1. FAFSA
Presented by:
Gina Becerril
Senior Assistant Director of Financial Aid
Occidental College

2. Sources of Financial Aid
Federal government
State government
Colleges and universities
Private agencies, companies, foundations, and your parents’ employers

3. Types of Financial Aid
Gift Aid - Grants or scholarships that do not need to be repaid
Work - Money earned by the student as payment for a job on or off campus
Loans - Borrowed money to be paid back, usually with interest

4. Cal Grants
Cal Grant A Entitlement Awards – for students with a GPA of at least 3.0, family income and assets below the state ceilings, and who demonstrate financial need
Cal Grant B Entitlement Awards – for students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need
Cal Grant C Awards - for students from low income families pursuing vocational programs of study
Keep your eyes and ears open.
Rules and Amounts governing Cal Grants might change!

5. Eligibility for Cal Grants
To be eligible for a Cal Grant, the student must also:
be a U.S. citizen or
eligible non-citizen
be a California resident
attend a California
college or university in

6. Cal Grant Ceilings ( )
Asset Ceilings - all parent and student assets excluding primary home, business equity, and retirement accounts

7. Cal Grant Application Requirements 2015-2016
By March 2, 2015
complete and submit:
Free Application for Federal Student Aid (FAFSA)
Cal Grant GPA Verification Form
Check with your high school or college counselor
for more details on how to complete
the Cal Grant GPA Verification form

8. Types of Applications & Documents
15-16 FAFSA
15-16 Cal Grant GPA Verification Form
Other applications or forms as required by the college such as:
15-16 CSS Financial Aid PROFILE
Institutional Scholarship and/or Financial Aid Application
2014 federal tax returns (along with schedules and W-2s) or other income documentation
Most Financial Aid Apps are now on-line
R 07 (Copy of FAFSA)
R 07 (GPA Verification Form)
R 21 (CSS Profile Registration Form)

9. FAFSA Information & Tips
File early, but no later than March 2, 2015
Use estimated 2014 income information if taxes are not complete at time of FAFSA submission
Student and at least one parent must complete and sign the FAFSA
Best to complete the form electronically.

10. Create a file for copies of all financial aid documents submitted
Getting Ready
Before starting the FAFSA, gather:
Student driver’s license
Student Alien Registration Card
Student and Parent
Social Security cards
2014 W-2 Forms and other records of money earned
2014 federal income tax form
Records of untaxed income
Current bank statements
Business, farm and other real estate records
Records of stocks, bonds and other investments
Create a file for copies of all financial aid documents submitted

11. Customized “My FAFSA” www.fafsa.ed.gov Start Here for all options –
Initial FAFSA Entry
Renewal Application Entry
FAFSA Corrections
Providing Signatures
Continuing a Saved FAFSA
Viewing Transaction History 11

12. FAFSA on the Web Worksheet

13. Completing the Worksheet
The FAFSA Worksheet allows you to pre-answer the most difficult questions before logging on to “FAFSA on the Web” (FOTW).
We will not cover all questions that are asked, just the most difficult ones!
This is a “smart form,” not all questions will be asked if they do not directly apply to you.

14. The FAFSA belongs to the student,
Logging In
The FAFSA belongs to the student,
NOT the parent!

15. Year in School Be sure to pick 2015-2016! Be sure to have a PIN
One for the student!
One for the parent!

16. Federal PIN Apply for a PIN at: www.pin.ed.gov
PIN serves as the electronic signature
Both student and at least one custodial parent need a PIN 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 addresses
If you select your “four number” PIN, it is automatically activated
Apply for a PIN at:

17. Choose a Password A login and password allows you
to save and return to your FAFSA later

18. 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. 18 18

19. State of Legal Residency
Remember, this is the student,
not the parent’s status!

20. Student Marital Status
The student,
NOT
the parent’s marital status! 20 20

21. Student Citizenship Status21 21

22. Eligible Noncitizen 22 22

23. Selective Service Requirement
Male students who are 18 years of age or older must be registered with the Selective Service
The student may also register by going to:
If the student is female, this question will not appear.
The FAFSA is a “smart” form.

24. High School Completion Status
Select the appropriate high school completion status
High school diploma
GED certificate
Home schooled.
Students who have not earned (or will not earn) a high school equivalency status, should select, “None of the above.” 24 24

25. Grade Level in 25 25

26. Degree or Certificate Objective

27. Work Study
Always check that you are interested in work-study; you can decline later if you don’t need or want it.

28. Be sure to answer for the student.
First Bachelor Degree?
Be sure to answer for the student.
NOT the parent!

29. Foster Youth
Answering “yes” to this question will bypass all parental questions, but the student will probably be required to submit proof of this status with official documents from the State directly to the school applying/attending.

30. Parent Educational Level
Highest level of education your parent(s)has completed
This is used to determine first-generation to college status
Father/Mother no longer used on form. Use of Parent 1 and Parent 2 allows for students with same-sex parents.
Big
Change

31. Drug Abuse & Federal Aid
This question is answered “no” by high school seniors. If you answer yes, the “smart form” will ask questions regarding drug-related conviction while receiving federal financial aid.
You may lose eligibility for federal financial aid if you are
convicted of any drug-related crime while
receiving aid.

32. High School
Student enters the name, city and state of the high school they attended
Student selects Confirm to retrieve the results
If no match is found you can hit “next”. 32

33. Where are you going?
It’s important that you get your FAFSA information to the right schools.
You can select up to 10 schools & after this submission, can substitute the original schools for additional schools.
Be sure to scroll down to check the schools you selected.

34. Strategies for Listing Colleges
List a California college or university first (for Cal Grant consideration)
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
NOTE: Each UC, CSU campus must be listed separately 34

35. Strategies for Listing Colleges School order matters for Cal Grants!
“School Selection Summary” page.
The following information has been added to the School Selection Summary page:
“You may change the positioning of any school in this list. To do so, click on the school name and then use the buttons on the right to change the position of the selected school. The FIRST and LAST buttons will move the school to either the top or bottom of your list, respectively, and the UP and DOWN buttons will move the school one position up, or one position down, respectively.
For federal student aid purposes, it does not matter in what order you list your selected schools. However, placing a school that participates in your state’s student grant programs first may help you obtain state grant aid. Check with your state grant agency for more information.”
This new text will only display when an applicant has selected more than one school.

36. School Code Features You can page through the search results
Can also view detailed information for a school before & after adding the school to their FAFSA 36

37. Housing Plans
Your housing plans help determine your cost of attendance

38. Determination of Student Dependency Status
1992 38 38

39. You will be asked to provide proof of this status
Dependency Status
If the student answered “Yes” to ANY of the previous questions, they do not need to provide parental information.
They are considered
INDEPENDENT
for financial aid purposes.
You will be asked to provide proof of this status

40. Dependency Status Results
If you have a special circumstance and are unable to provide parental information, under very limited circumstances, you may be able to submit your FAFSA without parental information. This will be verified by the school attending/applying.

41. Parent Information Provide Information on:
Biological or adoptive parent(s)
Including same-sex and unmarried parents living together
Stepparent (regardless of any prenuptial agreements)
Do not provide information on:
Foster parent(s), student is automatically considered an independent student
Legal guardian(s) or grandparent(s) or other relative(s) unless they have legally adopted you.
Student may request a dependency override in certain circumstances, contact a Financial Aid Office for more information
Big
Change

42. Parent’s Marital Status
What is your parent’s marital status as of today?
When did your parents get married or remarried?
If your parent’s marital status changes after you submit the FAFSA, contact your financial aid office.
If your custodial parent is not married, this “smart form” will ask for which parent you are completing the form.

43. Parent 1 Information Mother/Step-Mother or Father/Step-Father
What is Parent 1 SSN?
What is Parent 1 last name?
What is Parent 1 date of birth?

44. Parent 2 Information Mother/Step-Mother or Father/Step-Father
What is Parent 2 SSN?
What is Parent 2 last name?
What is Parent 2 date of birth?

45. Parent Information
What is your parent’s address?
If a parental address is provided, the parent will be notified that the FAFSA has been processed.

46. Parent State of Legal Residency
Remember, this is the parent,
not the parent’s status!

47. Family Household Include in parents’ household:
the student applying for financial aid
the custodial parent(s)
parents’ other dependent children, if parents provide more than half their support or the children could answer “no” to every dependency status question, regardless of where they live
other people, if they now live with the parents, and if the parents provide more than half their support, and will continue to provide that level of support from 7/1/15 through 6/30/16

48. Parents cannot be considered “in college”
Dependents in College
How many people in the household will be an undergraduate in college?
Always include the student
Include other household members only if they will attend at least half-time in in a program that leads to a college degree or certificate
Parents cannot be considered “in college”

49. Income Tax Forms Have your parent’s completed their 2014 taxes?
At this time, most parents will indicate “will file.”

