Office of Student Financial Aid
presents ….
2016 Financial Aid Awareness:
A Night of Golden Opportunities
and
Empowerment
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Welcome to XULA!
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Table of Content
 General Requirements and
 Outreach Program
Information
….. Students
 The Financial Aid Process
..... The Free Application for
Student A id
.… Results
…. What’s next
 Award Process
.…. Determining Factors
….. Notification
….. Programs
….. Retention
….. Financial Literary
 General Information
….. Parents
….. Hot Topics
Federal
..... State: TOPS
 Ms. Kendra Woods, LOSFA
Representative
 Scholarships
…. Institutional and
External
Scholarship Resources
Ms. Pearl Algere-Lonian, A sst.V.P. of
A cademic A ffairs, Scholarships and
Special programs
 Q &A
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Financial Aid Process
• This presentation will enhance your
knowledge of applying for Financial Aid:
• The application is Free (www.fafsa.ed.gov)
• Application is used to determine your
eligibility for financial aid assistance
• You may be eligible for different types of aid
that fall into two (2) categories:
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Categories of Financial Aid

Need-based
Federal Pell Grant
Supplemental Educational Opportunity Grant (SEOG)
Federal Direct Subsidized Stafford Loan
Federal Work Study

Non need-based
Scholarship
Federal Direct Unsubsidized Stafford Loan
Federal Parent PLUS Loan
Private Loan
Teacher Education Access for College and Higher Education (TEACH)
Grant
Please see the details of this information found in your package the Green Book entitled “Funding Your
Education”
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•
Free Application for Federal Student Aid
FAFSA
A free-of-cost application
that collects demographic and
financial information about
the student and family
•
Used to determine Federal
financial aid eligibility
•
File application electronically
•
To begin and sign
electronically, must have an
FSAID and password
•
Available January 1, 2016 ;
XULA Priority date is
April 15, 2016
•
Website:
www.fafsa.ed.gov
•
Accuracy is important;
Please read information
carefully
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Free Application for Federal Student Aid (FAFSA):
Student and Parent(s) information
• Social Security Number (can be found on Social Security card)
• Driver’s license number (if any)
• W-2 Forms for the previous year and other records of money earned
• (and your spouse’s, if you are married) most recent Federal Income Tax
Return – IRS Form 1040, 1040A, 1040EZ, 1040Telefile, foreign tax return,
or tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin
Islands, the Marshall Islands, the Federated States of Micronesia
• Federal Income Tax Return for the previous year (if you are a dependent
student as defined by federal criteria)
• Your current bank statements
• Current business and investment mortgage information, business and farm
records, stock, bond, and other investment records
• Documentation that you are a U.S. permanent resident or other eligible
noncitizen
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FAFSA: Commonly Made Mistakes
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Misspelling of name; not reporting suffix.
List name as it appears on birth certificate.
Listing incorrect Social Security Number or
Driver’s license number.
Leaving blank fields – enter a ‘0’ or ‘not
applicable’ instead of leaving a blank. Too
many blanks may cause miscalculations and
an application rejection.
Using commas or decimal points in
numeric fields – always round to the
nearest dollar.
Entering the wrong federal income tax
paid amount – obtain your federal income
paid amount from your income tax return
forms, not your W-2 form(s).
Listing Adjusted Gross Income as equal
to total income – these are not the same
figure. In most cases, the AGI is larger than
the total income.
Listing marital status incorrectly – only
write “yes” if you’re currently married (on
the day you sign the FAFSA).
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Listing parent marital status incorrectly –
the custodial parent’s marital status is
needed; if they’ve remarried, you’ll need the
stepparent’s information too.
Forgetting to list the college – obtain the
Federal School Code for the college you
plan on attending and list it–along with any
other schools to which you’ve applied.
Forgetting to sign and date – if you’re filling
out the paper FAFSA, be sure to sign it. If
you’re filing electronically, be sure to create
your FSA ID and password at
www.fafsa.ed.gov, separately for student
and parent, if applicable.
Entering the wrong address – your
permanent address is not your campus or
summer address.
Sending in a copy of your income tax
returns – you will be contacted if your
information needs verification; you don’t
need to send a copy of your tax returns in
with your application.
