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Financial Aid & Scholarships

FOR A LIST OF SCHOLARSHIPS, SCROLL TO THE BOTTOM OF THE PAGE.

THE TWO MAIN FINANCIAL AID FORMS: FAFSA & CSS

I. FAFSA:The Free Application for Federal Student Aid must be filed by ALL Year 2 students applying for financial aid. The FAFSA can be filed as early as January 1 of Y2 (it is not available before) and we encourage families to file by January 15th or February 1st at the latest (check with the schools for their deadlines). Families should use the previous year’s income tax return forms and estimate, to the best of their knowledge, any changes. If need be, a FAFSA correction can be filed once the current year’s tax return is completed. Students can enter up to six schools on the FAFSA. Additional schools can be added by using the FAFSA correction form. Paper FAFSAs wil be available in the CTO this December. However, online filing (www.fafsa.ed.gov) is recommended—it speeds up the financial aid process significantly.

FAFSA HOTLINE: 1-800-433-3243 (Open Monday thru Friday from 8 am-12:00 midnight, and Sat. 9 am - 6 pm). If you are filling out the FAFSA and have questions, this is a great resource.

IMPORTANT FAFSA LINGO:

EFC: The Estimated Family Contribution is the amount of money the federal government determines a family can pay for college based on the information filed in the FAFSA. The EFC is the same regardless of variable tuition, room, board and fees at different schools. PREDICT YOUR EFC WITH THE FAFSA-4-CASTER!

SAR: The Student Aid Report summarizes the information reported on the FAFSA. If the FAFSA was filed correctly, the EFC will be included in the SAR. Schools review a student’s SAR and EFC to come up with a financial aid package.

II. CSS PFOFILE: The CSS or College Scholarship Search Profile is an additional financial aid form that is required by some schools--typically private colleges. The form must be filed in addition to the FAFSA. It can be filed as early as this October at www.collegeboard.com (under “Pay for College”). To find out whether a school requires it, go to the Profile link on the collegeboard website for a list, or check with the individual college.

CSS HOTLINE: 1-800-239-5888 (Open Monday thru Friday, 9 am - 6 pm). This is a great resource if you are filling out the CSS Profile and have questions.

FOUR TYPES OF FINANCIAL AID (SEE BELOW FOR SCHOLARSHIPS)

Financial Aid Package: Students receive a letter, directly from the accepting institution with their financial aid package. Ideally, the financial aid package meets the difference between the total cost of attendance (tuition, room, board, books, fees) and a families’ EFC. To meet this difference, colleges offer a combination of some or all of the items listed below.

1. Grants are funds that do not need to be paid back and do not require an application. They are often awarded by the accepting institution. Depending on need and eligibility, there are also the following federal and state grants.

Federal Pell Grant: The maximum award for the 2005-06 year was $4,050. The maximum is subject to change. The amount a student receives is dependent not only on financial need, but also the costs to attend school.
TAP: The New York State Tuition Assistance Program provides up to $5,000 for New York residents to attend schools in New York State.
HEOP: Private Colleges in N.Y. State have HEOP or Higher Education Opportunity Programs that offer excellent academic and financial support for students who meet the financial eligibilty requirements (for e.g.: to be eligible, the income for a family of four will be $32,000 or below). Click here for details of the program and a list of schools.

2. Work Study: A federal program that gives students financial assistance through campus employment.

3. Loans: Financial aid that must be paid back

Stafford Loans: these can be subsidized (the government pays the interest while a student is in school) or unsubsidized (the student pays all the interest, although they can defer payment until after graduation). Stafford Loans are awarded based financial need.
Perkins Loan: This is awarded to students with exceptional financial need.
PLUS Parent Loan
Private Loans

For further details, visit: http://www.finaid.org/loans/studentloan.phtml

Student aid packages can differ significantly and often play an important role in where a students choose to continue their education. For this reason, it is important to compare packages carefully. Advice on comparing packages is available at: “Comparing Financial Aid Packages” at www.collegeboard.com.

