FINANCIAL AID….. IN THE BEGINNING

Slides:



Advertisements
Similar presentations
Finding Money for College 11/7/2011 Clyde High School.
Advertisements

Finding Money for College Basics of Financial Aid and the FAFSA [Presenter Name | Presentation Date]
Finding Money for College Basics of Financial Aid and the FAFSA Jessica Swihart and Rebecca York-Alcorn | December 4, 2014.
Finding Money for College December 10, 2008 Additional Financial Aid Information.
Finding Money for College Presented by: Steven D’Ambrosio Camden County College.
Finding Money for College January 15, 2014 Norwich Technical High School.
Finding Money for College Basics of Financial Aid and the FAFSA Office of Financial Aid University of Mary Washington.
Finding Money for College January 17, 2013 San Gabriel Mission High School.
Financial Aid for your Education The Financial Aid Process The University of Akron – Office of Student Financial Aid and Employment | January 28, 2015.
Finding Money for College Basics of Financial Aid and the FAFSA Northwestern Lehigh HS Counseling Department May 2015.
Finding Money for College Basics of Financial Aid and the FAFSA Raymond Rodgers
FREE APPLICATION FOR FEDERAL STUDENT AID FAFSA. WHAT IS THE FAFSA? Free Application for Federal Student Aid Administered by the office of Federal Student.
Finding Money for College Basics of Financial Aid and the FAFSA [Presenter Name | Presentation Date]
Finding Money for College October 14 th 2010 Windham Exempted Village School District.
Finding Money for College February 6, :00 PM Flower Mound High School Iris Cook & Chris Hubbard.
Free Application for Federal Student Aid (FAFSA)
Finding Money for College Basics of Financial Aid and the FAFSA [Narietha D. Carter-McClain | December 2, 2014]
Finding Money for College September 18, 2012 Park Hill High School Counseling Department.
Finding Money for College. 2 We will talk about: Federal student aid State student aid Student aid from colleges Scholarships from other sources.
Finding Money for College Insert date of presentation Insert location, your name, etc.
Finding Money for College September 21, 2010 Lynda McKendree Dean of Scholarships and Financial Aid University of St. Thomas.
Finding Money for College. 2 We will talk about: Federal student aid State student aid Student aid from colleges Scholarships from other sources.
Finding Money for College Basics of Financial Aid and the FAFSA Susan Bryant Financial Aid Officer Chattahoochee Valley Community College.
Financial Aid 101 Basics of Financial Aid Free Application for Federal Student Aid (FAFSA) CSS/Financial Aid Profile Academic School Year
Financial Aid 101 EVERYTHING YOU NEED TO KNOW ABOUT FINANCIAL AID.
Finding Money for College Bristow High School Catherine Boomer.
Finding Money for College Basics of Financial Aid and the FAFSA [Presenter Name | Presentation Date]
College: Funding Your Future Financial Aid & FAFSA Basics January 2016.
Finding Money for College Basics of Financial Aid and the FAFSA Michael Jones | DEC 2015.
Finding Money for College Basics of Financial Aid and the FAFSA [Amanda Pearson and Krys Konow| January 14 th, 2015.
OPEN YOUR DOOR AND LIVE YOUR DREAM TO ACHIEVE… YOUR FAFSA fafsa.gov YOUR Career alcareerinfo.org YOUR College jsu.edu/finaid YOUR Future mynextmove.org.
FAFSA Workshops-Finding Money For College Frontier International Academy By Iman Harp School Counselor.
Finding Money for College Basics of Financial Aid and the FAFSA Rebecca York-Alcorn Thursday, February 18.
FINANCIAL AID Holt High School Kathy Freeman, EdS Counselor
Paying for College. Types of Aid Grants, Scholarships, Work-Study, and Educational Loans Grants and Scholarships - Student does NOT pay back Grants are.
Finding Money for College Financial Aid and the FAFSA ID FAFSA on the Web Preview September 2016 Angelia McLeroy Trinity Valley Community College.
What You Need to Know About Financial Aid
The Financial Aid Process
UTRGV Financial Aid Office
Paying for college Regional College Fair Financial Aid Session
Figuring Out Financial Aid and the FAFSA December 11, 2014
Everything you need to know about paying for college!
After this program, you will have learned about…
Topics to discuss What is financial aid? Cost of Attendance
UNM Family Connection Student Financial Aid
Welcome to Financial Aid Information Night
Opening the door to your future
Understanding The Financial aid process
Financing Your Students Education
Financial Aid 101 Paying for College.
Financing Your Students Education
FINANCIAL AID & SCHOLARSHIPS
Financial Aid Explained
WELCOME! Rosie Castaneda Assistant Director September 26, 2017.
FINANCIAL AID 101 STEPHANIE MILLER Jacksonville State University
paying for college opening the door to your future
Financial Aid : What you REALLY need to Know
Agenda What is financial aid? What are the types of financial aid?
Aldine ISD Guidance and Counseling Department
Free Application for Federal Student Aid
Helping Families Find Money for College
Affording Higher Education
After this program, you will have learned about…
Kelly Fox Financial Planning Coordinator Central Penn College
September 25th, 2018 Lockport High School
Financial Aid 101: Paying for College
Student Aid Report (SAR)
Your Guide to Financial Aid
Introduction to Financial Aid
Financial Aid 101 Fall 2019.
Presentation transcript:

FINANCIAL AID….. IN THE BEGINNING

LIVE YOUR DREAM TO ACHIEVE… OPEN YOUR DOOR AND LIVE YOUR DREAM TO ACHIEVE… YOUR FAFSA fafsa.gov   YOUR Career alcareerinfo.org YOUR College YOUR Future mynextmove.org PRESENTED BY: STEPHANIE MILLER President-Elect, Alabama Association of Student Financial Aid Administrators FA Solutions, LLC Future FAFSA Career College

OVERVIEW What is financial aid? Who can get it? How much can I get? How do I apply? What happens next? Where can I get more info?

You are NOT alone! EVERYONE has questions! Don’t be afraid to ask for help! Financial Aid Professionals and Counselors are here to help!!!

What is Financial Aid? Money to pay for college or career school Grants Loans Work-study Scholarships

Who can receive aid? U.S. citizen or permanent resident High school graduate/GED holder Eligible degree/certificate program Valid Social Security number Males registered for Selective Service Satisfactory academic progress in college/career school

WHERE DO I BEGIN? The first step in the financial aid process is to complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov. It is FREE!!!!!!

Apply for Aid: FAFSA Resources on this website are also available in Spanish. The Department of Education's Office of Federal Student Aid provides financial aid in the form of loans, grants, and federal work study funds. Completing the Free Application for Federal Student Aid (FAFSA) is the first step in applying for federal grants, and loans. Remember, the first word in FAFSA is “FREE” – there’s no need to pay anyone to help you complete the FAFSA. Look for free FAFSA completion workshops offered by area high schools, colleges and community organizations to get help completing your FAFSA. Real-time help to complete your FAFSA is available by phone at 1-800-4FED-AID . You can also chat live with a customer service representative in a secure online chat session. Don’t assume that you may not be eligible to receive federal student aid! This application provides access to largest source of college funding, and your school will also use it to determine eligibility for institution-based financial aid. FAFSA4caster will help you understand your options for paying for college. Provide some basic information and the FAFSA4caster will estimate your eligibility for federal student aid. Your estimate will be shown in the "College Cost Worksheet" where you can also provide estimated amounts of other student aid and savings that can go towards your college education. Visit the following website to access the FAFSA4caster: https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1 Takes less than 30 minutes to complete online at https://fafsa.ed.gov Real-time help is available by phone at 1-800-4FED-AID , or via on-line chat IRS Data Retrieval Tool pre-populates tax information: http://studentaid.ed.gov/fafsa/filling-out#financial-info Determines families’ ability to contribute to cost of attendance

WHY DO I NEED A FAFSA? FAFSA completion starts the application process for Federal Pell Grants, Iraq & Afghanistan Service Grants, Federal Student Loans, Federal Parent PLUS Loans, Federal Work Study, Supplemental Grants, Perkins Loans, TEACH Grants and some scholarships depending on the organization. - Even if you know you won’t qualify for a grant, you never know when you might need extra help.

