Applying for Financial Aid 2012-2013 Applying for Financial Aid 2012-2013.

Applying for Applying for Financial Aid Financial Aid 2012-20132012-2013

Types of Financial Aid 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 AidSources of Financial Aid

• Federal government

• State government

• Colleges and universities

• Private agencies, companies, foundations, and parents’ employers

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Cal GrantsCal 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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California Chafee GrantCalifornia Chafee GrantCalifornia Chafee GrantCalifornia 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, 2012

• Foster youth are encouraged to apply during their senior year of high school

• To apply, the foster youth must complete:• 2012-2013 FAFSA• California Chafee Grant Program Application

To learn more about the Chafee Grant, go to:

www.chafee.csac.ca.gov

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Types of ApplicationsTypes of Applications

• FAFSA

• Cal Grant GPA Verification Form

• Other applications or forms as required by the college such as:

• 2011 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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FAFSA Information & TipsFAFSA Information & Tips• File early, but no later

than March 2, 2012

• Use estimated 2011 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 FAFSA on the Web

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• Internet application used by students and parents to complete electronic FAFSA at:

www.fafsa.gov

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

• On-line help is available for each question

• Student and one custodial parent should get a federal PIN at:

www.pin.ed.gov

Federal PIN Federal PIN

• PIN (Personal Identification Number) serves as the electronic signature on ED documents

• 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

• If an e-mail address is provided, PIN will be e-mailed to the PIN applicant within minutes

Apply for student and parent PINs at:

www.pin.ed.gov

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Getting ReadyGetting Ready• Before starting the FAFSA, gather:

• Student driver’s license • Student Alien Registration Card• Student and Parent

Social Security cards

2011 W-2 Forms and records of money earned and other taxable benefits

2011 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

Create a file for copies of all financial aid documents submitted

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Section 1Section 1Student NameStudent Name

• The FOTW will ask for the student’s last name, first name, and middle initial

• Make sure to report the student’s name exactly as it appears on the student’s Social Security card

JONES SUSAN

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Double check the student’s Social Security Number when entering it on the FOTW. Both student name and Social Security Number will be compared through a database match.

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Section 1 Section 1 Student Social Security NumberStudent Social Security Number

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Section 1 Section 1 Citizenship StatusCitizenship Status

• 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

• If neither a citizen or eligible noncitizen, the student is ineligible for federal/state aid, but might still be eligible for institutional funds

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Section 1 Section 1 Alien Registration NumberAlien Registration Number

If eligible noncitizen, write in the student’s eight- or nine-digit Alien Registration Number (ARN)

• Precede an eight-digit ARN with a zero

• Copy of the student’s Permanent Registration Card might be requested by the financial aid office

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Section 1 Section 1 Undocumented StudentsUndocumented Students

• if the student is applying to any California public college or university, check to see if he/she might be eligible for in-state tuition/fee costs

• check with colleges and universities to see if institutional financial aid is available

• apply for all private scholarships for which the student may be eligible

• watch for changes in federal and state laws regarding the eligibility of undocumented or under-documented students

• start inquiring in elementary, middle or high school to see if it is possible for younger students to become permanent residents

For more information and a list of scholarships, go tohttp://www.maldef.org/leadership/scholarships/2010_Scholarship_List.pdf

www.latinocollegedollars.org www.finaid.org/otheraid/undocumented.phtml

NOTE: if the student is undocumented

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Section 1Section 1 Selective Service RegistrationSelective Service Registration

• Male students who are between the ages of 18 and 25 years must be registered with Selective Service to receive federal and state aid

• Answer “Register me” only if you are male, aged 18-25, and have not yet registered.

• The student may also register by going to:

www.sss.gov

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Section 1Section 1Student Aid Eligibility Drug ConvictionsStudent Aid Eligibility Drug Convictions

• If the student has never attended college since high school, check “I have never attended college”

• If the student has attended college since high school but never received federal student grants, loans, or work-study, check “I have never received federal student aid”

• If the student has received federal student aid and has never had a drug conviction, check “I have never had a drug conviction”

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Section 1Section 1 Student Aid Eligibility Drug ConvictionsStudent Aid Eligibility Drug Convictions

• If the student was convicted of the possession or sale of illegal drugs while receiving federal student aid, the student will be asked to complete more questions about the drug offense

• Simply having a drug conviction does not mean that the student will be ineligible for federal and/or state student aid

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Section 1Section 1School SelectionSchool Selection

• The student will be asked to select the housing plan that best describes the type of housing the student expects to have while attending each listed school

• The choices for housing are:• On Campus • With Parent• Off Campus

• The student’s choice of housing may affect the amount of financial aid for which he/she is eligible. It is usually more expensive to live on or off campus than with parents or relatives

