Session 2: Buried Treasure: Hidden Gems of Financial Aid

Oh God Alright, 6 seconds.

OK, we're going to go ahead and get started. Thank you for joining us today for rising senior day and the segment on financial aid. My name is Jennifer Gallagher, an I'm the director of financial aid at Washington College and joining me today is Ernica Webster, who is an associate director in our office in the counselor for incoming students. We are happy to be here with you today. We're first going to go through a brief presentation.

Hopefully leaving time at the end for your questions and answers, you may enter your question at anytime in the box, but if we aren't able to get to your question by the end of our time together we will be collecting all questions and will be happy to reach out to you directly. I just want to mention this since we're bringing this to you from our homes and we're expecting a storm here in the Eastern Shore. We are hopeful that our Wi-Fi connections will remain stable. I'm now going to turn it over to arnica.

Thank you, Jennifer, and thank you for that introduction. Good morning everyone. I want to thank you again for taking your time this morning. We just hop out the other session so I'm going to try to get through this session and leave a lot of time for Q&A 'cause I know a lot of times on people have questions that they want to ask at the end. So door my presentation today I'm pretty much gonna go through.

The process of you know, filling out the fast food was required was needed. Uhm and then I could say. And then we'll talk about scholarship opportunities for you to start looking into. Now we all know a college education is a significant investment made by the student in our families and applying for financial aid is free. And it's a simple way to bridge the gap between the cost of attendance and your student resources that they may already have. Washington College strongly encourage our students to complete the fast love regardless of what circumstance.

Because a lot of times they think they don't qualify for something and you may qualify for certain types of financial aid. So my goal today is to introduce you to the process of planning for the fat fastest. Give me financial aid.

Explaining the free application for federal student aid, which is the fasfa an help you look for avenues. Like I said a spore Ave as far as private scholarship opportunities.

So when you complete the fastball, all institutions use the faster to determine what types of aid you could qualify for. Easiest intuition is different. Each institution has their own formula as to say would you could possibly get, but depending on the outcome of your fasfa in your FC, you're expected family contribution number. Remember that because that'll be handy, you'll hear it out a lot. You may qualify for these types of aid. First type of age you could qualify for is your federal aid.

Federal aid can range from your federal Pell Grant.

Then we have federal supplemental educational opportunity grant, also known as SCOG, is the Supplemental Grant and a lot of times if you qualify for the Pell, you could possibly qualify for the FG grant. But again, each institution is different, so they have a different way of determining who can receive it. But we usually here at Washington College Give it to our media students and then you have your federal work study program, photo work study program is an opportunity for you to get a job on or off campus and get paid.

So if you qualify for work study, that's another opportunity with federal aid you could get and then you have your federal direct student loans every sooner that apply for a fasfa usually have opportunity to get either a federal subsidized loan or unsubsidized loan, depending on the TLC like I talk about to subsidized based on your need, and then you have institutional fund them.

Institutional depends on what the institution you applying for. You could get academic merit here. It works in college. We offer academic merit scholarships which range from 18,000 and 30,000 and we base it off of your high school GPA essay Tees and then we also could possibly offer you need based grant funding. But again, that's all German off of your fasten your FC number. Look into these two different things as far as your institutional funding. Again, it depends on what institution you qualify.

Let me see me applying for to determine which funding you call by 4 and then you have state grant depending on what state you're applying to. Different state Merlin Merlin Higher Education they have state grants and scholarships that you can also get just for being enrollment student. So look into state grants as well. It's gonna scholarships and other things you could possibly qualify for.

So I wanted to show you the homepage for fasfa OK, get familiar with this. This is where everything starts. Fast is a free application. If you're on a website that's asking you to pay to do a fasfa get off of it because it's never a fee, so make sure you don't fall for those of fraud fam or scams. Give me websites that try to get you to pay for fast food because it's free and this is what the fast food website look at.

Looks like it's FAFS a.gov OK and right here was it. Start here. That's where you will begin at the new student. OK, if you have a sibling S already in college, your parents may already be familiar with Fasfa, but if not, this is what it looks like and become real familiar with it, OK?

