2. Elizabethtown College Financial Aid Office Andrea M. DeLuca, Assistant Director

3.  Familiarize with terminology  Outline application process  Describe aid sources  List resources available  Reduce your anxiety

4.  Campus visits  Personal interviews with admissions and financial aid  Create college spreadsheet  Complete admissions application by December of senior year  Note financial aid deadlines  Complete federal taxes early

5. When beginning your college search, DO NOT rule out any school based solely on the cost. Only eliminate schools once financial aid is known and affordability is determined!

6.  Resource for family  Responsible to federal government  Administer state funding  Steward of college funds  Student advocate

7. To be considered for financial aid, you must: APPLY FOR IT!

8.  Free Application for Federal Student Aid (FAFSA)  Institutional application  CSS PROFILE Form  Civic, religious, service scholarship applications

9.  The earliest that you may submit the FAFSA is January 1 st of the senior year.  May 1 st is the deadline to apply for a PHEAA State Grant (PA Residents Only).  Check with each institution to determine their own financial aid deadline.  Review private sources for their deadlines.

10.  Student  Parents Natural/adoptive Single: divorced, separated, widowed Remarried: Natural and step (who you live with) AND

11.  Schedule time to do it together.  Be aware of application deadlines.  Complete federal tax return & schedules as early as possible.  Complete all items – don’t leave any blank spaces

12. Under the Family Educational Rights and Privacy Act (FERPA), all information submitted on applications is protected. The data is treated as strictly confidential, maintained in a secure area, and only released to a third party upon obtaining student’s signature.

13.  www.fafsa.govwww.fafsa.gov Be sure to use the “.gov” and not “.com”  www.pin.ed.gov www.pin.ed.gov Obtain a PIN to sign the FAFSA

14.  Improves speed of application process  Used as “signature” on current and future FAFSA and loan applications  Used to make corrections to the FAFSA  Student/parent(s) should apply for their individual PIN – only one parent will need a PIN. www.pin.ed.gov

15. FAFSA Web or paper Federal Government (data entry, analysis, matches) Student Colleges State (grant award) $ $ $ $ $ SAR $ $ $ Where does your information go?

16.  FAFSA data checked against source of data for accuracy  Common documents requested include: ○ 2013 Federal Tax Data ○ W-2 Forms ○ Verification Worksheets  Review performed by the Financial Aid Office

17. Students and parents are the primary source of funds for postsecondary education and are expected to contribute to the extent they are able.

18.  Federal government  State government  Postsecondary institutions  Private agencies

19. Dependent upon: o Funds available to meet applicants’ need o Specific goals of enrollment o Amount of federal campus-based funds o Special circumstances

20.  Direct Costs Tuition Fees Room Board  Indirect Costs Books & Supplies Transportation Personal Expenses

21. Cost of Education - Expected Family Contribution Student’s Financial Need

22. Parent Contribution +Student Contribution Expected Family Contribution

23.  Parental Income (Taxed and Untaxed)  Parental Assets (Excluding Primary Home & Tax-Sheltered Retirement Plans)  Student Income (amounts over $6,000)  Student Assets  Family Size/Number in College  Age of the Older Parent

24.  Consumer Debt  Prior Educational Debt  Auto Expenses Permitted With Professional Judgment  Parent in College Expenses  Elementary/Secondary Tuition for Siblings  Medical & Dental Expenses

25.  Gift Aid Scholarships Grants  Self-Help Employment Loans

26.  Academics  SAT’s  Class Rank  H.S. Attended  AP Courses  Predicted G.P.A.  Academic Track in High School  Diversity- Gender/Ethnicity  Athletic Ability  Talent- Theater, Art  Activities- Yearbook, Government  Geographic Diversity  Legacies

27.  Merit-based aid (Scholarships) Academic ability Special talent/achievement Program of study  Need-based aid (Grants) Financial need Largest source of gift aid funds

28.  “Floor” of Financial Aid Package  Maximum Award: $5,645  EFC determines eligibility ($5,081 or less)  Limited to 6 years of full-time eligibility PELL SEOG   “Priority to Pell Grant recipients  Award Range $100 to $4000 based on school’s funding  Determined by Financial Aid Office

29.  Initial application = FAFSA  PHEAA online application notice sent  Must be a PA resident  Award value up to $4,362 Correlates to cost of college

30.  Spending money  Time management  Focused academics  Support group  Job references ( Recommended schedule: 6-10 hours a week )

31.  Federal Work Study (FWS) Part-time employment on or off campus Partially subsidized by federal government  Institutional Employment Part-time employment on campus Fully subsidized by college

32.  Borrowed money to be paid back with interest.  An investment of students in themselves.  Available to all undergraduate students

33.  For 2013-2014, loans have a fixed interest rate of 3.86 % (set annually with an 8.25% cap)  Annual eligibility based on student’s grade level

34.  Loan fees of 1.072% (increased from 1.051%) are charged.  Principal deferred while enrolled at least half-time (minimum of 6 credits).  Six-month grace period after last date of attendance.  Standard 10-year repayment term (other options available).

35.  Students with exceptional need  Loan amount determined by Financial Aid Office  Interest rate: 5%  Loan maximums: $5,500 per year  9-month grace period  Deferment/cancellation provisions

36.  Always FREE  Never provide personal information such as your SSN  Seek help finding scholarships through: High School Guidance Office Financial Aid Office World Wide Web Sites http://www.finaid.com http://www.fastweb.com http://www.collegeboard.org

37.  Must be reported  Individual institutions will handle scholarships differently Check policy of each institution

38.  10-month interest-free payment plans  Assortment of bank plans  Institutional plans  Federal PLUS loans (6.41%, with a 10.50% cap)  Home equity loans (Pursue these options after college choice is made.)

39. The law provides the Financial Aid Office the flexibility to deal with special circumstances and conditions which are applied on a case- by-case basis after the original application has been filed.

40.  Separation or divorce  Death of one parent  Loss of employment income  Loss of non-taxable income  Unusual medical expenses  Other unusual circumstances

41.  Yes! Annually Every year a new financial “snapshot” Family circumstances may change ○ Income ○ Assets ○ Number in college ○ Number in household ○ Special circumstances

42.  2013 Federal Tax Return  2014 Federal Tax Return  2015 Federal Tax Return  2016 Federal Tax Return 2014-2015 Academic Year 2015-2016 Academic Year 2016-2017 Academic Year 2017-2018 Academic Year

43. CCollege financial aid office PPHEAA regional office LLocal lenders LLocal civic, religious, service organizations HHigh school guidance counselor

44. Elizabethtown College Financial Aid Office 717-361-1404