FAFSA/ISIR Training Free Application for Federal Student Aid Institutional Student Information Record

What Is FAFSA Free Application for Federal Student Aid (FAFSA) Developed and administered by the U.S. Department of Education All students are expected to contribute towards the cost of their college education How much depends on the students financial situation – referred to as Expected Family Contribution (EFC) Based on needs analysis Income Assets Household size Number in college

FAFSA Eligibility Nearly every student is eligible for some form of financial aid Must be U.S. citizen, U.S. national or eligible non-citizen Have a valid Social Security Number Have a high school diploma or GED Are registered with the U.S Selective Service (if male aged 18-25) Complete a FAFSA promising to use any federal aid for educational purposes Do not owe refunds on any federal student grants Are not in default on any student loans Have not been found guilty of the sale or possession of illegal drugs during a period in which federal aid was being received

Applying for Aid – FAFSA Is First Step To be consider for Federal financial aid – student must complete and submit FAFSA application Pell Grant Federal Supplemental Educational Opportunity Grant (FSEOG) Perkins Direct Subsidized Loan Direct Unsubsidized Loan Parent PLUS Loan Grad PLUS Loan Work-study

Applying for Aid – FAFSA Is First Step To be consider for State grants/scholarships – student must complete and submit FAFSA application College Access Program (CAP) Kentucky Tuition Grant (KTG) Go Higher Grant Kentucky National Guard Tuition Award Program Early Childhood Development Scholarship (ECDS) Coal County Scholarship for Pharmacy Students

Applying for Aid – FAFSA Is First Step Student can submit FAFSA Electronically at www.FAFSA.ed.gov

Applying for Aid – FAFSA Is First Step Paper FAFSA Student can order from the Federal Student Aid Information Center 800-4-FEDAID (800-433-3243) PDF available at the FAFSA on the Web Site Can print, complete by hand, and mail --or-- type data, print, and mail Financial Planning Department can order up to 50 copies at www.fsapubs.org

Applying for Aid – FAFSA Is First Step FAA Access to CPS Online Submit at https://faaaccess.ed.gov Student (and parent) must sign signature page or complete and sign FAFSA application Retain signed signature page/summary or signed FAFSA in student folder even if student decided not to attend FAFSA on the phone Student can call 800-433-3243 Typically takes an half an hour to complete Student will receive SAR in 7 to 10 days Student (and parent) must sign and return

Applying for Aid – FAFSA Is First Step The PIN Student must have a Personal Identification Number (PIN) Student can apply for a PIN at www.pin.ed.gov

Applying for Aid – FAFSA Is First Step PIN allows student to access and electronically sign a renewal FAFSA on the Web correct their FAFSA information online, including using the IRS Data Retrieval tool to populate tax-related fields view their SAR online and print it review their financial aid history as maintained in the National Student Loan Data System (NSLDS) Access Direct loan information and tools, including entrance counseling at www.studentloans.gov, exit counseling at www.nsldsed.gov, and the consolidation website at www.loanconsolidationed.gov electronically sign master promissory notes at www.studentloansgov and TEACH grant agreements to serve at www.teach-ats.ed.gov and complete the PLUS request process at www.studentloans.gov

Applying for Aid – FAFSA Is First Step CPS process FAFSA application Match student’s data against several agency databases NSLDS Department of Defense Department of Justice Social Security Administration Department of Homeland Security Selective Service System Department of Veteran Affairs’ CPS check for inconsistencies and mistakes

Applying for Aid – FAFSA Is First Step

Output Documents from FAFSA Institutional Student Information Record (ISIR) --and Student Aid Report (SAR)

What Is An ISIR ISIR – Institutional Student Information Record Generated once student complete Free Application for Federal Student Aid (FAFSA) Sent electronically to the school only if school listed on FAFSA Imported into System of Record, CampusVue Can request ISIR from DOE if you have student’s Data Release Number (DRN) Indicates any questionable results from the eligibility matches through comment codes and text Must be resolved prior to disbursing Title IV funds or State grants/scholarships Valid ISIR is required to determine student eligibility for Title IV funds as well as State grants/scholarships

