1. Financial Aid 101 Prepared by Margie Pederson-Program Specialist
Tigist Stangohr-program specialist

2. What we will cover today:
What is FAFSA?
FAFSA Eligibility Guidelines
What is WASFA?
FAFSA Processing
Determining Financial Aid Eligibility
Cost of Attendance
Satisfactory Academic Progress
Types of aid offered
What’s New and Improved
Service to Students
Working Together

3. What is FAFSA? (Free Application for Federal Student Aid)
Is a federal application form that needs to be completed if students want to apply for federal student aid
The FAFSA is filled out online at fafsa.gov. Paper FAFSA, FAFSA in Spanish and FAFSA in brail still an option
Filling out the FAFSA is the fist step in the financial aid application process

4. To be considered for federal financial aid students must:
Have a high school diploma, GED, completed high school education in a home school setting as approved by individual states
Pursue an eligible degree or certificate at Shoreline
Be a U.S. citizen or eligible non-citizen and have a valid social security number
Be registered for Selective Service if they are a male over 18 and born after 1960
Not owe a repayment on any grant or be in default on a federal educational loan

5. What is WASFA? (Washington Application for State Financial Aid)
Is the state aid application form that is completed by students that have DACA status (Deferred Action for Childhood Arrivals).
Students that came to the US without documentation before the age of 16
Must have earned a high school diploma or GED in Washington
Must have lived in WA for 3 years before earning a HS diploma or GED
Sign an affidavit affirming eligibility and promise to establish legal status when eligible to do so

6. What happens after the application is received
The FAFSA processor will analyze a submitted FAFSA information and, using a formula established into law by Congress, it calculates an Expected Family Contribution (EFC) for each applicant
What is an Expected Family Contribution (EFC)?
An EFC is an index number that is calculated for each FAFSA applicant according to a formula that is established by law in Congress.
Each student’s EFC is used to determine a student’s need
The higher the EFC the less financial aid need
Example: A student with a 0 EFC shows the most need and could possibly qualify for most aid and a student with 4000 EFC shows less need, could qualify for some aid. A student with an EFC of 20,000 does not show need but could qualify for a Direct Student Loan

7. FAFSA Flow Chart

8. Determining Financial Aid Eligibility
There is not an “income cutoff” or other simple method for determining whether you will qualify.
All students in need of help paying for college should apply.
Generally, financial aid is determined by calculating the difference between the cost of attending college and what the student and/or the student’s family are expected to contribute based on the FAFSA report.
Cost of Attendance (COA)
– Expected Family Contribution (EFC)
= Financial Need
Awarding policies as set by the Federal Government, State of Washington, the College, and the Financial Aid Office

9. Cost of Attendance: Cost of attendance is the amount it will cost a student to go to school for one academic year, usually fall, winter and spring quarters
FULL-TIME STUDENT BUDGET
Res Living Away
Res Living w/Family
Tuition & Fees (average FT)
$     3,660
 $     3,660
Books & supplies
$        825
 $        825
Rent, Food, Utilities
$   10,140
 $     3,165
Transportation
$     1,140
 $     1,140
Miscellaneous
$     2,271
 $     1,809
TOTAL
$   18,036
 $   10,599

10. Satisfactory Academic Progress
Qualitative Measures: Minimum GPA requirement, quarterly and cumulative, of 2.0
Quantitative Measures: Minimum quarterly credit completion percentage for enrollment level. Complete at least 50% of credits attempted each quarter.
Pace of Progression: Minimum cumulative credit completion percentage, or “pace of progression,” of at least 67% of all credits attempted overall for a specific program.
Maximum Time Frame: Ability to complete a degree or certificate program within a maximum timeframe allowed, 125% of required credits, for program.

11. Types of Aid Offered at Shoreline
Federal Pell Grant
Federal Supplemental Educational Opportunity grant
Washington State Need Grant
College Bound Scholarship (State)
Shoreline Grant
Shoreline Tuition Waiver
Federal and State Work Study
Federal Direct Loan
Federal Parent Plus Loan
Nursing Loan

12. What is new and improved?
Data sheet no longer required
Students still need to fill out additional documentation when needed
As long as a student is admitted, has filled out the FAFSA and has a stated degree or certificate program we will review the file for eligibility
Financial Aid Portal
Students can check the status of their financial aid application online 24/7
All required forms are available online and students are automatically directed to the forms they need to submit by going to the portal
Increased communication with our students-voice mails and s responded to within 24 hours if not the same day

13. What is new and improved: cont.
Revised Satisfactory Academic Progress policy
Gives students more options to change programs
Gives students time to meet minimum standards after being reinstated for aid
Students who submit financial aid appeals due to unsatisfactory academic progress will have financial aid eligibility determined at the same time their financial aid appeal is reviewed.
This allows students that are struggling the comfort of knowing if they have aid sooner than later
Application processing times have been reduced, for students meeting our posted financial aid deadlines.
Financial Aid Workshops are offered twice a month to assist students with their FAFSA application.

14. Service to Students
Number of FAFSA applications received at Shoreline: –
thru 9/
14.4 million: average amount of financial aid awarded annually
Work-study placements
– 140

15. Working Together Thank you.
Dedicated to serving the educational, work force and cultural needs of our diverse community
Thank you.