Financial Aid Night
AT CARMEL HIGH SCHOOL
JANUARY 22, 2015
Welcome CHS Parents and Students!
Tonight we will…
Share information about CHS financial aid and scholarship
resources
Announce upcoming events related to financial aid and
scholarships
Hear about local scholarship opportunities from Paul McCarthy,
Scholarship Chairman, Carmel Education Foundation (CEF)
Learn more about the financial aid process from Leslie
Middleton, Associate Director of Financial, Butler University
CHS Financial Aid and Scholarship Resources
CHS Counselors and CCRC College Advisors can help!
CHS Counseling Website—find information and links to reputable financial aid
and scholarship sources http://www1.ccs.k12.in.us/chs/counseling
CHS College & Career Resource Center Programming Events
Scholarship Wall – located in the counseling office
Carmel Education Foundation (CEF) Scholarships
http://www1.ccs.k12.in.us/foundation/Scholarships
Social Media: Facebook & Twitter— Like us on Facebook at “Carmel High
School College Counseling” AND Follow us on Twitter @CHSCollege411
Upcoming Financial Aid Events
FAFSA Completion Workshop: Thursday, February 5th 10:00 a.m.-1:00 p.m. &
3:00-7:00 p.m. CHS Media Center Get help completing your FAFSA no matter
where you are in the process. Ask Questions and get answers from ISM College
Planning Representatives http://ismcollegeplanning.org
FAFSA Friday: Friday, February 20th Noon and 6 p.m. FafsaFriday.org Get all of
your financial aid questions answered live by experts during a live webinar
College Goal Sunday: Sunday, February 22nd 2:00-4:00 p.m. Various Sites
throughout Central Indiana Get help completing your FAFSA from financial aid
professionals. This is a state-wide event, and more information can be found at:
http://collegegoalsunday.org/
Paul McCarthy,
Scholarship Chairman,
Carmel Education
Foundation (CEF)
www1.ccs.k12.in.us/foundation/Scholarships
Application Deadline: March 13, 2015
Scholarship Name
Description
Essay?
GPA
A lan K. Miller A cademic
Established in memory of Alan K. Miller who lost
his life in a tragic accident while employed with the
Miller Pipeline Co.
A lan K. Miller Engineering
Established in memory of Alan K. Miller, this
scholarship will be awarded to a CHS senior who
has been accepted in the Purdue School of
Engineering.
Pursuing
engineering
degree at Purdue
A lan K. Miller Wrestling
Established in memory of Alan K. Miller, this
scholarship will be awarded to a senior member of
the Carmel wrestling team who has exemplified
special qualities of dedication and perseverance
and who has been accepted at a college or
university.
Senior Member of
Wrestling Team
A llan C. Chyba
Allan was a former Ambassador who died in 1998.
Awarded to student who has been a member of
the Ambassador Show Choir at least 2 years & has
participated in a middle school music program.
Recipient is recommended by Ambassadors Choir
director. Primary consideration will be placed on an
individual’s personal attitude and the level of
enthusiasm rather than solely on performing skills.
Extra involvement in drama or theatre technology
would be positive qualifying attributes.
A mbassador Club "A Touch
of Class" A ward
3.5 or
higher
yes
SA T/
A CT
Yes
FA FSA ?
Yes
ExtraCurricular
School or
community
activities
A dditional
Criteria
2.8 or
higher
Ambassadors
Show Choirs (2
Yrs.); Perf. Arts
Major; Middle
School music
program
This scholarship is available to members of the
Ambassadors demonstrating high levels of
involvement and commitment and contributing to
the Ambassador organization with a touch of class.
3.5 or
higher
Current member
of the
Ambassadors
A mbassador Club Choral
Dept. #1
Available to students who participated in any nonAmbassador CHS choirs, preferably for 4 yrs.
Recipients must demonstrate a consistent
commitment, high level of enthusiasm, and positive
attitude toward CHS choral department activities.
Recipient recommended by choral dept. directors.
Applicants must provide a resume of all CHS choral
activities with application. Ambassador members
do not qualify for this scholarship.
3.0 or
higher
Yes
Any nonAmbassador CHS
choral activities,
preference for 4
years
A mbassador Club Choral
Dept. #2
Available to students who participated in any nonAmbassador CHS choirs, preferably for 4 yrs.
Recipients must demonstrate a consistent
commitment, high level of enthusiasm, and positive
attitude toward CHS choral department activities.
Recipient recommended by choral dept. directors.
Applicants must provide a resume of all CHS choral
activities with application. Ambassador members
do not qualify for this scholarship.