Again, faster application is free every sooner who wishes to apply for federal aid must complete a faster and do it each year. So and will talk about their lines little later, but Fassel needs complete be completed each year because circumstances change from year to Year. This year we didn't even know we were going to have to deal with the whole covert thing, so that's the circumstances out of our control which could change your financial circumstances. So that's why it's important to complete the faster each year.

An most who's used the faculty determine institutional state aid that you could possibly get.

So what is needed when you complete the fasfa number? One thing that is needed is the FSA ID. OK, right? Here is a link to go on to read more about your FSA ID. I also have a handy YouTube video here that does federal government Department education. Excuse me put out. What are some real handy of video for you to Reese? Gimme listen to excuse me so I can give you more details about the FSA ID.

But the FSA ID is at your electronic signature, and you'll need your FSA ID for the next four years, even if you go into Graduate School. You're applying for Tesla, you seem still need that FSA ID. You need a FSA ID for both the student and the parent. OK, so make sure you remember that when you're doing it, make sure the student does their part, the club. Create a FSA ID and then the parent when you go on to create your FSA ID, you'll need your name, date of birth, social.

Address is also going to ask you to verify your email in your mobile number is going to ask you to create some security questions in case you have arbitrary where you get locked out, you gonna need to answer those questions security questions in order to get your password reset and everything. So make sure when you create in the FCC ID you keep it handy. You will need this again to log into the faster and to sign the faster it will talk more about that too as well.

So how do you complete a faster? It's really easy. I know a lot of people have heard horror stories about the fasola. It is user friendly now and you can actually use it on your mobile phone. Is real real handy now? Also they have a really neat helpful hint box on the left hand side and they have a chat box. So during anytime when you're completing the faster you're not sure what supposed to be in that section. Make sure you reach out to the helpful hint box and also you can chat with someone.

To get help when you decided to now complete the Fasa, make sure you gather your personal information in your financial information. I always sell families. If you have the opportunity and it gives you the opportunity to do the data retrieval option, please do that. The data retrieval option is an opportunity for your tax documents. Give me tax information to feed directly into the fast food. What happens is it to take you out to the IRS website. You answer your personal information tax information of how you filed.

And then it will transmit your information right back into the faster that alleviates any errors and then it gives you the opportunity to make sure you're putting in the right information. You need your FSA ID again to sign the faster.

So when you wanna Fasa is important to make sure you know which sections you're you're on, you have three sections of the Facile OK, an I say that because a lot of times will get it weird student will put parent information and the parents section and vice versa. I mean student section and vice versa. It's OK, it happens, but to avoid delays, make sure you reading everything carefully and make sure you know which section you on. So your first section of the Fasa is personal information. You as the student, your personal information.

What has been your attendant? Do you want to apply for work study that actually that if you qualify four and then it will go into your fat? Your financial information? Did you file taxes? Did you work at also to ask for a student personal information? Then student financial information? And then Lastly tax for your parental information, your parents marital status, your parents personal information? How many people are in the household? How many people are in college and then it asks for your parents financial information.

So pay attention to what section you ram and then you can list up attend schools at a time and I say list in regards if you apply for more been accepted that say if you time in the end say for instance. Oh Man, I had 15 schools that I wanted 5 four no worries you can go back, make a correction, add the other, take five schools often, add the five new schools. Once you're fast, was completed and sent to. That's cool. You remove a school they still wanna.

So here information is still nowhere. I said that, and here again is another on YouTube link to talk more about the fasfa. So go back this weapon or be available for you as well. But you can always go to this link to listen in to get more information about how to complete the faster.

So special note, if you're going into you senior now. This fall you can submit your faster as early as October 1, only four months away. October things so far, but it had come so quick. So get your information together. I'm sure your parents or you have already completed to 2019 tax information. That's what you'll need to do. The faster for 2122 years so that information.

