Financial Aid
Workshop
Financial Aid Night
The Theatre Arts Production
Company School
Presenter: James Giordano
Workshop Highlights

Types of Federal Aid

Packaging of Aid

Application Process

CSS Profile

Scams
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TAP

Estimators
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Step by step FAFSA
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After the FAFSA
2
What is Financial
Aid?

Gift Aid

Grants and Scholarships (free money)

Self-Help Aid

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Work-Study (job opportunity to earn
money and relevant experience)
Loans (money borrowed that must be
repaid)
3
Sources of Financial
Aid

Federal and State Grants.

TAP

Federal Work-Study

Federal Loans
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Institutional Aid

Private / Other Government Aid
4
Federal Grants
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Pell Grant: Does not have to be repaid. Available almost
exclusively to undergraduates; all eligible students will receive the
Federal Pell Grant amounts they qualify for ranging from $400 $5,500 Max.
Federal Supplemental Educational Opportunity
Grant (FSEOG): Does not have to be repaid. For
undergraduates with exceptional financial need; priority is given
to Federal Pell Grant recipients; funds depend on availability at
school $4,000 Max
Federal Work-Study: Money is earned while attending school;
does not have to be repaid. For undergraduate and graduate
students; jobs can be on campus or off campus; students are
paid at least minimum wage. No annual maximum
5
Academic Competitiveness
Grant (not funded yet)

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An Academic Competitiveness Grant will provide up to
$750 for the first year of undergraduate study and up
to $1,300 for the second year of undergraduate study
to full-time students who are eligible for a Federal Pell
Grant and who had successfully completed a rigorous
high school program, as determined by the state or
local education agency and recognized by the
Secretary of Education. Second year students must
maintain a cumulative grade point average (GPA) of at
least 3.0.
Must have received a regents diploma with ADVANCED
designation.
Must be eligible for Pell Grant
6
TEACH Grant



Teacher Education Assistance for College and Higher
Education (TEACH) Grant Program provides grants of up to
$4,000 per year to students who intend to teach in a public or
private elementary or secondary school that serves students
from low-income families.
In exchange for receiving a TEACH Grant, you must agree to
serve as a full-time teacher in a high-need field in a public or
private elementary or secondary school that serves lowincome students. Visit https://teachats.ed.gov/ats/index.action.
If you fail to complete this service obligation, all
amounts of TEACH Grants that you received will be
converted to a Federal Direct Unsubsidized Stafford
Loan. You must then repay this loan to the U.S.
Department of Education. You will be charged
interest from the date the grant(s) was disbursed.
7
High Need Fields
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High-Need Field
High-need fields are the specific areas identified below:
Bilingual Education and English Language Acquisition.
Foreign Language.
Mathematics.
Reading Specialist.
Science.
Special Education.
Other identified teacher shortage areas as of the time you
begin teaching in that field. These are teacher subject
shortage areas (not geographic areas) that are listed in the
Department of Educations Annual Teacher Shortage Area
Nationwide Listing. To access the listing, please go to
http://www.ed.gov/about/offices/list/ope/pol/tsa.doc.
8
The National Science & Mathematics
Access to Retain Talent Grant (National
SMART Grant)
(Not Funded Yet)


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The National Science and Mathematics Access to Retain
Talent Grant, also known as the National Smart Grant is
available during the third and fourth years of
undergraduate study (or fifth year of a five-year
program) to at least half-time students who are eligible
for the Federal Pell Grant and who are majoring in
physical, life, or computer sciences, mathematics,
technology, engineering or a critical foreign language;
or non-major single liberal arts programs.
A National SMART Grant will provide up to $4,000 for
each of the third and fourth years of undergraduate
study.
Must be eligible for Pell Grant
9
NYS Math and Science Teaching
Incentive Scholarships


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New York State (NYS) Math & Science Teaching Incentive
Scholarships are offered to encourage students to pursue
careers as secondary math and science teachers (grades 712). This program provides awards to students attending
school at the undergraduate and/or graduate degree level
in exchange for five years of full-time employment as
secondary education math or science teachers.
Recipients shall receive an annual award for full-time study
equal to the annual tuition charged to NYS resident
students attending an undergraduate program at the State
University of New York, or actual tuition charged,
whichever is less. The maximum annual award for the
20010-11 academic year is expected to be $4,995
Visit
http://www.hesc.com/content.nsf/SFC/NYS_Math_and_Sci
ence_Teaching_Incentive_Scholarships to apply in January.
10
Direct Federal Stafford
Loans


