1. Financial Aid Night 2014-2015

2. Agenda Cost of attendance (COA) & Expected Family Contribution (EFC) Types and sources of financial aid AB540 and the Dream Act How to complete the Free Application for Federal Student Aid (FAFSA) Next Steps: What happens after you submit the FAFSA Resources and RHS financial aid help dates

3. What is Financial Aid? A way to pay for a college education Government (federal & state) support for college attendance Institutional (college) support for college attendance Private (business, community, etc.) support for college attendance Cost of Attendance – Expected Family Contribution = Financial Need

4. Cost of Attendance (COA) Note: Costs vary from institution to institution Standard CostsOptional Costs Tuition and feesStudent loan fees Room and boardStudy-abroad Books and SuppliesDisability-related services Transportation Employment expenses for co-op study Miscellaneous personal expenses Child or dependent care

5. Expected Family Contribution (EFC) Amount a family can reasonably be expected to contribute Stays the same regardless of college Two components –Parent contribution –Student contribution Calculated using data from a federal application form and a federal formula

6. Types of financial aid  Grants - Money that does not have to be paid back. Based on financial need.  Work-study or student employment programs - federal and college.  Loans - Borrowed money that you must pay back, usually with interest.  Scholarships - Free money, usually based on a student’s area of study or merit. 6

7. TypeWhere can you use it? RequirementsWhat does it pay for? Cal Grant A 4-year college3.0 GPA, low to middle income Tuition and Fees for: CSU ($5,472) UC ($12,192) Private Colleges ($9,223) Cal Grant B CCC or 4-year college 2.0 GPA, low income $1,473 for the 1 st year $1,473 + fees for 2 nd, 3 rd, and 4 th years Cal Grant C CCC or vocational school No required GPA $576 plus up to $2,462 for tuition at a school other than a CCC Cal Grants

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9. Other Grants  Federal Pell Grant  Up to $5,550 a year  Federal Supplemental Educational Opportunity Grant  Up to $4,000 a year  Federal TEACH Grant  Up to $4,000 a year  CHAFEE Grant  Provides up to $5,000 annually to current and former foster youth

10. ProgramAward AmountNotes Work StudyVaries by schoolOn and off-campus employment Perkins Loan Up to $5500 (UG)/ $8000 (Grad) 5% fixed rate student loan Subsidized Direct Loan $3500- $5500 (undergrad level) Temporary elimination of interest subsidy during grace period; no loan fee rebate Loans and Work Study

11. Scholarships University-based scholarships and grants Private scholarships – www.finaid.org www.finaid.org – www.collegeboard.org www.collegeboard.org Local Scholarships – Outside Scholarship List (updated regularly) – Local Scholarship Booklet – available 1/31 – www.rosevilletigers.org - Click “Academics” then “Career Center” www.rosevilletigers.org

12. Starts in 2014-2015 for undergraduate students who are:  Attending a CSU or UC campus  From families with income up to $150k  U.S. citizens, permanent residents or AB 540  Not incarcerated  California residents

13. Students must also:  Maintain a 2.0 GPA  “Meet certain income and other financial aid standards”

14. How do students apply…?  FAFSA  Dream Act application  Cal Grant GPA Verification is not required, but it is recommended.

15. How much can students get?  Up to 40% of mandatory system-wide fees for students whose annual family income is up to $100,000...eventually.  No less than 10% of mandatory system-wide fees for students whose annual family income is between $100,001 and $150,000

16.  Based on CSU system-wide fees of $5,472, 40% would be $2,188.80. Over the next 4 years…: Year% of 40%Maximum Award 2014-201535%$ 766.08 2015-201650%$ 1,094.40 2016-201775%$ 1,641.60 2017-2018100%$ 2,188.80

17.  Based on UC system-wide fees of $13,200, 40% would be $5,280. Over the next 4 years…: Year% of 40%Maximum Award 2014-201535%$ 1,848 2015-201650%$ 2,640 2016-201775%$ 3,960 2017-2018100%$ 5,280

18.  The MCS is not a set amount and may vary by student and by institution.  The award amount will be determined after other awards (Pell Grant, Cal Grant, and institutional need-based grants) are made.

19. Up to 40% fee reduction* Cal GRANT A and C Covers up to 100% of tuition/fees** Cal GRANT B May cover up to 100% tuition/fees and some living expenses** $150,000 $120,000 $90,000 $60,000 $30,000 $0 ANNUAL FAMILY INCOME * When fully funded. **Based on 2013-2014 income levels, family of four.

