Applying
for
Financial Aid
2013-2014
What Will You Learn Today?
•
•
•
Types and sources of financial aid
•
Answers to your
individual questions
Required financial aid application forms
How to complete the Free Application for
Federal Student Aid (FAFSA) and the
Cal Grant GPA Verification Form
2
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
3
Sources of Financial Aid
•
Federal government
•
State government
•
•
Colleges and universities
Private agencies,
companies, foundations,
and parents’ employers
4
Scholarship Resources
Naviance
Various
Fastweb Under the Search
“College” Engines
tab
Thursday
siprep.org/ Scholarship
Lunch
counseling
Workshops
Cal Grants
•
Cal Grant A Entitlement Awards – for high school
•
Cal Grant B Entitlement Awards – for high school
•
Cal Grant C Awards - for students from low income
•
CHAFEE GRANT
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
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
families pursuing vocational programs of study
6
2013-2014 Cal Grant
Application Requirements
Free
Application
for Federal
Student Aid
(FAFSA)
Cal Grant
GPA
Verification
Form
Check with your high school or college counselor for
more details on how to file the
Cal Grant GPA Verification Form
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Possible Cal Grant and Federal
Pell Maximum Awards
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 Application
2 Your GPA
3 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
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LOANS
Direct Subsidized Loan
• 3.4% fixed interest rate
• 1st Year Max- $3,500
Perkins Loan
• 5.5% fixed interest rate
• 1st Year Max - $5,500
• Students with exceptional financial need
Direct Unsubsidized Loan
• 6.8% fixed interest rate
PLUS loan
• Loan for parents for undergraduates and graduate students
• No adverse credit history
• 7.9% fixed interest rate
• Total Max: Cost of Attendance
Forgiveness
• Teacher
• Public Service Jobs over 120
www.studentloans.gov
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Loan Limits
Direct Stafford Loan Limits (Subsidized and Unsubsidized)
Undergraduate students
Dependent1
Independ
ent2
1st-year
$5,500
($3,500)3
$9,500
($3,500)
2nd-year
$6,500
($4,500)
$10,500
($4,500)
3rd- and 4thyear
$7,500
($5,500)
$12,500
($5,500)
Aggregate
$31,000
($23,000)
$57,500
($23,000)
Graduate
students
$20,500 for
each year
$138,5005
($65,500)
1Except
those whose parents are unable to borrow a PLUS loan.
limits also apply to dependent students whose parents are
unable to borrow a PLUS loan.
3The numbers in parentheses represent the maximum amount that
may be subsidized.
2These
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Types of Applications
•
•
•
FAFSA
Cal Grant GPA Verification Form
Other applications or forms as
required by the college such as:
•
•
•
CSS/Financial Aid PROFILE
Institutional Scholarship and/or
Financial Aid Application
2012* federal tax returns (along
with all schedules and W-2s) or
other income documentation
*Ok to use 2011 tax returns to estimate
11
CSS PROFILE
is an online application REQUIRED by almost 400 colleges and scholarship
programs to award financial aid from sources outside of the federal government
(campus specific aid).
Who Must File
Not all colleges and scholarship programs require the PROFILE. Check with
the ones you’re interested in at www.profile.collegeboard.corg
NOTE
*All parental units are required to fill out the CSS Profile
*It is a lengthy application with various deadline for submission
*It is NOT FREE -- $25 for the application and $16 for each additional school report.
*Fee Waivers are available through the CSS Profile – but only covers…the application fee and 6
school reports
*Further documents may be requested by individual colleges.
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SCAM ALERT….
Did I go on
the wrong
website?!
13
Scholarship Scams
Fees
No Work Involved
Credit Card Info
“Exclusive” Scholarships
Pressure Tactics
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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
15
Parent E-mail Address
• Provide a parent e-mail address that will be
valid at least until the student starts college
• If a parent provides an e-mail address, the
FAFSA processor will let them know the
student’s FAFSA has been processed
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Student Name
•
•
The FOTW will ask for the student’s first and last names
Make sure to report the student’s name exactly as it
appears on the student’s Social Security card
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Student Social Security Number
•
•
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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Student Citizenship 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
•
The holder of an Arrival-Departure Record (I-94) from the Department of Homeland Security
showing any of the following designations: “Refugee,” “Asylum Granted,” “Parolee” (I-94
confirms paroled for a minimum of one year and status has not expired), T-Visa holder (T-1,
T-2, T-3, etc.) or “Cuban-Haitian Entrant;” or
The holder of a valid certification or eligibility letter from the Department of Health and
Human Services showing a designation of “Victim of human trafficking.”
