1. 2017-2018 Avon High School Financial Aid Workshop Thomas M
Avon High School Financial Aid Workshop Thomas M. Ratliff Associate Vice President for Financial Aid

2. Complete the FAFSA - Online
at:

4. New Password Requirement
The U.S. Department of Education now requires users to set up a username, password and identity verification questions.
This new step is necessary to properly protect your information

5. Complete the FAFSA You can do it tonight!
File by March 10th – Indiana’s Priority Deadline OR
by any earlier deadline your school may have
Avon FAFSA Day for Senior Families
Monday, November 21
10:00 am to 7:00 pm in the ALC

7. Student Info College grade level Mailing address Citizenship
State residency
Phone number
Gender
Marital Status
Drivers license
College grade level
Citizenship
Selective Service registration
High school completion
Degree level sought
Interest in Work-study
Bachelor’s degree earned
Education levels for parents

8. Tax Info
For the FAFSA will need federal tax information from your 2015 federal taxes
Virtually everyone filed these taxes earlier this year
Using the IRS DATA RETRIEVAL TOOL allows for all the tough tax questions to be populated automatically for you!

9. Student Financial Info
IRS Data Retrieval Tool
Tax filing info
AGI
Federal tax paid
Exemptions claimed
Income from work
Estimates for Assets, Cash, savings, checking
Net worth of business, investments or investment farm they fully or partially own one

10. Student Dependency Questions
Born before January 1, 1994?
Married?
In a master’s or doctoral program?
Support dependents over 50%?
Military active duty or veteran?
Orphan, foster child or Ward of the Court?
Court designated Emancipated Minor?
Under a legal guardianship?
Homeless?

11. Parent Info – Which Parent(s)?
Dependent students must report parental info for the parent they lived with most in the past 12 months
Only if they did not live at all with either a biological or adoptive parent in the past 12 months would they then use the parent who financially supported them the most in the past 12 months
If parent is married, including a remarriage, their spouse’s information is required, too

12. Parent Info – Which Parent(s)?
The primary parent to report information must be a biological parent, adoptive parent or a legal guardian of the student
Students living with grandparents, other non-parent family members or friends must still report information concerning their parents on the FAFSA
Should the student’s parents not currently be married, but are residing in the same household, both parents must report data

13. Parent Info Items Name and SSN of parent(s) student lived with most
Marital status and date
Dates of Birth
State Residency
Household size
Number in college
Excluding the parents
IRS Data Retrieval Tool Option
Tax filing info
AGI
Federal tax paid
Exemptions claimed
Income from work

14. Parent Info – Asset Questions
Cash, savings, checking
Investments
Business or investment farm net worth
(if you own and have over 100 fulltime equivalent employees)
Net Value = Net Worth – Debt Owed

15. IWU’s Code is

17. After Filing the FAFSA
The federal government will calculate your Expected Family Contribution (EFC) and send it to the colleges you released you information to.
EFCs range from 0 –
0 = full Pell Grant eligibility
Financial Aid Office staff will
Review your file for accuracy and completeness
Request more documentation if needed
Correct FAFSA answers if necessary

18. Then Financial Aid Staff Will…
Calculate your estimated Cost of Attendance (COA)
This includes tuition, room, board, books and supplies, transportation, personal and miscellaneous expenses
COA – EFC = Need
Award aid to try to fill your financial Need
Notify your student electronically or by paper letter of the aid they qualify for

19. What Funds Could You Get?
Gift aid includes
Grants – federal, state and institutional
Scholarships – institutional and off-campus
Self-help aid includes:
Work Study – federal or state
Loans – federal, institutional or private bank

20. Federal Title IV Aid Programs
Federal Pell Grant
Federal SEOG Grant
TEACH Grant
Federal Work Study
Federal Perkins Loan
Federal Direct Loans
Subsidized and Unsubsidized
Parent Loan for Undergraduate Students (PLUS)

21. Federal Pell Grant Awarded for undergraduate study only
$5,910 max for
All students who qualify based on their financial need typically receive this funding

22. Federal SEOG Grant Typically must be Pell eligible
Schools can award between $100 - $4,000
Award amounts vary widely per school
Limited fund that can run out

23. Federal TEACH Grant
Must intend to teach in a high need area for at least four years after graduation
Meet academic achievement requirements
Score above the 75th percentile on the SAT
Maintain at least a 3.25 GPA in college
Must sign a TEACH Agreement to Serve annually

24. Federal TEACH Grant Up to $4,000 per year Cumulative limits
$16,000 for undergraduates
$ 8,000 more for graduate students
Great program with high award amounts
HOWEVER, if you do not teach for four years as required, this “grant” converts to a loan with retroactive interest charged back to the date of you first received funding!

25. Scholarships
Check with your college for academic and merit scholarship options
Much info on this is available on their website
Pursue local scholarships
Use free scholarship search services
Remember: Organizations shouldn’t ask you for payment to see if you qualify for their money. Don’t pay for searches.

26. Federal Work Study
Students can qualify for eligibility to earn money working a part-time job
Federal government pays 50% – 100% of the student’s salary
All wages are protected from the FAFSA
Limited fund that can run out

27. Federal Direct Loans These are loans that must be repaid Subsidized
Government pays interest while in school
Interest rate of 3.76% % fee (currently)
Unsubsidized
Student responsible for the 3.76% interest (currently)
Both
No payments required until 6 months after school

28. Federal PLUS Loan
Parents of dependent undergraduate students can apply to borrow these funds
Parent is responsible to repay the loan
A credit check is required
Loan limit = Full Costs – other aid
Fixed interest at 6.31% % fee (currently)
Loan fees are charged
Repayment begins within 60 days

29. State Aid Programs - SFA
Frank O’Bannon Grant Program
Higher Education Award
Freedom of Choice Award
21st Century Scholars Program
Indiana Nursing Scholarship
Mitch Daniels Early Graduation Scholarship
Child of Certain Veterans and Public Safety Officer Supplemental Grant
Additional info:

30. State Aid Programs - SFA
Must earn 30 credit hours to qualify for maximum grant renewal each year
Must earn 24 credit hours by the end of their first 12 months as a regular college student to earn the minimum grant renewal
Advanced Placement and Duel Credit hours count towards these minimums

31. State Aid Programs - SFA
Incentives may be possible for qualifying students who:
Earn 39 credit hours per 12 month period
Earn an honors diploma from high school
Maintain a 3.0 GPA or better in college
Earn an associate’s degree before pursuing a bachelor’s degree

32. Thanks for coming to the 2016 Avon High School Financial Aid Workshop
Thanks for coming to the 2016 Avon High School Financial Aid Workshop Thomas M. Ratliff Associate Vice President for Financial Aid