1. Alden HS Financial Aid Presentation
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Alden HS Financial Aid Presentation
Daniel M. Tramuta
Associate Vice President for Enrollment Services
New York State Financial Aid Administrators Association (NYSFAAA) - Past President
Eastern Association of State Financial Aid Administrators (EASFAA) - State Rep
State University of New York at Fredonia

2. Overview of Higher Education Landscape Challenges & Opportunities
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Overview of Higher Education Landscape Challenges & Opportunities
Demographics
Decline in HS Graduates out to 2022
Selectivity Matrix
Program Demand
Retention
Merit-Based Arms Race
Scholarship – increased tuition discounting to find price point
Cost & Affordability
Debt at Graduation
Return on Investment
New Academic Programs
Growth in STEM Programs

3. Projected change in the number of high school graduates 2010 to 2019
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Projected change in the number of high school graduates 2010 to 2019

4. Factors Most Noted in Choosing & Staying at a College
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Factors Most Noted in Choosing & Staying at a College
Majors & Career Programs Offered
Cost/Affordability
Location/Campus Characteristics/Faith Support
Campus Size/Safety
Characteristics of Enrolled Students
Selectivity

5. 2014 Undergraduate Degree Demand – ACT Test Takers
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
2014 Undergraduate Degree Demand – ACT Test Takers

6. The Financial Aid Funnel - How & When to Apply?
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
The Financial Aid Funnel - How & When to Apply?
Apply for Admission (Fall of Senior Year)
Collect documents
Create a FSA ID & Password at
Fill out the FAFSA on the Web Worksheet (Do Not Mail this Worksheet) (Dec.)
Complete FAFSA online at in January 2016 (Estimate the information)
Print the confirmation page
Use the corresponding state scholarship link on the FAFSA Confirmation Page to apply for TAP
Keep records

7. Create a FSA ID & Password Prior to Completing the FAFSA
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT

8. ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Should I pay someone to help me find or apply for student financial aid?
FREE help is available
Make sure you are not paying for free information
Know what you are getting for your money
Need more info:
FEDAID

9. What Makes up a Financial Aid Package?
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
What Makes up a Financial Aid Package?

10. Sources of Financial Assistance
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Sources of Financial Assistance

11. ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Federal & State Grants
Grant Programs
PELL Grant
Must have a FAFSA calculated EFC between $0 – $5,199
Max. Award: $5,775 T
NYS TAP Grant TAP Grant
Based on NYS net taxable income
NY Net Income ceiling is $80,000
Max. Award: $5,165

12. ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Federal Work Study
Federal Work Study
Based on financial need
Earnings based on NYS minimum wage scale
Traditionally on-campus employment
Usually 6 to 10 hours per week

13. ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Federal Stafford Loan
Subsidized
4.29%
Capped at 8.25%
Based on need
Federal government
pays interest while student is in school
$3,500 for freshmen
Maximum Direct Loans for freshmen: $5,500
Unsubsidized
4.29%
Capped at 8.25%
Not based on financial need

14. ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
FASTWEB.COM
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Fastweb recently matched you to these new scholarships! Apply today, so you don't miss out!
That was easy–you didn't even have to search!
Check out your new scholarships:
Kelly Tanabella Music Theatre Scholarship (Amount: $4,000) Log in to see the rest of your personalized scholarship matches: What do I do now? You're never going to win scholarships if you don't apply. Simply choose one of the scholarships on your matches list, read through the detailed info and click on the scholarship provider's website to find out how to apply. Why was I matched to these scholarships? We matched you to these scholarships because of the info you have in your profile. If these scholarships aren't what you had in mind, you have the power to make them better. Update your profile by filling out as much as possible and keep your info current. That way, we'll find better, more personalized scholarship matches for you.

15. Appeals Based on Unusual Circumstances
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Appeals Based on Unusual Circumstances
Loss of Income, e.g. in academic year , loss of Income in 2015 vs 2014
Medical/Dental expenses NOT PAID by insurance
Death, separation, divorce......
1-Time Fluctuation in Income
Elementary/Secondary Private School Tuition Expenses
Follow the procedures of the Financial Aid Office where student is attending.

