| Financial Aid All
About Financial Aid and Scholarships |
What are the different types of financial aid?
There are three basic types of financial aid:
- Need Based Grants: Beginning
in January of their senior year, students and parents should complete the
Free Application for Federal
Student Aid
(FAFSA). Based on information
provided in the FAFSA, students may qualify for grants from the federal government
due to demonstrated financial need. The most well known of these is the Pell
Grant. Grants are gifts and do not have to be repaid. The FAFSA should be
submitted whether
the parents/sudents
believe
they qualify for aid or not. Many scholarship programs require information
form the FAFSA.
- Loans: Education
loans for students and parents have low, capped interest rates and the
payback period is extended to make the loans manageable. There
are three basic types:
- Stafford Subsidized Loans: Based on information provided by the FAFSA,
students may qualify for subsidized loans. These loans are need based.
The federal government pays a portion of the interest rate on these loans.
The funds are loaned to the students, not parents. Repayment does not
begin until the student leaves school.
- Stafford Unsubsidized Loans: Sudents whose financial situation does
not qualify them for subsidized may apply for unsubsidized loans. Repayment
does not begin until the student leaves school. The program works like
the subsidized loans, except the interest rate is
higher.
- PLUS Parent Loans: Parents may apply for PLUS loans to help pay for
their child's education. The interest rate is higher than the Stafford
loans, but the variable interest rate is capped at 9%. Parents must qualify
for these loans based on their credit history. PLUS loan repayments begin
immediately, though it is possible to apply to defer payments until students
leave school.
- Scholarships: Scholarships are generally
awarded for students who have demonstrated high achievement in some area
such as academics, athletics,
fine arts, etc. Hundreds of thousands of scholarships are available, but
each is highly competitive. To earn scholarships, students usually must be
truly outstanding. While most scholarships cannot be applied for until the
senior year, parents and students should begin researching scholarships at
least by the ninth grade in order to be as competitive as possible when the
time comes to apply. A first step would be to read the scholarship
tips from Woodburn Press.
What should I do to receive
scholarships/financial aid and when do I start?
The key to successfully receiving financial aid is to start early and follow
certain steps:
- Become familiar with the financial aid process at least
by the ninth grade. If you begin as a junior or senior, it may be too late
to do things that will make you as competitive as possible for scholarships.
Read the scholarship information available on PantherHelp and elsewhere so
you will be prepared when the time comes to apply.
- Scholarship competition is keen. While there are hundreds
of thousands of scholarships available, there are many more outstanding students
than there are scholarships. In addition to making excellent grades, you should
separate yourself from others by being active in extracurricular activities
and attempting to be in leadership positions as often as possible.
- Use the resources JCCHS provides to keep track
of your activities and interests throughout high school. For example,
view the scholarships
that have been sent to the JCCHS/EJCHS counseling offices. Begin
keeping a portfolio at gaCollege411
as soon as possible. Look at the scholarship and financial aid
information in GCIS. Contact
us to recieve the user name and password you must have to
access GCIS.
- Students should make full use of Georgia's college planning website, Georgia
College 411. This is an extremely comprehensive website for college planning
and funding.
- By the end of your junior year, have a list of scholarships
you are interested in ready so that applications will be mailed well before
deadlines.
- Be ready to complete your FAFSA as soon as possible beginning
in January of your senior year. To do so, you must have income tax information
from the previous year for both the student and parent. The FAFSA paper forms
are usually available in the counseling office beginning in December, or
you may complete the FAFSA online.
What do I need to know to avoid being ripped off in a scholarship scam?
Each year, JCCHS counselors hear about parents who give thousands of dollars
to organizations that claim to find scholarships for students. It is not necessary
to spend money to find scholaships. We urge you to read information
on scholarship scams from the Federal Trade Commission. The following are some
guidelines provided by the FTC:
Unfortunately, in their efforts to pay the bills, many students and their
families are falling prey to scholarship scams. The FTC cautions students to
look for tell tale lines:
"The scholarship is guaranteed or your money
back."
" You can't get this information anywhere else."
