J.W. NORTH HIGH SCHOOL
FINANCIAL AID NIGHT
HOSTED BY
NORTH COUNSELORS:
Rolando Flores
Alison Lattimer
Erin Martinez
Keri O’Neill
Community Assistant/translator:
Gaby Cisneros
Agenda
Welcome and Introductions
Financial Aid Basics/FAFSA—
Erin Martinez, North Counselor/FAFSA Coordinator
Scholarships—
Mr. Flores, North Counselor/Scholarship Coordinator
Q&A
Finding Money for College
Basics of Financial Aid and the FAFSA
TOPICS
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What is financial aid?
Who can get it?
How much can I get?
How do I apply?
What happens next?
Where can I get more info?
What is financial aid?
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Money to pay for college or career school
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Grants
Loans
Work-study
Scholarships
Handout: Funding Your Education: The Guide to Federal
Student Aid and Do You Need Money For College? At a
Glance 2015-2016
Who can get federal student aid?
•
U.S. citizen or permanent resident
• High school graduate/GED holder
• Eligible degree/certificate program
• Valid Social Security number
• Males registered for Selective Service
• Satisfactory academic progress in college/career
school
www.studentaid.gov/eligibility
Who can get other kinds of financial aid?
•
California, colleges, and private scholarships
have their own eligibility criteria.
• Be sure you know what you need to do to qualify.
--FAFSA, Dream Act App
--Myth vs. Fact
--AB 540
Handout (online at www.jwnorth.org) Fund Your
Future: How to Pay for College for Cal Grants &
Scholarship information
How much federal student aid can I get?
In general, depends on your financial need.
• Financial need determined by Expected Family
Contribution (EFC) and cost of attendance (COA)
• EFC comes from what you report on FAFSA
• COA is tuition, fees, room and board,
transportation, etc.
COA – EFC = financial need
See www.studentaid.gov for more information
about federal student aid
How much federal student aid can I get?
Maximum amounts for the major programs for a
dependent freshman in 2015-2016:
• Federal Pell Grant: 2015-16 max award TBD
[$5,730 in 2014-15]
• Direct Subsidized and Unsubsidized Loans:
$5,500 total
• Federal Work-Study: depends on funds available
at school
• Direct PLUS Loan (for parents): COA minus other
aid received
Handout: Do You Need Money for College?
How much federal student aid can I get?
For early estimate, use FAFSA4caster:
• Go to www.fafsa4caster.ed.gov
• Enter some financial information
• Get an estimate
How much state, school, and private
scholarship money can I get?
Depends on the program; do your research!
Cal Grants --up to $12,192 for UC, $5,472 CSU,
$8,056 ICC www.csac.ca.gov
• UC Blue and Gold Opportunity Plan (if income
less than $80K) www.universityofcalifornia.edu
• Middle Class Scholarship—CSU/UC (Income
Ceiling $150K)
• Ask college financial aid offices for info about aid
available at their schools (check online)
• Free scholarship search at
www.studentaid.gov/scholarships
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Mr. Flores…SCHOLARSHIPS
• GAP
--Need not fully met with other forms of aid
• SEARCHING
--Caution: Handout: Don’t Get Scammed
--National vs. Local
--North Scholarship Newsletter (www.jwnorth.org, under
‘Quick Links’)
--Career Cruising
• APPLYING
--Apply early
--Follow directions
--Be organized
--Check your work
--Keep copies
How do I apply for aid?
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FAFSA www.fafsa.gov
OR…
• Dream Act Application www.csac.ca.gov
AND MAYBE…
• CSS Profile (for some privates)
https://student.collegeboard.org/css-financial-aid-profile
Note: Check with your school’s financial aid office
FAFSA OR DREAM ACT APPLICATION?
Complete the
FAFSA if…
You are a US citizen or eligible
non-citizen. You must have a
Social Security number or an
Alien registration number.
Complete the
Dream Act
Application if…
You are not a US citizen and do not
have a Social Security Number or an
Alien Registration number. Or you
have a social security card issued
via DACA (it will say “for work only”
across the top.)
You need a PIN! Personal Identification
Number (PIN)
…and at least one parent does too.DREAMERS—no PIN
for student, PIN for
parent.
Access the PIN Website
www.pin.ed.gov
Why use a PIN?
• Sign FAFSA
electronically
• Access your FSA
records online
• Make corrections
Who can apply?
• Students
• Parents with SSN
Remember…KEEP YOUR PIN PRIVATE!!
Completing the FAFSA
Complete your FAFSA or
Dream Act Application
at a Cash for College
Workshop! See flyer for
a workshop near you!
www.fafsa.ed.gov
Be careful of copycat
websites!
Remember…it’s .gov.
And it’s always FREE!
See the ‘Cheat Sheet’ FAQs,
and common errors to avoid.
