1. At Carmel High School January 21, 2016
Financial Aid Night
At Carmel High School
January 21, 2016

2. Welcome CHS Parents and Students!
Tonight’s Agenda:
CHS financial aid and scholarship resources
Upcoming events related to financial aid and scholarships
Local scholarship opportunities-- Paul McCarthy, Scholarship Chairman, Carmel Education Foundation (CEF)
Understanding the Financial Aid Process-- Leslie Middleton, Associate Director of Financial Aid, Butler University

3. CHS Financial Aid and Scholarship Resources
CHS Counselors and CCRC College Advisors can help!
CHS Counseling Website—find information and links to reputable financial aid and scholarship sources
CHS College & Career Resource Center Programming Events
Family Connection Scholarship List and Scholarship Search
Scholarship Wall – located in the counseling office
Carmel Education Foundation (CEF) Scholarships
Social Media: Facebook & Twitter— Like us on Facebook at “Carmel High School College Counseling” AND Follow us on Twitter @CHSCollege411 or

4. Upcoming Financial Aid Events
FAFSA Completion Workshop: Tuesday, February 2nd 10:00 a.m.-1:00 p.m. & 3:00-7:00 p.m. CHS Media Center Get help completing your FAFSA no matter where you are in the process. Ask Questions and get answers from ISM College Planning Representatives
College Goal Sunday: Sunday, February 21st 2:00- 4:00 p.m. Various Sites throughout Central Indiana Closest site to CHS is Westfield High School. Get help completing your FAFSA from financial aid professionals. This is a state-wide event, and more information can be found at:

5. Paul McCarthy, Scholarship Chairman, Carmel Education Foundation (CEF)
www1.ccs.k12.in.us/foundation/Scholarships
Application Deadline: March 11, 2016

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

8. Partnerships

9. 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:
January 1, 2016 to March 1, 2016 for academic year
Starting October 1, 2016 for academic year
Application must be completed for each academic year
Institutional Aid Application or the CSS PROFILE
Check with each school for required applications

10. 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

11. 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 + +

12. 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

13. 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

14. Financial Aid Offer May be sent via mail, email and/or portal
Includes all Federal, State and Institutional Aid
Financial aid offers are sent around March

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

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

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

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

19. 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

20. 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

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

22. fafsa.gov
For the academic year complete the FAFSA between January 1 and March 1.

23. FAFSA Changes for 2017-18 Submit a FAFSA Earlier
Starting October 1, 2016 (rather than January 1, 2017)
Use Earlier Income Information
Report income from earlier tax year.
FAFSA will use 2015 income (rather than 2016)
These changes are permanent.

24. fsaid.ed.gov Replaced the PIN (4-digit number)
New FSA ID is a 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.
If you have a PIN, use it to create new FSA ID.

25. What you need Social Security Card
Student & Parent’s Earned & Untaxed Income
For FAFSA, use 2015 income
For FAFSA, use 2015 income
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

26. Investments include: Real estate (not the home you live in)
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

27. Investments do not includE:
The home you live in
Life insurance policies
Retirement plans
401(K), non-education IRAs, Keogh, pension plans, annuities, 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

28. 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

29. Who’s my parent(S) for the FAFSA?

30. 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

31. FAFSA – Student Demographic Information
Fill in all blanks
Refer to “Help and Hints” for guidance
Highly recommend providing
Fields populate next year when doing renewal FAFSA

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

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

34. 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

35. 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”

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

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

38. FAFSA – Parent Tax Information
Already completed
Will file
Not going to file

39. FAFSA – Parent Tax Information
Use the IRS Data Retrieval (IDR) Tool whenever possible
Available approximately 2-3 weeks after electronic filing
All answers must be “No” to use retrieval tool
Must have parent FSA ID to link

40. 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

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

42. 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

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

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

45. 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

46. 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 March 10
For consideration of state aid
FAFSA Help
Federal Student Aid provides free help online at and FED-AID
Contact the financial aid office where you are applying

47. Financial Aid References
College Board - collegeboard.org Financial aid information - finaid.org The internet’s largest free scholarship search - fastweb.com FAFSA on the Web - fafsa.gov U.S. Department of Education – studentaid.ed.gov