Financial Aid

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Financial Aid Scholarships

• Ellen Houston, M.A., NCC
• The Center for Student Cultural Diversity

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Paying for College

• Many students and parents think a University
  education is too expensive for them.
• College is expensive but well worth it!
• University of Nevada, Reno - estimated yearly
  cost of attendance

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What Is Financial Aid?

• Any source of funds available to help students
  pay for the cost of college.
• Grants free and do not need to be paid back
• Scholarships based on academic merit or
  specific criteria
• Loans students and families borrow money to pay
  for college
• Work Study the federal government provides
  wages to students for work

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Financial Aid

• Most financial aid is based on demonstrated
  financial aid
• Requires the Free Application for Federal Student
  Aid (FAFSA) www.fafsa.ed.gov
• Administered through the federal government
• Can be completed online or a paper version

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Whats the best way to submit the FAFSA?

• Submitting your FAFSA online is the way to go
• It saves time
• You get fewer errors
• Both you and your student can use a FAFSA pin
  to sign it electronically. www.pin.ed.gov
• You can just renew it each year
• Do NOT go to www.fafsa.com!!! They will charge
  you.

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Applying for Federal Financial Aid

• Submit the FAFSA by March 1st, each year. (You
  must complete it every year.)
• Need the previous years tax return
• You DO NOT have to wait until you your
  parent(s) have filed taxes. Submit the FAFSA as
  early as possible!
• You can use the previous years tax information,
  W-2s /or final paycheck stubs to estimate.
• You can make corrections once you have filed your
  tax returns for the year.

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Why is it important to do your FAFSA early?

• Those who apply the earliest have the best chance
  of getting extra grant money (if they are
  eligible).
• By April, UNR is usually out of Work Study and
  all grant money (except for Pell grants).
• Applying early also allows time to make
  corrections or submit required documents that
  Financial Aid might ask for to complete your
  students file.

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Pack Advantage Program

• Must be a Nevada resident
• Admitted to UNR (this program is only at our
  school)
• Must complete the FAFSA by March 1
• Must be eligible for a Pell Grant (income
  qualified)
• Must be in good academic standing
• You can expect to receive gift aid that will
  cover tuition, fee and books for all four years!

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University Scholarships

• All freshman who apply to UNR by March 1st are
  automatically considered for scholarships
• Returning students can apply for general
  University scholarships each year by February 1
• Colleges and majors also award scholarships
• ASUN, the student government, also awards
  scholarships

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Other Scholarships

• There are many free online scholarship search
  services
• Have your student ask his/her high school
  counselor and Career Center coordinator
• Ask at the civic, religious and non-profit
  organizations to which you belong
• http//www.unr.edu/stsv/cscd/scholarships.htm

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Millennium Scholarship

• Currently a student must graduate from a Nevada
  high school with a GPA of 3.25. 
• Three of science and four years of math.
• Must have attended a Nevada high school for at
  least two years. 
• If eligible, the student will be sent a letter by
  the Nevada State Treasurers office. 
• The student needs to acknowledge the scholarship
  via letter or online in order to receive it.

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Millennium Scholarship

• Full-time enrollment in a minimum of 12 credits
  of coursework is required
• The amount is 960 per semester paid toward fees
• Up to a total of 10,000 per student
• The scholarship is applied to the students
  account at the beginning of each semester
• Must maintain a 2.6 GPA as a freshman and a 2.75
  GPA after that
• No need to reapply each year

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Loans

• Government Loans lower interest rates.
  Available only by completing the FAFSA. Most
  students are eligible.
• Subsidized Stafford Loan is need-based. The
  federal government pays the interest to the
  lender while your student is enrolled. Interest
  begins to accrue when your student leaves school.
  
• Unsubsidized Stafford Loan has no interest
  subsidy. The interest accrues from the date your
  student takes out the loan.

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Loans

• Parents of dependent students are able to borrow
  additional funds that the student can use toward
  UNR expenses. The PLUS loan allows a parent to
  borrow up to the student cost of attendance
  (minus other aid)
• After graduation, students can consolidate
  students loans.
• Private loans have higher interest rates shop
  around!

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Work Study

• Work-Study may be offered if your student has
  demonstrated financial need and marked yes to
  Work-Study on the FAFSA.
• The program funds student employment. The
  employer benefits by hiring a work-study student
  because the federal government assists with
  paying 75 of the wages
• The student benefits by learning new skills,
  working in between their class schedule, and
  gaining valuable work experience.
• Work-study wages are considered financial aid and
  will be listed as part of the financial aid
  package.

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What does your student need to do to keep
his/her funding?

• Re-apply for the FAFSA and scholarships each year
• Stay eligible by
• Take and pass the proper amount of credits
• Maintain a 2.0 or higher

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Important Websites

• University Office of Financial Aid -
  http//www.finaid.unr.edu/
• www.college.gov college.gov is being built by
  the U.S. Department of Education in collaboration
  with students. It's a go-to source for
  information and resources about planning,
  preparing and paying for college

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Questions?