Presented By: Melanie Epperson

Financial Aid Counselor

http://www.fafsa.ed.gov

Completing the Free Application for Federal Student Aid on the FAFSA website allows the student’s information to be processed for federal grant, work-study, and student loan eligibility

http://www.pin.ed.gov Students and parents may choose to

sign the FAFSA electronically with a pin number for faster processingBoth the student and the parent must

sign the FAFSA and submit it either by mail or electronically

Request a duplicate PIN if it is lost or forgotten

You do not have to pay any fees when completing your FAFSA application

It is called a “Free” Application for Federal Student Aid

Some websites charge a hefty fee for “helpful advice” on completing the FAFSA

http://www.fafsa.com charges $79.99

Collect your financial information first Federal tax returns for both the student (if

filed) and the parent W-2’s untaxed income statements

Use only legal names on the application, no nicknames

Make sure to enter the correct social security number and date of birth

The name on the application must match the name on the social security card

FAFSA on the Web question order is different from the paper FAFSA

The FAFSA on the Web worksheet presents the questions in the same order as they are presented on the web

To prepare for submitting FAFSA on the Web, complete the worksheet rather than the paper FAFSA

Worksheets A, B, and C are part of the FAFSA on the Web worksheet

Grandparents and legal guardians are not parents and their information should not be listed on FAFSA

If your parents are living and married to each other, answer the questions using them

If your parent is widowed or single, answer the questions using that parent

If your widowed parent is remarried as of the day you complete the FAFSA, answer the questions using your parent and stepparent

If your parents are divorced or separated, answer the questions using the parent you lived with more during the past 12 months

If you did not live with either parent, answer the questions using the parent who provided the most financial support

Roughly one-third of FAFSA applicants will be randomly selected for verification

This is a process through which we compare the information you entered on your FAFSA with your documented financial information

If you are selected for verification, you must supply a copy of the documents used to complete your FAFSA (federal tax returns,W-2’s, and untaxed income statements) as well as additional verification forms available in the financial aid office

Your Expected Family Contribution (EFC) number is an estimated measurement of your family’s ability to contribute to your educational expenses and is calculated from the information you report on the FAFSA

Financial aid for some federal programs is based upon demonstrated financial need Need based: Pell Grant, Supplemental

Educational Opportunity Grant, Academic Competitiveness Grant, SMART Grant, Work Study, Subsidized Stafford Loan

Non-need based: Parent loan, Unsubsidized Stafford Loan

Pell Grant Based on qualifying EFC Awarded to undergraduate students pursuing

their first bachelor’s degree Academic Competitiveness Grant

Free money based on qualifying EFC Awarded to first and second year

undergraduate students who have completed a rigorous secondary school program

Supplemental Educational Opportunity Grant Awarded to undergraduate students with

exceptional financial need

National Science and Mathematics Access to Retain Talent Grant (SMART Grant) Awarded to third or fourth year students pursuing a

major in the physical, life, or computer sciences; mathematics; technology; engineering; or foreign language

Work Study Qualifying students find and secure on-campus

employment and earn a bi-weekly pay check Perkins Loan

Based on qualifying EFC Does not accrue interest while in school Fixed interest rate of 5% upon repayment. This loan

can be forgiven (discharged) if going into the teaching or nursing program within the state of Arkansas

Subsidized Loan Does not accrue interest while in school at least

half time Current interest rate locked at 6.0% for loans

disbursed after July 1, 2008 Unsubsidized Loan

Does accrue interest while in school Current interest rate locked at 6.8% for loans

dispersed after July 1, 2008 Parent Plus Loan

Parent completes application and credit check Repayment begins 60 days after the final

disbursement (normally the spring term) Current interest rate locked at 8.5% for loans

dispersed after July 1, 2008

tuition for your last 8 required semester hours of advanced aerospace engineering: $5,500

supplies to create a scale mock-up of the NASA International Space Station complete with detachable Progress 29 unmanned cargo carrier: $273

coffee for the “all-nighter” finals mega-cram session: $25

PRICELESS

the feeling you get when you walk to the stage to receive your hard-earned degree:

No one can take your education away from you. You will ALWAYS have your degree

EVERYONE is eligible for some type of aid (at the very least a loan) to assist with the cost of higher education

Taking out loans to fund education, even as a last resort, should be considered an invest in your future

Contact information:UCA Financial Aid Office

001 McCastlain HallConway, AR 72032

501-450-3140