Applying for
Financial Aid
2010-2011
1
Sponsors/Partners:
Presenter:
2
What Will You Learn Today?
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•
•
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)
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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 your parents’
employers
5
Louisiana State Aid
• Taylor Opportunity Program for Students (TOPS)
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•
•
•
•
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TOPS Tech
Early Start Program
TOPS Tech Early Start
Go Grant
Rockefeller State Wildlife Scholarship
START Saving Program
LOSFA administered Federal Programs: LEAP and
Louisiana Guaranteed Student Loans
www.osfa.la.gov
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TOPS: Application
• Two methods for applying for TOPS:
•
•
FAFSA (Free Application for Federal Student Aid) –
www.fafsa.ed.gov
• Preferred application
• Must be completed if the student is eligible for federal grant aid
(Pell Grant)
• Must be completed if the student is seeking any other form of
financial aid
• The only application needed for TOPS
TOPS Online Application – www.osfa.la.gov
• May only be completed by students who can certify that they do
not qualify for federal grant aid
• In the event of a budget shortfall, students completing the
TOPS Online Application will be the first to lose their TOPS
award
• Do not complete if you have completed the FAFSA
7
TOPS: Application Deadlines
2010 Graduates
Initial Application Received:
Receives TOPS funding for:
January 1. – July, 1, 2010
8 semesters (12 quarters)
Beginning 2010-2011
July 2, 2010 – July 1, 2011
8 semesters (12 quarters)
Beginning Fall 2011
July 2, 2011 - Aug. 30, 2011
7 semesters (10 quarters)
Beginning Fall 2011
Aug. 31, 2011 – Oct. 29, 2011
6 semesters (9 quarters)
Beginning Fall 2011
Initial Applications Received
After October 29, 2011
Ineligible for TOPS Award
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TOPS: Processing Cycle
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•
•
•
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LOSFA receives ACT or SAT scores electronically
based on inclusion of TOPS code on test registration
(ACT:1595, SAT: 9019
LOSFA receives transcript data from the Department
of Education after high school graduation
Once all required data is received, TOPS eligibility is
determined each Thursday night
TOPS eligibility letters are mailed each Friday.
Students can also check their award status on the
TOPS Portal located on www.osfa.la.gov
A Master Roster of TOPS eligible students is available
for colleges to download every Monday
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TOPS: Eligibility
•
•
•
•
For TOPS standard eligibility and renewal
requirements refer to table in TOPS brochure
www.osfa.la.gov
1-800-259-5626 x1012
custserv@osfa.la.gov
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LASFAA:
•
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Mildred D. Higgins HS Scholarship
The Louisiana Association of Student Financial Aid
Administrators (LASFAA) will award at least four
$500 scholarships to Louisiana Students planning to
attend member institutions. These are non-renewable
awards. Application Deadline: April 18, 2010.
