1. Senior Student/Parent Night
Thursday, September 15, 2016

2. Important Senior Items and Dates
Senior Fee – Due September 23
FAFSA Opens – October 1
Prom – Proposals Due Next Thursday
Childhood Pictures and Senior Picture – Due December 16
Robing Ceremony – End of April (Working on April 27)
Yearbook – Ads & Questionnaire

3. Important Senior Items and Dates
MANDITORY Graduation Practice – Tuesday, May 23, 2017 at 2 p.m.
Luncheon – 2 – 3 p.m.
Practice – 3 – 6 p.m.
Graduation – Thursday, May 25, 2017 at 7 p.m.
St. James Baptist Church
Project Graduation - May 25, 2017
Millennium Youth Entertainment Center
10 p.m. – 5 a.m.
I Need a Fundraising & Donation Committee

4. Financial Aid

5. Topics We Will Cover Tonight
Types of Financial Aid
Applying and Determining Aid
Financial Aid Timeline

6. What You Need to Know: Must file every year in college
Can file October 1st of your senior year
FSA ID – Federal Student Aid ID (Parent/Student)
The earlier the BETTER!!

7. New Opening Date

8. How Do Individuals Apply?
Free Application for Federal Student Aid
(FAFSA)

9. The next screen shows us the FAFSA “Home” page.

10. Types of Financial Aid
Grants: Money that is mostly awarded on the basis of need and DOES NOT have to be repaid.
Work Study: Programs of on or off-campus jobs for students who demonstrate financial need. Hours are limited.
Loans: Money that is borrowed that must be repaid with interest.
Scholarships: Awards that are based on need, merit, or achievement.

11. Defining “Financial Aid”
What?
Free/Pay Back?
Merit/Need?
How?
When?

12. Defining “Financial Aid”
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
Loans
4 types of financial aid a student can receive for college?
Grants
Work - Study

13. Defining “Financial Aid”
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Mostly Merit
Sometimes need
Private
Institutional
Apply!
NOW!
Loans
Subsidized
Unsubsidized
Grants
Work - Study

14. Defining “Financial Aid”
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Mostly Merit
Sometimes need
Apply!
Private
Institutional
NOW!
Loans
Neither – almost anyone can get these loans
October 1st
Pay Back
FAFSA
Subsidized
Unsubsidized
Grants
Work - Study

15. Defining “Financial Aid”
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Mostly Merit
Sometimes need
Apply!
NOW!
Private
Institutional
October 1st
Loans
Neither – almost anyone can get these loans
Pay Back
FAFSA
Subsidized
Unsubsidized
Need
But money will go to those who apply first
October 1st
Grants
FREE
FAFSA/TASFA
Work - Study

16. Defining “Financial Aid”
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Mostly Merit
Sometimes need
Private
Institutional
Apply!
NOW!
Loans
Neither – almost anyone can get these loans
October 1st
Pay Back
FAFSA
Subsidized
Unsubsidized
Need
But money will go to those who apply first
October 1st
Grants
FREE
FAFSA/TASFA
Neither, you work for it!
Work - Study
Combination
FAFSA
October 1st

17. TASFA Texas Application for Student Financial Aid
For undocumented students
Print, Fill out, and Mail to universities

18. Important Financial Aid Terms
PIN – Personal Identification Number
FSA ID – Federal Student Aid ID
SAR – Student Aid Report
EFC – Expected Family Contribution
COA – Cost of Attendance

19. FAFSA-Free Application for Federal Student Aid
fafsa.gov
Fill out and submit form online
Students and Parents work together
Will take ~30 minutes with correct information in front of you
If you have already filed taxes you can use the IRS Data Retrieval Tool - information is auto filled for you (no mistakes) – “Link to IRS” button
List all schools you applied to
Never pay ANYTHING to file the FAFSA

20. Disclaimer: The student and parent cannot share the same FSA ID
Disclaimer: The student and parent cannot share the same FSA ID. The student must apply for an FSA ID and the parent must apply for an FSA ID. An FSA ID serves as part of a person’s identification, as well as their electronic signature, and should only be used by that individual. That also means that the student and the parent should not use the same address linked to the FSA ID.

21. What do you need to fill out the FAFSA/TASFA?
1. ID, Driver’s License, SSN
2. Student W-2 and Tax Return
3. Parents 1040, W-2, and 1099 Tax Forms
4. Parents Bank Statements and Mortgage Info
5. Records of Stocks, Bonds, and Investments
6. Untaxable benefits documentation (Social Security, Veterans Benefits)
7. Business/Farm Records
8. Unusual family circumstances and costs (Child Support)

22. SAR – Student Aid Report
Results/Summary of information filled out on the FAFSA
You and each of the schools you listed will receive a copy
Indicates your family’s Expected Family Contribution and if there were any errors

23. EFC – Expected Family Contribution
Based on your financial information from the FAFSA, the federal government estimates how much your family can contribute to the student’s college expenses each year
0 – 99,999
Get an estimated EFC NOW: FAFSA 4caster

24. Verification University will ask for additional documents
W-2, 1099, Income Tax Returns
Universities are required to verify 30% of applicants
Lower Expected Family Contribution increases your odds of being verified
How do you decrease your odds of needing to verify? Use the “Link to IRS” button on the FAFSA.
How will you know?
* next to Expected Family Contribution on FAFSA/SAR
Student Portal

25. COA – Cost of Attendance
Different for every school
Includes:
Tuition and fees
Room and board
Books
Transportation
Personal expenses
COA Examples
UT - $26,346 Texas A & M - $27,202
Texas State - $21,604 Tarleton State - $18,366
Rice - $40,566 St. Edwards – 40,408

26. Need COA – Expected Family Contribution = Need Ways to cover need:
Scholarships, Grants, Work Study, Loans

27. IMPORTANT FACTS
Pay your bills first. Questions 41 and 90 ask about how much cash students and parents have in savings and checking accounts at the moment you are filling out the FAFSA. But notice that there are no questions on the FAFSA about your debts or bills. Put the amount that is in your account AFTER you pay your monthly bills
Questions 42, 43, 91 and 92 ask about the student’s and the parents’ investments. But many filers don’t realize that the value of any retirement accounts, as well as the home you live in, should not be included in these boxes
Questions 24 and 25 ask about the highest level of education your parents completed. Some states and colleges offer extra aid to children of parents who haven’t earned college degrees.
Strategize your college list. FAFSA reports your entire college list to each university.

28. Between Oct. 1st and Jan. 1st Spring of the Senior Year
Financial Aid Timeline
Fall of the Senior Year
Submit the FAFSA or TASFA
Between Oct. 1st and Jan. 1st
Receive your Student Aid Report & EFC
Parents/guardians & students file taxes
Verification?
Colleges calculate student need with the following formula:
Cost of Attendance (COA) – EFC = NEED
Junior Year
Colleges send Financial Aid Packages
Student should receive decisions from all colleges
Spring of the Senior Year
Compare financial aid awards
Make final decision and accept financial aid award
Appeal?

29. What Next? Accepted Admission to a College/University…now what?
FERPA Release
Direct Deposit Authorization
eProxy Authorization
Federal Online Orientation

31. Beware of Scholarship Scams
Watch out for the following claims:
“For a fee, we provide a comprehensive list of scholarships.”
“Billions of dollars of award monies going unclaimed.”
“We have a money-back guarantee.”
“We need your credit card or bank account number.”
“We will do all the work.”
AVOID fafsa.com

32. Questions?