1 FAFSA DAY 2013 Applying for Financial Aid 2013-2014.

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FAFSA DAY 20FAFSA DAY 20 1313 Applying for Financial Aid

2013-2014

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Sponsors/Partners:

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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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Federal government

State government

Colleges and universities

Private agencies, companies, foundations, and parents’ employers

Sources of Financial Aid

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Types of Applications

FAFSACSS/Financial Aid PROFILEInstitutional financial aid

application

Deadlines and requirements vary by institution

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FAFSA on the Web

Internet application used by students and parents to complete electronic FAFSA at www.fafsa.gov

Sophisticated on-line edits and skip logic so errors are less likely to be made

Instructions incorporated throughout application

Student and at least one custodial parent should get a federal PIN at www.pin.ed.gov

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FAFSA on the Web Password

Before starting the on-line FAFSA you will be asked to create a password

This allows you to save your application and return to it at a later time

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Federal PIN PIN (Personal Identification Number) serves as the

electronic signature

Both student and at least one custodial parent need a PIN to sign the FAFSA electronically

May also be used to: Utilize IRS Data Retrieval Tool Correct/Update FAFSA Add additional colleges to receive FAFSA data

Needed each year the student completes the FAFSA

Apply for PINs at www.pin.ed.gov

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FAFSA on the Web Worksheet

Used to collect information for the on-line application

Does not include all questions from the FAFSA

Do not mail this worksheet

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The FAFSA on the Web Worksheet—A Four Section FormThe FAFSA on the Web Worksheet—A Four Section Form

Section 1 – Student information

Section 2 – Student dependency status

Section 3 – Parent financial information for dependent students

Section 4 – Student financial information

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Section 1(page 2)

STUDENT INFORMATION

Section 1(page 2)

STUDENT INFORMATION

Social Security NumberDemographic InformationCitizenship StatusSelective Service Registration

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If U.S. citizen, status will be confirmed by Social Security match If eligible noncitizen, status will be confirmed by Department of

Homeland Security (DHS) match. This includes: U.S. permanent residents with I-551 Conditional permanent residents with I-551C Eligible noncitizens with I-94 with certain designations Certification from Department of Health and Human Services with

designation of “Victim of human trafficking” If neither a citizen or eligible noncitizen, the student is ineligible

for federal/state aid, but may be eligible for institutional funds

Section 1Citizenship Status

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High School Completion Status

When the student begins college in the 2013-2014 school year, what will be the student’s high school completion status?High school diplomaGED certificateHome schooledNone of the above

Section 1High School Completion Status

An important question NOT on the Worksheet:

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Section 1High School Completion Status

If student selects High School diploma they will be required to list the high school they received or will receive diploma from.

FAFSA on the Web allows students to search for high school by name, city and state.


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Section 1Interest in Receiving Federal Work-Study

FAFSA on the Web asks If the student is interested in being considered for Federal Work-Study.

Indicating interest does not obligate the student to work nor will it cause the student to lose grants and scholarships.

Answering “no” may restrict the student’s opportunity to utilize Federal Work-Study.


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Section 1School Selection

FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information

list all schools where student is applying for admission. If school code is not known you may search by city, state or college name. If the student is applying to more than ten colleges, wait for the processed Student Aid Report (SAR) before deleting/adding additional colleges.


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Section 2(page 2)

STUDENT DEPENDENCY STATUS

Section 2(page 2)

STUDENT DEPENDENCY STATUS

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Section 2Determination of Student Dependency Status

24 or older Married Graduate Student Serving on active duty in U.S. Armed Forces Veteran of U.S. Armed Forces Have children or dependents who receive more than half of their

support In foster care, dependent or ward of the court or parents were

deceased any time after age 13 Emancipated minor In legal guardianship Homeless, risk of being homeless, or unaccompanied youth

To be considered independent the student must meet one of the following criteria

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Section 3(page 3)

PARENT INFORMATION

Demographic Information

Financial Information

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Section 3 Who is Considered a Parent?

See instructions on page 3 of FAFSA on the Web Worksheet

Biological or adoptive parent(s)

Stepparent (regardless of any prenuptial agreement)

In case of divorce or separation, provide information about the parent the student lived with more in the last 12 months, and stepparent if that parent is remarried.

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Section 3 Who is Not a Parent?

Do NOT provide information on: Foster parents or legal guardians

If the student is in foster care or has a legal guardian, he/she is automatically considered an independent student

Grandparents or other relativesThe student must attempt to get biological parental

informationColleges may use Professional Judgment to allow the

student to file as independent in special situations

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Section 3 Parents’ Tax Return Filing Status for 2012

The student will be asked to provide information about parent tax filing status for 2012: If his/her parents have completed their 2012 federal income tax

return, mark the first box If they have not as yet filed, but plan to file a 2012 federal

income tax return, mark the second box If they have not, nor will not, file a 2012 federal income tax

return and are not required to do so, mark the third box

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Section 3 Parent 2012 Adjusted Gross Income

Reminder: If the answer is zero or the question does not apply, enter 0

If the student’s parents have not yet filed their 2012 federal tax return, use estimated information for this question

If the student’s parents have completed their 2012 federal tax return, use actual 2012 tax return information to complete this item.