You can start applying October 1 and like I said deadlines. So for us at Washington College we use the Maryland deadline which is March 1st. Is the state deadline and a lot of opportunities as far as getting the work. Setting SCOG we use that priority deadline, so make sure whatever institution you're applying for you know that deadlines you notice they deadlines and make sure you can just ask them by then.

So reasons to complete the Fasfa If you want to apply or be offered the those student direct student loans, you have to complete the faster. If your parents want to apply for a parent plus loan, you have to have a fast for again a lot of students don't want to complete the faster because they think it's too complicated or they don't qualify for anything, but you never know if you don't apply, it's not going to hurt. You may take 1520 minutes to complete the Fasfa.

But you may qualify for some financial way that you didn't even think you would before, so it doesn't hurt innisfree. And then like I said before, it's a great opportunity to take care of. Take advantage of the data retrieval option. Put the tax information 'cause I said the difficult part. I think most families have is making sure they put in the tax information incorrectly use that IRS data retrieval option that saves you time is safe, you errors.

Another reason is most schools and state agencies, like I said before, publish their deadlines, but they use the fasfa an you have to have it in bottles deadline so make sure you take note of the deadlines for the state agencies and for every school that you decide to apply for user because I know you're on your phone all the time so use your phone to put in those reminders of dates, important dates and we'll talk about that too. At the end as well.

So some suggestions. Again, I'm going to home annoyed reading it carefully because if you put something incorrectly on your fast for that institution you apply to may receive it, but it's going to be delayed because then they're going to come back and say, Oh you completed the fast Lane correctly. You have to go back on to make changes and things like that, so make sure you re each question carefully. And again, I said you can listen schools, but you can always go back and delete and add another one and make sure both.

The student and parent signs the facile using your FSA ID. That's important because it will allow you to submit your faster without signing it, but once you're a financial aid office received your fasfa, they're not going to be able to process it because they're not gonna be able to get that EMC number to determine what financial way you qualify for unless you have that signature. That signature is a way to officially sign in. Process your fasfa, so make sure is sign OK.

So you've done all that. You completed, the faster went through that process finally got through that. So what's next? Fast food this process? So using it takes about three to five business days for your faster to get processed and all the foods that you listed on your fast food will get a notification that fast. With my process. You will also get a report, they call it the student aid report. Short for sores, you will get a report that will list everything that you put on your fasfa an it also had that FC number I talked about before.

So you will get a report. Look over that report, make sure OK, double check that I did everything correctly and then once the institutions you apply to received your fasa application they will review it and determine how much aid or what age you qualify for it. So then once they do that, you will receive an offer letter. Once you receive that offer letter from all your institutions. At that time you have opportunity to compare what Washington colors are for you, what the other institution offered you in comparing help you determine.

You know your college, decisional where you need to go based off of not only how much they offer you, but the value of the institution as well. Also, like I said, complete the fast for yearly. Once you become a college student your sophomore year, October 1 again is an opportunity for you to do your fastball over again once you become a student. Your financial aid will remind you, hey, it's time to complete the faster by October 1 is the opening date for the fast food again.

Another YouTube video for you going to get more information.

OK scholarships OK, I get the scholarships and I can hear you high school soon as that oh, another scholarship. Another essay. I have to write, but let me tell you, writing essays can be worth it. A lot of organizations they award you scholarships based off of your academic talents, your artistic abilities, an athletic abilities, each organization that offers scholarships may look for different things. So a lot of times you can write one or two good essays and tweak it depending on what the organization is.

Asking for I have a couple of search engines here that you can jot down that you can research scholarship opportunities, but now is the time for a plot. Now is the time to research now's the time to really get that crap work on your essay. So when the opportunity comes you can start applying your high school guidance office and your high school guidance counselor will be a best friend. Senior year when it comes to scholarships, alot of high schools counselors will have a list of different local scholarships that you can apply for it.

So make sure you take advantage of that. Your parents workplace may have scholarship opportunities, so make sure you look into that as well. Um, different businesses like McDonald's and Starbucks have opportunities for scholarships and your local organizations like a VFW, your Lions, clubs in your, your Rotary clubs look into all those organizations to see about scholarship opportunities. Alot of time, a lot of scholarships go awarded Unawarded because lot sooner don't wanna fight 'cause they don't think that they'll get it. But last year we had a student come in with like five or six different scholarship opportunities.