What? A FSA ID?? Get a FSA ID at fsaid.ed.gov. To sign the FAFSA electronically on the web, the student and the parent must have a FSA ID. Get a FSA ID at fsaid.ed.gov. Your parent will need a FSA ID too. Choose your own FSA ID or let the site choose one for you. Don’t tell anyone your FSA ID! OR Go to www.fafsa.gov, click FSA ID, click Create an FSA ID **If someone already has a FSA ID, use the Forgot my Username and/or Password

WHEN DO I START? The FAFSA becomes available for the upcoming school year October 1st. For example: If a student is attending Fall 2018 and Spring 2019, the 2018-2019 FAFSA should be filed. In most cases, if a student is attending the Summer 2018 prior to the Fall 2018 term, most schools will require the 2017-2018 FAFSA to be filed. **You must complete the FAFSA every year. **You may do a renewal after your first year.

WHY DO I NEED TO START SO EARLY? The earlier you complete the FAFSA the more likely you are to receive additional funding that may be available. - Some schools receive additional federal, state and/or institutional grants that have very limited funding. These grants may be given to students on a first come, first serve basis for those who qualify.

WHO GOES ON THE FASFA? The FAFSA states that a student must use his/her biological parent(s) who he/she lived with more during the past 12 months. If did not live with one more than the other, give answers about the parent(s) who provided more financial support during the previous year. If the biological parent is remarried, the student must use the step parent’s information too even if they do not provide the student with any support. Grandparents or other relatives are not considered parents for FAFSA unless they have legally adopted the student It does not matter who filed whom on taxes. If your biological parents are not married, but live together in the same household both parent’s information must be on the FAFSA. https://studentaid.ed.gov/sa/sites/default/files/fafsa-parent.pdf

Student and parent(s) need to gather information for the FAFSA: Social Security Card Name (Use the name as appears on the card.) Driver’s License for student only Dates of Birth Social Security Number IRS Tax Returns Asset Information: bank and retirement plan statements, current business and investment mortgage information, business and farm records, stocks, bonds and other investment records Free & Reduced Lunch, Food Stamp, Welfare and TANF Information Social Security and Disability Benefits Veteran’s Benefits W2 Forms Additional Income or Benefit Information Documentation of U.S. Permanent Resident or other Eligible Noncitizen information

Why do I need tax information? The U.S. Department of Education uses all of the information on the FAFSA to determine what types of aid a person will be able to receive. The tax information is one of the main criteria in determining if a student is eligible for need based aid. The FSA ID is used with the FAFSA IRS Data Retrieval Tool (IRS DRT). This tool allows filers to pull in the tax information directly from the IRS. Not all filers are eligible to use the Retrieval Tool: If any of the following applies, a filer may not be eligible to use the IRS Data Retrieval Tool: You filed taxes as married filing separately You are married and you filed taxes as Head of Household You filed an amended tax return You filed an electronic tax return less than three weeks ago You filed a paper tax return less than six weeks ago You filed a Puerto Rican or foreign tax return You have an identity theft situation with the IRS

The FAFSA is filed…..now what? Once the FAFSA has been processed by the U.S. Department of Education, an email will be sent to the student’s email address as listed on the FAFSA. The processed FAFSA is known as a Student Aid Report (SAR). The SAR gives an Expected Family Contribution (EFC). **Watch for e-mails or letters from the schools you are considering. Give the schools any additional paperwork they ask for. Meet all deadlines or you could miss out on aid!