20.  And one more thing… “The final award amount will also be based on the number of students that are eligible for the Middle Class Scholarship and the amount of funding allocated by the State Budget. "

21. It all starts with the… Free Application for Federal Student Aid (FAFSA) www.fafsa.gov Dream Act Application dream.csac.ca.gov

22.  Attended a California high school for 3 or more full academic years between grades 9 through 12  Will graduate from a California high school (or attain a GED)  Do not have a Social Security Number or does have a DACA Social Security Number  Do not hold a valid non-immigrant visa

23.  This is the student’s application and responsibility!  Parent information is usually required.  Apply between January 1 st and March 2 nd of the senior year.  Renew every year at the same time!  The FAFSA and Dream Act applications help determine ability to pay for college

24. FAFSA Information & Tips File early, but no later than March 2, 2014 Use estimated 2013 income information if taxes are not complete at time of FAFSA submission Student and at least one parent whose information is reported must complete and sign the FAFSA with a PIN number 24

25. Federal PIN PIN (Personal Identification Number) serves as the electronic signature on ED documents Both student and one parent need PINs to sign the FAFSA electronically May be used to: Check on FAFSA status Verify and correct FAFSA data Add additional schools to receive FAFSA data Change home and e-mail addresses If an e-mail address is provided, PIN will be e-mailed to the PIN applicant within minutes Apply for student and parent PINs at: www.pin.ed.gov 25

26. Before starting the FAFSA, gather: o Student driver’s license or Alien Registration Card o Student and Parent Social Security cards 2013 W-2 Forms and records of money earned and other taxable benefits 2013 federal income tax form (even if not yet completed) Records of untaxed income Current bank statements Business, farm, and other real estate records Records of stocks, bonds, and other investments Complete 2014-15 FOTW Worksheet Create a file for copies of all financial aid documents submitted Getting Ready 26

27. FAFSA on the Web Worksheet Use the 2014-2015 FAFSA on the Web Worksheet in preparation for submitting your FAFSA online Available at www.fafsa.gov www.fafsa.gov 27

28. Section 1 Section 1–Student Demographics Section 2 Section 2–School Selection Section 3 Section 3–Dependency Status Section 4 Section 4–Parent Demographics Section 5 Section 5 – Financial Information Section 6 Section 6 – Sign and Submit Section 7 Section 7 – Confirmation 28 FAFSA(www.fafsa.gov)

29. Section 1 STUDENT DEMOGRAPHICS

30. Section 1 - Student Name Make sure to report the student’s name exactly as it appears on the student’s Social Security card 30

31. Section 1 - Student Social Security Number Double check the student’s Social Security Number when entering it on the FOTW. Both student name and Social Security Number will be compared through a database match. 31

32. Section 1 - Undocumented Students Check to see if he/she might be eligible for in-state tuition/fee costs Visit www.CalDreamAct.org to learn more about the new California Dream Act Check with colleges and universities about CA Dream Act institutional financial aid and private scholarships Apply for all other private scholarships for which the student may be eligible For more information and a list of scholarships, go to www.latinocollegedollars.org http://www.maldef.org/assets/pdf/Scholarship_List_2010_2011.pdf www.finaid.org/otheraid/undocumented.phtml If the student is undocumented 32

33. Section 1 - Selective Service Registration Male students who are between the ages of 18 and 25 years must be registered with Selective Service to receive federal and state aid Answer “Register me” only if you are male, aged 18-25, and have not yet registered. The student may also register by going to: www.sss.gov 33

34. Section 2 SCHOOL SELECTION

35. Section 2 - School Selection 35 FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information The student should list the California school he/she is most likely to attend FIRST Then list those schools with the earliest financial aid deadlines, regardless of whether they are in-state or out- of-state If the student is applying to more than ten schools, wait for the processed Student Aid Report (SAR) and add additional schools via the Web or by phone using the student PIN

36. Section 2 - School Selection The student will be asked to select the housing plan that best describes the type of housing the student expects to have while attending each listed school The choices for housing are: On Campus, With Parent, or Off Campus The student’s choice of housing may affect the amount of financial aid for which he/she is eligible. It is usually more expensive to live on or off campus than with parents or relatives 36

37. Section 3 STUDENT DEPENDENCY STATUS

38. Section 3 - Determination of Student Dependency Status 38

39. Section 3 - Determination of Student Dependency Status If the student checks “No” in all of the boxes, the student will be asked to go to Section 4. For FAFSA filing purposes, the student is considered a dependent student and will be required to provide parental information If any one of the items in this section applies to the student, he/she should will go to Section 5. The student is considered an independent student for FAFSA filing purposes and is NOT required to provide parental information 39

