Begin the
Financial Aid Process by sending in the Free Application for Federal Student
Aid (FAFSA) as soon as possible after January 1. This must be completed for
all four year and community colleges. This application determines your
eligibility for all federal grants and loans. The FAFSA forms will be
available in the guidance office in December or can be completed online at
www.fafsa.ed.gov. You
can also pick up
a FAFSA form at Caldwell County Public Library.
CSS/Financial
Aid PROFILE must be completed for selected universities. See your counselor
or www.collegeboard.com
for a list of schools requiring this profile.
NCAA
Clearinghouse: Student athletes needing NCAA Clearinghouse eligibility to
play college sports may apply online at
www.ncaaclearinghouse.net. Cost is $30.00.
Most
nationwide scholarship opportunities can be found using the Internet. Not all
sponsors send paper applications or notices to high schools. One excellent
resource is www.fastweb.com.
Another
source with links to national web searches is
www.CFNC.org.
Because
so much information is available on the Internet, you should NEVER have to pay
for a scholarship search.
Remember, each college has its own scholarships and/or work programs. Once
you know where you are applying, it’s very important that you learn each
school’s procedure.
FINANCING YOUR EDUCATION:
The College Foundation of North Carolina (CFNC)
can provide the necessary information in assisting you with your college
financing. Visit their website
www.CFNC.org or call 1-800-600-3453.
WHAT IS
FINANCIAL AID?
Financial aid is money that is given to
you so that you can pay for college and can be obtained by most students. The
federal government is the largest source, followed by the state government,
colleges, and private organizations.
GIFT-AID, GRANTS, AND SCHOLARSHIPS –
This is money that does not have to be
repaid. The federal government funds two of the largest grant programs, the
Pell Grant and the Federal Supplemental Educational Opportunity Grant. The
major state grants are the NC Student Incentive Grant, UNC Need-Based Grant,
the NC Community College Grant, the NC Legislative Grant, and NC State
Contractual Scholarship.
Pell Grants are up to $4,050 per
year that are given to students based on family financial need. This
money does NOT have to be paid back. Grant amounts can change each
year.
Federal Supplemental Educational Opportunity Grants are given to
students with exceptional financial need. This money does NOT have to
be paid back.
Federal Work-Study is awarded to
students who demonstrate need on their FAFSA, which you should submit in
January of your senior year. You may work up to 20 hours per week at
jobs available on or off campus.
Federal Stafford Loans are for undergraduate students who can borrow
from $2,625 to $10,500 per year depending on their financial need and grade
level. The interest rate on Stafford loans is capped at 8.25%.
Federal Plus Loans are for the
natural, adoptive or stepparents of dependent undergraduate students.
Parents can borrow up to the cost of their child's education minus other
financial aid awarded. Borrowers must undergo a credit analysis, and
repayment begins 60 days after the first disbursement. The interest rate
on PLUS loans is capped at 9%.
Federal Perkins Loans up to $3,000
per year for students with exceptional need. These loans carry a fixed
interest rate of 5%.
 | Put together a month-by-month calendar for the next
12 months that includes important admission and financial aid
deadlines. |
| Prepare! Prepare! Prepare! Get a
college prep guide from local library. |
| Start developing a list of extracurricular
activities for prospective colleges. |
| Keep your grades up! Your academic record is
now more important than ever. |
| Consider taking college prep or Advanced Placement
courses through which you can earn college credit. |
| Start planning your college visits. |
|
