1. Welcome to Financial Aid 2018-2019
Presenter: Stan Werne
Vincennes University
Director of Financial Aid
and Member of
Indiana Student Financial Aid Association

2. Federal Financial Aid Programs
6/3/2018
Federal Financial Aid Programs
Need-based
Grants are not paid back:
Pell Grant
SEOG Grant (limited funds)
Loans have to be paid back:
Subsidized Stafford Student Loan
Earn a pay check for hours worked:
Work-Study (limited funds)
Non-need-based
Unsubsidized Stafford Student Loan
Parent PLUS Loan

3. State of Indiana Financial Aid
6/3/2018
State of Indiana Financial Aid
Commission of Higher Education: Div. of Student Financial Aid
Grant Programs
Frank O’Bannon & Incentives
- Academic/Technical Honors Incentive
- Accelerated Completion Incentive
- Associate Degree Incentive
21st Century Scholars
Scholarships
-William A. Crawford Minority Teacher Scholarship
-Next Generation Hoosier Educators Scholarship

4. At state college or university
6/3/2018
Tuition Remission
At state college or university
- National Guard members
Apply via link on in.gov/che & work with CO or education officer.
- Children of disabled/deceased veterans or Purple Heart recipients
- Children of POW/MIA’s
Apply via link on in.gov/che to IN VA.
- Children/spouse of state police officers/ fire fighters/EMTs killed in line of duty
Apply via in.gov/che.

5. I’ve scrolled down to State Financial Aid.
Click here, then scroll down to click State Financial Aid – By Program for separate applications.

6. Your key to financial aid: FAFSA
Free Application for Federal Student Aid

7. Why Free Application for Federal Student Aid (FAFSA) is key:
6/3/2018
Why Free Application for Federal Student Aid (FAFSA) is key:
Family’s demographic and financial information is required to calculate expected family contribution (EFC).
Why needed?

8. Financial Aid Need Calculation
6/3/2018
Financial Aid Need Calculation
U.S. Department of Education
Definition of Financial Aid Need
Cost of Attendance (COA)
Varies from school to school
Minus
Expected Family Contribution (EFC) Same for all schools--results of your FAFSA
Scholarships & other resources
Equals
Financial Aid Need

9. Part of Financial Need Calculation
6/3/2018
Part of Financial Need Calculation
Cost of Attendance (VU/VUJC )
Direct costs
Tuition & fees ($5736 – 30 credits/year)
On-campus Room & board ($9702)
Program expenses (vary by major)
*********************************
Indirect costs
(At-home “room & board” ($2434))
Books & supplies ($1286)
Transportation ($1856)
Miscellaneous ($1104)
Loan fees ($64)
Total: $19,748/$12,480

10. Sample Aid Package Suppose student lives on campus: EFC - 0 - 0
COA $19,748 Direct cost = $15,438
EFC
$19,748 $15,438
Pell grant , ,920
$13,828 $ 9,518
Subsidized loan - 3, ,500 $10,328 $ 6,018
Unsubsidized - 2, ,000
$ 8,328 $ 4,018
PLUS/unsub loan - 4, ,000
$ 4,328 $

11. www.fafsa.gov 2018-19: 2016 tax & income info.
FAFSA on the Web available Oct. 1, 2017.
: 2016 tax & income info.
State Grant deadline: April 15, 2018
still available until June 30, 2018 for current academic year.
: 2015 tax & income info.

13. START 2018-2019 FAFSA START 2017-2018 FAFSA
Between July 1, 2018 and June 30, 2019
Between July 1, 2017 and June 30, 2018

14. FAFSA Step 1: Student information and plans: Step 2: School choices:
SSN, DOB, marital status, (for state notifications), Selective Service, school level ?
Step 2: School choices:
Up to 10 schools (codes online).
Housing plans: on/off campus or with parents?

15. FAFSA Step 3: Student must submit parent data if answers = “No.”
Born before Jan. 1, 1995?
Grad student, active duty military, or veteran?
Provide more than half support for child or other dependent?
Since age 13, in foster care, ward of court, or parents deceased?
Emancipated minor or in guardianship (before turning 18)?
Homeless or unaccompanied youth?

16. FAFSA Step 4: Parental information:
SSN, DOB, marital status, residency, # in household, # in college?
Marital status question about legal parents (biological or adoptive) regardless of gender:
Never married
Unmarried & both parents living together
Married
Remarried (including stepparent)
Divorced or separated (custodial parent or parent student lived with most past 12 mos.)
Widowed

17. FAFSA Step 5: Financial information
Parents: federal tax & income info.
Use the IRS Data Retrieval process if you can.
Current checking & saving accts; investments?
NOT retirement accounts, home you live in, farm you work, or business with 100 or fewer full-time employees.
Parents: Additional info: Child support paid? Untaxed income? Dislocated worker? Recipient of federal benefits?

