1. Applying for Financial Aid 2015-2016
Presented by:
Tina Russell
Director of Financial Aid
Christopher Newport University

2. What Will You Learn At This Workshop?
What is financial aid
Types and sources of financial aid
How financial need is determined
How to apply
Answers to your individual questions

3. What is Financial Aid?
Financial aid consists of funds provided to students and families to help pay for postsecondary educational expenses.

4. Types of Financial Aid
Gift Aid - Grants or scholarships that do not need to be repaid
Self-Help Aid – Work Study money earned by the student as payment for a job on or off campus
Loans - Borrowed money to be paid back, usually with interest

5. Sources of Financial Aid
Federal government
State government
Colleges and universities
Private agencies, companies, foundations, and employers

6. Federal Student Aid Programs
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Work-Study (FWS)
Subsidized and Unsubsidized Federal Direct Student Loans (Direct Loans)
Parent PLUS Loans

7. How is Financial Need Determined?
Your college determines whether you have financial need by using this simple formula: Cost of Attendance (COA) determined by the school – Expected Family Contribution (EFC) determined by the FAFSA = Financial Need used to determine aid package

8. Types of Applications Free Application for Federal Student Aid (FAFSA)
CSS/Financial Aid PROFILE
Other applications or forms as required by the college such as:
Institutional Scholarship and/or Financial Aid Forms
2014 federal tax return transcripts, W-2 forms, or other income documentation

9. FAFSA Information & Tips
File early, beginning January 1 of each year
Meet the deadlines
Use estimated 2014 income information if taxes are not complete at time of FAFSA submission
Student and at least one parent whose information is reported must complete and sign the FAFSA

10. FAFSA on the Web (FOTW)
Internet application used by students and parents to complete electronic FAFSA at:
Sophisticated on-line edits and skip logic help avoid errors
On-line help is available for each question
Student and one custodial parent should get a federal PIN to sign FAFSA at:

11. Apply for student and parent PINs at:
Federal PIN
PIN (Personal Identification Number)
Needed to sign and access the FAFSA
Both student and one parent need PINs to sign the FAFSA electronically
May be used to:
Check on FAFSA status
Verify and correct FAFSA data
Add additional schools to receive FAFSA data
Change home and addresses
On October 1 – the Dept. of ED announced the implementation of a new log-in process expected for Spring 2015
User selected username and password to replace PIN
Apply for student and parent PINs at:

12. A Useful Form - FAFSA on the Web Worksheet
Though not a required form, the FAFSA on the Web Worksheet may:
Help some students prepare to complete the FOTW
Be used for the January 1, 2015 through June 30, 2016 federal aid application cycle

13. Getting Ready Before starting the FAFSA on the Web (FOTW), gather:
Student driver’s license
Student Alien Registration Card, if applicable
Student and Parent
Social Security numbers
2014 W-2 Forms and records of money earned and other taxable benefits
2014 federal income tax form (even if not yet completed)
Records of untaxed income
Current bank statements
Business, farm, and other real estate records
Records of stocks, bonds, and other investments
Complete FOTW Worksheet (optional)
Create a file for copies of all financial aid documents submitted

14. FAFSA on the Web (FOTW)
The FAFSA on the Web may be used for the January 1, 2015 through June 30, 2016 federal student aid application cycle

15. The FOTW A Seven-Section Online Form
Section 1 – Student Demographics Section 2 – School Selection Section 3 – Dependency Status Section 4 – Parent Demographics Section 5 – Financial Information Section 6 – Sign and Submit Section 7 – Confirmation

16. For more information on federal student aid, visit www.StudentAid.gov
Go to to complete and submit your application.
For more information on federal student aid,
visit
You can also talk with your college’s financial aid office
about other types of student aid that may be available
We have just reviewed the FAFSA on the Web (FOTW). Students and their families should complete the online FOTW at
For more information on federal student aid, visit
Students should feel free to contact the financial aid offices at the schools where they are applying for help with the application process.
There are a number of individuals who will offer to assist the student and family in completing the FAFSA. Be very cautious about paying anyone a fee to help you complete the FAFSA.
Remember, you can do it! And we are here today to provide the free assistance you need to complete the FAFSA.

17. Special Circumstances
Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as:
Loss or reduction in parent or student income or assets
Death or serious illness
Unusual medical expenses not covered by insurance
Any other unusual circumstances that affect a family’s ability to contribute to higher education
Special Circumstances
Many families have special circumstances not reflected by the questions on the FAFSA. Families are encouraged to contact the Financial Aid Office at each of the schools to which they are applying for admission and financial aid if there are significant changes in their circumstances such as:
A loss or reduction in parent or student income or assets
A death or serious illness
Natural disasters that affect parent income or assets – this is especially true for any family adversely affected by the recent California wind storms, wildfires, floods, or mudslides
Unusual medical or dental expenses not covered by insurance
Reduction in child support, Social Security benefits or other untaxed benefits
Financial responsibility for elderly grandparents, or
Any other unusual circumstances that affect a family’s ability to contribute to higher education.
If the family feels there are special circumstances that may affect their ability to contribute to college, it is important that they present their case in a way that helps the financial aid office understand their unique challenges. Some schools will provide special forms to help the family provide the appropriate new information. Families are encouraged to:
Contact the financial aid office for guidance
Write a detailed explanation of circumstances
Include student’s name, college or university ID#, and date of birth
Give specific financial details including the reasons why the circumstances affect the family’s ability to contribute
Attach supporting documentation
Send to the financial aid office at each school to which the student is applying for admission and financial aid
Each financial aid office will make its own decision about the effect the special circumstances have on a student’s need. Not all aid offices will be able to provide additional funds if there are special circumstances, but they might be able to suggest other options.

