College Goal Sunday January 17, 2009
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Transcript College Goal Sunday January 17, 2009
FAFSA DAY 2012
Applying for Financial Aid
2012-2013
www.FAFSADAY.org
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Sponsors/Partners:
Presenter:
www.FAFSADAY.org
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Types of Financial Aid
Gift Aid - Grants or scholarships
that do not need to be repaid
Work - Money earned by the
student as payment for a job on
or off campus
Loans - Borrowed money to be
paid back, usually with interest
www.FAFSADAY.org
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Sources of Financial Aid
Federal government
State government
Colleges and universities
Private agencies,
companies, foundations,
and parents’ employers
www.FAFSADAY.org
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Types of Applications
FAFSA
CSS/Financial Aid PROFILE
Institutional financial aid
application
Deadlines and requirements vary by
institution
www.FAFSADAY.org
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FAFSA on the Web
Internet application used by students and parents
to complete electronic FAFSA at www.fafsa.gov
Sophisticated on-line edits and skip logic so errors
are less likely to be made
Instructions incorporated throughout application
Student and at least one custodial parent should
get a federal PIN at www.pin.ed.gov
www.FAFSADAY.org
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FAFSA on the Web Password
Before starting the on-line FAFSA you will be asked to create
a password
This allows you to save your application and return to it at a
later time
www.FAFSADAY.org
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Federal PIN
PIN (Personal Identification Number) serves as the
electronic signature
Both student and at least one custodial
parent need a PIN to sign the FAFSA
electronically
May also be used to:
Utilize IRS Data Retrieval Tool
Correct/Update FAFSA
Add additional colleges to receive FAFSA data
Apply for PINs at
www.pin.ed.gov
Needed each year the student completes the FAFSA
www.FAFSADAY.org
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FAFSA on the Web Worksheet
Used to collect information
for the on-line application
Does not include all
questions from the FAFSA
Do not mail this worksheet
www.FAFSADAY.org
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The FAFSA on the Web Worksheet—
A Four Section Form
Section 1 – Student information
Section 2 – Student dependency status
Section 3 – Parent financial information for
dependent students
Section 4 – Student financial information
www.FAFSADAY.org
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Section 1
(page 2)
STUDENT INFORMATION
Social Security Number
Demographic Information
Citizenship Status
Selective Service Registration
www.FAFSADAY.org
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Section 1
Citizenship Status
If U.S. citizen, status will be confirmed by Social Security match
If eligible noncitizen, status will be confirmed by Department of
Homeland Security (DHS) match. This includes:
U.S. permanent residents with I-551
Conditional permanent residents with I-551C
Eligible noncitizens with I-94 with certain designations
Certification from Department of Health and Human Services with
designation of “Victim of human trafficking”
A resident of the Republic of Palau (PW), the Republic of the Marshall
Islands (MH), or the Federated States of Micronesia (FM)
A Canadian-born Native American under terms of the Jay Treaty
If neither a citizen or eligible noncitizen, the student is ineligible
for federal/state aid, but may be eligible for institutional funds
www.FAFSADAY.org
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Section 1
High School Completion Status
An important question NOT on the Worksheet:
High School Completion Status
When the student begins college in the
2012-2013 school year, what will be the
student’s high school completion status?