Direct Subsidized Stafford Loans: Interest does
not accrue until repayment begins.
Direct Unsubsidized Stafford Loans: Interest
accrues (accumulates) on an unsubsidized loan from
the time it’s first paid out. You can pay the interest
while you are in school and during grace periods and
deferment or forbearance periods, or you can allow it
to accrue and be capitalized (that is, added to the
principal amount of your loan). If you choose not to
pay the interest as it accrues, this will increase the
total amount you have to repay because you will be
charged interest on a higher principal amount.
11
Direct Federal Stafford
Loans

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First Year $5,500—No more than $3,500 of this amount may
be in subsidized loans.
Second Year $6,500—No more than $4,500 of this amount
may be in subsidized loans.
Third and Beyond (each year)$7,500—No more than
$5,500 of this amount may be in subsidized loans.
Interest on Direct Subsidized for Undergraduate
students - If the first disbursement of your subsidized loan is
between July 1, 2010 and June 30, 2011, the interest rate on
your loan is fixed at 4.5%. The interest rate on subsidized
loans first disbursed to undergraduate students between July
1, 2011 and June 30, 2012 will be fixed at 3.4%.
Interest on Direct Unsubsidized for Undergraduate
students - The interest rate is fixed at 6.8% for all borrowers
(undergraduate and graduate).
12
Direct PLUS Loan for Parents


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The annual limit on a PLUS Loan is equal
to the student's cost of attendance
minus any other financial aid the student
receives.
For example, if the cost of attendance is
$6,000 and the student receives $4,000
in other financial aid, the student's
parent can request up to $2,000.
The interest rate is fixed at 7.9%.
Interest is charged from the date of the
first disbursement until the loan is paid
in full.
13
Loan Fees

There is a loan fee on all Direct
Subsidized and Unsubsidized Loans.
The loan fee is a percentage of the
amount of each loan you receive. For
loans first disbursed between July 1,
2010 and June 30, 2011 the loan fee
is 1.0%.
14
The Packaging of
Financial Aid

Almost all financial aid is awarded in
the form of a package. Financial aid
packages are made up of grants,
scholarships, loans, and/or work study.
The student may or may not receive
this with the acceptance letter.
15
Application Process
for most schools.

Free Application for Federal Student Aid
(FAFSA)
 Required for federal, state, and
institutional aid
 Deadlines vary from school to school
 FAFSA on the WEB (www.fafsa.ed.gov)
16
Application Process for
SOME SCHOOLS
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Institutional Aid Application (not very
common)
CSS/Financial Aid PROFILE 2012-2013
Copies of student’s and parents’ 2011 Federal
tax returns for verification purposes
IDOC -College Board collects families' federal
tax returns and other documents on behalf of
participating colleges and programs. The
College Board will notify students selected by
participating institutions when they must
submit the required documents
17
CSS Profile


https://profileonline.collegeboard.com/index.jsp
Be sure to download the student guide
– All students are charged $9 for the initial application.
– This covers the costs of creating your PROFILE
Application and the first school report.
– You will be charged $16 for each additional college or
program to which you want information sent.
– Deadline usually around Feb. 1st
– Fee waivers issued automatically by collegeboard
based on income.
– Only some schools require the non-custodial parent
information. Be sure to view the list of colleges,
universities, and scholarship programs that require
18
the 2012 – 2013 PROFILE Service.
Financial Aid Myths
1.
2.
3.
4.
5.
6.
Students with highest GPAs get all the aid
Income is too high, so don’t bother to apply
Sibling didn’t qualify, so neither will I
Attend the college that offers the most aid
(ratio of gift aid to self-help). Remember, in
most schools loans are considered aid and are
calculated into the final aid package. Some
upper level schools do not consider loans
financial aid and will therefore provide grants in
their place.
Cost is the only way to compare colleges
“Billions of Dollars Unclaimed…”
19
“Billions of Dollars
Unclaimed . . . ”
Scholarship Search Companies

Several warning signs of a possible
scam
– Guaranteed winnings
– “Free seminars” on financial aid
– 1-900 telephone numbers
– www.fafsa.com
CAUTION: As a general rule, if you must pay
money to get money, it might be a scam.
20
BEFORE BEGINNING
THE FAFSA ON THE
WEB
21
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FAFSA on the Web Worksheet
FAFSA Demo Site
Scholarship Search
Career Voyages
Publications
Forms
National Student Loan Data System
Audio and Video Programs About Federal
Student Aid
All can be accessed by visiting
https://studentaid.ed.gov/ and clicking on
“Tools and Resources.”
22

