I got in, but where do I go?

I know you've completed your FAFSA/other Financial Aid Forms and acceptance letters are rolling in from your colleges of choice. YAY, you! 

It's time to REALLY start thinking about $$$ and your final decision on where to attend college. It can be a bit overwhelming, right?! 

I'd suggest watching and reading through this information. It lays the ground work for what you'll see from the schools where you've been accepted. You'll also learn how to compare and contrast your aid packages to make the best choice for your college experience! 

The "financial fit" of your college is a HUGE factor! You'll want to make a choice that you can afford throughout the length of your degree without causing overwhelming stress about $ or overwhelming debt that you'll be paying back well into your adult life. 

Once you have all of your award letters from your top schools, you can use this awesome tool to help you compare the awards. Just enter in the requested info and VOILA! 

The "Family Share of Cost" is what you'd be expected to pay for each college. Remember, just because something is less $ doesn't necessarily make it the best choice. But do consider our conversations about loans versus scholarships and other types of aid you do NOT pay back! 

Class of 2018! Why go to college?

Hopefully you're thinking about your future...What's next for you after high school? In about 9 months, you'll be a High School Graduate. Time is going to FLY between now and then. Be sure to make time to PLAN FOR YOUR FUTURE! Do your research and have conversations with the people who know you best (and some who don't!) about what your Future will look like. 

It's YOURS! 

Check out the content below from "The Common Application"

Maybe you're the first in your family to go to college. Maybe you're worried about the cost of tuition. Or maybe you're not a fan of homework and exams at the moment. If any of these ring true, you might be wondering, "Is college worth it?" In a word: YES. And here’s why:

College is the most valuable investment you can make in your future – both financially and personally. 

How Going To College Helps You Financially

Let's pretend that there are two versions of you: one with a high school diploma and one with a college degree. Can you guess which version will earn more money? 


Over the course of a lifetime, someone with a college degree will earn $1 million more than someone with a high school diploma.
 As for someone with a graduate degree? Their earning potential will be even higher. 


In the simplest of terms: higher education = greater financial stability. Money isn't everything, of course. But if you want to give yourself the best chance to earn a comfortable salary, a college degree is not optional; it's essential.

How Going To College Helps You Personally

Let's get back to those two versions of you: the one with a high school diploma and the one with a college degree. Can you guess which version will have a broader network of connections?

When you step outside of your comfort zone and onto a college campus, you enter a world filled with fresh faces, diverse backgrounds and various worldviews. In addition to sparking lifelong friendships, a college community broadens your horizons – fostering a period of self-discovery and personal growth.

College is about defying expectations, breaking the mold, and finding yourself. 

You have curiosity. EXPLORE IT.

Whatever intrigues you, college is your opportunity to pursue that interest at a deeper level.

• Enroll in classes and sign up for activities that excite you, without the structured limitations of your high school curriculum.
• Meet people from various backgrounds and cultures who have interests similar to and different from your own. They’ll introduce you to new interests you didn’t know you had.
• Become a part of an enriching campus community and ultimately realize that we live in a globally interconnected world – a concept that will spark your curiosity and stimulate your growth.

You have purpose. BECOME IT.

No matter how uncertain your future seems right now, college will show you that everyone has a role to play in our society, including you.

• Get exposed to a variety of professions and resources to help you discover the career path that matches your interests and motivates you to become the best version of yourself.
• Gain the skills and knowledge to become anything you want to be, while living independently and preparing for your future.
• Make a difference. Meet mentors and fellow student-leaders who compel you to contribute, inspire you to give back, and shape you into a stronger global citizen.

You have potential. EXCEED IT.

College is your key to increasing your economic mobility, unlocking your earnings potential, and shattering preconceived financial expectations.

Whether you dream of owning a home, traveling the world, or starting a family – your goals are attainable, but they require financial stability. Here's how your likelihood of achieving economic success improves with a college degree:

• A high school dropout can expect to earn $973,000 over a lifetime.
• Someone with a high school diploma can expect to earn $1.3 million over a lifetime.
• A worker with some college but no degree earns $1.5 million over a lifetime.
• An Associate’s degree-holder earns $1.7 million over a lifetime.
• A worker with a Bachelor’s degree will earn $2.3 million over a lifetime.
• Graduate degrees provide for even higher earnings. A Master’s degree-holder earns $2.7 million over a lifetime, a Doctoral degree-holder earns $3.3 million over a lifetime, and a Professional degree-holder earns $3.6 million over a lifetime.