• Remember, selecting the On Campus housing option is not an application for On Campus housing. Check with the colleges/ universities for housing information when you apply for admission

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An important question NOT on the Worksheet:

Section 3Section 3Parent InformationParent Information

See Page 3 of FAFSA on the Web Worksheet about who is considered a parent

– Biological or adoptive parent(s)

– In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months

– Stepparent (regardless of any prenuptial agreements)

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Section 3 Section 3 Who is Not a ParentWho 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 relatives are not considered parents unless they have adopted the student• In this case, the student must attempt to get

biological parental information

• Colleges may use Professional Judgment to allow the student to file as independent

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0

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Section 3Section 3Parent InformationParent Information

• If the answer to any question is zero or the question does not apply, enter 0:

• Report whole dollar figures:

• Recommendation: If your parents have not filed their 2011 federal tax return, use W-2 forms and/or other employment records - such as final 2011 pay check stubs - to estimate total income

• Remember, rather than miss any filing deadline, use estimated 2011 income information

(no cents)

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Section 3 Section 3 Parent InformationParent Information

• If the student is providing father’s/stepfather’s and/or mother’s/stepmother’s information, the student will need those parents’:

• Social Security Numbers• Names• Dates of birth

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Section 3Section 3 Parent Dislocated WorkerParent Dislocated 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 or 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 3Section 3 2011 Additional Financial Information2011 Additional Financial Information

The student will be asked to report if his or her parents received or paid any of the following items in 2011 (check all that apply)

• America Opportunity, Hope or Lifetime Learning tax credits• Child support paid• Taxable earnings from work-study, assistantships, or fellowships• Taxable grant and scholarship aid reported to the IRS• Combat pay or special combat pay• Cooperative education program earnings

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Section 3Section 3 Parent Cash, Savings, and CheckingParent Cash, Savings, and Checking

• Some parents may be asked to report the current balances of their cash, savings, and checking accounts as of the day they complete the FAFSA

• They may also be asked to provide information about the net value of their investments such as real estate, rental property, money market and mutual funds, stocks, bonds and other securities

• In addition, they may be asked questions about the net value of their businesses and investment farms

• They should not include the home in which they live, the value of life insurance and retirement plans, or the value of a family-owned and controlled small business

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Section 3Section 3Parents’ 2011 U.S. Income TaxesParents’ 2011 U.S. Income Taxes

• What was the amount parents paid in U.S. income tax for 2011?

– Use U.S. income tax paid (or to be paid)

• not the amount withheld from parents’ paychecks

An important question NOT on the Worksheet

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Section 3Section 3Parents’ 2011 Tax ExemptionsParents’ 2011 Tax Exemptions

• Enter the parents’ tax exemptions for 2011 • Be sure to include all persons being

claimed on the parents’ 2011 federal tax return, regardless of whether they are included in the parents’ household size question

An important question NOT on the Worksheet

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Section 4Section 4Student InformationStudent Information

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

references to “spouse”

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

• The questions in Section 4 ask:

• Which 2011 federal tax return the student filed or will file• The student’s 2011 Adjusted Gross Income, if filing a tax

return, and earnings from work as well as untaxed income and assets

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Special CircumstancesSpecial 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 assets

– Death or serious illness

– Natural disasters affecting parent income or assets such as the recent California 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, or

– Any other unusual circumstances that affect a family’s ability to contribute to higher education

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Application Filing TipsApplication Filing TipsFAFSA on The WebFAFSA on The Web

• Gather necessary documents ahead of time

• Complete a FAFSA on the Web Worksheet available at: www.fafsa.gov

• Allow ample time to complete the online FOTW application for submission by the deadline

• Check the FAFSA on the Web for accuracy prior to submission

• Save all work periodically

• Sign the application using student’s and one custodial parent’s PINs

• Print out a copy of the FAFSA before submitting data

• Keep a copy of the Submission Confirmation Page

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What Happens Next? What Happens Next?

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 mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms

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Student Aid Report (SAR)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 address

– A 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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Check Your Cal GrantCheck Your Cal Grant

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Open a WebGrants Account and you can:   - Check your Cal Grant award status 24/7

- Make changes to your Cal Grant school choices - View how much a Cal Grant is worth at different California colleges and

universities - See your Cal Grant payment history

Sign up at: webgrants4students.org

Summary of the Summary of the Financial Aid ProcessFinancial Aid Process

• 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!

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If You Need Help At Any TimeIf You Need Help At Any Time

• FAFSA on the Web – Live Help

• Phone 1-800-4-FED-AID (1-800-433-3243)

• E-mail the U.S. Department of Education at: [email protected]

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