1. Welcome to QECHS FAFSA Night

2. The Cost of A College Education

3. FAFSA fundamentals

4. Paying for college No matter who you are, you CAN go to college
College is an investment in your future
Many forms of financial aid are available to help you pay for your education
It’s important to remember that if you want to go to college there are many options to help you achieve that goal
When I say ‘college’, I’m referring to any type of education past high school, such as two-year colleges, four-year universities, technology centers or trade schools
Some of the benefits of a college education are higher salaries, better benefits and increased job security
Financial aid is available for everyone; the end of this presentation will discuss the types of aid you may qualify to receive

5. What’s Financial Aid? Money used to help you pay for college
Comes in the form of grants, work programs, student loans and scholarships
All students are eligible for some type of financial assistance for college
Apply for this money every year you need financial aid for educational expenses
Financial aid can help with various educational costs such as tuition, fees, books, room and board, and transportation
Your aid can also assist with expenses like daycare and purchasing a computer

6. Free Application for Federal Student Aid
How Do I Apply?
Free Application for
Federal Student Aid
The FAFSA is your first step
Use it to apply for most types of federal and state aid
By completing the FAFSA, you’ll be applying for most types of federal and state financial aid

7. FAFSA.gov
Here’s a screen shot of the FAFSA.gov home page where you start completing the FAFSA application online
Remember to use FAFSA.gov, the official government website
You should never pay to complete the FAFSA

8. Why Online? Faster processing time
Save your application and return to it later
Help and Hints suggestion boxes are provided to assist with questions
Built-in error catcher means fewer delays
Electronically sign using your FSA ID (Federal Student Aid Identification)
Online is the easiest and most efficient way to complete the FAFSA
Online processing time is approximately 3-5 days, while a paper application may take much longer
The online process provides Help and Hints suggestion boxes to assist you with questions, and includes built-in edits to help prevent errors
If you file online, next year you’ll be able to complete a renewal FAFSA with some answers already pre-populated with your information
The FSA ID will be used as your electronic signature for the online FAFSA
Student and parent (or spouse) will need one

9. What’s an FSA ID?
Allows the student and parent to electronically sign their FAFSA online and expedite the process
Request an FSA ID (Federal Student Aid Identification) from FAFSA.gov
Student and one parent must each have an FSA ID
The FSA ID allows you to sign your FAFSA electronically
If student is married, his/her spouse will be required to create an FSA ID
It also can be used to sign student loan applications and access financial aid information
The FAFSA may be completed before the FSA ID has been fully approved

10. Getting an FSA ID
Create an FSA ID by visiting FAFSA.gov and clicking FSA ID
You may also access the FSA ID registration page by visiting

11. This screen shot shows some of the information requested to create your FSA ID
FSA ID approval is typically sent to you electronically within 24 hours of your request, however you may start your FAFSA before approval has been sent
Keep your FSA ID in a safe place; you’ll use it next year when you complete the FAFSA application
Student and parent must have different addresses in order to create an FSA ID

12. More FSA ID information requested

13. You will answer challenge questions and set up 2 of your own to create the FSA ID
Pick a memorable date in history you can use for the set-up process

14. Save key The Save Key is another step in setting up your FSA ID
All of this is done to keep your information secure

15. FAFSA process

16. FAFSA sections Login Student Demographics School Selection
Dependency Status
Parent Demographics
Financial Information
Sign and Submit
Confirmation
Each section of the FAFSA requires specific information about the student and the parents, such as demographic and financial data

17. FAFSA Login
As you begin, you’ll be asked to log in with your FSA ID

18. If you choose to enter the student’s information, you’ll enter name, date of birth and Social Security number

19. FAFSA
Be sure to choose the ‘ FAFSA’ if you plan to attend school beginning in the fall of 2016
If you will begin school in the summer of 2016, check with the school you plan to attend to get their specific requirements on the FAFSA

