Financial Aid Info Night Presented by:

Changes to the 2017-2018 FAFSA & Dream Act Applications New opening date - October 1st, 2016 PPY - Stands for “prior prior year”

What is Financial Aid? Money that the federal or state government gives or loans students. FAFSA=Free Application for Federal Student Aid FAFSA Website: www.fafsa.ed.gov

Financial Aid- can help families pay. The Free Application for Federal Student Aid (FAFSA) or Ca DREAM Act application is used to calculate an Expected Family Contribution (EFC). The EFC, in combination with the student’s Cost of Attendance (COA), is used to determine financial aid eligibility. COA EFC Need

Student Eligibility for Federal Student Aid U.S. citizen or Permanent Resident Have a Social Security Number High school diploma, GED, or equivalent. Demonstrate financial need Register with Selective Service (males only). Enroll in an eligible degree or certificate program. Good academic progress.

Types of Financial Aid Grants=Free Money Cal Grant A Cal Grant B Cal Grant C Loans=Borrowed Money Subsidized Loan Unsubsidized Loans Work Study =Work for your money Scholarships=Free Money

Major Financial Aid Programs Who can apply Annual awards up to.. Application deadline Forms required Eligibility requirements Cal Grant A undergraduates CSU: $5,472 UC: $12,240 March 2 Verified GPA 3.0 High school GPA Cal Grant B $1,656 (first yr) Fees/Tuition plus 1,473 in 2nd, 3rd, 4th year 2.0 high school GPA, financial need Cal Grant C Technical and career students $547 for books $2,462 tuition for non-CCC Financial need Federal Pell Grant $5,730 Fafsa.ed.gov Financial need (EFC and COA) FSEOG $4,000 Financial need (EFC and COA)not all colleges offer it University of California Student Aid UC undergraduates/Graduate $14,000 State University Grant Undergraduates/graduates Full system- wide fees Iraq and Afghanistan Service Grant For students whose parent or guardian was in U.S. armed forces and died as a result of performing military service in Iraq or Afghanistan after the events of 9/11 Must not qualify for Pell Grant Must be under 24 Up to $5311.71 Special family circumstances

Cal Grant Income and Asset Ceilings Good for Degree and certificate programs. Cal Grant B Entitlement awards provide low-income students with a living allowance and assistance with tuition and fees. Most first-year students receive an allowance of up to $1,551 for books and living expenses. After the freshman year, Cal Grant B also helps pay tuition and/or fees in the same amount as a Cal Grant A. For a Cal Grant B, your coursework must be for at least one academic year. Cal Grant B Competitive Awards are for students with a minimum 2.00 GPA who are from disadvantaged and low-income families. These awards can be used for tuition, fees and access costs ( such as books and supplies) at qualifying California schools whose programs are at least one year in length. These costs include living expenses, transportation, supplies and books. If the student receives a Cal Grant B Competitive Award it can only be used for access costs in the first year. Beginning with the second year, one can use a Cal Grant B Competitive Award to help pay tuition and/or fees at California public or private four-year colleges or other qualifying schools.

Middle Class Scholarship Legislation aimed at making higher education more affordable. Who qualifies for the Middle Class Scholarship? New, transfer and returning undergraduate students to California State University or University of California with a family income of up to $150,000 may be eligible for the Middle Class Scholarship. What are the requirements to receive a MCS? You must be a U.S. citizen, permanent resident, or have AB 540 status; not be incarcerated; not be in default on a student loan; be a California resident; maintain a 2.0 GPA; meet certain income and other financial aid standards; and attend a California State University or University of California campus.

Federal Work Study Eligible students can earn part of their financial aid through working on or off campus. 15-20 hrs per week Obtain experience working in a career- related or community service employment.

Subsidized Stafford loans Must have financial need. 3.76% fixed interest rate (for 2016) for undergraduate students. The federal government pays the interest while student is in school: Must be enrolled half time or more Grace period of 6 six months after graduation, withdrawal, or enrolled in less than half time.