MyFSA is an online account that provides
students with access to college and
scholarship searches, career and selfassessment tools, and other valuable
resources regarding college and financial aid.
Students can set up MyFSA accounts by
visiting www.studentaid.ed.gov and
clicking on "MyFSA." To learn how to use and
take advantage of MyFSA's various functions,
students can click on "Introduction to MyFSA."
23
Aid Estimators

There are tools available to assist you in
estimating the amount of state and
federal aid that you may be eligible for.
For more information visit:
http://www.hesc.com/content.nsf/SFC/6/
Financial_Aid_Calculators
24
FAFSA4caster (highly recommended)
http://www.fafsa4caster.ed.gov

If you want to begin exploring your
financial aid options and get an early start
on the financial aid process, FAFSA4caster
is for you! By using FAFSA4caster, you and
your family will receive an early estimate of
eligibility for federal student aid. When
you’re ready to apply for aid, much of the
information that you enter in the
FAFSA4caster will populate your FAFSA on
the Web application, making the
experience of applying for federal student
aid a lot easier.
25
FAFA on the WEB (FOTW)


FOTW no longer contains numbered
questions.
Tabs are located at the top of each
page to indicate the step that you are
completing.
26
FAFSA.ED.GOV
27
Before Beginning a
FAFSA Overview
28
Documents Needed
•You will need records of income earned in the year prior
to when you will start school. You may also need
records of your parents' income information if you
are a dependent student.
•For the 2012-2013 school year you will need financial
information from 2011. You may need to refer to:
•Your Social Security card. It is important that you
enter your Social Security Number correctly!
•Your driver's license (if any)
29
Documents Needed
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Your 2011 W-2 forms and other records of money
earned
Your (and if married, your spouse's) 2011 Federal
Income Tax Return.
– IRS 1040, 1040A, 1040 EZ
– Foreign Tax Return, or
– Tax Return for Puerto Rico, Guam, American
Samoa, the U.S. Virgin Islands, the Marshall
Islands, the Federal States of Micronesia, or
Palau
Your Parents' 2011 Federal Income Tax Return (if
you are a dependent student)
Your 2011 untaxed income records
Your current bank statements
30
Documents Needed
•Your current business and investment mortgage
information, business and farm records, stock, bond and
other investment records
•Your alien registration or permanent resident card (if you
are not a U.S. citizen)
•To organize your information, you can print and complete
a FAFSA on the Web Worksheet before you begin entering
your information online. However, you are not required to
do so. FAFSA on the Web will guide you through the
questions that you must answer, and you can save your
application and return to it later if you don't have the
information you need to answer any of the questions. 31
Before Beginning a FAFSA – FAFSA on
the Web Worksheet
The FAFSA on the Web Worksheet provides a
preview of the questions that you may be
asked while completing the Free Application for
Federal Student Aid (FAFSA) online at
www.fafsa.gov. To download a copy of the
Worksheet visit:
http://www.fafsa.ed.gov/fotw1213/pdf/fafsaws
13c.pdf
32
FAFSA on the Web Worksheet

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The questions within FAFSA on the Web are
presented in a different order than the questions
on the paper FAFSA.
The FAFSA on the Web Worksheet presents the
questions in relatively the same order as they
are presented within FAFSA on the Web.
Students wanting to pre-fill a paper form in
preparation for submitting their application
online should complete the FAFSA on the Web
Worksheet rather than the paper FAFSA.
33
The Updated Dependency
Worksheet

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The Dependency Worksheet is designed to help
students determine if they need to provide
parental information on the FAFSA.
Students can use the Worksheet prior to
beginning the online application. The
Dependency Worksheet has been updated to
include new dependency questions and
redesigned flow.
34
Dependency Status
Worksheet (2012-2013).
35
Dependency
The student is considered a dependent
unless one of the following criteria is
met:

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The student is older than 24 or else turns 24
during that calendar year.
The student is enrolled in a post-graduate
program.
The student is married.
The student has children, or other non-spouse
dependents, who live with them and receive
more than half of their monetary support from
the student.
36
Dependency Continued..
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The student is an orphan or ward of the state.
The student is a military veteran or (as of July 1st)
currently serving in active duty for purposes other
than training..
The individual schools have the ability to override a
student's dependency on a case-by-case bases.
Each school has their own policies on when and if
they will override. This is usually reserved for
extreme cases, such as abuse or abandonment.
The student has to supply supporting
documentation and jump through several
bureaucratic hoops during this process. The
school's decision is final in this matter. In the event
of transfer to a different institution, the process is
repeated in order to determine the new school's 37
decision on the issue of dependency.
Completing the 2012-2013
FAFSA On The Web (FOTW)
Taking it a Step at a Time
Getting Started
Read all application instructions
If you prefer to mail in the FAFSA, you
can visit
http://studentaid.ed.gov/PORTALSWebA
pp/students/english/forms.jsp#pdfFafsa.
This form allows you to complete the
FAFSA on your computer for printing.
You can not save the FAFSA using this
method. REMEMBER! You are
completing the 2012-2013 FAFSA.
39
The FAFSA - An Eight
Step Process
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Step 1 Student (“you”) Specific Information.
Step 2 Student’s Dependency Status.
Step 3 Completing the Parental Information
“Your Parent” Sections.
Step 4 Students Finances.
Step 5 Searching for Colleges
Step 6 Preparers Information
Step 7 Signatures Process
Step 8 Student and Parent Signatures (PINS)
40
Step 1: STUDENT SPECIFIC
SECTION OF FOTW. Info
about “You” the student
41
Basic Contact Information
•It sounds silly, but make sure the name is in the correct order: Last, First, MI.
•Whenever you're filling out basic information, use the SAME information as
on your IRS tax return, which should be identical to the information on your
SOCIAL SECURITY paperwork/card.
•Your address is the SAME as the address you use on your TAX RETURNS.
•Be absolutely, positively sure you've got the Social Security Number
(SSN) right. Nothing will kill a FAFSA faster than a mistake on the SSN.
42
Basic Contact Information

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No driver's license? State ID will do. No ID
at all? You can safely leave this Question
blank, but it's not encouraged.
Double-check your email address! The
Department of Education will send FAFSA
results to that email address.
Some schools will thoroughly scrutinize your
FAFSA by comparing it with your 1040.
They may confront you with inconsistencies
such as different addresses.
43
The social security number


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If you or your student do not have a valid Social
Security Number, then enter all zeros. You can
not leave this question blank.
Even if you do not have a social security
number, the FAFSA will be used to determine
institutional aid. In other words, NO FAFSA NO
AID.
Since you do not have a social, you can not
receive a pin. You must therefore print and
sign the signature page.
44
Demographics
“You” the Student

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Questions on “marital status” - reminder this is the student, not the parents! “You”
always refers to the student.
Question about Selective Service: Yes, that's
the draft. It is a requirement that males 18
years old or older be registered for the draft.
No Selective Service registration equals no
financial aid.
45
Criminal Records and Parents Education Status “You”
the student
•
•
Question on criminal convictions: answer honestly, and
don't leave it blank. If you have been convicted,
omitting the answer can be a crime. Remember, the
question is just about whether the drug offense was
while you were receiving federal financial aid. Do
NOT count convictions that occurred before you turned
18, unless you were tried as an adult.
Questions on parents education are used to qualify you
for scholarships for students who are the first in their
family to go to college. Be sure to complete this - some
schools have additional aid for students with parents
either from certain educational backgrounds, or who are
the first in their family to go to college.
46
Question on Loans and
Work Study


If you want to qualify for Federal Student
Loans as well as Federal Work Study, you
must select that you are interested on the
FOTW. This does not obligate you to
apply for a loan.
Selecting yes that you are interested
will not reduce your financial aid
package. I recommend that you select
that you are interested.
47
Step 2: Dependency
Status Questions
48
Special Circumstances

