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Scholarship & Financial Aid Info, Tips & Hacks

Scholarship & Financial Aid INFO, TIPS &HACKS Financial assistance from a variety of sources is available to help students afford the cost of a college education, but acquiring those funds is an active pursuit. 100 This infographic is meant to help guide you through the creation of your own personal College Funding Plan. J00 EDUCATION FUNDING CATEGORIES Federal Student Loans Scholarships, Grants & Reimbursements Work Study Programs Expected Family Contribution {Additional money can be applied for at colleges, nonprofit and private organizations.} How FEDERAL AID Works The U.S. Department of Education's Office of Federal Student Aid offers $150 billion to 15 million Students each year, in the form of grants, scholarships, loans & work-study funds. Get help psying for college SCHOOL SCHOOL SCHOOL "A' Response & Offer "В" Response & Offer "С" Response & Offer 1. Apply at www.fafsa.ed.gov 2. Schools respond with offers & options What's the difference? Grants are free money available to students with a financial need & can come from federal or state gov't programs, individual colleges, or private organizations. A Scholarship is free money Federal Loans must be repaid - plus interest - after graduation, but they do have lower fixed interest rates & benefits that private loans do not have to offer. They may be consolidated, tax deductible or deferred, & may be forgiven based on certain types of employment. Federal grants/scholarships do not have to be repaid. available based on athletic ability, academic merit, or other achievements they must be applied for & most students qualify for multiple awards. HoW TO FIND SCHOLARSHIPS Scholarships are only offered to students who apply for them! It's up to YOU to find scholarships that you are eligible for, fill out the applications and fulfill whatever requirements are requested. Here are a few sources to consider during your funding search... Military & Civic Grps. Community Groups Religious Institutions Counsel Local Foundations Parent's Employer Newspapers Scholarship Directories College Aid Dept Professional Associations Local Teacher Businesses Your Coach Ethnic-based Employer Organizations Library And be sure to search Online too! Q Best Online Government Scholarship Sites Federal Student Aid Office: www.studentaid.ed.gov U.S. Department of Education: www.ed.gov U.S. Department of Labor: www.careerinfonet.org Department of Veterans Affairs: www.benefits.va.gov Top 10 Online Scholarship Search Services BigFuture.com Сappex.com Chegg.com Fastweb.com FindTuition.com Niche.com Petersons.com ScholarshipAmerica.org Scholarships.com Simple Tuition.com SCHOLARSHIP APPLICATION TIPS Start scholarship searches as early as 9th grade. Continue applying for funding even after you start college. Answer every question on search sites for more results. Apply to every scholarship for which you are eligible. Less competitive scholarship awards = fewer applicants. Scholarships that award less money = fewer applicants. Scholarships with long applications = fewer applicants. Never miss deadlines and always apply early. Read and follow the application instructions carefully. Answer every question on the application. Tailor your application to the scholarship sponsor. Carefully proofread for errors and omissions. Use a professional email address. Remove any inappropriate content from your social media. Make reference copies of all materials you submit. Send applications via certified mail to confirm delivery. Some Common Mistakes on Scholarship Applications Missing the application deadline. Not meeting the minimum requirements. Failing to follow application directions. Failing to follow essay length or topic. Leaving out required information. Leaving in mistakes/not proofreading. Exaggerating or lying on the application. Writing an essay that's boring/not original. FINANCIAL AId FACTS & FIGURES $46 billion $35 billion in scholarships are awarded by the U.S. Department. of Education and by colleges annually. in scholarships are awarded by private companies, foundations, and civic groups Only 2% of high school athletes Selection ratios of competitive versus less competitive type scholarships is significant receive any athletic scholarship... that equals $3billion 400:1-10:1 S.T.E.M. Majors 3256512 {Students with Science, Technology, Engineering, Mathematics program majors) Receive more scholarships and for higher amounts than others! Most Student Receive Some Type of Aid* 100 80 60 89% 89% 83% 90% 87* 76 1%76% 40 20 Private Nonprofit For-profit 4-year Private Public Private 4-year Nonprofit For-profit 2-year 2-year Private Public 4-year 2-year * Percentage of Students - First-time, full-time, degree-seeking undergraduate students - who received aid (2012-2013). Percentage of Students who Receive Funding {by Aid Type and Institution/Program Duration}* 81% 79% 74 76% 71% 62% 61% 56% 51% 44% 37* 38% 30% 38 34 33% 26% 27% 27 10% 13% 11 Private Nonprofit 4-year Private For-profit 4-year Public 4-year Private Nonprofit 2-year Private For-profit 2-year Public 2-year Federal Grants/ Scholarships State/Local Grants Institutional (School Grants) Student Loans * Percentage of Students - First-time, full-time, degree-seeking undergraduate students - who received aid (2012-2013). Student Loan Default Rates Declined in 2014... 