1. Effectively Confronting the Monster
Financial Aid Literacy:
Effectively Confronting the Monster
Under the Bed
Jenny Cahoon
Kate Cushman
katherine_cushman
@abss.k12.nc.us

2. Statistical Background (Nationwide)
About 40% of all undergraduate students do not complete the FAFSA (about 1/4 of the non-filers would be eligible for a Federal grant).
The two groups most likely to not complete FAFSA are those with highest income and those with lowest income

3. Statistical Background (Nationwide)
Community college students are less likely to complete than 4 year colleges. In 2004, 67 % of community college students did not complete compared to 42% at 4-year public institutions, 33 % at private 4-year institutions and 13 percent at for-profit institutions.

4. Statistics (cont)
FAFSA completion is closely correlated with college enrollment. High school graduates who complete the FAFSA are 63% more likely to enroll in college than those graduates who do not fill out the form
FAFSA completion impacts college completion. Research indicates filers are 72 % more likely to persist in college
Research indicates that an additional $1,000 in grant aid per student increases persistence rates by 4 percentage points.

5. North Carolina Statistics
In academic year, approx. 61% of NC high school seniors completed a FAFSA
Approx. 48,000 seniors did not complete a FAFSA (some submitted but did not complete)
Most of low-filing areas are rural and low income. Based on that, it is possible that approx. 75% of the 48,000 would have qualified for Pell and/or state grant.
The impact of filing a FAFSA and receiving aid has shown to have a large impact on entering college, but the impact of financial aid on college persistence is still being debated. The reason they cannot find anything conclusive with regard to financial aid is that there are so many competing factors such as family support, the “right” college environment, etc. Finances seem to be only a part of the issue.

6. Purpose
The majority of research studies show that personal interaction, be it assistance or communication, is the single most significant contribution made toward increasing FAFSA completion rates.
Who is the person in your school most likely to have contact with students re: matters of college access and financial aid???

7. Our experience Internship at NCSEAA during the summer of 2014
Led to creation of advisory council comprised of counselors from across the state
Several presentations at NCASFAA on the disconnect between high school counselors and Financial Aid Offices
FAFSA map on CFNC was created as a direct response to counselor complaints about not having a “person” at FA offices to speak with
CFNC trainings have been reconfigured to provide more relevant information as well as a more interactive workshop experience

8. Our experience (cont.)
Through our presentations at NCASFAA, we have learned that admissions offices and financial aid offices do not interact
Financial aid officers were under the impression that admissions representatives shared much more in-depth info on the FAFSA
Very few Admissions officers are cross trained as Financial Aid Officers and vice versa

9. Nuts and Bolts (FAFSA line by line)

10. Nuts and Bolts : Myths

11. Nuts and Bolts: Deadlines (cont.)
Try to hit deadline that comes first but encourage students to file even if missed priority deadline
Upcoming Priority Deadlines for NC Colleges (17/18 dates)
WFU - 11/15 (ED), 1/1 (RD)
DUKE - 11/15 (ED), 2/1 (RD)
DAVIDSON - 11/15 (ED1), 1/2(ED2), 2/1 (RD)
UNC-G - 12/1
NC A&T - 12/1
UNCW - 1/1
WCU - 1/1
UNC, NCSU, NCCU, UNC-A, ECU, WSSU - 3/1

12. Nuts and Bolts: Getting Started
RDS and Residency
FAFSA Completion
FSAID:
FAFSA:
Cheat Sheets (CAM, FAFSA Completion Events)
What info students need to complete these applications:
Side_RDSandFAFSA.pdf

13. Nuts and Bolts: Resources for more info
FAFSA MAP
Fall Trainings – NCASFAA
Tips for Presentations, handouts, training

14. Nuts and Bolts: Common exceptions
Common issues
Homeless students
DACA Students and Children of Undocumented Parents

15. Nuts and Bolts: I filed, now what?
Confirmation Page
Student will get an link to Student Aid Report (SAR) w/in 3- 5 days
Review info to ensure that completed correctly
Complete or not?
Expected Family Contribution (EFC) - * = selected verification
Estimate of eligibility for federal grants and loans
Info on colleges you sent FAFSA to

17. Nuts and Bolts: Measuring Progress
FAFSA Completion by High School
volume/fafsa-completion-high-school
Finish the FAFSA (Ftf) - tool provided through NCSEAA, linked with CFNC professional account
Agreement must be signed by school superintendent
Contact Marcia Weston for more info

21. Additional Resources
From the North Carolina Association of Financial Aid Advisors:
Step by Step Instruction (Guidebook)
fafsa.pdf?_ga=

22. Best Practices General expectation of FAFSA Completion
Present financial aid info early + often
Sophomore classroom guidance
Junior parent nights in Spring
FAFSA Completion events on high school campuses

23. Best Practices FTF School/community wide focus
Remember- You are not alone- encourage your parents to use college financial aid offices as “experts”

24. Works Cited
Davidson, J Cody. Increasing FAFSA Completion Rates: Research, Policies and Practices, Research and Policy at Kentucky Council on Postsecondary Education.
Novak, H., & McKinney, L. (2011). The consequences of leaving money on the table: Examining persistence among students who do not file a FAFSA. Journal of Student Financial Aid, 41(3), 5–23. Retrieved from
Better for Students: Simplifying the Financial Aid Process (Bill and Melinda Gates Foundation). Approach_FINAL_7_7_15.pdf

25. NCASFAA would like to thank our Professional Affiliates!
Spring Conference April 7 – 10, 2019