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FAFSA on the Web has been updated to allow
dependent students that are unable to provide
parental data to submit their application online
No EFC will be calculated and students will be
advised of the consequences of submitting an
application without parental data
Students will be advised to follow-up with the
financial aid office at the college they plan to
attend.
49
Special Circumstances: Page 1 of 3
Displayed only if student is dependent. Student can
indicate that they will provide parental information or
they can indicate they have a special circumstance.
50
Special Circumstances: Page 2 of
3 Displayed only if a dependent student
indicated that they have a special circumstance
on page 1.
51
Special Circumstances: Page 3 of 3
Displayed only if a dependent student indicates that
they have a special circumstance on page 2. Students
must now confirm that they understand their FAFSA
will be submitted without calculating an EFC.
52
Step 3: Completing the
Parental Information “Your
Parent” Sections.
53
Who is “Your Parent”
Parent?
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Obviously, if you live at home with your married parents, they
are your parents.
If a parent is widowed or single, fill in the questions
appropriately.
A step-parent (after marriage) is considered a parent from a
financial aid perspective.
If the parents are divorced or separated, the parent is
considered to be the one which the student lived with
more in the past 12 months, not necessarily the person
who claimed him as a dependent on their tax return.
If the student did not live with either parent in a
divorced/separated situation, the parent is the one who
contributed more financial assistance in the past 12 months.
If the student did not receive appreciably more support
from one parent or another, the parent is the one who
claims the student as a dependent on the IRS tax
54
return.
Who is “Your Parent”
Parent?

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A foster parent, legal guardian, or a grandparent or
other relative is not treated as a parent for
purposes of filing a FAFSA unless that person has
legally adopted the applicant.
An adoptive parent is treated in the same manner
as a biological parent on the FAFSA.
The question of parents and dependents is one of
the trickiest on the FAFSA. You may need to contact
your financial aid officer to get a "professional
judgment" or a "dependency override" if you're in a
tricky situation, but you MUST file the FAFSA as a
dependent student with as much information as
possible on the parent regardless of your living
situation if you otherwise meet the terms of a
55
dependent student.
WHO IS “Your Parent”? Q&A
QUESTION: My parents are divorced, and
the parent I'm living with has remarried.
Does my step-parent have to report his or
her income and assets on the FAFSA?
ANSWER: Yes, provided that the parent
you're living with is the one filling out the
FAFSA (your custodial parent).
56
WHO IS “Your Parent”? Q&A
QUESTION: My parents are separated or divorced. Which parent is
responsible for filling out the FAFSA?
ANSWER: If your parents are separated or divorced, the custodial
parent is responsible for filling out the FAFSA. The custodial parent
is the parent with whom you LIVED the most during the past 12
months. Note that this is not necessarily the same as the parent
who has legal custody. If you did not live with one parent more
than the other, the parent who provided you with the most
financial support should fill out the FAFSA. This is probably the
parent who claimed you as a dependent on their tax return. If you
have not received any support from either parent during the past
12 months, use the most recent calendar year for which you
received some support from a parent or lived with either parent.
Note, however, that any child support and/or alimony received from
the non-custodial parent must be included on the FAFSA.
57
Entering Parental Data
58
Parental Information

Household size: include yourself (the student) in
the parents' household even if you don't live with
them. Also include:
– Siblings if the parents provide more than 50% support
– Other people for whom the parents provide more than
50% support (i.e. grandparents living in the house, etc.)
– Babies on the way who will be born before the start of the
coming school year.

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The more people who live in a household, the
better.
How many in college question: Always include the
student - this number should never be zero.
59
Parental Information (Assets)

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Time again to empty out those assets as much as
possible. With parents, it's likely you will have more
investments than a child/student, so those investments
with a positive net worth need to be offset by something
with a negative net worth, or those financial instruments
should be shifted to someone else to manage.
For questions about checking, savings, and investments,
they are as of the date the FAFSA is filed, so make sure
you move or spend appropriately!
A reminder: parents' investments and financial standing
is given less weight in financial aid considerations than
students' financial standings.
60
Dislocated Worker
This question asks if either of your parents is a dislocated worker.
Answer this question about the parent who is completing the
application
In general, 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; or
 is a displaced homemaker. A displaced homemaker is generally a
person who previously provided unpaid services to the family (for
example: a stay-at-home mom or dad), is no longer supported by
the husband or wife, is unemployed or underemployed, and is
having trouble finding or upgrading employment.
 If a person quits work, generally he or she is not considered a
dislocated worker even if, for example, the person is receiving61
unemployment benefits.
Selecting “will file” instead
of “have filed” on the tax
return question




If you complete the 2012-2013 FAFSA prior to
completing you 2011 tax return, then you must
select “will file” for tax return status.
If you select “will file” and submit the FAFSA, then
you will need to edit the FAFSA once you file your
2011 tax return.
You do this by “making corrections to a processed
FAFSA” and changing the question from “will file” to
“have filed” and making any financial adjustments.
Remember! DO NOT use tax information from
2010, estimate 2011 tax and income information
from 2011 W2 and paystubs.
62
Step 4: Students
Finances
63
Should “You” the student
file a tax return?