High School seniors who will graduate in May 2010
can apply online at
http://www.lasfaa.org/docs/forms/ScholarshipApp.html
•
Contact: sguillory@mcneese.edu
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Types of Applications
•
•
•
FAFSA
(Insert required state
forms, if any)
Other applications or forms
as required by the college
such as:
•
CSS/Financial Aid PROFILE
•
Institutional scholarship
and/or financial aid applications
2009 federal tax returns (along
with schedules and W-2s) or other
income/asset documentation
•
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FAFSA Information & Tips
•
File as soon as possible
•
Use estimated 2009
income information if 2009
taxes are not complete at
time of FAFSA submission
•
The student and at least
one parent whose
information is required
must complete and sign
the FAFSA
13
FAFSA ON THE WEB
•
Internet application used by
students and parents to
complete electronic FAFSA at
www.fafsa.gov
•
Sophisticated on-line edits and
skip logic so that errors are
less likely to be made
•
On-line help is available for
each question
•
Student and at least one
custodial parent should get a
federal PIN at
www.pin.ed.gov
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Federal PIN
• PIN (Personal Identification
Number) serves as the electronic
signature on ED documents
• Both student and at least one
custodial parent need PIN 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 hours
Apply for student
and parent PINs at
www.pin.ed.gov
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Getting Ready
•
Before starting the FAFSA, gather:
• Student driver’s license
• Student Alien Registration Card
• Student and Parent
Social Security cards
2009 W-2 Forms and other records of money earned
2009 federal income tax form (even if not completed)
Records of untaxed income
Current bank statements
Business, farm, and other real estate records
Records of stocks, bonds, and other investments
Create a file for copies of all financial aid documents submitted
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FAFSA on the Web Worksheet
The 2010-2011 FAFSA
on the Web Worksheet
may be used for the
January 1, 2010
through June 30, 2011
federal aid application
cycle
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The FOTW Worksheet
A Four Section Form
Section 1 – is about the student
Section 2 – determines student
dependency status
Section 3 – collects parental
information for dependent
students
Section 4 – collects student finances
and information about the
independent student
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Section 1
(page 2)
STUDENT INFORMATION
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Section 1
Student Name
J O N E S
•
•
J A N E
The FOTW will ask for the student’s last
name, first name, and middle initial
Make sure to report the student’s name
exactly as it appears on the student’s
Social Security card
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Section 1
Student Social Security Number
1 2 3 - 4 5 - 6 7 8 9
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 national database match
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Section 1
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
• Eligible noncitizens with I-94
If neither a citizen or eligible noncitizen, the student is
ineligible for federal/state aid, but might still be eligible for
institutional funds
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Section 1
Alien Registration Number
9 8 7 6 54 3 2 1
If an eligible noncitizen, write in the student’s eightor nine-digit Alien Registration Number (ARN)
• Precede an eight-digit ARN with a zero
• Copy of Permanent Registration Card might be
requested by the Financial Aid Office
23
Section 1
Undocumented Students
NOTE: if the student is undocumented or
under-documented
• if the student is applying to any public college or
university, check to see if the student might be eligible
for in-state tuition costs
• check with colleges and universities to see if institutional
financial aid is available
• apply for all private scholarships for which the student
may be eligible
• watch for changes in federal and state laws regarding the
eligibility of undocumented or under-documented students
• 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.maldef.org/pdf/scholarships.pdf
www.latinocollegedollars.org
www.finaid.org/otheraid/undocumented.phtml
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Section 1
Student Marital Status
•
•
The student should check his or her marital
status as of the date the FAFSA on the Web
is completed
If the student is married or remarried, he or
she will be asked to provide information
about his or her spouse
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Section 1
Selective Service Registration
•
Male students who are between the ages of 18 and
26 years of age must be registered with Selective
Service to receive federal and state aid
•
Answer “Register me” only if the student is male,
aged 18-26, and has not yet registered.
•
The student may also register by going to:
www.sss.gov
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Section 1
Student Aid Eligibility Drug Convictions
•
•
•
If the student has never attended college since high
school, check “Never attended college”
If the student has attended college since high
school but never received federal student grants,
loans or work-study, check
“I have never received federal student aid”
If the student has received federal student aid and
has never had a drug conviction, check
“I have never had a drug conviction”
27
Section 1
Student Aid Eligibility Drug Convictions
•
•
If the student was convicted of the
possession or sale of illegal drugs while
receiving federal student aid, the
student will be asked to complete more
questions about the drug offense
Simply having a drug conviction does
not mean that the student will be
ineligible for federal student and/or state
student aid
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Section 1
Parents’ Educational Level
Indicate highest level of schooling
completed by the student's biological or
adoptive parents
Use birth parents or adoptive parents - not
stepparents or foster parents
• This definition of parents is unique to these
two questions
29
Section 1
Student State of Legal Residence
An important question NOT on the Worksheet:
Student State of Legal Residence
• Residency relates to the student’s permanent
home state
• if the student is dependent, the state of legal residence is
usually the state in which the custodial parent(s) live
• State of legal residence is also used
• to determine eligibility for state grants
• in the need calculation to determine the appropriate
allowance for state and other taxes paid
by that state’s residents
30
Section 1
High School Completion Status
An important question NOT on the Worksheet:
High School Completion Status
•When the student begins college in
the 2010-2011 school year, what will
be the student’s high school
completion status?
