Types of financial aid what is financial aid?



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  • ~ Our Mission Statement ~ “The Office of Student Financial Aid & Scholarships provides comprehensive financial assistance to students seeking a higher education."

TYPES OF FINANCIAL AID

  • What is financial aid?
    • Scholarships
    • Grants
    • Work Study
    • Loans

APPLYING FOR FINANCIAL AID

  • Apply for scholarships on www.applytexas.org.
  • Complete the FAFSA after January 1 (www.fafsa.gov).
  • TTU scholarship deadline is February 1.
  • Research and apply for external scholarships.

THE FAFSA

  • Determines eligibility for federal student aid.
  • May also be used to determine state and institutional aid.
  • Requires income information for most recent tax year (2015 for the 2016-17 FAFSA).
  • Calculates financial need based on certain factors, including (but not limited to) income, household size and number in college.

TEXAS TECH 2015-2016 COST OF ATTENDANCE (Resident)

  • Tuition and Fees
  • Room and Board
  • Books and Supplies
  • Transportation Costs
  • Miscellaneous Expenses
  • Total Cost of Attendance
  • Loan fees
  • Study abroad costs
  • Dependent care expenses
  • Expenses related to a disability
  • Expenses for cooperative education program
  • $ 9,866
  • $ 9,384
  • $ 1,200
  • $ 2,300
  • $ 2,120
  • $ 24,870
  • DIRECT COST TO THE
  • STUDENT $20,450

SCHOLARSHIP TIPS

  • Apply for anything and everything!
  • If you are receiving numerous emails from scholarship searches, set up a scholarship-only email account.
  • Research your field of study. Check websites of individuals or companies that are leaders in that field of study.
  • Check websites of major companies for scholarship opportunities.
  • Check with organizations that you or your family may belong to, such as AMBUCS, Lion’s Club, churches and employers.
  • Keep your resume, essays and letters of recommendation updated and in an easy-to-access location.

SCHOLARSHIP RESOURCES

  • www.scholarships.ttu.edu
  • www.fastweb.com
  • www.nerdwallet.com/nerdscholar/scholarships
  • www.scholarships.com
  • www.petersons.com/college-search/scholarship-search.aspx
  • https://bigfuture.collegeboard.org/scholarship-search
  • Colleges, departments and organizations on your campus
  • Local/civic organizations
  • Various companies

EXTERNAL SCHOLARSHIP EXAMPLES

  • American Fire Sprinkler Association Scholarship Program
  • Annual Create-A-Greeting-Card $10,000 Scholarship Contest
  • Asparagus Club Scholarship
  • Copyright Awareness Scholarship
  • International Dairy-Deli-Bakery Assn. Undergraduate / Graduate Scholarship
  • Kor Memorial Scholarship and Starfleet Academy Scholarship
  • Llama Association

EXTERNAL SCHOLARSHIP EXAMPLES

  • Minnesota Soybean Ambassador Program
  • National Candy Technologists Scholarship
  • National Marbles Tournament Scholarship
  • Slam What You Will Poetry Scholarship
  • “Stuck at Prom” Scholarship
  • Tall Clubs International Student Scholarships
  • Theodore Gordon Fly fishers Fund Scholarship
  • US Bowling Congress Chuck Hall Star of Tomorrow
  • Vegetarian Resource Group Scholarship

IMPACT OF SCHOLARSHIP DOLLARS

  • “Cindi”
    • Direct Subsidized Loan: $3,500
    • Direct Unsubsidized Loan: $2,000
    • Parent PLUS Loan: $6,000
    • Federal Pell Grant: $3,000
    • Scholarship received: $6,000
    • Total financial aid for 2015-16: $20,500
    • Financial aid for fall 2015: $10,250
    • Approximate charges for fall 2015: $10,000
    • Expected refund $250

IMPACT OF SCHOLARSHIP DOLLARS

  • “Billy”
    • Direct Subsidized Loan: $3,500
    • Direct Unsubsidized Loan: $2,000
    • Parent PLUS Loan: $6,000
    • Federal Pell Grant: $3,000
    • Scholarship received: $0
    • Total financial aid for 2015-16: $14,500
    • Financial aid for fall 2015: $7,250
    • Approximate charges for fall 2015: $10,000
    • Expected shortfall ($2,750)

CONTACT INFORMATION

    • Billy Tiongco
    • billy.tiongco@ttu.edu
    • Student Financial Aid & Scholarships
    • 301 West Hall
    • Lubbock, TX 79409
    • 8:00-4:30 Monday-Friday
    • (806) 742-3681
    • (806) 742-0880 fax
    • www.financialaid.ttu.edu
    • www.scholarships.ttu.edu
  • @TTUFinancialAid
  • Texas Tech University Student Financial Aid and Scholarships


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