Future Guidance Project: Financial Aid
Brittany Seymour
High Tech High North County
Mr. Hensley
May 11 2014
Page 1: Part I: Opportunity
- Personal/Professional Statement
- Summary of Reach School
- Summary of Wheelhouse School
- Summary of Safety School
- Summary/Reasoning of interest in Major 1
- Summary/Reasoning of interest in Major 2
- Summary/Reasoning of interest in Major 3
- Overview of Potential Career #1
- Overview of Potential Career #2
- Overview of Potential Career #3
Page 2: Part II: Expenses
- University Forecasted Freshman Expenses
- College Scorecards (x3)
- Reflection comparing/contrasting Scorecards
- Net Price for College (x3)
Page 3: Part III: Paying for it
- FAFSA Checklist
- Need-based Summary
- Detailed Loan Overview
- Loan Reasoning Response
- Merit-based Aid Summaries (x3-5)
- No-loan Aid Interest Statement
Page 4: Part IV: Paying it back
- Repayment Plan Choice and Defense (x2)
- Total Cost Summary Response
- Summative, Reflective Conclusion
“Tell me about yourself”
After leaving a small private school with only forty kids from K-8. I applied to attend High Tech High North County. In a way I was excited but mostly devastated that I was never going to be in a real public school. I started going to private school since second grade. Although I was immune to the small school I wanted to experience something different. Praying to god that I wouldn’t get into High Tech High, I Ended up showing up to High Tech on the first day. After looking over it all I noticed that I was able to adapt well to different environments and groups of people. I was able to adapt to a unique teaching style. After learning new ways of doing homework and turning it in, it was as if I went to the middle school. One of my main skills that I brought from my private school to High Tech was memorization. At my private school we had to do lots of memorization with the Bible, hymnal, and play scripts. This skill was used for SLC and POL presentations and many language test. I am glad that I ended up at High Tech because I have a solid group of friends and love the way we are taught. I believe that I learn more from this school than if I went to a public school.
Wheelhouse School
My wheelhouse school that i would like to attend is University of Washington. I visited Washington over intercession last year and loved the weather! It was a beautiful, green campus. The campus is gorgeous and offer some interesting classes. I think it would be a great place to meet new people. I also have a family member that lives up there and would be cool to see her there. Socially I would like to attend UW because of the sports. Not only do I love playing them but I think it is a great way to meet new people. I think it’s a great healthy environment to meet new people.
Safety School
Uc santa cruz is my safety school. It has a rate of 82% applicants admitted. It is still close to home but gives me a good distance. I also think it would be great due to it’s weather and distance to the beach. I would think it would be a good college because of my interest in marine biology.
Dream College
My dream college is USC. The reason why is because it is close to home but not super close. I don’t want to be too far from home and I want to stay semi local for the great weather and family. I also would love to attend USC because of its great social aspect. Sports, greek system and meeting new people.
Major #1- Marine Biology
I am very interested in marine biology and all the living things in the ocean. I would love to explore it deeper and even learn how to scuba dive. I think it would be awesome to dive for different species. Not only finding new/different species but learning how they could live so deep or alone etc... I love swimming in the water and don’t mind the cold. I am very adventurous and can see my career path somewhere along it some time. Marine Biology would not only be a great subject to learn but California colleges have top classes for Marine Biology.
Major #2- Forensic Sciences
Forensic Sciences has always been an interest to me. It started from watching all the NCIS and Criminal Minds show. I at first wanted to be a patrol officer and move my way up into different positions. But after learning from experience and looking into it further you could get paid more and be safer as a forensic specialist or a Juvenile Justice Advisor. Even if I don't end up going through with being a forensic specialist it could be used in any job in law enforcement. I think it would also be interesting to learn a little more about psychopaths or DID. (Dissociative Identity disorder)
Major#3- NeuroScience
Although all my majors have a background in Sciences I feel like they can't definitely be separated and picked out why they are so different. NeuroScience interests me because I feel like I could connect it through Forensic Science through law enforcement learning about THIS or psychopaths. I am very interested in how your mind could be tweaked a little different than others and it totally changes your life in the future. By tweaked I mean raised differently weather it was through an abusive home or just foster care without a stable parent. If I ended up not wanting to connect it through law enforcement I could switch gears into the medical field and find it useful in a whole another way.
Potential Careers:
Part 2
Wheel House School
Freshman Year Expenses (non residential)
Tuition: $31,971
Room and Board:$ 10,752
Book and Supplies:$ 1,206
personal Expenses: $2,265
Transportation:$414
Total:$46,608
Safety School
Freshman Year Expenses:
Tuition & Fees- $13,398
Room & Board- $14,730
Book & Supply- $1,440
Transportation: $573
Personal expense- $ 1800
Campus HI- $2223
Total- $ 34,164
Dream School
Freshman Expenses:
Tuition: $45,602
Mandatory Fees: $761
Room and Board: 12,902
Book & Supply- $1,500
Transportation: $580
Personal expense- $ 900
Total- $ 62,245 ( add $350 for USC orientation fee for 1st semester)
College Scorecards
After looking over all of my schools college scorecards I noticed that they were all above 70% graduate rates. The lowest rate was 74.5% at UC Santa Cruz. Next was Washington which was 80.8% graduate rate. And the best percent rate out of them all was USC with a graduate rate at 90.2%. I believe that all of the schools are difficult but not to hard to make you want to drop out. Santa Cruz’s loan default rate is the highest. It is at 4.2% which means they are paying $227.03 per month. The second highest loan default rate is Washington which is at 3.9%. Which means they are paying $183.55 per month. The lowest is USC which comes out to 2.2%. Which means they are paying $310.72 per month. If you look at USC where loans are taken out the least it has a higher amount to pay per month than either of the schools. Which shows that USC is more expensive to attend.