Remember: An investment in college is an investment in yourself. 

FINANCIAL AID "HOLDS", College Decisions and Summer Opportunities

Hey, Seniors! Take some time to log in to your Student Hubs or Portals (Click here for some direction!) and your college emails. If there are documents or pieces of information missing, you'll have a HOLD on your account. This can prevent you from getting a Financial Aid Package ($$$), being able to register for orientation, and stop you from being able to register for classes.

Let's get these things FIGURED OUT!

In your portal, be sure to click on tabs regarding Financial Aid and look for Red Flags 🔺 or other 'warning' signs. Each college uses different symbols! Usually you'll also have an email letting you know there are issues with your Financial Aid Package. Sometimes, following the link in your email will take you to the right place to resolve the issue.

Metro State Financial Aid

Colorado Opportunity Fund - $ for College!

University of Colorado Denver Financial Aid 

Community College Denver Scholarship Assistance- $TILL AVAILABLE! 

If you are still deciding which college to attend, check this out for some questions to ask yourself as you decide. Remember to ask people who are important to you and know you well what they think! They may know or notice something about you and your college choices that you haven't thought of before!

If you are attending one of the schools listed below, click here to sign up for a Summer Institute. Your Colorado Challenge Advisor will help you with any issues on your account, registering for classes and just getting used to college in general! AWESOME! There will be FREE FOOD TOO! 😀

Adams State University
Community College of Aurora
Colorado State University
Colorado State University Pueblo
Community College of Denver
Metro State University
University of Colorado Denver

The Vocabulary of Finanicial Aid: A Glossary

The Vocabulary of Financial Aid: A Glossary 

Accreditation-

The US Department of Education recognizes that the school meets basic academic standards. Schools must be accredited to be eligible to participate in federal student aid programs. Make sure the schools you are considering are accredited! 

COA- Cost of Attendance

The total amount it will cost you PER YEAR to go to school. This number includes tuition and fees; room and board; and allowances for books, supplies, transportation, loan fees, and dependent care. It will include personal expenses, such as an allowance for the rental or purchase of a personal computer; costs related to a disability; and reasonable costs for eligible study-abroad programs.

DRN- Data Release Number
A 4 digit number given to you on your SAR (top right hand corner). It can be used to grant permission for your FAFSA data to be shared with other schools.

DEFAULT-
Failure to pay your loan according to the loan agreement or promissory note. There can be serious legal consequences of defaulting. Seek help before you choose to default!

DEFERMENT-
Postponing payment during which time interest does not accrue. You have to go through a process to request deferment. You can't just decide to stop paying!

DISBURSEMENT- 
Payment of federal aid funds to the borrower (usually the student- that's you!) by the school. This usually happens twice a year.

EFC- Estimated Family Contribution
The number used to determine your federal financial aid is based on the information you provide on your FAFSA.

FAFSA- Free Application for Federal Student Aid

FEDERAL STUDENT AID- 
This is financial aid provided by the federal government. You apply for the aid by completing the FAFSA. Grants, loans, and work study are all parts of Federal Student Aid. The money is to be used for college or career school costs at eligible schools.

FINANCIAL AID OFFER or PACKAGE-
The total amount of financial aid (federal and nonfederal) a student is offered by a college or career school. The school's financial aid staff combines various forms of aid into a “package” to help meet a student’s education costs.

FSA ID- Federal Student Aid Identification

INSTITUTIONAL AID-
Financial aid provided by the institution you are attending. This can come in the form of grants and/or scholarships for which you must submit applications.

INTEREST-
A loan expense paid to the borrower based on the interest rate and the remaining unpaid amount of the loan.

LOANS-
Money you borrow that must be repayed with interest.

PELL GRANT-
A federal grant for undergraduate students with financial need.

PERKINS LOAN-
A federal student loan, made by the recipient's school, for undergraduate and graduate students who demonstrate financial need. 

SAR- Student Aid Report
You'll receive a SAR after you've completed your FAFSA application. If you provided an email address, the link to your report will come via email. Provided there were no errors on or questions about your FAFSA, this will also include your EFC.

SCHOLARSHIPS-
Money awarded to you for your educational expenses that does not have to be repaid. Don't forget to APPLY for a pile of scholarships!

WORK STUDY-

You'll complete part-time work on campus as part of your federal student aid. The money earned will be used to pay your college expenses.

Don't forget to talk to trusted people in your life about financial aid decisions!