FAFSA on the Web (FOTW)
Using FOTW
• Ask Questions
• Browse Help
• Deadlines
• Announcements…
…and more
www.fafsa.ed.gov
FAFSA on the Web (FOTW)
Start Here:
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Start New
FAFSA
Corrections
Signatures
Continuing a
saved FAFSA
Renewal FAFSA
FAFSA Overview: 7-Step Process
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Step 1: About the Student
Step 2: School Selection
Step 3: Determines Dependency Status
Step 4: Parent Financial Information
Step 5: Student Financial Information
Step 6: Signatures (PIN, or sig. page)
Step 7: Confirmation
STEP 1: Student Demographics
Check for:
• Name matches
student social
security card
• Transposed numbers
• Incorrect data in
numeric fields
Tip: Use the Help and Hints
section on each page.
Simple mistakes can delay
determining eligibility for
aid!
Student Eligibility
Students with a high
school diploma must:
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Identify their high
school
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Select Confirm to find a
match
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Select the school from
the list or select Next to
continue
Step 2: School Selections
Add a College
• Federal School
Code
• Search by:
o State
o City
o Name
Housing Plans
• On campus
• With parent
• Off campus
Step 3: Dependency Determination
NO to all questions:
makes the student
“dependent”
• Must submit parent
information
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Note: child must be
supported financially—
more than 50%...meaning
if the student has a child
Divorced or Separated Parents
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Provide information for the parent(s) with whom the student lived with
most during the last 12 months
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If the student spent equal time with both parents, use the information
for the parent who provided the greatest amount of financial support
for the student
Remarried Parent
Provide information about the parent and stepparent regardless of:
Agreement of “nonsupport”
• Prenuptial agreement
• Divorce decree designating tax filing exemptions
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Note: A parent claiming the student on their tax return need
not be the parent required to provide data on the FAFSA
© 2013 CASFAA
Step 4: Parent Information
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Demographics
Marital status
will determine
what questions
are asked of
the parent(s)
© 2013 CASFAA
NO Parental Information
Do not provide parent information for
• Foster parent(s)
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Student is automatically considered an independent student
Grandparents, other relatives, or legal guardian(s)
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Colleges may use professional judgment to allow the student to file as an
independent student
Exception: Adoptive parents
© 2013 CASFAA
Parent Income Information
IRS Data Retrieval Tool (DRT)
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Transfers information
directly from the IRS
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Requires PIN
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Available February 2
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After filing tax return
© 2013 CASFAA
Parent Income & Asset Information
• Same questions
asked of students
• Selecting a box
displays additional
fields to complete
Note: Asset filtering
question
© 2013 CASFAA
Income Reporting and Verification
Selected students and parents must submit income
and asset documentation
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Using the IRS Data Retrieval Tool (unchanged)
meets verification requirements for some
income information
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Otherwise, only an IRS Tax Return Transcript
will meet verification requirements
© 2013 CASFAA
Step 5: Student Income and Assets
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Same questions
asked of parents
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If student will not
file a tax return,
they may only be
asked:
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Amount earned from
work
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Asset information
© 2013 CASFAA
Step 6: Student Sign and Submit
Select signature method
• PIN or printed signature
page
Terms of Agreement
• $$$ for education
expenses only
• Not in default on a federal
student loan
• Not owe a federal Title IV
grant
• Receive one Pell Grant
from one college at a time
© 2013 CASFAA
Parent Sign and Submit
Select signature method
• PIN or printed signature
page
Terms of Agreement
• Provide documents to
verify accuracy of
information
• IRS verification
Parents without SSN
must submit signature
page—cannot apply for
PIN.
© 2013 CASFAA
Step 7: Confirmation Page
• Confirmation #
• DRN
• Optional feature:
transfer FAFSA
data
• Eligibility
information
• College
information
© 2013 CASFAA
20142015
Student Aid Report (SAR)
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Sent electronically or by mail
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Summarizes FAFSA information
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Displays EFC and DRN
(upper right-hand area on the SAR)
EFC- Expected Family Contribution;
used to determine eligibility for federal aid
DRN- Data Release Number; used to send SAR to
additional schools
What happens next?
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Each school will tell you how much aid you can
get at that school.
• Once you decide which school to attend, keep in
touch with the financial aid office to find out when
and how you will get your aid.
Where can I get more info?
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StudentAid.gov
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Info about aid programs
Links to free scholarship and college searches
1-800-4-FED-AID
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Info about aid programs
Help with FAFSA
Compare Your Financial Aid Awards
• Wait until you have all award offers before deciding.
• Ask questions! Your counselor can help—it can be
confusing.
• Compare apples to apples…
--What’s the bottom line net- cost to you?
--Grants/Scholarships?
--Loans (they’re optional!):
subsidized vs. unsubsidized?
federal vs. private?
Online comparison tool @ www.collegeboard.org
Questions?