Transcript Document
Financial Aid Types
■
Grants
are money you don’t have to repay, typically based on financial need. ■
Scholarships
are free money, usually based on your area of study or merit.
■
Work-study or student employment programs
—federal and college.
■
Loans
are borrowed money that you must pay back, usually with interest.
Basic Steps to Financial Aid
a) Prepare for college b) Apply for financial aid c) Pay for college d) Manage your money
GRANTS
■ Cal Grants ♦ Cal Grant A: up to $12,192 ♦ Cal Grant B: up to $1,551 first year, up to $13,743 thereafter ♦ Cal Grant C: up to $3,168 ♦ Middle Class Grant ■ Federal Pell Grant ♦ Up to $5,550 a year ■ Federal Supplemental Educational Opportunity Grant ♦ Up to $4,000 a year ■ Federal TEACH Grant ♦ Up to $4,000 a year
Special Programs
■ Fee waivers and other college-based programs ♦ See your college financial aid office ■ Work-study ♦ Federal work-study ♦ College work-study • Student employment programs
FAFSA STEPS
• • • • Get a Personal Identification Number (PIN) for both the student and at least one parent Sign up for your PIN anytime at www.pin.ed.gov
FAFSA application for the 2014-15 college year opens January 1 st , 2013 Complete the FAFSA by March 2 nd , 2013 Make sure the site you input data to ends in .gov
• • •
Why use a PIN?
Sign FAFSA electronically Access your FSA records online Make corrections • •
Who can apply?
Students Parents
Get your PIN
• • • • • • Using the PIN Website
REQUIREMENTS: ALLOWS THE FOLLOWING:
Social Security number Name Date of birth Address Email address (encouraged) Challenge question response A PIN will be issued upon submitting the request.
Apply for a PIN Check PIN status Request a duplicate PIN Access/Update email address and personal information Change PIN Disable, reestablish, activate PIN Note: A PIN will be rejected
if there is no Social Security
Administration match. Note: Never ask for or
give your PIN to anyone.
FAFSA on the Web (FOTW)
Using FOTW
• Ask Questions • Browse Help • Deadlines • Announcements …and more
FAFSA on the Web (FOTW)
Contact Us
• Live “chat” • • (800) 433-3243 [email protected]
FAFSA on the Web (FOTW)
www.fafsa.gov
Start Here
: Initial FAFSA Corrections Signatures Continuing a Saved FAFSA Renewal FAFSA
Make sure the site you input data to ends in .gov
FAFSA 7 Steps
1. The Student 2. School Selection 3. Student’s Dependency Status 4. Parent Information for Dependent Students 5. Student Income / Assets 6. Signatures and Certification 7. Confirmation
Step 1: Student Demographics Check for:
• Name matches student social security card • Transposed numbers • Incorrect data on numeric fields Tip: Use the Help & Hints section on each page.
Simple mistakes can delay determining eligibility for aid
Step 1: Student Demographics
Students with a high school diploma and who have never attended college must: • Identify their high school • Select
Confirm
find a match.
to •
Select
the school from the list
or
select
Next
to continue.
Step 2: School Selection
• • Add a School Federal School Code Search by: State City Name Housing Plans o On campus o With parent o Off campus
NET PRICE CALCULATOR
■ Congress passed a law requiring all colleges to offer a “net price calculator” on their websites ♦ Allows prospective students to figure out how much it will cost them to go to college ♦ Compare net price of one school to another school
Step 3: Dependency Determination
“No” to all questions: Makes the student “dependent” Must submit parent information
Note:
child must be supported financially — more than 50%
Foster Care
Select Yes if at any time since the student turned age 13, he/she was in foster care even if no longer in foster care today due to: – Adoption – Reunification – Reached the age of majority (18 yrs.) Note: documentation may be required.
Emancipated Minors
Select Yes if the student: – as of today, is an emancipated minor or – was an emancipated minor immediately before turning 18 years old.
Note: Documentation issued from a court in the student’s state of legal residence may be required.
Legal Guardianship
Homeless, Unaccompanied Youth
Select Yes if any time after July 1, 2013, the student meets all three criteria: “
Homeless
” or “
at risk of being homeless
” – Lacking fixed, regular and adequate housing. Includes living in shelters, motels, cars, or temporarily living with other people because you had nowhere else to go.
“
Unaccompanied
” – Not living in the physical custody of a parent or guardian “
Youth
” – 21 years or younger – Still enrolled in high school at the time the FAFSA is completed
Homeless, Unaccompanied Youth
• • • • A student is eligible for homeless youth status if he/she meets the homeless definition and was determined to be homeless by his/her high school or school district homeless liaison, the director of a runaway or homeless youth center, or HUD Students who meet this criteria are independent A student is also eligible for homeless youth status if he/she meets the homeless definition, but was determined to be homeless by the financial aid office; Students who meet this criteria can use FAFSA on the
Web to self-identify.
