Financial Aid Night
2016-2017
Agenda
•
PURPOSE: To give a brief overview of the
financial aid process
•
Types and sources of financial aid
•
AB540 and the Dream Act
•
How to complete the Free Application for
Federal Student Aid (FAFSA)
•
Next Steps: What happens after you submit the
FAFSA
•
Resources and CASH for College
What is Financial Aid?

A way to pay for a college education

Government (federal & state) support for college
attendance

Institutional (college) support for college attendance

Private (business, community, etc.) support for college
attendance
Cost of Attendance – Expected Family Contribution = Financial Need
Cost of Attendance (COA)
Standard Costs
Optional Costs
Tuition and fees
Student loan fees
Room and board
Study-abroad
Books and Supplies
Disability-related services
Transportation
Employment expenses for co-op
study
Miscellaneous personal
expenses
Child or dependent care
Note: Costs vary from institution to institution
Expected Family Contribution (EFC)
•
Amount a family can reasonably be expected to
contribute
•
Stays the same regardless of college
•
Two components
– Parent contribution
– Student contribution
•
Calculated using data from a federal application
form and a federal formula
Types of financial aid
Grants - Money that does not have to be
paid back. Based on financial need.
Work-study or student employment
programs - federal and college.
Loans - Borrowed money that you must
pay back, usually with interest.
Scholarships - Free money, usually based
on a student’s area of study or merit.
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Cal Grants
Type
Where can you use
it?
Requirements
Cal
Grant
A
Cal
Grant
B
Cal
Grant
C
What does it pay for?
Tuition and Fees for:
4-year college
Certificate, 2-year or
4-year college
3.0 GPA, low to
middle income
2.0 GPA, low
income
Enroll in vocational of
study.
Associates and
No required GPA
Certificates programs
only
• CSU ($5,472)
• UC ($12,240)
• Private Colleges
($9,084)
• $1,656 for the 1st year
• Tuition/Fees plus
$1,656 in 2nd, 3rd, and
4th years
• Used for school
expenses including
tuition and fees
• $547 to $2,462
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Other Grants
 Federal Pell Grant
 Up to $5,730 per year
 Federal Supplemental Educational Opportunity
Grant
 Up to $4,000 a year
 Federal TEACH Grant
 Up to $4,000 a year
 CHAFEE Grant
 Provides up to $5,000 annually to current and
former foster youth
Loans and Work Study
Program
Award Amount
Notes
Work Study
Varies by school
On and off-campus employment
Perkins Loan
Up to $5500 (UG)/
$8000 (Grad)
5% fixed rate student loan
Subsidized
Direct Loan
Up to $3500
(undergrad level)
Temporary elimination of interest
subsidy during grace period
Unsubsidized
Direct Loan
Up to $2000
(undergrad level)
Interest begins accruing
immediately
Scholarships
•
University-based scholarships and grants
•
Private scholarship searches
– www.finaid.org
– www.collegeboard.org
•
Local Scholarships
– Outside Scholarship List (updated regularly)
– Local Scholarship Booklet – available 2/1
– www.rosevilletigers.org - Click “Academics” then
“Career Center”
It all starts with the…
Free Application for
Federal Student Aid
(FAFSA)
Dream Act
Application
www.fafsa.gov
dream.csac.ca.gov

Attended a California high school for 3 or
more full academic years

Will graduate from a California high school
(or attain a GED)
Do not have a Social Security Number or
does have a DACA Social Security
Number
Do not hold a valid non-immigrant visa


AB 540 Students – CA Dream Act
• Students may be eligible for in-state tuition/fee costs
• Check with colleges and universities about CA
Dream Act institutional financial aid and private
scholarships
• Apply for all other private scholarships for which the
student may be eligible
For more information and a list of scholarships, go to
www.latinocollegedollars.org
www.finaid.org/otheraid/undocumented.html
www.CalDreamAct.org
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
This is the student’s
application and
responsibility