A resident of the Republic of Palau (PW), the Republic of the Marshall Islands (MH), or the
Federated States of Micronesia (FM)
•
•
•
Canadian-born Native American under terms of the Jay Treaty
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Eligible Noncitizen
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
If neither a citizen or eligible noncitizen, the student is ineligible for
federal/state aid, but might still be eligible for institutional funds
20
Undocumented Students
If the student is undocumented
• and is applying to any California public college or university,
check to see if he/she might be eligible for in-state tuition/fee
costs
• visit www.CalDreamAct.org to learn more about the new
California Dream Act signed into law in 2011
• check with colleges and universities about CA Dream Act
institutional financial aid and private scholarships and the
timelines for applying
• apply for all other private scholarships for which the student
may be eligible
• 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 to
www.latinocollegedollars.org
http://www.maldef.org/assets/pdf/Scholarship_List_2010_2011.pdf
www.finaid.org/otheraid/undocumented.phtml
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Student Marital Status
•
The student should check his or her marital status as
of the date the FAFSA on the Web is submitted
•
If the student is married or remarried, he or she will
be asked to provide information about his or her
spouse
22
Selective 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
23
Student Aid Eligibility Drug Convictions
•
Students who have never attended college since high school will not be asked any of
the Drug Conviction questions
•
Students who indicate that they have attended college before will be asked if they have
ever received federal student aid
•
If the answer is “yes,” students will be asked if they were convicted for the possession
or sale of illegal drugs. Most students will answer ‘No” to this question and will not be
asked any additional questions.
•
Even students who have been convicted of a drug offense while in college and
receiving federal financial aid may still be eligible to receive federal financial aid.
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Parents’ Educational Level
Indicate highest level of
schooling completed by the
student’s biological or
adoptive parents (for state
award purposes only)
• Use birth parents or
adoptive parents - not
stepparents or foster
parents
• This definition of parent
is unique to these two
questions
25
Grade Level in 2013-14
When the student begins the 2013-2014 school year, what will be his/her
grade level?
• Never attended college/1st year
• Attended college before/1st year
• 2nd year/sophomore
• 3rd year/junior
• 4th year/senior
• 5th year/other undergraduate
• 1st year graduate/professional
• Continuing graduate/professional or beyond
26
Degree or Certificate Objective
In the 2013-2014 school year, what degree or certificate will you, the
student, be working on?
• Some options are:
- 1st bachelor’s degree
- Associate degree (occupational or technical program)
- Associate degree (general education or transfer program)
- Graduate or professional degree
27
Determination of Student Dependency Status
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Parent Demographics
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)
29
Who 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
• If this is not the 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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Parents’ Marital Status
• Report your parents’ marital status as of today
–
–
–
–
Married or remarried
Single
Divorced or separated
Widowed
• Depending on your parents’ answer to this question, they
might be asked about the date of their marital status
31
Parent Household Size
•
Include in the parents’ household:
•
•
•
•
the student
parent(s)
parents’ other dependent children, if
the parents provide more than half their
support or the children could answer “no” to every question in Section 3,
regardless of where they live
other people, if they now live with the parents and will continue to do so
from 7/1/12 through 6/30/13, and if the parents provide more than half
their support now, and will continue to provide support from 7/1/12
through 6/30/13
32
College Students in the Parent Household
•
•
•
Always include the student even if he/she will attend
college less than half-time in 2013-2014
Include other household members only if they will attend at
least half-time in 2013-2014 in a program that leads to a
college degree or certificate
Never include the parents
NOTE: Some financial aid offices will require proof that
other family members are attending college
33
Parents’ 2011 Tax Return Filing Status
• The parents will be asked to provide information about their
tax filing status for 2012:
• If parents have completed a 2012 federal income tax return,
select “Already completed”
• If they have not as yet filed, but plan to file a 2012 federal
income tax return, select “Will file”
• If they have not, nor will not, file a 2012 federal income tax
return and are not required to do so, select “Not going to file”
34
IRS Data Retrieval
• This question asks if parents have
