1. Financial Aid Info Night Presented by:

2. ●Money that the federal or state government gives or loans students. ●FAFSA=Free Application for Federal Student Aid ●FAFSA Website: www.fafsa.ed.gov What is Financial Aid?

3. Determining A Family’s Need ● Cost of Attendance (COA) ● COA-EFC=NEED ● Note: Two kids in college is a great thing Theory: Your EFC is consistent Reality: Your EFC may be higher

4. Additional Forms CSS/Profile ● College Scholarship Service/Profile ● Available at: www.collegeboard.comwww.collegeboard.com ● Major differences: ● Home Equity ● Divorced/Separated parents ● Family Business School-Specific Form

6. ❑ Cal-Grants ❑ Pell Grants ❑ University Grants ❑ Loans ❑ Work Study By completing a FAFSA, you will apply for:

7. ❑ U.S. citizen or Permanent Resident ❑ Have a Social Security Number ❑ High school diploma, GED, or equivalent. ❑ Demonstrate financial need ❑ Register with Selective Service (males only). ❑ Enroll in an eligible degree or certificate program. ❑ Good academic progress. Student Eligibility for Federal Student Aid:

8. ❑ Grants=Free Money ◦ Cal Grant A ◦ Cal Grant B ◦ Cal Grant C ❑ Loans=Borrowed Money ◦ Subsidized Loan ◦ Unsubsidized Loans ❑ Work Study =Work for your money ❑ Scholarships=Free Money Types of Financial Aid

9. ProgramWho can applyAnnual awards up to..Application deadlineForms requiredEligibility requirements Cal Grant AundergraduatesCSU: $5,472 UC: $12,240 March 2Verified GPA3.0 High school GPA Cal Grant Bundergraduates$1,656 (first yr) Fees/Tuition plus 1,473 in 2 nd, 3 rd, 4 th year March 2Verified GPA2.0 high school GPA, financial need Cal Grant CTechnical and career students $547 for books $2,462 tuition for non- CCC March 2Verified GPAFinancial need Federal Pell Grantundergraduates$5,730March 2Fafsa.ed.govFinancial need (EFC and COA) FSEOGundergraduates$4,000March 2Fafsa.ed.govFinancial need (EFC and COA)not all colleges offer it University of California Student Aid UC undergraduates/Graduate $14,000March 2Fafsa.ed.govFinancial need State University GrantUndergraduates/graduatesFull system- wide feesMarch 2Fafsa.ed.govFinancial need Iraq and Afghanistan Service Grant For students whose parent or guardian was in U.S. armed forces and died as a result of performing military service in Iraq or Afghanistan after the events of 9/11 Must not qualify for Pell Grant Must be under 24 Up to $5311.71March 2Fafsa.ed.govFinancial need Special family circumstances Major Financial Aid Programs

10. Cal Grant Income and Asset Ceilings

11. ● On July 1, 2013 Governor Jerry Brown signed a historic legislation aimed at making higher education more affordable. Starting in the 2014-15 academic year, the Middle Class Scholarship (MCS) program would apply to undergraduate students with family incomes up to $150,000 and who attend a University of California or California State University campus. Middle Class Scholarship

12. ● Who qualifies for the Middle Class Scholarship? New, transfer and returning undergraduate students to California State University or University of California with a family income of up to $150,000 may be eligible for the Middle Class Scholarship. ● What are the requirements to receive a MCS? You must be a U.S. citizen, permanent resident, or have AB 540 status; not be incarcerated; not be in default on a student loan; be a California resident; maintain a 2.0 GPA; meet certain income and other financial aid standards; and attend a California State University or University of California campus

13. ❑ Eligible students can earn part of their financial aid through working on or off campus. ❑ 15-20 hrs per week ❑ Obtain experience working in a career- related or community service employment. Federal Work Study

