j.w. north high school financial aid night hosted by north counselors: rolando flores alison...
TRANSCRIPT
J.W. NORTH HIGH SCHOOL FINANCIAL AID NIGHT
HOSTED BY NORTH COUNSELORS:
Rolando FloresAlison LattimerErin MartinezKeri O’Neill
Community Assistant/translator: Gaby Cisneros
Agenda
Welcome and Introductions
Financial Aid Basics/FAFSA— Erin Martinez, North Counselor/FAFSA Coordinator
Scholarships—Mr. Flores, North Scholarship Coordinator
Q & A
© 2013 CASFAA
TOPICS
• What is financial aid?• Who can get it?• How much can I get?• How do I apply?• What happens next?• Where can I get more info?
What is financial aid?
• Money to pay for college or career school• Grants• Loans• Work-study• Scholarships
Who can get federal student aid?
• U.S. citizen or permanent resident• High school graduate/GED holder• Eligible degree/certificate program• Valid Social Security number• Males registered for Selective Service• Satisfactory academic progress in college/career
school
www.studentaid.gov/eligibility
Who can get other kinds of financial aid?
• California, colleges, and private scholarships have their own eligibility criteria.
• Be sure you know what you need to do to qualify.
--FAFSA, Dream Act App
--Myth vs. Fact
--AB 540
How much federal student aid can I get?
In general, depends on your financial need.•Financial need determined by Expected Family Contribution (EFC) and cost of attendance (COA)•EFC comes from what you report on FAFSA•COA is tuition, fees, room and board, transportation, etc.
COA – EFC = financial need
How much federal student aid can I get?Maximum amounts for the major programs for a dependent freshman in 2015-2016:•Federal Pell Grant: 2015-16 max award TBD [$5,730 in 2014-15]•Direct Subsidized and Unsubsidized Loans: $5,500 total•Federal Work-Study: depends on funds available at school•Direct PLUS Loan (for parents): COA minus other aid receivedHandout: Do You Need Money for College?
How much federal student aid can I get?
For early estimate, use FAFSA4caster:•Go to www.fafsa4caster.ed.gov •Enter some financial information•Get an estimate
How much state, school, and private scholarship money can I get?
Depends on the program; do your research!
•Cal Grants --up to $12,192 for UC, $5,472 CSU, $8,056 ICCwww.csac.ca.gov •UC Blue and Gold Opportunity Plan (if income less than $80K) www.universityofcalifornia.edu•Middle Class Scholarship—CSU/UC (Income Ceiling $150K)•Ask college financial aid offices for info about aid available at their schools (check online)•Free scholarship search at
www.studentaid.gov/scholarships
Mr. Flores…SCHOLARSHIPS
• GAP --Need not fully met with other forms of aid• SEARCHING --Caution: Handout: Don’t Get Scammed… --National vs. Local --North Scholarship Newsletter (www.jwnorth.org, under
‘Quick Links’)--Career Cruising
• APPLYING--Apply early--Follow directions--Be organized--Check your work--Keep copies
How do I apply for aid?
• FAFSA www.fafsa.gov
OR…• Dream Act Application www.csac.ca.gov
AND MAYBE…• CSS Profile (for some privates)https://student.collegeboard.org/css-financial-aid-profile
Note: Check with your school’s financial aid office
FAFSA OR DREAM ACT APPLICATION?FAFSA OR DREAM ACT APPLICATION?
Complete the FAFSA if…
Complete the Dream Act Application if…
You are a US citizen or eligible non-citizen. You must have a Social Security number or an Alien registration number.
You are not a US citizen and do not have a Social Security Number or an Alien Registration number. Or you have a social security card issued via DACA (it will say “for work only” across the top.)
Why use a PIN?•Sign FAFSA electronically•Access your FSA records online•Make corrections
Who can apply?•Students•Parents with SSN
You need a PIN! Personal Identification
Number (PIN)
…and at least one parent does too.
Access the PIN Website www.pin.ed.gov
Remember…KEEP YOUR PIN PRIVATE!!
DREAMERS—no PIN for student, PIN for parent.
Completing the FAFSA
www.fafsa.ed.govBe careful of copycat
websites! Remember…it’s .gov. And it’s always FREE!
See the ‘Cheat Sheet’ FAQs, and common errors to avoid.
