1. What YOU Need to Know About YOUR FINANCIAL AID at SF State!! NANCY JODAITIS Financial Aid Counselor Scholarship Specialist/AB 540 Counselor San Francisco State University

2. 2 FAFSA & CA DREAM FACTS Students HAVE to Apply Every YEAR! Should Complete in January or February (Prior to March 2 nd ) Recommended to Sign Application with P.I.N. Completing Application is only the First Step Financial Aid Eligibility is Based Primarily on 2014 Income & Investments 2015 Household Size If Household Income Changes, Contact the Financial Aid Office after June 2015 to determine steps/paperwork necessary to review eligibility for need-based aid.

3. 3 How Does My Financial Aid Get Calculated??? Cost of Attendance -Estimated Family Contribution* (EFC)= Financial Need Registration & Fees Room & Board Books & Supplies Transportation Personal Expenses Total Cost of Attendance Student Contribution + Parent Contribution = Estimated Family Contribution *The calculation of the EFC is based on the information submitted on the FAFSA, such as income and investments Determines the eligibility of the student for Federal & State Financial Aid (Grants, Loans, Workstudy & Scholarships) Financial Aid Offer

4. 4 What Does Financial Aid Pay For?? Tuition (paying your classes, gym, health clinic, student services & fun activities!) Where You Live (at home, in the dorms, your own apartment) School Books & Supplies How You Get Back & Forth to School (BART, bus, car & parking costs, bike, walk) Personal Expenses (Educational Related Costs)

5. 5 THINGS Financial Aid Usually Doesn’t Cover Housing Deposit (due with License) Books Options Before First Disbursement O SF State Program ~ BayBucks O Project Connect Book Loan Program Financial Aid CANNOT Release Until One Week Before School Starts Each Semester.

6. 6 How FINANCIAL AID Works WHEN School Begins, If Financial Aid is ALL IN ORDER $$ comes to the School Tuition & Other Fees ( Dorms, etc ) are DEDUCTED $$$ BALANCE Goes to STUDENT and/or PARENT OR $$ Student pays OUTSTANDING Fees Prior to First Day of Classes or Stated Deadline

7. 7 GRANTS = Free $$ to STUDY! Federal Grants: O Pell O SEOG State: O Cal Grants A & B O State University (CSU) O EOP Grant

8. 8 Federal STUDENT LOANS interest rates subject to change on July 1, 2015 Subsidized Loans: Gov’t Pays Interest While You’re in School 4.66 % Interest Maximum Amount ~ Freshmen: $3,500 Sophomores $4,500 Juniors/Seniors $5,500 UNSubsidized Loans: Interest Accrues While You’re in School ~ We recommend you pay interest & it’s tax-deductible 4.66% Interest Maximum Amount for Dependents: $2,000

9. 9 Federal PARENT LOANS interest rates subject to change on July 1, 2015 Based on CREDIT ~ 7.21% Interest Rate Parent Must complete ALL three steps AFTER July 1st: 1) SF State Parent Plus form 2) Apply at studentloans.gov 3) Complete Master Promissory Note Parent Must Be APPROVED based on credit Interest Accrues While Student Is in School Maximum Loan Amount: Difference Between Student Financial Aid & Cost of Attendance If Parent Declined, Student Can Increase Unsubsidized Loan $4,000 ~ Contact School for Instructions

10. 10 FEDERAL WORK STUDY Need-Based Aid that You EARN Great Option for PT job at School Get Connected to Staff/Faculty on Campus Can Work as a Tutor with America Reads Work-study is not counted as income on FAFSA if listed on next year’s application Students ineligible for federal work-study can also seek employment as Student Assistants

11. 11 Cost of ATTENDANCE or ESTIMATED COSTS for SF State 2015-16SF State Tuition$6,468 Room & Board$13,434 Books & Supplies$1,860 Transportation$1,486 Personal Expenses$1,392 TOTAL$24,640 COA is found on your award letter & financial aid website

12. MARCH 2 ND !*!*! REALLY !

13. 13 College Student Undergraduate Federal/State Financial Aid Programs WORK STUDY: Financial assistance earned by a student through employment. GRANTS: Financial aid that does not have to be repaid. LOANS: Money loaned to students. Repayment begins after student has left college. Federal Work Study Up to $4,000Pell$555 - $5,865Perkins$1,000 per year SEOGUp to $500Stafford/Federal Direct Loan: Subsidized & Unsubsidized. $5,500 - $7,500 per year Cal Grant A$5,472 Cal Grant B$7,120LOANS TO YOUR PARENTS: EOP GrantUp to $800Parent Plus LoanUp to $24,640 at SF State University Grant$5,472IF Denied :Up to $4,000 for student

14. 14 For CAL GRANTS: www.csac.ca.gov Create an account at WebGrants4Students www.csac.ca.gov

15. 15 Check your CAL Grant status and Make SURE the Proper School is Listed

16. 16 Allows certain categories of non-resident students to pay in-state tuition fees Must file AB 540 affidavit & present official CA high school transcripts to be exempt from non- resident fees Requires 3 Years of CA HS or primary school and Graduate from CA High school or Equivalent Applies to Citizens & Non-Citizens www.sfsu.edu/~finaid/ab540 Becoming an AB 540 Student

