Smart Money Moves

A monthly guide to Scholarships & Financial Aid: April 2019

In this issue, you will find:

  • How To Read Your Financial Aid Award Letter
  • Apply for Forsyth Tech Scholarships NOW
  • Fulton Carolina Medal - Opens TODAY!
  • Dean Smith Integrity Award - Opens TODAY!
  • Judy McCann Ball Memorial Scholarship - Opens TODAY!
  • Don't miss these Upcoming Crosby Scholarship Deadlines
  • Howard University Alumni Club Scholarship - Deadline April 22nd
  • DestinationCollege2019: Crosby Scholars Senior Newsletter
  • Have Financial Aid Questions?

How to Read your Financial Aid Award Letter

Financial aid award letters will arrive soon after you receive your college acceptances. You need to decide which school gives you the best award package, but comparing offers can be a challenge. Every letter includes different language, formatting and content.


What your award letter should include

No two financial aid award letters will look alike, but they should have:

A list of the financial aid types and amounts awarded

Your awarded aid could include federal, state and institutional grants, as well as federal work-study and scholarships. The list will also include the amount of subsidized and unsubsidized federal loans you can borrow and, often, a PLUS loan your parent or guardian can borrow for your education.


Your cost of attendance

The cost of attendance includes tuition, fees, and room and board for your first year. But it’s not complete. It doesn’t factor in everything you’ll pay for, or how many years you’ll attend.


Determine the true cost of college -- Find the net price

The net price is calculated as the cost of attendance, including additional expenses, minus grants and scholarships. You can use a net price calculator, available on every college’s website. The net price includes estimated additional costs like books and supplies, personal expenses and transportation.


Think beyond year one

Net price factors in the cost of only one year in school. It also doesn’t take into consideration tuition increases, which are likely, based on data from the National Center for Education Statistics. Multiply the net price by four to get the total minimum cost you can expect. As tuition increases each year, your costs will go up, but your financial aid might not.


Understand aid types

Here’s how to tell the difference among aid types in your award letter:


  • Grants and scholarships: Awards that do not have to be repaid. These can come from the federal government, your school or your state’s grant agency. They may be need- or merit-based.
  • Work-study: Money you can earn, typically at an hourly rate, that’s funded by the government. It isn’t guaranteed: You have to find a qualifying job that works with your academic schedule, and the amount on your award letter is the maximum you can earn.
  • Loans: Borrowed money you must pay back with interest. You borrow federal direct loans from the government. These loans often have lower interest rates and more borrower protections than private student loans. And, no credit check or co-signer is required.


How to compare financial aid awards

Once you grasp the cost and your financial aid options, you can more easily compare offers side by side to see which school will be the most affordable.


If you didn’t get as much aid as you hoped from a school, you can write a financial aid appeal letter or consider a less expensive school.


Remember, you don’t have to take all offered financial aid, but make sure to accept all free aid before borrowing money.


source: https://www.nerdwallet.com/blog/loans/student-loans/understanding-financial-aid-award-letter/

Forsyth Tech Scholarships - April 1 thru April 30

Attending Forsyth Tech? Hurry and apply for FTCC's Scholarships for the 2019-20 academic year.


The Scholarship application is entirely online and can be found here: https://forsythtech.academicworks.com/


Deadline is April 30!

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Crosby Scholars offers several scholarship opportunities specifically for Crosby Scholars Seniors. These scholarships were created with YOU in mind, so don't miss your chance for FREE money for college.


Don't wait -- APPLY today in your Crosby Scholars Student Portal! You may apply for as many scholarships as you are eligible for!

Fulton Carolina Medal - Opens TODAY!

The Fulton Carolina Medal, which was first awarded in 2006, provides one scholarship annually to a graduating Crosby Scholar senior with an exceptional commitment to volunteer service and who plans to enroll at the University of North Carolina at Chapel Hill. This award is in honor of Paul Fulton’s commitment to Crosby Scholars and to UNC Chapel Hill and to honor his inspiring record of service to individuals and to the larger community.


Eligibility

To be considered for this award, applicants must:

  • demonstrate an active and exemplary commitment to volunteer service
  • choose to enroll at the University of North Carolina at Chapel Hill
  • complete all requirements of the Crosby Scholars Program


Value

$1,500; renewable


Application Procedure

Students may begin applying April 01, 2019 and must submit a completed online application through their Crosby Scholars Student Portal by May 5, 2019.

Dean Smith Integrity Award - Opens TODAY!

The Dean Smith Integrity Award, first awarded in 2015, provides one scholarship to a graduating Crosby Scholar senior who exemplifies the virtues of integrity, loyalty, and open-mindedness and who plans to enroll at the University of North Carolina at Chapel Hill. This award is to honor the memory of Coach Dean Smith, his commitment to both the Crosby National Celebrity Golf Tournament and the Crosby Scholars Invitational Golf Tournament. This award also honors his inspiring record of leadership, service, and excellence.


Eligibility

To be considered for this award, applicant must:

· Demonstrate an active commitment to leadership

· choose to enroll at the University of North Carolina at Chapel Hill

· complete all requirements of the Crosby Scholars Program


Value

A $1,000 non-renewable award contributed by Crosby Scholars Invitational Golf Tournament


Application Procedure

Students can begin applying on April 1, 2019 and must submit a completed online application through their Crosby Scholars Student Portal by May 5, 2019.

Judy McCann Ball Memorial Scholarship - Opens TODAY!

The Judy McCann Ball Memorial Book Scholarship provides a $300 non-renewable book scholarship awarded to one graduating Crosby Scholar Senior. This scholarship is in memory of Judy McCann Ball, a beloved friend and ardent supporter of the Crosby Scholars Invitational Tournament. Judy was a lifelong lover and caregiver of animals, and whose memory is honored through volunteer service dedicated to animals in need.


Eligibility

To be considered for this award, applicant must:


  • Complete all requirements of the Crosby Scholars Program
  • Faithfully participate in extracurricular activities, including volunteer service with an organization that benefits animals


Value

  • $300; non-renewable book scholarship


Application Procedure

Students may begin applying on April 1, 2019 and must submit a completed online application through their Crosby Scholars Student Portal by April 28, 2019.

Upcoming Crosby Scholars Scholarship Deadlines

Don't miss your opportunity to apply for these Crosby Scholars Scholarships! Deadlines are quickly approaching -- submit your application ASAP.


Students must apply by submitting an online application through the 'Scholarships Application' page of the Crosby Scholars Student Portal.


Howard University Alumni Club Scholarship of Winston-Salem & the Triad

This application is for senior(s) in the Winston-Salem Forsyth County School System who have been accepted and are committed to attend Howard University. This scholarship will be awarded to the recipient on a one-time basis. Only the Awardee will be notified. Deadline is Monday, April 22, 2019. Recipient must be enrolled as a full-time student at Howard University for the fall semester.



  • Must attend Howard University
  • Must submit Official Transcript & Official College Board SAT/ACT scores
  • Submit activities involved in and leadership positions held during junior and senior year
  • Submit community and volunteer activities participated in during junior or senior year


The Awardee will be presented a SCHOLARSHIP AWARD LETTER and be recognized on high school Award, Class or Senior Day.

All questions should be directed to huacwst@gmail.com

Deadline – Monday, April 22, 2019.


DOWNLOAD APPLICATION

Have questions about Financial Aid? Need help reading your Financial Aid Award Letter?

Schedule a one-on-one appointment with Ashly Wilson, our Crosby Scholars Financial Aid Coordinator. Call 336-725-5371, or email awilson@crosbyscholars.org