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FAFSA on the Web
Step One:
Student Information
•
After logging in with FSA
ID and password, personal
information appears
automatically
•
Information is used to
determine match with
Social Security
Administration (SSA)
•
Email address is where
FAFSA results will be sent
Commonly made
mistakes include:
- Missing suffix on name
- Social Security Number
- Date of Birth
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FAFSA on the Web
Step Two, Part A:
Student Eligibility
•
Citizenship status:
Only U.S. Citizens and
certain classes of eligible
non-citizens qualify
•
Selective Service:
Male student can request
registration to occur
through the FAFSA
•
Student’s academic
status: All questions
pertains to student’s status
as of 2016-2017 school
year
Students who’ve already
received their first bachelor’s
degree are deemed ineligible for
certain Federal grants
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FAFSA on the Web
Step Two, Part B:
Student Eligibility
• Student must list high
school
• Select name
• Click “Confirm” to
submit the school
listed:
U.S. Citizens: Not confirming
school creates a high possibility of
selection of verification for
“Identity and Educational
Purposes”
Eligible Non-Citizens:
Are able to list school outside of
U.S.
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FAFSA on the Web
Step Three:
School Selection
• List Xavier
University of
Louisiana as your #1
Choice!!!!!!
School Code: 002032
•
Housing plans:
Helps to determine
Cost of Attendance
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FAFSA on the Web Step Four:
Student Dependency
“Dependent or Independent, that is the question”
•
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Born before Jan. 1, 1993
Veteran of Armed Duty
Active duty - military
Married
Children or other dependents
Both parents deceased
Foster care past age 13
Dependent/ward of court past age
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Legal guardianship
Emancipated minor
Homeless or at risk of
homelessness
Working on Master’s Degree
If you answered “NO” to every question: You are
considered Dependent and parental information
is required
If you answered “Yes” to any: You are
considered Independent*
* (However, additional information may be required by
college/university)
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FAFSA on the Web
Step Five:
Parent Demographics
•
Section is for parent(s)
(biological, adoptive,
and stepparent)
demographic information
•
Marital status at the time
of the completion of the
FAFSA
•
If married, both the
biological, adoptive,
and/or stepparent must be
included
•
Number in household
Commonly made
mistakes include:
- Name
- Social Security Number
- Marital Status
- Number in Household/in college
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FAFSA on the Web Step Six, Part A:
Parent/Student Financial Information
Manually reporting financial information is one option…..
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However,
FAFSA on the Web Step Six, Part B:
Parent and Student Financial Info….
IRS Data Retrieval Tool (DRT)
•
Highly
recommended to
use for both parent
and student, if
applicable
•
Reduces documents
requested by Financial
Aid Office for the
process called
“Verification”
•
If you and/or parent were
not required to file, you may
move forward to the next
page regarding untaxed
income and assets
• Real-time request in the
FAFSA to import IRS tax
data
•
Once retrieved from IRS
portal, must authorize
transfer
•
Fills in majority of
financial information;
only untaxed income,
banking, and other assets
remain to report
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FAFSA on the Web Step Seven …..
Sign, Seal, Submit!... Student and
Parent must have their own FSA ID
and Password
Confirmation Page ….
“Estimated” results
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Student Aid Report (SAR)
•
Different from a
“Confirmation” page
•
Is for your records to
review for accuracy;
School(s) listed is
provided with results
electronically
•
Provides the actual
Expected Family
Contribution (EFC)
number-
•
Provides aid eligibility
matches
•
First to inform applicant
of any inconsistencies
•
Update estimated
information when actual
figures are available
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Verification Process
 Federal aid process that requires submission of
documents to the Office of Student Financial Aid.
 Before awarding may occur, process must be completed
 Electronic notification sent to student’s XULA email
account
 Requirements are posted on student’s Banner Web
account
 During peak of processing, completion may take 2-3
weeks (pending all required documents have been
received)
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Verification Process
(Example of Requirements)
 Dependent or Independent Verification Worksheet
 Additional Information Worksheet
 IRS Tax Return Transcript,W2, 1099MISC, 1098-T, Schedule
C/C-EZ/K
 Other sources of income and assets
 Birth Certificate, Certificate of Citizenship/Naturalization
 High School Diploma
 Special circumstances require case-by-case professional
determination
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Verification Process
Be proactive….. Any missing
documents will delay your
awarding process
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Financial Need
Cost-of-Attendance (COA)
• Is not actual the bill from XULA
• Estimated amount of all possible
expenses to attend the
University for the academic year.
