1. 1 Applying for Financial Aid 2011-2012

2. 2 Sponsors/Partners: Presenter:

3. 3 Types of Financial Aid Gift Aid - Grants or scholarships that do not need to be repaid Work - Money earned by the student as payment for a job on or off campus Loans - Borrowed money to be paid back, usually with interest

4. 4 Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers Sources of Financial Aid

5. 5 Types of Applications  FAFSA  CSS/Financial Aid PROFILE  Institutional financial aid application Deadlines and requirements vary by institution

6. 6 FAFSA on the Web Internet application used by students and parents to complete electronic FAFSA at www.fafsa.gov Sophisticated on-line edits and skip logic so that errors are less likely to be made On-line help is available for each question Student and at least one custodial parent should get a federal PIN at www.pin.ed.gov

7. 7 FAFSA on the Web Password  Before starting the on-line FAFSA you will be asked to create a password  This allows you to save your application and return to it at a later time

8. 8 Federal PIN PIN (Personal Identification Number) serves as the electronic signature on ED documents Both student and at least one custodial parent need PIN to sign the FAFSA electronically May be used to: Correct/Update FAFSA Add additional schools to receive FAFSA data Needed each year the student completes the FAFSA Apply for student and parent PINs at www.pin.ed.gov

9. 9 FAFSA on the Web Worksheet  Used to collect information for the on- line application  Does not include all questions from the FAFSA  Do not mail this worksheet

10. 10 The FAFSA on the Web Worksheet A Four Section Form Section 1–Student information Section 2–Student dependency status Section 3–Parent financial information for dependent students Section 4–Student financial information

11. 11 Section 1 (page 2) STUDENT INFORMATION Social Security Number Demographic Information Citizenship Status Selective Service Registration

12. 12  If U.S. citizen, status will be confirmed by Social Security match  If eligible noncitizen, status will be confirmed by Department of Homeland Security (DHS) match. This includes:  U.S. permanent residents with I-551  Conditional permanent residents with I-551C  Eligible noncitizens with I-94  Certification from Department of Health and Human Services with designation of “Victim of human trafficking”  If neither a citizen or eligible noncitizen, the student is ineligible for federal/state aid, but might still be eligible for institutional funds Section 1 Citizenship Status

13. 13 High School Completion Status When the student begins college in the 2011-2012 school year, what will be the student’s high school completion status?  High school diploma  GED certificate  Home schooled  None of the above Section 1 High School Completion Status An important question NOT on the Worksheet:

14. 14 Section 1 High School Completion Status  If student selects High School diploma they will be required to list the high school they received or will receive diploma from  FAFSA on the Web allows students to search for high school by name, city and state An important question NOT on the Worksheet:

15. 15 Section 1 Interest in Receiving Work-study FAFSA on the Web asks If the student is interested in being considered for work- study  Indicating interest does not obligate the student to work nor will it cause the student to lose grants and scholarships  Answering “no” may restrict the students opportunity to utilize work-study An important question NOT on the Worksheet:

16. 16 Section 1 School Selection FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information  list all schools where student is applying for admission  If school code is not known you may search by city, state or college name If the student is applying to more than ten colleges, wait for the processed Student Aid Report (SAR) before deleting/adding additional colleges An important question NOT on the Worksheet:

17. 17 Section 2 (page 2) STUDENT DEPENDENCY STATUS

18. 18 Section 2 Determination of Student Dependency Status  24 or older  Married  Graduate Student  Serving on active duty in U.S. Armed Forces  Veteran of U.S. Armed Forces  Have children or dependents who receive more than half of their support  In foster care, dependent or ward of the course or parents were deceased any time after age 13  Emancipated minor  In legal guardianship  Homeless, risk of being homeless, or unaccompanied youth To be considered independent the student must meet one of the following criteria

19. 19 Section 3 (page 3) PARENT INFORMATION Demographic Information Financial Information

20. 20 Section 3 Who is Considered a Parent See instructions on page 3 of FAFSA on the Web Worksheet  Biological or adoptive parent(s)  Stepparent (regardless of any prenuptial agreement)  In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months

21. 21 Section 3 Who is Not a Parent  Do not provide information on:  Foster parents or legal guardians  If the student is in foster care or has a legal guardian, he/she is automatically considered an independent student  Grandparents or other relatives  The student must attempt to get biological parental information  Colleges may use Professional Judgment to allow the student to file as independent

22. 22 Section 3 Parents’ Tax Return Filing Status for 2010  The student will be asked to provide information about parent tax filing status for 2010:  If his/her parents have completed their 2010 federal income tax return, mark the first box  If they have not as yet filed, but plan to file a 2010 federal income tax return, mark the second box  If they have not, nor will not, file a 2010 federal income tax return and are not required to do so, mark the third box

23. 23 Section 3 Parent 2010 Adjusted Gross Income Reminder: If the answer is zero or the question does not apply, enter 0  If the student’s parents have not yet filed their 2010 federal tax return, use estimated information for this question  If the student’s parents have completed their 2010 federal tax return, use actual 2010 tax return information to complete this item.

