FINANCIAL AID SOURCES

There are primarily three types of financial aid: scholarships and grants, loans, and employment. It is important to understand the difference between each of these forms of aid and the responsibilities incumbent upon the students who use the money from them.

¨ SCHOLARSHIPS AND GRANTS are outright gifts that do not have to be repaid. Obviously this form of aid is the best kind to receive. Usually some level of financial need must be demonstrated by filing the FAFSA, but this is not always necessary. Aid may be given based strictly on academic achievement, a particular talent, or a combination of both. The strength of the student’s curriculum, grade point average over four years of high school, and ACT, SAT, and achievement test scores are all important in determining academic achievement. Athletic prowess, talent in music, art, drama, or debating skills may all translate into scholarship money at a particular school. The program and endowment funds at each school dictate to some extent, the availability of scholarship money and grants to students.

¨ LOANS are money that is borrowed by the student to be repaid after graduation. Although students must be cautious about borrowing more money than can be comfortably repaid after college, the colleges look upon loans as an appropriate way for students to invest in their own future. The college major chosen by the student may have an impact not only on how much money may need to be borrowed, but also on the earning power the student will have in order to pay back the debt.

¨ EMPLOYMENT is often offered as part of a work study program funded by the federal government, or private employment may be found either on or off campus. College work-study programs require that a financial aid form be filed and financial need be demonstrated.

The sources for the three types of aid can be grouped into four categories: colleges, the federal government, state government, and private sources.

· COLLEGES - Colleges themselves provide all three types of aid (scholarships, loans, and employment) from their own funds, while at the same time acting as agents for channeling certain federal and state awards to students. Generally, private colleges cost more than public schools, but they have larger endowment funds from which to offer more scholarship money to students. Most colleges offer scholarships based on academics or a particular talent, and many departments within a college offer scholarships for students who will be majoring in that particular area. Every school varies as to how much money they have available to offer students and what areas they emphasize in recruitment. It is essential that each student contact the financial aid office at the schools to which they are applying and find out what scholarships they may be eligible for and what types of financial aid are available. Many schools have deadlines on scholarship applications that are relatively early, so each student must be responsible for meeting deadlines and gathering information on financial aid at the schools to which they are applying.

· THE FEDERAL GOVERNMENT - Our government has six large federal financial aid programs. Two of these give grants: the Federal Pell Grant and the Federal Supplemental Educational Opportunity Grant (SEOG). Three give loans: The Federal Stafford Loan (formerly known as the Guaranteed Student Loan), the Federal Perkins Loan (formerly known as the National Direct Student Loan), and the Federal Parent Loan for Undergraduate Students (PLUS). The sixth is a student employment program called Federal College Work Study (CWS). Each of these programs is described in the glossary in part II of this booklet.

In addition to these programs, the federal government sponsors two other scholarship opportunities:

· RESERVE OFFICER TRAINING CORPS (ROTC) scholarships are available at selected colleges for all branches of the armed services. Applications for these scholarships may be obtained through the recruiting offices of each service, and they need to be completed during the fall of the senior year in high school. Cadets are selected on academic record, activities and leadership, and evaluations and recommendations of high school faculty.

· ROBERT C. BYRD HONORS SCHOLARSHIP PROGRAM is a federally funded program to reward academic excellence in education. It is a $1,500.00 non-renewable scholarship based on outstanding academic achievement. Students must have a composite ACT score of at least 31, a seventh semester GPA of 3.75, and apply for admissions to an institute of higher learning.

· THE STATE GOVERNMENT - The Kansas Student Assistance Program is sponsored by the Kansas State Board of Regents. Students must complete the Kansas Student Aid application for most of these awards.

