2009 Financial Aid Seminar Presented by MOREHOUSE COLLEGE

2009 Financial Aid Seminar Presented by: MOREHOUSE COLLEGE UPWARD BOUND MATH/SCIENCE PROGRAM Maynard Evans High School Orlando, FL

College Expenses covered by Financial Aid l Tuition & Fees l Room & Board l l l Transportation Books and Supplies Personal Expenses

SOURCES OF FINANCIAL AID l FEDERAL GOVERNMENT l STATE AID l INSTITUTIONAL AID l PRIVATE ORGANIZATIONS

FEDERAL STUDENT AID PROGRAMS l l PELL GRANT SEOG LOANS WORK-STUDY

PELL GRANT l FREE MONEY PROGRAM l FEDERALLY BASED $5350 (2009 - 2010 Award) l

SEOG SUPPLEMENTAL EDUCATIONAL OPPORTUNITUY GRANT l l l FREE MONEY CAMPUS BASED ELIGIBILITY BASED ON • EXPECTED FAMILY CONTRIBUTION (EFC) • COST OF ATTENDANCE • ENROLLMENT STATUS l MAXIMUM AMOUNT VARIES • RANGE: $100 - 4000

FEDERAL STAFFORD LOAN CLASS DEPENDENT (SUBSIDIZED) INDEPENDENT (SUBSIDIZED) FRESHMAN $5, 500 ($3, 500) $9, 500 ($3, 500) SOPHOMORE $6, 500 ($4, 500) $10, 500 ($4, 500) JUNIOR $7, 500 ($5, 500) $12, 500 ($5, 500) SENIOR $7, 500 ($5, 500) $12, 500 ($5, 500)

FEDERAL PLUS LOAN PARENTS CAN BORROW UP TO THE COST OF EDUCATION MINUS OTHER FINANCIAL AID l FIXED INTEREST RATE OF 7. 90% l ALSO MUST PAY A DISBURSEMENT FEE (up to 4%) l

FEDERAL PLUS LOAN l l REPAYMENT OPTIONS: • 60 days after full disbursement • Six months after enrollee drops below half time enrollment COMPLETE FEDERAL PLUS LOAN APPLICATION AND SUBMIT TO THE FINANCIAL AID OFFICE

PERKINS STUDENT LOAN l DESIGNED TO MAKE LOWINTEREST (5%), LONG-TERM LOANS DIRECTLY TO STUDENTS IN NEED

COLLEGE WORK / STUDY FEDERAL GOVERNMENT PAYS A PERCENTAGE OF THE WAGES FOR STUDENTS WHO WORK PART-TIME NOTE: Student’s responsibility to find employment.

STATE STUDENT AID PROGRAMS l. Georgia Equalization Grant l. HOPE Scholarship

STATE AID l l l l HOPE SCHOLARSHIP GA TUITION EQUALIZATION GRANT PROGRAM GOVERNOR'S SCHOLARSHIP REGULATIONS LAW ENFORCEMENT PERSONNEL DEPENDENTS GRANT PROGRAM REGULATIONS LEVERAGING EDUCATIONAL ASSISTANCE PARTNERSHIP PROGRAM GRANT NORTH GEORGIA COLLEGE AND STATE UNIVERSITY R. O. T. C. GRANT PUBLIC SAFETY MEMORIAL GRANT PROGRAM

INSTITUTIONAL AID VARIES Institutional Scholarships process usually begins with the completion of the application process.

HOW DO YOU OBTAIN FEDERAL OR INSTITUTIONAL AID? FAFSA Financial Aid Office Other Agencies

FAFSA (Paper Application) Avoid Common Errors l Do not leave questions or fields blank l Read instructions l Double-check answers for accuracy l Sign the form (parent and student) l Make sure all information is legible, pay close attention to numbers (SS, school code & dollar amounts)

FAFSA On the WEB Online Registration http: //www. fafsa. ed. gov l Results in 7 to 14 days l State and / or school aid l Completely secure l

USING YOUR PIN l l Make application correction online File a renewal application View loans and grants information Sign your electronic application

FOR MORE INFORMATION l. Online help at www. fafsa. ed. gov l. Call 1 -800 -4 -FED-AID (1 -800 -433 -3243) l. Contact the school guidance department l. See Mr. Thomas Danley, ETS Counselor