“An investment in knowledge always pays the highest return “An investment in knowledge always pays the highest return.” -Benjamin Franklin

Partnerships

Applications Application for Admission May double as a scholarship application Apply early for best opportunity Free Application for Federal Student Aid (FAFSA) Federal financial aid application Apply online at fafsa.gov between October 1 and April 15 prior to the start of the academic year (10/1/2017 – 4/15/2018 for 2018-19) Note: Some school may have earlier FAFSA deadlines Application must be completed every year Institutional Aid Application or the CSS PROFILE Check with each school for required applications

The efc – from the fafsa Calculated by the FAFSA Score of family’s financial strength Used to determine federal, state, and institutional aid Ranges from 0 to 999,999

Cost of Attendance (COA) Direct costs typically charged by the college: Tuition and fees Cost of meal plans on campus + Cost of living in dorms + Indirect costs that may not be charged by the college: Allowance for books and supplies Allowance for personal expenses and a few meals out Allowance for transportation + +

Financial Eligibility Total Cost of Attendance Expected Family Contribution (EFC)* Financial Need *Note: This is not the same as the student’s bill or the amount a family will actually pay for the student to attend college

Comparison of Need High Cost School Low Cost School Cost $50,000 $25,000 (-) EFC (=) Need $0 *The EFC remains the same at each school

Financial Aid Offer May be sent via mail, email and/or portal Includes all Federal, State, and Institutional Aid Financial aid offers are sent as early as November and as late as April Every school is different

Family responsibility (Out of Pocket Expenses) Direct Costs Financial Aid Offered Out of Pocket Expenses

Types of Financial Aid Gift Assistance Self-Help Institutional Gift Programs Federal Grants State Grants Federal Direct Loan Program Federal Work Study

Financing Options College Savings Plans Payment Plans Federal Direct Parent PLUS Loans Private Education Loans

Outside scholarships Free Online Scholarship Searches fastweb.com finaid.org collegeboard.org collegeanswer.com High School Guidance Office Community Foundations Employers Churches Civic Organizations

Is this College Affordable? A candid review of family resources is essential. Parents – Current income Savings or investments Home Equity College Savings Plans Student – Summer earnings Academic year earnings Other resources

Tips & Strategies File the FAFSA Be informed Set goals/expectations for student Meet deadlines! Keep copies! Keep a positive attitude Consider all aid options Ask for help

Completing the Free Application for Federal Student Aid (FAFSA)

fafsa.gov For the 2018-19 academic year complete the FAFSA between October 1, 2017 and April 15, 2018.

fsaid.ed.gov Create an FSA ID - username and password. One parent of a dependent student is required to sign the FAFSA using the FSA ID. The student and parent must have unique email addresses. Create new FSA ID at least 3 days prior to submitting the FAFSA.

What you need Social Security Card Student & Parent’s Earned & Untaxed Income Prior-Prior Year Income Information For 2018-19 FAFSA, use 2016 income Federal income tax returns W2 forms Child support received and paid Pre-taxed retirement contributions Bank Statements & Investment Records For assets, report current values as of the day you complete the FAFSA

Investments include: Real estate (not the home you live in) Rental property Trust funds UGMA & UTMA accounts (owner) Money market funds Mutual funds Certificates of deposit Stocks and stock options Bonds Other securities, etc. Educational savings accounts Always report as a parent asset Only report the net value of all investments

Investments do not includE: The home you live in Life insurance policies Retirement plans 401(k) plans, pension funds, annuities, non-education IRAs, Keogh plans, etc. Family farm you live on and operate Small business you and your family own and control more than 50 percent with 100 or fewer full-time or full-time equivalent employees

Who’s my parent(s) for the FAFSA? “Parent” means your legal (biological or adoptive) parent or stepparent The following are not considered “parents” unless they have legally adopted you: Widowed Stepparent Grandparents Foster Parents Legal Guardians Older Brothers or Sisters Aunts or Uncles

Who’s my parent(S) for the FAFSA? StudentAid.gov/fafsa-parent

FAFSA – Login Login with FSA ID Name, SSN, and Birthday MUST be correct Start 2018-2019 FAFSA Create a Save Key to return to FAFSA Introduction Page

FAFSA – Student Demographic Information Fill in all blanks Refer to “Help and Hints” for guidance Be sure to provide email Fields populate next year when doing renewal FAFSA

FAFSA – Student Eligibility MUST be U.S. citizen or eligible non-citizen Males MUST register with Selective Service; register through FAFSA

FAFSA – Student Eligibility continued Enter high school information Information entered will be matched Select correct match

FAFSA – School Selection Select colleges to send your FAFSA Search by school name or code May add up to 10 schools Can view school information Select housing plans

FAFSA – Dependency Determination Must answer “yes” to one of the questions to be considered independent on the FAFSA School may require documentation if you answer “yes”

FAFSA – Dependency Status Results Dependent students provide parental information

FAFSA – Parent Demographics Information Enter parents’ SSN, name, birthday Household Size and number in college Do NOT include parents as college students

FAFSA – Parent Tax Information Already completed Will file – shouldn’t use since 2016 tax deadline has passed Not going to file

FAFSA – Parent Tax Information Use the IRS Data Retrieval (IDR) Tool whenever possible Must have parent FSA ID to “Link to IRS”

FAFSA – Parent Financial Information Manually enter income if not eligible for IDR “Help and Hints” will tell you what line to use from the 1040

FAFSA – Parent Financial Information continued Report any additional/untaxed income Review W2 box 12 for retirement contributions Report assets at the bottom

FAFSA – Student Tax and Financial Information Already completed Will file Not going to file If not filing, the student still has to report any wages

FAFSA – Student Financial Information continued Student will report any untaxed income and assets just like parent

FAFSA – Sign & Submit Student & Parent both sign using the FSA ID

FAFSA – Confirmation Don’t forget to click “SUBMIT” A “SAVED” application will not be processed and could result in a missed deadline Print a copy of the confirmation page The EFC is calculated immediately and printed on the confirmation page

Additional Information Special Circumstances If the FAFSA does not reflect your current financial situation, contact the financial aid office at each school. Indiana Residents MUST file by April 15 For consideration of state aid FAFSA Help Federal Student Aid provides free help online at fafsa.gov and 1-800-4-FED-AID Contact the financial aid office where you are applying