20. Student Demographics
Use your full name as shown on your Social Security card
Enter your marital status as of the day you submit your FAFSA
Help and Hints suggestion boxes are provided for assistance
Your name and date of birth must match what’s shown on your Social Security card or your FAFSA will be rejected
The FAFSA Processing Center will conduct a match between your name, date of birth and SSN with the Social Security Administration
Even if you plan to be married by the time you start college in the fall, you must enter your marital status as of the day you actually submit your FAFSA
Help and Hints suggestion boxes are provided to offer a detailed explanation of most questions

21. Selective service
Eighteen year old males must register with Selective Service in order to receive financial aid
You can elect to register here on your FAFSA
If you’re an 18 year-old male and haven’t signed up for Selective Service, you may do so on your FAFSA application
Males who have not registered with Selective Service will not qualify for financial aid
If you’re only 17 now, go ahead and check ‘Register Me’; your information will be submitted on your 18th birthday
Students will be asked to show their high school completion status, for example:
High School Diploma
GED Certificate or State Authorized High School Equivalent Certificate
Homeschooled
None of the above

22. High school name Search for high school by name, city or state
If you have a high school diploma, you must include
the school from
which you
graduated
Students are required to indicate the high school from which they will graduate
If your high school doesn’t appear when you search by school name, you can also search by city and state
If you indicate you have a high school diploma, you will be required to include the school’s name from which you graduated
Students who are home schooled or received a GED will not see this page

23. College Selection You can send your FAFSA to 10 different colleges
You can search for colleges by name, city or state or the Federal School Code
We searched here on Stillwater, OK
The School Selection area allows you to send your FAFSA results to 10 different schools
Each school has a 6-digit code number; if you don’t know the school’s number, you may do a search here by school name, city or state
We searched on Stillwater, OK; click on the box next to the school name and have your FAFSA results sent there
Currently Meridian Technology Center and OSU-Stillwater will be getting our FAFSA information

24. College Selection A search was done on East Central University
Click View Selected School Information to get a comparison of your choices
The next search was done on East Central in Oklahoma
That pulled up East Central University in Ada
ECU was clicked and it was added to our 2 schools from the previous slide
Now these 3 schools will receive our FAFSA results
Click ‘View Selected School Information’ to find various data on the schools you’ve selected

25. School comparison
This page provides information about the 3 schools you’ve chosen to receive your FAFSA results
You will find the cost for tuition and fees, the graduation rate, retention rate and much more
You will also be able to link directly to each school’s website from here

26. Housing plans Provide Housing Plans for each school you’ve
chosen to receive
your FAFSA results
Your options:
On campus
Off campus
With parents
You must provide your housing plans for each school receiving your FAFSA results
Be aware that schools without on-campus housing will still list that option here
The Financial Aid office at the school(s) will use your housing plans to help determine the amount of financial aid you may be awarded

27. Dependent or independent?
Your answers to these questions will determine your dependency status
If you’re unable to answer YES to one of these questions, you’ll be considered a Dependent Student
Your answers to these questions will determine your dependency status on the FAFSA
If you can answer YES to one question, you’ll be considered an independent student; independent students do not have to provide parent information on their FAFSA
If not, you’re considered a dependent student and must provide parental information on your FAFSA
Independent students who are married must also show spousal information

28. Dependency status
Dependent students must provide parental information on the FAFSA
Independent students aren’t required to show parental information unless requested by their school

29. Special circumstances
If there’s a special circumstance prohibiting you from providing parental information, it’s highly recommended you speak to the Financial Aid office at the school you’ll attend
Many schools have specific procedures they follow to handle this question
Please note: If you’re a dependent student and unable to provide parental information, indicate that here. It’s highly recommended that you speak to the Financial Aid office at the college(s) you’ll attend however. Most schools have specific procedures they follow to handle this question.

