Transcript 2014 ENGLISH FAFSA PARENT ORIENTATION

Provided by:
Kristy De La Garza-Wardell
College & Financial Aid Officer
THE
Robert Vela High School
LEGACY OF EXCELLENCE CONTINUES.
How to Apply for Financial Aid
Let’s Get Started!
January 21, 2014
Presented by:
Kristy De La Garza-Wardell
Financial Aid Officer
www.fafsa.gov
• Free online government application can be used for
universities and colleges nation wide.
• Used to apply for Grants, Work Study and Loans
• Funds are awarded to HS graduates upon registration of
courses
• Seniors 2014 will complete FAFSA on Monday, February
18th, FAFSA Night at the RVHS Library & Computer Labs
Financial aid is
money from any source other than the student’s family
that is used to fill in the gap between the
cost of attendance
& what the student’s family can contribute
which is used to help pay college expenses.
Financial aid awards are based on the principle that
the primary responsibility for paying for college
rests with the student and his or her family.
.
Cost of Education
$16,000
Estimated Family Contribution - $6,500
Financial Aid Needed =
$9,500
Financial Aid Award may consist of:
Grants
Work/Study
Loans
Log onto www.pin.ed.gov

Your Pin # will serve as
your ELECTRONIC
SIGNATURE on the FAFSA
Application.

PARENTS & STUDENTS
WILL BOTH NEED A
SIGNATURE PIN # TO
SIGN THE FAFSA

Parents may already have
a PIN for themselves or
another child (simply
retrieve it).
Step 2: Complete the FAFSA

By appointment Tuesdays &
Thursdays
(Please call K. De La Garza at
289-2650 Ext. 6448 or 6481).

FAFSA Night 2014 (Tuesday,
February 18, 2014) Income Tax
forms and W-2s are required,
unless you do NOT file income
taxes.
Step 3: Student Aid Report
Step 4: Verification Form or
Award Letter

You want to complete the Free Application for
Federal Student Aid (FAFSA) by visiting
www.fafsa.ed.gov

You must complete a new application for each
academic year.

1 Academic Year = Fall, Spring & Summer I or
Summer II semesters.
To complete this, you will need your INCOME TAX
RETURNS for 2013! (If possible by 2/5/14)
Step 2: Student Aid Report

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This is a Summary of information submitted on FAFSA.
Review this to make sure that all information is correct!
If not, go back to FAFSA & make your corrections at
www.fafsa.gov
You will receive this in your e-mail
3-4 days after submitting FAFSA.
All information should be submitted
electronically. (Avoid Mail to expedite
the process, unless a non-resident
of the U.S.)
Universities may require a verification form.
Requirements differ between universities.
(bring letter to the Financial Aid Office…do NOT ignore it).


Award letter sent to student ONLY if you have been
accepted by that university!
2013 Federal Income Tax Forms
IRS Data Retrieval System tool in the FAFSA
 If not using IRS DRS, you will need to request IRS Tax Return
Transcript at www.irs.gov
2013 W-2 Forms
Child Support paid or received
Social Security/Alien Registration Numbers
Dates of Birth for parents
Marital Status Dates (Divorced, Widowed, etc.) & Dates
 Balance of cash, checking, and savings accounts
Other financial documents

FAFSA for students beginning college Summer 2014
◦ Available now!
◦ What do you need?
2012 W-2 forms
 Your and your parent’s 2012 income tax returns
◦ Deadline: As soon as possible
 Your and your parent’s

FAFSA for students beginning college Fall 2014
◦ Available January 1, 2014
◦ What do you need?
 Your and your parent’s 2013 W-2 forms
 Your and your parent’s 2013 income tax returns
◦ Priority Deadline – March 1, 2014

Information will be collected from both of a dependent
student’s (under 24, not married nor a veteran) legal parentswithout regard to the marital status or gender of those
parents if the parents live together.
If parents of the student are:
(a) Not married but are living together
(b) Same sex parents
Will be unable to use the IRS Data Transfer option.

Tax form 1040A / 1040 EZ accts. For parent’s income only
as opposed to parent & student. (Great for working student).
INDEPENDENT status only and if:

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Student is 24 years of age, or
Student is working on a master’s or doctorate
program
Student is married, or
Student has children whom they provide more than
50% support for, or
Student has dependents other than their children or
spouse, or
Both parents are deceased and they are a
ward/dependent of the court, or
Student is currently serving on active duty for
purposes other than training in the U.S. Armed
Forces, or
Student is a Veteran of the U.S. Armed Forces.
INDEPENDENT status if and only if:
 Student is homeless or at risk of being homeless
 Student has been an orphan, foster care,
dependent/ward of the court.
 Student has been declared an Emancipated Minor
(An emancipated minor is a child who has been granted the status of
adulthood by a court order or other formal arrangement).

You are under legal guardianship (as determined
by the court).
**The university receiving your FAFSA
information will determine your dependency
status and gather supporting documents.
IF your filing status is...
SINGLE
HEAD OF HOUSEHOLD
MARRIED, FILING JOINTLY
MARRIED, FILING SEPERATELY
WIDOW(ER) WITH DEPENDENT
AND at the end of 2012 you
were...*
under 65
THEN file a return if your gross
income was at least...**
$9,750
65 or older
under 65
$11,200
$12,500
65 or older
under 65 (both spouses)
$13,950
$19,500
65 or older (one spouse)
$20,650
65 or older (both spouses)
any age
$21,800
$3,800
under 65
65 or older
$15,700
$16,850
•Order your Tax Return
Transcript online at
www.irs.gov
•Or print form 4506-T under
“Forms and Pubs”
•Available two weeks after
your income tax forms have
been submitted to IRS
• This is located on the
FAFSA Application!!!!!!
• You can LINK to the IRS to
have them directly transfer
your information 2-3 weeks
after you filed your income
taxes by going back to your
FAFSA to make corrections
and click on “link to IRS”
electronically.
• You must have EXACT
matching information.
What happens now?
1.
2.
3.
4.
5.
6.
7.
The FAFSA application gets sent to the processor.
Processor sends data to up to ten schools as
reported on the FAFSA
Each school evaluates application and creates an
award package
Award letter sent to student (bring copy by the
Financial Aid Office).
Student returns award letter to school
School concludes award processing
University financial aid office pays bills and produces
checks
When Applying with FAFSA:
A. Grants
FREE Money
B. Work/Study Program
Part-time job
C. Loans
Money borrowed and to be repaid