14. ● Must have financial need. ● 4.29% fixed interest rate (for 2015) for undergraduate students. ● The federal government pays the interest while student is in school: ◦ Must be enrolled half time or more ◦ Grace period of 6 six months after graduation, withdrawal, or enrolled in less than half time. Subsidized Stafford loans

15. ❑ For eligible students, regardless of their financial resources. ❑ The student is responsible for paying the 4.29% (fixed) interest that accrues at the time loan is processed. ❑ It’s to student’s advantage to pay the interest while attending school in order to avoid loan debt increase. Unsubsidized Stafford loans

16. ❑ Loan borrowed by parents to help pay for students college costs. ❑ Interest rate is fixed at 6.84% depending on the loan program and college/university student attends. ❑ Amount borrowed depends on credit eligibility and college costs. ❑ Can borrow the total amount of undergrad study minus any aid received. Federal Parent PLUS Loans

17. ❑ Loan to be considered if grants and Federal student loans do not cover all college costs. ❑ Loan amount and interest rate are based on credit eligibility of student and/or parents. ❑ Interest rate is higher than federal student loans. Private Loans

18. When Completing the FAFSA…

19. ❑ Student Demographics: Name MUST match the Social Security Card. ❑ School Selection: Students who applied to CSU’s, UC’s and Private schools should include top school for each system. ❑ Emancipated Minors: select yes ONLY if the student can provide a copy of a court’s decision that as of today, he/she is an emancipated minor Important things to know:

20. ● Foster Care: Select yes if at any time since the student turned 13, he/she was in foster care even if the student is no longer in foster care today due to: 1. Adoption (even for a day) 2. Reunification 3. Reached the age of majority (18yrs) ● Note: Documentation may be required Foster Care

21. Select yes if any time after July 1,2015, the student meets all three criteria ❑ Lacking fixed, regular and adequate housing. Includes living in shelters, motels, cars, or temporarily living with other people because you had nowhere else to go. ❑ “Unaccompanied”: Not in the physical custody of a parent or guardian. ❑ “Youth” Under 21 years of age Homeless, Unaccompanied Youth:

22. The Financial Aid Office has authority to make a dependent student independent if unusual circumstances exist: ❑ An abusive family environment ❑ Abandonment by parents ❑ Inability to locate parents Professional Judgment and Dependency Status

23. The following do not qualify as “Unusual Circumstances:” ❑ Parents refuse contribution to education ❑ Parents unwilling to provide information on the application or for verification ❑ Parents not claiming the student as a dependent for income tax purpose ❑ Student demonstrating total self-sufficiency Professional Judgment and Dependency Status

24. ❑ If your student and family have unusual circumstances, please contact the financial aid office at the college you plan to attend. ❑ The financial aid office will advise you on how to proceed. Special Circumstances

25. ● FAFSA & CA Dream Act applications: Language will be gender neutral- Parent 1, Parent 2 as designated by filers, not processors Major changes to FAFSA and Dream Act Application ● FAFSA & CA Dream Act applications now will collect the information of unmarried parents living together and parents or parent/step-parent in legally recognized same-sex marriage.

26. Whose Information Goes on the FAFSA/ Dream Act Application??

27. Relationship of student to parent Includes both parents’ incomes on the app? Only Includes one parents’ income on their app?? Parents married living together YesNo Parents not married, living together YesNo Parent is widowed, not married NoYes Parents are divorced or separated, not living together NoYes ( Include the parent the student lived with most during the last 12 months. If equal time, include the income for the parent who provided most of the students’ financial support during the last 12 months) Parent and step-parent living together YesNo The FAFSA & Dream Act applications now use relationship of parent to student, VS. Legal relationship between parents for basis of collecting info.

