1. “An investment in knowledge always pays the highest return
“An investment in knowledge always pays the highest return.” -Benjamin Franklin

2. Partnerships

3. Applications Application for Admission
May double as a scholarship application
Apply early for best opportunity
Free Application for Federal Student Aid (FAFSA)
Federal financial aid application
Apply online at fafsa.gov between October 1 and April 15 prior to the start of the academic year (10/1/2017 – 4/15/2018 for )
Note: Some school may have earlier FAFSA deadlines
Application must be completed every year
Institutional Aid Application or the CSS PROFILE
Check with each school for required applications

4. The efc – from the fafsa Calculated by the FAFSA
Score of family’s financial strength
Used to determine federal, state, and institutional aid
Ranges from 0 to 999,999

5. Cost of Attendance (COA)
Direct costs typically charged by the college:
Tuition and fees
Cost of meal plans on campus +
Cost of living in dorms +
Indirect costs that may not be charged by the college:
Allowance for
books and supplies
Allowance for
personal expenses and a few meals out
Allowance for
transportation + +

6. Financial Eligibility
Total Cost of Attendance
Expected Family Contribution (EFC)*
Financial Need
*Note: This is not the same as the student’s bill or the amount a family will actually pay for the student to attend college

7. Comparison of Need High Cost School Low Cost School Cost $50,000
$25,000
(-) EFC
(=) Need $0
*The EFC remains the same at each school

8. Financial Aid Offer May be sent via mail, email and/or portal
Includes all Federal, State, and Institutional Aid
Financial aid offers are sent as early as November and as late as April
Every school is different

9. Family responsibility (Out of Pocket Expenses)
Direct Costs
Financial Aid Offered
Out of Pocket Expenses

10. Types of Financial Aid Gift Assistance Self-Help
Institutional Gift Programs
Federal Grants
State Grants
Federal Direct Loan Program
Federal Work Study

11. Financing Options College Savings Plans Payment Plans
Federal Direct Parent PLUS Loans
Private Education Loans

12. Outside scholarships Free Online Scholarship Searches
fastweb.com
finaid.org
collegeboard.org
collegeanswer.com
High School Guidance Office
Community Foundations
Employers
Churches
Civic Organizations

13. Is this College Affordable?
A candid review of family resources is essential.
Parents –
Current income
Savings or investments
Home Equity
College Savings Plans
Student –
Summer earnings
Academic year earnings
Other resources

14. Tips & Strategies File the FAFSA Be informed
Set goals/expectations for student
Meet deadlines! Keep copies!
Keep a positive attitude
Consider all aid options
Ask for help

15. Completing the Free Application for Federal Student Aid (FAFSA)

16. fafsa.gov
For the academic year complete the FAFSA between October 1, 2017 and April 15, 2018.

17. fsaid.ed.gov Create an FSA ID - username and password.
One parent of a dependent student is required to sign the FAFSA using the FSA ID.
The student and parent must have unique addresses.
Create new FSA ID at least 3 days prior to submitting the FAFSA.

18. What you need Social Security Card
Student & Parent’s Earned & Untaxed Income
Prior-Prior Year Income Information
For FAFSA, use 2016 income
Federal income tax returns
W2 forms
Child support received and paid
Pre-taxed retirement contributions
Bank Statements & Investment Records
For assets, report current values as of the day you complete the FAFSA

19. Investments include: Real estate (not the home you live in)
Rental property
Trust funds
UGMA & UTMA accounts (owner)
Money market funds
Mutual funds
Certificates of deposit
Stocks and stock options
Bonds
Other securities, etc.
Educational savings accounts
Always report as a parent asset
Only report the net value of all investments

20. Investments do not includE:
The home you live in
Life insurance policies
Retirement plans
401(k) plans, pension funds, annuities, non-education IRAs, Keogh plans, etc.
Family farm you live on and operate
Small business you and your family own and control more than 50 percent with 100 or fewer full-time or full-time equivalent employees

21. Who’s my parent(s) for the FAFSA?
“Parent” means your legal (biological or adoptive) parent or stepparent
The following are not considered “parents” unless they have legally adopted you:
Widowed Stepparent
Grandparents
Foster Parents
Legal Guardians
Older Brothers or Sisters
Aunts or Uncles

22. Who’s my parent(S) for the FAFSA?
StudentAid.gov/fafsa-parent

23. FAFSA – Login Login with FSA ID
Name, SSN, and Birthday MUST be correct
Start FAFSA
Create a Save Key to return to FAFSA
Introduction Page

24. FAFSA – Student Demographic Information
Fill in all blanks
Refer to “Help and Hints” for guidance
Be sure to provide
Fields populate next year when doing renewal FAFSA

25. FAFSA – Student Eligibility
MUST be U.S. citizen or eligible non-citizen
Males MUST register with Selective Service; register through FAFSA

26. FAFSA – Student Eligibility continued
Enter high school information
Information entered will be matched
Select correct match

27. FAFSA – School Selection
Select colleges to send your FAFSA
Search by school name or code
May add up to 10 schools
Can view school information
Select housing plans

28. FAFSA – Dependency Determination
Must answer “yes” to one of the questions to be considered independent on the FAFSA
School may require documentation if you answer “yes”

29. FAFSA – Dependency Status Results
Dependent students provide parental information

30. FAFSA – Parent Demographics Information
Enter parents’ SSN, name, birthday
Household Size and number in college
Do NOT include parents as college students

31. FAFSA – Parent Tax Information
Already completed
Will file – shouldn’t use since 2016 tax deadline has passed
Not going to file

32. FAFSA – Parent Tax Information
Use the IRS Data Retrieval (IDR) Tool whenever possible
Must have parent FSA ID to “Link to IRS”

33. FAFSA – Parent Financial Information
Manually enter income if not eligible for IDR
“Help and Hints” will tell you what line to use from the 1040

34. FAFSA – Parent Financial Information continued
Report any additional/untaxed income
Review W2 box 12 for retirement contributions
Report assets at the bottom

35. FAFSA – Student Tax and Financial Information
Already completed
Will file
Not going to file
If not filing, the student still has to report any wages

36. FAFSA – Student Financial Information continued
Student will report any untaxed income and assets just like parent

37. FAFSA – Sign & Submit
Student & Parent both sign using the FSA ID

38. FAFSA – Confirmation Don’t forget to click “SUBMIT”
A “SAVED” application will not be processed and could result in a missed deadline
Print a copy of the confirmation page
The EFC is calculated immediately and printed on the confirmation page

39. Additional Information
Special Circumstances
If the FAFSA does not reflect your current financial situation, contact the financial aid office at each school.
Indiana Residents MUST file by April 15
For consideration of state aid
FAFSA Help
Federal Student Aid provides free help online at fafsa.gov and FED-AID
Contact the financial aid office where you are applying