1. Integrating Faith in Learning, Leading and Serving

2. Making “Cents” Of It All
Integrating Faith in Learning, Leading and Serving
Making “Cents” Of It All
Definition of Financial Aid
How to Apply for Financial Aid
FAFSA Changes
How We Establish Your Financial Need
Types of Aid Available
Awarding Financial Aid
The Renewal Process

3. Definition of Financial Aid
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Definition of Financial Aid
Financial Aid is assistance to help offset the cost of higher education.
Federal Aid
State Aid
Institutional Aid
Private Aid

4. Create Your FSA ID Create your FSA ID and Password
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Create Your FSA ID
Create your FSA ID and Password
Parent and student are required to have their own FSA ID and password
FSA ID FAQ’s:

5. HOW TO APPLY... Free Application for Federal Student Aid (FAFSA)
Integrating Faith in Learning, Leading and Serving
HOW TO APPLY...
Free Application for Federal Student Aid (FAFSA)
The FAFSA can be completed online at:

6. FAFSA Now Available October 1
Integrating Faith in Learning, Leading and Serving
FAFSA Now Available October 1

7. FAFSA Application Dates Changes
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FAFSA Application Dates Changes
College School Year When FAFSA can be submitted Tax Income Year Used
July 1, 2018–June 30, October 1, 2017–June 30,
July 1, 2019-June 30, October 1, 2018-June 30,
**By using prior, prior year taxes, all parents and students would have already filed and most will be eligible to use the IRS Data Retrieval.

8. Why Dept. of Education Made Changes
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Why Dept. of Education Made Changes
alignment— the financial aid application process may be more aligned with the college admission process,
certainty—applicants will not need to estimate income or taxes paid, and
less pressure—more time for students and parents to explore and understand financial aid options and apply for aid before state deadlines.

9. What to Expect with New FAFSA Dates
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What to Expect with New FAFSA Dates
You may or may not see earlier award letters..
State funding has not been finalized
Federal funding has not been finalized
Schools may not have established costs
Financial Aid System Updates
Some schools may go out with many estimated awards on award
letters due to uncertainty of funding.

10. How Does the Data Retrieval Help?
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How Does the Data Retrieval Help?
Accurate filing information
Make sure no changes are made when using
You will not have to provide tax documents when IRS Data Retrieval Tool is used (only W2’s and worksheet)
Once information exports into FAFSA, you will not be able to review/change this information

11. (if not using IRS Data Retrieval Tool – for 2019/2020)
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Items Needed for FAFSA
Social Security numbers of student and parents
Student driver’s license number if you have one
2017 Federal Tax information, W-2 Forms
(if not using IRS Data Retrieval Tool – for 2019/2020)

12. IRS Data Retrieval Tool...
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IRS Data Retrieval Tool...
Makes filing FAFSA simple
Benefits of using retrieval tool
Additional information:

13. How Your Financial Need is Calculated...
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How Your Financial Need is Calculated...
Cost of attendance
- Expected Family Contribution (EFC)
= Financial Need
EFC stands for
Expected Family Contribution.
This is determined when your FAFSA is processed.

14. Need Varies Based on Cost
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Need Varies Based on Cost

15. What factors in with my EFC?
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What factors in with my EFC?
The EFC calculation used in the federal methodology looks at many factors when being calculated.
Income (taxed and untaxed income – such as pensions, military clergy allowance)
Allowances against student income (income taxes paid, social security)
Contribution from assets (savings, checking, business worth, investments)
Number in household and number of students in college (excluding parents)
EFC is calculated based on 9 months and used in conjunction with cost of attendance (which varies from school to school)
EFC is also calculated on enrollment status (example are you full-time, part-time, etc…)

16. TYPES OF AID Federal State Institutional Private
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TYPES OF AID
Federal
State
Institutional
Private

17. Federal Aid Pell Grant - $6,095/yr (based on 2018-19)
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Federal Aid
Pell Grant - $6,095/yr (based on )
Supplemental Educational Opportunity Grant (SEOG)
Post 911 GI Bill
(CSU is a Yellow Ribbon School)