18. Application Filing Tips FAFSA on the Web
Gather necessary documents ahead of time
Complete a FAFSA on the Web available at:
Allow ample time to complete the online FOTW application for submission by the deadline
Check the FAFSA on the Web for accuracy prior to submission
Save all work periodically
Sign the application using student’s and one custodial parent’s PINs
Print and keep a copy of the FAFSA before submitting data
Print and keep a copy of the Submission Confirmation Page
Application Filing Tips
Let’s review some application filing tips for the FAFSA on the Web:
Gather necessary documents ahead of time so that completing the application is faster and easier.
Complete the FAFSA on the Web by going to
Allow ample time to complete the FAFSA for submission by published deadline(s). Don’t wait until the day the application is due. Assume that the electronic deadline is East Coast time, not California time.
Check the FOTW for accuracy prior to submission.
Save your work often. We all know how frustrating it is to work on something electronically and lose it because we have not saved it.
Sign the application using the student’s and one custodial parent’s PINs.
Print out a copy of the FOTW before submitting data electronically.
Print and keep a copy of the Submission Confirmation Page and Student Aid Report (SAR) or SAR Acknowledgement for your financial aid file.

19. Student Aid Report (SAR)
After the student completes the FAFSA on the Web, a SAR will be sent to the student
An electronic SAR Acknowledgment will be sent if student provides an address
A paper SAR will be mailed if no student
address is provided
An electronic copy of the data will be sent to each college or university listed by the student in
Keep a copy of the SAR with other financial aid documents
Student Aid Report (SAR)
Now, let’s look at the Student Aid Report.
A SAR Acknowledgment will be sent electronically if the student provides an
address on the FAFSA on the Web.
If the student does not provide a valid address, a paper SAR will be mailed to the student at the address entered on the FAFSA.
The student can make corrections on the electronic or paper SAR as well as add additional colleges that will then be sent the student’s information.
Each college or university the student lists in Section 2 on the FAFSA will receive an Institutional Student Information Report or “ISIR.” This is an electronic record of all the information the family reported on the FAFSA.
Students should make sure to keep a copy of the SAR with the rest of their financial aid documents. Private scholarship agencies may require a copy of the SAR as part of their application materials.

20. What Happens Next?
Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor ê
Students and families review SAR for important information and accuracy of data
Colleges match admission records with FAFSA and other required financial aid forms to determine aid eligibility
Colleges provide notices of financial aid eligibility to admitted students who have completed all required financial aid forms

21. Federal Verification
Some students may be required to verify the information reported on the FAFSA
If selected for verification, the tax information of federal tax filers will be verified through
The IRS Date Retrieval Process, or
IRS Tax transcripts if requested by the college or university
Non-tax filers selected for verification may be asked to provide
Non-tax Filer’s statement
Copies of W-2s or other income documentation from each employer , if any income was earned from work
Selected aid applicants will also be asked to verify certain demographic data listed such as
Household size and number in college
Child Support paid and SNAP, if reported on the FAFSA
IRS Transcripts available at:
Get Transcript of Your Tax Records

22. Summary of the Financial Aid Process
Submit all required forms, including the FAFSA, by each college’s published deadlines
Keep a copy of all forms submitted
Review the electronic Student Aid Report (SAR)
Acknowledgement or the paper SAR sent to the student
Watch for financial aid award notifications from colleges to which the student has been admitted
Be sure to apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible
ASK QUESTIONS!
Summary of the Financial Aid Process
Let’s now recap the steps involved in applying for financial aid:
Colleges and universities may have their own deadline dates for applying for financial aid. Make sure you know what those dates are and what financial aid forms and documents are required.
To make sure students are considered for Cal Grants, as soon as possible after January 1, 2014, but no later than March 2, 2014, they should submit both:
the FAFSA or California Dream Act Application, and
the Cal Grant GPA Verification Form.
Students should keep a copy of all forms they submit and copies of all documentation used to complete those forms.
Review the electronic SAR Acknowledgement or paper Student Aid Report (SAR)
Review the California Aid Report (CAR) which provides information about the student’s Cal Grant eligibility.
After students have been admitted to one or more colleges, watch for financial aid award notifications. These notifications are sometimes called financial aid awards or packages and will list the grant, scholarship, work-study and loan amounts the student might be eligible to receive.
Remember, students must reapply for financial aid each year. Applying for financial aid by all published deadlines assures that the student is considered for the maximum amount of financial aid.
Remember, meet all deadlines. Don’t miss out on any financial aid opportunities!
ASK QUESTIONS! If you do not understand what to do next, or what is required of you – be sure to ask for help!
Note to Presenters: Remind the group that students should file all their financial aid forms by each college’s published deadline or March 2, 2014 – whichever date comes first.

23. If You Need Help at Any Time
FAFSA on the Web – Live Help
Phone FED-AID ( )
the U.S. Department of Education at:

24. Q & A ? Q & A Questions and Answers
We hope you have found this workshop helpful.
We will now be glad to answer any general questions you and your family might have.
After a brief question and answer period, volunteers will be available to help you complete the FAFSA on the Web and answer questions about the Cal Grant GPA Verification Forms and other financial aid documents.