Student Financial Aid Applying for Financial Aid Presented by the Texas Association of Developing Colleges East Texas Educational Opportunity Center A Federal TRIO Program funded by the US Department of Education

How Will You Pay for College?

What is Financial Aid? Money/Resources to pay for college o Grants and Scholarships o Work Study employment – work for a paycheck o Loans – repay with interest o Tax Credits and Deductions

Need based –Pell Grant –Supplemental Educational Opportunity Grant (SEOG) –Academic Competiveness Grant (ACG) –Science/Math Access to Retain Talent Grant (SMART) –Work Study –Subsidized Direct Loan –Perkins Loan Non-need based –Unsubsidized Direct Loan/Parent Loan Federal Financial Aid Programs

Towards Excellence, Access and Success (TEXAS Grant) Texas Educational Opportunity Grant (TEOG) Texas Public Education Grant (TPEG) Texas Equalization Grant (TEG) Texas Work Study State Tuition Waivers/Exemptions Various State Scholarships Texas B-on-Time Loan College Access Loan (CAL) Health Education Loan Program (HELP) State Financial Aid Programs

2007 – 2008 Financial Aid Distribution Undergraduate Students (Latest Data Available) Source: Institute of Education Sciences US Department of Education – NCES 2009

Scholarships Financial Need Artistic Talents Academic Excellence Demographic Indicators Athletic Talents Community Service

Scholarship Scams Victims of scholarship scams lose more than $100 million annually Paying money to get money is generally a scam Duplicates what you can find out for free Beware of: –Scholarships with application fee –Scholarship services who guarantee success –Sales pitches disguised as financial aid “seminars” Website:

Start Scholarship Search Early High School Counselor

Cost of Attendance Tuition and fees Room and board Books, supplies, equipment, transportation, and miscellaneous personal expenses

Expected Family Contribution Parent’s contribution from income/ assets Student’s contribution from income/assets Expected Family Contribution (EFC)

Comparing Need X Y Z Cost of Expected Family Need Attendance Contribution (Variable ) (V ariable ) ( Constant ) EFC

FAFSA on the Web (FOTW) FREE Application for Federal Student Aid (FAFSA)

To Complete the 2012 – 2013 FAFSA  Social Security Number  Driver’s License Number  Selective Service Registration  Date of Parents’ Marriage, Remarriage, Separation, Di-vorce, Widow Status, if applicable  Date of Birth/Social Security Number for Parents, if applicable  Number in Parents’ Household, if applicable  2011 Tax Form (1040, 1040A or 1040 EZ) along with W-2s and Schedules for both Student and Parents  Records of Child Support, Veterans Benefits, Workers Comp, etc. received or paid in 2011  Value of stocks, bonds, CDs, real estate, businesses, etc.  Cash on hand and in Checking and Saving accounts.

Name/Address/SSN/DOB

Citizenship/Marital Status/Residency/Gender/Selective Service

First Generation and High School Graduation Status

High School/College Enrollment Information

Student’s Income and Tax Information

Student’s Asset Information Dependent students will not report INVESTMENT amounts on line #41 but will add their INVESTMENTS with parents’ INVESTMENTS on line #89

Student’s Income Reduction Information

Student’s Additional Income Information

Questions to Determine Student’s Dependency Status

PARENTS are birth or adoptive mother and father/ stepmother and stepfather, if applicable. Grand- parents, siblings, guardians, other relatives or friends cannot be reported in this section.

More about “Parents” in Completing the FAFSA 58-59

Parent’s Household Information

Parent’s Tax Status and “Dislocated Worker” Status

Parent’s Income and Asset Information Dependent students will not report INVESTMENT amounts on line #41 but will add their INVESTMENTS with parents’ INVESTMENTS on line #89

Parent’s Income Reduction Information

Parent’s Additional Income Information

This section is for INDEPENDENT STUDENTS only! (When Parent Information Is Not Required on FAFSA)

List of Colleges to Receive FAFSA Information (Up to 10 Colleges Can Be Listed Online) LIST SCHOOLS IN ORDER OF PREFERENCE

WHAT’S NEXT?  You will receive a SAR (Student Aid Report)—either postal or electronic delivery.  The Financial Aid Office of the college(s) you listed will receive an Electronic SAR (ISIR).  If required to verify the information you reported on the FAFSA (the process is called “VERIFICATION”), you will be asked to forward copies of signed Tax Returns, printouts of Child Support, Workers Comp, Veterans Benefits, etc. to show that the FAFSA was properly completed.  The Financial Aid Office will provide an “Award Letter” either by mail or through their on-line services to specify the source(s) and the amount(s) of financial aid you will receive. BE SURE TO RESPOND QUICKLY TO REQUESTS FOR ADDITIONAL INFORMATION OR FORMS COMPLETION.

KNOW HOW TO ACCESS INFORMATION Once you’re accepted for admission, you’ll receive information about accessing student information. This allows you to: Check your admission status for missing documentation Sign up for Testing/Orientation, if applicable Check your financial aid status for missing documentation Accept or Decline your Financial Aid Offers

CONTACT OUR OFFICE 2009-C South Mobberly ( Located between Manly’s Furniture Store & Tex-Mex Restaurant and across the street from LeTourneau University) Longview, Texas Phone: Fax: