Applying for Financial Aid 2013-2014. Sponsored by: Presented by:

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?

3

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

4

Sources of Financial Aid

Federal government

State government

Colleges and universities

Private agencies, companies, foundations, and parents’ employers

5

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

6

7

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

8

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

+

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

9

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

10

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

11

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

12

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

13

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

14

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

15

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.

16

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

17

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

18

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

19

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

20

21

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

22

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?

23

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

24

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)

25

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

26

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

27

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

28

FAFSA on the Web – Live HelpPhone 1-800-4-FED-AID

(1-800-433-3243)E-mail the U.S. Department of

Education at: [email protected]

If You Need Help at Any Time