In 500 year 500, they're all that helps mom and dad cut down that calls when it comes to your intuition and some scholarships, or what did you for book money. So who doesn't want free money to help you pay for books so it may be worth crafting your essays now so when that time frame comes, you can then apply for those scholarships.

So I just want to go with some clothes into it and some we already talked about, but I want to go over it again because I really important. I know your senior year is like the year you wanna lay back kick back. I've done all my hard work those three years. This is my senior year, my last year out of here I wanna relax, relax but stay organizing your senior year when you start applying for institutions you're gonna get information in the Mail from institution after institution. Keep him organized. Keep everything in the folder.

Each arm off letting afford all the materials you get from East Institution. Keeping a folder key dates in your phone as a reminder when something is do. When is the deadline? All that is important, and what else is important is create a email address just for the institutions you applying for it in the scholar Fishel Planet Ford. That way you can keep that separate from your personal email, 'cause a lot of times when you start applying for scholarships with more stuff is are coming in when you start applying for colleges.

Where I know Washington College, we send you a lot of good information so keep all that stuff in a separate email. That way you can keep track of. OK, this is my college career stuff and this is my personal stuff. It's like I said start applying for every scholarship that you're eligible for now I'll come from could become familiar with your Higher Education Commission website, 'cause a lot of times you Higher Education Commission could offer different scholarships and grants on for you and keep your FSA ID.

Say but handy because like I said, you not only need you for your first year, you'll need it for every year after that that you apply for financial aid an again. I want to reiterate, don't fall for scams. You should never have to pay for financial image for faster, so make sure you be vigilant on anyone's trying to make you pay for something that's free. OK, so I went over a lot of stuff and I may have went through it fast, so I apologize, but I wanted to really leave time for question and answers.

Can always go back on his web in order to listen in and make sure you watch those YouTube videos because it's really important to go back just to get familiar now is the time to get familiar with all this stuff for stuff now, so we'll go ahead and go into the question and answer session. Jennifer will come back on and see me the questions that you put in the chat box and we'll go from there, so thank you for listening and taking the time.

Thanks so much ornica for that presentation an giving everyone a brief overview of financial aid. We do have a few questions, so we're going to start with the first one. If my school only offers weighted grades, are there still merit scholarships available to me?

So at Washington College we use, uhm, we use the college rank we used to graze and we also use, uhm, not skinny class, right? You graze annual GPA and there's one more.

Remind me.

Hum.

Rank score

and then uh.

Task or thank you.

Yeah, other things as admissions.

Yes.

OK.

So that helps determine what Mary you qualify for an institution. Like I said that you're applying for use different things to determine how much in Merit Scholarship you qualify. You could qualify for.

OK, if you apply test optional to Washington College, does the financial aid office only consider the high school GPA for merit based scholarships?

So financial aid is we often your financial aid is totally different from what they offer you in the missing side. So emissions are for your merit based on your high school. Whether you do test optional in GPA, an financial way we look at your fasfa dot ESC to help determine what if you qualify for. I think that was the question.

Yeah, if they go test optional we would consider GPA an class rank in place of the test.

OK, OK thanks, sorry I.

OK, the next question would faster give me aid even though my parent has a federal government job.

Um, so we we don't look at where your parents work at. We look at their financial information now we. But when you complete the faster they factor in your parents income adjusted gross income, their wages coming in household. So it's a lot of different factors that go into the fast application. So not necessary because they work for the government, but it's based off of their income information.

In this next question is sort of an expansion of one earlier about Merit Scholarship, so they only based on GPA and test scores. Or do you consider other things and I'll just expand on that to say that the office of admissions determines our merit awards and they will consider other things as they see appropriate.

But the office of financial aid is not involved in those decisions we come in after admissions makes the merit award determination for need based aid another aid.

