• No results found

College Costs, Student Loans & Scholarships

N/A
N/A
Protected

Academic year: 2021

Share "College Costs, Student Loans & Scholarships"

Copied!
33
0
0

Loading.... (view fulltext now)

Full text

(1)

Some of the best things in life are free…

unfortunately college isn’t one of them.

College Costs,

Student Loans

& Scholarships

(2)

NH Higher Education Assistance Foundation –

Continuum of Services

(3)
(4)

There is clear evidence that rising attainment rates in other

countries reflect genuine economic demand for a better-educated

workforce.

(5)

College Pays During Challenging Times

"

The recession hit those with less

schooling disproportionately

hard—nearly four out of five jobs

lost were held by those with no

formal education beyond high

school. At the other end of the

spectrum, workers who had

completed a four-year college

degree or higher were largely

protected against job losses

during the recession and some

had job gains. The job recovery

has only increased the divide

between the less-educated and

more educated.”

(6)

Lumina Foundation Goal

Why increase the percentage of

Americans with high-quality degrees

and credentials

to 60 percent by the

year 2025?

Higher education

is a prerequisite to success in a

knowledge-based society and economy.

“The social and economic opportunities facing

our country can best be addressed by educating

many more people beyond high school. As we

attain the goal, we improve the economy,

strengthen civic engagement and reduce the

costs of crime, poverty and health care and, in

short, improve the human condition.”

(7)

College Degree Attainment is Key to Short-term

Economic Recovery and Long-term Prosperity.

(8)
(9)

Maximum and Average Pell Grant in 2011

Dollars, 1976-77 to 2011-12

• SOURCE: The College Board,

Trends in Student

(10)
(11)

Federal Student Loan 2-Year Cohort Default Rate

(12)

Median Earnings and

Tax Payments

of full-time Workers Ages 25 and

Older, by Education Level, 2008

(13)

Estimated Cumulative Earnings Net of Loan

Repayment for Tuition and Fees

The College Board, Education Pays 2010

The typical four-year college graduate makes up for time out

of the labor force and for paying tuition by age 30.

(14)

State Appropriations for Higher Education per $1,000 in Personal

Income, 2011-12 and 5-Year Change from 2006-07 to 2011-12

• SOURCE: The College Board,

Trends in College

(15)

Need-Based & Merit Grants for Undergrads

(16)

Remarks on Signing the Higher Education Act of 1965

President Lyndon B. Johnson's Remarks at Southwest Texas State College

November 8, 1965

The President's signature upon this legislation passed by this Congress will swing open a new door for the young people of America. For them, and for this entire land of ours, it is the most important door that will ever open—the door to

education. And this legislation is the key which unlocks it…To thousands of young men and women, this act means the path of knowledge is open to all that have the determination to walk it. It means that a high school senior anywhere in this great land of ours can apply to any college or any university in any of the 50 States and not be turned away because his family is poor…Here the seeds were planted from which grew my firm conviction that for the individual, education is the path to achievement and fulfillment; for the Nation, it is a path to a society that is not only free but civilized; and for the world, it is the path to peace—for it is education that places reason over force. As a student, I lived in a tiny room above Dr. Evans' garage. I lived there 3 years before the business manager knew I occupied those quarters and submitted me a bill. I shaved and I showered in a gymnasium that was down the road. I worked at a dozen different jobs, from sweeping the floors to selling real silk socks. Sometimes I wondered what the next day would bring that could exceed the hardship of the day before. But with all of that, I was one of the lucky ones—and I knew it even then. I left this campus to become a teacher under one of the great teachers that I have known. He came here and looked over my credentials and somehow or other offered me a job at $125 a month to teach a Mexican school at Cotulla when I was a sophomore, and it was necessary that I leave that year to teach.

I shall never forget the faces of the boys and the girls in that little Welhausen Mexican School, and I remember even yet the pain of realizing and knowing then that college was closed to practically every one of those children because they were too poor. And I think it was then that I made up my mind that this Nation could never rest while the door to knowledge

remained closed to any American. So here, today, back on the campus of my youth, that door is swinging open far wider than it ever did before. The rest is up to you.

