THE FAFSA

FAFSA.GOV

STUDENT AND PARENTS WILL NEED PIN numbers Social Security Number 2013 Federal Income Tax Return* Bank Statements Other Income Statements * 2012 tax information if you haven’t completed your 2013 tax return

WHAT IF I HAVEN’T FILED MY TAXES YET? You can file based on estimates from last year’s (2012) taxes* * You will want to go back and update this after you file your 2013 taxes.

TIPS Apply Early! If your parents are divorced or separated the parent whom you lived with most during the past 12 months should complete the FAFSA. Enter your name EXACTLY as it appears on your Social Security Card. Double check all Social Security Numbers, Alien Registration Numbers and Dates of Birth Look for alerts and messages

DEPENDENCY STATUS You are an independent student if you meet any of the following criteria: Born before January 1, 1991 Married Graduate student Have children you support more than 50% Military active duty or veteran Homeless, orphan, or ward of the court Legal guardianship or emancipated minors

If your parents are married, you will include both of your parents’ information on the FAFSA If your parents are divorced or separated, the parent whom you lived with the most in the past 12 months should be on the FAFSA If this parent is remarried, you must also include your stepparent’s information If your parents are unmarried, but live together, you must include information for both parents PARENT INFORMATION

Include: Your parents on the FAFSA (stepparents included) Yourself Your parents’ other children (if your parents provide more than 50 percent of their support) Other people (only if they live with and are supported by your parents more than 50 percent) HOUSEHOLD SIZE

1.Answer the questions to determine if you are eligible to use the tool. 2.If it is determined that you can use the tool, you will leave FAFSA on the web. 3.Enter your PIN 4.Enter information into IRS website exactly how it is on your tax return 5.Transfer NOW TIPS: Many fields will be populated Do not alter data marked “transferred from the IRS” The IRS DRT is available about 2 weeks after you file electronically You can file based on estimates and use the IRS DRT later USING THE IRS DATA RETRIEVAL TOOL

1.Student enter the PIN 2.Agree to “Terms of Agreement” 3.Parent identify relationship to student 4.Parent enter the PIN 5.Review “FAFSA SUMMARY” 6.Click “submit FAFSA now” SIGN THE FAFSA

Review your Student Aid Report (SAR) Check your ‘To Do’ List (from any university that you apply to) WHAT’S NEXT? PART ONE

Award Notification (from any university that you apply to) This is when you are notified of the awards you will be receiving from the institution Late March/early April WHAT’S NEXT? PART TWO

As incoming freshmen, you will be offered a maximum of $5,500 in student loans. Subsidized Loans – the federal government will pay the interest while you are in school Unsubsidized Loans – the borrower (you) are responsible for paying the interest that accrues at any point in time. Parent Loans – loans made to parents of undergraduate students. LOANS – PART 1

Gotta pay back your loans – studentaid.ed.gov.repay-loans Repayment Estimator: finaid.org.calculators.loanpayments.phtml You borrow $23,000 over a four year term and 6.8% interest rate, your monthly bill is estimated to by $265 for 10 years. You borrow $100,000 over a four year term and 6.8% interest rate, your monthly bill is estimated to by $1,151 for 10 years. Repayment plans can be adjusted back on graduation status, extended payment plan (>10 years), or based on your income. LOANS – PART 2

Federal Work-Study provides part-time jobs for students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study. It provides part-time employment while you are enrolled in school. It’s available to students with financial need. It’s available to full-time or part-time students. It’s administered by schools participating in the Federal Work- Study Program. Check with your school's financial aid office to find out if your school participates. WORK-STUDY

Kansas resident graduating from high school in 2014 and entering KU fall 2014 Have a 3.25 high school GPA on a 4.0 scale Have at least a 22 ACT/1020 SAT (verbal & math) Be eligible to receive a Federal Pell Grant Be responsible for paying tuition and fees Enroll in a minimum of 12 KU hours each semester PELL ADVANTAGE

WHAT ARE SPECIAL CIRCUMSTANCES? The information provided on the FAFSA no longer reflects your family’s financial situation.

FINANCIAL AID TV

CONTACT FAS KU Visitor Center affordability.ku.edu