Complete your FAFSA or Dream Act Application at a Cash for College Workshop! See flyer for a workshop near you!
FAFSA on the Web (FOTW)
Using FOTW•Ask Questions•Browse Help •Deadlines•Announcements…
…and more
www.fafsa.ed.gov
© 2013 CASFAA
FAFSA on the Web (FOTW)
Start Here:
•Start New FAFSA•Corrections•Signatures•Continuing a saved FAFSA•Renewal FAFSA
© 2013 CASFAA
FAFSA Overview: 7-Step Process• Step 1: About the Student• Step 2: School Selection• Step 3: Determines Dependency Status• Step 4: Parent Financial Information• Step 5: Student Financial Information• Step 6: Signatures (PIN, or sig. page)• Step 7: Confirmation
STEP 1: Student DemographicsCheck for:
•Name matches student social security card•Transposed numbers•Incorrect data in numeric fields
Tip: Use the Help and Hints section on each page.
Simple mistakes can delay determining eligibility for aid!
Student Eligibility
Students with a high school diploma must:
•Identify their high school
•Select Confirm to find a match
•Select the school from the list or select Next to continue
© 2013 CASFAA
Step 2: School Selections
Add a College•Federal School Code•Search by:
o State o Cityo Name
Housing Plans•On campus•With parent•Off campus
© 2013 CASFAA
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%...meaning if the student has a child
© 2013 CASFAA
Divorced or Separated Parents
• Provide 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
© 2013 CASFAA
Remarried Parent
Provide information about the parent and stepparent regardless of:
•Agreement of “nonsupport”•Prenuptial agreement•Divorce decree designating tax filing exemptions
Note: A parent claiming the student on their tax return need not be the parent required to provide data on the FAFSA
© 2013 CASFAA
Step 4: Parent Information
• Demographics• Marital status
will determinewhat questionsare asked ofthe parent(s)
© 2013 CASFAA
NO Parental 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• Exception: Adoptive parents
© 2013 CASFAA
Parent Income Information
IRS Data Retrieval Tool (DRT)
•Transfers information directly from the IRS
• Requires PIN
• Available February 2nd
• After filing tax return
© 2013 CASFAA
Parent Income & Asset Information
• Same questions asked of students
• Selecting a box displays additional fields to complete
Note: Asset filtering question
© 2013 CASFAA
Income Reporting and VerificationSelected students and parents must submit income and asset documentation
•Using the IRS Data Retrieval Tool (unchanged) meets verification requirements for some income information
•Otherwise, only an IRS Tax Return Transcript will meet verification requirements
© 2013 CASFAA
Step 5: Student Income and Assets
• Same questions asked of parents
• If student will not file a tax return, they may only be asked:• Amount earned from work
• Asset information
© 2013 CASFAA
Step 6: Student Sign and SubmitSelect signature method•PIN or printed signature page
Terms of Agreement•$$$ for education expenses only•Not in default on a federal student loan •Not owe a federal Title IV grant•Receive one Pell Grant from one college at a time
© 2013 CASFAA
Parent Sign and SubmitSelect signature method•PIN or printed signature page
Terms of Agreement•Provide documents to verify accuracy of information•IRS verification
© 2013 CASFAA
Parents without SSN must submit signature page—cannot apply for PIN.
Step 7: Confirmation Page• Confirmation #
• DRN
• Optional feature: transfer FAFSA data
• Eligibility information
• College information
2014-2015
© 2013 CASFAA
Student Aid Report (SAR)
• Sent electronically or by mail
• Summarizes FAFSA information
• Displays EFC and DRN (upper right-hand area 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
© 2013 CASFAA
What happens next?
• Each school will tell you how much aid you can get at that school.
• Once you decide which school to attend, keep in touch with the financial aid office to find out when and how you will get your aid.
Where can I get more info?
• StudentAid.gov• Info about aid programs• Links to free scholarship and college searches
• 1-800-4-FED-AID• Info about aid programs• Help with FAFSA
Compare Your Financial Aid Awards• Wait until you hall all award offers before deciding.
• Ask questions! Your counselor can help—it can be confusing.
• Compare apples to apples…
--What’s the bottom line net- cost to you? --Grants/Scholarships?
--Loans (they’re optional!): subsidized vs. unsubsidized?federal vs. private?
Online comparison tool @ www.collegeboard.org
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