1. Financial Aid 2015-2016

2. Who is Eligible?  Be a U.S. citizen or an eligible noncitizen;  Have a valid Social Security number;  Eligible Non-citizens must provide Certificate of Naturalization and an Alien Registration Number;  Be registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25); Selective ServiceSelective Service  Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;  Be enrolled at least half-time to be eligible for Direct Loan Program funds;  Maintain Satisfactory Academic Progress (SAP) in college or career school;  Sign statements on the Free Application for Federal Student Aid (FAFSA SM ) stating that  You are not in default on a federal student loan and do not owe money on a federal student grant and  You will use federal student aid only for educational purposes.

3. Texas Application for Student Financial Aid (TASFA)  Texas Application for Student Financial Aid is for students who are neither US Citizens or eligible non-citizens.  Must provide parents names, birthdates, household income information or statement from parent’s employer stating how much they made (it is never reported to any other governing authority).

4. What is Financial Aid  Financial Aid is money provided to students to help pay for school expenses:  Tuition & fees  Room & Board (food)  Transportation  Books  Miscellaneous living costs  Financial aid funds are:  Pell Grants and State Grants  Scholarships  Work-Study  Federal Direct Student Loans  Federal Parent Loans for Undergraduate Students (PLUS Loans)

5. Grants  Grants do not have to be paid back  Awarded based on financial need  As determined by the FAFSA  Federal and state grants available

6. Scholarships  Do not have to be paid back  Are awarded based on merit  Research what is available in community  To what organizations and churches do student and family belong?  Application process usually occurs during spring of senior year  Small scholarships add up!  Search engines:  www.collegeforalltexans.com  https://bigfuture.collegeboard.org/scholarship- search  www.fastweb.com  www.gocollege.com  www.finaid.org

7. Work-Study  Part-time job through the college or university  Work less than 15 hours per week  Usually minimum wage ($7.25/hr.)  Paid directly to the student once a month  Must submit FAFSA and qualify for PELL grant

8. Direct Stafford Loans  Subsidized Stafford Loan  Awarded based on financial need  3.8% interest rate  The U.S. Department of Education pays the interest on subsidized loans:  While you’re enrolled at least half-time (6 credit hours)  During periods of deferment  Unsubsidized Stafford Loan  Awarded regardless of financial need  6.8% interest rate  The U.S. Department of Education never pays the interest on unsubsidized loans Each college has additional Loan Steps students must complete prior to receiving their loans (Entrance Loan Counseling, completing Master Promissory Note, etc.)

9. Federal Direct Student Loan Limits CLASSIFICATIONS:DEPENDENT STUDENTS: ADDITIONAL UNSUBSIDIZED LOANS: FRESHMAN: 29 or less semester hours completed $3,500$2,000 SOPHOMORE: 30 or more semester hours completed, excluding developmental hours $4,500$2,000 CLASSIFICATIONS:INDEPENDENT STUDENTS: ADDITIONAL UNSUBSIDIZED LOANS: FRESHMAN: 29 or less semester hours completed $3,500$6,000 SOPHOMORE: 30 or more semester hours completed, excluding developmental hours $4,500$6,000 * The actual loan amount you are awarded will depend on other financial aid you receive and the amount of your budget (cost of attendance) as set by TC Financial Aid Office. Be aware that financial aid does not always cover the full cost of attending college.

10. PLUS Loans PARENT LOAN FOR UNDERGRADUATE STUDENTS (PLUS)  Parents of undergraduate dependent students apply  PLUS loans are credit based loans  Interest rate is 7.9%

11. Satisfactory Academic Progress GPA  Maintain a cumulative 2.0 GPA on all hours attempted at Temple College. The last grade of a repeated course will replace the original attempt(s) in the GPA. Completion Rate  Students must complete 67% of all courses attempted at Temple College (includes transfer courses and remedial courses).

12. How Do I Apply for Financial Aid  For the 2016-2017 school year, you will need Financial Information from 2015:  Student’s social security number  2015 Federal Income Tax Return and W-2 forms for student and parents (if student is dependent)  Your alien registration or permanent residence card (if you are not a U.S. citizen).

13. www.fafsa.ed.gov The FAFSA is the FREE Application for Federal Student Aid You must reapply every year, beginning January 1 st. BEWARE OF SCAMS requiring fees to complete the FAFSA or help you find financial aid resources.

14. Both Student and Parent Create FSA ID www.fsaid.ed.gov___________________________ Allows applicant and parent to sign FAFSA electronically Allows applicant and parent to sign FAFSA electronically Each student and parent should create their own FSA ID with their individual email addresses Each student and parent should create their own FSA ID with their individual email addresses It is a legal signature and should not be shared with anyone It is a legal signature and should not be shared with anyone Can be used to “link” FAFSA to IRS to streamline process. Can be used to “link” FAFSA to IRS to streamline process. May be used by students and parents throughout the process, including subsequent school years May be used by students and parents throughout the process, including subsequent school years Needs to be written down or saved for future use! Needs to be written down or saved for future use!

