Financing Your Education at Georgia Tech

Right me too.

OK.

All right, excellent. I will go full screen.

Thank you all for taking the time to sit and view our financial aid presentation on financing your education at Georgia Tech. My name is Larry and I'm the customer service manager for the office of scholarships and financial aid. Please note that any information in this presentation.

Is subject to change, so for the most up-to-date information, we do recommend that you always either give us a call or email us. We will have information available later for that or visit our website at finaid.gatech.edu.

So what we're planning to talk about today are a few things related to the cost of attending Georgia Tech as well as the applications that are necessary. What kinds of aid are available for students? And most importantly, what deadlines do students need to adhere to to ensure that they are getting the most eight that is possible for them in each specific situation?

So first thing that we will look at is our cost of attendance. And Please note that this cost of attendance is going to include not just tuition and fees, but will also include housing, meal plan, another incidental costs that students may incur. So in the left you will see that the cost of attendance is listed for an in-state resident and then on the right you will see the costs of attendants as.

For an out of State resident.

Here are those incidental costs which could include books and supplies as well. It's personal expenses and, if applicable, loan fees. Do note that some of these costs, such as books and supplies, personal expenses, an even living and meal plan, cost may vary per student, and that is really going to depend on a few things such as the type of housing that a student chooses.

The type of meal plan, if at all, but the important thing with the cost of attendance to note, is that for any loans or any aid that is offered to a student, this set cost of attendance is going to be used for every student who is choosing to live on campus or who is living off campus, perhaps alone or with a roommate.

There are several types of aid that will be offered through the office of scholarships and financial aid at Georgia Tech, and these could include scholarships, grants, work programs such as federal work study, student loans and then loans that are taken out by parents.

Some important things to note here. The GT app we call this the Georgia Tech application for scholarships and financial aid that is going to be required for just about every student who is looking for any type of aid through Georgia Tech. The Fasa or free application for federal student aid is a requirement of students who may be seeking need based either institutional aid meaning through Georgia Tech.

Or any federal aid that could be need or non need based.

The CSS S profile which is offered through the College Board is something that we will consider only for first year students and only for first year. Students who do submit that to our office by January 31st of the year that they do plan to matriculate here at Georgia tag. We've already spoken about the cost of attendance, the FC known as the expected family contribution is a number that is calculated through the Fasa.

And it does not necessarily represent the amount that the family will pay, and federal financial need is the cost of attendance minus the expected family contribution or FC.

So first at Georgia Tech Merit based scholarships unfortunately are going to be very, very limited for incoming students in that really is a function of the very competitive nature of the applicant pool who does apply to Georgia Tech and these students who were admitted to Georgia Tech year over year. First of these is the stamps. President scholarship that is administered through the office of undergraduate admission. There is no separate application for that students.

Need only complete their application for admission to Georgia Tech by the early action. Deadline to be considered for that and then the hope and Zell Miller scholarship. SAR lottery funded scholarships that are available to Georgia residents who do meet certain criteria upon graduation from high school. Afew of the need based scholarship considerations that you may want to know about are the G Wayne Clough, Georgia Tech Promise Program.

And that is available to students who are Georgia residents who have a certain income based on a family of four. Those students are automatically identified by the office of scholarships and financial aid, and similarly to the stamps President Scholarship program. There is no separate application for that, and there are a number of institutional scholarships, and these are scholarships that are endowed by various people.

Or organizations who have given money to Georgia Tech. 4 scholarships for students who may have need an based on other criteria such as the major that they have chosen or also where they may hail from either here in the state of Georgia or throughout the United States.

A bit more here about the whole can sell Miller scholarships again. This is offered for Georgia residents who meet specific criterion. The Zell Miller scholarship will cover all tuition before a student in that is independent of the number of credit hours that they are registered for full time part time it does cover all tuition. The hope scholarship will pay around $256 per credit.

Our up to 15 credit hours. You should note that for both these Elan hope scholarships, the aggregate limit of credit hours that those scholarships will pay is 127 to remain eligible for the scholarships, you see that a Zell Miller scholar will need a 3.3 GPA in all of their college coursework to be eligible for Hope's student will need to maintain a 3.0.

An students may move between those two. So a Zell Miller scholar could come into Georgia Tech. And if they don't maintain that three point three, they may drop down to the hope scholarship. And depending on a few factors and you can contact our office to ask, it could be possible to regain that Zell Miller scholarship, and you will see here that we do maintain checkpoints at 3060 and 90 credit hours.

As well as after each spring semester for both the Szell scholars and the hope scholars.

After scholarships we will talk a little bit about educational loans that are offered there, a few different types. The main of those two are subsidized loans, an unsubsidized loans, subsidized loans will require some financial need, and that is generally going to be determined by information is found on the Fasa, specifically the FC, and possibly also information in the CSS S profile. Generally, these loans have a little bit better terms, such as.

Lower interest rate and the interest may be deferred until the student does graduate or leave college. Those could be federal loans and then we do have a number of institutional subsidized loans that are also low interest. An established by alumni. There are also what are known as unsubsidized direct loans in these would be available to any student who does meet the criteria to be federally eligible for loans.

And the difference between subsidized and unsubsidized is that generally unsubsidized may have a little bit higher interest rate and the interest does begin to accrue as soon as those loan funds are disbursed to the student we also have the federal direct parent loan this is the plus loan as we call it an that is available to parents to take out on behalf of the student so the parent is shouldering the burden of that loan.

And that loan can be taken out up to the full cost of attendance. Generally speaking, the subsidized and unsubsidized loans are going to be limited, and the amount of aid that the student can take out per year, whereas the federal direct parent plus loan can be.