Financial aid web resources:

www.studentaid.ed.gov
www.finaid.org
www.collegeboard.com (“Paying for College” section)
www.hesc.org
www.petersons.com
www.princetonreview.com
www.nycolleges.org
www.foundationcenter.org
www.uncf.org

Helpful Phone Numbers:

FAFSA HOTLINE: 1-800-433-3243 (Open Monday thru Friday from 8 am-12:00 midnight, and Sat. 9 am - 6 pm). If you are filling out the FAFSA and have questions, this is a great resource.

CSS HOTLINE: 1-800-239-5888 (Open Monday thru Friday, 9 am - 6 pm). This is a great resource if you are filling out the CSS Profile and have questions.

4. Scholarships are funds that do not need to be paid back. Sometimes scholarships are awarded by the accepting institution. Students often apply for outside scholarships offered by community organizations, foundations, corporations, employers and the like.

There are many scholarship web resources, some of our favorites include:

One of the best scholarship resources is the New Visions Guide to Scholarships for NYC Students. Click here to download. A limited number of copies are also available in the CTO.
Another fantastic scholarship resource, that includes links to scholarship websites and to specific scholarships, is posted by the OPTIONS program at Goddard Riverside. Click here to go to their site.
The BHSEC calendar has a limited number of scholarships posted. There are many events on the calendar though, so to make your search specific to scholarships, go to the search function along the upper right of the page and type "scholarship" (not scholarships). This will generate a list of scholarships. Click here for the BHSEC calendar.
www.fastweb.com
http://www.intellistudent.com/academiclife/scholarships.php
Unusual Scholarships
www.hesc.com
www.foundationcenter.com
www.uncf.com (United Negro College Fund)
www.hsf.net (Hispanic Scholarship Fund)
www.wiredscholar.com

Wendy’s High School Heisman

Requirements: GPA of 3.0 and must participate in at least 1 high school sport

Due date: October 1 (apply online)

www.wendysheisman.com

Coca-Cola Scholars Foundations

Awards $3 million to 250 students

Requirements: GPA of 3.0

Due date: October 31 (apply online)

www.coca-colascholars.org

Questbridge National College Match

Awards over $100 million in aid to 1,000 students

Requirements: families must make less than $60,000

Partnered with 26 colleges to provide aid and scholarships

Due date: September 30 (apply online)

www.questbridge.org

SPECIFIC SCHOOL SCHOLARSHIPS- You must apply to the specific school AND complete the scholarship applications

Skidmore College

Filene Music Scholarships

Awards $40,000 ($10,000/year) to 4 students

Requirements: Must be a musician! Have to submit a CD with the application. Do not have to major in music- simply have to take free private lessons Skidmore provides.

Due: Early December for online registration and January 15, 2010 for CD www.skidmore.edu/filenescholarship

Washington University in St. Louis

William H. and Elizabeth Gray Danforth Scholars Program

Awards full- or partial-tuition scholarship

To apply: get a form from the CTO and bring it to your advisor by September 25 (must be received by October 15).

Due: October 15 for the advisor’s form; January 15, 2010 for your application

http://admissions.wustl.edu/scholarships/programs/Pages/Danforth.aspx

For other scholarships:

http://admissions.wustl.edu/scholarships/programs/Pages/default.aspx

Boston College

Presidential Scholars

15 full-tuition scholarships renewable for all 4 years

To apply, you simply apply early action to BC- there’s no separate application!

Due: November 1 (apply online)

http://www.bc.edu/admission/undergrad/home.html

Emory University

Emory Scholars Program

Awards 25 full cost scholarships and 50 full-tuition scholarships

To apply: get the application from CTO and get Ms. Cheikes to sign it. Complete your part, and then give it to a teacher for them to complete a recommendation by October 9. Due: November 1 (this and the school application)

http://www.emory.edu/home/admission/undergraduate/index.html