15. Some FAFSA Priority Application Deadlines March 1Baylor University University of Mary Hardin Baylor March 15Texas A&M University Sam Houston State University Texas State University Texas Tech University University of Texas University of Texas at Arlington June 1 Temple College Blinn College CHECK WITH YOUR COLLEGE TO CONFIRM DATES AND DEADLINES!!!

16. Are you a Dependent or Independent student?  Were you born before Jan. 1, 1992?  Are you married? (Answer “Yes” if you are separated but not divorced.)  You have a child you will support between July 1, 2015, and June 30, 2016?  Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2015?  At any time since you turned age 13, were both your parents deceased, were you in foster care, or were you a dependent or ward of the court?  Has it been determined by a court in your state of legal residence that you are an emancipated minor or that you are in a legal guardianship?  At any time on or after July 1, 2013, were you determined to be an unaccompanied youth who was homeless or at risk of being homeless, as determined by (a) your high school or district homeless liaison or (b) the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development?

17. IRS Data Retrieval Tool  You must use the link option to retrieve the 2015 tax return information for the student and the parent (if a dependent student).  If you do not use the IRS Data Retrieval Tool –  You will be required to submit a copy of your 2015 IRS tax return transcript to your school.  Request it online at http://www.irs.gov/Individuals/Get- Transcript  Or call 1-800-908-9946, select “Option 2” and 2014

18. Common Questions on the FAFSA Should I send my FAFSA to more than one college? What if I decide to go to a different college? If my parents are divorced, whose information do I need? Report the information of the parent with whom you lived the most during the 12 months preceding the date you completed the FAFSA. It does not make a difference which parent claims you as a dependent for tax purposes. I’ll be filing a tax return this year but I probably won’t get around to it until April. How should I answer the financial questions? Should I wait to fill out this form after I’ve filed my tax return? Don’t wait until April. Many schools award aid on a first-come, first-served basis. Also, you may not be eligible for state aid if you wait until April to submit your FAFSA. Many state aid deadlines are early in the calendar year. What if I have questions while completing the FAFSA? Go to www.fafsa.gov and select the “Help” icon at the top of any page of the application. The “Help” page lists options for getting additional assistance, including a live help option. You can also call 1-800-4-FED-AID (1-800-433-3243).www.fafsa.gov

19. What do we do now?

20. Timeline December  Gather your tax receipts, pay stubs, bank statements, etc and prepare to file your income taxes and complete your FAFSA before your college’s FAFSA Priority Deadline January / February  If you are not able to file your Income Taxes prior to the FAFSA Priority Deadline, file your FAFSA online using either 2014 financials or best estimating 2015 financials. On FAFSA, select “Will File Taxes.”  File your taxes as soon as possible, then go back into FAFSA 3 weeks later and use “IRS Data Retrieval Tool” to link to IRS.  Many Scholarships begin accepting applications in January so start applying! March  Many schools begin awarding Financial Aid in March. You should receive a Financial Aid award letter or request for additional required forms.  Make Sure you accept your financial aid award and follow any additional steps.

21. Timeline (cont’d) April  Remember to file your IRS federal income tax return no later than April 15. If you submitted your FAFSA before you filed your taxes, make sure you go back into your FAFSA and use the IRS Data Retrieval Tool to “link to the IRS.” June / July  First time Federal Student Loan borrowers often have to complete Entrance Loan Counseling and Master Promissory Note.  Confirm with Financial Aid office that you have completed everything required.  Double check on any outside financial aid or scholarships you may be receiving.  Register for classes for Fall. August  Establish how financial aid disbursement will come to you – direct deposit to bank account or check. Set up accounts.  Research textbook options and establish a plan.

22. Buy and Sell Textbooks  www.amazon.com www.amazon.com  www.chegg.com www.chegg.com  www.slugbooks.com  www.bookgator.com  www.half.com  Temple College allows students to charge their books to their financial aid accounts if purchased through the TC Bookstore.

23. DO NOT FORGET!  Check for Financial Aid Award Letter  Are more forms required? (Verification form, tax return transcript, copy of SS card, etc.)  Accept / decline financial aid  Be aware of deadlines  Loan counseling dates  Disbursement dates and methods of disbursement  Bookstore charge dates  Satisfactory Academic Progress  Work-study opportunities  When to file FAFSA renewal

24. Summary  Apply for college at www.applytexas.org  Apply for Financial Aid at www.FAFSA.ed.gov  Read school websites for information concerning processes and deadlines.

25. Questions? financialaid@templejc.edu