18. FAFSA Step 5: Continued: Student: 2016 federal tax/earnings info.
Use the IRS Data Retrieval process if you can.
Current checking, savings, investments? Untaxed income?

19. Cannot use IRS DRT Jamie– 2018 High School Senior
Filing FAFSA on Nov. 5, Uses 2016 tax data, when parents (still married) filed jointly.
Parents divorced in February 2017; Jamie has lived with mom since then.
Mom’s FAFSA marital status is “divorced,” so different from 2016 tax filing status.
Jamie will file the FAFSA using only mom’s portion of the 2016 income & mom’s current assets since she lived with her more since the divorce (or the past 12 months).

20. Cannot use IRS DRT Jennifer—2018 High School Senior
Filing FAFSA on Nov. 5, Uses 2016 tax data, when Jennifer’s mom filed HOH.
Jennifer’s mom remarried in April 2017.
Jennifer will list mom & stepdad as “married/remarried” on the FAFSA.
Combine mom’s 2016 tax info & income with stepdad’s 2016 tax info & income.
Assets: both parents’ combined current value as of the date the FAFSA is filed.

21. FAFSA Step 6: E-sign with FSA IDs and submit:
6/3/2018
FAFSA
Step 6: E-sign with FSA IDs and submit:
Both student & parent e-sign.
Be sure to click SUBMIT button, then print confirmation page.
If submitting corrections, be sure both e-sign and submit. Print confirmation page.

22. FSA ID (username & password) PIN is obsolete.

23. FSA ID
Can be accessed at or at fafsa.gov by clicking on the FSA ID icon.
If is used (strongly suggested), it must be unique to each FSA ID.
Student’s & parent’s must be different.
Requires a Social Security Number.

24. FSA ID Enter email (Students: Do not use HS email).
Create username & password.
Hint: Select the box to view what is typed!
Password cannot contain your name.
Can also verify cell phone number.
Challenge questions:
Select 2 from options provided, then answer.
Create 2 of your own and answer.
Record all these for future reference.

25. FAFSA filed. Then what? One of three results: EFC without verification
6/3/2018
FAFSA filed. Then what?
One of three results:
EFC without verification
OR FAFSA reject/no EFC: major error
OR FAFSA processing center identifies student for verification.
Return to FAFSA to use IRS data retrieval or request IRS tax return transcript to verify income and tax information.
Submit other documentation as required by school.

26. But my tax return is misleading because…. What can I do?
Ask at school to request consideration of special circumstances.
Submit verification and other supporting documentation as requested.
Financial aid officers can make professional judgments.
Maybe grant or subsidized loan eligibility can result.

27. Special Circumstances #1
Jimmy – 2018 High School Senior
Filed FAFSA Nov. 5, 2017, using 2016 tax data.
They use IRS data retrieval because mom’s FAFSA marital status (widow) is the same as her 2016 tax filing status (HOH).
In March 2017 mom lost her job; found new one in August 2017, but making $15K less.
Jimmy should talk with financial aid offices.
Will ask for documentation about mom’s 2017 income or project her 2018 income.

28. Special Circumstances #2
Joe—2018 High School Senior
Filed FAFSA Nov. 5, 2017, using 2016 tax data, when parents filed jointly, both earning a decent income.
Parents’ marital status in Nov. matches 2016 filing status, so they use IRS DRT.
Joe’s mom dies Dec. 1, 2017.
Joe’s should talk to financial aid offices.
Will ask for documentation about dad’s 2017 income or project his 2018 income.

29. Other Sources of Aid College/university scholarships =
Ask at admissions or financial aid offices. (VU priority deadline is Jan. 15, 2018.)
Private scholarships =
Employers’ programs
Community foundation
Professional organization Web sites
Web sites like
Need not be academic, artistic, athletic star to get scholarships.

30. CAUTION! College Goal Sunday: Nov. 5, 2017, and Feb. 25, 2018.
6/3/2018
CAUTION!
Don’t pay a fee to file the Free Application for Federal Student Aid or search for scholarships.
Filing & processing of the FAFSA are FREE.
For FAFSA on the Web, be sure to go directly to Don’t just google FAFSA.
Contact any financial aid office for questions.
College Goal Sunday:
Nov. 5, 2017, and Feb. 25, 2018.
VU or VUJC, 2:00-4:00.

31. Good Luck!