50. as most families do not change status
Filing Status
2014
2013 Filing Status
is a good guide
as most families do not change status
from year to year.

51. Parent’s AGI
2014
If the student’s parents have not yet filed their 2014 federal tax return, use estimated 2014 information for this question
The “Income Estimator” on the FOTW may help you calculate this amount
If the student’s parents have completed their 2014 federal tax return, use actual 2014 tax return information to complete this item if they are not eligible to use the IRS Data Retrieval process

52. IRS Data Retrieval
If parent(s) answer “Already completed,” they will be given the option to transfer their 2014 income tax information directly from IRS records to the FOTW
If parents indicate that they have recently filed their 2014 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
Instead, they should use their actual 2014 IRS tax return to complete the FOTW so the student does not miss any important financial aid deadlines 52 52

53. Partnerships & S-Corporations
If your parent filed a 1040 tax return and uses the IRS Data Retrieval Tool, tax information from IRS Schedule K-1 is not transferred from the IRS. You are required to enter the amount that your parent reported in Box 14 IRS Schedule K-1 if applicable.

54. Parent’s Income Earned from Work
What is your parent’s income earned from work. This is used to calculate social security taxes, so it is different from the AGI.
Be sure to add business income!

55. Dislocated Worker/ Displaced Homemaker
In general, a person may be considered a dislocated worker if they are receiving unemployment benefits due to being laid off and are unlikely to return to the previous occupation.

56. Means Tested Benefits Received56 56

57. 1040A or EZ Tax Return
This question asks whether the parents, who indicated they will file an IRS 1040, are eligible to file a 1040A or 1040EZ instead
If you do not know the answer to this question, it is fine to select “Don’t know”

58. 2014 Income Tax Paid How much did your parents pay in income tax?
Taxes paid is not the amount withheld on the W-2 Form!!! It is:
amount withheld plus any check sent with the
tax return OR
the amount withheld minus any refund.

59. Tax Exemptions
Enter the number of tax exemptions your parents will claim for 2014.
This does not need to match the household size (but it often does).
The student does not need to be claimed on the tax return of the custodial parent!

60. Additional Financial Information
Often part of FAFSA
in the
following year!

61. Untaxed Income
Voluntary contributions to retirement plans must be included!
Child support received is required to be reported!   

62. Assets: Net Worth 62

63. Net Worth means current value minus debt
Parent Assets
DO nclude:
real estate (other than your parents’ home)
trust funds
money market and mutual funds
certificates of deposit
stocks and stock options bonds & other securities
Coverdell IRAs
529 plans owned by the parents
installment and land sale contracts
DO NOT include:
the home you live in, the value of life insurance and your parents’ retirement plans (pension funds, annuities, non-education IRAs, Keogh plans, etc)
UGMA and UTMA accounts in the student’s name
Net Worth means current value minus debt

64. Independent Students must answer a few additional questions.
Student Finances
The directions to complete the student section are the same as those outlined for the parents.
Independent Students must answer a few additional questions.

65. Student Assets Do not report a 529 account as a student asset.
Report as a parent asset!
Any other asset in the student’s name MUST be reported.

66. Special Note on 529s
While assets from 529 accounts owned by grandparents or other relatives are not reported this FAFSA as assets, if dispersed in the next tax year to a student, they will be considered untaxed income and reported on next year’s FAFSA.
This could greatly change eligibility for need-based financial aid in the following years.

67. Student Signature Process

68. Parent Signature Process

69. Confirmation Page

70. Net Price Calculator
The Net Price Calculator (NPC) is a quick and useful tool which can help you to understand how to finance an education.
New requirement from the federal government
All colleges required to have one
Based on the information you enter, you will be provided with an Estimated Financial Aid Award.

71. Special Circumstances
Contact the Financial Aid Office if there is:
Loss or reduction in parent or student income or assets
Death or serious illness
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
Any other unusual circumstances that affect a family’s ability to contribute to higher education
R 22 (Special Circumstances)

72. Summary of the FA Process
Submit all required forms, including FAFSA, by each college’s published deadlines (but no later than March 2)
By March 2 submit a Cal Grant GPA Verification Form
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!

73. If You Need Help at Any Time
FAFSA on the Web – Live Help
Phone FED-AID ( )
the U.S. Department of Education at: 73 73

74. Questions?