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Category Archives: Organization

*FAFSA FRENZY*

NEED HELP FILING YOUR 2016-2017 FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)?
*Attend a FAFSA Frenzy (a state-wide initiative) on MARCH 5, from 2:00 PM – 4:00 PM at Lybyer Technology Building!
*Volunteers will be available to assist you to file your FAFSA. You can also sign up for a State-Wide Drawing – One of Sixteen $500 Scholarships to be used at any postsecondary program in Missouri.
*REMEMBER – MARCH 31, 2016 is the DEADLINE for FAFSA to be completed in order to be considered for the Supplemental Grant, and Federal Work Study Program. Also, the majority of scholarships has a deadline of March 31, 2016.
*Happy Spring!

Mapping Your Education

While attending a college or university may be expensive, there are several different ways you can reduce the overall cost of higher education.

Choose an educational institution wisely.
•Evaluate the costs of public vs. private, two-year vs. four-year, in-state vs. out-of-state schools
•Take general education classes at a local state or community college
• Research graduation rates, job placement rates, and average amounts of loans borrowed from the colleges you are looking at.

Plan how you will pay for college.
-Save for college
-Use education loyalty and affinity programs
-Explore financial aid options
-Claim tax credits and deductions for education

Plan to graduate on time (within four years)
-Money is time – The longer you take the higher the cost in tuition, time, and resources, along with a delay in earning power.
-Research schools that offer accelerated programs – students should seek programs of study that will allow degree attainment in the shortest time possible.

Take accelerated coursework/curriculum
-Advanced Placement classes prepare students with the possibility of earning academic scholarships and specific scholarships in certain fields of study: Science, Technology, Engineering and Math.
-College Level Examinations Programs (CLEP) allows students to earn credit if they demonstrate proficiency in college courses.
-International Baccalaureate degrees could possible equate to college credit

Work outside of the classroom
-Helps build professional network and professional references
-Helps earn money for college expenses
-Federal work-study programs
-Part-time employment
-Summer jobs
-Internships
-Provides opportunities for full-time employment after graduation
-Helps prioritize your time for classes, studying, and free time

Develop a spending plan
Develop a spending plan, or budget, and develop long-term and short-term goals for the money that you earn or any excess financial aid funds that may be released to you.

Check out Mapping Your Future website for more information.

Look Into All Forms Of Financial Aid

A variety of financial assistance programs are available to help you fund your college education. Scholarships, grants and work-study assignments are available to students of all ages and backgrounds.

The first step for most of these programs is to complete and file a Free Application for Federal Student Aid (FAFSA). Submit your FAFSA as soon as possible after January 1 each year. You must file your FAFSA before April 1 to qualify for the Access Missouri grant.
Findout if you qualify for financial aid.

Federal Student Aid
*Federal Pell Grant
*Federal Supplemental Educational Opportunity Grant (FSEOG)
*Teacher education Assistance for College and Higher Education (TEACH) Grant
*Iraq and Afghanistan Service Grant
*Federal Work Study
*Federal Perkins Loan
*Direct Subsidized Loan
*Direct PLUS Loans

State Student Aid
*A+ Scholarship
*Access Missouri Grant
*Advanced Placement Incentive Grant
*Bright Flight Scholarship
*Kids’ Chance Scholarship
*Marguerite Ross Barnett Memorial Scholarship
*Minority Teaching Scholarship
*Minority and Underrepresented Environmental Literacy Program
*Public Service Officer Survivor Grant
*Vietnam Veteran Survivor Grant
*Wartime Veteran’s Survivors Grant

Scholarship Information

Scholarship Search Tips

In these tough economic times, many families may need additional money to help pay for college. Federal and state financial aid programs may not be enough. Seeking and applying for private scholarships from non-profit foundations and other organizations may provide the extra help needed. Here are some suggestions about how to find legitimate scholarships.

  • “Like” the MDHE’s Facebook page, Journey to College. The MDHE is often notified when new private scholarships are available or when a scholarships’ application period opens, and this information is added immediately to Journey to College.
  • Follow the MDHE’s tweets via Twitter, and have these communications sent to your cell phone. The MDHE communicates scholarship information as well as other resources for students and their families.
  • Ask businesses, community groups, schools, and religious and civic organizations in your local community or state about scholarship opportunities.
  • Check your local library for scholarship books.
  • Keep looking! The more you search, the greater your chances of finding additional programs.