24. 24 Section 3 Money Earned from Work by Parent(s) in 2010 Use W-2 forms and other records to list all income earned from work in 2010 (including business income earned from self-employment) for father/stepfather and/or mother/stepmother

25. 25 Section 3 Dislocated Worker The student will be asked to check if the father/stepfather and/or mother/stepmother is a dislocated worker A person may be considered a dislocated worker if he/she: is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation has been laid off or received a lay-off notice from a job was self-employed but is now unemployed due to economic conditions or natural disaster is a displaced homemaker

26. 26 Section 3 Parent 2010 U.S. Income Taxes  What was the amount parents’ U.S. income tax for 2010?  Found on federal tax return  Not the amount withheld from parents’ paychecks An important question NOT on the Worksheet :

27. 27 Section 3 IRS Data Retrieval Tool  While completing online FAFSA applicant may submit real-time request to IRS for tax data  If successful match is made, IRS federal tax information will be displayed  Applicant chooses whether or not to transfer tax data to online FAFSA  Participation is voluntary  Available January 30 th  Available for FAFSA corrections

28. 28 Section 3 Parents’ Household 2009 or 2010 Benefits Received  Indicate if the student, his/her parents, or anyone in the parents’ household received benefits in 2009 or 2010 from any of the federal programs listed  Actual amounts received are not reported

29. 29 Section 3 2010 Parent’s Additional Financial Information  Check all items received or paid in 2010  FAFSA on the Web will ask for amounts received/paid

30. 30 Section 3 2010 Parent Untaxed Income  Check all that apply in 2010  FAFSA on the Web will ask for amounts received

31. 31 Section 3 Parent Assets Parents may be asked to report:  Current balances of cash, savings and checking accounts  Net valued of investments such as real estate, rental properties, money market and mutual funds, stocks, bonds and other securities  Net value of businesses and investment farms Note: Do not include the value of your primary residence, the value of life insurance, retirement accounts and small family businesses as described in the FAFSA instructions.

32. 32 Section 3 Parent E-Mail Address Provide a parent e-mail address that will be valid at least until the student starts college  If a parent provides an e-mail address, the FAFSA processor will let the parent know the student’s FAFSA has been processed An important question NOT on the Worksheet:

33. 33 Section 3 Parent Household Size Parent Number in Household  Include in the parents’ household:  The student  Parent(s)  Parents’ other dependent children, if the parents provide more than half their support or the children could answer “no” to every question in Section 2, regardless of where they live  Other people, if they now live with the parents and will continue to do so from 7/1/11 through 6/30/12, and if the parents provide more than half their support now, and will continue to provide support from 7/1/11 through 6/30/12 An important question NOT on the Worksheet:

34. 34 Section 3 College Students in the Parent Household NOTE: Some financial aid offices will require proof that other family members are attending college College Students in the Parent Household  Always include the student even if he/she will attend college less than half-time in 2011-2012  Include other household members only if they will attend at least half-time in 2011-2012 in a program that leads to a college degree or certificate  Do not include the parents An important question NOT on the Worksheet:

35. 35 Section 4 (page 4) STUDENT FINANCIAL INFORMATION

36. 36 Section 4 Student Information Questions in Section 4 are identical to the parent financial questions we covered in Section 3  If the student is single, ignore references to “spouse”  If the student is married, report spouse’s income and assets  Skip the student’s adjusted gross income question if the student is not required to file taxes

37. 37 Section 4 Student Information There are questions in Section 4 that the student will be asked only if he/she checked at least one response in Section 2 – Student Dependency Status  Federal benefits received  Student household size  Number in college

38. 38 Special Circumstances Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as: Loss or reduction in parent or student income or assets Death or serious illness Natural disasters affecting parent income or assets Unusual medical or dental expenses not covered by insurance Reduction in child support or other untaxed benefits Financial responsibility for elderly grandparents Or any other unusual circumstances that affect a family’s ability to contribute to higher education

39. 39 What Happens Next? FAFSA information is sent to colleges listed on the application and Students receive Student Aid Report (SAR) from federal processor  Students and families review SAR for important information and accuracy of data  Colleges match admission records with financial aid applications and determine aid eligibility  Colleges mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms

40. 40 Student Aid Report (SAR) After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment will be sent if student provides an email address A paper SAR will be mailed if no student e-mail address is provided An electronic copy of the data will be sent to each college or university listed by the student in Section 1 Keep a copy of the SAR with other financial aid documents

41. 41 Questions and Answers