
Counselors: Wanda Bird and Amy Gogas
March - April 2008
CONCORD UNIVERSITY—is seeking to
recognize the most outstanding Juniors from Scott High
School by honoring them with the Concord University Book Award
$500 Scholarship. This scholarship is for students that enroll
at Concord University. Students should be selected on the basis
of academic merit, extra-curricular involvement, noteworthy
achievement on any college entrance examination, class rank, and
well-roundedness. Two female and two male students may be
nominated. Nominees must be present on Friday,
May 9, 2008 to receive their awards. Interested
students are to see Mrs. Bird for more information and to be
nominated by Monday, April 22.
WV STATE POLICE JUNIOR
TROOPER ACADEMY---One Boone County
student (ages 14-17) will be selected to represent Boone County
Schools at the Junior Trooper Academy to be held July 14 - July
18, 2008. Interested students are to pick up an application
from Ms. Bird. Deadline: applications
must be turned in to Ms. Bird no later than April 10.
FREE ENTERPRISE/TEEN ENTREPRENEURSHIP
SUMMIT YMCA CAMP HORSESHOE—The Conference extends classroom
lessons. Business, entrepreneurship, career and educational
opportunities are coupled with community development, civic
leadership and service-learning. The Conference fee is $350.
We have two $320 Scholarships for one male high school
student and one female high school student to attend.
Students pay the $30 balance of the fee from their own funds.
This year’s conference dates are June 8-14, 2008. Interested
students are to contact Mrs. Bird by April 20. Deadline:
May 1.
FAIRMONT STATE UNIVERSITY---The
Faculty and Staff of Pierpont Community and Technical College of
Fairmont State University Aviation Department would like to
invite interested students to their semi-annual open house. The
open house will be held on March 29, 2008 from 1-4PM at the
Robert C. Byrd National Aerospace Education Center, located in
Bridgeport, WV. Tours will be given and guests will be able to
speak with the faculty and staff about the exciting career
opportunities available to them in the aviation field. Check
out the website for the Robert C. Byrd National Aerospace
Education Center at
http://www.fairmontstateaeronautics.com. Interested
students are to RSVP the Aviation Center at 304-842-8300 or
e-mail Aschorr@fairmontstate.edu.
All 2008 Seniors must fill out a Final
Transcript request form. Students planning to attend a
College, University, or Technical School in the fall of 2008
must have this mailed at the end of the Second Term of their
senior year. All seniors have been given the form. Also, Mrs.
Bird is requesting the following information from each senior.
Please make a list of all the scholarships that you have
been awarded up to this point. Please list the name of the
scholarship or grant, the amount and the number of years for
each scholarship that you have been granted. The Senior Awards
Program is scheduled for May 21 at 6PM in the gym. We want to
recognize each of you at this time. You have been asked to
include this information on the form that you are to fill out
for your Final Transcript. Additional forms are in Mrs. Bird’s
office. Please return the form by the end of April to Mrs.
Bird. If the final transcript form is not completed and
returned to Mrs. Bird before the end the Second Term, no Final
Transcript will be sent.
ALTERNATIVE LOAN GUIDE
What is an alternative loan? An
alternative (aka: private) loan is a loan through a commercial
lender (e.g., a bank). Unlike most government aid, eligibility
is based on your credit history and not financial need.
Consider an alternative loan only if you’ve maxed out on free
aid (scholarships and grants) and low-interest government
loans. While alternative loans might be the difference between
attending college or not, use them only as a last resort.
Why you might want an alternative loan…
Variable interest rates: Because private
loan providers offer variable rates, you may find a more
competitive rate between other providers. If interest rates are
low, a variable rate might be preferred. If interest rates
rise, you may be better off with a fixed-rate loan.
Cost: While the cost of private loans
generally won’t be able to compete with a fixed-rate government
loan, their cost is generally cheaper than credit cards or even
the rate of a personal loan that would be offered by your local
bank.
Credit-based, not need-based: You qualify
for alternative loans based on credit history and credit score
(a measure of creditworthiness), not financial need. Generally
speaking, the better your credit history, the lower your
interest rate.
Higher loan limits: You may be able to
borrow more through an alternative loan vs. a federally-funded
student loan.
In-school deferment: Many private education
loans allow you to defer the repayment obligation until after
graduation, but the catch is that the interest is
capitalized—that is, the interest becomes part of the principal
loan balance, which means a bigger loan and more to repay.
Pay for more: Use an alternative loan to
pay for ineligible federal loan expenses, such as a laptop,
study abroad, etc. Federal student loans can only be used for
educational expenses (tuition, fees, room and board, etc.).
Deductible interest: Deduct up to $2500 on
your federal tax return. This benefit covers both alternative
and government education loans.
Student obligation: Alternative loans are
consumer loans, meaning you must repay (however, a parent
co-signer would be come liable if you can’t pay). Shared
responsibility may be more appealing than the Parent Loan for
Under-graduate Students (PLUS), where only the parent pays.
…and why you might not.
More expensive: Government loan interest
rates are so low, private loan providers might not be able to
offer a competitive rate. Alternative loans also charge fees
that government loans do not, further increasing the cost of
borrowing.
Tougher terms: While you can defer payment
on an alternative loan until after graduation, you must still
pay the interest. If the interest is capitalized (see above),
you may end up paying even more. Subsidized government loans
cover the cost of interest while you’re in school.
Hard to compare offers: All things being
equal, which is a better offer, the 7% interest loan with 4%
fees, or the 6% interest loan with 6% fees? (Answer: the
second one costs less.) Understanding the relationship between
interest, fees, number of years and discount rates can be
confusing. (Check
www.collegegold.com/toools for info on how to analyze these
numbers!)