• Includes tuition and fees; oncampus room and board (or a
housing and food allowance for
off-campus students);
• A llowance for books, supplies,
transportation, loan fees, and, if
applicable, dependent care
• Other expenses on case-by-case
basis
Expected Family
Contribution (EFC)
• A mount family can reasonably be
expected to contribute
• Formula designed by Federal
government; based on various
factors from the FA FSA
- Demographic
- Family size
- Income
- A ssets and other financial benefits
• Stays the same regardless of college
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Financial Need
• Funding provided to students and families to assist
with the cost of postsecondary educational expenses
• Calculated by formula using Cost-of-Attendance
(COA) and
Expected Family Contribution Number (EFC)
Cost of Attendance (COA) – Expected Family Contribution
=
Financial Need- Based Aid
Cost of Attendance (COA) – Financial Aid Awarded So Far*
=
Eligibility for Non Need-Based Aid
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Award Notification
 Your Financial Aid Award Letter is
sent electronically and will outline
the terms and conditions of your
award offer
 All electronic correspondences are
sent to your XULA email and
Banner Web accounts with
directions on how to view and
submit your decision. It is essential
to check both accounts daily.
 Notification may include, but not
limited to:
Request for Information,
Verification Status,
Award Notice,
Change in your Financial Aid
Package…..
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Satisfactory Academic Progress
(SAP)
 Federal requirement that University implements an
academic (retention) policy to determine eligibility for future
financial aid
 Review occurs at the end of each Spring semester
 Three components evaluated eligibility:
Cumulative Grade Point Average
Earned/Attempted Ratio (PACE)
Maximum Timeframe (ability to obtain degree within the
required time)
Please be sure to review the SAP policy
http://www.xula.edu/financial-aid/sap-policy.php
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Parental Guidance:
Family Education Rights and Privacy
Act (FERPA)
The purpose of FERPA law is to ensure educational
records are kept private. "Educational records" includes
most information that are:
(a) directly related to a student and
(b) maintained by the school
Completing the FERPA Waiver online:
http://www.xula.edu/registrar/ferpa.php
Or
through the student’s Banner Web account
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Outreach Program: Financial Literacy
 A creative initiative program to assist students in maximizing
their knowledge of how to use their finances wisely while in
school and beyond
 A wealth of information that when applied should enable them
to finish college with less debt and maximize their finances
after graduation
 Workshops, Literature, Social Media Campaigns
 Save the Dates! Participate! Attend Workshops! Share with
friends! Follow us on social media
Twitter-- @XulaWeCare
Facebook-XulaWeCare
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“Prior-Prior Year”
White House signed bill that includes changes to
Federal Financial Aid process effective for 2017-2018
academic year:
- 2017-2018 FAFSA can be filed as early as October 2016
- Allows taxes from TWO years “prior”
- Taxes already filed and data is correct from previous year
- Better aligned with college application year
- Financial Aid information available further in advance of college
decision deadlines
- Allows for more at-ease, well-informed college and financial aid
decisions
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CONTACT INFORMATION
Physical Address
Xavier South Building, Suite 360
909 South Jefferson Davis Parkway
New Orleans, Louisiana 70118
Mailing Address
Xavier University of Louisiana
Office of Student Financial Aid
1 Drexel Drive, Box 40
New Orleans, Louisiana 70125-1098
Office Hours
Monday – Friday *
8:30 a.m. – 4:30 p.m.
(First two months of each semester,
office is open Tuesdays until 6:00)
Phone and Electronic
504-520-7835 (Main)
504-520-7906 (Fax)
FINAID@xula.edu
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State Scholarship: Louisiana Residents
Taylor Opportunity Program for
Students (TOPS)
Ms. Kendra Woods
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Additional Scholarship
Information
Ms. Pearl Algere-Lonian
Assistant Vice President, Scholarship &
Special Programs
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Q&A
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Have a safe travel home!
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