J.W. NORTH HIGH SCHOOL FINANCIAL AID NIGHT

HOSTED BY NORTH COUNSELORS:

Rolando FloresAlison LattimerErin MartinezKeri O’Neill

Community Assistant/translator: Gaby Cisneros

Agenda

Welcome and Introductions

Financial Aid Basics/FAFSA— Erin Martinez, North Counselor/FAFSA Coordinator

Scholarships—Mr. Flores, North Scholarship Coordinator

Q & A

© 2013 CASFAA

Finding Money for CollegeBasics of Financial Aid and the FAFSA

TOPICS

• What is financial aid?• Who can get it?• How much can I get?• How do I apply?• What happens next?• Where can I get more info?

What is financial aid?

• Money to pay for college or career school• Grants• Loans• Work-study• Scholarships

Who can get federal student aid?

• U.S. citizen or permanent resident• High school graduate/GED holder• Eligible degree/certificate program• Valid Social Security number• Males registered for Selective Service• Satisfactory academic progress in college/career

school

www.studentaid.gov/eligibility

Who can get other kinds of financial aid?

• California, colleges, and private scholarships have their own eligibility criteria.

• Be sure you know what you need to do to qualify.

--FAFSA, Dream Act App

--Myth vs. Fact

--AB 540

How much federal student aid can I get?

In general, depends on your financial need.•Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA)•EFC comes from what you report on FAFSA•COA is tuition, fees, room and board, transportation, etc.

COA – EFC = financial need

How much federal student aid can I get?Maximum amounts for the major programs for a dependent freshman in 2015-2016:•Federal Pell Grant: 2015-16 max award TBD [$5,730 in 2014-15]•Direct Subsidized and Unsubsidized Loans: $5,500 total•Federal Work-Study: depends on funds available at school•Direct PLUS Loan (for parents): COA minus other aid receivedHandout: Do You Need Money for College?

How much federal student aid can I get?

For early estimate, use FAFSA4caster:•Go to www.fafsa4caster.ed.gov •Enter some financial information•Get an estimate

How much state, school, and private scholarship money can I get?

Depends on the program; do your research!

•Cal Grants --up to $12,192 for UC, $5,472 CSU, $8,056 ICCwww.csac.ca.gov •UC Blue and Gold Opportunity Plan (if income less than $80K) www.universityofcalifornia.edu•Middle Class Scholarship—CSU/UC (Income Ceiling $150K)•Ask college financial aid offices for info about aid available at their schools (check online)•Free scholarship search at

www.studentaid.gov/scholarships

Mr. Flores…SCHOLARSHIPS

• GAP --Need not fully met with other forms of aid• SEARCHING --Caution: Handout: Don’t Get Scammed… --National vs. Local --North Scholarship Newsletter (www.jwnorth.org, under

‘Quick Links’)--Career Cruising

• APPLYING--Apply early--Follow directions--Be organized--Check your work--Keep copies

How do I apply for aid?

• FAFSA www.fafsa.gov

OR…• Dream Act Application www.csac.ca.gov

AND MAYBE…• CSS Profile (for some privates)https://student.collegeboard.org/css-financial-aid-profile

Note: Check with your school’s financial aid office

FAFSA OR DREAM ACT APPLICATION?FAFSA OR DREAM ACT APPLICATION?

Complete the FAFSA if…

Complete the Dream Act Application if…

You are a US citizen or eligible non-citizen. You must have a Social Security number or an Alien registration number.

You are not a US citizen and do not have a Social Security Number or an Alien Registration number. Or you have a social security card issued via DACA (it will say “for work only” across the top.)

Why use a PIN?•Sign FAFSA electronically•Access your FSA records online•Make corrections

Who can apply?•Students•Parents with SSN

You need a PIN! Personal Identification

Number (PIN)

…and at least one parent does too.

Access the PIN Website www.pin.ed.gov

Remember…KEEP YOUR PIN PRIVATE!!

DREAMERS—no PIN for student, PIN for parent.

Completing the FAFSA

www.fafsa.ed.govBe careful of copycat

websites! Remember…it’s .gov. And it’s always FREE!

See the ‘Cheat Sheet’ FAQs, and common errors to avoid.

Complete your FAFSA or Dream Act Application at a Cash for College Workshop! See flyer for a workshop near you!