If you expect to file a single return,
the IRS requires you to file a return for
2011 if your gross income for the year
is at least:
$9,350 if you are under age 65.
64
Student Cash and Assets


Now we're getting into the complex stuff.
Question on how much the student has on
hand in terms of liquid assets. Cash,
checking, and savings accounts. Guess what
the best answer for this question is? Zero. If
it's not zero, make sure it's zero by the time
you file.
For this question, it's also important to note
that it is as of the date of the FAFSA filing,
meaning you have the opportunity to move
these assets prior to filing the FAFSA and
still be legally in full compliance.
65
Student Net Worth


This is an important one as well - the
ideal situation from a federal financial
aid perspective is for a student to have
no money whatsoever.
Note that your net worth, at least for
financial aid purposes, cannot be
negative. Zero is as low as you can go,
so zero is the goal.
66
Expected Family
Contribution (EFC)
67
Expected Family
Contribution (EFC)
The Expected Family Contribution (EFC) is a number that is used to
determine a student’s eligibility for federal student aid. This number
results from the financial information the student provides on his or
her Free Application for Federal Student Aid (FAFSA). The EFC is
reported on the Student Aid Report (SAR). Financial aid
administrators (FAAs) determine an applicant’s need for federal
student aid from the U.S. Department of Education (the
Department) and other sources of assistance by subtracting the
EFC from the student’s cost of attendance (COA).
The EFC formula is used to determine the EFC and ultimately
determine the need for aid from the following types of federal
student financial assistance programs:
 Federal Pell Grant,
 Teacher Education Assistance for College and Higher Education
Grant (TEACH Grant),
 “Campus-based” aid programs
 Federal Supplemental Educational Opportunity Grant (FSEOG),
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 Federal Loans, and
 Federal Work-Study (FWS).
Simplified EFC
Students who qualify for the
simplified EFC formula DO NOT
have to answer questions on
“assets”
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Means Tested Federal Benefits
Questions
70
Automatic Zero EFC


Certain students are automatically
eligible for a zero EFC.
That means that they will qualify for
the full amount of Federal Financial
Aid.
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Step 5: Searching for
Colleges
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The Homestretch



Indicate which schools you, the student,
plan to attend and where you plan to live
while attending school.
To get the six-digit school code, use the
FAFSA School Codes Search Directory.
This should be a list of the top schools you
plan to attend. If you don't have a lot of
schools, add backup schools to the list. If
you have more schools you are planning to
attend than there are spaces, fill in your top
choices.
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Searching for College Codes
74
Searching for College Codes
75
Searching for College Codes
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Step 7: Signature Process
77
Pin Options From
www.pin.ed.gov
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PIN: Personal Identification
Number with the U.S. Dept. of
Education www.pin.ed.gov

Why is PIN important?
 Can be used as the student's signature when
completing the FAFSA on-line.
 Will allow student to access other Dept. of Education
databases in the future.
 PINs are specific to an individual. A parent will also
obtain a PIN so s/he can also sign FAFSA
electronically.
 If student and/or parent does not "sign" the FAFSA
with a PIN, the signature page MUST be printed from
the www.fafsa.ed.gov website, signed and mailed to
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the federal processor.
Obtaining a PIN

You can apply for a pin while you are
completing the FAFSA online. This method
allows you to designate your pin in real
time. It is recommended that you use four
digits that you will remember. If you have
previously applied for a pin, you will need
that pin to sign the FAFSA. This includes if
you applied for financial aid for yourself or
another child.
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Signature Process Student Pin
81
Agreement and Display of Application
Information
82
Signature Process - Parents
83
Signature Page – Student and ParentOnly if you can not apply for a pin
because you do not have a social
84
Agreement, Display of Application
Information, and Submit My FAFSA Now
85
Print confirmation page and
follow link to apply for statebased aid (TAP)
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Tuition Assistance
Program




Start the TAP application process by completing and submitting
the Free Application for Federal Student Aid (FAFSA)
electronically at www.fafsa.ed.gov. New York State will use
FAFSA information as part of your application for TAP.
If you apply using FAFSA-on-the-Web, you will be able to
link to your online TAP application at the end of the
FAFSA session. This is a one shot deal. If you don’t link
you have to complete the TAP application manually.
You will be asked to establish a PIN (Personal Identification
Number) for TAP. The TAP PIN will allow you complete your
application, keep track of your application information, or make
changes, later. After establishing your PIN, you will be able to
complete your TAP application online. Information from your
FAFSA and your family's calculated NYS net taxable income will
be pre-filled on your TAP-on- the -Web application. Follow the
instructions provided.
TAP can provide students’ whose parent’s New York State
taxable income is below $80,000 with grants ranging from
$500-5,000.
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What Happens
Next?