3.0 or
higher
Yes
Any nonAmbassador CHS
choral activities,
preference for 4
years
A mbassador Club Peer
Recognition
This scholarship is available to an Ambassador
member who has been selected by his/her peers
as demonstrating outstanding commitment,
dedication and leadership.
2.5 or
higher
A my Kline Memorial
Scholarship
This scholarship will be awarded to a senior
attending Indiana University, majoring in education,
and has been active in the community and with
Carmel High School activities.
Current member
of the
Ambassadors
Community &
School
involvement
IU
“An investment in
knowledge always pays the
highest return.”
-Benjamin Franklin
PARTNERSHIPS
APPLICATIONS
Application for Admission
• May double as a scholarship application
• Apply early for best opportunity
Free Application for Federal Student Aid (FAFSA)
• Federal financial aid application
• Apply online at www.fafsa.gov between January 1 and March 1
• Application must be completed for each academic year
Institutional Aid Application or the CSS PROFILE
• Check with each school for required applications
THE EFC – FROM THE FAFSA
• Calculated by the FAFSA
• Score of family’s financial strength
• Used to determine federal, state, and institutional aid
• Ranges from 0 to 999,999
COST OF ATTENDANCE (COA)
Direct costs typically charged by the college:
Tuition
and fees
Cost of living in
dorms
+
Cost of meal
plans on campus
+
Indirect costs that may not be charged by the college:
Allowance for
books and
supplies
+
Allowance for
personal expenses
and a few meals out
+
Allowance for
transportation
FINANCIAL ELIGIBILITY
Total Cost of
Attendance
Expected
Family
Contribution
(EFC)*
Financial
Need
*Note: This is not the same as the student’s bill or the amount a family
will actually pay for the student to attend college
COMPARISON OF NEED
High Cost School
Low Cost School
Cost
$50,000
$25,000
(-) EFC
$25,000
$25,000
(=) Need
$25,000
$0
*The EFC remains the same at each school
FINANCIAL AID OFFER
• Federal, State and
Institutional Aid
• Financial aid offers
are sent around
March
FAMILY RESPONSIBILITY
(Out of Pocket Expenses)
Direct Costs
Financial
Aid Offered
Out of
Pocket
Expenses
TYPES OF FINANCIAL AID
Gift Assistance
Self-Help
• Institutional Gift Programs • Federal Loan Programs
• Federal Work Study
• Federal Grants
• State Grants
FINANCING OPTIONS
• College Savings Plans
• Payment Plans
• Federal Direct Parent PLUS Loans
• Private Education Loans
OUTSIDE SCHOLARSHIPS
• Free Online Scholarship Searches
•
•
•
•
www.fastweb.com
www.finaid.org
www.collegeboard.org
www.collegeanswer.com
• High School Guidance Office
• Community Foundations
• Employers
• Churches
• Civic Organizations
IS THIS COLLEGE AFFORDABLE?
A candid review of family resources is essential.
• Parents –
• Current income
• Savings or investments
• Home Equity
• College Savings Plans
• Student –
• Savings or investments
• Summer earnings
• Academic year earnings
• Other resources
TIPS & STRATEGIES
• File the FAFSA
• Be informed
• Set goals/expectations for
student
• Meet deadlines! Keep copies!
• Keep a positive attitude
• Consider all aid options
• Ask for help
COMPLETING THE
FREE APPLICATION FOR
FEDERAL STUDENT AID
(FAFSA)
WWW.FAFSA.GOV
• Complete the
FAFSA between
January 1 and
March 1 of your
senior year
WWW.PIN.ED.GOV
• Electronic
signature for the
FAFSA
• Student and
one parent
needs PIN
• May apply
anytime
• Use same PIN
each year
• Will change to a
password
WHAT YOU WILL NEED…
Social security card
Income information for the student & parent(s)
• 2014 federal income tax returns
• 2014 W2 forms
Records of untaxed income for 2014
• Child support received and paid
• Contributions to retirement accounts
WHAT YOU WILL NEED…(CONT.)
Current bank statements
Records of investments
•
•
•
•
•
Stocks
Bonds
Certificates of deposit
Mutual funds
Education savings accounts
INVESTMENTS INCLUDE…
The net value of:
•
•
•
•
•
•
•
•
Real estate (not the home you live in)
Trust funds, UGMA & UTMA accounts (owner)
Money market funds
Mutual funds
Certificates of deposit
Stocks and stock options
Bonds
Other securities, etc.
INVESTMENTS ALSO INCLUDE…
Qualified educational benefits or education
savings accounts
• Coverdell savings accounts
• 529 college savings plans
• Refund value of 529 prepaid tuition plans
Always report as a parent asset, even if in the student’s
name.