Federal Grants:
◦ Pell Grant = EFC = 0
◦ Federal Supplemental Educational Opportunity Grant
(FSEOG)
◦ Federal Work-Study
◦ Hazelwood for Veterans or dependents.

State Grants:
◦ Towards Excellence, Access and Success Grant (Texas
Grant) – Must graduate Distinguished / Recommended
◦ Texas Educational Opportunity Grant (TEOG)
◦ Texas Public Education Grant (TPEG)

Students who are non-residents of the U.S.
are eligible for state aid
Work-study program is a part-time job to help
student
earn extra
money

Jobs on and off-campus

Earn money and gain experience

Flexible work schedules


If your student qualifies for the Work/Study program,
please encourage them to take advantage of the
opportunity!
Statistics show that college students who work 10-14
hours a week have better GPAs.
“Be a student worker –
not a working student”
Loans can be borrowed for college BUT must be paid back

Federal Direct Stafford Loan – Rates 3.4% currently

Perkins Loan – Institution loans

Direct Parent Plus Loans – Rates 7.9% currently
◦ Student Loans: No credit check because of new credit
 Subsidized – No Interest while in school
 Unsubsidized – Interest accruing while in school
◦ Student Loan
 Need credit check on parent’s information

B-On-Time Loan program – hhloans.com – Contingent upon
funding.
 A STUDENT IS NEVER OBLIGATED TO TAKE THE ENTIRE AMOUNT!

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Scholarships
Top 10% Scholarship - Eligible for $1,500
Institutional Scholarships – Selected by
individual college/university and ONLY FOR
THAT school (Ex: UTPA University Scholars)

Valedictorian Scholarship – 100% Tuition Pd.

Private scholarships –

Lists are available monthly at our office
Scholarship
VAMOS , STARS, Housing
Do NOT attend meeting or
give them credit card number
or money!
1.
2.
3.
4.
5.
6.
7.
8.
Family completes FAFSA
FAFSA sent to processor
Processor sends data to up to ten schools as reported
on the FAFSA
Each school evaluates application and creates an award
package
Award letter sent to student
Student returns award letter to school
School concludes award processing
University financial aid office pays bills and produces
checks
PRIORITY FAFSA FILING: March 1, 2014
Tuesday, February 18, 2014



Robert Vela H.S. LIBRARY & Computer Labs
5:30-8:30pm
Bring all necessary documents.
FAFSA Tuesdays & Thursday Evenings
Available by Appointment Only!
4:30 p.m.- 6:00 p.m.
Available in the Financial Aid Office
*By appointment
Thank you!
Robert Vela High School
956-289-2650
Erica Alvarez
Financial Aid Asst.
[email protected]
Kristy De La Garza
Financial Aid Officer
[email protected]
956-289-2650 ext. 6448
DOCUMENTS NEEDED on Feb. 18th to complete FAFSA at
RVHS:
 2013 Federal Income Tax Forms







 2013 Federal Income Tax Forms
 IRS Data Retrieval System tool in the FAFSA
 IRS Data Retrieval System tool in the FAFSA


If not using IRS DRS, you will need to request IRS
Tax Return Transcript at www.irs.gov
2013 W-2 Forms
Child Support paid or received
Social Security/Alien Registration Numbers
Dates of Birth for parents
Marital Status Dates (Divorced, Widowed, etc.) & Dates
Balance of cash, checking, and savings accounts
Other financial documents
http://edinburg.vela.schooldesk.net
DOCUMENTS NEEDED on Feb. 18th to complete FAFSA at
RVHS:
 2013 Federal Income Tax Forms







DOCUMENTS NEEDED on Feb. 18th to complete FAFSA at
RVHS:







If not using IRS DRS, you will need to request IRS
Tax Return Transcript at www.irs.gov
2013 W-2 Forms
Child Support paid or received
Social Security/Alien Registration Numbers
Dates of Birth for parents
Marital Status Dates (Divorced, Widowed, etc.) &
Dates
Balance of cash, checking, and savings accounts
Other financial documents
http://edinburg.vela.schooldesk.net
DOCUMENTS NEEDED on Feb. 18th to complete FAFSA at
RVHS:
 2013 Federal Income Tax Forms
 IRS Data Retrieval System tool in the FAFSA
 IRS Data Retrieval System tool in the FAFSA


If not using IRS DRS, you will need to request IRS
Tax Return Transcript at www.irs.gov
2013 W-2 Forms
Child Support paid or received
Social Security/Alien Registration Numbers
Dates of Birth for parents
Marital Status Dates (Divorced, Widowed, etc.) & Dates
Balance of cash, checking, and savings accounts
Other financial documents
http://edinburg.vela.schooldesk.net







If not using IRS DRS, you will need to request IRS
Tax Return Transcript at www.irs.gov
2013 W-2 Forms
Child Support paid or received
Social Security/Alien Registration Numbers
Dates of Birth for parents
Marital Status Dates (Divorced, Widowed, etc.) &
Dates
Balance of cash, checking, and savings accounts
Other financial documents
http://edinburg.vela.schooldesk.net