Student and school receive Student Aid Report
(SAR) or (ISIR) from federal processor
School matches admissions record with
financial aid application and determines
eligibility

School mails Award Letter to student

Student mails Award Letter back to school
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Making Corrections or
adding schools.


You can edit a submitted FAFSA online
by using your pin. Once the
corrections are made you must
resubmit using pin.
If you have more than ten schools and
would like to add them later you can
do so by editing the online FAFSA. Be
sure that the schools that you remove
have already uploaded your SAR.
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Special Circumstances
1.
2.
Tell your family’s whole financial situation
by either speaking to the financial aid rep.
at the school, using the CSS PROFILE’s
“anything else” section, and the FAFSA
special circumstances section.
Some reasons your child might ask for
more aid:
• Another college gave your student a
better offer.
• Someone in your family loses their job
• Your child’s books cost more than they
estimated.
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Request for Professional Judgment
•
•
•
Professional judgment is used to take into consideration
factors which have not been reflected on the FAFSA. The
professional judgment may either increase or decrease
data elements used to calculate a student’s EFC. Expenses
may also be added to a student’s budgeted cost of
attendance depending on the situation.
The Director of Financial Aid is expected and required to
make reasonable decisions that support the intent of the
provision. The school is held accountable for all
professional judgment decisions made and for fully
documenting each decision. The decision of the Director of
Financial Aid is final; there is no appeal process to the U.S.
Department of Education.
To request a professional judgment, speak with an
admissions representative at each school that your student
was accepted into.
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The Award Letter

Provides Important Information

Types and amounts of aid offered

Specific program information

Student responsibilities

Conditions governing awards

Award
Letter
Opportunity to accept or decline
awards
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Figuring Out the Best
Deal


•
•
•
Develop an Award Comparison Chart or download at
www.webreader.com/download/school-costcomparison.xls
Consider direct, non-direct and total costs at each
institution
Review types, amounts and renewability of gift aid
(free money)
Compare types and amounts of self-help aid (workstudy and/or loans)
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Determine any amount you’ll need to pay in addition
to awards being offered
Final Steps
Once you have determined which college
to attend:
•
Notify the other colleges that you will
not be attending
•
Contact your Financial Aid Office and
furnish them with all requested
documentation
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EOP/HEOP/SEEK



Special financial aid programs which
reduce academic admission
requirements for students that meet
specific financial and academic criteria.
Programs range from free tuition,
room and board to small grants.
Extremely competitive programs.
Timeliness is critical.
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EOP/HEOP/SEEK
Continued



Be sure that the student checks the appropriate box
on the application to be considered for these
programs.
If you are unsure that your student may qualify,
check the box anyway.
The school’s financial aid office will make a
determination based on:
–
–
–
–
–
–
The FAFSA
Copies of financial documents
Special Circumstances
Student’s academic records (Transcripts/SAT)
Supplemental Applications.
CSS Profile
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Financial Aid Links to
remember












www.fafsa.ed.gov
www.pin.ed.gov
http://www.finaid.org/
http://www.hispanicfund.org/
http://www.nycolleges.org/
http://www.hesc.com/content.nsf/
http://www.collegeanswer.com/
www.college.gov
https://studentaid.ed.gov/
www.suny.edu
www.cuny.edu
www.heop.org
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Complete Spanish FOTW Site
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Finally…
 ENJOY
COLLEGE!!!
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CONTACT INFORMATION




Mr. Giordano
TapcoCounselor@gmail.com
Web site:www.admissionsandaid.com
Facebook Page: Theatre Arts
Production Company School
College Guidance
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REMINDERS and tips for 2012/2013
FAFSA
online






