Transfer Student Financial Aid Planning Guide

Financial Aid Conversations Financial Aid Conversations for Transfer Students for Transfer Students Lori Blevins, Financial Aid Director Davidson County Community College

Reviewing Current use: Reviewing Current use: $elf Assessment: how much &how long used? Pell Lifetime Limit - 12 F-T terms/or 6 acad yrs NC Education Lottery Grant - 10 F-T terms NC Community College Grant - 6 terms (also counts toward 10 total terms used for UNC & NC Need based) Loans Limits for Undergraduate students loans Dependent: $31,000 aggregate - with no more than $23,000 of it as sub loans. (at rate of 5500 to 7500/yr) Independent: $57,500 aggregate - with no more than $23,000 of it as sub loans. (at rate of 9500 12500/yr) $cholarships: is it renewable? Or portable?

Planning for future Planning for future FA Needs Update the FAFSA immediately some may have not sought FA at the CC level, but transfer cost are greater so be prepared. The FAFSA gives you options. List of schools (& FA codes) What is each institution s FAFSA and Scholarship priority date or deadline? Most is posted if you read and research. Create a folder with pertinent information for each college. Dates, forms and include The REAL Cost of Attendance: You don t want this to happen FA Needs

Current FA Review Is your advisee a current FA applicant/recipient at your community college? Then you can be assured they will still be interested at the 4 year level and the FA cycle of reapplication and follow through must continue. Grant aid stretches very far at CC costs but most students will need more to cover university costs. If you have students who are not currently applying for/seeking FA that s fine but, they may not be fully aware of the difference in cost/commute or relocation costs (true for dependent and independent. Don t do all this academic work only to discover you have not planned financially to make it possible.

Determining your REAL Cost of Attendance: Determining your REAL Cost of Attendance: Start with What will your attendance look like: Full-Time / Part-Time? Will you use campus housing & meal-plans or living off Campus or a commuter student, an on-line/distance student Cost should be researched and compared for the schools you are considering as part of your file: What will your tuition rate be? What are YOUR FACTORS? In-state/Out-of-state (RDS) , Public or Private Is there a special or discounted tuition rates for special populations such as: adult learners, commuters, distance ed/online students?

After After You Decide: You Decide: READ YOUR EMAILS for follow-up requests from the FA Office. FA may be offered but is not complete until you follow through. Compare award offers: Gift vs work vs. loans Scholarships: prioritize and take the time to INVEST yourself in the process. Essays, portfolios, recommendations. These are generally not last minute things. Look into/Accept Work Study program as a great option. (not only as funding, but with experience and future work reference built in.) Keep organized: write calendar reminders for deadlines and contacts Do your own research based on your own network of connections and professional aspirations. Show appreciation for opportunities.

Common Resource Sites: Common Resource Sites: www.FAFSA.ed.gov Your transfer college s web site & departments http://www.finaid.org http://www.fastweb.com http://www.scholarship.com http://www.collegeboard.com http://www.petersons.com