Funding Your Future Financial Aid Overview

Topics Introduction What is financial aid? Sources of financial aid Limitations of federal aid programs FAFSA/Dream Act Application & Processing Whose info goes on a FAFSA/CA Dream Act Application? Eligibility requirements for Federal and State aid When & Where to apply for ? What happens next? Where do I get help? Other information Consumer Information

What is financial aid? Financial aid are funds provided to students and families to help pay for postsecondary educational expenses

Sources of Financial Aid Federal and State Grants Student Loans Work Study Private sources-scholarships

SLO County High School Graduates All future Promise students will be guaranteed fee-free fall & spring Deadline- August 3rd, 2015 Guaranteed to all students who complete ALL Cuesta Promise steps regardless of income or GPA

­­­ 1. Submit your Cuesta College admissions application 2. Submit your Promise scholarship application 3. Apply for FAFSA or the Dream Act 4. Complete the Cuesta College assessment process 5. Complete the Cuesta College online orientation 6. Register for your classes The Promise is yours! Check your for announcements and updates. STEPS

Common Federal Programs Federal Loans -Subsidized -Unsubsidized PLUS- Parent Loan Pell Grant Federal Supplemental Opportunity Grant Federal Work Study Teach Grant

Limitations of Federal Aid Programs Pell Grant – 6 full-time years Direct Subsidized Loans - 150% of the length of academic program before they may lose interest subsidy

Common CA State Programs Board of Governors Fee Waiver Cal-Grants Chafee Grant University Grants Middle Class Scholarship for UC & CSU AB 540 BOGW & Cal Grants

Board of Governors Fee Waiver Waives enrollment fees at California Community Colleges You must complete online FAFSA or Cal Dream Act

Cal-Grants Cal Grant A – Pays tuition at a CSU or UC Cal Grant B - Pays tuition at a CSU or UC and pays an access fee at a California Community College Cal Grant C – Pays for vocational programs

Chafee Available for foster-youth in the Independent Living Program (ILP) Must complete an online application Limited funds

University Grants Available at private and public universities Funds may be limited Follow-up with your school of choice

Middle Class Scholarship Program New, transfer and returning undergraduate students University of California or California State University Family income of up to $150,000 Complete the FAFSA or Cal Dream Act application

California State Programs Residency requirements Aid awarded on the basis of both GPA and financial need Must complete the FAFSA or Cal Dream Act application Deadline March 2 nd each year

AB540 Allows non-resident students to receive state grant opportunities Must complete application at college/university Admissions Office determines eligibility Student is able to complete the FAFSA or Cal Dream Act application

Scholarships Awarded on the basis of skills, GPA or unique characteristic Free money Foundations, high schools, businesses, charitable organizations, employers, unions Deadlines vary

Application & Processing © 2014 CASFAA

Why use a PIN? Sign FAFSA electronically Access your FSA records online Make corrections Who can apply? Students Parents Application Processing  Personal Identification Number (PIN) Access the PIN Website © 2014 CASFAA

FSA ID to Replace FSA PIN! What this means:Where to use an FSA ID: New login process User-selected username User-selected password Replaces the FSA PIN Eliminates need to supply SSN and date of birth for login Available in Spring 2015 (after March 2 nd ) FAFSA on the Web NSLDS Student Access StudentLoans.gov StudentAid.gov TEACH Grant website © 2014 CASFAA

Cal Dream Act Application

Cal Dream Act Application Only for AB540 students who do not have a SSN Students complete this instead of the FAFSA

DOMA and FAFSA/CA Dream Act applications FAFSA & CA Dream Act applications: Language is gender neutral – Parent 1, Parent 2 as designated by filers, not processor. FAFSA/CA Dream Act applications now collect the information of unmarried parents living together and parents or parent/step-parent in a legally recognized same-sex marriage. © 2014 CASFAA

Whose info goes on a FAFSA/ CA Dream Act application? The FAFSA & CA Dream Act applications now use the relationship of the parent to the student, vs. the legal relationship between parents for the basis of collecting information Relationship of Student to ParentIncludes both parents’ incomes on the app? Only includes one parent’s income on the app? Parents married, living togetherYESNO Parents not married, living togetherYESNO Parent is widowed, not remarriedNOYES Parents are divorced or separated, not living togetherNOYES (include the parent the student lived with most during the last 12 months. If equal time, include the income and assets from the custodial parent who provided most of the student’s financial support during the last 12 months) Parent and step-parent, living togetherYESNO Legal guardians * NO Foster Parents * NO Grandparents, brothers, sisters, uncles, or aunts * NO “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, unless adopted. © 2014 CASFAA

Eligibility Requirements for Federal and State Aid Be a U.S. citizen or eligible non-citizen ***Have a valid social security number*** Register with Selective Service High school diploma/GED/home schooled Enrolled in an eligible degree or certificate program

When & Where to apply for ? Complete the FAFSA online at or Cal Dream Act Application online at Applications are available starting January 1 st Colleges may set their own deadlines

Frequent Application Delays Transposed Social Security Numbers Marital status Income information Taxes paid Household size Number in college Asset information missing Missing student/parent signatures

What happens next? Student will receive a Student Aid Report (SAR); make corrections Student will have an Expected Family Contribution (EFC) School may require student/parent to submit additional documentation

Need Varies Based on Cost

How can I help as a parent? Complete income taxes early Use the IRS Data Retrieval Tool Request IRS Transcripts Online: Transcript Type: Return Transcript Phone number: Have your son/daughter follow-up with the financial aid office!

Where can I get help? Cash for College Workshop: February 10 th Cuesta SLO Campus (from 5pm to 8pm at Bldg. 3400) FAFSA, Cal Dream Act, Cuesta Scholarship Application

Special Circumstances Change in employment status Medical expenses Unusual dependent care expenses Loss of parent or student income Any other unusual circumstances that affect a family’s ability to contribute to higher education

Electronic Payments Students have options to receive financial aid disbursements or tuition refunds: Receive disbursement on a debit card Direct deposit into a personal bank account Request a paper check

Consumer Information College Navigator College Scorecard Shopping Sheet Your student portal StudentAid.gov FSA Social Media Net Price Calculator or.html © 2014 CASFAA

College Navigator Tool CollegeNavigator.gov © 2014 CASFAA

College Scorecard collegecost.ed.gov © 2014 CASFAA

Shopping Sheet Standardized, clear, and concise format for personalized financial aid offers Better understanding of the costs of college before making a final decision on where to enroll Identifies the types and amounts of aid qualified for and allows for easy comparison of aid packages Consumer comparison tool Transparently provides information to students © 2014 CASFAA

StudentAid.gov © 2014 CASFAA

Twitter.com/FAFSA © 2014 CASFAA

Facebook © 2014 CASFAA

Net Price Calculator © 2014 CASFAA

Questions? Cuesta College