Financial Aid

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Financial AidCollege Costs

• Office of Student Financial AidMontgomery
  College240-567-5100
• E-mail FinancialAid_at_montgomerycollege.edu

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In the news

• Is College Still Worth The Price?
  (http//money.cnn.com/2008/08/20/pf/college/colleg
  e_price.moneymag/index.htm?postversion2008082214
• Paying For College Gets Tougher
• http//money.cnn.com/video//video/news/2008/08/25
  /news.romans.college.cnnmoney

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Need Personal Strategy

• Leave nothing to chance
• With your life, look at the big picture.
• How do your current courses fit your life plan?
• Take advantage of all college support services
• Free tutors, computer labs, advisors, wifi,
  etc.
• What is your plan to pay for college?
• Cash, savings, 529 plans, help from parents, etc.
• Financial Aid -grants, loans, jobs
• Reimbursement from job
• Military benefits/Service Academy (Veterans
  benefits)

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What is your career?Know where you are headed

• Take a reality check on jobs and the average
  salary you may earn
• Careers.com, Salary.com
• Develop a life plan for your professional work
• Occupational Outlook Handbookhttp//www.bls.gov/o
  co/
• What Color Is Your Parachute 2008, by R.N.
  Bolles
• Visit the career center at your school

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Be Careful and Plan Wisely

• Do you want to earn
• A college certificate
• An associate degree
• A bachelors degree
• A masters degree
• A professional degree (M.B.A , M.D.)
• A PhD ?

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Cost of a degree

• Time Money Courses degree
• From under 2 years to 10 years
• From a few thousand dollars to ..
• Hundreds of thousands of dollars
• Number of credits (courses) 30 60 -120 -

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Money for college

• Money is a valuable resource
• The cost of a really good college education can
  be economical if you plan carefully or.
• It can be a staggering bill with many repeated
  courses and parallel programs

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Sample (high cost) 49,190 Private College

• Fall Tuition, R B, Misc. 24, 595.Spring
  Tuition, R/B Misc. 24,595.
• 15 credits per semester of 15 weeks
• 5 classes _at_ 3 credits each
• Take 3 classes on Monday
• 2 on Tuesday for 15 weeks
• Total .1639.66/ week.

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(No Transcript)
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Tuition Only/ U MD 8,005http//www.uga.umd.edu/a
dmissions/finaid/tuition.asp

• Fall Tuition
  4002.50Spring Tuition
  4002.50
• 15 credits per semester of 15 weeks
• 5 classes _at_ 3 credits each
• Take 3 classes on Monday
• 2 on Tuesday
• Total .266.83/ week.

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Financial Aid-Pell EFC 39082 parents/2
childrenCommuter-_at_MC

• MC Family School CostT F RB B Tr
  Msc. 13,694.
• - Financial Aid..
• Pell .. 890
• MD EAG.. 1400
• Stafford Loan. 3500
• Savings/parents.. 7840
• Total due..0

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Smart College Choice

• You can enroll at an excellent and very
  economical MD public college
• Great dollar value per credit today
• AP, CLEP, Portfolio, independent study
• Can add value without adding great expenses
• Great reputation, excellent programs
• Transfer options earn your undergraduate AA or
  BA degree in our public system and be an
  attractive candidate for a fellowship or
  assistantship at graduate school.

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All college applications should be familiar to you

• Learn how to handle your applications to transfer
  or for graduate school
• File your financial aid applications at each
  college you apply to enroll
• Understand the types of resources available to
  you
• Scholarships, Grants, Loans and
• Learn where the resources come from

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The money comes from

• The federal government
• 80 billion
• The state government
• 113 million
• The colleges
• many thousands of dollars
• Outside scholarship agencies
• Thousands to multi-million dollars
• Parents, students.
• Pay all the rest

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FAFSA the federal application
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The State Scholarships
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Institutional scholarship
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Begin

• Complete FAFSA each January http//www.fafsa.ed.go
  v
• Complete college application forms
• Complete college financial aid forms
• Complete scholarship applications