April 13, 2016: Compare Financial Aid Offers

posted Jun 6, 2016, 3:58 PM by Kristin Hannon
Summit Public Schools
College Readiness Newsletter
April 13, 2016

Weekly College Update

Dear Senior Snow Leopards, Bulldogs, Thunderbirds, and Huskies,

Over the next two and a half weeks leading up to National Enrollment Day on May 1st, you all have some very important decisions to make! For many of you, a major factor in that decision-making is going to be the cost of attending college. It’s very important to take time to understand your financial aid packages, which can be a confusing process.  

This week’s focus is how to understand and compare your financial aid offers.

In an upcoming Community Time lesson with your mentor, you’ll break down the different components of a typical financial aid offer, learn about what type of aid you should accept first, and practice comparing two financial aid letters from different colleges. In addition to that lesson, I want to share with you some tools that might be helpful as you work to understand the details of your offer letters:

  • Financial Aid Glossary and Overview

    • Financial aid has a lot of special terminology that can be confusing if you’re not familiar with it. This resource defines a lot of the common vocabulary used in offer letters.

  • Khan Academy Videos

    • This resource is a series of Khan Academy video tutorials on financial aid components, comparing offers, and appealing your financial aid package.

  • Award Letter Comparison Tool

    • This website allows you to plug in numbers from financial aid letters from different colleges and get a detailed breakdown of how the aid offers compare.

  • Loan Calculator

    • This calculator allows you to input the amount of your student loans and interest rates, and it provides you with an estimate of the amount of your monthly loan payments and minimum salary you would need to live comfortably and repay your loans after graduation.

Next week, I’ll continue on this topic by addressing some financial aid FAQs. In the meantime, don’t hesitate to approach your mentor with your questions or send an email to khannon@summitps.org. We know that financial aid is complicated and we’re here to help!

Respectfully,


Ms. Hannon
Director of College Readiness
khannon@summitps.org

Upcoming Dates and Deadlines
    
May 1 National College Signing DayDeadline to enroll for most 4 year colleges. 
May 14 UC Analytical Writing Placement ExamCheck your portal and email if you have been admitted to a UC to see if you need to take this placement test. 
   

Dreamers Roadmap: A New App to Help Undocumented Students Find Scholarships

A new app to help undocumented students find scholarship money is launching today! You can check it out at http://www.dreamersroadmap.com/
 

Scholarship Opportunities

LendEDU Scholarship
Who can apply: high school senior with at least 2.5 GPA
Amount of the award: $1,000
Information/Application: LendEDU Scholarship
Deadline: April 15, 2016

Frank Merino Award Scholarship
Who can apply: high school seniors with at least 3.0 GPA
Amount of the award: varies
Information/Application: Merino Scholarship Application
Deadline: April 29, 2016

AMVETS National Scholarships
Who can apply: high school seniors who are children or grandchildren of active military or veterans
Amount of the award: $4,000
Information/Application: AMVETS.org
Deadline: April 30, 2016

PFLAG National Scholarship 
Who can apply: high school seniors who identify as LGBT or allies
Amount of the award: varies
Information/Application: PFLAG Scholarship
Deadline: April 30, 2016

Toptal STEM Scholarships for Women
Who can apply: all female students 
Amount of the award: $5,000
Information/Application: Toptal STEM Scholarships
Deadline: 1 winner a month chosen now through November 2016
Changing Education, Changing Lives
www.summitps.org

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