Major Changes in Federal and State Financial Aid Programs

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The Financial Aid Scholar Newsletter

As previously indicated, “the North Carolina General Assembly reduced state grants for the 2011-2012 academic year”. Students will notice a change in their North Carolina Legislative Tuition Grant (NCLTG) awards for the spring 2012 term.

The NCLTG will be reduced by $230.00 for the spring term. As a result, students that are enrolled full-time, taking 12 credit hours or more, NCLTG awards will be $695.00. Students that are enrolled, three-quarters time, taking 9-11 credit hours, NCLTG awards will be $521.00 for the spring 2012 semester.

In addition to the changes for the 2012 spring term, the following state and federal programs

will be discontinued beginning the Fall 2012— spring 2013 academic year: Federal Academic Competitiveness Grant (ACG), Federal SMART Grant, North Carolina Student Incentive Grant (NCSIG), North Carolina Legislative Tuition Grant (NCLTG), North Carolina S t a t e C o n t r a c t u a l Scholarship Fund (SCSF) and the North Carolina Education Lottery (ELS).

A l l g r a d u a t e students loans will be u n s u b s i d i z e d . T h e government will no longer subsidize interest on graduate student loans.

B e g i n n i n g t h e 2012-2013 academic year the state will introduce a n e w n e e d - b a s e d s c h o l a r s h i p f o r North Carolina residents.

Inside this issue: Major Changes in Financial Aid 1 2012-2013 Verification Up-dates 2 UNCF Scholarship Opportunities 3-4 UNCF Scholarship Opportunities 5-6 Debt Mgmt./Loan Re-Payment/ Scholarship Opportunity 7-8 FAFSA Reminder/ Scholarship Tips 9 Who’s Who in FA 10

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November 2011 Fall Semester Edition

Volume II, Issue V

Editor: Zakiya Middleton—Scholarship Coordinator

Financial Aid Director: Rochelle King ▪ Associate Director: Linda Sledge

Office of Financial Aid & Scholarships 118 East South Street Raleigh, NC 27601

Major Changes in Federal and State Financial Aid Programs

Based on these changes, it is more critical than ever that students complete their FAFSA f o r m s e a r l y a n d accurately. Failure to do so will result in receiving less funding. Students are encouraged to take the necessary steps in utilizing all available resources to finance their education.

Source of information provided by NCSEAA.

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Education, (DOE) places a great emphasis on the integrity of its financial aid programs. An important part of this effort is to achieve a high level of accuracy for financial and other information provided by applicants on the Free Application of Federal Student Aid, (FAFSA). The verification process helps schools accurately and equitably determine the types and amounts of federal funding students are eligible to receive.” The DOE has implemented some changes to the verification process beginning the 2012-2013 academic year in it’s effort to ensure that every student who completes a FAFSA form receives the funding they are entitled to.

Applicants and/or their parents who file a 2011 tax return are encouraged to use the IRS data retrieval process when adding their income on the FAFSA form. Using data retrieval will decrease an applicant’s chances of being selected for verification. Selected applicants and/or their parents that do not use the IRS data retrieval process or who after using data retrieval make changes to their tax information will be required to submit a copy of an official federal tax transcript from the IRS along with other required verification documentation to the Financial Aid Office, (FAO) before being awarded.

year, copies of 1040 tax forms will no longer be accepted for verification.

Students and/or their parents may obtain copies of their federal tax transcripts free of charge by making a request online at www.IRS.gov or via phone at (800) 908-9956. Filers may also request a tax transcript to be submitted directly to Shaw University by completing a 4506-T form. It is helpful that all filers have a copy of their recent federal income tax return on hand when making a request.

All non-filers must provide a non-filer’s tax statement from the IRS along with a copy of their wage earnings statement from the IRS for that tax year (if applicable) to the FAO. All non-filing tax statements may be requested through the IRS in the same manner as the federal tax transcript .

In addition to the requested tax documentation, the DOE is requesting that all selected applicants and/or their parents who report on the FAFSA form that they received Food Stamps (SNAP) in 2010 or 2011 must provide a statement to the FAO from the applicable agency from which

they received the resources.