17. 17 Where Do I Get INFO/HELP with My Financial Aid?? FAFSA www.fafsa.ed.govwww.fafsa.ed.gov CA Dream Application www.caldreamact.orgwww.caldreamact.org SF State Financial Aid Website www.sfsu.edu/~finaid SF State Gateway Student Center www.gateway.sfsu.eduwww.gateway.sfsu.edu

18. 18 Figure out YOUR Budget… Do You NEED LOANS? Tuition~ Has to Be Covered FOR SURE! Books~ Project Connect Book Loan? Rental? Half.com? Transportation ~ ( Plane, Train, Car or Bus Pass) O Example: BART from Fremont to Daly City = $12 Roundtrip O School 3xs week = $36 for 15 weeks= $540 per SEMESTER!! Dorms or Housing~ HOW MUCH is IT? Monthly Payment Plan? Do You Have to Pay a Deposit? Personal Expenses ~ Educational Expenses, Computer, etc.

19. 19 USE the Per Semester Budget Worksheet www.sfsu.edu/~finaid www.sfsu.edu/~finaid

20. 20 Financial Aid Office at SF State O Experienced Counselors Available Visit or Call with Questions ~ BE PROACTIVE! O OneStop, Student Services Building, Monday-Friday 9:00-5:00 O By Phone: M-F 9:00 to 4:30 415.338.7000 O Via email: finaid@sfsu.edufinaid@sfsu.edu

21. 21 Key Times to Check Financial Aid Status FAFSA or DREAM website O Check Two Days After Applying SF State Student Center gateway.sfsu.edu O March ~ Income Verification or Documents O Mid-April ~ To View Award O PRIOR to Your Student Orientation O Right Before Fee Payment Deadlines  Fall: Early July & Mid August for Fall O Just Before Classes Begin

22. 22 Student Center – TO DO List

23. 23 To Do List ~ Income Verification

24. 24 Verifying Your Income Students are randomly selected by FAFSA or DREAM to verify household income and family size Student/Parent completes Income Verification Sheets AND USES the Data Retrieval Tool at www.fafsa.ed.gov OR SUBMIT Tax Return TRANSCRIPT from IRS, if student or parent cannot use data retrieval tool 1040 TAX RETURNS ARE NOT ACCEPTED!

25. 25 15-16 Dependent Student Verification Form

26. 26 Verification of Family Household Size

27. 27 Parents Who are Tax Filers

28. 28 Parents Who Don’t File Taxes

29. 29 Student Tax Information

30. 30 The IRS Data Retrieval Tool is accessible through the FAFSA website http://www.fafsa.ed.gov

31. 31 “Financial Information” Section of FAFSA How the questions under the “Financial Information” section are answered, determines whether you can use the tool. Data Retrieval Tool is AVAILABLE for BOTH Parents & Students

32. 32 “LINK TO IRS” If you are eligible to use the IRS Data Retrieval Tool, you will be prompted to: 1.Enter your FAFSA Pin Number 2. Select Link to IRS

33. 33 FAFSA – IRS Data Link After you are connected to the IRS.gov website: 1.Review your tax information for accuracy 2.Select the appropriate box below. 3.Select Transfer Now. You will then be returned to the FAFSA website. Your Data will now be transferred to your FAFSA You MUST sign with FAFSA PIN & resubmit your FAFSA to complete the process.

34. 34 Print Tax Return Transcript from www.irs.gov

35. 35 VIEWING Your Financial Aid AWARD Student Center ~ www.gateway.sfsu.edu Will BE Available to VIEW in Mid to Late APRIL

36. 36 MOST Common Reasons Financial Aid Award Could be Delayed Not Formally Admitted to the School Invalid FAFSA: Discrepancy with Name, Date of Birth and/or Social Security Number Financial Aid File is INCOMPLTE: O Didn’t sign FAFSA or DREAM App O Specific Documentation Needed (Foster Youth, Marriage or Birth Certificate, etc. ) Selected for Income Verification

37. 37 Account Summary = Balance DUE

38. 38 Students Receiving Financial Aid Have a SPECIFIC Deadline to Pay FEES

39. 39 Handle Your BUSINESS!*! Check your Financial Aid Status at www.gateway.sfsu.edu SHARE Responsibility between Parent & Student to ensure everything is in order. BUDGET Your Money! Take Advantage of all Resources Available! Ask for Help if you Need it!

40. 40 SCHOLARSHIPS Looking for Scholarships Scholarships for Grades, Community Service, Your Major, Geographic Area, Ethnicity & MORE! Apply for AS MANY AS POSSIBLE! Apply Early ~Majority of Deadlines are Jan – June Use a Scholarship CHART Writing the Essay Tell Your Story! One Good Essay can be the Base! Write & Re-Write Your Essay! Work Your Chart!

41. 41 Scholarship Website Campus Scholarships Outside scholarships

42. 42 Campus Scholarships ~ SF State ONLY ~

43. 43 Getting Started ~ Campus Scholarships Sign in with your SF State ID & Password Complete General Application to START

44. 44 External Scholarships ~ Private/ Community Scholarships~

45. 45 SCHOLARSHIP CHART TO ORGANIZE YOUR EFFORTS

46. 46 Make A Friend In Financial AID!! SF State Office of Student Financial Aid OneStop, Student Services Building, Monday-Friday 9:00-5:00 By Phone: M-F 9:00 to 4:30 415.338.7000 Via email: finaid@sfsu.edufinaid@sfsu.edu