Applying for Financial Aid 2013-2014. Sponsored by: Presented by:
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Applying for Financial Aid2013-2014
Sponsored by:
Presented by:
Types and sources of financial aidRequired financial aid application formsHow to complete the Free Application for Federal
Student Aid (FAFSA) and the Cal Grant GPA Verification Form
Answers to your individual questions
What Will You Learn At This Workshop?
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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
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Sources of Financial Aid
Federal government
State government
Colleges and universities
Private agencies, companies, foundations, and parents’ employers
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Cal Grants
Cal Grant A Entitlement Awards – for high school seniors and recent high school grads with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, who demonstrate financial need
Cal Grant B Entitlement Awards – for high school seniors and recent high school grads with a GPA of at least 2.0, who come from disadvantaged or low income families, whose family income and assets are below the state ceilings, and who demonstrate financial need
Cal Grant C Awards - for students from low income families pursuing vocational programs of study
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To be eligible for a Cal Grant, the student must also:be a U.S. citizen, eligible
noncitizen, or AB540 student
be a California resident attend an accredited
California college or university at least half-time in 2013-14
Eligibility for Cal Grants
Possible Cal Grant and Federal Pell Maximum Awards
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If you qualify for Cal Grant, amounts vary depending on the school that you attend, your financial need, your year in college and your enrollment status (full or part-time).
If you qualify for the Federal Pell Grant, amounts vary depending on your family contribution and your enrollment status (full or part-time).
Other eligibility requirements may apply.
Cal Grant* (Up to $12,192)1 FAFSA or
California Dream Act Application2 Your GPA3 Apply by March 2
Federal Pell Grant (up to $5,550)1 FAFSA
= Up to $17,742 maximum annually
* Check for eligible schools at: www.csac.ca.gov
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Residency and Cal Grant Eligibility for 2013-2014
• parents have been legal residents of California for one year immediately prior to September 20, 2013, or
• student has lived in California with other legal California residents, other than parents, for two years immediately prior to September 20, 2013, or
• parents who are active duty military, stationed in California at the time the student enrolls in college, or parents’ military home of record is California
• If unmarried and under 18 years of age, the student will be considered a legal resident of California if:
• If married or 18 years of age or older, the student establishes his/her own residence status. The student must be a legal resident of California for one year prior to September 20, 2013
• Undocumented students who qualify for AB540 in-state tuition satisfy Cal Grant residency requirements
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2013-2014 Cal GrantApplication Requirements
Check with your high school or college counselor for more details on how to file the Cal Grant GPA Verification Form, required of all students
• By March 2, 2013, complete and submit:Free
Application for Federal
Student Aid (FAFSA)
ORCal Grant
GPA Verification
Form
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If eligible under AB540, students should complete theCalifornia Dream Act Application: www.caldreamact.org
California Chafee Grant• The California Chafee Grant program provides up to
$5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S., based on available funding
• To be eligible, foster youth must have been in California foster care on their 16th birthday and not have reached their 22nd birthday before July 1, 2013
• Foster youth are encouraged to apply during their senior year of high school
• To apply, the foster youth must complete:• 2013-2014 FAFSA• California Chafee Grant Program Application• AB540 students may also be eligible
To apply for a Chafee Grant, go to:
www.chafee.csac.ca.gov
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Types of ApplicationsFAFSA
Cal Grant GPA Verification Form Other applications or forms as required by the
college such as:
• 2012 federal tax returns (along with all schedules and W-2s) or other income documentation
• CSS/Financial Aid PROFILE
• Institutional Scholarship and/or Financial Aid Application
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Undocumented student covered under AB540 should complete the California Dream Application
FAFSA Information & Tips
File early, but no later than March 2, 2013
Use estimated 2012 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
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FAFSA on the Web (FOTW)
• Internet application used by students and parents to complete electronic FAFSA at:
www.fafsa.gov• Sophisticated on-line edits and skip logic
help avoid errors• On-line help is available for each question• Student and one custodial parent should
get a federal PIN to sign FAFSA at:www.pin.ed.gov
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PIN (Personal Identification Number) Needed to sign and access the FAFSA
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
PIN will be generated only if a valid email address is provided
Federal PIN
Apply for student and parent PINs at:
www.pin.ed.gov
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Another Useful Form -FAFSA on the Web Worksheet
Thought not a required form, the 2013-2014 FAFSA on the Web Worksheet may: •Help some students prepare to complete the FOTW•Be used for the January 1, 2013 through June 30, 2014 federal aid application cycle.