(17)

If you think education is expensive,

try ignorance

.

The Message is Always Changing…

The more you learn, the more you earn…

NOW:

Choosing the right vocation

will lead to wealth formation…

(18)

New:

Net Price Calculators

New federal requirement that all schools must

provide a Net Price Calculator to “enable current and

prospective students, families, and consumers to

determine an estimate of a current or prospective

student's individual net price at a particular

institution”.

***The calculator’s results are not a guaranteed amount

that you will receive, but as a potential amount based on

information reported.***

(19)

“It’s worth the extra $14,500 to go there.”

“But is it worth the extra $91,875?”

Annual Net Price After Financial Aid

School A

$18,658

School B

$33,200

Four-Year Net Price

$79,229

$140,980

Actual Price Difference

After Interest Expense During 10-year

Repayment Period

$153,419

$245,294

(20)

Calculate Loan Payments

Federal Direct Stafford Loan

*Assumes a freshman student will borrow

$5,500 in an unsubsidized loan with an interest

(21)
(22)
(23)
(24)

Can’t Find Your Loan Information?

National Student Loan Data System

(25)
(26)

Encourage them not to get discouraged

through the process.

(27)

How Financial Aid Is Awarded

Cost of Attendance

(COA)

The amount a school has budgeted for a student’s tuition, room and board,

books, fees, supplies and any related expenses.

COA

45,000

- EFC 16,000

Eligibility 29,000*

Expected Family Contribution

(EFC)

The amount, as determined by federal methodology, that represents your

family’s ability to pay for one year of college.

* It is important to note that while

a student may be eligible for this

amount, there is rarely a

guarantee that the student will

(28)

EFC Calculators

(29)

How Saving Affects Your EFC

Davis Family

– Dad is 50, Mom is 48

– Two Children

– Have a combined AGI of $95,000

– Saved $6,000 for college expenses

EFC = $16,391

Smith Family

– Dad is 50, Mom is 48

– Two Children

– Have a combined AGI of $95,000

– Saved $60,000 for college expenses

EFC = $17,023

“Will saving for college ‘hurt’ my chances of receiving financial aid?”

The average parents’ savings will not negatively impact a family’s financial

aid eligibility.

Parent Asset Protection Allowance

Age 45

Age 60

Two parents - $42,900

Two parents - $59,700

(30)
(31)

www.savingforcollege.com

Excellent

Resource for

Learning

About

& Evaluating

College Savings

Options

(32)
(33)

Go confidently in the direction

of your dreams. Live the life you

have imagined. –

Henry David Thoreau

"The dream begins, most of the

time, with a teacher who believes

in you, who tugs and pushes and

leads you on to the next plateau,

sometimes poking you with a

References

Related documents

More specifically, for the purpose of evaluating the accuracy of the renderings of the root-sharing Divine Names in the existing English translations of the Qurān, it is of

Rows two through five of the panel give valuation errors for the dividend discount model (DDM), the discounted cash flow model (DCFM), the residual income model using GAAP earnings

So, component and mobile platform makers are responding by making higher output (louder) speaker amplifiers, adding DSP sound processing (aka: audio post-processing), eliminating

The AF-OM200 series Fiber Optic Power Meter has the same high performance as the AF-OM100 series with the added advantage of a user selectable choice of 0.1 or 0.01 resolution,

Isso porque o discurso de ódio, como já visto, embora expresse negação da igualdade entre os seres humanos (base do reconhecimento jurídico), também manifesta negação do valor

The total return on stock has two parts, current yield plus capital gain, and capital gain rate is equal to growth rate of dividends... Jack's

Enjoy a reliable and efficient cloud-based solution that provides a state-of-the-art physical transport infrastructure, a global MPLS network, and leading- edge voice, data centre,

These solutions provide the performance and the scalability to handle video streams from thousands of cameras, while providing the quality of service to ensure that there is no