After the FAFSA ISFAA High School Guidance Counselor Workshop 2012

Agenda  Updates/Changes  FAFSA Completion Tool  The Student Aid Report (SAR)  IRS Data Retrieval - Corrections  Professional Judgment  Cost Comparison Worksheet  The Financial Aid Office

Updates and Changes Reference Eligibility of Students Without a High School Diploma – July 1, 2012 Federal Pell Grant Program – Duration of Eligibility Direct Student Loan Changes – Interest Rates and subsidies

FAFSA Completion Tool  Allows high schools to track the students who have completed/submitted a FAFSA  Information is reported by:  State  FAFSA’s submitted online  FAFSA’s completed (not yet submitted)  center/student/application-volume/fafsa-completion-high- school center/student/application-volume/fafsa-completion-high- school

SAR Student Aid Report Paper SAR Paper SAR Acknowledgement Notification of SAR Processing

Corrections Families submit the FAFSA with estimated tax information to comply with Indiana State Deadline of March 10 th. Use the IRS Data Retrieval Tool to update the income information on the FAFSA before May 15 th. Correct information that was reported incorrectly as of the date the FAFSA was originally completed.

IRS Data Retrieval

Professional Judgment When is professional judgment used? How does the process work? Who makes determination?

Cost Comparison Cost of Attendance Direct Costs Indirect Costs Federal Shopping Sheet

Cost of Attendance  Can Include:  Tuition  Standard Fees  Room and Board  Books and Supplies  Transportation  Personal Expenses Allows students to receive financial assistance for both the direct and indirect cost of attending an institution.

Direct Costs  “Standard” charges for students as a whole or a specific cohort of students (i.e. in-state vs. out-of-state, tuition by major, etc).  Charged directly to student account / documented on billing statement as charges owed to the school  Tuition, fees, on-campus room, board

Indirect Costs  Costs associated with attending the school which will vary from student to student.  May not be documented on billing statement as charge is not from school.  Books and supplies  Travel costs in getting from home to school, vice versa  Personal: laundry, health, entertainment, etc

Federal Shopping Sheet New for 2013/2014 academic year Result of Department of Education collaboration with students, parents, college counselors, and aid administrators. Schools are not mandated to use the form (at this time)

Building Relationships Tools and Checklist college/checklists/12th-grade

Questions