Transcript Financial Aid 101 - Tallmadge City Schools

Financial Aid: An Overview…
Presented by
Dave Marsteller
Assistant Director, Financial Aid
The University of Akron
Tonight’s Agenda…
• Your Friend the FAFSA…
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What it is?
Why should I file?
Can I make too much to file?
Important Web Sites
FAFSA Help
• The Financial Aid Timeline—Financial Aid by the Firsts
• What do I need to Estimate Income
Important Web Sites
• www.fafsa.gov Web site for FAFSA on the Web (FREE!!)
• www.pin.ed.gov Web Site to set up parent and student PIN for
electronic signatures for FAFSA
• www.studentloans.gov Web site for completing Entrence Counseling
for Direct Stafford Loans & Completing Master Promissory Notes &
PLUS Applications
• www.irs.gov Web site for tax forms & publications delineating higher
education tax deductions
• www.sss.gov for registering male students for selective service.
• www.ohiocollegegoalsunday.org for registering to attend College Goal
Sunday 2/13/11
If You Want Help Completing Your
FAFSA…
• If you have specific questions, the federal processor may be able
to answer them by phone (1-800-4-Fed Aid)
• Your School Counselor can often provide assistance.
• The college of your choice will always be glad to help…
• www.ohiocollegegoalsunday.org for registering to attend College
Goal Sunday 2/13/11
• Or… CALL US! VISIT US!  We’ll be glad to assist you!!!
How & When
to File the
FAFSA…
• Advantages to Online Filing…
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Speed—7-10 business days in processing versus 3-4 weeks.
FREE—www.fafsa.ed.gov
Instantly signed with PIN www.pin.ed.gov
Accuracy the paper fafsa data is entered into the computer using optical
character recognition—in the online version you leave no doubts as to
your 7’s and your 9’s… 
• Prevents errors by not allowing conflicting information to be entered
without prompting you to clarify.
• Disadvantages
• Discomfort with computers can cause folks to put off filing.
• Lack of access to secure computer networks may prevent electronic
filing.
Financial Aid Timeline…
• ASAP Senior year… Make sure you know if
your school requires the CSS Profile Form and
if so what it’s due date is.
• For more information, go to:
https://profileonline.collegeboard.com/index.jsp
Financial Aid
Timeline…
New Year=New FAFSA
1/1=
Your FAFSA will be available online after 1/1 of
your Senior year in high school.
February 1
Have your FAFSA Completed and into the FEDS
no later than this date for best results (Some
schools even want 1/31!)
So be early…
Don’t wait until your taxes are done…
Estimate your income!
March 1
If your school needs more information from you
they should be requesting it during the first
week of March (if you met the 2/1 deadline). If
you haven’t heard from your school(s) CALL
THEM!
“You have been selected in a process known as
verification…”
NOTE: 33% of students will be RANDOMLY selected BY THE US DEPARTMENT OF
EDUCATION for verification of other information, including Income, Selective
Service Status, and Citizenship.
If you are selected you will be notified by a letter from our office which will be
accompanied by forms, and directions on how to complete them!
DO NOT PUT THESE ON THE COFFEE TABLE AND FORGET THEM! 
Please return these forms quickly, and provide the information requested.
We are unable to process aid for you without them!
• IF YOU HAVE QUESTIONS ABOUT COMPLETING THESE FORMS—Or ABOUT
THE REQUIRED DOCUMENTATION…Call your school for help!
April 1…
You should be receiving your Award Notification
from the school during the first week of April.
If you have not… Contact the school to see
where the problem is.
READ EVERYTHING THAT COMES WITH YOUR
AWARD NOTIFICATION!!!!!!!!!!!!!!!!!
Award
Notification
This paper
describes
the amount
of aid a
student will
receive
during the
next
academic
year.
May 1-through June 1
Decisions, Decisions!
Now is when you are finalizing your school choice…
Make sure the school knows you are coming and that you want
the money they offered you!!! Contact them!
You should know how much aid you have, and what you need to
do to get it! (e.g. forms, etc.) READ EVERYTHING that comes
with your Award Notification and follow the directions
carefully so you do not lose aid by missing deadlines.
June 1 onward…
• You should know what aid you’re getting and
know how much more money you need to pay
for your school.
• If you don’t know this at this point be in close
contact with the school for assistance!
Special Circumstances
Contact the Financial Aid Office if there is:
– Loss or reduction in parent or student income or assets
– Death or serious illness in family that is effecting income or causing
unusual medical or dental expenses not covered by insurance
– Natural disaster affecting parent income or assets
– Reduction in child support or other untaxed benefits
– Financial responsibility for elderly grandparents
– Private K-12 tuition for younger students in household
– A parent attending college or other post-secondary training
– Any other unusual circumstances that affect a family’s ability to
contribute to higher education
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Other Misc. Info.
College Cost Savers…
• Use community colleges/lower cost public schools for
general ed. courses
• Commute to school! 
• Use AP/CBE/CLEP to obtain credit for knowledge
earned from an excellent h.s. education.
• Take advantage of College/Education tax deductions
(e.g. Hope Scholarship; Lifelong learning Credit etc.)
• Use School payment plans to help finance cash-flow
issues to avoid credit card or loan use when possible.
Bureau of Vocational Rehabilitation
If you student, have a condition, disability, (physical, emotional
or learning issue) The BVR is a state agency that may be able to
provide financial support to allow a student to pursue preparation
for a profession or trade that will accommodate a student’s
condition.
Phone numbers are available for each and every county in the
state. You can find listings for your county by doing a web search
using the terms “Ohio BVR”
Military Service
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Army ROTC
Air Force ROTC
Navy ROTC
Ohio National Guard
Benefits provided by any armed service.
All of these options are available to you with all
the rights, responsibilities and risks of military
service.
Contact your local recruiter(s) for details.
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ETV Funds (Children in Foster Care System)
The Ohio Education and Training Voucher Program offers funds
to foster youth and former foster youth to enable them to
attend colleges, universities and vocational training institutions.
Students may receive up to $5000 a year for four years as they
pursue higher education.
The funds may be used for tuition, books or qualified living
expenses.
Web site www.statevoucher.org
Click on OHIO on the map to obtain information.
AVOID Scholarship Scams…
• NEVER pay anyone to assist you in searching for
scholarships—you may do so yourself for free
online, through books at your local public library
or with the help of your school counselor.
• Never pay an “entry fee” “application fee” or
“membership fee” with a scholarship
“application.”
Fin.