FINANCIAL AID CLASS OF 2014 BOLSA GRANDE HIGH SCHOOL

TOPICS WE WILL DISCUSS  What is financial aid  Expected Family Contribution (EFC)  What is financial need  Types and sources of financial aid  Free Application for Federal Student Aid (FAFSA)  Special circumstances  AB 540

WHAT IS FINANCIAL AID  Financial aid is MONEY provided to students and families to help pay for postsecondary educational expenses

WHAT IS THE EXPECTED FAMILY CONTRIBUTION (EFC)  Amount family can reasonably be expected to contribute  Stays the same regardless of college  Two components  Parent contribution  Student contribution

WHAT IS FINANCIAL NEED Cost of Attendance – Expected Family Contribution ________________________________ = Financial Need

TYPES OF FINANCIAL AID  GRANTS- Free money given to students based on the family’s financial need.  SCHOLARSHIPS- Free Money given to students, Awarded on the basis of merit, skill, or unique characteristic.  WORK STUDY- Program in which students can work, study, and get paid.  LOANS- Borrowed money to help cover the cost of a college/university education.

SOURCES OF FINANCIAL AID  Federal government  States  Private sources  Civic organizations and churches  Employers

CAL GRANTS  2 Steps to Apply for Cal Grants- before Complete Cal Grant GPA Information Form and return to your English teacher. 2. Complete FAFSA by March 02, 2014  Cal Grant A: minimum 3.0 GPA  CSU- $5,472/yr.  UC- $12,192/yr.  Private- $8,056/yr.  Cal Grant B: minimum 2.0 (1 st yr. receive $1,473)  Community College- $1,473  CSU- $1,473 + $5,472/yr.  UC- $1,473 + $12,192/yr.  Private- $1,473 + $8,056/yr.  Cal Grant C: no minimum GPA  For vocational or technical programs resulting in a certificate or AA program.  Community College- $547  Other Non-Community College Schools- $547 + $2,462

FAFSA  A standard form that collects demographic and financial information about the student and family  Complete the FAFSA on the web at: after January 1, 2014www.fafsa.gov  FAFSA deadline is March 2, 2014

FAFSA  Information used to calculate the Expected Family Contribution or EFC  Colleges use EFC to award financial aid  Must be a US citizen or Permanent Resident  Colleges may set FAFSA filing deadlines

FAFSA ON THE WEB –15 FAFSA on the Web available on January 1, 2014 FAFSA on the Web Worksheet: Posted on bolsagrande.org, under financial aid Used as “pre-application” worksheet Questions follow order of FAFSA on the Web

FEDERAL STUDENT AID PERSONAL IDENTIFICATION NUMBER (FSA PIN)  Website:  Sign FAFSA electronically  May be used by students and parents throughout aid process, including subsequent school years

FAFSA On The Web Worksheet Section 1: General student info. Section 2: Student’s dependency status Section 3:Information about parents: tax, income, and assets Section 4: Information about the student: Tax, income, and assets

SIGNATURES  Required  Student  One parent  Format  Electronic using PIN  Signature page

FAFSA PROCESSING RESULTS  Students that do not include an e- mail address on the FAFSA will receive a paper SAR in the mail.  Students that do provide an on the FAFSA will receive an notification containing a direct link to student’s electronic SAR  Student with PIN may view SAR on-line at

FAFSA PROCESSING RESULTS  Institutional Student Information Record (ISIR) sent to colleges listed on FAFSA approximately 10 to 14 days after FAFSA submitted  College reviews ISIR  May request additional documentation, such as copies of federal tax returns

Student Aid Report (SAR)  The SAR is a report from the federal processor summarizing the information you provided on the FAFSA  Receive within 72 hours if you submitted the FAFSA online (up to 2 weeks for paper)  Review right away for accuracy  Lists your EFC for the school year  Located at the top of your SAR  No dollar sign next to it (e.g., 02500) 17

Sample SAR  Includes a link to your individual SAR  See example on page 13 18

Sample SAR 19

STUDENT AID REPORT (SAR)  Review data for accuracy  Update estimated information when actual figures are available

California Aid Report (CAR)  If you’re offered a Cal Grant, you’ll receive an from the California Student Aid Commission called a CAR  You must list a valid address on your FAFSA so you can receive a CAR  The CAR lists the tentative Cal Grant award amount  If you did not get a Cal Grant, you’ll receive notification explaining why  See sample CAR on page 13 21

MAKING CORRECTIONS If necessary, corrections to FAFSA data may be made by:  Using FAFSA on the Web ( if student has a PIN;  Updating paper SAR (SAR Information Acknowledgement cannot be used to make corrections); or  Submitting documentation to college’s financial aid office

SPECIAL CIRCUMSTANCES  Cannot report on FAFSA  Send written explanation to financial aid office at each college

SPECIAL CIRCUMSTANCES  Change in employment status  Medical expenses not covered by insurance  Change in parent marital status  Unusual dependent care expenses  Student cannot obtain parent information

AB 540  Allows undocumented students to pay in-state tuition fees at California’s colleges and universities.  Requirements for AB Attend a California High School for 3 or more years 2. Graduate from a California high school 3. Register at an accredited public institution of higher education in California 4. If applicable, complete an affidavit to legalize immigration status as soon as a student is eligible

AB 540 – Undocumented students  Undocumented students should complete the California Dream Act Application at:  Students/families can  Additional resources available at:  and

California Dream Act of 2011 (AB 130)  Undocumented/underdocumented students may also qualify for:  Institutional scholarships  Privately funded scholarships  Must meet qualifications for AB 540 in-state tuition rates  Check with your college admissions office More information on pages 9 & 22 27

California Dream Act of 2011 (AB 131)  Signed into law October 8, 2011  Undocumented or other nonresident students may also qualify for  Cal Grants and other applicable state aid  The Board of Governors (BOG) Fee Waiver Program  Institutional aid  Students begin applying for Cal Grants in January 2014 Check with your college financial aid office for more information about the BOG Fee Waiver (at community colleges only) and institutional aid timelines and processes 28

AB 540 Fees Determiners  ************************ Schools  In-StateOut-of-state California Community Colleges $ 46 per unit plus$16 Health Fee $ 226 per unit California State University System (CSU) $ 6,128 per year$ 17,288 per year University of California System (UC) $ 10,152 per year$ 33,030 per year

Free help with the FAFSA  Attend Financial Aid Overview Wednesday, January 15 (6-7 pm)  Attend Financial Aid Line by Line Workshop Wednesday, February 5 (6-7:30 pm)  Attend after school workshops Room 306  Call:  WebGrants for students: 30

Free help with the FAFSA  CASH FOR COLLEGE  January 16, 2014 (5:30-9pm)  Garden Grove High School Stanford Ave. Garden Grove, CA  Counselors will be available to help with FAFSA line by line and Dream Act application

QUESTIONS?