You may complete the Free Application for Federal Student
Aid (FAFSA) on-line at www.fafsa.ed.gov.
In order to electronically sign your FAFSA, you need to
obtain a PIN. Go to www.pin.ed.gov to register. If you are a
dependent student, one of your parents will also need a
PIN.
Please note that the online FAFSA has a link to the PIN
website and you can complete your PIN application at the
same time you are completing the FAFSA.
Use your full name as it appears on your social security
card.
Read all questions carefully. “You” refers to the student, not
the parent.
Males between the ages of 18 and 25 should be registered
for selective service. If not registered, you may register 102on
the FAFSA.
REMINDERS and tips for 2012/2013 FAFSA
online






If 2011 taxes are not completed, you may estimate your
income. Be sure to select that you “will file.”
Once your income taxes are completed, you should correct
the estimations with the actual information.
Your parent(s) must complete their section if you do not
meet the criteria for an independent student.
According to the U.S. Department of Education, a parent is
defined as your biological or adoptive mother or father.
Grandparents, foster parents, and legal guardians are not
considered parents.
A stepparent who is married to the parent you lived with
during the past 12 months is also considered a parent.
Get your colleges’ Title IV school codes. You can ask your
college(s) or go to www.fafsa.ed.gov and click on Find My
School Codes.
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REMINDERS and tips for 2012/2013 FAFSA
online




Before you submit your on-line FAFSA, print a copy
of your Summary page and check for accuracy.
After you have submitted your on-line FAFSA, print
a copy of your Confirmation page.
Keep all copies and file in a safe place.
If you selected “will file” on the FAFSA regarding
your 2011 tax return, you MUST change this once
you have filed your 2011 tax return by submitting
FAFSA corrections.
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10 ways to improve your
student aid eligibility:



Don’t delay. If you file your income taxes around the April
15th deadline, don’t wait until your taxes are completed to file
your FAFSA or you will miss most of the state and college
student aid deadlines. Most programs award aid on a firstcome, first-serve basis. Providing accurate estimates on the
FAFSA is perfectly fine. Be careful when calculating or
estimating your adjusted gross income. Answering this
question incorrectly won’t cause your FAFSA to be rejected,
but could lower your aid award. Remember, your taxable
income is not your adjusted gross income.
Don’t include untaxed Social Security as income. The law
changed this year. Reporting it will inflate your expected
family contribution and lower the amount of aid for which you
are eligible.
Children of divorced parents typically believe that the parent
they live with is their legal guardian and that they are in a
legal guardianship. This is not true in all cases. A wrong
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answer will incorrectly change the student’s dependency
status to “independent” and impact the aid calculation.
10 ways to improve your
student aid eligibility:

More families are withdrawing funds
from retirement accounts early –
sometimes it’s taxed and sometimes
it’s not. Counting these funds in both
adjusted gross income and untaxed
income will inflate your expected
family contribution and decrease aid.
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10 ways to improve your
student aid eligibility:



Consider getting student aid advice and FAFSA preparation
help from paid professionals. Federal law allows paid
professional FAFSA preparation, much like tax advisors help
families prepare their taxes accurately and correctly to
maximize their tax refunds. Choose a professional FAFSA
preparer who has a good Better Business Bureau rating,
uses people to review each answer to ensure accuracy,
receives high ratings from past clients, and has the goal of
making you eligible for the most aid possible. With the
average student aid award of $9,500 at stake, help from a
professional FAFSA preparer can relieve some of the stress
of finding money for college.
Don’t include your primary residence as an asset, or you
will be inflating your expected family contribution and
lowering your potential for aid.
Not all businesses are treated the same when calculating
assets. Different rules apply to family-owned businesses
employing fewer than 100 people. Getting this wrong won’t107
reject your FAFSA, but it could lower the amount of aid for
which you are eligible.
10 ways to improve your
student aid eligibility:





List your last name exactly as it appears on your Social
Security card or your FAFSA will be rejected.
Double-check all numbers. That sounds simple, but
transposing numbers is one of the most common mistakes
and will affect your aid award.
Meeting state and college deadlines is essential to receiving
aid.
“With 70 percent of all state and college deadlines falling
before April 15, 2010, it is critical that students and their
families prepare their aid application now – even if they
have to estimate income,” Carroll said. “Otherwise, they risk
losing out on aid.”
The first state deadline is Connecticut’s on Sunday, Feb. 15,
2011. Eight states and 765 colleges have their FAFSA
deadline on March 1, 2011. New York’s deadline is
5/1/2011
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