Thank you.

OK, do both parents need an FSA ID or only one?

So usually I recommend both. Come get it. Um, 'cause it doesn't hurt to have both of them apply because of both of them will be on your fasfa application, but only one of 'em need to sign the fast application. But it is handy for both of them to get a FSA ID, because sometimes I say friends and you go to do your parent plus loan. Only one parent could apply for the plus loan so you have mom who signed the faster. But maybe dad wants to do the plus loan. So go ahead and get it for both of 'em.

It doesn't hurt you to have it for both.

OK, will students usually get their offer letter after acceptance or does the timing matter?

So I watched it in college. You have to be accepted before we offer you a financial aid.

OK, let's see here.

How long does it take for Fasa to get processed again?

Usually between we say three to five business days, but um, October is using a busy time, so everyone is doing that fastball at once, but usually turn around time with a three to five business days from that process. Your fast for application sent you get notification that you're fast was been processed before we will, so once you get your sore report you didn't get the email. Say Hey, we process your basketball, we use it to turn around time three to five business days.

OK.

Um?

Let's see here.

How do you qualify for the hot Sun Trust Scholarship?

I'll let you answer that one, Jennifer.

She said.

Stop.

Ascentia Lee has Hudson Trust scholarships are awarded after the students come into the college and it replaces an award that you would have already received and at that point you become a recipient of a Hotson Trust scholarship. It does provide you.

Certain benefits of being invited to a scholarship dinner. You get to meet the hots and trust it is a very important group of people that we have at Washington College. So it is there is not a separate application process for the Hot Sun Trust scholarships.

OK, what scholarships does Washington College offer specifically?

Um, so scholarships outside of Merit Scholarship. I'm assuming that's what you're referring to. We do have endowed scholarship opportunities, but similar to what Jennifer just spoke about there, not additional. What we do is endow scholarship earning scholarships that if you qualify for those couches, we could swap them an place up even your merit or your needs based funding. But it's not a separate application, is not additional funding. However, our emissions office do have different scholarship opportunities.

So just give out your message. One of the missions counselors and they can talk more in detail of the other scholarships that they have outside in America.

OK.

Um, is there a certain number of credits that you need to take to maintain aid as well as scholarships like number of credits per semester? They didn't mention GPA here, but that would be part of it as well. Do you want?

That is correct. So you have to maintain us. You have to be a full time student student. Excuse me in maintain a certain GPA. So for Washington College on full time is 12 credits and then GPA requirement for federal aid is 2.0 two .0 so also for your merit scholarship. Depending on which Merit Scholarship you qualify for, they have a minimum GPA that range from 2 point start at 2.7 to 3.0. No.

You have the meeting that as well.

Band on that a little bit for students that are receiving federal aid, you must maintain a 2.0 GPA.

As well as complete 67% of the classes that you attempt, so that means not a lot of withdraws. An satisfactorily complete all of the courses that you begin to expand on the on the other portions of aid are need based aid. Requires a 2.0 and our merit scholarships start add a 2.5 and can go up to a 3.0 to maintain those from year to year. We do that review at the end of spring and we will notify you what's your status.

Is for the next year whatever college you choose to go to, make sure that you understand what those renewal requirements are. Those are Washington College requirements, but every college is different. State aid may have a different requirement as well, specially Maryland scholarships. They do require certain income levels here to here, so make sure you know what those are.

Um?

Does Washington College on her scholarships from our home states?

If you refer to like your home, higher education offers, usually they are not transferable. So say for instance, did we lived in Pennsylvania? They have what they call the FIA grant. A lot of times it's not transferable from one state to another, but double check with your higher education but most of the time they're not transferable.

And that is different from state to state. So as I said a minute ago, you will have to do your homework for the state that you live in and the state that you're looking to attend college and.

Um, is it too late to apply for FAFSA if I apply now? I'm going into my senior year.

So.

I.

I thought maybe you were freezing up a little bit, so the.

