Financial Aid

FINANCIAL AID AND SCHOLARSHIPS

Financial Aid

Scholarships

This can feel like the most daunting part of the college process for some people. As college costs continue to rise, it is important for families to be realistic about what they can afford.

Excellent education is available at colleges that do not charge $42,000 per year! Financial aid is sometimes the deciding factor in a student's final choice.

In general, the colleges with the largest endowments give the largest financial aid offers to eligible students who demonstrate financial need, so don't assume that what a college charges for tuition is what you must pay. The financial aid offer or "package" usually consists of one or more of the following: grants, loans, work/study opportunity on campus. There are helpful programs online at www.vsac.org to aid in comparing financial aid packages from different colleges.

Information Sessions at TA

Paying for College Night October 15, 2007 6:30 pm Shark Tank

Financial Aid Forms Night January 7, 2008 6:00 pm Library

Your best resources for financial aid questions are:

VSAC-Vermont Student Assistance Corporation

1-800-642-3177 or www.vsac.org

NHHEAF-New Hampshire Higher Education Foundation

1-800-525-2577or www.nhheaf.org

How Financial Aid Works

Financial aid programs help many students pursue different courses of study. If you are seeking a degree or a certificate and are considering part-time or full-time attendance, check with your college or school to find out what financial aid may be available to you. Aid isn't limited only to 'traditional' students just out of high school.

What is financial aid?

Financial aid is assistance provided to students and families to supplement what they themselves are able to contribute to cover the cost of higher education. It can cover tuition and fees, housing and food, books and supplies, transportation, and personal expenses including child care. These items make up the 'college budget.'

Most financial aid is based on need. Needs determined by subtracting the family's and student's resources available for education from the college budget.

Budget - Resources = Need

What aid is available?

Three types of financial aid are available:

Grants and scholarships (also known as 'gift' aid). These do not have to be repaid. Scholarships may be based on need or on a student's academic performance or special talents.
Loans (also known as 'self-help' aid). Students and/or parents borrow low-interest loans that must be repaid.
Work-Study (another form of 'self-help' aid). Students earn wages that may be applied to the college bill or used for personal expenses.

Where does aid come from?

Financial aid comes from different sources:

the federal government
VSAC
the college a student is attending
Outside sources

Who can apply for aid?

To apply for federal financial aid, you must be a U.S. citizen or eligible non-citizen. To apply for a Vermont state grant from VSAC, you must be a Vermont resident, having resided in Vermont format least 12 months prior to your enrollment. College aid is obtained from the college, while scholarships from outside sources usually require separate applications and often have specific eligibility requirements. In all cases, to receive aid you must be admitted to an approved postsecondary school.

How do I apply?

Applications for financial aid can be as time-consuming as taxes. We advise starting early.
Financial aid application materials for Vermont students are available from VSAC, from all Vermont colleges and high schools, and from some public libraries. The following applications must be completed:

Free Application for Federal Student Aid (FAFSA). This application is used as a basis for determining eligibility for federal Pell Grants, for part-time and full-time grants from VSAC, aid from the college you are attending, and student loans. Students can complete a traditional paper FAFSA application, or file electronically on the Web. Students continuing their education receive a Renewal FAFSA in subsequent years. It is best to complete this form and submit it by January or February. FAFSA, PDF Version
Vermont Grant Application. This application must be completed by Vermont students who wish to be considered for a state grant and are pursuing a degree on a full-time or part-time basis. Students can file a paper application, or can file electronically. VSAC also sends renewal applications to students who have filed previously.
Institutional application. Some colleges require an additional application form. The school's catalog will indicate if this is required.
CSS Financial Aid Profile. Many private colleges and universities also require this form, which provides them with additional information for assessing a student or family's financial situation. This form is provided and processed by the College Scholarship Service and involves a fee.
Financial Aid Transcript. If you attended college before and received financial aid, you will be asked to complete this form, too.

It is very important to apply for financial aid on time and to meet all the deadlines set by the relevant agencies and colleges. Consult with a VSAC counselor for help, or a financial aid counselor at the school you plan to attend. College catalogs and guidebooks generally list the various deadlines that must be met.

Scholarship Edition

Scholarship Search: Information and Advice

So many options, how can you find the most appropriate information? Here youÕll find a few helpful sites recommended by the NHHEAF Network Center for College Planning.

Scholarship Databases Budgeting and Saving Financial Aid Forms and Info.

www.nhcf.org www.fool.com www.fafsa.ed.gov (FAFSA)

www.fastweb.com www.jumpstart.com www.collegeboard.org

www.scholarships.com www.youngmoney.com www.finaid.org

www.srnexpress.com www.practicalskills.com www.nhheaf.org

www.collegelink.com www.youngbiz.com www.mapping-your-future.org www.state.nh.us/postsecondary

Free Grant Money and Scholarships for Students

All TA seniors going to college are qualified to receive free grant money and scholarships. Vermont TA students need to complete a Vermont Grant Application, which have been distributed by Guidance. New Hampshire seniors will still qualify for some money, but they do not have to complete these applications.

Scholarships for New Hampshire Students

The New Hampshire Charitable Foundation is the largest source of independent student aid in New Hampshire, so visit www.nhcf.org and click on their Student Aid page for more information about student scholarships.

