Walks through key college planningsteps based on grade levelØ Cost, savings & aid projections basedon specific colleges or generalcategoriesØ Review college information snapshotsand save for use in financial centerØ Set reminders for key tasks to complete(test dates, scholarship deadlines, etc.)INvestEdIndiana.org12
9/6/17FAFSAINvestEdIndiana.orgThe Importance of the FAFSAØ Free Application for Federal Student AidØ Annual application for most forms offinancial aidØ Basis for determining eligibility for:ª Federal Funds (Grants, Scholarships, Loans andWork Study)ª State of Indiana (Grants and Scholarships)ª Potentially Institutional FundsØ Determines EFCINvestEdIndiana.org13
9/6/17What is EFC?Ø EFC Expected Family Contribution 5K 0 816 10KOR 7.5K 378Parent(s)Income & AssetsStudentIncome & Assets 85KAmount family canreasonably be expected tocontributeINvestEdIndiana.orgComparing College CostsINvestEdIndiana.org14
9/6/17Net Price CalculatorsCost of Attendance- Gift Aid Net Price **What you have to paythrough:ü Employmentü Savingsü Loansü ScholarshipsFor a link to any school’s net price calculator or theINvestEd Comparison Worksheet e 1Ø Sample datafrom anIndianapublicinstitutionØ Studentdemographicsª Middle/lowincomeª Aboveaverage GPA& test scoresINvestEdIndiana.org15
9/6/17Impact of Social MediaINvestEdIndiana.orgProfessional Online PresenceØ Appropriate email address:firstname.lastname@gmail.comØ Review social media accountsremovingª Inappropriate materialª Anything that may bemisinterpretedØ Be engaging andpersonalINvestEdIndiana.org16
9/6/17Professional Online PresenceØ Do social media decisions make a difference?INvestEdIndiana.orgEvaluation of Scholarship ApplicantsØ Scholarship providers indicated the followingabout reviewing an applicant’s onlinepresence:ª To determine whether the applicantdemonstrates good judgment (58%)ª To get to know the applicant better (42%)Ø Scholarship providers review of online contentª 25% of scholarship providers selected anapplicantª 33% denied an applicant a scholarshipSurvey of 300 National Scholarship Providers Association (NSPA) members who provide more than 1 Billion in scholarshipsINvestEdIndiana.org17
9/6/17We’ll dIndiana.org18
9/6/17INvestEd on Social MediaØ Facebookª Facebook.com/INvestEdIndianaØ Twitterª @INvestEdIndianaØ Othersª Instagram.com/INvestEdIndianaª nnect with us anytime!Robert estEdIndiana.org19
9/6/17 Education Loans Ø Federal Direct Loan (4.45% 1.069 Fee) ª Subsidized or Unsubsidized Ø Federal Perkins Loan (5% No Fee) Ø Federal Parent Loan for Undergraduate Students (7% 4.276 Fee) Ø Private Loan (Rates vary Typically No Fee) (Interest Rate for loans disbursed on or after 7/1/17, Loan Fees for loans disbursed between 10/1/ 16 - 9/30/17)