ISIR - Example

What Is a SAR Student Aid Report (SAR) Paper or electronic document sent to the student by CPS Snapshot of FAFSA application student submitted Provides student with basic information regarding their eligibility for Federal student aid Expected Family Contribution (EFC) Data Release Number (DRN) If student may be eligible for Pell Grant C Code Required actions – corrections needed Student should review and make corrections via FAFSA on the Web (www.fafsa.gov) Provides Graduation/Retention/Transfer Rates for each school Provides Total Amount of Loans Outstanding

SAR Example

ISIR Cover Page Contains information related to a student. Demographic information Name Mailing address Eligibility determination information Transaction process date EFC Comment codes and text Central Processing System (CPS) adds comment codes and text to the student’s transaction to provide information to the student and to FAA about the student’s processed FAFSA Possible Pell eligibility C Code Verification selection Reject code Action required Transaction process code SAR comment codes and text for 2014/2015 http://www.ifap.ed.gov/sarcommcodestxt/attachments/1415SARCommCodetextOctober2014.pdf

Cover of ISIR – Example

Corrections Can be made by Student School CPS Change must be made to at least one data element Common changes Address Adding school code Transactions greater than 30 are REJECTED

Highlights and Assumptions CPS makes assumptions and does not reject the student’s record in some situations. Example: A student reports that he or she is married and provides spouse’s income, but reports only one person in the household. CPS most often makes assumptions when questions are left blank. ISIR displays an h (for highlight) next to the items on which assumptions were made.

Highlights and Assumptions CPS highlights and does reject the student’s record in some situations Example: An independent student answers that he or she is not married but provides financial information for a spouse. CPS does not calculate an EFC because key financial information is conflicting ISIR will indicate with reject code 11

Highlights and Assumptions Example: A student enters income taxes equal to or greater than the amount reported for adjusted gross income. CPS does not calculate an EFC because key financial information is conflicting ISIR will indicate with Reject Code 3 – Comment Code 114 Conflicting information must be resolved in order to generate EFC

Transactions A transaction is an interaction between the CPS and a financial aid applicant or a school that changes any of the data on a student’s record. Each transaction results in a new ISIR and SAR, and is identified by a two-digit transaction number Example: 01, 02, or 03

Transactions – ISIR

Transactions A transaction may be system-generated. Example: When a student’s eligibility for federal student aid changes on the NSLDS, the CPS automatically processes the application information and generates a new transaction without additional input from the student or from a school. These system-generated transactions are automatically sent (or pushed) to the destination point. CPS Pushed ISIR Flag Located under FAA – middle of 3rd page, right hand side

Dependency Status Results Located top right column of the second page of the ISIR

Transaction Data Source/Type Code The Transaction Data Source/Type code identifies a FAFSA processor or other source of the transaction. Can be located on page 3 upper right side under Office Information.

Source of Correction The Source of Correction Flag is a field that is set on each correction transaction and indicates the source of the correction. Can be located on page 3 upper right hand side.

Pell Eligible Flag Data is found in the Pell Elig Flag field on the ISIR. Can be located on page 3 bottom left hand side. A Y confirms that a student’s EFC and undergraduate status makes them eligible for a Pell Grant.

SAR C Code Flags If the SAR C Flag is set or removed from the transaction being corrected, the field will contain the value Y. Can be located on page 3 bottom right hand side.

Common C Code Flags SSN Citizenship Selective Service Default Overpayment Pell FSEOG Perkins Teach Grant Veteran status Bankruptcy Unusual Enrollment History (UEH) Note: In rare cases, the C-Flag is provided on an ISIR/SAR without a corresponding comment. This would happen only if the applicant receives an excessive number of comments (including C-Flag comments) and some of the comments must be suppressed so that a SAR/ISIR can be generated.

How To Identify A C Code

How To Identify A C Code

Snapshot The FAFSA is intended to be a snapshot of the student and parent’s situation “as of the date” he or she completed the application. Students and parents should not change their answers to these questions unless the data originally submitted was incorrect as of the date the application was submitted.

Reference The ISIR Guide, October 2011. U.S. Department of Education. Federal Student Aid. https://www.fsadownload.ed.gov/Repository/ISIRGuide1213Oct/2012- 2013ISIRGuide.pdf