Now we can out up to the full cost of attendance. Some students may also decide to pursue private or third party loans. There are a number of vendors who do service loans for students. We don't really have any specific lenders that we recommend, but if that's a route that you were interested in taking, you will want to shop around just for the best rates in the best terms through the many private loan lenders that do exist out there.

Now very important here will talk a little bit about the deadlines that are involved and one of the first things that may stop a student from receiving the full amount of aid that they may otherwise be entitled to or have available to them is not adhering to these specific deadlines, so you see that in this summer or fall students will apply for admission we.

Always recommend that students research outside scholarships and we will talk about that a little bit later on in a later slide, beginning in beginning to mid October. The FAFSA as well as the Georgia Tech 8 application in the CSS S profile will become available. We absolutely recommend that as soon as those applications become available that students do complete them. There are any number of things that may happen.

That could slow down an application, or there could be some other information that we require an we would hate. For that to be a reason that a student is not eligible for eight that is available to them. So we strongly strongly recommend that students do begin to complete these applications as soon as they are available and do not wait until January if at all possible to go ahead and get those started. So if you can get them done.

In the fall, that's going to put you in a better position than if you wait until the first of the year. I spoke earlier about the October 15th early action deadline. That is the deadline for the stamps president scholarship. We recommend that any student apply by that October 15th deadline in order to be eligible for consideration for those few full ride scholarships that are offered through the stance President Scholarship program.

You see, the regular admission decision deadline there and then we recommend we posted as January 15th for the last day to submit the various applications. But again, the sooner that you can do that it's just a better way to ensure that if anything should happen or there's any slowdown that you have ample time to get. All of those documents into US.

To finish the application process, January 31st is the priority deadline for incoming first year students to get all of their documents into us. Anything that submitted after January 31st. There is no guarantee, really, that a student will be considered for any institutional aid, so that is a very very important deadline and we stress it again and again.

Always consider and continue to research your outside scholarships and then early April we will release award notices and that will give you a few weeks to Mull over your words. Compare them to other institutions that you may have been accepted to so that you can make a decision by the national deposit deadline of May 1st.

In early April, we will begin to release those award notices, and we've talked about the different types of eight that may be available. Loans may be an option. Awards may include need based aid, but again that is going to be completely contingent on submitting all of your financial aid documents and required applications and necessary requirements by January 31st.

And again, you can see that we stress this. It's very important that you are considering outside scholarships and those are a great way to offset the cost of attendance and they will follow you where it's Georgia Tech that you decide to attend or another institution.

So if you're only interested in federal aid, here is what you would need to complete the FAFSA as well as the Georgia take 8 application.

If you were only considering hope and or Zell Miller, you would complete the Georgia Tech 8 application as well as the hope application as we call the GSF apes. You can access that at gafutures.org and that is administered by the Georgia Student Finance Commission. The benefit of doing the hope application through Georgia futures is that it need only be completed one time whereas the FAFSA is something that has to be completed.

Every year the CSS S profile is only done once for incoming students and the Georgia Tech 8 application does have to be completed yearly for all students who are wishing to receive a through Georgia Tech.

Some information here for the non residents. As you see there is a pretty big difference in the cost of attendance for a non-resident versus a Georgia resident, and here are some ways that we recommend that students may pursue to try and offset the cost of attendance. Though these are also very useful for Georgia residents as well. First, are co-ops an internship? Georgia Tech does have a very, very robust coop program.

And you can get more information on that by visiting the website of our Center for career discovery and development. These are jobs related to a student's major. They are available for all majors here on campus, and all of those Co-op positions are paid anywhere from $15.00 an hour on up to 2025 or even more based on a students experience. The student is not paying tuition while their Co op ING, so that's really way that they can offset.

The cost of attendance while they are on campus in taking classes. Additionally, the vast, vast majority of intern ships that are offered to students are paid internships. But internships may give students a little more flexibility as far as when they wish to work, as well as the possibility of taking classes while they're in turning. But again, I would defer to the Center for crew discovery and development. For more information on both of those programs we do.

Really push undergraduate research here at Georgia Tech and those are options not only to make extra money, but it could also be research for credit. Again available for every major. There are a number of part time jobs. These could be work study jobs which would have a need component, but there are many, many jobs on campus that are available to students on a part time basis that don't have a need component. And once again you see that we are always pushing an recommending.

And encouraging students to pursue outside scholarships whenever possible.

So to that point.

This place is to begin with outside scholarship research, certainly with your high school guidance counselor, we do have some information on our own website for outside scholarships GT alumni clubs. They have satellite.

Organizations of the Georgia Tech Alumni Association spread throughout the United States and in many cases these clubs will offer scholarships to Georgia Tech students from those areas who are planning to attend the Institute. So we recommend that you do check where you live. There is very likely to be an alumni club there and they may have scholarship funds available to students. And then Lastly, collegeboard.com is a great place to begin.

And fast Web.com similarly is a huge search engin that will house the many thousands of outside scholarships that are offered by various organizations and foundations and even individuals throughout the country. So we strongly strongly recommend that any student, regardless of need that they do pursue those outside scholarships because they can really, really help to offset the cost of attendance.

At Georgia Tech or wherever the student does ultimately decide to attend.

And I mentioned at the beginning of our presentation that this information may be subject to change. So for the most up-to-date information, please be sure to visit our website which is www.finaid.gatech.edu. We are also available either by phone or by email. Email is finaid@gatech.edu.

And our phone number is 4048944160 and when campus is open and available we do have open office hours available for walkins for anyone's current students perspective, students and parents from 8:00 AM to 4:30 PM Monday through Friday and we are located in the third floor of the bill. More student Success Center which is attached to.

The West side of the football stadium. So if you have any other questions we do welcome you to contact us through any of these various means and we will be happy to help you out. Thank you again for taking time to sit and view this presentation and here the information. And again, if you have any questions, please feel free to reach out to us.