1. FAFSA and Senior Information Night
October 2017

2. Financial Aid

3. Topics We Will Cover Terms to Know Types of Financial Aid
Applying and Determining Aid
-FAFSA/TASFA
Miscellaneous Facts

5. Important Financial Aid Terms
PIN – Personal Identification Number
ITIN – Individual Taxpayer Identification Number
SAR – Student Aid Report
EFC – Expected Family Contribution
COA – Cost of Attendance
Need
Verification

6. PIN – Personal Identification Number
Needed to complete and sign the FAFSA
Both parents AND students
Apply for PIN at pin.ed.gov
Same PIN for your entire life
Will use every year in school to file the FAFSA
Keep PIN in a safe place and do not share with anyone

7. ITIN – Individual Taxpayer Identification Number
Tax processing number issued by the IRS in the place of a SSN
Undocumented students or parents

8. 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 EFC and if there were any errors

9. 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

10. COA – Cost of Attendance
Different for each school
Includes:
Tuition and Fees
Room and Board
Books
Transportation
Other/Personal Expenses
COA Examples
NYU – $71,754
Schreiner University - $37,156
Texas A&M - $27,452
UT Austin - $26,626
Texas State - $23,230
Tarleton State - $22,612

11. Need
Cost of Attendance
– Expected Family Contribution
Need

12. Verification University will ask for additional documents
W-2, 1099, Income Tax Returns
Universities are required to verify 30% of applicants
Lower Estimated Family Contribution (EFC) increases your odds of being verified
How will you know?
* next to EFC on FAFSA/SAR
Student Portal

13. Types of Financial Aid
Scholarships: Awards that are based on need, merit, or achievement.
Loans: Money that is borrowed that must be repaid with interest.
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.

14. Defining Financial Aid
What?
Free/Pay Back?
Merit/Need?
How?
When?

15. Defining Financial Aid
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
Loans
Grants
Work-Study

16. Defining Financial Aid
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Apply!
Check my website for scholarships and search engines.
NOW!
Both Merit
and Need
1. Private
2. Institutional
Loans
Grants
Work-Study

17. Defining Financial Aid
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Apply!
Check my website for scholarships and search engines.
NOW!
Both Merit
and Need
1. Private
2. Institutional
Loans
Pay Back
Neither – almost anyone can get these loans
FAFSA
NOW!
Subsidized
Unsubsidized
Grants
Work-Study

18. Defining Financial Aid
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Apply!
Check my website for scholarships and search engines.
NOW!
Both Merit
and Need
Private
Institutional
Loans
Pay Back
Neither – almost anyone can get these loans
FAFSA
NOW!
Subsidized
Unsubsidized
Grants
FREE
Need
But money will go to those who apply first
FAFSA/TASFA
NOW!

19. Defining Financial Aid
What?
Free/Pay Back?
Merit/Need?
How?
When?
Scholarships
FREE
But student must meet requirements
Apply!
Check my website for scholarships and search engines.
NOW!
Both Merit
and Need
Private
Institutional
Loans
Pay Back
Neither – almost anyone can get these loans
FAFSA
NOW!
Subsidized
Unsubsidized
Grants
FREE
Need
But money will go to those who apply first
FAFSA/TASFA
NOW!
Work-Study
Neither, you work for it!
Combination
FAFSA
NOW!

20. FAFSA - Free Application for Federal Student Aid
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)
List all schools you have applied to
Never pay ANYTHING to file the FAFSA

22. Login Page
This is the “Login” page. Because the FAFSA is ALWAYS the student’s application (rather than the parent’s), the student inputs his or her information first. The personal identifying information entered here will form the record locators within the FAFSA database.

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

24. What do you need to fill out the FAFSA/TASFA?
1. Student State 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)

25. IMPORTANT FACTS Don’t leave any fields blank!
Use your legal name – Not your nickname
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
Investments. 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
Highest Education Completed. 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.

26. Supplementary Letter
Use the Supplementary Letter to Explain Extenuating Circumstances
Loss of job
High medical bills
You must provide documentation to support this letter

27. Selective Service
“A young man who fails to register with Selective Service may be ineligible for opportunities that may be important to his future. He must register to be eligible for federal student financial aid, state- funded student financial aid in many states, most federal employment, some state employment, security clearance for contractors, job training under the Workforce Investment Act, and U.S. citizenship for immigrant men.”
“Failing to register or comply with the Military Selective Service Act is a felony punishable by a fine of up to $250,000 or a prison term of up to five years, or a combination of both.”

28. 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

29. Questions???

30. Senior Information

31. Project Graduation Right after graduation – Friday, May 25, 2018
YMCA of Austin - East Communities
Friday, May 25 - Saturday, May 26
Details to come soon!
Laura DiCarlo – LASA Parent

32. Graduation Ceremony Friday, May 25 7:00 p.m. Doors Open at 6:30 p.m.
Seniors must arrive at 5:15 p.m.
Location:
St. James Baptist Church 
3417 E. Martin Luther King Jr. Blvd.
Austin, Texas  78721

33. Graduation Practice Mandatory! Seniors and Participants Only
Thursday, May 24 
2 p.m. - 5 p.m.
St. James Baptist Church

34. Upcoming Cap, Gown, & Senior Items by Herff Jones
Presentation to Seniors: During Senior Meeting on 10/26
Order Days - 11/10 & 10/17
Turn in Baby/Childhood/Youth pictures for the Graduate Slide Show by December 13.

35. Questions???