1. Student Financial Aid Funding the Journey
Kent State University at Ashtabula
3300 Lake Road West

2. Overview Application Process Awarding Process Calculating Cost
Types of Financial Aid
Upcoming Events

3. APPLICATION PROCESS

4. Free Application for Federal Student Aid (FAFSA) Worksheet
Presents questions in similar order as FAFSA on the Web
DO NOT MAIL – not the actual FAFSA application
Can obtain at studentaid.ed.gov
The FAFSA is the free federal application to apply for federal grants, state grants and federal loans. The worksheet is used to help give you an insight on the questions that on actually on the FAFSA on the Web application. Please DO NOT MAIL in the worksheet.

5. Register for your FSA ID
User ID and password
Both parent and student need to apply for a FSA ID to sign the FAFSA
You can link your PIN to your FSA ID to be able to use it immediately
FSA ID passwords need to be changed every 18 months
For help visit: StudentAid.gov/fsaid
Register for your FSA ID
The FSA ID – a username and password- has replaced the Federal Student Aid PIN and must be used to log in to certain U.S. Department of Education websites. Your FSA ID confirms your identify when you access your financial aid information and electronically sign Federal Student documents. If you do not already have an FSA ID, you can create one when logging in to fafsa.gov. Tip: Important: only the owner of the FSA ID should create and use the account. Never share your FSA ID.

6. Free Application for Federal Student Aid
Free Federal Application to apply for federal grants, state grants and federal loans.

7. FAFSA on the Web Guidelines
Submit the FAFSA as soon as possible after January 1st. Complete the FAFSA every year
The FAFSA will use 2015 W2 and federal tax information
Use IRS DATA Retrieval Tool
It is OK to use estimated income information
Check priority deadlines at every school you are considering. March 1 is the common date.

8. What are assets? Other real estate, installment and land contracts
Cash, savings, and checking accounts
Other real estate, installment and land contracts
Mutual funds, money market funds, CDs
Stocks and stock options
Bonds, commodities and precious metals
UTMA and UGMA accounts

9. What are NOT assets?
Retirement accounts (IRAs - non-education, 401K, 403B)
The home you live in
Cash value of life insurance policies
Family farm
Family owned and controlled small businesses (100 or fewer fulltime employees)

10. and Prepaid Tuition Plans
529 College Savings Plans
and Prepaid Tuition Plans
Treated same as mutual funds, CD’s and other investments
If the student is dependent (for financial
aid purposes) the 529 plan is a parent asset
In most cases, this plan is set up through the institutions billing office.

11. Avoid Errors!! Read instructions and complete all sections carefully
Errors on the FAFSA or supplemental forms may delay application processing and result in loss of financial aid funds

12. Frequent FAFSA errors Social Security numbers/dates of birth
Divorced/remarried parental information
Income earned by parents/stepparents
US income taxes paid

13. Confirmation Page Now includes access to Social Media:
Applicants using FAFSA on the Web will have the opportunity to update Facebook and Twitter after they have completed the FAFSA.
The “Confirmation” page will have:
A Facebook “Share” button
A Twitter “Tweet” button
A prefilled message included in the language in which the user is viewing the Web site (English or Spanish).
The Dept. of Education has added a new aspect to the confirmation page that allows students to use social media. The message will be prefilled.

14. Confirmation Page
Facebook and Twitter

15. Example Twitter messaging Example Facebook message

16. Change of Circumstance
If you experience a loss of income due to:
Unemployment
Separation, divorce or death of spouse/parent
Loss of untaxed income (i.e. child support)
If you have expenses related to:
Parent in college
Excessive medical or dental expenses
Elementary or secondary tuition expenses for children other than the student who is attending college
Contact your college or university to discuss your situation.

17. AWARDING PROCESS

18. College receives electronic copy of FAFSA
Dept. of Education
FAFSA on the Web
College receives electronic copy of FAFSA
Student receives eSAR

19. Student Aid Report
Summarizes the information submitted on your FAFSA
Provides “What Happens Next” session
List Expected Family Contribution.
Will list any corrections that must be fixed.
Student must provide an on the FAFSA to receive the SAR as an . If no is submitted, SAR will be mailed. If corrections are required EFC may not be listed.

20. What is the EFC? Is an Index number and not a dollar amount
Determines if student is eligible for federal or state grants
Number must be between for the federal pell grant (based on full time enrollment)
State grant amounts may differ based on type of university (public vs. private)
Does not affect federal student loan eligibility

21. College processes FAFSA information
College receives electronic copy of FAFSA
College s or mail the initial award letter to student

22. Calculating Cost

23. Cost of Attendance -Expected Family Contribution = Financial Need
Determination of Need
Cost of Attendance -Expected Family Contribution = Financial Need

24. Defining Financial Need
Cost of Attendance (COA)
Tuition and Fees
Books
Room and Board
Transportation
Personal Expenses
Expected Family Contribution (EFC)
A measure of the family’s capacity over time to absorb the educational costs

25. Need Varies Based on Cost
Cost of Expected Family = Need
Attendance Contribution
(Variable) (Constant) (Variable)

26. Types of Financial Aid

27. Two Types of Aid Gift Aid Self Help Aid Scholarships Grants
Work Programs
Loans

28. Scholarships Hints & Tips Start Early Make a Search Plan
Talk with Counselors, Teachers, Neighbors and Relatives
Complete Every Application Carefully
Be Aware of Deadlines

29. Scholarships Look Everywhere Business and Industry
Faith Based Organizations
Parents Employment
State Grant and Scholarship Agencies
University Website

30. Popular websites www.fastweb.com studentawards.com scholarships.com

31. Grants studentaid.ed.gov Pell Grant
Supplemental Educational Opportunity Grant (FSEOG)
Teacher Education Assistance for College and Higher Education Grant (TEACH)
Ohio College Opportunity Grant (OCOG)
studentaid.ed.gov
Amounts and criteria are listed in the publications handed to you or you can visit studentaid.ed.gov

32. Work Programs studentaid.ed.gov Federal Work Study
Student can work part time while enrolled in school
University Funded Work
May be available to students not awarded work study
studentaid.ed.gov
May want to check with your institutions Career Services Center

33. Loans studentaid.ed.gov Federal Student Loans
Federal Direct Stafford Loan
Subsidized & Unsubsidized
Federal Nursing
studentaid.ed.gov
Amounts and interest rates are listed in the handouts provided or you can visit studentaid.gov

34. Loans studentaid.ed.gov Federal Parent Loan Alternative loans
Federal Direct Parent PLUS
Alternative loans
Non federal
Student loan through a bank, credit union, state agency or school.
studentaid.ed.gov

35. Financial Aid Helpful Websites
Studentaid.ed.gov
Provides general information and overall process for financial aid
Provides checklists for students and parents
Financial and demographic snapshot of institutions
Information to assist parents with financial aid process
Can order FAFSA worksheet and application

36. Federal Aid Social Media Websites
Facebook
Twitter
YouTube
You can like their page on Facebook, follow them on twitter and watch them on YouTube. Obtain great information from the Dept. of Ed regarding financial aid.

37. Review Apply for admission
Apply for FSA ID and complete the FAFSA as soon as possible after January 1st
Investigate other sources of aid
Review award letters and figure out your cost
Complete and submit all required documents

38. Upcoming Events

39. Upcoming Events FAFSA Information Night Lakeside High School
Thursday, November 19, 2015 at 5:00 p.m.
Saints John & Paul High School
Wednesday, December 2, 2015 at 6:30 p.m.

40. Contact Info
Kristy Call
Financial Aid Coordinator
Lisa Jackson
Financial Aid Counselor
Telephone:
(440)