This document provides information about financing education beyond high school. It discusses the different types of financial aid including scholarships, grants, loans, employment opportunities, and tax benefits. It provides tuition costs for various universities and explains the cost of attendance factoring in expenses beyond tuition like books, transportation, housing, and food. It outlines the application process for federal and state financial aid and recommends additional scholarship search resources.

1. Awesome!
Financing Education Beyond
High School
Lolita A. Wood-Hill, Director
Prehealth Advising, Yeshiva University woodhill@yu.edu

2. What is Financial Aid?
Financial aid funds provide students and families with
the money needed to help pay for postsecondary
educational expenses:
Scholarships
Grants
Loans
Employment Opportunities
Tax Benefits

3. Tuition & Fees Cost of Attendance
 Columbia University $43,815 $50,383 per yr
 Princeton U $36,640 $43,208 per yr
 New York University $40,132 $46,700 per yr
 Pace University $33,702 $40,270 per yr
 Rutgers U $24,337 $30,905 per yr
 Monroe College $11,856 $18,424 per yr
 CUNY Senior Colleges $4,978 $11,546 per yr
 CUNY CC $3,528 $10,096 per yr

4. • Books and supplies
• Transportation
• Personal
• Housing
• Food
Total (per yr)
Tuition + fees + Other Expenses = Cost of Attendance
Living at home COA=
Away from home COA=

5. • Free money • Free money • Financial aid in the
awarded awarded as a result • Borrowed money
form of employment • Stafford Loans =
according to need of merit or
• $5,500 to $7500/year
• Federal Pell Grant potential excellence • Work-Study 6.8% interest rate
• Maximum award for
2011-12 = $5,550 • Armed Services
• NYS Scholarship for Scholarships • Subsidized
• NY State TAP Grant Academic Excellence • Teach for America • Unsubsidized
• Maximum Award for • AmeriCorps.
2011-12 = $4,925
• Federal SEOG Grant
Grants Scholarships
FWS
Loans
!! !!
!!!! !!!!

6. LOANS
 Money students and parents borrow to help
pay educational expenses
 Repayment usually begins after education is
finished
 Only borrow what is really needed
 Investment in the future

7.  Annual loan limits (combined subsidized &
unsubsidized):
 $5,500($3,500 can be subsidized) for 1st year undergraduates
 $6,500 ($4,500 can be subsidized) for 2nd year undergraduates
 $7,500 ($5,500 can be subsidized) for each remaining undergraduate
year
 2012-13 interest rates:
- Subsidized Loan = 6.8% (for loans in repayment)
- Unsubsidized Loan = 6.8%

8. How Much Will Borrowing Cost You?
 Principal: $25,000
 Interest Rate: 6.8%
 Loan Term: 10 years
 Number of Payments: 120
 Monthly Payment: $287.70
 Total Principal Paid: $25,000.00
 Total Interest Paid: $9,524.10
 Total Paid: $34,524.10

9. What Credit Cards Cost You!
 Principal: $1000
 Interest Rate: 18%
 Loan Term: 10 years
 Number of Payments: 120
 Monthly Payment: $18.02
 Total Principal Paid: $1,000.00
 Total Interest Paid: $1,162.22
 Total Paid: $2,162.22
 http://www.myamortizationchart.com/

10. File the FAFSA (Free Application for
Federal Student Aid) application at
www.fafsa.ed.gov.
After completing the FAFSA, file the
TAP (Tuition Assistance Program)
application at:
https://www.tapweb.org/totw.
Respond to request(s) for additional
FAFSA or TAP information and/or
documentation.

11.  FastWeb scholarship search
Http://www.fastweb.com/fastweb/register/start?ref=finaid-26f-
 Mexican American Legal Defense and Educational
Fund
http://www.maldef.org
 Latino College Dollars:
http://www.latinocollegedollars.org/DIRECTORY.pdf
 Ayuda Financiera del Estudiante en Español
http://www.finaid.org/otheraid/spanish.phtml

12. Self Help!
Learn how to
Live on a budget
 Distinguish between wants and needs
 Resist impulse buying
 Open a savings account
 Avoid credit cards and other consumer
debt