Jump to first page Presenter: Stan Werne Vincennes University Director of Financial Aid and Member of Indiana Student Financial Aid Association Welcome to Financial Aid

Jump to first page Federal Financial Aid Programs Need-based Grants are not paid back: Pell Grant SEOG Grant (limited funds) Loans have to be paid back: Subsidized Stafford Student Loan Earn a pay check for hours worked: Work-Study (limited funds) Non-need-based Unsubsidized Stafford Student Loan Parent PLUS Loan

Jump to first page State of Indiana Financial Aid Commission of Higher Education: Div. of Student Financial Aid Grant Programs Frank O’Bannon & Incentives - Academic/Technical Honors Incentive - Accelerated Completion Incentive - Associate Degree Incentive 21 st Century Scholars Scholarships -William A. Crawford Minority Teacher Scholarship -Next Generation Hoosier Educators Scholarship

Jump to first page Tuition Remission At state college or university - National Guard members Apply via link on in.gov/che & work with CO or education officer. - Children or spouse of disabled/deceased veterans or Purple Heart recipients - Veterans who are Purple Heart Recipients - Children of POW/MIA’s Apply via link on in.gov/che to IN VA. - Children/spouse of state police officers/ fire fighters/EMTs killed in line of duty Apply via in.gov/che.

Jump to first page eStudent will become Scholar Track in Feb.(?)

Jump to first page Your key to financial aid: FAFSA Free Application for Federal Student Aid

Jump to first page Why Free Application for Federal Student Aid (FAFSA) is key: Family’s demographic and financial information is required to calculate expected family contribution (EFC). Why needed?

Jump to first page Financial Aid Need Calculation U.S. Department of Education Definition of Financial Aid Need Cost of Attendance (COA) Varies from school to school Minus Expected Family Contribution (EFC) Same for all schools--results of your FAFSA Minus Scholarships & other resources Equals Financial Aid Need

Jump to first page Part of Financial Need Calculation Cost of Attendance (VU/VUJC ) Direct costs Tuition & fees ($5574 – 30 credits/year) On-campus Room & board ($9332) ********************************* Indirect costs (At-home “room & board” ($2388)) Books & supplies ($1274) Transportation ($1778) Miscellaneous ($1076) Loan fees ($64) Program expenses (varies) Total: $19,098/$12,154

Jump to first page Sample Aid Packages 1 & 2 Suppose dependent student living with parents or relative:#1#2 COA $12,154 $12,154 EFC - 2, $9,654 $12,154 Pell grant- 3, ,815 $6,289$6,339 Subsidized loan- 3,500- 1,000 (FSEOG) $2,789$5,339 Unsubsidized loan- 2,000- 3,500 (Sub loan) $ 789$1,839 -1,839 (Unsub loan) $ 0

Jump to first page Suppose student on/off campus: #3#4 COA$19,098$19,098 EFC- 2, $16,598$19,098 Pell grant- 3,365- 5,815 $13,233$13,283 SEOG- 0- 1,000 $13,233$12,283 Subsidized loan- 3,500- 3,500 $ 9,733$ 8,783 Unsubsidized loan- 2,000- 2,000 $ 7,733$ 6,783 PLUS/unsub loan- 4,000- 4,000 Sample Aid Packages 3&4

Jump to first page Deadlines State grants: Submit FAFSA no later than March 10, Check college/university deadlines! State grants: Correct “edits”. Check eStudent/Scholar Track. Correct FAFSA no later than May 15, 2017.

Jump to first page n FAFSA on the Web became available Oct. 1. n still available until June 30, 2017 for current academic year. (Some use for summer 2016.)  Both use 2015 tax & income info.

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FAFSA Step 1: Student information and plans: SSN, DOB, marital status, (for state notifications), Selective Service, school level ? Step 2: School choices: n Up to 10 schools (codes online). n Housing plans: on/off campus or with parents?

Jump to first page FAFSA Step 3: Student must submit parent data if answers = “No.” n Born before Jan. 1, 1993? n Grad student, active duty military, or veteran? n Provide more than half support for child or other dependent? n Since age 13, in foster care, ward of court, or parents deceased? n Emancipated minor or in guardianship (before turning 18)? n Homeless or unaccompanied youth?

Jump to first page FAFSA Step 4: Parental information: n SSN, DOB, marital status, residency, # in household, # in college? n Marital status question about legal parents (biological or adoptive) regardless of gender:  Never married  Unmarried & both parents living together  Married  Remarried (including stepparent)  Divorced or separated (custodial parent or parent student lived with most during 2015)  Widowed

Jump to first page FAFSA Step 5:Financial information Parents: 2015 federal tax & income info. Current checking, savings, investments? NOT retirement accounts, home you live in, farm you work, or business with 100 or fewer full-time employees. Use the IRS Data Retrieval process if you can. Parents: Additional info: Child support paid? Untaxed income? Dislocated worker? Recipient of federal benefits?

Jump to first page FAFSA Step 5: Continued: Student: 2015 federal tax/earnings info. Current checking, savings, investments? Untaxed income? Recipient of federal benefits? Use the IRS Data Retrieval process if you can.

Jump to first page FAFSA Step 6: E-sign with FSA IDs and submit: n Both student & parent e-sign. n Be sure to click SUBMIT button, then print confirmation page. n If submitting corrections, be sure both e-sign and submit. Print confirmation page.

Jump to first page FSA ID (username & password) PIN is obsolete.

Jump to first page FSA ID n Can be accessed at or at fafsa.gov by clicking on the FSA ID icon. n If is used (strongly suggested), it must be unique to each FSA ID. u Student’s & parent’s must be different. n Requires a Social Security Number.

Jump to first page FSA ID n Enter (Students: Do not use HS ). n Create username & password. u Hint: Select the box to view what is typed! u Password cannot contain your name. n Challenge questions: u Select 2 from options provided, then answer. u Create 2 of your own and answer. u Enter significant date. (Can’t be your DOB). n Record all these for future reference.

Jump to first page FAFSA filed. Then what? One of three results: n EFC without verification n OR FAFSA reject/no EFC: major error n OR FAFSA processing center identifies student for verification. u Return to FAFSA to use IRS data retrieval or request IRS tax return transcript to verify income and tax information. u Submit other documentation as required by school.

Jump to first page But my tax return is misleading because… What can I do? n Ask at school to request consideration of special circumstances. n Submit verification and other supporting documentation as requested. n Financial aid officers can make professional judgments. n Maybe grant or subsidized loan eligibility can result.

Jump to first page Other Sources of Aid n College/university scholarships = u Ask at admissions or financial aid offices. (VU priority deadline is Jan. 15, 2016.) n Private scholarships = u Employers’ programs u Community foundation u Professional organization Web sites u Web sites like n Need not be academic, artistic, athletic star to get scholarships.

Jump to first page CAUTION! n Don’t pay a fee to file the Free Application for Federal Student Aid or search for scholarships. u Filing & processing of the FAFSA are FREE. u For FAFSA on the Web, be sure to go directly to Don’t just google FAFSA. u Contact any financial aid office for questions. u College Goal Sunday, Nov. 13, u College Goal Sunday, Feb. 12, u Both at VUJC, 2:00-4:00.

Jump to first page Good Luck!

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