The fact is not open for you rising seniors until October 1st of this year. So as soon as October comes, you will want to do that fast. So get that um processed. I will say that every school is different as far as processing time. So while you may be accepted to a college by October 1st and you do your fats on everything is done. Your schools financial aid office might not be set up an.

Running to be able to award students for the next year. Financial aid offices have a lot of internal programming and set up to do so. Look at your schools financial aid office. Traditionally Washington College. We are usually able to start awarding students around November 1st, so that is pretty pretty early on, so hopefully that will help you make decisions pretty early.

Um?

Do you offer financial reads on perspective in state student athletes to get an idea of basic scholarship money they qualify for?

Um, so I think we do have an early reprocess on an Jennifer actually is in charge of that from the financial aid standpoint, but we do have a early read financially process in place where you would actually have to do the application for fasfa. Currently for the 2021 year and then send the information into our missions office and then they would look at your current grades to determine if they can give you an estimate amount. Or would you could possibly qualify 4.

Just realized where after 11:30, but we're going to go ahead and stay on here and continue to answer questions. If you have something else that you need to do, feel free to sign of-, but we're going to have a few more here. Can you begin to fill in information in the fasten now despite not being able to submit it until October?

The FAFSA is for the year that you will be attending 2021 to 2022. Will not be available until October 1st. However, the current FAFSA is available which would be the FAFSA if you were coming to college this fall. It is available and you're welcome to go out and get that submitted. Keep in mind it is going to be based on 2018 tax information instead of 2019, which is what you would use next year.

So if your parents and you have completed your taxes for 2019, you can enter that information in manually to get a better idea of what your FC might look like come October.

Nothing very quaint, Jennifer.

Would you suggest being a student in the work study program?

Uhm, I would. Personally, if you qualify for work study, uhm I would say take advantage of it. But I also will say academic first because your academics is more important. However, if you have free time to start doing a job on campus and you qualify for work study, take advantage of that too as well. One thing about our work, study, program or even just our jobs in general on campus, they work around your schedule. So if you can only put in a couple hours a week to earn funding.

Do that and I think about it and parents would appreciate this is they did mom. They don't have to always send you money because you'll be earning your own money. Um, so you know it's a great opportunity for you. You know to build up your resume. Getting a job on campus, you can get a job on or off campus. So it really depends on if you are available to work it and you qualify for it. I say it working doesn't hurt you at all.

And just so students know if you are not eligible for a federal work study award, that does not mean that you cannot work on your college campus here at Washington College, we only had about 200 work study students, but we had about 700 working. That just means that the remaining 500 students were paid through institutional funds.

Instead of federal work study funds, which is federal funds we received from the federal government. So there are many, many opportunities to work. Even if you're not offered a federal work study job, or I'm sorry award.

OK, just Washington College take into consideration the rigor of different high schools in evaluating each student for admittance and scholarships.

So it goes back to, uh, we were talking about earlier our missions Department. We look at it like a few different things. So we do take that into consideration as well. As I say you're crashing your class rank, your GPA and you know you can do test optional 2 as well. So we do as an Armistice counselor. Look at different things when considering the Merit Scholarship.

OK, which scholarships scholarships are stackable versus which ones are not?

Nom stackable

so are do you wanna talk about like RDE? That's the only one that's really stackable? You wanna kind of answer that one Jennifer?

Well, we have a few endow towards like the Vincent Hinson.

Yes.

This.

Frances waters Leadership Award. Um Cincinnatus Cincinnatus scholarship. We have I would say 10 or so scholarships. It can be stackable which would be added on top of the Merit Award that was offered to you from the office of admissions.

Thank you.

Uh-huh

I was thinking the bigger ones, I wasn't, I will. I will forgot about the the the ones from the admissions office.

uhm I think I have answered everybody's questions so we're going to go ahead an rap up. At this point. We hope you enjoyed the presentation, even if you're still thinking about flying to Washington College. All of us are here to assist you. Please reach out to us at any point. We'd be happy to answer your general questions an even more specifically, how things work at Washington College.

Or happy that you were with us today, and we hope that you enjoy your day. Thank you.

Thank you.