Selected applicants and/or their parents that report that they paid child support on the FAFSA must provide to the FAO a signed statement listing the amount paid, the child support recipient, and the names of the child or children for whom the support was paid. Please note that additional documentation may be requested at the discretion of the Financial Aid Office in the event that further verification is needed.

Students who fail to provide the requested documentation will not be awarded. For additional information regarding the new verification changes for the 2012-2013 school term, please contact the Financial Aid Office.

Source of information provided by USA Funds.

Contact Information for Internal Revenue Services (IRS):

www.IRS.gov.

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UNCF SCHOLARSHIP OPPORTUNITIES

The Financial Aid Scholar Newsletter Page 3

Portfolio Project Scholarship 2011-2012 $ Scholarship Amount: $1,000

$ GPA Requirements: 2.5 or better

$ Eligible Locations: Washington

$ Eligible Majors: All

$ Classifications: High school seniors, College Freshmen, Sophomores, Juniors, & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: November 30, 2011

Baker Hughes Corporate Scholarship Program 11-12 $ Scholarship Amount: $5,687

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Business, Engineering, Information Technology & Finance

$ Classifications: College Sophomores, Juniors, & Graduate Students

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 1, 2011

ITW Corporate Scholars Program 2011-2012

$ Scholarship Amount: $5,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Business, Accounting, Computer Science & Engineering

$ Classifications: College Sophomores & Juniors For additional information or to register and apply online,

visit WWW.UNCF.ORG

Application Deadline: December 1 , 2011

Regions Financial Corporation Scholarship 2011-2012

$ Scholarship Amount: $7,500

$ GPA Requirements: 2.8 or better

$ Eligible Majors: Accounting, Business & Finance

$ Classifications: College Juniors & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 2 , 2011

Douglas Palmer-Trenton/UNCF Scholarship 11-12

$ Scholarship Amount: $3,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: All

$ Eligible Location: New Jersey

$ Classifications: College Freshmen, Sophomores Juniors & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 2, 2011

John Lennon Endowed Scholarship 2011-2012 $ Scholarship Amount: $5,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Mass Communications, Performing Arts & Music

$ Classifications: College Freshmen, Sophomores, Juniors & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

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Cisco Systems Scholars Program 2011 $ Scholarship Amount: $4,000

$ GPA Requirements: 3.2 or better

$ Eligible Majors: Computer Engineering & Computer Science

$ Classifications: College Sophomores

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 7, 2011

Wisconsin Student Aid 2011-2012 $ Scholarship Amount: $5,000

$ GPA Requirements: 2.5 or better

$ Eligible Majors: All

$ Eligible Locations: Wisconsin

$ Classifications: All

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 12, 2011

Detroit Student Aid Scholarship 2011-2012 $ Scholarship Amount: $5,000

$ GPA Requirements: 2.5 or better

$ Eligible Locations: Michigan $ Eligible Majors: All

$ Classifications: College Freshmen, Sophomores, Juniors & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Ronald McDonald House Charities of Greater North Texas 2011

$ Scholarship Amount: $3,000

$ GPA Requirements: 2.75 or better

$ Eligible Majors: All

$ Eligible Locations: Texas

$ Classifications: All

For additional information or to register and apply online, visit WWW.UNCF.ORG

Brinker International, Inc 2011-2012 $ Scholarship Amount: $2,000

$ GPA Requirements: .3.0 or better

$ Eligible Majors: Culinary Food, Food & Beverage, Food Service & Hospitality

$ Classifications: College Freshmen, Sophomores, Juniors and Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 5, 2011

Catherine W. Pierce Scholarship $ Scholarship Amount: $5,000

$ GPA Requirements: 2.5 or better

$ Eligible Majors: Women & American Studies, Art, Criminal Justice, Theater Arts/Dram, Political & Social Science, Philosophy, History & Public Administration

$ Classifications: College Freshmen, Sophomores, Juniors & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

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The Financial Aid Scholar Newsletter Page 5

UNCF SCHOLARSHIP OPPORTUNITES

Gateway to Leadership Internship Program $ GPA Requirements: 3.0 or better

$ Eligible Majors: Finance, Accounting, Economics & Business

$ Classifications: College Juniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 16, 2011

Social Entrepreneurship Fellowship Program 2012 $ Scholarship Amount: $4,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: All

$ Classifications: College Juniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 16, 2011