28. Foster Parents *No Grandparents, brothers, sisters, uncles, or aunts * No “ Parent” means biological/adoptive parent- gender of biological or adoptive parents is not relevant * Students living with legal guardians, foster parents, or relatives are usually considered to be independent students

29. ● 1. Never Married ● 2. Married or Remarried ● 3. Unmarried and both parents living together ● 4. Divorced or Separated ● 5. Widowed Responses on the 2016-2017 FAFSA & Dream Act Applications

30. ❑ FSAID and Signature ❑ Terms of Agreement ◦ Provide documents to verify accuracy of information ◦ IRS verification IMPORTANT: Parents who are not legal residents must mail in the signature page when FAFSA is submitted and when corrections are made! Signing and Submitting the FAFSA

31. 31 Allows students to transfer information from the FAFSA to a state application Note: Option is only offered on the confirmation page

32. After submitting your FAFSA make sure to create an account at Webgrants for students, as it is part of the eligibility process for Cal-Grants. https://mygrantinfo.csac.ca.gov/ WebGrants 4 Students

34. ❑ Scholarships = FREE MONEY!! ❑ Merit based scholarships (academic performance)‏ ❑ Need based scholarships (financial need). ❑ Scholarship funds come from: Colleges/Universities Foundations, Companies Individuals Community-Based Organizations Deadlines will vary depending on the scholarship. Scholarships

35. ❑ Involve a separate application process. ❑ Scholarships are usually released in Fall. ❑ Deadlines vary (from late fall to early spring). ❑ Personal Statement may be required. ❑ Letter of Recommendation (from teacher, academic counselor, mentor, supervisor, etc.) may be required. ❑ Transcripts may be requested. ❑ Finalists may be interviewed by panel. Scholarships

36. ● Allows specific non resident student to pay in state fees at UCs, CSUs. and CCCs ● Saves students thousands of dollars in college cost each year ● AB540 does not make a student: ◦ Eligible for federal financial aid or ◦ A legal California resident AB540 –California State Law Benefits and Limitations

37. ● A Student who: ❑ Attended at least three (3) years at any Public, Private, Home Schools or Combination of schools. ❑ OR Attainment of credits earned in California from a California high school equivalent to three or more years of full-time high school coursework and a total of three or more years of attendance in California elementary schools, California secondary schools, or a combination of those schools. ❑ Graduated or received its equivalent; and ❑ Files an affidavit with the college to apply for legal immigration status when possible AB540-California State Law Eligibility

38. ❑ Signed into law September 2011 ❑ Online application will be open January 2014 Aid under CA Dream Act: 1. UC Grants, State University Grants, BOG Fee Waiver, Chafee Grant, EOP/EOPS 2. Cal- Grants 3. Middle Class Scholarship 4. Private scholarships administered by campuses AB 131 Dream Act

39. ● DACA does not prevent students from applying to CA Dream Act Financial Aid ● DACA does not confer a new legal status for students ● California Students who have applied for or received approval for DACA should complete CA Dream Act Application and NOT the FAFSA Dream Act is NOT the same as DACA

40. Financial Award Letter ● Merit scholarships from colleges themselves ● Cal Grant (state/federal grant) ● FAO can award more money to academically appealing students ● Preferential packaging ● Outside scholarships ● Loans ● REMEMBER: Your EFC and Cost of Attendance

41. How to Pick Colleges with Financial Aid in Mind ● Find your EFC for each school ➢ Net Price Calculator (Not a promise) ● Honest discussion with your student ● Be strategic as you create your college list ● You apply again (as long as the student is in school) ● Keep up with GPA (if conditions apply) Next Year

42. ❑ January 1 st : Begin applying for FAFSA ❑ January 14 th : San Benito Cash for College ❑ January 20 nd : Gilroy High School Cash for College ❑ January 21 st : Christopher High School Cash for College ❑ January 27 th : Ann Sobrato School Cash for College ❑ March 2 nd : Priority filing deadline to apply for Cal Grants. Important Deadlines

43. Receive individual assistance completing your FAFSA! [INSERT YOUR SITE INFO HERE] ❑ When: Wednesday, February 5th ❑ Where: Gilroy High School In the library (overflow to College & Career Center) ❑ Time: 6 – 8 pm CASH FOR COLLEGE

44. QUESTIONS??