1. Director of Financial Aid, Delta State University
MASFAA Annual Conference
Institutional
Federal
Financial Aid 101
State
Megan Smith, Ed.D.
Director of Financial Aid, Delta State University
June 20, 2019

2. MASFAA Annual Conference
Introductions

3. MASFAA Annual Conference

4. MASFAA Annual Conference
Financial Aid
Federal
Institutional
State

5. What created federal financial aid programs?
MASFAA Annual Conference
What created federal financial aid programs?

6. HEA 1965 MASFAA Annual Conference
President Lyndon B. Johnson signed the Higher Education Act (HEA) into law on November 8, 1965 on the campus of Texas State College, his stated purpose was to "swing open a new door for the young people of America…the door to education." The programs authorized through the HEA would be the key to unlocking that door—and in doing so changing the lives and futures of millions of Americans. (

7. Types of Federal Aid Programs
MASFAA Annual Conference
Types of Federal Aid Programs

8. MASFAA Annual Conference
Grants
Loans
Work-Study

9. MASFAA Annual Conference

10. How do we determine eligibility for federal aid?
MASFAA Annual Conference
How do we determine eligibility for federal aid?

11. MASFAA Annual Conference
FAFSA

12. Grants: MASFAA Annual Conference Pell Grants:
-Expected Family Contribution (EFC)
-Cost of Attendance (COA)
-Enrollment
-Award amounts varies
Federal Supplemental Educational Opportunity Grant:
-Institutionally-defined awarding guidelines
-$100-$4,000/year award amounts

13. Grants (cont’d) MASFAA Annual Conference -Eligible program -3.25 GPA
TEACH Grant:
-Eligible program
-3.25 GPA
-Commitment to serve in specific district and subject areas
-$4,000/year award
Iraq and Afghanistan Service Grant
-Pell Grant eligibility requirements, but not eligible for Pell Grant based on EFC
-Parent or Guardian was a member of U.S. and died as a result of military service after the events of 9/11
-Under 24 years old or enrolled in college at least part-time at the time of death

14. Loans: MASFAA Annual Conference Federal Direct Loans: -Subsidized
-need-based
-Unsubsidized
-Enrollment
-Award limit based on classification

15. Loans (cont’d): PLUS Loans: MASFAA Annual Conference -Parent PLUS
-in parent’s name, unless denied
-Graduate PLUS
Federal Perkins Loan: (no longer available)

16. Loans (cont’d): MASFAA Annual Conference Classification Subsidized
Unsubsidized
Add’l Unsub
Total
Freshman
$3,500
$2,000
$4,000
$5,500/$9,500
Sophomore
$4,500
$6,500/$10,500
Junior
$5,500
$5,000
$7,500/$12,500
Senior
Graduate
$20,500

17. Work-Study: FWS Employment: MASFAA Annual Conference
-Part-time employment
-6 credit hours minimum
-Unmet need
-All students eligible (undergraduate, graduate, or professional)

18. How do we package awards after determining eligibility?
MASFAA Annual Conference
How do we package awards after determining eligibility?

19. COA Need based Scholarships FWS Loans Max budget Grants All offers
Subsidized
Unsubsidized
PLUS

20. Policies Impacting Aid Eligibility
MASFAA Annual Conference
Policies Impacting Aid Eligibility

21. MASFAA Annual Conference
Completion: % subsidized loan eligibility limits the amount of time a student is eligible to borrow subsidized loans to 150% of their published program length. -Satisfactory Academic Progress (SAP) measures the qualitative (GPA) and quantitative (hours attempted) components of a student’s progression. Must pass 67% hours attempted with specific GPA (based on school’s standards)

22. Examples: MASFAA Annual Conference
Rachel is in a four-year bachelor's degree program. She attends school full time, and takes out subsidized loans each year for six years. When she enrolls for her seventh year, she loses eligibility for additional subsidized loans and becomes responsible for interest that accrues on her existing subsidized loans after the date she lost the subsidy.
Bob is attending a university full time to get a four-year degree, and takes out subsidized loans each year. After three years in his program, he transfers to a two-year program at another school. When he enrolls in his new program, he loses eligibility for additional subsidized loans and becomes responsible for interest accruing on his existing subsidized loans moving forward. This happens because his subsidy limit went from six years in his previous program to three years in his new two-year program

23. Examples MASFAA Annual Conference
Student A has attempted 48 units throughout their career and has successfully completed 34 units.
Student B has attempted 85 units throughout their career and has successfully completed 54 units.

24. -Loans -Pell Grant 600%=6 full years of eligibility
MASFAA Annual Conference
Eligibility Limits:
-Loans
-Pell Grant
600%=6 full years of eligibility
Classification
Subsidized
Unsubsidized
Total
Dependent
$23,000
$7,000
$31,000
Independent
$34,500
$57,500
Graduate
$115,500
$138,500

25. Miscellaneous: MASFAA Annual Conference
-Eligible non-citizenship revoked/expired
-Property lien/judgment
-Incarceration
-Professional Judgment (PJ)
-Felony drug conviction
-Overpayment of aid
-Defaulted loans
-Discharged loans

26. What does financial aid mean to you?
MASFAA Annual Conference
What does financial aid mean to you?

27. MASFAA Annual Conference

28. Resources MASFAA Annual Conference -NASFAA.org -AskRegs -ifap.ed.gov
-studentaid.ed.gov
-studentloans.gov
-Ask-a-Fed

29. Thank you! MASFAA Annual Conference
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