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Before starting the FAFSA on the Web (FOTW), gather:• Student driver’s license • Student Alien Registration Card• Student and Parent
Social Security cards 2012 W-2 Forms and records of money earned and other taxable benefits 2012 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 2013-14 FOTW Worksheet (optional)Create a file for copies of all financial aid documents submitted
Getting Ready
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FAFSA on the Web (FOTW)
The 2013-2014 FAFSA on the Web may be used for the January 1, 2013 through June 30, 2014 federal student aid application cycle
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Section 1Section 1 – Student DemographicsSection 2Section 2 – School SelectionSection 3Section 3 – Dependency StatusSection 4Section 4 – Parent DemographicsSection 5 Section 5 – Financial InformationSection 6 Section 6 – Sign and SubmitSection 7 Section 7 – Confirmation
The FOTW A Seven-Section Online Form
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Go to Go to www.fafsa.govwww.fafsa.gov to complete and submit your application. to complete and submit your application.
For more information on federal student aid,For more information on federal student aid,
visit visit www.StudentAid.govwww.StudentAid.gov
You can also talk with your college’s financial aid officeYou can also talk with your college’s financial aid office
about other types of student aid that may be availableabout other types of student aid that may be available
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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 assetsDeath or serious illnessNatural 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, orAny other unusual circumstances that affect a family’s ability
to contribute to higher education
Special Circumstances
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Gather necessary documents ahead of timeComplete a FAFSA on the Web available at:
www.fafsa.govAllow ample time to complete the online FOTW
application for submission by the deadlineCheck the FAFSA on the Web for accuracy prior to
submissionSave all work periodicallySign the application using student’s and one custodial
parent’s PINsPrint out a copy of the FAFSA before submitting data Keep a copy of the Submission Confirmation Page
Application Filing TipsFAFSA on the Web
What Happens Next?
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Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor
Students who complete FAFSA and Cal Grant GPA Verification Form
receive California Aid Report (CAR)
Students and families review SAR and CAR for important
information and accuracy of data
Colleges match admission records with FAFSA and other
required financial aid forms to determine aid eligibility
Colleges provide notices of financial aid eligibility to admitted students who have completed all required financial aid forms
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After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment will be
sent if student provides an email addressA paper SAR will be mailed if no student e-mail address is provided
An electronic copy of the data will be sent to each college or university listed by the student
in Section 2Keep a copy of the SAR with other financial aid
documents
Student Aid Report (SAR)
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Some students may be required to verify the information reported on the FAFSA If selected for verification, the tax information of federal tax filers will be verified
through The IRS Date Retrieval Process, or IRS Tax transcripts if requested by the college or university
Non-tax filers selected for verification may be asked to provide Signed statements confirming that they did not file a 2012 federal tax return and were
not required by IRS to do so Copies of W-2s or other income documentation from each employer , if any income was
earned from work All selected aid applicants will also be asked to verify certain demographic data
listed such as Household size and number in college Child Support paid and SNAP, if reported on the FAFSA
Federal Verification
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By opening a WebGrants Account a student can: Check Cal Grant award status 24/7Confirm student’s high school graduation as required Make changes to Cal Grant school choicesView how much a Cal Grant is worth at
different California colleges and universitiesView Cal Grant payment history Create a WebGrants account at:
www.webgrants4students.org
Check Your Cal Grant
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Submit all required forms, including the 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!
Summary of the Financial Aid Process
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FAFSA on the Web – Live HelpPhone 1-800-4-FED-AID
(1-800-433-3243)E-mail the U.S. Department of
Education at: FederalStudentAidCustomerService@ed.gov
If You Need Help at Any Time
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