High school diploma
GED certificate
Home schooled
None of the above
www.FAFSADAY.org
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Section 1
High School Completion Status
An important question NOT on the Worksheet:
If student selects High School diploma
they will be required to list the high school
they received or will receive diploma from
FAFSA on the Web allows students to
search for high school by name, city and
state
www.FAFSADAY.org
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Section 1
Interest in Receiving Federal Work-Study
An important question NOT on the Worksheet:
FAFSA on the Web asks If the student is interested in
being considered for Federal Work-Study
Indicating interest does not obligate the student
to work nor will it cause the student to lose grants and
scholarships
Answering “no” may restrict the students
opportunity to utilize Federal Work-Study
www.FAFSADAY.org
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Section 1
School Selection
An important question NOT on the Worksheet:
FAFSA on the Web allows the student to list up to 10
colleges/universities that will receive his/her student and
parent information
list all schools where student is applying for admission
If school code is not known you may search by city, state or
college name
If the student is applying to more than ten colleges, wait for
the processed Student Aid Report (SAR) before deleting/adding
additional colleges
www.FAFSADAY.org
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Section 2
(page 2)
STUDENT DEPENDENCY STATUS
www.FAFSADAY.org
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Section 2
Determination of Student Dependency Status
To be considered independent the student must meet one
of the following criteria
24 or older
Married
Graduate Student
Serving on active duty in U.S. Armed Forces
Veteran of U.S. Armed Forces
Have children or dependents who receive more than half of
their support
In foster care, dependent or ward of the court or parents were
deceased any time after age 13
Emancipated minor
In legal guardianship
Homeless, risk of being homeless, or unaccompanied youth
www.FAFSADAY.org
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Section 3
(page 3)
PARENT INFORMATION
Demographic Information
Financial Information
www.FAFSADAY.org
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Section 3
Who is Considered a Parent?
See instructions on page 3 of FAFSA on the Web
Worksheet
Biological or adoptive parent(s)
Stepparent (regardless of any prenuptial
agreement)
In case of divorce or separation, provide information
about the parent and/or stepparent the student lived
with more in the last 12 months
www.FAFSADAY.org
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Section 3
Who is Not a Parent?
Do NOT provide information on:
Foster parents or legal guardians
If the student is in foster care or has a legal guardian,
he/she is automatically considered an independent
student
Grandparents or other relatives
The student must attempt to get biological parental
information
Colleges may use Professional Judgment to allow the
student to file as independent in special situations
www.FAFSADAY.org
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Section 3
Parents’ Tax Return Filing Status for 2011
The student will be asked to provide information about
parent tax filing status for 2011:
If his/her parents have completed their 2011 federal income tax
return, mark the first box
If they have not as yet filed, but plan to file a 2011 federal
income tax return, mark the second box
If they have not, nor will not, file a 2011 federal income tax
return and are not required to do so, mark the third box
www.FAFSADAY.org
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Section 3
Parent 2011 Adjusted Gross Income
If the student’s parents have not yet filed their 2011
federal tax return, use estimated information for this
question
If the student’s parents have completed their 2011
federal tax return, use actual 2011 tax return
information to complete this item.
Reminder: If the answer is zero or the question does not
apply, enter 0
www.FAFSADAY.org
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Section 3
Money Earned from Work by Parent(s) in 2011
Use W-2 forms and other records to list all income
earned from work in 2011 (including business income
earned from self-employment) for father/stepfather
and/or mother/stepmother
www.FAFSADAY.org
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Section 3
Dislocated Worker
The student will be asked to check if the father/stepfather and/or
mother/stepmother is a dislocated worker
A person may be considered a dislocated worker if he/she:
is receiving unemployment benefits due to being laid off or losing a
job and is unlikely to return to a previous occupation
has been laid off or received a lay-off notice from a job
was self-employed but is now unemployed due to economic
conditions or natural disaster
is a displaced homemaker
www.FAFSADAY.org
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Section 3
Parent 2011 U.S. Income Taxes
An important question NOT on the Worksheet:
What was the amount parents’ U.S. income tax for 2011?