16. Using Prior-Prior Year Tax Income Data on the 2017-18 FAFSA
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Using Prior-Prior Year Tax Income Data on the FAFSA
The Free Application for Federal Student Aid (FAFSA) becomes available every January 1, and currently requires a family's tax information from one year prior. Families are encouraged to file the FAFSA as soon as possible to maximize their odds of receiving financial aid. But with tax deadlines months later, most have to estimate their tax information on aid applications and make corrections later. In the worst case scenario, some families miss out on financial aid funds that are disbursed on a first-come basis.
Education Secretary Arne Duncan enacted a change this past Sunday that would fix this widespread issue. By using income from two years ago, otherwise known as prior-prior year (PPY) tax income data, families could file the FAFSA with tax information they already have, making the process quicker and easier. By taking advantage of the existing ability to import tax information directly from the IRS onto the FAFSA form, families will spend less time gathering paperwork and would make far fewer errors.
The use of prior-prior year income also presents an opportunity to align admissions and financial aid decisions and give millions of families more time to plan for actual college costs, rather than sticker prices or projections. Low-income families experience very little income fluctuation from year to year and most would not see a significant change in their eligibility for a Pell Grant with a switch to prior-prior year income.
Prior-prior year income is the closest thing we have to a "silver bullet" for an industry in search of meaningful solutions. With earlier aid awards, financial aid administrators would have more time to help families evaluate their options and make informed financial decisions.

17. Using Prior-Prior Year Tax Income Data on the 2017-18 FAFSA
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
With the switch to PPY, students and families will be able to:
File the FAFSA earlier. As you know, the FAFSA is made available January 1 of each calendar year, yet it is uncommon for a family or individual to be prepared to file an income tax return in the month of January. Under the new PPY system, the FAFSA will be available in October 2016, rather than January 1, 2017, and students can use the PPY’s completed income tax return.
More easily submit a FAFSA. The IRS Data Retrieval Tool (DRT), which allows automatic population of a student’s FAFSA with tax return data and decreases the need for additional documentation, can be used by millions more students and families under PPY, since tax data from two-years prior would be readily available upon application.
Receive earlier notification of financial aid packages. If students apply for aid earlier, colleges can in turn provide financial aid notifications to students earlier, ensuring that students and families have more time to prepare for college costs. Notifying students earlier of their financial aid packages will also leave more time for one-on-one counseling with students and families. 
* Next year’s ( ) aid applicants will be using the same prior year federal income (2015) for two consecutive years

18. Using Prior-Prior Year Tax Income Data on the 2017-18 FAFSA
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Using Prior-Prior Year Tax Income Data on the FAFSA ​
Forwarded message From: Common App Member Support Date: Thu, Dec 3, 2015 at 5:38 PM Subject: Ticket # : Re: Enhance the Applicant Experience To:
That is correct! Juniors can create a Common App and their information will be carried over till next year.
Original Message
From: Dan Tramuta Received on: 12/03/ :22 PM EST Subject: Re: Enhance the Applicant Experience Good evening, I have been traveling the state speaking to high school juniors and school counselors about Prior-Prior Year kicking in with the 1718 FAFSA which means they can start completing their FAFSA on October 1st (instead of January 1st) of their senior year. I read in a blog that juniors can start their Common App now and roll it over to their senior year, is this true? Daniel M. Tramuta Associate Vice President for Enrollment Services

19. SUNY Statewide Student Financial Aid Days
ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Saturday, January 16, 2016
Saturday, February 20, 2016
Ask questions about the financial aid application(s), types of aid available and the actual awarding process
Most campuses will offer web access and personal assistance to complete FAFSA’s online
Register at in early December 2015

20. ALDEN HIGH SCHOOL FINANCIAL AID NIGHT
Questions?