“…Education is when you read the fine print. Experience is what you get if you don’t!” - Pete Seeger Presented by: Maureen “Mo” Sigler, Associate Director of Financial Aid Boise State University

Help you to get answers that you need; Reduce your financial aid anxiety; Help you complete the FAFSA in an accurate and timely manner; Explain the different types of financial aid; Respond to your unique situations.

Grants Scholarships Employment Opportunities Loans

Yes -- if non-income eligibility items are met Students with financial need may qualify for Federal grants. All new, degree-seeking students are eligible for at least one loan  Subsidized loan (need-based)  Unsubsidized loan (not need-based) Loan Limits for dependent students  Freshmen$5,500  Sophomore $6,500  Junior/Senior$7,500 Parent PLUS loan up to the school’s Cost of Attendance “I even qualify for an Unsubsidized Loan!!”

Use application if starting Fall 2015 Contact FED AID or the financial aid office if you need help One application for nearly everything  grants  loans  work study  information for need-based scholarships

Personal Identification Numbers until 4/25/2015 FSA ID AFTER 4/25/2015 Issued online by the U.S. Dept. of Education Used as your (student AND parent) electronic signature and view account info  sign online FAFSA  sign electronic promissory note  make corrections to FAFSA  view loan balances  manage account business

Provides confirmation of application information notice sent to student and/or parent Provides your Expected Family Contribution (EFC) Alerts you to “Rejected” status  Inconsistent information  Signatures needed

Student Income Parent Income Untaxed Income Assets Family Size Number Attending College Your EFC is the same at every college!

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Colleges are required to review and verify information a portion of FAFSA applications Selection is often noted on Student Aid Report (SAR) Respond quickly to requests for information “Conflicting Information”

FAFSA Processor Sends Student Aid Report (SAR) to student. Contains EFC & comments. Sends all student information electronically to schools Contacts student for verification documents, to resolve problems or send aid award notice

FAFSA available January 1, 2015 File your FAFSA prior to completing your taxes Submit the FAFSA prior to your school’s deadline Check instructions from each school to ensure maximum consideration for aid:  Required application materials  Application deadlines

Independent students defined by 13 questions, including: Born before January 1, 1992 Married Active military in U.S. Armed Forces Veteran of the U.S. Armed Forces Supporting a dependent child more than 50%

Independent students also defined as: When you were age 13 or older  were both of your parents deceased?  were you in foster care?  were you a dependent/ward of the court? As of today, are you an emancipated minor or in legal guardianship as determined by a court in your state of legal residence? At some point after July 1, 2014, have you been determined to be an unaccompanied youth or homeless?

Parents must provide information on FAFSA  If parents are both living and parenting together– both parents provide information  If parent is single – that parent provides information  If single parent has remarried, both parent and step-parent provide information (regardless of any prenuptial agreement)  Grandparents, foster parents, and legal guardians are not parents for FAFSA purposes Who is considered a parent?

If parents are divorced or separated and living apart- identify parent in the following order:  Parent you have lived with more over the past 12 months.  Parent who provided more financial support over the past 12 months.  Parent who provided more financial support during the most recent year you received financial support. Who is considered a parent?

Go to FAFSA.ed.gov Use the IRS Data Retrieval Tool on the FAFSA

Determining Household Size  Student  Parent(s) (including step-parent)– even if you won’t live with them while in school  Include parents’ other children if:  Parents will provide more than half of their support between July 1, 2015 & June 30, 2016 OR  Children would answer “no” to dependency status questions  Include others if parents provide more than half of their support.

Student & Parent must each use a PIN/Password to electronically sign FAFSA Or print & mail signature page PIN’s can be chosen at the time FAFSA is completed, or requested prior to completion Both student & parent must sign any corrections made to FAFSA

Incorrect Social Security Number or legal name Incorrect parent’s income or portion of income from tax form Skipping each parent’s individual earnings from work Incorrect amounts given for untaxed income and taxes paid Missing signatures Incomplete form Completing the wrong year’s FAFSA

Determines eligibility for financial aid Awards financial aid Provides an award notification explaining the programs and amount of aid Assists student and family when special circumstances occur

* Work? Renewable Scholarships? Savings? Parent Loans? Private Loans? School XSchool YSchool Z COA$ 38,800$ 18,000$ 11,200 - EFC- 2,500 Unmet Need$ 36,300$ 15,500 $8,700 Pell Grant Scholarships $ 2,900 $ 10,000 $ 2,900 $ 500 $ 2,900 $ 500 Federal Loans$ 5,500 Unmet Need$ 17,9006,600$0 Unmet COA$ 20,400$ 9,100$ 2,300

Are the scholarships renewable? If so, what is the criteria for renewal? What is the balance of grants/scholarships, student loans, and work?  Is Parent PLUS loans  Work-study  Perkins Loans  Alternative Student Loans Is there aid available that is not listed on the offer? How will the offered aid change if outside scholarships are received? What factors may cause the aid package to change?

Most actions taken by financial aid offices are mandated by Congress and the U.S. Department of Education. The student will receive communications from the various schools via a school assigned address or online portal. Federal law requires schools to communicate only with the college student…no matter the age of the student…  …UNLESS the student submitted a written consent form with the school. The FAFSA may be selected for a process called verification. Accept only the loan amount absolutely needed! More Important Tips

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