30. Special circumstances (CONTINUED)
If you state you’re unable to provide parental information, read this page carefully to make sure you’re eligible to qualify
The school you plan to attend will require documentation to verify your statements

31. Special circumstances
Students that do NOT have a special circumstance and are unable to provide parental information typically qualify for the Unsubsidized Student Loan only.
If students are unable to provide parental information, but do not have a legitimate circumstance as deemed by the financial aid office, they may be limited on the type(s) of financial assistance they’re eligible to receive

32. Special circumstances
Change in employment status
Unusual medical expenses not covered by insurance
Change in parent marital status
Unusual dependent care expenses
Distinct circumstances in relation to obtaining parental information
Here’s a list of additional special circumstances that you or your parent may be facing
Speak with your financial aid officer if you have any specific questions

33. Who is the parent?
Student’s biological and/or adoptive parents, or a person that the state has determined to be a student’s parent, are considered his or her legal parents.
Grandparents, foster parents, legal guardians, older brothers or sisters, and aunts and uncles are NOT considered parents unless they have legally adopted the student.
Families should read this information carefully when determining who should be considered the ‘parent’ on their FAFSA

34. Reporting Parent information
If your parents (biological and/or adoptive) are legally separated or divorced – Use information about the parent you lived with most during the last 12 months
If you lived with both parents equally – Use information for the parent who provided you the most financial support in the last 12 months
If your divorced parent is remarried – Use information for your parent and step-parent
Students must report information for both biological or adoptive parents if they are unmarried, but living together
As you indicate your parents’ marital status, review these tips regarding whose financial information to include on the FAFSA
If both legal parents live together, but aren’t married, they must still report BOTH incomes on the FAFSA

35. Parent demographics
Parent will enter first initial and last name as shown on their Social Security card
Name and date of birth will be verified with the Social Security Administration
Click the Household Size link to learn who can be included
Parent(s) must provide the first initial of their full first name and date of birth as shown on their Social Security card
If parent(s) is undocumented or not a U.S. citizen, they may enter zeros for the Social Security number
On this slide we’re featuring legal parents who are Married
The applicant will provide information about the Father/Stepfather and Mother/Stepmother
Parent(s) should click the Household Size button to see who may be included in this count

36. Defining the household
Include:
Student’s parents, or parent and stepparent, based on their marital status
Student, even if he or she does not live with parents
Parents’ other children if:
Parents will provide more than half of their support from July 1, 2016 through June 30, 2017 or
These children can answer “No” to every dependency status question on the FAFSA
Other people:
If they now live with the parents
Parents provide more than half of their support, and
Parents will continue to provide more than half of their support from July 1, 2016 through June 30, 2017
This slide provides instructions on who may be counted in the Household Size

37. Parent income Parent can choose a tax filing status:
Already completed
Will file
Not going to file
If parent ‘Already completed’ the taxes, they’re given the option to manually enter the tax figures or download the info from the IRS. This feature is not available until February 1.
If you haven’t filed your taxes, you may estimate the information from your 2014 tax return or from your December pay stub, if applicable
This will allow you to submit your FAFSA and meet deadlines set by your school or the Oklahoma Tuition Aid Grant, which is March 1 (This will be discussed later in this presentation)
If you’ve already filed your taxes, you may enter the figures manually or use the IRS Data Retrieval Tool

38. Irs data retrieval IRS can send tax data online directly to your FAFSA
Scheduled for use February 1 for the FAFSA processing cycle
Electronically filed tax information will be available 3 weeks after the return has been accepted by the IRS
Participation is voluntary
Reduces documents requested by financial aid office
IRS Data Retrieval information

39. This screen requires you to verify that you’re the student or parent trying to access IRS tax information
You must provide general demographic data as well as your filing status on the return
Be sure to provide the EXACT address as shown on your tax return
Spell out Street or use St., depending on how it’s shown on your return, for example

40. After you’ve been allowed into the IRS website, you’ll see the option for your tax information to be transferred
You just click at the bottom of the page to ‘Transfer My Tax Information into the FAFSA’
A confirmation will follow

41. Parent Income Adjusted Gross Income Income Earned from Work
Federal Benefits Programs
Income Tax
Exemptions
If you choose to manually enter your tax information, the FAFSA questions will include the tax return’s line number to locate the answer

42. Parent Income Education credits Child support paid Combat pay
Untaxed Income
Child Support Received
Housing, food, living allowances
Tax exempt interest
Payments to tax-deferred pension and retirement savings plans
Veterans non-education benefits
This page requires information on any untaxed income or parental assets

