800-734-4540 wpcu.studentchoice.org - Wright-Patt Credit Union, Inc.

Presented By: Melissa Hunt 

VP Client Relations & Education 

Credit Union Student Choice 

800‐734 

734‐45404540 wpcu.studentchoice.org

Average Annual Income 

• High School Diploma $32,552 

• Associate Degree $39,572 

• Bachelor’s Degree $53,300 

That’s $20,748 dollars annually 

Source: U.S. Bureau of Labor Statistics 2009 Annual Averages 



MINI COOPER 

7 Day Cruise in a 

Balcony Stateroom 

64GB iPad 



Before High School 

• Get involved in extracurricular 

activities 

• Volunteer & Community 

Service 

• Create smart study 

habits and focus on 

good grades 

• Start saving money 

Freshman & Sophomore 

• Explore career interests 

• Which colleges offer 

programs in your area 

of interest? 

• Continue smart study 

habits and maintain 

good grades 

• Continue saving money 



• ACT/SAT 

Junior Year 

• Apply for scholarships 

• Attend Financial Aid 

Nights, College Goal 

Sunday, visit colleges 



good grades 

• Continue saving money 

Senior Year 

• Apply to colleges 

• FAFSA (January 1) 

• Continue applying for 

scholarships 



good grades 

• Continue Saving Money 



• Is this an accredited University? 

• Does the school participate in Federal Student Aid? 

• Do I have the financial resources for this college? 

• Does the school offer the types of programs and 

courses I am interested in? 

• Do I meet admission requirements? 

• What is the job placement rate? 

• What are the graduation statistics? 

• Check with BBB or Consumer Protection Division of 

State Attorneys Office 



http://nces.ed.gov/collegenavigator 

Wright State University-Main Campus 

3640 Colonel Glenn Highway, Dayton, Ohio 45435 

General information: (937) 775-3333 

Website: www.wright.edu 

Type: 4-year, Public Awards offered: Bachelor's 

degree, Master's degree, Post-master's certificate, 

Doctor's degree 

Campus setting: Suburb: Large 

Campus housing: Yes 

Student population: 16,672 (12,772 undergraduate) 

Student-to-faculty ratio: 17 to 1 



http://nces.ed.gov/collegenavigator 

Additional Information Available: 

Accreditations 

Cost of Attendance (COA) 

Financial Aid Statistics Crime Statistics 

Graduation Rates 

Retention Rates 

Gender Statistics Programs 

Athletic Programs 

Race Statistics 

Admittance Requirements 

ACT/SAT Test Percentages 

Full Time/Part Time Percentages 



Application Process 

• Deadlines 

• Application Waivers 

• Varies By School 

– Courses and Grades - Class Rank - Test Scores 

– Essay 

– Interview 

– Extracurricular Activities 

• Quality over Quantity 

• Emphasize activities related to your major or 

career goal 

• Involvement with organizations 



Application Ethics 

• BE HONEST ABOUT…. 

– activities and accomplishments 

– disciplinarily infractions 

– Intended Major 

• Write your own essay 

• Once you have accepted an offer to attend, make 

other colleges aware 



We’ve Applied………….. 

We’ve Been Accepted…… 

Now What? 



Visit the FAO and talk to the FAA. 

Determine the COA. Can they help you 

fill out the FAFSA? As soon as you 

receive your SAR you will know your EFC. 

The school will receive an ISIR and send 

you an award letter. 

Now you’re ready to start your 

college career! 



• Award letter – Receive from college and states the type and amount of 

financial aid 

• COA (Cost of Attendance) – Includes tuitions, books, lodging, meal 

plans, misc exp 

• EFC (Expected Family Contribution) – Number used to determine your 

eligibility for federal student financial aid. 

• FAA (Financial Aid Administrator) – Person who works at the college 

and is responsible for communicating information on aid 

• FAO (Financial Aid Office) – Office within the college that houses the 

FAA and staff 

• FAFSA (Free Application for Federal Student Aid) – Application that all 

students must complete to qualify for financial aid 

• ISIR (Institutional Student Information Record) – School receives from 

Government. School uses this information to determine aid. 

• SAR (Student Aid Report) – Received from Government – contains 

information from FAFSA and lists your EFC 



Free Application for Federal Student Aid 

• Federal deadline is January 1 st of current school term 

through June 30 th of ending school term. Check with 

your college for State and School deadlines 

• Apply on-line (recommended) or through mail 

• First time users fill out FAFSA worksheet 

• Apply for a PIN (student and parent) 

• Must apply annually 

Beware of scams! 