40. Section 4 PARENT DEMOGRAPHICS

41. 0 12,356 Section 4 - Parent Demographics 41 If the answer to any question is zero or the question does not apply, enter 0: Report whole dollar figures: Recommendation: If your parents have not filed their 2013 federal tax return, use W-2 forms and/or other employment records - such as final 2013 pay check stubs - to estimate total income Remember, rather than miss any filing deadline, use estimated 2013 income information (no cents)

42. Whose info goes on a FAFSA/ CA Dream Act application? THE FAFSA & CA DREAM ACT APPLICATIONS NOW USE RELATIONSHIP OF PARENT TO STUDENT, VS. LEGAL RELATIONSHIP BETWEEN PARENTS FOR BASIS OF COLLECTING INFO Relationship of Student to ParentIncludes both parents’ incomes on the app? Only includes one parent’s income on the app? Parents married, living togetherYESNO Parents not married, living togetherYESNO Parent is widowed, not remarriedNOYES Parents are divorced or separated, not living togetherNOYES (include the parent the student lived with most during the last 12 months. If equal time, include the income from the parent who provided most of the student’s financial support during the last 12 months) Parent and step-parent, living togetherYESNO Legal guardians * NO Foster Parents * NO Grandparents, brothers, sisters, uncles, or aunts * NO “Parent” means biological/adoptive parent – gender of biological or adoptive parents is not relevant. * Students living with legal guardians, foster parents, or relatives are usually considered to be independent students.

43. Section 5 FINANCIAL INFORMATION

44. Section 5 - IRS Data Retrieval This question asks if parents have completed their 2013 IRS income tax return If parent(s) answer “Already completed,” they will be given the option to transfer their 2013 income tax information directly from IRS records to the FAFSA If parents indicate that they have recently filed their 2013 taxes, they may not be able to access their IRS data if they have filed taxes electronically within the last two weeks or by mail within the last eight weeks 44

45. Application Filing Tips Check the FAFSA for accuracy prior to submission Save all work periodically Sign the application using student’s and one custodial parent’s PINs Print a copy of the FAFSA before submitting it Keep a copy of the Submission Confirmation Page Check each college’s financial aid website for other required applications (e.g., CSS/Profile) 45

46. What Happens Next? Students and the colleges the student listed will receive a Student Aid Report (SAR) Students who complete FAFSA and Cal Grant GPA Verification Form will receive California Aid Report (CAR) Students and families should review SAR and CAR for important information and accuracy of data – Update and correct Track your Cal Grants at www.webgrants4students.orgwww.webgrants4students.org Colleges send notices of financial aid eligibility to admitted students who have completed all required financial aid forms through web portals (check these OFTEN!!!) 46

47. Special Circumstances Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as: –Loss or reduction in parent or student income or assets –Death or serious illness –Natural disasters affecting parent income or assets such as the recent California wind storms, wild fires, floods, or mudslides –Unusual medical or dental expenses not covered by insurance –Reduction in child support, Social Security benefits or other untaxed benefit –Financial responsibility for elderly grandparents, or –Any other unusual circumstances that affect a family’s ability to contribute to higher education 47

48. Summary of the Financial Aid Process Submit all required forms, including the FAFSA and Dream Act, by EACH COLLEGE’S PUBLISHED DEADLINES (but no later than March 2) Keep a copy of all forms submitted Review the electronic Student Aid Report (SAR) acknowledgement or the paper SAR sent to the student Review the California Aid Report (CAR) Watch for financial aid award notifications from colleges to which the student has been admitted Be sure to apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible ASK QUESTIONS! 48

49. If You Need Help at Any Time FAFSA on the Web – Live Help Tel: 1-800-4-FED-AID or 1-800-433-3243 E-mail: www. FederalStudentAidCustomerService@ed.gov 49

50. FREE CASH FOR COLLEGE 50 Cash for College Workshop February 4 th – RHS Library - 6:00 – 8:00pm Get help with the FAFSA, Dream Act, and Cal Grant applications Students who attend and submit their FAFSA may be eligible for up to a $1,000 scholarship!!!

51. Financial Aid Workshops Counselors will be available in room 937 from 2:30 to 4:00 for one-on-one FAFSA help on the following days Wednesday, February 12 th Wednesday, February 26 th

52. Questions and Answers 52