Parent information is
usually required

Apply between January 1st
and March 2nd of the senior
year

Renew every year

The FAFSA and Dream Act
applications help determine
ability to pay for college
FAFSA Information & Tips
•
File early, but no later than
March 2, 2016
•
Use estimated 2015 income
information if taxes are not
complete at time of FAFSA
submission
•
Student and at least one
parent whose information
is reported must complete
and sign the FAFSA with a
FSA ID
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FSA ID
•
•
•
FSA ID (Federal Student Aid Identification)
Number serves as the electronic signature
on financial aid documents
Both student and one parent need FSA ID 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
FSA ID can be used immediately to submit
FAFSA
Apply for student
and parent FSA ID
at:
www.fsaid.ed.gov
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Getting Ready
•
•
Before starting the FAFSA, gather:
o Student driver’s license or Alien Registration Card
o Student and Parent
Social Security cards
2015 W-2 Forms and records of money earned and other
taxable benefits
2015 federal income tax form (even if not yet 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
(www.fafsa.gov)
Section 1 – Student Demographics
Section 2 – School Selection
Section 3 – Dependency Status
Section 4 – Parental Information
Section 5 – Student Income and Assets
Section 6 – Signatures and Certification
Section 7 – Confirmation
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Section 1
STUDENT DEMOGRAPHICS
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Section 1 - 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
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Section 2
SCHOOL SELECTION
Section 2 - 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 the California school he/she is
most likely to attend FIRST
• 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
FSA ID
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Section 2 - 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, or 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
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Section 3
STUDENT DEPENDENCY
STATUS
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Who Is Considered “Independent?”
•
•
•
•
Homeless, Unaccompanied Youth
Emancipated minors
Foster youth
Legal guardianship
If any of the above apply to you, please
work closely with your counselor
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Section 4
PARENTAL INFORMATION
FOR DEPENDENT STUDENTS
Whose info goes on a FAFSA/
CA Dream Act application?
THE FAFSA & CA DREAM ACT APPLICATIONS NOW USE RELATIONSHIP OF PARENT TO STUDENT,
VS. LEGAL RELATIONSHIP BETWEEN PARENTS FOR BASIS OF COLLECTING INFO
Relationship of Student to Parent
Includes both parents’ incomes Only includes one parent’s income on the
on the app?
app?
Parents married, living together
YES
NO
Parents not married, living together
YES
NO
Parent is widowed, not remarried
NO
YES
Parents are divorced or separated, not living together
NO
YES (include the parent the student lived with
most during the last 12 months. If equal
time, include the income from the parent
who provided most of the student’s financial
support during the last 12 months)
Parent and step-parent, living together
YES
NO
Legal guardians*
NO
NO
Foster Parents*
NO
NO
Grandparents, brothers, sisters, uncles, or aunts*
NO
NO
“Parent” means biological/adoptive parent – gender of biological or adoptive parents is not relevant.
*Students living with legal guardians, foster parents, or relatives are usually considered to be independent students.
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Section 5
STUDENT INCOME AND
ASSETS
* Consult a tax professional to determine if your student is required to file a tax return
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
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Application Filing Tips
•
Check the FAFSA for accuracy prior to
submission
•
•
Save all work periodically
•
•
Print a copy of the FAFSA before submitting it
•
Check each college’s financial aid website for
other required applications (e.g., CSS Profile)
Sign the application using student’s FSA ID and
one custodial parent’s FSA ID
Keep a copy of the Submission Confirmation
Page
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What Happens Next?
Students and the colleges the student listed will receive a
Student Aid Report (SAR) 3 to 5 days via email
Students who complete FAFSA and Cal Grant GPA Verification will
receive a California Aid Report (CAR)
Students and families should review SAR and CAR for important
information and accuracy of data – Update and correct
Track your Cal Grants at www.webgrants4students.org
Colleges send notices of financial aid eligibility to admitted
students who have completed all required financial aid forms
through web portals (check these OFTEN!!!)
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If You Need Help at Any Time
• FAFSA on the Web – Live Help
•
1-800-4-FED-AID or 1-800-433-3243
•
Website: www.fafsa.ed.gov
•
Email: FederalStudentAidCustomerService@ed.gov
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FREE CASH FOR COLLEGE
Cash for College Workshop
January 25 – Patti Baker Theater
6:00pm to 8:00pm
• Get help with the FAFSA, Dream Act, and Cal Grant
applications
Students who attend and submit their FAFSA may
be eligible for one of SIX $250 scholarships
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Questions and
Answers
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