Discover Texas Tech: Student Financial Aid & Scholarships

Discover Texas Tech: Student Financial Aid & Scholarships


>>Laura Scott, Assoc. Director for Internal/External Relations: A visual that I use with a lot of students and parents is to think of financial aid as a whole bunch of locked
treasure boxes. There are some that are grants and there are some that are
scholarships and there are some that are work-study or earned income– some are
loans– and there’s lots of different types of them and they have all
different amounts and different criteria. What they do need to do is to
give us the key to unlock those treasure boxes, and that key is the FAFSA.>>Allison Hirth, Reporting: THE FAFSA– OR FREE APPLICATION FOR FEDERAL STUDENT AID. WHILE FILLING IT OUT DOESN’T GUARANTEE YOU’LL RECEIVE MONEY, IT’S THE SINGLE MOST IMPORTANT FINANCIAL AID GATEWAY TO COLLEGE. AND THERE’S ONE OFFICE ON CAMPUS THAT KNOWS ALL ABOUT IT– THAT’S STUDENT FINANCIAL AID AND SCHOLARSHIPS. LAURA SCOTT OVERSEES ITS OUTREACH.>>Laura Scott: If there’s one piece of advice I would give students that is to fill
out those FAFSA (forms) every year and to do it early. The reason I say to do it early is
that some of those little treasure boxes are first-come, first-serve. So, if a
student waits too long and they give me their FAFSA key in the spring time, it
may open a box that has nothing left in it.>>Allison Hirth: FOR MANY, FIGURING OUT HOW TO PAY FOR COLLEGE CAN POSE A PROBLEM.>>Laura Scott: People think, ‘I’m going to get financial aid’ and they
think that’s going to pay for everything, and that, for the vast majority of people,
is not accurate.>>Allison Hirth: THERE ARE OPTIONS OUT THERE, THOUGH, INCLUDING GRANTS, WORK-STUDY JOBS OR EARNED INCOME AND LOANS.>>Laura Scott: The word ‘loan’ can have a real big knee-jerk reaction from people and there’s many misconceptions around loans. Loans can also be the dream maker. They can be the difference between a
student going to school and not going to school, and as long as they’re used
judiciously and effectively, they can be a great thing.>>Allison Hirth: THERE ARE ALSO SCHOLARSHIPS, THOUSANDS OF THEM, AVAILABLE RIGHT HERE AT TEXAS TECH.>>Christy Rosson, Director of Scholarships: We have over 4,000.>>Allison Hirth: CHRISTY ROSSON IS THE DIRECTOR OF SCHOLARSHIPS.>>Christy Rosson: Scholarships aren’t going to find you, you’re going to have to find them.>>Allison Hirth: BUT SHE SAYS IF YOU’RE WILLING TO PUT IN THE WORK, IT CAN PAY OFF. FOR THE 2016-2017 SCHOOL YEAR, TEXAS TECH WROTE CHECKS FOR ROUGHLY $60 MILLION IN SCHOLARSHIPS. ROSSON RECOMMENDS YOU TAKE ADVANTAGE OF THAT MONEY– APPLYING EARLY AND OFTEN. AND WHILE MERIT AND NEED ARE WORTHY REASONS, SHE SAYS MOST DONORS ARE LOOKING FOR SOMETHING DIFFERENT FROM STUDENTS.>>Christy Rosson: The number one criteria that’s very popular
right now as far as donors are concerned is grit. Defining grit is difficult, but
students that show grit through perseverance or overcoming challenges,
their willingness to work and just put forth more effort than other students,
that’s what scholarship donors are looking for these days more than
anything.>>Allison Hirth: THE FOLKS WORKING IN STUDENT FINANCIAL AID AND SCHOLARSHIPS KNOW THE PATH TO GETTING AND STAYING IN COLLEGE CAN BE A DIFFICULT ONE. THAT’S WHY THEY HAVE A GROUP OF ADVISERS WHO WORK WITH STUDENTS ONE-ON-ONE. BESIDES A WALK-UP COUNTER, WHICH DOESN’T REQUIRE AN APPOINTMENT…>>Laura Scott: We also have a call center and that’s an amazing team as well. So, they’re sitting in front of
computers. Students will call in with a question or a concern and it gets
resolved very quickly.>>Allison Hirth: MORE THAN 70% OF TEXAS TECH STUDENTS RECEIVE SOME TYPE OF AID– TOTALING MORE THAN $335 MILLION A YEAR. AND WHILE THE OFFICE IS THERE TO HELP STUDENTS GET THE MONEY THEY’RE ELIGIBLE FOR, SCOTT SAYS THERE’S ANOTHER CRITICAL PIECE TO THE FINANCIAL AID PUZZLE.>>Laura Scott: Giving people money is not the whole solution. I think we need to help young people know how to manage that money as well.

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