43. Student income
Students are also asked to provide the type of tax return they filed as well as their income earned and taxes paid
Students can indicate if they’ve filed their taxes, if they will file, or if they won’t file at all
Students also have to option to use the IRS Data Retrieval Tool to download their tax information from the IRS
Even if you aren’t required to file a tax return because you didn’t make much money last year, you are required to report your income on the FAFSA
The Help and Hints suggestion box on the right side will provide the corresponding line numbers on the return for each question

44. Sign and submit Review or print a copy of your FAFSA answers here
Make necessary changes now before submitting your application
Student and Parent enter their FSA ID to electronically sign the FAFSA
Click ‘View or Print Your FAFSA Information’ to review all of your answers for accuracy before the FAFSA is submitted
Student and parent will enter their FSA ID information to electronically sign their FAFSA application
Don’t forget to hit ‘Submit My FAFSA Now’ when you’re done

45. Confirmation page
The Confirmation page provides an estimate of your eligibility for the Pell Grant and student loans
It also provides your Expected Family Contribution (EFC)
After you hit ‘Submit My FAFSA Now’ you’ll receive a Confirmation Page
You will see an estimate of your eligibility for the Pell Grant and Federal student loans
You will also see an estimate of your Expected Family Contribution, or EFC

46. After the FAFSA

47. After FAFSA submission
You will be notified when your FAFSA is processed
Your FAFSA information will be made available to your school(s), and they will use it to determine the aid you may be eligible to receive
Your school(s) will contact you if they need more information or when they are ready to discuss your financial aid award
If you have questions about your financial aid award, contact your school(s)
If you file your FAFSA online, it takes about 3-5 days to have it processed; after that time it’s forwarded on to the school(s) you’ve chosen to receive your FAFSA data
Paper FAFSAs will take considerably longer to be processed and received by your schools
You will be notified when your FAFSA information has been submitted to the school(s) of your choice

48. Student aid report (SAR)
Summarizes your FAFSA information
Available to you after your FAFSA is processed
Review the SAR for accuracy
The schools listed on your FAFSA will also receive a summary
A Student Aid Report (SAR) is a summary of the information you provided on the FAFSA
It will be sent to you electronically or via paper, depending on how you filed your FAFSA application
Review the SAR for any errors

49. Making corrections
If necessary, corrections to the FAFSA may be made by:
Accessing your FAFSA information at if student has an FSA ID;
Updating items on the paper SAR; or
Submitting documentation to the college’s Financial Aid office
Corrections to your FAFSA information can be made a number of ways
All changes made will be forwarded to the school(s) you’ve chosen to receive your FAFSA results

50. Cost of Attendance
An estimate of the total educational expenses for a specific enrollment period
Includes average tuition, fees, books and supplies, room and board, transportation and miscellaneous expenses at an individual school
Cost of Attendance, or COA, may be different at each school
When the Financial Aid office begins to determine your aid eligibility, they will assign you a cost of attendance
The Cost of Attendance, or COA, is an estimate of the educational expenses for a particular school
The COA includes average expenses such as tuition, fees, books and living costs
The COA will probably be different at each school you’ve selected to receive your FAFSA results

51. Expected family contribution
The Expected Family Contribution, or EFC, is calculated from the information provided on your FAFSA, such as income, assets and family size
Comprised of two components
Parent contribution
Student contribution
Same amount at every college
The Expected Family Contribution, or EFC, is a number calculated from your FAFSA information
Financial Aid offices use the EFC to determine a student’s eligibility for federal and state aid programs
Your EFC will remain the same no matter which school you attend

52. Financial need
The difference between the Cost of Attendance (COA) and the Expected Family Contribution (EFC)
School determines financial need based on data from your FAFSA
Financial aid is awarded based on your financial need
Financial need is determined by your school’s Financial Aid office
They subtract your EFC and any Other Aid (such as an outside scholarship) from your school’s COA
The difference is your Financial Need
Financial aid is awarded based on this calculation

53. Expected Family Contribution Financial Need
Cost of Attendance
Expected Family Contribution
Financial Need
The financial need formula