Found on federal tax return: IRS Form 1040-Line 55; 1040ALine 35; or 1040 EZ-Line 10
Not the amount withheld from parents’ paychecks
www.FAFSADAY.org
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Section 3
IRS Data Retrieval Tool
Used to upload federal tax data directly to FAFSA on
the Web
Available after February 1st
2011 federal tax return must be submitted
If student or parents initially estimate tax data to
complete FAFSA, IRS Data Retrieval tool should be
used to update FAFSA and submit actual tax data
www.FAFSADAY.org
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Section 3
Parents’ Household 2010 or 2011 Benefits
Received
Indicate if the student, his/her parents, or anyone
in the parents’ household received benefits in 2010
or 2011 from any of the federal programs listed
Actual amounts received are not reported
www.FAFSADAY.org
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Section 3
2011 Parent’s Additional Financial Information
Check all items received or paid in 2011
FAFSA on the Web will ask for amounts
received/paid
www.FAFSADAY.org
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Section 3
2011 Parent Untaxed Income
Check all that apply in 2011
FAFSA on the Web will ask for amounts
received
www.FAFSADAY.org
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Section 3
Parent Assets
Parents may be asked to report:
Current balances of cash, savings and checking accounts
Net valued of investments such as real estate, rental
properties, money market and mutual funds, stocks, bonds,
college savings and other securities
Net value of businesses and investment farms
Note: Do not include the value of your primary residence, the
value of life insurance, retirement accounts and small
family businesses as described in the FAFSA instructions.
www.FAFSADAY.org
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Section 3
Parent Household Size
An important question NOT on the Worksheet:
Parent Number in Household
Include in the parents’ household:
The student
Parent(s)
Parents’ other dependent children, if
the parents provide more than half their
support or the children could answer “no” to every question in
Section 2
Other people, if they now live with the parents and will continue to
do so from 7/1/12 through 6/30/13, and if the parents provide more
than half their support now, and will continue to provide support
from 7/1/12 through 6/30/13
www.FAFSADAY.org
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Section 3
College Students in the Parent Household
An important question NOT on the Worksheet:
College Students in the Parent Household
Always include the student even if he/she will attend college
less than half-time in 2012-2013
Include other household members only if they will attend at
least half-time in 2012-2013 in a program that leads to a college
degree or certificate
Do not include the parents
NOTE: Some financial aid offices will require proof that other
family members are attending college
www.FAFSADAY.org
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Section 4
(page 4)
STUDENT FINANCIAL
INFORMATION
www.FAFSADAY.org
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Section 4
Student Information
Questions in Section 4 are identical to the
parent financial questions we covered in
Section 3
If the student is single, ignore references to
“spouse”
If the student is married, report spouse’s
income and assets
Skip the student’s adjusted gross income
question if the student is not required to
file taxes
www.FAFSADAY.org
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Submitting the FAFSA
Student and parent sign the online
application by providing PIN or mailing a
signature page
Confirmation will be received after
submitting application
Print the confirmation page for your records
You may also email the confirmation
www.FAFSADAY.org
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Special Circumstances
Contact the Financial Aid Office if there are
circumstances which affect a family’s ability to
pay for college such as:
Loss or reduction in parent or student income or assets
Death or serious illness
Natural disasters affecting parent income or assets
Unusual medical or dental expenses not covered by
insurance
Financial responsibility for elderly grandparents
Or any other unusual circumstances that affect a
family’s ability to contribute to higher education
www.FAFSADAY.org
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What Happens Next?
FAFSA information is sent to colleges listed on the application and
Students receive Student Aid Report (SAR) from federal
processor
Students and families review SAR for important information and
accuracy of data
Colleges match admission records with financial aid applications
and determine aid eligibility
Colleges send notices of financial aid eligibility to admitted
students who have completed all required financial aid forms
www.FAFSADAY.org
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Student Aid Report (SAR)
After the student completes the FAFSA on the Web, a
SAR will be sent to the student
An electronic SAR Acknowledgment will be sent if
student provides an email address
A paper SAR will be mailed if no student e-mail address
is provided
An electronic copy of the data will be sent to each
college or university listed by the student in Section 1
Keep a copy of the SAR with other financial aid
documents
www.FAFSADAY.org
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Questions?
Please remember to complete the FAFSA Day Survey before you leave!
You can also share feedback with us at
www.facebook.com/FAFSADayMA or www.twitter.com/FAFSADayMA
THANK YOU
www.FAFSADAY.org
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