Financial Aid Types Grants are money you dont have to repay, typically based on financial need. Scholarships are free money, usually based on your area.

FAFSA NIGHT FOR THE SENIOR CLASS OF 2014

Financial Aid Types

■ Grants are money you don’t have to repay, typically based on financial need.

■ Scholarships are free money, usually based on your area of study or merit.

■ Work-study or student employment programs—federal and college.

■ Loans are borrowed money that you must pay back, usually with interest.

Basic Steps to Financial Aid

a) Prepare for college

b) Apply for financial aid

c) Pay for college

d) Manage your money

GRANTS

■ Cal Grants♦ Cal Grant A: up to $12,192♦ Cal Grant B: up to $1,551 first year, up to $13,743 thereafter♦ Cal Grant C: up to $3,168♦ Middle Class Grant

■ Federal Pell Grant ♦ Up to $5,550 a year

■ Federal Supplemental Educational Opportunity Grant ♦ Up to $4,000 a year

■ Federal TEACH Grant♦ Up to $4,000 a year

Special Programs

■ Fee waivers and other college-based programs♦ See your college financial aid office

■ Work-study♦ Federal work-study♦ College work-study

• Student employment programs

FAFSA STEPS

• Get a Personal Identification Number (PIN) for both the student and at least one parent

• Sign up for your PIN anytime at www.pin.ed.gov

• FAFSA application for the 2014-15 college year opens January 1st, 2013

• Complete the FAFSA by March 2nd, 2013

Make sure the site you input data to ends in .gov

Get your PIN

Why use a PIN?• Sign FAFSA

electronically• Access your FSA

records online• Make corrections

Who can apply?• Students• Parents

WWW.PIN.ED.GOV

Using the PIN Website WWW.PIN.ED.GOVREQUIREMENTS:

• Social Security number• Name• Date of birth• Address• Email address (encouraged)• Challenge question response

A PIN will be issued upon submitting the request.

Note: A PIN will be rejected if there is no Social Security Administration match.

ALLOWS THE FOLLOWING:

Apply for a PINCheck PIN statusRequest a duplicate PINAccess/Update email address and personal informationChange PINDisable, reestablish, activate PIN

Note: Never ask for or give your PIN to anyone.

FAFSA on the Web (FOTW)

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

…and more

WWW.FAFSA.GOV

FAFSA on the Web (FOTW)

Contact Us• Live “chat”

• (800) 433-3243

• [email protected]

WWW.FAFSA.GOV

FAFSA on the Web (FOTW)

www.fafsa.gov

Start Here:

Initial FAFSACorrectionsSignaturesContinuing a Saved FAFSARenewal FAFSA

www.fafsa.govwww.fafsa.gov

Make sure the site you input data to ends in .gov

FAFSA 7 Steps

1. The Student2. School Selection3. Student’s Dependency Status4. Parent Information for Dependent Students5. Student Income / Assets6. Signatures and Certification7. Confirmation

Step 1: Student Demographics

Check for:

• Name matches student social security card

• Transposed numbers

• Incorrect data on numeric fields

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

Simple mistakes can delay determining eligibility for aid

Step 1: Student Demographics

Students with a high school diploma and who have never attended college must:

• Identify their high school

• Select Confirm to find a match.

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

Step 2: School Selection

Add a School• Federal School Code• Search by:

State City Name

Housing Planso On campuso With parento Off campus

NET PRICE CALCULATOR

■ Congress passed a law requiring all colleges to offer a “net price calculator” on their websites♦ Allows prospective students to figure out how

much it will cost them to go to college♦ Compare net price of one school to another

school

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%

Foster Care

Select Yes if at any time since the student turned age 13, he/she was in foster care even if no longer in foster care today due to:

– Adoption– Reunification– Reached the age of majority (18 yrs.)

Note: documentation may be required.

Emancipated Minors

Select Yes if the student:

– as of today, is an emancipated minor or

– was an emancipated minor immediately before turning 18 years old.

Note: Documentation issued from a court in the student’s state of legal residence may be required.

Legal Guardianship

Homeless, Unaccompanied Youth

Select Yes if any time after July 1, 2013, the student meets all three criteria:

“Homeless” or “at risk of being homeless”– Lacking fixed, regular and adequate housing. Includes living

in shelters, motels, cars, or temporarily living with other people because you had nowhere else to go.

“Unaccompanied”– Not living in the physical custody of a parent or guardian

“Youth”– 21 years or younger– Still enrolled in high school at the time the FAFSA is

completed

Homeless, Unaccompanied Youth

• A student is eligible for homeless youth status if he/she meets the homeless definition and was determined to be homeless by his/her high school or school district homeless liaison, the director of a runaway or homeless youth center, or HUD

• Students who meet this criteria are independent• A student is also eligible for homeless youth status if

he/she meets the homeless definition, but was determined to be homeless by the financial aid office;

• Students who meet this criteria can use FAFSA on the Web to self-identify.