•High school diploma
•GED certificate
•Home schooled
•None of the above
31
Section 1
Grade Level in 2010-2011
An important question NOT on the Worksheet:
Grade Level in 2010-2011
When the student begins the 2010-2011
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
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Section 1
Degree or Certificate Objective
An important question NOT on the Worksheet:
Degree or Certificate
•In the 2010-2011 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
33
Section 1
Student Expected Enrollment Status at the
Start of the 2010-2011 Academic Year
An important question NOT on the Worksheet:
•
When the student begins the
2010-2011 school year, what does
he/she expect his/her enrollment
status to be?
- full-time
- ¾ time
- half-time
- less than half-time
- don’t know
•
Report the student's enrollment plans
for the college he/she is most likely to
attend
•
If unsure, report “full-time”
34
Section 1
Work-study, Loans, and TEACH Program
An important question NOT on the Worksheet:
If the student is interested in work-study
(student employment), student
loans, or the TEACH Program, check all
appropriate boxes
•
Indicating interest does not obligate the student
to either work or borrow, nor will it
cause the student to lose grants and
scholarships
•
Not checking work-study and/or loans may
restrict some options for limited work-study or
loan funds
35
Section 1
School Selection
An important question NOT on the Worksheet:
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 the schools
he/she is most likely to attend, and then
list others to which the student is
applying for admission
36
Section 1
School Selection
An important question NOT on the Worksheet:
• While in the School Selection Section,
the student will be asked to enter the
federal school code for each school to
which he/she wants information sent
• If the student does not know the
federal school code, enter the state in
which the college/university is located
and search for the federal school code
by the college/university name
37
Section 1
School Selection
An important question NOT on the Worksheet:
•
•
•
•
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 a housing option is not an application for On
Campus housing. Check with the colleges/universities for housing
information
38
Section 1
School Information
Strategies for Listing Colleges
•
•
•
For TOPS purposes you MUST
list a Louisiana school first
List schools with the earliest
financial aid deadlines
If the student is applying to more
than ten schools, wait for the
processed Student Aid Report
(SAR) and add additional
schools via the Web
or by phone using the student
PIN
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Section 2
(page 2)
STUDENT DEPENDENCY
STATUS
40
Section 2
Determination of Student Dependency Status
•
•
If the student checks none of the boxes about
Dependency Status, the student will be asked
to go to Section 3. For FAFSA filing purposes,
the student is considered a dependent student
and will be required to provide parental
information
If the student is able to check any one of the
questions in this section, he or she should skip
Section 3 and go to Section 4. The student is
considered an independent student for FAFSA
filing purposes and is NOT required to provide
parental information
41
Section 2
Determination of Student Dependency Status
42
Section 3
(page 3)
PARENT
INFORMATION
43
Section 3
Who is Considered a Parent
See Page 3 of FAFSA on the
Web Worksheet about who is
considered a parent
•
•
•
Biological or adoptive
parent(s)
Stepparent (regardless of
any prenuptial agreement)
In case of divorce or
separation, provide
information about the
parent and/or stepparent
the student lived with
more in the last 12 months
44
Section 3
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
• The student must attempt to get
biological parental information
• Colleges may use Professional Judgment
to allow the student to file as independent
45
Section 3
Parent Information
•
If the answer to any question is zero or
the question does not apply, enter 0: $
,
•
Report whole dollar figures:$
•
Recommendation: If the parents have not filed
their 2009 federal tax return, use 2009 W-2
forms and/or other 2009 employment records such as final pay check stubs - to estimate total
taxable income
•
Remember, rather than miss any filing
deadline, use estimated 2009 income
information
12 ,356
0
(no cents)
46
Section 3
Parent Information
• If the student is providing
father’s/stepfather’s and/or
mother’s/stepmother’s information, the
student will need those parents’:
• Social Security Numbers
• Names
• Dates of Birth
47
Section 3
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/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
48
Section 3
Parents’ Tax Return Filing Status
for 2009
• The student will be asked to provide information
about parent tax filing status for 2009:
• If his/her parents have completed their 2009 federal
income tax return, mark the first box
• If they have not as yet filed, but plan to file a 2009
federal income tax return, mark the second box
• If they have not, nor will not, file a 2009 federal
income tax return and are not required to do so,
mark the third box
49
Section 3
Parent 2009 Adjusted Gross Income
$$$$$$
•
•
If the student’s parents have not yet filed their
2009 federal tax return, use estimated
information for this question
If the student’s parents have completed their
2009 federal tax return, use actual 2009 tax
return information to complete this item.
