2. Agenda What is financial aid? What are the types of financial aid?
How do I apply for financial aid?
Where can I get more information?

3. What is Financial Aid?
Money from a source other than the family to assist with the cost of attending college or career school
Family
Federal Government
States
Colleges
Private sources: companies, organizations

4. Financial Aid Myths College is too expensive
Only the smartest students receive financial aid
Only students with high financial need receive aid
My parents make too much money
The form is too hard to fill out
The FAFSA is only for grants & scholarships
I only have to complete the FAFSA one time
The estimated family contribution number is the amount I will have to pay

5. Types of Financial Aid Scholarships: FREE MONEY
Usually awarded based on:
Academic achievements
Interests & career plans
Ethnicity, family background
And/or financial need
Grants: FREE money awarded based on need
Work-Study
Part time jobs for students with financial need
Maybe on campus or off campus
Do not use towards tuition & immediate University payment
Loans-MUST BE PAID BACK
Borrowed $
Low interest/no interest loans
May need credit worthy cosigner

6. Net price calculators Required for every college
Will provide you with estimated financial aid & (possibly) estimated scholarship eligibility for that college

7. What is the FAFSA? Free Application for Federal Student Aid
Standard form that collects demographic and financial information about the student & family
Used to determine financial need (EFC=Estimated Financial Contribution)
Used to apply for federal & state student grants, work-student & loans

8. Estimate Your Federal Aid
For an early estimate, use the FAFSA4caster
Enter basic financial information
Receive an estimate

9. Who can get federal student aid?
Basic criteria:
U.S. citizen or permanent resident
High school graduate
Eligible degree or certificate program
Valid social security number
Males registered for selective service
Satisfactory academic progress while in college/career school
Not a U.S. citizen or permanent resident?
You will complete the TASFA

10. STEP 1: Create a FSA ID @ www.fsaid.ed.gov
What is the FSA ID?
Username & password that you must use to log into certain U.S. Department of Education (ED) websites
Create one for you AND one for at least one of your parent(s) TODAY if you are a junior or upcoming senior!
What do you need to create your FSA ID?
Your social security #
Your full name
Your date of birth

11. STEP 2: Gather the documents you need
Your driver’s license # (if you have one)
2016 Tax records
Records of any untaxed income from 2016
Your FSA ID (to sign your application electronically)
List of colleges you are interested in attending
Your FAFSA information will be sent to these colleges
The college will work to put together a financial aid package for you based on your FAFSA information
Optional: Use FAFSA on the Web Worksheet to prepare your answers and get organized

12. STEP 3: www.fafsa.gov Fill it out! Apply on or as soon after October 1
Use 2016 tax information!
After taxes are filed, be sure to use the IRS data retrieval tool in the FAFSA
Need help?
FED.AID
Live chat in fafsa.gov
Don’t forget: WATCH FOR THE CONFIRMATION PAGE that says your FAFSA has been submitted, THEN log out

13. Use the irs data retrieval tool

14. STEP 4: Email Confirmation
Check your for your FAFSA confirmation
SAR (Student Aid Report)
Double check your information: make sure it is correct!
If you used estimated numbers, and have completed your tax return, complete the IRS data retrieval in the FAFSA
Correct any mistakes & resubmit the FAFSA
Meet all deadlines or your could miss out on aid!

15. Tips for completing the FAFSA
Apply October 1 & meet all deadlines
Use estimates if tax returns are not completed
If parents are divorced, use parent with whom the student lives with the most & provides 50% or more of the support
Step parent must be included
If a student thinks he/she can answer ‘yes’ to a dependency status question, check with the financial aid administrator

16. What happens next? Apply for admission
Each college you are admitted to will notify you of how much $ you will receive from them
Colleges will always try and give you the best, FREE $ first
Federal & State Grants
Work Study
Federal Loans (student & parent loans)
You must accept/decline each type of aid offered
Once you decide which school to attend:
Keep in touch with the financial aid office
Find out when & how you will receive your aid

17. Federal Student Aid Maximums for 2017-2018
Maximum amounts for :
Federal Pell Grant: $5,920
Direct Loans: $5,500
Subsidized Student loans: zero interest while in school & during periods of deferment
Unsubsidized Student loans: interest throughout life of loan
No credit check on either loan/no payments while in school
Special repayment plans
Federal Work-Study: depends on funds available at school & student’s need
Federal Direct PLUS loan: (for parents) COA minus other aid received
Parents borrow for their student, basic credit check is conducted
Parents may defer payment while student is enrolled in college
Private Education Loans
In student’s name, but would need a credit worthy cosigner
Cosigner release options/anyone can be a cosigner
Rates based on credit

18. Texas aid $ amounts for these grants will vary per college
TPEG-Texas 4 year public colleges
TEG-Texas private colleges
TEOG-Texas community colleges
TEXAS Grant
State exemptions

19. Professional judgment/special circumstances
Is something from the 2016 taxes different from your current situation?
The college financial aid office has paperwork you may submit (with documentation) to request to have these changes made to better reflect your current situation
Lost wages/income changes
One time lump sums/IRA rollovers
Extreme medical bills/payments, not covered by insurance
Nursing home expenses not covered by insurance
Unusually high child care costs
NOT AN OPTION:
Credit card balances
Vacations
Large mortgage/large car payments

20. Comparison Shop: College Cost Center

21. Where can I get more info/help?
Information about aid programs
Links to free scholarship & college searches
FED.AID
Info about aid programs
Help with FAFSA

22. Social Media

23. The Federal Student Aid Information Center

24. TASFA WHAT IS THE TASFA? Where do you get it? What does it look like?
Texas Application for State Financial Aid
For undocumented students
An application used by financial aid administrators at most Texas colleges and universities to determine a student’s eligibility for state financial aid
New 18/19 not released yet
October 1, 2017
Where do you get it?
What does it look like?
TASFA Process

25. Instructions to assist

29. Affidavit to become a permanent resident
Each school has a different form
Must be notarized
Some schools require it every year a TASFA is submitted
Form may go to:
Admissions
Financial aid
Business office/Bursar

30. Complete TASFA-fillable form online, save & print.
Tasfa process
Sign, scan & to financial aid office along with tax transcripts (if filed), selective service info & affidavit. Also drop off a hard copy to financial aid office.
Financial aid office manually enters in TASFA information and computes EFC for student.
Complete TASFA-fillable form online, save & print.
Financial aid office awards student only Texas $ (TEOG, TPEG, TEG, TEXAS Grant, Texas Work Study, CAL, Private Loan)

31. Important Resources www.everychanceeverytexan.org www.finaid.org
ApplyTexas: Apply for admission to Texas colleges, community colleges & universities at:
Compare Texas Colleges

32. QUESTIONS? Chandra Gonzalez
Assistant Director, Scholarships & Financial Aid
University of Houston Scholarship Deadline:
November 11, 2017
Must be admitted & test scores submitted