25 21.8% For-profit institutions 19.1% National Default Rate 14.7% 13.0% 15 13.7 12.9% Private non-profit institutions 10 Public institutions 8.2% 7.2% 2013 2014 ..but, of Federal Loan Borrowers entering repayment in 2011 650,000 are now in Default! BEWARE OF SCHOLARSHIP SCAMS There are SCAMS! Here are some signs 100 Scholarship Scammers often "represent" either Search-services or even Scholarships themselves. Be suspicious of any Service that offers a money-back guarantee if you do not get a scholarship or if they require your banking, credit card or SSN information. Also, be leery of Services that claim knowledge of "Secret Scholarships" or if they claim to be the only ones with access to info. If they offer to apply, write essays & give references for you they're likely scams. Remember that legitimate scholarship awards will notify you in writing, won't claim to be first-come-first-served, won't call from/ask you to call 900 numbers and won't be from a source you didn't already contact/inquire about. A Few NOTABLE SCHOLARSHIPS VEt RIt THEA RHODES TRUST UNCF TAS MOWLSON RHODES U.N.C.F. Lady Anne Radcliffe Mowlson (1643) 1st college scholarship money was given to Harvard University - Est. in 1636- by Lady Mowlson. Cecil John Rhodes (1902) British businessman, & philanthropist founded the Rhodes Trust Scholarships upon his death. United Negro College Fund (1944) Founded April 25, 1944, by Frederick Patterson & Mary McLeod Bethune, for H.B.C.U. students in the South. TOP MO NEY SCHOLARSHIPS Corporate America & Top Foundations Pitch in. Many U.S. Corporations have established funding programs or foundations to ensure the continued success of our students and future world leaders. UNCF Miss America A mind is a terrible thing to waste SINCE 1921 Miss America Scholarship United Negro College Fund Provides $100 million to 60,000 scholars annually at 37 H.B.C.U. institutions in the U.S. Provides millions of dollars in scholarships to 15,000 women annually (though the exact amount is unclear). Awards 10,000 scholarships & internships in 400 programs to low & moderate income students. First scholarship awarded to Bess Meyerson, Miss America 1945. She used the $5,000 to pay for graduate studies at Julliard & Columbia University. Since 1944 has raised $4.5 billion to help 400,000 students get college degrees. Gates Millennium Scholars DELL Dell Scholars Program The Dell Scholars Program is an initiative of the Michael & Susan Dell Foundation Gates Millennium Scholars Provides annual scholarships to 1,000 recipients/year high-per- forming, low-income students. Applicants must be African- American, American Indian/ Alaska Native, Asian American/ Pacific Islander, or Hispanic American U.S. citizens. 300 scholarships of $20,000 awarded each year, totaling $6 million annually. Coca-Cola Davidson Institute Coca-Cola Foundation Davidson Fellows Scholarship Awarded $63 million to over Awarded $6.2 million to 266 top students 18 & under since 2001. 5,500 students since 1989. 150 scholarships of $20,000 awarded each year, totaling $3 million annually. Each student is awarded $50,000, $25,000, or $10,000 scholarships. Buick Achievers Scholarship Future Farmers of America Has given over $2 million in scholarships awarded annually to over 1,000 students. Awards 50 scholarships of $25,000 per year (up to $125,000) per recipient. In addition, 1,000 students receive one-time scholarships of $2,000 each year who are majoring in engineering, design, & business. Awarded $2.7 million in scholarships in 2015. 1 in 5 students who apply, will be awarded a scholarship. FAST FOOD SCHOLARSHIPS As a Major Employer of So Many Young People... ..the following Fast Food Corporations have created scholarship programs to assist (mainly employees) with funding for post-secondary education. Wendy's High School Heisman Program awards money to high-achieving student athletes in a wide range of sports, school, and community activities. Burger King Jim McLamore Burger King Scholars has awarded $22.6 million in scholarships since 2005 to employees, families & students in the U.S., Puerto Rico, & Canada. Chick-fil-A Provides $1.6 million McDonald's each year to employees, resulting in over $30 million given to 30,000 team members who attended 500 different schools. BURGER KING Wendy's Ronald McDonald House Charities have awarded $56 million in scholarships since 1985. Pizza Hut Pizza Hut Taco Bell Glen Bell Scholarship offers employees $2k awards. Since 2002, they've given $1 million to 500 students. TACO BELL The Yum! Andy Pearson Scholarship Program offers employees $2500 scholarships. Sources 1. https://studentaid.ed.gov/sa/types/grants-scholarships/finding-scholarships 2. https://www.edvisors.com/scholarships/win scholarsh ips/history 3. http://www.finaid.orgleducators/h istory.phtml 4. http://hulharvard.eduliblarchives/h1718/pages/highlights/highlight03.html 5. http://www.encyclopadia.com/topic/Cecillohn_Rhodes aspx 6. http:/www.usnews.com/education/slideshows/famous-rhodes-scholars/1 7. http:/people.howstuffworks.com/13-famous-rhodes-scholars htm#page=0 8. http://www.blackpast.org/aah/united-negro-colege-fund-1944 9. http://www.uncforg/sections/ForAlumniSS_FamousGraduates/FamousGraduates. asp . http:/www.thebestcolleges.org/the-10-biggest-scholarships-in-the-world/ 11. http://www.washingtonpost.com/locallducationhational-student-loan- default-rate declines-to-137-percent/2014/09/24ld280cBbc-43ee-1le4-b437- la7368204804 story.html 12. https://www.petersons.com/collegesearchicollege-scholarships-identifying-scams.aspr 13. https://nces.ed.govifastfactsidisplay.asp?id-31 14. http://college.usatoday.com/2012/01/3Othe-10-best-sites-to-look-for-scholarships/ 15. https://www.moneysavingpro.com/scholarships/ 16. http://www.scholarshipstats.comlaverage-per-athleta.htmi 17. http://www.cbsnews.com/news/B-things-you-should-know-about-sports-scholarships/ 18. https://weirdscholarships.netfast-food-scholarships-guidel 19. http:/freedesignfile.com/ (Creative Commons (Atribution 3.0) - Adapted ilustrations) 20. http://vecteazy.com/ (Graphic adapted from illustration by "carterart") 21. http://www.freepik.com [llustrations adapted from "Designed by Freepik") Research & infographic commissioned & published by bestcollegevalues For more info visit www.BestCollegeValues.com Infographic Cte by Dubs&Dash www.d2-group.com f 100 100 र्य %24 20

Scholarship & Financial Aid Info, Tips & Hacks

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There is a great deal of funding in play for students going to college. This Infographic helps sort out all the choices and possibilities.

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