Unsubsidized Stafford loans For eligible students, regardless of their financial resources. The student is responsible for paying the 3.76% (fixed) interest that accrues at the time loan is processed. It’s to student’s advantage to pay the interest while attending school in order to avoid loan debt increase.

Federal Parent PLUS Loans Loan borrowed by parents to help pay for students college costs. Interest rate is fixed at 4.276% depending on the loan program and college/university student attends. Amount borrowed depends on credit eligibility and college costs. Can borrow the total amount of undergrad study minus any aid received.

Private Loans Loan to be considered if grants and Federal student loans do not cover all college costs. Loan amount and interest rate are based on credit eligibility of student and/or parents. Interest rate is higher than federal student loans.

When Completing the FAFSA…

Important things to know: Student Demographics: Name MUST match the Social Security Card. School Selection: Students who applied to CSU’s, UC’s and Private schools should include top school for each system. Emancipated Minors: select yes ONLY if the student can provide a copy of a court’s decision that as of today, he/she is an emancipated minor 2017-2018 School year: Your student will be filling out the 2017-2018 FAFSA, because that is the year they will start COLLEGE, not their senior school year. Make sure you don’t submit 2016-17!

Foster Care Foster Care: Select yes if at any time since the student turned 13, he/she was in foster care even if the student is no longer in foster care today due to: Adoption (even for a day) Reunification Reached the age of majority (18yrs) Note: Documentation may be required

Homeless, Unaccompanied Youth: Select yes if any time after July 1 ,2015, the student meets all three criteria Lacking fixed, regular and adequate housing. Includes living in shelters, motels, cars, or temporarily living with other people because you had nowhere else to go. “Unaccompanied”: Not in the physical custody of a parent or guardian. “Youth” Under 21 years of age

Professional Judgment and Dependency Status The Financial Aid Office has authority to make a dependent student independent if unusual circumstances exist: An abusive family environment Abandonment by parents Inability to locate parents

Professional Judgment and Dependency Status The following do not qualify as “Unusual Circumstances:” Parents refuse contribution to education Parents unwilling to provide information on the application or for verification Parents not claiming the student as a dependent for income tax purpose Student demonstrating total self-sufficiency

Special Circumstances If your student and family have unusual circumstances, please contact the financial aid office at the college you plan to attend. The financial aid office will advise you on how to proceed.

Major changes to FAFSA and Dream Act Application FAFSA & CA Dream Act applications: Language will be gender neutral- Parent 1, Parent 2 as designated by filers, not processors FAFSA & CA Dream Act applications now will collect the information of unmarried parents living together and parents or parent/step-parent in legally recognized same-sex marriage.

Whose Information Goes on the FAFSA/ Dream Act Application??

The FAFSA & Dream Act applications now use relationship of parent to student, VS. Legal relationship between parents for basis of collecting info. Relationship of student to parent Includes both parents’ incomes on the app? Only Includes one parents’ income on their app?? Parents married living together Yes No Parents not married, living together Parent is widowed, not married Parents are divorced or separated, not living together Yes ( Include the parent the student lived with most during the last 12 months. If equal time, include the income for the parent who provided most of the students’ financial support during the last 12 months) Parent and step-parent living together

Foster Parents * No Grandparents, brothers, sisters, uncles, or aunts * “ Parent” means biological/adoptive parent- gender of biological or adoptive parents is not relevant * Students living with legal guardians, foster parents, or relatives are usually considered to be independent students

Responses on the 2017-2018 FAFSA & Dream Act Applications 1. Never Married 2. Married or Remarried 3. Unmarried and both parents living together 4. Divorced or Separated 5. Widowed

Signing and Submitting the FAFSA FSAID (www.fsaid.ed.gov) Gives access to Federal Student Aid online systems Serves as legal signature Parents and students will need one to sign the FAFSA Can be complicated to set up, get it done early! IMPORTANT: Parents who are not legal residents must mail in the signature page when FAFSA is submitted and when corrections are made!

www.fsaid.ed.gov

Tax information & verification Terms of Agreement Provide documents to verify accuracy of information IRS verification Internal Revenue Service’s (IRS) Tax Data Retrieval Tool Not all families will have access to the IRS Data Retrieval tool and will have to provide additional documents to schools directly Typical documents requested: • Tax Transcript • Household worksheet • Proof of Citizenship and/or US Residency Status • The 2015 income information needed on the 2017-18 FAFSA will be transferred directly and securely from the IRS to the FAFSA.