Step 4: Parent Information

Parents must answer both demographic and financial information to determine

• Custodial parent(s)

• Ability to contribute to student’s education expenses

Divorced or Separated

• Provide parent’s 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

Remarried Parent

Provide information about the parent and stepparent regardless of:

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

exemptions

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

Parent 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

Parent Information

For Upcoming Year

Household Size: Parent provides more than 50% financial support

Number in College: Student enrolled at least half-time

Parent Information

Definition of a Dislocated Worker

– Lost job

– Laid off

– Self-employed/ unemployed or underemployed

– Displaced homemaker

Parent Income and Asset Information

Same questions asked of students

Selecting a box displays additional fields to complete

Parent Income and Asset Information

• Question displays if the student:–Is not eligible for an automatic zero

EFC or simplified needs calculation, and

–Reports a state of legal residence that allows students to skip income and asset questions

Step 5: Student 2013 Income and Assets

IRS Data Transfer

Transfer information directly from the IRS

• Requires PIN

• Available January 31st

• After filing tax return

Income Reporting and Verification

Selected students and parents must submit income and asset documentation

• Using IRS Data Transfer (unchanged) meets verification requirements for some income information

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

• ID Theft updates

Student Income and Assets• Adjusted Gross

Income (AGI)

• Amount earned from work

• Taxes paid

• Exemptions

• Cash/Investments

• Asset Threshold

Step 5: Student Financial Information

Students are asked

the same questions

as parents.

Step 6a: Student Sign and Submit

Select Signature Method• PIN or printed signature

page

Terms of Agreement• $$$ for education

expenses only

• Not in default on a federal student loan

• Not owe money

• Receive one Pell Grant from one college at a time

Step 6b: Parent Sign and Submit

Select Signature Method• PIN or printed

signature page

Terms of Agreement• Provide documents

to verify accuracy of information

• IRS verification

Step 7 : Confirmation

Confirmation Page• Confirmation #

• DRN

• Optional feature: transfer FAFSA data

• Eligibility information

• College information

• Next steps

2012-2013

Student Aid Report (SAR)• Received electronically or by mail,

• Summarizes FAFSA information

• Displays the EFC and DRN (upper right-hand portion 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

Cal Grants Overview

Find out if the school you want to attend qualifies for Cal Grants

www.csac.ca.gov

Basic Cal Grant Eligibility

WWW.CSAC.CA.GOV43

Cal Grant A

Low to middle income students who:• Meet the income and asset ceilings• Have financial need

3.00 High School GPA minimum

AA and BA programs only

Maximum annual award amounts• Used for tuition and/or fees only• Held in reserve while attending community college

CSU UC Independent

For Profit

$ 5,970/yr

$ 12192/yr

$ 9,084/yr $4,000/yr

Cal Grant BVery low income students who:• Meet the income and asset ceilings

2.00 GPA minimum

AA, BA/BS and Certificate programs

Annual Awards• $1473 stipend first year• Fees/Tuition plus $1473 in 2nd, 3rd, 4th yr• Available as Entitlement & Competitive Awards

Cal Grant C

Low and Middle income

students who:

• Enroll in vocational courses of study

• AA and Certificate programs only• Can be used for any school

expenses including tuition and fees

• Eligibility determined only after full Cal Grant A and B consideration

Cal Grant C• Priority now given based on Occupational Goal• Meeting 2 of the 3: High employment need, High

employment growth, and High wage

Cal Grant Renewal Eligibility

• Renewal participants must meet income and asset ceilings.

• Students must meet satisfactory academic progress standard of school

Cal Grant Income & Asset Ceilings

Cal Grant High School Entitlement

• Make sure to include the high school name on the FAFSA• CSAC can then match between GPA and FAFSA

information• High School Graduation Confirmation *Required*• Students can confirm on-line using WebGrants for

Students • Schools & school districts can assist to provide post-

graduation confirmation of HS graduation• Students needing to mail use the High School

Graduation Confirmation form, HS transcripts or other authoritative documents

Student Notifications

• Recipients that submit a FAFSA & GPA will receive a California Aid Report (CAR) via email

• E-CAR indicates Cal Grant eligibility– Sent as early as January– Letter notification will be sent if no e-mail

address

• Mark these addresses as not junk:– [email protected]– [email protected]

California Aid Programs

■ UC Student Aid♦ Average grant $14,000

■ State University Grant♦ Full systemwide fees

■ California Chafee Grant♦ Up to $5,000 a year

■ Child Development Grant♦ Up to $2,000 a year

■ California National Guard Education Assistance Award♦ $1,551 - $12,192

■ Law Enforcement Personnel Dependents Grant♦ Up to $13,743 a year

Applicants should access WebGrants for Students (WGS)

Use WGS to track awards, GPA and FAFSA Submission

Student Notifications

www.webgrants4students.org

Notification

WebGrants for Students (WGS)

• WGS is a CSAC web-based application for students that provides:– Secure, 24/7, student-friendly access to manage their

Cal Grant and Chafee Grant award– Links to other related financial aid sites

• empowers students with critical financial aid information to ensure successful processing of grant application & maintenance of their award status

• The WGS URL is www.webgrants4students.org

Cash For College Workshop

RVHS has applied to host a Cash For College Workshop for January or February 2014

The date will be announced if we are selected.If not selected we will hold a “hands on” FAFSA

workshop in the RVHS computer lab so that parents and students have personal assistance

submitting their FAFSA application online.

Thank you for attending

Loretta Abbott, MSW, PPSC

707-374-6336 x1232

[email protected]