Good credit is key: The advertised rates
are generally for customers with excellent credit records. If
you or your family’s credit history is poor, the interest and
fees you pay could be more than the advertised rate.
Comparing Financial Aid Award Letters
You may receive award letters from
different colleges. Keep the following in mind when making your
final decision:
Look Carefully at your award letters:
Letters from different schools will probably have their figures
and costs in different formats. Compare award letters to see
how their offers measure up. Ask if outside scholarships will
affect your aid.
Compare loan offers: Interest rates, how
interest compounds, repayment terms and cancellation provisions
can vary widely from loan to loan.
Compare affordability of aid offers over
time: Ask how your financial aid package will change over time.
The aid package made available to you in your senior year may
look very different from the one you were offered freshman year.
Look beyond the “sticker price”: The school
with the lowest cost of attendance may not be the most
affordable. The amount and type of aid offered will influence
affordability.
Don’t accept an offer just because it has
the lowest “unmet need”: You may save more by accepting an offer
with a higher unmet need, if the aid package offers
scholarships, grants and work-study instead of loans. Unmet
need is equal to the Cost of Attendance less the total of
expected Family Contribution and total aid amount.
Compare like terms: How do the schools
determine cost of attendance: Do they all include direct costs
as well as indirect costs? How do they handle outside
scholarships? What work-study options are available? What are
wages like? Can you substitute work for a loan?
VIRGINIA TECH—The Virginia Tech
College of Engineering invites junior-year math and science
students to attend the annual Engineering Open House on
Monday, April 7, 2008. Registration is easy. Go to
http://www.eng.vt.edu/EOH. Deadline: Complete the
online RSVP by March 21, 2008.
NASHVILLE AUTO DIESEL COLLEGE---is
offering a scholarship program for a high school senior with
strong technical aptitude who wants to pursue a career in the
auto-diesel or collision repair and refinishing field. The
program is called the High School Select Scholarship Program.
This scholarship provides a $1000 tuition scholarship to NADC
for a senior who, in the opinion of your school administration,
has demonstrated a sincere desire for self-improvement. Awarded
students must enter NADC by September 20, 2008. Additional
requirements may be found on the application. Applications are
to be mailed to Nashville Auto-Diesel College, 1524 Gallatin RD,
Nashville, TN 37206. The phone number is 1-800-228-6232.
Deadline: May 31, 2008.
THE IMAGINE AMERICA SCHOLARSHIP PROGRAM---offers
students $1000 to attend any participating private postsecondary
institution that is accredited by an agency recognized by the
U.S. Department of Education. Any graduating high school senior
can be considered for selection for one of the two scholarships
awarded to his or her high school. Students may apply online at
http://www.petersons.com/cca or you may request a copy by
writing to: Career College Foundation, Imagine America
Scholarships, 10 G ST NE, Suite 750, Washington, DC 20002.
Deadline: March 26, 2008.
EVEREST INSTITUTE---Students
interested in the following Everest Institute (formerly National
Institute of Technology) programs are encouraged to apply for
one of five $2000 awards. They are: Electronics, Computer and
Communications Technology, Medical Assistant, Medical
Administrative Assistant, Medical Insurance Billing and Coding
and Massage Therapy. Seniors interest in applying for the
scholarship must fill out the application completely, obtain a
signature from a counselor, math, science or vocational teacher,
and return to Everest Institute via mail, Fax, or email. All
applicants must take the Career Program Assessment Test (CPAt),
which measures competency in reading, language and mathematics.
Applicants must take the test at the Cross Lanes campus on one
of the following dates: Saturday, March 15, 2008 at 10AM or
Tuesday, March 18, 2008 at 6:30PM. Deadline: Applications
must be received by 12PM (noon) the day before the test date
selected.
SOUTHERN WV COMMUNITY/TECHNICAL COLLEGE
– Southern Scholarship. This scholarship covers the cost of
tuition. Deadline: April 15.
ALBERT YANNI SCHOLARSHIP PROGRAM
2008-2009 – for outstanding Secondary
Vocational-Technical education graduates wishing to pursue
additional education at the postsecondary level in the same or
related career field. Amount: $2,000. Forms may be accessed
at
http://careertech.k12.wv.us under new resources.
Deadline: April 14, 2008.
2008 CHAMPION COLLEGE SCHOLARSHIP
PROGRAM---is open to any survivor of childhood cancer who
will attend an accredited two or four-year institution, was
diagnosed before the age of 19 and is currently 25 or under.
First-year recipients will receive $1000, and college
scholarships renewals will be awarded in the amount of $500.
Applications are available at 1-800-227-2345. Deadline:
postmarked April 15, 2008.
DANVILLE AREA LIONS CLUB COMMUNITY
SERVICE SCHOLARSHIP –Eligibility requirements are to be a
member of the Scott High School Senior Class, be accepted at an
accredited college, maintain a cumulative 2.5 GPA while
attending high school, been active in community and
extracurricular activities, and financial need. Deadline:
May 1.
BOONE
COUNTY SCHOOL SERVICE PERSONNEL ASSOCIATION “SERVICE AWARD 2007”—
Applicant must be a graduating senior and
have a family member that is employed by the Boone County
Board of Education and is currently a member of the Boone County
School Service Personnel Association or a retired Boone County
employee who was a member of the BCSSPA when they retired. (Family
member will include:
Father-Mother-Grandparent-Brother-Sister-Uncle-Aunt) The
applicant must be enrolled in one of the following. Accredited
college, accredited Junior college, or accredited Trade school.
Amount: $400. Deadline: Application must be
received/postmarked by Monday, April 21, 2008. |