Why would someone need more paperwork? Wasn’t the FAFSA enough? The government may select a filer for a process called Verification. Verification is a random selection that requires the filer to complete a verification worksheet, supply the IRS Tax Return Transcript, food stamp verification, child support payment verification and other items to the school. The school may also ask for additional documents. Each year the documents requested may change.

WHAT TYPES OF AID CAN I QUALIFY FOR BY COMPLETING THE FAFSA? -Federal Pell Grants, Iraq & Afghanistan Service Grants Federal Student Loans, Federal Parent PLUS Loans, Federal Perkins Loans, Federal Work Study, TEACH Grants and Supplemental Grants. - Federal Pell Grants, Federal Subsidized Student Loans, Federal Perkins Loans, Supplemental Grants and Federal Work Study aid are need based aid. - Federal Unsubsidized Student Loans, TEACH Grant and Parent PLUS Loans are not need based aid. *Please note that all students are not eligible for need based aid.

WILL MY FAFSA PAY FOR EVERYTHING? The FAFSA doesn’t pay for anything, your financial aid package/award shows what funds have been offered to you. The Government assigns you an Expected Family Contribution (EFC) Number that lets the school know your need for Pell Grant and other need based aid. - In most cases, no, your financial aid package will not cover all of your expenses. Federal Student Aid is not designed to pay for everything. It is a supplement to help you/your parents with educational costs. - First time freshman can only receive $5500 in student loans ($2750 for the fall and $2750 for the spring.) - Parents may apply for PLUS loans that will be in their name or if declined will allow the student to apply for an additional $4000 for the academic year. - The maximum full time pell grant for 2017-2018 is $5920 ($2960/$2960 a semester). 2018-2019 amount is not currently available (will be coming soon) There are lifetime limits on federal student loans and pell grants. - Funds from other programs are available; see StudentAid.gov/needmoney for details. **Apply for scholarships – www.fastweb.com *Many college scholarship applications open Oct. 1

US Department of Labor Scholarship Search careerinfonet US Department of Labor Scholarship Search careerinfonet.org/scholarshipsearch

Comparison Shop Apply for aid Budgeting & Borrowing Manage Debt College Navigator College Scorecard Net Price Calculator Comparison Shop Free Application for Federal Student Aid (FAFSA.gov) Financial Aid Shopping Sheet Apply for aid Budgeting & Borrowing StudentAid.gov Financial Awareness Counseling Tool (FACT) Manage Debt Entrance and Exit Counseling Repayment Estimator Stay Informed StudentAid.gov

Expected Family Contribution (EFC) If you don’t know the terminology…check out STUDENTAID.GOV Shopping Sheet Award letter Expected Family Contribution (EFC) Financial aid package Financial Aid Offer Cost of Attendance (COA)

Stay Informed: StudentAid.gov StudentAid.gov DESKTOP and MOBILE DEVICE browsing available Get ready for college or career school, learn about federal student aid and how to apply using the FAFSA, and get information on repaying student loans at www.StudentAid.gov to The site offers powerful, intuitive tools to assist you in searching for colleges, applying for aid, and managing loan repayment.

Stay Informed: Social Media https://www.facebook.com/FederalStudentAid https://twitter.com/fafsa Stay in touch whether its via the Federal Student Aid website (StudentAid.gov) or via Twitter or Facebook. Federal Student Aid offers many valuable tools and resources to help students before, during, and after school. http://www.youtube.com/user/FederalStudentAid

Federal Financial Literacy Information http://www.fdic.gov/consumers/consumer/moneysmart/ http://www.mymoney.gov/Pages/default.aspx http://www.consumer.gov http://www.federalreserveeducation.org http://www.treasury.gov/Pages/default.aspx

QUESTIONS ?????