Step 4: Parent Information
Parents must answer both demographic and financial information to determine • Custodial parent(s) • Ability to contribute to student’s education expenses
Divorced or Separated
• Provide parent’s information for the parent(s) with whom the student lived with most during the last 12 months • If the student spent equal time with both parents, use the information for the parent who provided the greatest amount of financial support for the student
Remarried Parent
Provide information about the parent
and stepparent
regardless of: • Agreement of “nonsupport” • Prenuptial agreement • Divorce decree designating tax filing exemptions
Note:
need not be the parent required to provide data on the FAFSA parent claiming the student on the tax return
Parent Information
Do not provide parent information for • Foster parent(s) – Student is automatically considered an independent student • Grandparents, other relatives or legal guardian(s) – Colleges may use professional judgment to allow the student to file as an independent student
Parent Information
For Upcoming Year
Household Size: Parent provides more than 50% financial support Number in College: Student enrolled at least half-time
Parent Information
Definition of a
Dislocated Worker
– Lost job – Laid off – Self-employed/ unemployed or underemployed – Displaced homemaker
Parent Income and Asset Information
Same questions asked of students Selecting a box displays additional fields to complete
Parent Income and Asset Information
• Question displays if the student:
– Is not eligible for an automatic zero EFC or simplified needs calculation,
and
– Reports a state of legal residence that allows students to skip income and asset questions
Step 5: Student 2013 Income and Assets IRS Data Transfer Transfer
information directly from the IRS • Requires PIN • Available January 31 st • After filing tax return
Income Reporting and Verification
Selected students and parents must submit income and asset documentation • Using IRS Data Transfer (unchanged) meets verification requirements for some income information • Otherwise only an IRS Tax Return Transcript will meet verification requirements • ID Theft updates
Student Income and Assets
• Adjusted Gross Income (AGI) • Amount earned from work • Taxes paid • Exemptions • Cash/Investments • Asset Threshold
Step 5: Student Financial Information
Step 6a: Student Sign and Submit
• Select Signature Method PIN or printed signature page • • • • Terms of Agreement $$$ for education expenses only Not in default on a federal student loan Not owe money Receive one Pell Grant from one college at a time
Step 6b: Parent Sign and Submit
• Select Signature Method PIN or printed signature page • • Terms of Agreement Provide documents to verify accuracy of information IRS verification
Step 7 : Confirmation
• • • • • •
Confirmation Page
Confirmation # DRN Optional feature: transfer FAFSA data
2012 2013
Eligibility information College information Next steps
Student Aid Report (SAR)
• Received electronically or by mail, • Summarizes FAFSA information • Displays the EFC and DRN
(upper right-hand portion on the SAR)
EFC
- Expected Family Contribution; used to determine eligibility for federal aid
DRN
- Data Release Number; used to send SAR to additional schools
Cal Grants Overview
Find out if the school you want to attend qualifies for Cal Grants
Basic Cal Grant Eligibility
WWW.CSAC.CA.GOV
43
Cal Grant A CSU UC Independent
$ 5,970/yr $ 12192/yr $ 9,084/yr
For Profit
$4,000/yr
Cal Grant B
Very low income students who: • Meet the income and asset ceilings 2.00 GPA minimum AA, BA/BS and Certificate programs Annual Awards • $1473 stipend first year • Fees/Tuition plus $1473 in 2 nd , 3 rd , 4 th yr • Available as Entitlement & Competitive Awards
Cal Grant C
Low and Middle income students who: • Enroll in vocational courses of study • AA and Certificate programs only • Can be used for any school expenses including tuition and fees • Eligibility determined only after full Cal Grant A and B consideration
• •
Cal Grant C
Priority now given based on Occupational Goal Meeting 2 of the 3: High employment need, High employment growth, and High wage
Cal Grant Renewal Eligibility
• • Renewal participants must meet income and asset ceilings.
Students must meet satisfactory academic progress standard of school
Cal Grant Income & Asset Ceilings
• • • • • •
Cal Grant High School Entitlement
Make sure to include the high school name on the FAFSA CSAC can then match between GPA and FAFSA information High School Graduation Confirmation *Required* Students can confirm on-line using WebGrants for Students Schools & school districts can assist to provide post graduation confirmation of HS graduation Students needing to mail use the High School Graduation Confirmation form, HS transcripts or other authoritative documents
Student Notifications
• • • Recipients that submit a FAFSA & GPA will receive a California Aid Report (CAR) via email E-CAR indicates Cal Grant eligibility – Sent as early as January – Letter notification will be sent if no e-mail address Mark these addresses as not junk: – [email protected]
California Aid Programs
■ UC Student Aid ♦ Average grant $14,000 ■ State University Grant ♦ Full systemwide fees ■ California Chafee Grant ♦ Up to $5,000 a year ■ Child Development Grant ♦ Up to $2,000 a year ■ California National Guard Education Assistance Award ♦ $1,551 - $12,192 ■ Law Enforcement Personnel Dependents Grant ♦ Up to $13,743 a year
Student Notifications
Applicants should access WebGrants for Students (WGS)
www.webgrants4students.org
Use WGS to track awards, GPA and FAFSA Submission
Notification
WebGrants for Students (WGS)
• WGS is a CSAC web-based application for students that provides: – Secure, 24/7, student-friendly access to manage their Cal Grant and Chafee Grant award – Links to other related financial aid sites •
empowers students with critical financial aid information to ensure successful processing of grant application & maintenance of their award status
• The WGS URL is www.webgrants4students.org
Cash For College Workshop
RVHS has applied to host a Cash For College Workshop for January or February 2014 The date will be announced if we are selected.
If not selected we will hold a “hands on” FAFSA workshop in the RVHS computer lab so that parents and students have personal assistance submitting their FAFSA application online.
Thank you for attending
Loretta Abbott, MSW, PPSC 707-374-6336 x1232 [email protected]