18. Federal Loan Programs Stafford Loan - $3,500/yr for Freshmen
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Federal Loan Programs
Stafford Loan - $3,500/yr for Freshmen
Unsubsidized Stafford - $2000/yr
Federal Work Study/Student Employment -$2,000/yr
PLUS Loan
Teach Grant/Loan

19. State Aid SC Tuition Assistance/Need Based Grant Lottery Funding
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State Aid
SC Tuition Assistance/Need Based Grant
Lottery Funding
S.C. Tuition Grant - $ 3,300 (based on )
S.C. Hope Scholarship - $2,800
S.C. LIFE Scholarship - $5,000
S.C. Palmetto Fellows - $6,700
S.C. Palmetto and LIFE Enhancement - $2,500
S.C. Teaching Fellows - $5,700

20. Institutional Aid Academic Scholarships/Grants
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Institutional Aid
Academic Scholarships/Grants
$3,000/year to $15,000/year
Academic, Athletic, Music and Endowed/Funded
(amounts vary)

21. Private Aid Parents employer Parents Civic Organizations
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Private Aid
Parents employer
Parents Civic Organizations
Students Civic Organizations
Heritage Based Scholarships
Church
Scholarship Search Engines

22. Personal Contributions
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Personal Contributions
529 Plans SC Future Scholars
Payment Plans
(handled by our Student Accounts Office)

23. Integrating Faith in Learning, Leading and Serving
The Awarding Process
The financial aid office receives your information electronically from the Department of Education’s processing center. Some schools award first-come first-serve.
A financial aid package is created for you based on your FAFSA information.
An award letter is mailed out with additional information that may be needed.

24. Review Your Awards Review all awards
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Review Your Awards
Review all awards
Make sure you understand any terms included with awards (i.e. loans or scholarship renewal requirements)
If necessary, officially accept awards or decline any you do not wish to receive.
Check for additional information needed

25. Additional Information
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Additional Information
Verification...
If you are chosen, you must submit the following:
Federal tax returns
(unless you use IRS Data Retrieval Tool)
W-2 Forms
Verification Worksheet
Any additional forms requested by school

26. Integrating Faith in Learning, Leading and Serving
State Residency
For in-state tuition rates and SC-based scholarships, certification of state residency will be required by colleges and scholarship agencies.

27. Special Circumstances
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Special Circumstances
If there are any significant changes to your family’s financial status, notify the financial aid office of your school. These changes may affect your aid package.

28. Military and Residency
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Military and Residency
Members of the military permanently assigned in SC on active duty and their dependents qualify under an exception category. Military members and their dependents may be charged in-state tuition and fees without having to establish a permanent home in South Carolina.
SC residents who are members of the military stationed outside of SC and their dependents may receive in-state tuition and fees if they continue to claim SC as their state of legal residency. SC residents who change their state of legal residence lose their SC resident status for tuition and fee purposes.

29. Keeping your Awards Know the renewal requirements for each award
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Keeping your Awards
Know the renewal requirements for each award
Know the Financial Satisfactory
Academic Progress requirements
Review your progress each semester

30. Renewing Your Financial Aid
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Renewing Your Financial Aid
Remember the FAFSA has to be completed every year!
Renewals can be done by FAFSA on the Web
SAP – Satisfactory Academic
Progress

31. Integrating Faith in Learning, Leading and Serving
FERPA Waiver
The Family Educational Rights and Privacy Act is a federal law protecting the confidentiality of student records.
Student Information Release Authorization
All students are required to have a FERPA Waiver on file to include the student and a third party to receive information about their account

32. Additional Resources www.federalstudentaid.ed.gov 1-800-4-FED-AID
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Additional Resources
Information about aid programs
Free scholarship search
Free college search
FED-AID
Help with the FAFSA

33. Additional Resources www.che.sc.gov www.cerra.org/fellows
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Additional Resources
SC State Scholarship and Grant Programs
SC Teaching Fellows Program
SC Tuition Grant for Private Colleges

34. Additional Resources www.studentloans.gov www.charlestonsouthern.edu
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Additional Resources
Direct Loan Information
- Charleston Southern website
- Veterans information

35. Integrating Faith in Learning, Leading and Serving