· THE KANSAS STATE SCHOLARS PROGRAM recognizes outstanding Kansas high school seniors. All scholars must have completed the Kansas Board of Regents Recommended curriculum. Designation by the Kansas Board of Regents as a State Scholar is based upon an index that mathematically combines the ACT score and GPA. Designated scholars are notified by March 2005. Up to $1,000.00 per year for four years may be given if the student demonstrates financial need. Students must complete the FAFSA and the Kansas Student Aid Application.

¨ THE KANSAS ETHNIC MINORITY SCHOLARSHIP PROGRAM provides a $1,500.00 renewable scholarship to minority students demonstrating scholastic ability and financial need. Students must submit the FAFSA and Kansas Student Aid Application. Students must have a minimum cumulative score of 816, or rank in the upper one-third of their graduating class. Students must complete the Board of Regents curriculum and be designated a Hispanic Scholar or a National Merit category winner.

¨ THE KANSAS NURSING SCHOLARSHIP PROGRAM was created to address the nursing shortage in Kansas. Scholarships ranging up to $3,500.00 will be provided to students who will commit to practice one year with a medical care provider for each year of scholarship assistance received. Scholarships will be awarded to applicants with the greatest financial need. Recipients must be admitted into a Kansas nursing program and locate a sponsor who will provide full-time employment after licensure.

¨ KANSAS TEACHER SCHOLARSHIP - This program is for students who are committed to teaching in Kansas in a specified curriculum. Students must complete the Board of Regents curriculum. ACT scores, GPA, and class rank are used for selection. The award is $5000.00 per year, renewable.

¨ THE VOCATIONAL EDUCATION SCHOLARSHIP PROGRAM was established by the 1986 Kansas Legislature. The purpose is to recognize Kansas residents who demonstrate exceptional ability and aptitude in the area of vocational education. Designated scholars may apply for a stipend of up to $500.00 per year for a maximum of two years. In order to become a vocational scholar, a student must request a registration packet for the Differential Aptitude Test from the high school guidance office or any Kansas Vocational-Technical school. They must then take the DAT at one of the designated test sites on the first Saturday in November or March. These are the only two test dates. Students with high test scores will be designated as vocational scholars and notified by May 1. An application for the stipend will be mailed to each designated scholar. This application must then be returned and all winners will be notified of their award by July 1. The stipend must be renewed for a second term, and students may attend any eligible post-secondary institution operating a vocational education program in the state of Kansas.

¨ REGENTS SUPPLEMENTAL GRANT - This grant is for students attending Regents institutions. It is based on financial need and is worth up to $1,000.00 per year.

¨ THE TUITION GRANT PROGRAM provides non-repayable grants to Kansas residents who attend eligible private Kansas colleges. The maximum tuition grant is $2,000.00. Grant stipends are based upon financial need, and renewal of the Tuition Grant requires students remain in good academic standing. Applicants must turn in the FAFSA with the school code for the university they plan on attending.

¨ PRIVATE COLLEGES ELIGIBLE UNDER TUITION GRANT:

Baker University (Baldwin) Benedictine College (Atchison)

Bethany College (Lindsborg) Brown Mackie College (Salina)

Central College (McPherson) Donnelly College (Kansas City)

Friends University (Wichita) Hesston College (Hesston)

Kansas Newman College (Wichita) Kansas Wesleyan College(Salina)

McPherson College (McPherson) Mid-Am. Nazarene College (Olathe)

Ottawa University (Ottawa) Saint Mary College (Leavenworth)

Southwestern College (Winfield) Sterling College (Sterling)

Tabor College (Hillsboro)

IV. PRIVATE SOURCES - This is the largest category for financial aid, and it includes colleges, companies, organizations, special interest groups, and university departments. Most require the filing of the FAFSA and the demonstration of some financial need, but many scholarships are available that do not have that requirement. Don’t assume that you do not qualify for any scholarship based on financial need. There are many factors taken into consideration other than income. Some of these factors include number of family members attending a post-secondary school, debts, cost of the school you plan to attend and personal extenuating circumstances. You’ll never know what you can receive in the way of financial assistance unless you apply for it.