• Submit the FAFSA 

– Online 2-3 weeks to process 

– Paper 4-6 weeks to process 

• Student receives SAR (Student Aid Report) 

– Summarizes info on FAFSA 

– Provides EFC (Expected Family Contribution) 

• School receives ISIR 10 to 14 days after FAFSA 

submitted (Institutional Student Information Record) 

– Summarizes information on student’s FAFSA 

– All schools listed on FAFSA receive 

– School uses information to determine student’s 

financial need 



• School sends Award Letter to student 

– Financial aid award package 

– Sent directly to student 

– Review and decide which awards to accept 

• Unmet need 

– Explore other types of financial aid 

– PLUS Loans or Private Loans 



• Scholarships & Grants 

• Federal Work Study Program 

• Borrowed Money 



Federal Grants – Range from $100 to 

$5,550 

• Awarded to students with exceptional 


– Federal Pell Grant 

– Academic Competitiveness Grant 

– National Science and Mathematics 

Access to Retain Talent Grant 

(SMART) 

– Teach Grant 



Scholarships – Amounts Vary – Begin applying as 

early as 11 th Grade 

• Awarded based on need or merit 

• Awarded for a variety of reasons: academics; 

sports; extra-curricular activities; community 

service; hobbies; writing skills 

Resources include 

• High School Guidance Counselor / Church / 

Employer / Internet / College financial Aid Office / 

Community Organizations / Library 



• Follow instructions 

• Reference Letters 

• Community Involvement 

• Charity Work 

• Job History 

• Essays (TEE) 

Beware of scams! 



• Free money – kind of! 

• Provides jobs to student with 


• Paid at least minimum wage 

• Jobs are at college and/or related to 

student’s field of study 



Federal Perkins Loan 

– Awarded to students with exceptional financial 

need 

– Government pays interest while in school 

– Fixed interest rate of 5%, no origination fee 

– Pay back directly to the school 

– Loan term up to 10 years 

– Grace period is 9 months 



Stafford Loans 

FDLP (Federal Direct Lending Program) 

Subsidized 

• Based on need 

• Government pays 

interest while in school 

• 3.4%* interest rate, 

1.5% origination fee 

Unsubsidized 

• Not based on need 

• Students are 

responsible for interest 

• 6.8%* interest rate plus 

1.5% origination fee 

Effective July 1, 2011 ‐ Subject to change annually. 



Subsidized 

Freshman 

$3,500 

Sophomore 

$4,500 

Juniors & Seniors 

$5,500 

Unsubsidized 

Dependent Student 

Freshman $5,500 

Sophomore $6,500 

Juniors & Seniors $7,500 

Independent Student 

Freshman $9,500 

Sophomore $10,500 

Juniors & Seniors $12,500 

Effective July1, 2011. Subject to change annually. 




• > 24 years old 

• A graduate or professional student 

• Married on the day you applied for aid 

• A veteran 

• A member of the armed forces 

• An orphan 

• A ward of the court 

• Has legal dependents other than spouse 



Dependent Student 

• < 24 years old 

• Does not meet any of the criteria listed for an 




University of Success 

Cost of Attendance 

$20,000 

Expected Family 

Contribution $5,000 

State Scholarship Grant $1,500 

Institutional Grant $3,500 

Federal Perkins Loan $1,500 

Federal Direct Loan $5,500 

Federal Work-Study $2,000 

Total Award $14,000 

Unmet Need $6,000 



• Savings Account 

• Retirement Account 

• 401K Plans 

• Home Equity Loans 

• Credit Cards 

• Private Loans 

– PLUS 

– Credit Union Student Choice 

– Other 



Parent Loan for Undergraduate Students (PLUS) 

– Direct 

– Bridges the gap between education and 

financial aid 

– Available to parents of dependent students, 

graduate and professional students 

– Borrowers are subject to a credit check 

– Fixed interest rate of 7.9%, plus 4% origination 

fee 

– Limit is the COA less any other Financial Aid 

– Payments begin 60 days after loan is 

disbursed 



WHAT TO CONSIDER 

– Index Used 

Prime or LIBOR 

– Spread 

– Floor 

– Origination Fee 

– Repayment Terms 

– Borrower Benefits 

– Co-Borrower Options 

– Payment Options 



• Up to $75,000 

• No Origination Fees 

• 48 Month Co-signer Release 

• Up to 25 year Repayment 

• Interest Rates as low as 6% 

• Graduated Repayment 

• Payment Options 

– Full Deferment 

– Interest Only 

– Principal and Interest 



Thank you for attending!

800-734-4540 wpcu.studentchoice.org - Wright-Patt Credit Union, Inc.

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