Reminder: If the answer is zero or the question
does not apply, enter 0
50
Section 3
Money Earned from Work by
Parent(s) in 2009
$$$,$$$
$$$,$$$
Use W-2 forms and other records to list all income
earned from work in 2009 (including business
income earned from self-employment) for
father/stepfather and/or mother/stepmother
51
Section 3
Parents’ Household
2008 or 2009 Benefits Received
Indicate if the student, his/her parents, or anyone in the
parents’ household received benefits in 2008 or 2009
from any of the federal programs listed:
•Supplemental Security Income (SSI)
• Food Stamps
• Free or Reduced Price School Lunch
• TANF
• WIC
52
Section 3
2009 Additional Financial Information
The student will be asked to report if his or her parents received
or paid any of the following items in 2009 (check all that apply)
- Hope and Lifetime Learning tax credits
- Child support paid
- Taxable earnings from work-study, assistantships, or
fellowships
- Grants and scholarship aid reported to the IRS
- Combat or special combat pay
- Cooperative education program earnings
53
Section 3
2009 Parent Untaxed Income
The student will be asked to report if his or her parents had any
untaxed income in 2009. Check all that apply. Some examples of
the most common items are:
- Payments to tax-deferred pensions and savings plans such
as 401Ks, IRA deductions, and payments to self-employed
SEP and Keoghs
- Tax exempt interest income
- Child support received
- Housing, food and other living allowances paid to members of
the military and clergy
54
Section 3
Parent Assets
Parents may be asked to report
their assets. If so:
•
List the net value of parents’ assets
as of the day the FAFSA is
completed
•
If net worth is one million
$999,999
dollars or more, enter
•
If net worth is zero, enter 0
$
,
0
NOTE: Some financial aid offices may request
supporting documentation for the answers to these
questions
55
Section 3
Parent Assets
•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 they live in, the
value of life insurance and retirement plans, or the
value of a family-owned and controlled small business
56
Section 3
Parent E-Mail Address
An important question NOT on the Worksheet:
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 the parent know the
student’s FAFSA has been processed
57
Section 3
Parent Household Size
An important question NOT on the Worksheet:
Parent Number in Household
•
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 2, regardless of where they live
• other people, if they now live with the parents and will
continue to do so from 7/1/10 through 6/30/11, and if
the parents provide more than half their support now,
and will continue to provide support from 7/1/10
through 6/30/11
58
Section 3
College Students in the Parent Household
An important question NOT on the Worksheet:
College Students in the Parent Household
•
•
•
Always include the student even if he/she will attend
college less than half-time in 2010-2011
Include other household members only if they will
attend at least half-time in 2010-2011 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
59
Section 3
Parent 2009 U.S. Income Taxes
An important question NOT on the Worksheet:
•
What was the amount parents paid in U.S.
income tax for 2009?