" I just need your credit card or bank account number to hold this scholarship."
" We'll do all the work."
" The scholarship will cost some money."
"
You've been selected by a 'national foundation' to receive a scholarship" or "You're
a finalist" in a contest you never entered.
While there are some legitimate services that provide information
for scholarships for a fee, all information such services provide can be found
for free with a little
time and effort by students and parents. If you are ever tempted to spend money
on scholarship services, do not do so until you have talked to a JCCHS counselor.
Do you have any tips for winning
scholarships?
The counseling department has print information available for parents and
students in our offices. One of the most helpful is from Woodburn Press. We
have obtained permission to reprint its tips for winning scholarships:
From:
"An Instruction Booklet for the Parents of College Bound Students"
(Used by Permission)
Woodburn Press
P.O. Box 153
Dayton, OH 45409
www.woodburnpress.com
(Copies are available in the JCCHS Counseling Office)
You have probably heard people say that there are "millions of scholarship
dollars that go unclaimed each year." You have probably also talked to parents
who have told you that their son or daughter was an outstanding student and
could not get a scholarship.
The fact is, there are thousands of scholarships; however, most of these
scholarships have very specific eligibility criteria (e.g. a student must go
to XYZ college, be in the top 5% of his/her class, and have an ACT score of
at least 28 [SAT - 1350], or a student must belong to a particular ethnic group,
race, or religion, have overcome a great obstacle, have outstanding leadership
ability, a specific major, etc.)
When it comes to academic scholarships, students generally must have an outstanding
GPA (3.5 or better), high test scores (ACT 27+ SAT 1200+), excellent recommendations,
and be involved in extracurricular and/or community activities. To receive
an athletic or talent scholarship, a student must truly be outstanding.
Even though it is not easy to obtain academic or talent scholarships, students
and parents who are willing to invest the time and energy may find that their
efforts pay off handsomely. When looking for scholarships, keep the following
in mind:
- Start early. Begin looking into possibilities during the junior year. Be
ready to locate and complete applications early in the senior year.
- Finding and applying for scholarships takes time, energy, and persistence.
- The larger scholarships are usually awarded by the college the student
plans to attend. Contact the college's financial aid office to learn about
any scholarships they may offer.
- Private colleges are more often more generous when awarding scholarships,
thus making them competitive in price with public schools.
- Apply for local scholarships. These are generally for smaller amounts (i.e.
$100 - $1000), however, since the competition is not as great, they are usually
easier to obtain.
- Be aware of deadlines. Scholarship applications become available throughout
a student's senior year and are sometimes due only weeks after being publicized.
- Network. Tell everyone that you are looking for scholarships. Check for
scholarship opportunites with your place of employment, your church, organizations
to which you belong, etc. Also look for scholarship opportunities in local
newspapers.
- The Internet has a great deal of information on scholarship opportunities.
You can also find books and computer programs listing scholarship opportunities
in your counseling office and local library.
- Applying for scholarships can be frustrating. You may not get a response
when you write to an address. If you do get a response, you may find that
the deadline has passed, there is no longer funding for the scholarship,
etc. [Don't be discouraged. Keep trying.]
- Be organized. Make sure teachers and counselors are given plenty of time
to prepare letters of recommendations and transcripts. be aware of deadlines!!
- Students who cannot get scholarships often can get need based financial
aid. Pursue all financial aid opportunites.
- You will have a better chance of being awarded a scholarship at a college
or university if you are in the top 25% in rank in class.
- Always check to see if financial aid and scholarship awards are renewable.
- Scholarship searches that charge a fee are very seldom worth the money
and many are scams.
What are some websites to help
me with
scholarships/financial aid?
The Internet is filled with sites to help with financial aid and scholarships.
Some are very good and so are not so good. The following have good reputations
among financial aid experts:
What does Georgia's
HOPE scholarship pay for and what do I have to do to receive it?
Georgia's HOPE scholarship pays for tuition and mandatory fees at Georgia
public colleges and $3000 toward tuition at approved Georgia private colleges.
See PantherHelp's web page that tells you all about the HOPE scholarship.
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