Confirmation page includes: DRN Data transfer Eligibility Information University information The next steps

Note: Option is only offered on the confirmation page Allows students to transfer information from the FAFSA to a state application Note: Option is only offered on the confirmation page

SAR SAR report will be sent electronically from 3 to 5 days after submitting the FAFSA or CA Dream Act. The SAR (Student Aid Report) is a list of all answers on the FAFSA. With the SAR, corrections can be made to mistakes or as situations change (e.g. school change). For students applying to more than 10 colleges/universities (the max amount listed), wait until you receive a SAR and then resubmit with new schools. 

WebGrants 4 Students After submitting your FAFSA make sure to create an account at WebGrants for students, as it is part of the eligibility process for Cal-Grants. This is REQUIRED to receive a Cal-Grant. Starting this year, if eligible, students must “claim” their Cal-Grant on their WebGrants account https://mygrantinfo.csac.ca.gov/

https://mygrantinfo.csac.ca.gov/

Scholarships Scholarships = FREE MONEY!! Merit based scholarships (academic performance)‏ Need based scholarships (financial need). Scholarship funds come from: Colleges/Universities Foundations, Companies Individuals Community-Based Organizations Deadlines will vary depending on the scholarship.

Scholarships Involve a separate application process. Sobrato Common Application DUE September 30, 2016 Scholarships are usually released in Fall. Deadlines vary (from late fall to early spring). Personal Statement may be required. Letter of Recommendation (from teacher, academic counselor, mentor, supervisor, etc.) may be required. Transcripts may be requested. Finalists may be interviewed by panel.

AB540 –California State Law Benefits and Limitations Allows specific non resident student to pay in state fees at UCs, CSUs. and CCCs Saves students thousands of dollars in college cost each year AB540 does not make a student: Eligible for federal financial aid or A legal California resident

AB540-California State Law Eligibility A Student who: Attended at least three (3) years at any Public, Private, Home Schools or Combination of schools. OR Attainment of credits earned in California from a California high school equivalent to three or more years of full-time high school coursework and a total of three or more years of attendance in California elementary schools, California secondary schools, or a combination of those schools. Graduated or received its equivalent; and Files an affidavit with the college to apply for legal immigration status when possible

AB 131 Dream Act Signed into law September 2011 Online application will be open January 2014 Aid under CA Dream Act: UC Grants, State University Grants, BOG Fee Waiver, Chafee Grant, EOP/EOPS Cal- Grants Middle Class Scholarship Private scholarships administered by campuses

California Dream Act https://dream.csac.ca.gov/

Dream Act is NOT the same as DACA DACA does not prevent students from applying to CA Dream Act Financial Aid DACA does not confer a new legal status for students California Students who have applied for or received approval for DACA should complete CA Dream Act Application and NOT the FAFSA

CSS/Financial Aid PROFILE Online application for nonfederal financial aid Institutional aid Some private colleges/universities require the CSS PROFILE. Initial fee is $25 (one college/report) Additional reports are $16. PROFILE fee waivers available to eligible students –waiver will cover both the application and reporting fees for up to eight colleges.

https://student.collegeboard.org/css-financial-aid-profile

Important Deadlines October 1st: Begin applying for FAFSA March 2nd: Priority filing deadline to apply for Cal Grants. Come to Any of our Cash 4 College Events below! 10/17/2015 10/19/2016 10/20/2016 10/26/2016 10/12/2016 San Benito High School Christopher High School Gilroy High School Ann Sobrato High School Soledad High School 6:00 PM - 8:00 PM 1/23/2017 02/07/2017 2/9/2017 2/8/2017 02/16/2017 Gonzales High School Live Oak High School

QUESTIONS??