Keep the following tips in mind when using the Internet or a scholarship search organization:

  • Be cautious of scholarship scams. Contact the Federal Trade Commission for more information.
  • Do not provide credit card information to use a free scholarship search.
  • Read the fine print carefully. Many online financial assistance search services request information about you so they can find financial assistance programs for which you may be eligible. Some of these companies may send you information about other services that they provide or sell your information to another company.

www.dhe.mo.gov/ppc/grants/scholarshipsearchtips.php

FAFSA Toolkit

FAFSA Toolkit:

Join the club. File the FAFSA

This toolkit is designed to assist you in providing information on completing the FAFSA (Free Application for Federal Student Aid).

With the click of a mouse or a quick “cut and paste,” you can have your own FAFSA campaign, provided by PHEAA.

From print ads to web banners, our tools help schools and community partners increase FAFSA awareness.

How to Download: To download, right-click (control-click on Mac) and select “Save Target As…” from the pop-up menu.

https://www.pheaa.org/partner-access/fafsa-toolkit.shtml

Calculator

Use our online calculators to see how your financial choices can affect your bottom line.

  • Budget Calculator This link opens in a new window

    Doing a budget for the first time can be confusing. The budget calculator on YouCanDealWithIt.com helps simplify the process.

  • Savings Calculator This link opens in a new window

    Find out how much, and how often, you need to save to meet a specific financial goal.

  • Annuity Calculator This link opens in a new window

    Get an estimate of how your savings will grow over time.

  • Student Loan Repayment Calculator This link opens in a new window

    See how different interest rates and loan terms can affect your monthly payment.

https://www.pheaa.org/tools-resources/calculators/index.shtml

College Calendar

Get organized with College Calendar.

College Calendar is your key to tracking everything you should do to attend college and achieve your educational dreams. From choosing a school to applying for financial aid, the current calendar shows all events for high school seniors. College Calendar is powered by Trumba, an interactive web application.

https://www.pheaa.org/tools-resources/college-calendar/index.shtml

Helpful

Calculators

Repayment Amortization

You can estimate your payments with various interest rates and loan terms using this calculator.

Repayment Plan

You can estimate your payments under various repayment plans using this calculator.

Income-Based Repayment

This calculator can help you determine if you qualify for the Income-Based Repayment(IBR) plan. IBR is designed to make payments more affordable for borrowers.

Income Contingent Repayment

This calculator can help you determine if you qualify for the Income Contingent Repayment (ICR) plan.The Income Contingent Repayment plan is based on your Adjusted Gross Income.

https://www.mohela.com/DL/calculators/default.aspx

Budget

Spending and Savings Plans

Creating and sticking to a spending and savings plan might not be your idea of  fun, but it can help you control your spending so you CAN have fun without getting  into money trouble.  If you don’t have  much money coming in, don’t worry—following a realistic plan CAN still allow you to  have some small luxuries, even if it is an occasional soda or movie.

  1. The first step towards creating a budget is  determining all of your recurring monthly expenses, such as rent, tuition, groceries, phone  bill, student loan payment, car payment, gas, insurance, necessary clothes, and other needs. You may wish to check out  the MDHE’s spending and savings plan worksheet to help get you started.
  2. Next total your monthly income including wages  from work (not including overtime) and any financial aid funds left  over for living expenses after paying your tuition and fees.  Calculate the amount of these financial aid funds you should use each month by dividing the  amount by the number of months in  your semester or term.
  3. Then, take your overall expenses total and subtract expenses from your income.  There may not be anything left over, or it  could be a negative number.  Based on the  results, examine each item in your budget and decide if you could cut back in  any areas.  Which line items are truly NEEDS and which are actually only the things you WANT? Additionally, if you are paying checking account or credit card fees, learn how to effectively take charge of your finances while to eliminate these expenses.

Congratulations, you’ve created a budget and taken the first  step to getting control of your money.

Now for the tough part—

  1. Find out if your actual spending matches your plan.  Tracking expenses and comparing them to your  plan will allow you to gain control over your monthly spending, allowing you  to keep student loan debt,  as well as other types of debt, at a reasonable level or non-existent,  especially while you are in college.

There are a number of ways to track your spending, such as  writing down purchases in a checkbook ledger or using a spreadsheet.  If you are comfortable  letting technology do some of the work for you, you can use an application like www.mint.com or www.buxfer.com, which can help you track and analyze your spending habits.

If you follow these steps, you should be able to  gain control over your money, save money for emergencies, and get out  of debt quickly.

http://www.dhe.mo.gov/ppc/studentloans/budgetplan.php