54. Award letter
Award letters will be sent electronically or via paper to show your financial aid eligibility
Be sure to accept or decline the aid offered and return by any specified deadlines
Once your financial aid assessment is complete at the school(s) who received your FAFSA information, the Financial Aid office will send you an award letter that lists all the types of federal and state aid you’re eligible to receive
This letter may be sent via paper or electronically; the schools you’ve applied to will determine the process
Make sure you understand ALL financial aid you’ve been awarded
You don’t have to accept everything offered to you, especially loans, since they must be paid back with interest; this means you’d have to pay more back than what you originally borrowed
Be sure to respond to any requests by the school’s deadline

55. Federal financial aid Federal Pell Grant
$5,815 annual maximum for
Federal Supplemental Educational Opportunity Grant (FSEOG)
$4,000 annual maximum
Teacher Education Assistance for College and Higher Education Grant (TEACH)
Iraq and Afghanistan Service Grant
The next few slides will cover the federal financial aid programs
The Pell Grant and Federal Supplemental Educational Opportunity Grant are need-based grant programs for undergraduate students without a bachelor’s degree
Annual maximums are subject to change; mostly maximums were available at the time this document was completed
The TEACH Grant has some very specific requirements that its recipients must fulfill; it becomes a loan if you do not end up teaching in a required field and/or school
Please encourage students to get all the information on this program before accepting
Students who have lost a parent after 9/11/2001 in either Iraq or Afghanistan should notify the Financial Aid office at the school they plan to attend
You apply for all programs by completing the FAFSA
Not all schools participate in these programs

56. Federal financial aid Federal Work-Study (FWS)
Allows student to earn money to help pay educational expenses
Offers campus-based or community employment opportunities
Federal Work-Study is a program based on a student’s financial need; it allows students to work part-time on- or off-campus
Not all schools participate in this program

57. Federal financial aid Federal Subsidized Student Loan
$3,500/year maximum for Freshmen
Government pays interest while student is enrolled at least half-time
Federal Unsubsidized Student Loan
Additional loans available to students who qualify
Interest starts to accrue after first disbursement
Subsidized Federal loans are low interest loans offered by the government; they are awarded based on financial need and the interest is subsidized by the government while the student is enrolled at least half-time
Unsubsidized Federal loans are non-need based; the government does not pay the interest on these loans
If ineligible for a subsidized loan, the student may be eligible for an unsubsidized loan
Borrowers can pay the interest on the unsubsidized loan, or wait until they graduate or withdraw
Interest will begin to accrue on the unsubsidized loan after the first disbursement has been made and the student is responsible for all interest on this type of loan
All loans must be paid back, so borrow only what you need for school
The interest rate on both loans for is undecided at present

58. Federal financial aid Parent Loan for Undergraduate Students (PLUS)
For parents of dependent students
Parent borrower must be credit-worthy
Interest starts to accrue after first disbursement
Parents of dependent students can apply for the PLUS loan to supplement their child’s financial aid award
To qualify, the parent must be credit-worthy
Repayment begins shortly after disbursement
To be considered for this loan, the student must complete a FAFSA application
There are PLUS loans available for independent students as well; if you fall into this category, you may wish to visit with your financial aid officer for additional information

59. College Students Know Nothing About Financial Aid or Student Loans

60. New regulations for the FAFSA starting in the 2017-2018 academic year:
The FAFSA will become available for completion in October, rather than January going forward.
Students and parents will be able to complete the FAFSA using tax information from rather than 2016.
The changes will allow students to apply for aid much earlier and may receive notification from schools sooner on the financial assistance they could receive.
New regulations will be put into place for the FAFSA

61. TASFA – Texas application for state financial aid
For non-citizens who are classified as Texas residents.
If you are a foreign student or non-citizen, you may be eligible to be classified as a Texas resident for tuition purposes.

62. Hazelwood act
The Hazlewood Act is a State of Texas benefit that is run by the Texas Veterans Commission. It provides qualified Veterans, spouses, and dependent children with up to 150 hours of tuition exemption, including most fee charges, at public institutions of higher education in Texas.