CDM/UNCF Scholars Program 2011-2012 $ Scholarship Amount: $6,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Engineering & Geography

$ Classifications: College Freshmen, Sophomores, Juniors, Seniors & Graduate Students

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 20, 2011

BNCF Railway Scholarship Program 2011-2012 $ Scholarship Amount: $2,000.00

$ GPA Requirements: 2.75 or better

$ Eligible Majors: All

$ Eligible Locations: Texas

$ Classifications: College Freshmen, Sophomores, Juniors & Seniors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 29, 2011

AT&T/UNCF Community Network Scholarship

$ Scholarship Amount: $2,500

$ GPA Requirements: 2.5 or better

$ Eligible Majors: Engineering, Computer Science, Technology, Mathematics, Management Information Systems, Biology, Chemistry & Physics

$ Classifications: College Freshmen

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: December 31, 2011

Intel Scholarship Program 2011-2012 $ Scholarship Amount: $5,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Engineering, Computer Science & Management Information Systems

$ Classifications: College Sophomores & Juniors For additional information or to register and apply online,

visit WWW.UNCF.ORG

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AT&T Foundation Scholarship 2012-2013 $ Scholarship Amount: $2,500.00

$ GPA Requirements: 3.0 or better

$ Eligible Majors: All

$ Classifications: High School Seniors, College Freshmen, Sophomores, Juniors & Seniors

*Applicants parents must be employed with AT&T, Inc.*

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: February 15, 2012

AFSCME/UNCF Harvard University LWP Union

Scholars Program 2011 $ Scholarship Amount: $5,000

$ GPA Requirements: 2.5 or better

$ Eligible Majors: Psychology, Social Work, History, Political Science, American & Women Studies

$ Classifications: College Sophomores & Juniors For additional information or to register and apply online,

visit WWW.UNCF.ORG

EMC/UNCF STEM SCHOLARS PROGRAM $ Scholarship Amount: $5,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Computer Science, Computer Infor-mation Systems, Engineering & Technology

$ Classifications: College Sophomores & Juniors For additional information or to register and apply online,

visit WWW.UNCF.ORG

Application Deadline: February 1, 2012

Oracle/UNCF Corporate Scholars Program 2011 $ Scholarship Amount: $10,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Accounting, Business, Computer Sci-ence, Finance, Information Systems & Marketing

$ Classifications: College Sophomores, Juniors & Sen-iors

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: February 15, 2012

UNCF General Scholarship Program 2011-2012 $ Scholarship Amount: 5,000

$ GPA Requirements: 2.5 or better

$ Eligible Majors: All

$ Classifications: All

For additional information or to register and apply online, visit WWW.UNCF.ORG

Application Deadline: May 18, 2012

United Water Corporate Scholars Program

$ Scholarship Amount: $5,000

$ GPA Requirements: 3.0 or better

$ Eligible Majors: Accounting, Finance, Engineering & Human Resources

$ Classifications: College Sophomores

For additional information or to register and apply online, visit WWW.UNCF.ORG

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The Financial Aid Scholar Newsletter Page 7

Thoughts of an appetizing Thanksgiving feast and time spent with family can be interrupted by November midterms and the built up stress of making sure your financial aid portfolio meets your complete educational needs. While we cannot make the reality of midterms vanish, we can assure you that our Financial Aid Staff is committed to giving you user-friendly advice on how to pay for school.

The Loan Default/Debt Management area of the Financial Aid Office will give you pointers on: Loan management

Loan consolidation How to budget

Financial Aid 101 and Financial Aid Roadmap

Why Consolidate?

You have recently graduated and you just can’t seem to manage your student loan repayments. If you're struggling, consider a student consolidation loan--you can consolidate all your loans into one monthly payment that's easy to manage. Find out more at StudentLoanConsolidator.com.

Need Credit Help?

Do you need immediate funds, but don't want the hassle of additional debt once you have completed your education? The SLN offers credit counseling, debt assistance, banking resources, and credit card counseling to help you repair and manage your credit score and develop good credit practices for your future. Find out more at StudentPlatinum.com.