FAFSA on the Web (FOTW)

Using FOTW•Ask Questions•Browse Help •Deadlines•Announcements…

…and more

www.fafsa.ed.gov

© 2013 CASFAA

FAFSA on the Web (FOTW)

Start Here:

•Start New FAFSA•Corrections•Signatures•Continuing a saved FAFSA•Renewal FAFSA

© 2013 CASFAA

FAFSA Overview: 7-Step Process• Step 1: About the Student• Step 2: School Selection• Step 3: Determines Dependency Status• Step 4: Parent Financial Information• Step 5: Student Financial Information• Step 6: Signatures (PIN, or sig. page)• Step 7: Confirmation

STEP 1: Student DemographicsCheck for:

•Name matches student social security card•Transposed numbers•Incorrect data in numeric fields

Tip: Use the Help and Hints section on each page.

Simple mistakes can delay determining eligibility for aid!

Student Eligibility

Students with a high school diploma must:

•Identify their high school

•Select Confirm to find a match

•Select the school from the list or select Next to continue

© 2013 CASFAA

Step 2: School Selections

Add a College•Federal School Code•Search by:

o State o Cityo Name

Housing Plans•On campus•With parent•Off campus

© 2013 CASFAA

Step 3: Dependency Determination

NO to all questions:

•makes the student “dependent”•Must submit parent information

Note: child must be supported financially—more than 50%...meaning if the student has a child

© 2013 CASFAA

Divorced or Separated Parents

• Provide information for the parent(s) with whom the student lived with most during the last 12 months

• If the student spent equal time with both parents, use the information for the parent who provided the greatest amount of financial support for the student

© 2013 CASFAA

Remarried Parent

Provide information about the parent and stepparent regardless of:

•Agreement of “nonsupport”•Prenuptial agreement•Divorce decree designating tax filing exemptions

Note: A parent claiming the student on their tax return need not be the parent required to provide data on the FAFSA

© 2013 CASFAA

Step 4: Parent Information

• Demographics• Marital status

will determinewhat questionsare asked ofthe parent(s)

© 2013 CASFAA

NO Parental Information

Do not provide parent information for•Foster parent(s)

• Student is automatically considered an independent student

•Grandparents, other relatives, or legal guardian(s)• Colleges may use professional judgment to allow the student to file as

an independent student• Exception: Adoptive parents

© 2013 CASFAA

Parent Income Information

IRS Data Retrieval Tool (DRT)

•Transfers information directly from the IRS

• Requires PIN

• Available February 2nd

• After filing tax return

© 2013 CASFAA

Parent Income & Asset Information

• Same questions asked of students

• Selecting a box displays additional fields to complete

Note: Asset filtering question

© 2013 CASFAA

Income Reporting and VerificationSelected students and parents must submit income and asset documentation

•Using the IRS Data Retrieval Tool (unchanged) meets verification requirements for some income information

•Otherwise, only an IRS Tax Return Transcript will meet verification requirements

© 2013 CASFAA

Step 5: Student Income and Assets

• Same questions asked of parents

• If student will not file a tax return, they may only be asked:• Amount earned from work

• Asset information

© 2013 CASFAA

Step 6: Student Sign and SubmitSelect signature method•PIN or printed signature page

Terms of Agreement•$$$ for education expenses only•Not in default on a federal student loan •Not owe a federal Title IV grant•Receive one Pell Grant from one college at a time

© 2013 CASFAA

Parent Sign and SubmitSelect signature method•PIN or printed signature page

Terms of Agreement•Provide documents to verify accuracy of information•IRS verification

© 2013 CASFAA

Parents without SSN must submit signature page—cannot apply for PIN.

Step 7: Confirmation Page• Confirmation #

• DRN

• Optional feature: transfer FAFSA data

• Eligibility information

• College information

2014-2015

© 2013 CASFAA

Student Aid Report (SAR)

• Sent electronically or by mail

• Summarizes FAFSA information

• Displays EFC and DRN (upper right-hand area on the SAR)

EFC- Expected Family Contribution;used to determine eligibility for federal aid

DRN- Data Release Number; used to send SAR to additional schools

© 2013 CASFAA

What happens next?

• Each school will tell you how much aid you can get at that school.

• Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.

Where can I get more info?

• StudentAid.gov• Info about aid programs• Links to free scholarship and college searches

• 1-800-4-FED-AID• Info about aid programs• Help with FAFSA

Compare Your Financial Aid Awards• Wait until you hall all award offers before deciding.

• Ask questions! Your counselor can help—it can be confusing.

• Compare apples to apples…

--What’s the bottom line net- cost to you? --Grants/Scholarships?

--Loans (they’re optional!): subsidized vs. unsubsidized?federal vs. private?

Online comparison tool @ www.collegeboard.org

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Questions?