Applying for Scholarships

Tips for high school students and parents from VSAC

Now is the time to apply for scholarships available for the 2008-2009 school year. Stop by your high school guidance office to pick up a VSAC Scholarships booklet, request one directly from VSAC (call toll-free 1-888-253-4819), or print one out at www.vsac.org. The booklet provides descriptions and application forms for more than 80 VSAC-assisted scholarships. It also contains reliable information about more than 40 scholarships administered by other agencies and organizations, along with a useful list of scholarship-search reference books and Web sites.

Scholarships, like grants, are gifts of money that do not need to be repaid. Unlike grants, which are most often awarded based on financial need alone, scholarships most often have unique eligibility requirements based on such factors as residency, certain proven academic achievements or demonstrated talents, a specific planned course of study, or extracurricular participation. Financial need may or may not be one of the selection criteria.

You should plan to begin your scholarship search nine to 12 months before the start of the academic year for which you need funds, so if you're a senior with plans to attend college in the fall of 2008, start now if you haven't already. Begin within your town or region--check with your guidance counselor, town officials, the staff at local churches, and owners of local businesses. Community groups such as Rotary International and lodges like the Elks often offer scholarships, too. Once you've exhausted local resources, expand your search to include regional and national organizations.

Early in the process, be certain to contact the financial aid office of the college or university you will be attending. Staff there can provide you with information on scholarships restricted to the school. In addition, a financial aid officer can help you understand how receiving a scholarship may affect other aid you are awarded (e.g., loans, work-study, grants, and other scholarships). If you are applying to more than one school, be sure to contact the financial aid office at each one!

Scholarship Binders in Guidance

For a complete list of scholarship information and extra copies of application forms, visit Guidance and check out the Scholarships binders. Scholarships offered through colleges and universities are in the College Information binders in Guidance.

Guidance Office Binders Table of Contents

Program Name	Type	Who should apply?	Reference	Application Conditions	Award Amount	Deadline

Agriculture Scholarships	Nationwide	Seniors	Farming Family	Application	1500	2/15/07
Alice Peck Day	Local	Seniors	Health Careers	Application	1000	4/30/07
American Chemical Society	Nationwide	Minority		Application	9th - 2500, 10th - 12th - 3000	3/1/08
American Legion	Regional	Seniors		Application	Various	4/1/08
AXA Foundation	Nationwide	Seniors		Application	10000+	12/15/07
Best Buy	Nationwide	Seniors		Application	10000 - 15000	2/08
Burger King Scholars	Nationwide	Seniors		Nomination	1000	2/15/08
Chapel of Four Chaplains	Nationwide	Seniors		Contests	Various	Multiple
Cliff Murray Memorial	Local	Seniors	Equine Studies	Application	500	8/15/08
Coca-Cola Scholars Foundation	Nationwide	Seniors		Application	10000-20000	10/31/07
Discover	Nationwide	Juniors		Application	2500 - 25000	1/31/08

Elks Scholarships	Regional	Seniors		Application	Various	1/11/08
Free Spirit	Regional	Seniors	Journalism	Application and Essays	1000	10/15/07
Freeman Nurse Scholars	Local	Seniors	Nursing students-special schools	Application	7500 - 30000	4/1/08
Global Action Award	Nationwide	9th - 12th grades		Recommendation	5000	1/31/08
Guildscholar	Nationwide	Juniors	Visually Impaired	Application	up to $15000	by Senior year Sept. 15
Hartford Emblem	Local	Seniors		Application	750	15-Apr

Heartland Lions Club	Local	Seniors	Resident Restrictions	Application	500	5/17/05
Horatio Alger Association of Distinguished Americans, Inc.	National	Seniors	Critical financial need	Application	1000 - 20000	10/30/06
Humane Society	Regional	Seniors		Application	1500	3/17/08
Junior Achievement	Nationwide			Various	Various
Keppra Family Epilepsy Scholarship Program	Nationwide	Health Challenged		Application	5000	8/15/05
Key Bank 2006 Take 5 Scholarship	Nationwide	Juniors and Seniors		Kit	5000	2/06-6/06
Knights of Columbus	Regional	Seniors	Membership	Application	600	2/15/05
Komen Breast Cancer	Nationwide	Seniors	Restricted	Application	up to 10000	5-Nov
LGBT Scholarships	Nationwide	Seniors	Restricted	Various	Various
Lions Club	Nationwide	Health Challenged		Essay	500 - 1000	3/15/05
Marion Gray Memorial Fund	Regional	Seniors		Essay	1000	2/24/06
Members Advantage Com Credit Union	Local	Seniors	Membership Restricted	Application	250	5/5/06
Mercedes-Benz	Nationwide	Seniors		Application	2500	2/10/06
Monsanto	Nationwide	Seniors	Farming Family	Application	1500	2/15/06
NEACRAO	Regional	Seniors	NEACRAO enrollment	Application	1000	1-Mar
NFIB	Nationwide	Seniors	NFIB member nominated	Nomination	1000	3/15/05
North Country FCU	Local	Seniors		Essay	1000	4/16/07
Northern NE Junior Science Symposium	Regional	9th - 12th grades		Nomination & Competition	200-16000	1/28/08
Norwich Women's Club	Local	Seniors	Resident Restricted	Application and Essay	Varies	4/25/07
Orford Fairlee Lions Club	Local	Seniors	Resident Restricted	Essay		1-May
Pfizer Epilepsy Scholarship Award	Regional	Health Challenged		Application	3000