Plotting a course through the financial aid process can be challenging, particularly when you don't know where to begin. There is help available! The Student Loan Network (SLN) www.studentloannetwork.com is a resource that offers students and parents information on the most suitable federal and alternative student loans and loan management. SLN provides a Financial Aid 101 eBook that guides students and parents through the process of applying for financial aid and understanding the varying types of funds available to pay for school. The SLN website offers a free downloadable version of the Financial Aid 101 eBook. Once you are familiar with the different kinds of financial aid, SLN also offers a Financial Aid Roadmap guide that provides significant dates in the financial aid timeline--making you aware of significant deadlines for scholarships, grants, and loans.

Do You

Need Ideas About Loan and Debt Management????

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Do I really need to increase my loans? Have you ever wondered how much you will have to repay in loans after you graduate from college? You may start by considering the standard repayment plan option.

Standard Repaymentallows you to make equal monthly payments during the entire term of the loan and results in the least amount of interest cost to the borrower.

Here's an example of a standard repayment plan: Your total loan amount borrowed: $30,000.00

Your loan interest rate: 6.8% Fixed

Your repayment term: 10 years, or 120 months

Your payments: $347.27 a month

Your total interest paid for the repayment term: $11,324.04

If this seems a bit costly for you to maintain as a recent college graduate, you can always contact your lender to discuss other repayment options that are more suitable for your income. Don’t risk the chance of going into default on your student loans. Communication is the key.

For more information or to begin planning for the repayment of your student loans, please contact Mr. Valentino Bryant at (919) 546-8434 or via e-mail at vbryant@shawu.edu.

The Soroptimist Women’s Opportunity Awards give women the resources they need to improve their education, skills and employment prospects. Eligible applicants must

be women who provide the primary financial support for their families, and who are

enrolled in or have been accepted to a vocational/skills training program or an undergraduate degree program.

Award amounts vary.

Application Deadline December 15, 2011

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The Financial Aid Scholar Newsletter Page 9

WWW.FAFSA.ED.GOV

You may begin filing your FAFSA form for the 2012-2013 school year starting January 2012! All you need to

begin is your or your parent’s income for the year 2011. Ex: Copy of your 2011 Federal tax return or any untaxed income. In order to successfully submit your FAFSA, you and your parent (if applicable) must sign using a Personal Identification Number (PIN). Please visit www.PIN.ED.GOV to apply for PIN or to request a duplicate if have misplaced it.

By completing your 2012-2013 FAFSA form early, you are increasing your chances to receive grant monies. Most funding awarded by the Financial Aid Office is awarded on a first-come-first-serve basis and on availability of funding. If you are selected for a process called verification, you should contact the Financial Aid Office or check online through the school’s portal to find out what documents are needed. It is imperative that you take the necessary steps to ensure that you benefit from all possible funding available.

▪ Maintain a 2.5 GPA or better

▪ Always have an academic transcript on hand for submission.

▪ Always have someone to proofread your essay before submitting it. ▪ Always complete and submit your application before the deadline.

▪ Visit your Financial Aid Office often for a listing of available scholarships.

▪ Contact your local churches, banks or employers to see if they offer scholarships. ▪ Visit your public library to browse books on scholarships and grants.

▪ Search diligently and visit selected scholarship websites often. ▪ Use you search engine to locate scholarships that are of special interest.

▪ Apply for as many scholarships in your major or field as possible. ▪ Remember to encourage yourself to keep trying until you achieve.

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Rochelle King—Dean of Enrollment Management & Director of Financial Aid Linda Sledge— Associate Director of Financial Aid

Ojebe Ifegwu— Automated Systems Coordinator Yvonne Joyner—Customer Service Specialist Carline Bethune—Customer Service Specialist

Zakiya Middleton— Financial Aid Counselor (Last Names A-CI) & Scholarship Coordinator

James White— Financial Aid Counselor (Last Names CL-G) Cherelle Smith— Financial Aid Counselor (Last Names H-L) &

Work-Study Coordinator

Valentino Bryant— Financial Aid Counselor (Last Names M-Q) & Default Coordinator

Patricia Russell— Financial Aid Counselor (Last Names R-SM) & Loan Coordinator

Wanda Carter—Financial Aid Counselor (Last Names SN—Z) & Default Coordinator

Derrick Gill—Records Management (Last Names A-K) Charlene Cotton—Records Management (Last Names L-Z)

Contact the Financial Aid Office today @ (919) 546-8240.

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