completed their 2012 IRS income tax
return
• If parent(s) answer “Already
completed,” they will be given the
option to transfer their 2012 income
tax information directly from IRS
records to the FOTW
• If parents indicate that they have
recently filed their 2012 taxes, they
may not be able to access their IRS
data if they have filed taxes
electronically within the last two weeks
or by mail within the last eight weeks
• Instead, they should use their actual
2012 IRS tax return to complete the
FOTW so the student does not miss
any important financial aid deadlines
35
Parent 2012 Adjusted Gross Income
•
•
•
If the student’s parents have not yet filed their 2012
federal tax return, use estimated 2011 information
for this question
The “Income Estimator” on the FOTW may help
you calculate this amount
If the student’s parents have completed their 2012
federal tax return, use actual 2012 tax return
information to complete this item if they are not
eligible to use the IRS Data Retrieval process
36
AGI on the 1040 form
37
Money Earned from Work by Parent(s) in 2012
Use W-2 forms and other records to determine all
income in 2012 earned from work (including
business income earned from self-employment) for
father/stepfather and/or mother/stepmother
38
Parent 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
39
Parents’ Household 2011 or 2012 Benefits Received
Indicate if the student, his/her parents, or anyone in the parents’ household
received benefits in 2011 or 2012 from any of the federal programs listed
•Supplemental
Security Income (SSI)
•Food Stamps or SNAP
•Free or Reduced Price School Lunch
•Temporary Assistance for Needy Families (TANF)
•Special Supplemental Nutrition Program for Women, Infants and Children (WIC)
•None of the above
40
Parents’ 2012 U.S. Income Taxes
•
Enter the amount of parents’ income tax for
2012?
– Use U.S. income tax paid (or to be paid), not the
amount withheld from parents’ paychecks
41
Income Tax info on 1040
42
2012 Additional Financial Information
The student will be asked to report if his or her parents received or paid any
of the following items in 2012 (check all that apply)
•
•
•
•
•
•
American 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
43
2012 Parent Untaxed Income
• The student will be asked to
report if his or her parents
had any untaxed income in
2012. Check all that apply.
Some examples of the most
common items are:
• Payments to tax-deferred
pension and savings
plans such as 401K, IRA
deductions, and
payments to selfemployed SEP and
Keogh
• Child support received
• Tax exempt interest
income
• Housing, food and other
living allowances paid to
members of the military
and clergy
44
Parent Asset Information
Parents may be asked to report their
assets. If so:
• List the net value of your parents’ assets as of
the day you complete the FAFSA
• If net worth is one million
dollars or more, enter
• If net worth is zero, enter 0
999,999
0
NOTE: Some financial aid offices may request supporting
documentation for the answers to these questions
45
Parent Assets
•
•
•
•
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
46
Student Information
Wages
Assets
Untaxed Income
47
School 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
48
School Selection
• FAFSA on the Web allows the student to list up
to 10 colleges/universities that will receive
his/her student and parent information
• The student should list first the California school
he/she is most likely to attend
• The student may re-order his/her school choices
• Then list other schools to which the student is
applying for admission
• NOTE: Each UC and CSU campus must be listed
separately
49
Special 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 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, or
– Any other unusual circumstances that affect a
family’s ability to contribute to higher education
50
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
51
Check Your Cal Grant
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
52
Budgeting and Comparing
Net Price
Calculator
Studentaid.gov
Budget
Calculator
53
If 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:
FederalStudentAidCustomerService@ed.gov
•
California State Aid Commission
54
Scholarships
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Broadly
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Attendance
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FREQUENTLY ASKED
QUESTIONS & WARNINGS
Do I have to file FAFSA, CSS Profile and Cal
Grant every year?
Do I have to maintain a certain GPA to keep my
financial aid?
What if my parent(s) do not have a social
security number?
If I have questions later who do I go to?
When can I stop using my parent(s) financial
information?
Frequent Mistakes ???
Income Tax Paid is different than Taxable
Income
56
Application Filing Tips - FAFSA on the Web
•
Complete a FAFSA on the Web available at:
•
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
•
•
Print out a copy of the FAFSA before submitting data
www.fafsa.ed.gov
Save all work periodically
Sign the application using student’s and one custodial parent’s
PINs
Keep a copy of the Submission Confirmation Page
57
Questions and
Answers
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