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Section 3 Money Earned from Work by Parent(s) in 2012

Use W-2 forms and other records to list all income earned from work in 2012 (including business income earned from self-employment) for father/stepfather

and/or mother/stepmother

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Section 3Dislocated Worker

The student will be asked to check if the father/stepfather and/or mother/stepmother is a dislocated worker

A person may be considered a dislocated worker if he/she: is receiving unemployment benefits due to being laid off or losing a

job and is unlikely to return to a previous occupation has been laid off or received a lay-off notice from a job was self-employed but is now unemployed due to economic

conditions or natural disaster is a displaced homemaker

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Section 3 Parent 2012 U.S. Income Taxes

What was the amount parents’ U.S. income tax for 2012?

Found on federal tax return: IRS Form 1040-Line 55; 1040A- Line 35; or 1040 EZ-Line 10

Not the amount withheld from parents’ paychecks


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Section 3IRS Data Retrieval Tool

Used to upload federal tax data directly to FAFSA on the Web

Available after February 1st

2012 federal tax return must be submitted If student or parents initially estimate tax data to

complete FAFSA, IRS Data Retrieval tool should be used to update FAFSA and submit actual tax data

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Section 3 Parents’ Household 2011 or 2012 Benefits Received

Indicate if the student, his/her parents, or anyone in the parents’ household received benefits in 2011 or 2012 from any of the federal programs listed

Actual amounts received are not reported

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Section 3 2012 Parent’s Additional Financial Information

Check all items received or paid in 2012 FAFSA on the Web will ask for amounts

received/paid

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Section 3 2012 Parent Untaxed Income

Check all that apply in 2012 FAFSA on the Web will ask for amounts

received

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Section 3 Parent Assets

Parents may be asked to report:Current balances of cash, savings and checking accountsNet value of investments such as real estate, rental properties, money market and mutual funds, stocks, bonds, college savings and other securitiesNet value of businesses and investment farms

Note: Do not include the value of your primary residence, the value of life insurance, retirement accounts and small family businesses as described in the FAFSA instructions.

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Section 3 Parent Household Size

Parent Number in Household Include in the parents’ household:

The student Parent(s) Parents’ other dependent children, if

the parents provide more than half their support or the children could answer “no” to every question in Section 2

Other people, if they now live with the parents and will continue to do so from 7/1/13 through 6/30/14, and if the parents provide more than half their support now, and will continue to provide support from 7/1/13 through 6/30/14


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Section 3 College Students in the Parent Household

NOTE: Some financial aid offices will require proof that other family members are attending college

College Students in the Parent HouseholdAlways include the student even if he/she will attend college

less than half-time in 2013-2014Include other household members only if they will attend at

least half-time in 2013-2014 in a program that leads to a college degree or certificate

Do not include the parents


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Section 4(page 4)

STUDENT FINANCIAL INFORMATION

Section 4(page 4)

STUDENT FINANCIAL INFORMATION

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Section 4Student Information

Questions in Section 4 are identical to the parent financial questions we covered in Section 3If the student is single, ignore references to

“spouse”

If the student is married, report spouse’s income and assets

Skip the student’s adjusted gross income question if the student is not required to file taxes

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Submitting the FAFSA

Student and parent sign the online application by providing PIN or mailing a signature page

Confirmation will be received after submitting application Print the confirmation page for your recordsYou may also email the confirmation

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Special Circumstances

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 assetsUnusual medical or dental expenses not covered by

insuranceFinancial responsibility for elderly grandparents

Or any other unusual circumstances that affect a family’s ability to contribute to higher education

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What Happens Next?

FAFSA information is sent to colleges listed on the application and Students receive Student Aid Report (SAR) from federal

processor

Students and families review SAR for important information and accuracy of data

Colleges match admission records with financial aid applications

and determine aid eligibility

Colleges send notices of financial aid eligibility to admitted

students who have completed all required financial aid forms

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Student Aid Report (SAR)

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 1 Keep a copy of the SAR with other financial aid

documents

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Questions?Questions?

Please remember to complete the FAFSA Day Survey before you Please remember to complete the FAFSA Day Survey before you leave!leave!

You can also share feedback with us at You can also share feedback with us at www.facebook.com/FAFSADayMA or or www.twitter.com/FAFSADayMA

THANK YOUTHANK YOU

1 FAFSA DAY 2013 Applying for Financial Aid 2013-2014.

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