This month

Financial aid awareness

• Feature — How much is college going to cost?
• What does it mean? — Cost of attendance (COA)
• Stay on track — A checklist of "to-dos"
• Take notice — Important dates
• All about AIEmail — Subscribe, suggest, review

Feature

How much is college going to cost?

Figuring out what college will cost depends on many things — every case is unique. However, it's possible to begin to get an idea of what college may cost when your turn comes. When figuring costs, consider:

• Tuition and fees,
• Room and board,
• Books and supplies,
• Transportation, and
• Personal expenses.

Most technical schools, colleges, and universities can give you an estimate of the cost of attendance, or the information may be available on their Web site. To learn more about how to figure out the costs, visit AIE's "Pay for College" page (www.AIE.org/HighSchool/Paying). On the site you will find more information and tools you can use to figure out the price tag of attending a school.

Find cost of attendance estimates

If cost is a major consideration in determining what type of school you will attend, the following exercise can help you decide.

Pick several different types of schools that you are interested in, that your older friends and/or family members are attending or have attended, or that have been suggested by your counselor or a teacher. Try to select one school from each of the following types:

• A two-year technical, pre-professional, or vocational school;
• A two year public community college;
• A four-year public university; and
• A four-year private university.

Visit each school's Web site and look for "financial aid" or "student financial services." See if you can find each school's cost of attendance and write down each estimate on a grid. If the information isn't on the Web, call the financial aid office and ask them to e-mail or mail you the information.

It's also important to keep in mind that each college will provide a financial aid package of scholarships, grants, Work-Study, and/or student loans to help cover the cost of attendance. Even though the initial costs may seem higher for a particular college or university, the school may be able to award additional scholarships or grants that will make the ultimate cost comparable to other schools you're considering.

When you have completed the grid, compare the costs of different schools and talk with your parents, counselor, or a teacher about the differences in cost of attendance. If you have any questions, call and ask to speak to a financial aid counselor at each school — they can give you insight and offer more information. You can also get free information by calling the Toll-free Financial Aid Information Center (TFAIC) at (888) 311-8881.

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Web quest

Cost of attendance (COA)

The COA reflects the total amount it should cost a student to go to school, including tuition and fees, room and board, allowances for books and supplies, transportation, and personal expenses. Schools determine different standard budget amounts for students depending on whether they live on-campus or off-campus, are married or unmarried, and are from in-state or out-of-state.

Source: FinAid! (www.finaid.org)

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Stay on track

Checklist for this week

For freshmen

Have you set your new year's resolutions? Developing resolutions is similar to setting goals. Here are hints for making realistic resolutions:

• Review your fall extracurricular school activities. Did you balance your activities well with your study time? Were you over-involved or under-involved? Do you want to choose a new activity to join?
• Resolve to volunteer. Each community has many worthwhile programs that need volunteers.
• Read, read, read! Set aside 15 to 30 minutes each day to improve your reading skills and your vocabulary. Keep a notebook of unfamiliar words and record their definitions.

For sophomores

Take a little time to get organized for a great new year. Here are a few reminders:

• Go through your school notebooks and throw away papers that you will not need this spring. Remember to check with your teacher first.
• Start a file for important school papers. Include your report cards, PSAT and other test results, major tests, review sheets, and any notes that may help you with future tests.
• Check with your counselor to see if he or she will have a program to explain PSAT and other test results.
• Mark your planner with important upcoming school projects or events.

For juniors

Here's what you should know about your PSAT results:

• PSAT results are reported to your high school but they are not sent to any colleges.
• If your high school is having a program for you and your parents to explain the results, it is to your advantage to attend.
• The critical reading, math, and writing skills scores can range from 20 to 80. The average score for juniors is about 49.
• The selection index score, which is the sum of your critical reading, math, and writing skills scores, can range from 60 to 240. The average selection index score for juniors is about 147.

For seniors and parents

This month, fill out the FAFSA (Free Application for Federal Student Aid).

• Step 1 — Pick up this form at your high school guidance office. Both you and your parents must provide information to complete the form. Ideally, you should complete and submit the form by mid-February. You can file your FAFSA online at www.fafsa.ed.gov. Please make sure that you have applied for a PIN at www.pin.ed.gov.
• Step 2 — A Student Aid Report (SAR) will be sent to your home. The SAR notifies you of your Estimated Family Contribution (EFC) and will also indicate whether you are eligible for a Federal Pell Grant.
• Step 3 — The college financial aid office will compare the Cost of Attendance for their college to your family's EFC and review any additional information your family provided.
• Step 4 — You will receive a financial aid offer letter from each college to which you have applied for admission and financial aid.

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Take notice

Important dates

Mark down these dates.

To get more information on the SAT or SAT Subject Tests, access useful tools, or register, visit the College Board's Web Site(www.collegeboard.com) or call (609) 771-7600.

To get more information on the ACT, access useful tools, or register, visit the ACT Web Site (www.act.org) or call (319) 337-1270.

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All about AIEmail

Subscribe, suggest, review

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