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Frontier HS Financial Aid Presentation December 1st, 2014 Daniel M. Tramuta Associate Vice President for Enrollment Services New York State Financial Aid Administrators Association (NYSFAAA) – Past President Eastern Association Student Financial Aid Administrators (EASFAA) – State Rep. SUNY Fredonia tramuta@fredonia.edu 716.673.3253
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Sources of Financial Assistance
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How & When to Apply? Apply for Admission (Fall of Senior Year) Collect documents Request a federal PIN at www.pin.ed.govwww.pin.ed.gov Complete the CSS Profile by that specific school’s requested deadline Fill out the 2015-16 FAFSA on the Web Worksheet (Do Not Mail this Worksheet) (Dec.) Complete FAFSA online at www.fafsa.ed.gov in January 2015 (Estimate the information)www.fafsa.ed.gov Print the confirmation page Use the corresponding state scholarship link to apply for TAP Keep records
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Complete the 2015-16 ‘FAFSA on the Web’ Worksheet
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6 Student & Parent can select the same PIN Get a PIN now!! Every student and parent needs one. The PIN replaces the need for having to mail in a signature page.
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Ditch the FAFSA PIN in Spring 2015 Next spring, the U.S. Department of Education will eliminate the use of the four-digit Federal Student Aid PIN, which is currently required to access federal financial aid systems. The government plans to replace the PIN with a new “FSA ID.” The FSA ID will allow students and parents will be able to select their own user name and password. What’s more, students and parents who already have a PIN will be able to link that code to their new FSA ID. The new ID will be used to access: - See more at: http://blog.collegegoalsundayusa.org/Pages/Ditch-the-FAFSA- PIN-in-Spring-2015.aspx#sthash.RsPtj3lZ.cS1ID3wr.dpuf 7
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Collect Information Student’s and parent’s SSN and DOB Parent’s marital status Tax returns for student and parents W-2’s for student and parents Records of untaxed income for student and parents bank, stock, real estate, and business records for student and parents Student’s driver’s license number Student’s alien registration number (for non U.S citizens) PINs for student and one parent
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9 The on-line FAFSA allows students to list up to 10 colleges. The paper FAFSA allows only 4 colleges to be listed. File the FAFSA as soon as possible after January 1st of each aid year.
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Important Steps for Filing the FAFSA Step One: Student Demographics Name, social security number, birth date Provide an email address Indicate gender Males have the opportunity to enroll in Selective Service For more information go to: www.ss.gov Step Two: School Selection Enter FAFSA codes – up to 10 colleges
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Important Steps for Filing the FAFSA Step Three: Parent Demographics Name, social security numbers, birth dates Marital status If your parent does not have an SSN, enter 0’s or 9’s Step Four: Financial Information If you have not filed your 2014 federal tax rturn, select “will file” Use 2014 Estimated Income first, then follow up with IRS Data Retrieval process embedded within FAFSA
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IRS Data Retrieval Process All FAFSA on the Web applicants and the parents of dependent applicants, who indicate that they have filed their federal tax returns prior to completing their FASFA, will be directed to use the FASFA-IRS Data-Retrieval process to complete their FASFA more easily and accurately. Applicants who choose not to use the FAFSA-IRS Data Retrieval process will be informed that they need to explain to their institutions why information they provided is more accurate than info that would have been obtained directly from the IRS. A tax transcript would then need to be requested from the IRS and sent to the school along with any other requested documentation – this will cause aid processing delays!!
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IRS Data Retrieval
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IRS Data Share Process
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Enter your filing status and address information exactly as it appears on your tax return and press "submit." Information needs to match your 1040 precisely! For example, if on the address line of your 1040 you used “St.,” but you typed the word “Street” into this website, the IRS DRT will not locate your return.
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IRS Data Retrieval/Share
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IRS Data Share
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Entering Info from W-2/Final Check Stub on FAFSA
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FAFSA Confirmation Page Apply for TAP from the FAFSA confirmation page
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20 After 2015-16 FAFSA is submitted on-line, establish your TAP PIN. You may choose to use the same number as your federal PIN. If you miss the TAP link from the FAFSA, go to www.tapweb.org 24-48 hours after completing the FAFSA. www.tapweb.org Please be aware that the first school code listed on the FAFSA is automatically populated on the TAP application.
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FREE help is available Make sure you are not paying for free information Know what you are getting for your money Need more information: 1-800-4FEDAID Should I pay someone to help me find or apply for student financial aid?
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Financial Aid Award Letter
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SMART TRACK Award Letter
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William D. Ford Direct Loans Subsidized Stafford Loan 4.66%, capped at 8.25% /Origination Fee is 1.073% Based on need Federal government pays interest while student is in school $3,500 for freshmen Unsubsidized Stafford Loan 4.66%, capped at 8.25% /Origination Fee is 1.073% Not based on need Student is responsible for interest while in school Loan cannot exceed cost of education minus financial aid $5,500 for freshmen 24
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Smart Track Award Letter
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FASTWEB.COM Fastweb recently matched you to these new scholarships! Apply today, so you don't miss out!new scholarships! That was easy–you didn't even have to search! Check out your new scholarships: Gen and Kelly Tanabe Scholarship (Amount: $1000) Log in to see the rest of your personalized scholarship matches: What do I do now? You're never going to win scholarships if you don't apply. Simply choose one of the scholarships on your matches list, read through the detailed info and click on the scholarship provider's website to find out how to apply. Why was I matched to these scholarships? We matched you to these scholarships because of the info you have in your profile. If these scholarships aren't what you had in mind, you have the power to make them better. Update your profile by filling out as much as possible and keep your info current. That way, we'll find better, more personalized scholarship matches for you. Gen and Kelly Tanabe Scholarship (Amount: $1000) matches listUpdate your profile
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Appeals Based on Unusual Circumstances Loss of Income in 2015 vs. 2014 Medical/Dental expenses NOT PAID by insurance Death, separation, divorce...... 1-Time Fluctuation in Income Elementary/Secondary Private School Tuition Expenses Follow the procedures of the Financial Aid Office where student is attending. 27
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Questions?
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