– Use U.S. income tax paid (or to be paid)
• not the amount withheld from parents’
paychecks
60
Section 3
Parents’ 2009 Tax Exemptions
An important question NOT on the Worksheet:
• Enter the parents’ tax exemptions for 2009
Exemptions can be found on their IRS tax
return
• Be sure to include all persons being claimed
on the parents’ 2009 federal tax return,
regardless of whether they are included
in the parents’ household size question
61
Section 4
(page 4)
STUDENT INFORMATION
62
Section 4
Student Information
•
•
Questions in Section 4 are identical
to the parent financial questions we
covered in Section 3
•
If the student is single, ignore
references to “spouse”
•
If the student is married, report
spouse’s income and assets
The questions in Section 4 ask:
•
Which 2009 Federal income tax
return the student filed or will file?
•
The student’s 2009 Adjusted Gross
Income, if filing a tax return, and
earnings from work as well as
untaxed income and assets
63
Section 4
Student Dislocated Worker
A person may be considered a dislocated worker if he/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
64
Section 4
Student Information (Independent Students)
There are questions in
Section 4 that the student
will be asked only if he/she
checked at least one
response in Section 2 –
Student Dependency Status
65
Section 4
Student Benefits (Independent Students)
Indicate if the student, his/her spouse, or anyone
in the student’s household received benefits in
2008 or 2009 from any of the federal programs
listed:
• Supplemental Security Income (SSI)
• Food Stamps
• Free or Reduced Price School Lunch
• TANF
• WIC
66
Section 34
Student Household Size
An important question NOT on the Worksheet:
•
Include in the student’s household:
• the student and the student’s spouse (if married)
• the student’s dependent children, if
the student provides more than half their
support
• other people, if they now live with the student and will
continue to do so from 7/1/10 through 6/30/11, and if
the student provides more than half their support
now, and will continue to provide support from 7/1/10
through 6/30/11
67
Section 4
Student Number in College
(Independent Students)
An important question NOT on the Worksheet:
•
Count the student even if he/she will
attend college less that half-time in
2010-2011
•
Include others only if they will attend at
least half-time in 2010-2011 in a program
that leads to a college degree or
certificate
68
DO NOT MAIL THIS WORKSHEET
Go to www.fafsa.gov to complete and submit your application.
For more information on federal student aid,
visit www.FederalStudentAid.ed.gov.
You can also talk with your college’s financial aid office
about other types of student aid that may be available.
69
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
Unusual medical or dental expenses
not covered by insurance
Reduction in child support or other untaxed
benefits
Financial responsibility for elderly grandparents
Or any other unusual circumstances that
affect a family’s ability to contribute to
higher education
70
Application Filing Tips
FAFSA on The Web
•
•
Gather necessary documents ahead of time
•
Allow ample time to complete form for
submission by deadline
•
Check the FAFSA for accuracy prior to
submission
•
•
Save all work periodically
•
Print out a copy of the FAFSA before
submitting data
•
Keep a copy of the Submission Confirmation
Page
Complete a FAFSA on the Web Worksheet
available at www.fafsa.gov
Sign the application using student and at
least one custodial parent’s PIN
71
What Happens Next?
Students and the colleges the student listed receive
Student Aid Report (SAR) from federal processor

Students and families review SAR for important
information and accuracy of data

Colleges match admission records with financial aid
applications and determine aid eligibility

Colleges mail notices of financial aid eligibility to
admitted students who have completed all required
financial aid forms
72
Student Aid Report (SAR)
•
•
•
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 address
• A 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 1
Keep a copy of the SAR with other
financial aid documents
73
Summary of the
Financial Aid Process
•
•
•
•
•
•
•
Submit all required forms, including
the FAFSA, by each college’s
published deadlines
(insert any special state deadlines)
Keep a copy of all forms submitted
Review the electronic Student Aid
Report (SAR) Acknowledgement or
the paper SAR sent to the student
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!
74
Questions
and Answers
75