Financial Aid/Revised July 2011
7th Advisement Activity
Estimated time: 30 Minutes
Georgia Teachers-As-Advisors Framework
Goal 8-1.3 - Use accurate, current, and unbiased career information from the local, state, and national levels during the career exploration and planning process.
a. Locate and utilize career information that includes occupational, education and training, employment, and economic information.
Objectives:
· Students will gain a basic understanding of the types of financial aid available for pursuing postsecondary opportunities and understand that some aid is FREE while some is not FREE.
Materials:
Handout: “Financial Aid/FREE or NOT” /Optional thinking map (tree) can be printed on the back of the handout to save paper and can be inserted in the discussion. Optional: Georgia’s HOPE PROGRAM FY 2011-12 brochure. School can order from GAcollege411 at https://www.gsfc.org/gheac/order_loan/index.cfm . The site limits one to 200 brochures; therefore it may take several instructors ordering brochures to get the amount needed for all 7th grade students. Another option would be to print the brochure (2 pages) from Gacollege411 for students in each advisory.
Activity:
1. Say: So today, we are going to talk about the cost of your education after high school usually called “FINANCIAL AID”. Your postsecondary education choice is a significant investment of your money and your time. It’s important that you make the right choice so that your time and money are well spent. Education is an investment in your future! Distribute the handout. Say: Some students receive some financial help from their families. Others must depend on loans to pay for higher education. Others have saved. Georgia has a special savings program. It is called Georgia College Savings Plan. You can find more information about this program at www.GAcollege411.org. or www.path2college529.com. Tell your parents about this savings plan and show them the how to access Gacollege411 to get more information. The more you save the less you have to borrow! Write the work SAVINGS on the board or flip chart. SAVINGS is FREE money. Or work very hard to get a scholarship!
2. Say: In addition to the savings plan Georgia has a special program called the HOPE program. Each year you will learn more and more about the HOPE program. For now let’s discussion different types of financial aid. What is a scholarship? Write the work SCHOLARSHIP on the board or flip chart. Entertain discussion. Then say: Scholarships represent money one can get to pay for higher education. A scholarship can be partial or a full scholarship. That means you can get all your college expenses paid or just part of it. It is FREE money that you don’t have to re-pay. However, to get a scholarship you usually have to be really good at something. Many times you have to have great study habits so you can make really good grades. Most scholarships require that you meet some type of criteria to be considered like have a GPA or 3.0 or 3.7 like Georgia’s HOPE scholarships. Other awards may be based on artistic or athletic talent, major or hobbies.
3. Say: Grants (Write the word GRANT on the board or flip chart) are gifts of money usually awarded by the institution to which you apply. Your parents’ ability to pay could be a factor in receiving a grant. We call these type grants need-based grants. For example some students will qualify for a federal government grant called the PELL GRANT. That award is based on your family’s income. Grants do not have to be re-paid they are FREE and they don’t all require that you be needy. Some grants like the HOPE Grant require you graduate and seek a diploma or certificate usually at a technical college in programs like Automotive Service Technology.
4. Say: Financial Aid is a process that you complete with the school to which you are applying. There is a form that your parents fill out, called the Free Application for Federal Student Aid (FAFSA). This is submitted to the postsecondary school who determines what that school will give you or offer you. You and your family will learn more about this application later.
5. Say: You may have heard your parents talking about paying their house payment or their car loan. This is a monthly amount that is predetermined when the loan is made. Loans (Write the word LOAN on the board or flip chart) are generally given by banks and financial institutions for large amounts of money that is needed immediately by a person who does not have that amount readily available. The bank will loan you the money with the understanding that you will be able to pay the money back in the future. As a student you may not have the amount of money now to pay for your education, but the bank is confident that when you graduate from your postsecondary institution you will have a good paying job and will be able to pay the money back to the bank. Because the bank is lending you money, they charge interest, a percent of your loan that you must pay the bank as a fee. So, you will pay back the loan and the interest on the loan for as long as you are paying back the money to the bank. Depending upon the postsecondary program you choose, the monthly payment on your college loan may be an amount that you can pay based on your occupation, or it may become an obligation that significantly cramps your style. Just remember, loans MUST be re-paid. A loan is NOT FREE!
6. Say: I have written four words on the board/flip chart: SAVINGS, SCHOLARSHIPS, GRANTS and LOANS. Now based on what I have told you, what is the primary difference between them? Savings, scholarships and grants do not have to be re-paid. Loans do! Which is better? What must you do to get a scholarship? Learn about them, and then do what the scholarship expects you to do!!!!
7. Dismiss: There is a postsecondary program for everyone. That is why it is important for you to plan ahead. It is true, you should “Begin With The End In Mind.” If you plan to do your best when you enter high school, you will significantly increase your chances of receiving the HOPE Scholarship and grants to pay for your education. Remember, a penny saved is one less penny you might have to borrow! Go to www.GaCollege411.org under the tab FINANCIAL AID for more information of ways to finance your education. It’s worth it. See you next time we meet.
NOTE for instructors: Gacollege 411 offers a brochure, Paying For College #H-07. If you would like additional information regarding the financial aid process, you can access this brochure at the “Communications” file at the bottom of the Gacollege411homepage. Go to Print Materials, Order Brochures. You can download that brochure, Paying For College #H-07 (4 pages)
Financial Aid/FREE or NOT!
SAVE---Georgia College Savings Plan. You can find more information about this program at www.GAcollege411.org. or www.path2college529.com. Every dollar saved might be every dollar you don’t have to borrow!
HOPE---For the HOPE scholarships (seeking a degree), you will need a cumulative GPA of 3.0 on a 4.0 scale in academic credits attempted; For the ZELL MILLER scholarship (seeking a degree), you will need a 3.7 GPA and score at least 1200 on SAT or 26 on ACT, meet all the HOPE scholarship requirements, OR be the valedictorian or salutatorian; For the HOPE grant (seeking a diploma or certificate) must maintain a 3.0 GPA in HOPE grant coursework
Thinking map (optional)
Directions: Fill in the map as we discuss the different types of financial aid.
Georgia Department of Education
John Barge, State Superintendent of Schools
Revised July, 2011 • Page 1 of 4
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