INVESTMENTS DO NOT
INCLUDE…
The value of:
• The home you live in
• Life insurance policies
• Retirement plans
• 401(K), non-education IRAs, Keogh, pension plans,
annuities, etc.
• Family farm you live on and operate
• Small business you and your family own and control more
than 50 percent with 100 or fewer full-time or full-time
equivalent employees
WHO IS CONSIDERED A PARENT?
• Legal Parents – biological and adoptive
• If your legal parents are living together (whether
married, unmarried, divorced, or separated),
answer the questions about them.
• If your parent was never married or is widowed
and does not live with your other legal parent,
answer the questions about that parent.
• If your widowed parent is remarried as of today,
answer the questions about that parent and your
stepparent.
WHO IS CONSIDERED A PARENT?
• If your parents have divorced or separated,
answer questions about the parent you lived
with most in the past 12 months.
• If you didn’t live with one parent more than the
other, answer in terms of the parent who
provided the most financial support during the
last 12 months or during the most recent year
you were actually supported by a parent.
• If this parent is remarried as of today, answer the
questions about that parent and your stepparent.
FAFSA – Login
FAFSA – Start 2015-2016
FAFSA – Create a password
FAFSA – Introduction Page
FAFSA – Student Demographic
Information
• Name, SSN, and
Birthday MUST be
correct
• Highly recommend
providing email
FAFSA – Student Eligibility
• MUST be U.S.
citizen or eligible
non-citizen
• Males MUST
register with
Selective Service
FAFSA – Student Eligibility continued
• High school
information
entered will
be matched
• Select correct
match
FAFSA – School Selection
• Search by school
name or code
• May add up to 10
schools
FAFSA – School Selection Summary
• Can change
the order of
the schools
listed on the
FAFSA
FAFSA – Dependency Determination
• Must answer “yes”
to one of the
questions to be
considered
independent on the
FAFSA
FAFSA – Dependency Status Results
• Will provide
parental
information
FAFSA – Parent Demographics
Information
• Parents’ SSN,
name, birthday
• Household Size
and number in
college.
• Do NOT include
parents as college
students
FAFSA – Parent Tax Information
• Already completed
• Will file
• Not going to file
FAFSA – Parent Tax Information
• Use the IRS Data
Retrieval Tool
whenever possible
• Available
approximately 2-3
weeks after
electronic filing
• All answers must
be “No” to use
retrieval tool
IRS Data Retrieval (IDR) Tool
IRS Data Retrieval (IDR) Tool
• Address must
match tax
return exactly
• Submit
IRS Data Retrieval (IDR) Tool
• Click box to
activate “Transfer
Now” button
• Click “Transfer
Now”
FAFSA – Parent Financial Information
• IRS information will
populate
• Manually enter income
if not eligible for IDR
• “Help and Hints” will tell
you what line to use
• Estimate information if
you have not filed taxes
yet
FAFSA – Parent Financial Information
continued
• Report any
additional financial
information and
untaxed income
• Review W2 box 12
for retirement
contributions
FAFSA – Parent Financial Information
continued
Report assets at the
bottom:
• Cash, savings,
checking
• Investments
• Business and farm
value
Always report net worth
FAFSA – Student Tax Information
• Already
completed
• Will file
• Not going to
file
FAFSA – Student Financial Information
• Already completed
• Will file
• Not going to file
• If not filing, the student still
has to report any wages
FAFSA – Student Financial Information
continued
• Student will
report any
untaxed income
and assets just
like parent
FAFSA – Sign & Submit
• Student signs
first
• PIN is the
fastest and
recommended
method
• Can Apply For
A Pin on this
page if needed
FAFSA – Sign & Submit
• Parent signs
also
• Be sure to
Submit My
FAFSA Now
• May be a
password for
2016-2017
FAFSA – Confirmation
• Don’t forget to click “SUBMIT”
• A “SAVED” application will not be processed
• Print a copy of the confirmation page
• The EFC is calculated immediately and printed
on the confirmation page
ADDITIONAL INFORMATION
Special Circumstances
• If the FAFSA does not reflect your current financial situation,
contact the financial aid office at each school.
Indiana Residents MUST file by March 10
• For consideration of state aid
FAFSA Help
• Federal Student Aid provides free help online at www.fafsa.gov
and 1-800-4-FED-AID
• Contact the financial aid office where you are applying
FINANCIAL AID REFERENCES
College Board - www.collegeboard.org
Financial aid information - www.finaid.org
The internet’s largest free scholarship search www.fastweb.com
FAFSA on the Web - www.fafsa.gov
U.S. Department of Education – studentaid.ed.gov/