Net Price Calculator
Part 3
FASA Checklist
- Need-based financial aid, such as government funded Pell Grants, which you don’t have to repay
- Merit aid, such as grants and scholarships from colleges, which you don’t have to repay
- State-sponsored financial aid
- Student loans, such as Perkins and Stafford Loans, and PLUS Loans for parent borrowers
- Work-study programs (a job on campus while you attend)
Needed Base Chart
College
Grant
Money Given
Student Loans
USC
Federal Pell Grant
$5,680
$5,500
University of Washington
Federal Pell Grant
$5,730
$5,500
UC Santa Cruz
Federal Pell Grant
$5,540
$5,500
USC
Cal Grant A
$10,302
$5,500
University of Washington
Cal Grant A
$10,302
$5,500
UC Santa Cruz
Cal Grant A
$10,302
$5,500
Detailed Loan Overview
(will not be accurate when I apply to loans because interest rates will change)
Year 1: USC Undergrad first year Full time
Direct Subsidized Loan: $3,500
Interest Rate: 6.8 %
Direct Unsubsidized Loan: Full time- 2,500
Interest Rate: 6.8%
Loan Reasoning Response
Comparing between the two loans I think it would be better for me to take Subsidized because will I am in school the government will be paying for the interest rate. So in the end it really doesn’t matter what the interest rate is, just as long I am in school and paying off the loan throughout school than I should be good. I also think this loan would work better because I will be an undergraduate in need for financial aid. I hope that my grace period is not to long because then I will have to start paying for the interest rates.
Merit Based Aid/Scholarships
Federal Supplemental Educational Opportunity Grant ProgramSponsor:
U.S. Department of Education
Type of Award:
Federal program, Scholarship
Closing Date:
Award Amount:
$100 to $4,000
Scholarship America ScholarshipsSponsor:
Scholarship America
Type of Award:
Private, Scholarship
Closing Date:
Award Amount:
$100 to $30,000
Western Undergraduate ExchangeSponsor:
Western Interstate Commission for Higher Education
Type of Award:
State program, Scholarship
Closing Date:
Listed above are the following scholarships that I believe would fit me well. The Federal Supplement Scholarship helps out people with low-income and gives a good sized Scholarship. The Scholarship America Scholarship its not a single scholarship but it offers scholarships like the first one I stated and gives out very large scholarships. On the last scholarship you have to apply early, it is a scholarship that qualifies everyone on the west coast.
No Loan Policy
University of Washington- I’m guessing that I will end up in Washington and through the college I can receive full tuition and fees *excluding room and board*. The same qualify percentage rate is around the same for the pell grant and or state need grant. Which means my family has to be earning less than or equal to 65%.
Part 4
Repayment Plan
I believe the best repayment plan for me would be the graduate repayment plan. The reason why I think this is because payment are lower at first and then it increases. With most of my career choices it takes a good amount of time to work your way up and make a decent salary. By choosing this choice it would not put too much stress on me to pay every month and once I get a job or a higher place in my job I could afford to pay more a month. I also choose this one because it was up to 10 years of repaying than 25 years. The reason why I choose this repayment plan over income contingent repayment plan is because you end up paying more in interest rates. I find that interest rates are a waste of money and if there is anyway to avoid it, I will do my best to do so.
My second repayment plan would be the standard repayment plan. It will be an even fifty dollars. It’s not a crazy amount to pay each month and it’s not too little. The reason why I would choose this as my second repayment plan is because I would pay less interest for it over time. It would only last up to ten years.
Total Cost Summary Response
All three of them end up cost around this much if not a little less. Most of the loans/scholarships I am estimating to receive. It will take me around 120 months if the scholarships are calculated correctly. My monthly payment will be $272 month. This isn’t to much due to the job I am estimating of getting. I will be independent probably sharing an apartment, so I won’t be too tight on money. In total borrowing this money will cost me less than $500 dollars. The reason why is because I will be using a Subsidized Loan which my interest rate will be paid for while I am in school. During my grace period I am required to pay for my interest rate and I am assuming that I will not be that long without a job which then I could end up paying of the rest of the loan. All of this sounds like a lot of work and I feel like you can get screwed with money very easily if you don’t understand different loans.
Summative, Reflective Conclusion
Something most striking about the finances in college is that you really have to prepare scholarships and loans if you don’t want to pay 100% of it. It’s sounds like a lot of work and it’s confusing why they charge so much for the college but then it ends up costing less than half. My ideas about affording college have definitely changed. I never thought I would be able to pay for college, especially with my mom being a single mom with four kids. I also wasn’t very motivated because I had an idea in my head that I didn’t really have any options. But after seeing all of these loans,financial aid,and scholarships I definitely have more hope for my future in the college world. Some financial challenges are that there will be two kids from my family starting college and my mom gets barely any child support and is working a low paying job. So I feel like it might just all end up on my back which I’m fine with in a way because I am the one learning I should be paying. I just need to make sure I have a job throughout college and work very hard to launch of my career right out of college. I think my salary will comfortably enough to pay off my loans but not to be able to spending without watching.