Going to College
• No matter who you are, you CAN
go to college
• Types of colleges and their costs
vary greatly
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Paying for College
• College is an investment in your
future
• Many forms of financial aid are
available to help you pay for
your education
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What’s Financial Aid?
Financial aid is money to help you
pay educational costs, such as:
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Tuition
Fees
Books
Room and board
Transportation
Personal expenses
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How Do I Apply?
FAFSA
Free Application for Federal Student Aid
• The FAFSA is your first step
• Used to apply for most types of
federal and state aid
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Find the FAFSA
• Online – Visit FAFSA.gov
• Print a copy – Go to FAFSA.gov;
click FAFSA Filing Options to print
a paper FAFSA
• Request a paper copy – Call
800.4.FED.AID or 800.730.8913
(TTY) to request copies in English
or Spanish
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FAFSA.gov
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Why Online?
• Quicker processing time
3-5 days vs. 4-6 weeks for paper FAFSA
• Help and Hints boxes provided with
every question
• Built-in error catcher means fewer
delays
• Save your application and return to it
later
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Why Online?
• Yearly online renewal
• Some fields can be pre-populated
with previous FAFSA information
• Saves time and helps you meet
deadlines
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Why Online?
• Skip logic bypasses unnecessary
questions based on answers
you’ve already provided
• Electronically sign the FAFSA
using your Personal Identification
Number (PIN)
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What’s a PIN?
• Request a Personal Identification
Number (PIN) at PIN.ed.gov
• Student and one parent must each
have a PIN
• Use the same PIN when you:
Renew your FAFSA
Sign an online loan application
Check your loan status on the National
Student Loan Data System (NSLDS.ed.gov)
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FAFSA on the Web
Worksheet
• Go to FAFSA.gov to print a
FAFSA on the Web (FOTW)
Worksheet
• Helps you gather information
before completing the FAFSA
• The worksheet is optional
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FAFSA on the Web
Worksheet
Type in FAFSA on
the Web Worksheet
and Search
Click here for
FAFSA4caster
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FAFSA on the Web
Worksheet
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Requested Information
• Social Security Number
Student and spouse or parent
• Student’s driver’s license
information
• Income and W-2 figures
• Household size
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Requested Information
• Student and parents’ email
addresses
• Alien registration or permanent
resident card number, if you’re not
a citizen
• Up to 10 college names and/or
school codes of your choice
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Don’t Miss Deadlines
• FAFSA – Check with your school’s
Financial Aid office for priority deadlines
• State Aid – State deadlines can be
found at FAFSA.gov, or ask your
school’s Financial Aid office
• Scholarships – Review scholarship
applications for important deadlines; keep
copies of everything
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State Deadlines
Search by
state name
Oklahoma
Tuition Aid
Grant (OTAG)
deadline
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FAFSA Sections
The FAFSA is divided into these
sections:
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Student Demographics
School Selection
Dependency Status
Parent Demographics
Financial Information
Sign and Submit
Confirmation
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Student Demographics
Use your
full name
as shown
on your
Social
Security
card
Help and
Hints
boxes are
located
on each
screen to
assist you
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Student Demographics
Enter your birth
year, not the
current year
Enter your marital
status as of the
day you submit
your FAFSA
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Student Demographics
Eighteen yearold males who
haven’t
registered with
Selective Service
can’t receive
financial aid.
You can elect to
register here on
your FAFSA.
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Student Demographics
Students are
required to
indicate the high
school from
which they
graduated
High school
names will be
shown for you to
select and
confirm. If your
school isn’t
currently in the
database, simply
type in the name,
city and state.
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School Selection
You can send
your FAFSA to 10
different schools.
If you don’t know
the school’s 6digit code, you
can search by
School Name,
City or State.
When sorting on
Enid, Oklahoma,
it listed these 2
schools. Click the
school(s) you
may attend.
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School Selection
When you click
‘View Selected
School Information’,
you’ll see a
comparison like
this.
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School Selection
You must provide
Housing Plans for
each school you’ve
chosen. Your
options:
• On campus
• Off campus
• With Parents
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Dependent or
Independent?
Your answers to
these questions will
determine your
dependency status.
If you’re unable to
answer YES to one
question, you’ll be
considered a
dependent student.
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Dependency Status
• Dependent students must
provide parental information
• Independent students aren’t
required to show parental
information unless requested by
their school
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Dependency Status
To view the Dependency Status Questionnaire, check out
the Resources tab at UCanGo2.org.
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Special Circumstances
If a dependent student is unable to provide parental information, he/she
may indicate that here. It’s highly recommended the student speak to
the financial aid office at the college they’ll attend however. Many
schools have specific procedures they follow to handle this question.
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Special Circumstances
This page
explains some
exceptions to
the rule for
providing
parental
information.
Contact your
financial aid
office for more
details.
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Parent Information
• If your biological parents are
separated or divorced – Use
information about the parent you lived with
most during the last 12 months
• If you lived with both parents
equally – Use information for the parent
who provided you the most support in the
last 12 months
• If your divorced parent is remarried
– Use information for your parent and stepparent
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Parent Demographics
Enter your parent’s
demographic
information.
Remember, your
parent’s name must
be entered just like
it’s shown on the
Social Security card.
If you’re unsure
who should be
counted in your
family’s household
size, click here to
get a full definition.
You can only
enter family
members in
college who
are pursuing a
degree or
certification.
Parents cannot
be included.
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Financial Info - Parent
In this section
parents will enter
the type of tax
return they filed,
as well as their
requested 2011
income figures.
The Help and Hints
box will provide
corresponding line
numbers on your
tax return to assist
you in locating
answers.
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Financial Info - Parent
This page requests
additional income
and asset
information for the
parents.
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Financial Info - Student
The Student Financial Information section requests the type of tax form
the student filed, as well as the student’s income and asset figures.
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IRS Data Retrieval
• While completing the FAFSA online,
applicants may submit a real-time request
to IRS for tax data
• IRS will authenticate taxpayer’s identity
• If match found, IRS sends real-time
results to applicant in a new window
• Applicants choose whether or not to
transfer tax data to FAFSA
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IRS Data Retrieval
• Available February 1, 2012 for the
2012-13 FAFSA processing cycle
• Participation is voluntary
• Reduces documents requested
by financial aid office
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IRS Data Retrieval
• Electronically filed tax return
information will be available from
the IRS 1-2 weeks after you file
• Data from paper tax returns will
be available on the IRS site in
approximately 6-8 weeks
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Sign and Submit
You can review and
print all the
information you’ve
submitted on your
FAFSA to keep for
your records.
To sign your FAFSA,
you and one parent
(or your spouse) can
enter a PIN here.
You may also print
and mail a signature
page to complete
the FAFSA process.
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Sign and Submit
If you wish to sign
electronically, but
haven’t requested
a PIN, you may do
so from this page.
Click ‘Submit’ to
send your
completed FAFSA
off to the
processing center.
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Confirmation
Your Confirmation page
will indicate your
Expected Family
Contribution (EFC) as
well as an estimated
amount for the Pell
Grant and/or student
loans.
For assistance with
your FAFSA, you may
contact the Federal
Student Aid
Information Center at
the numbers shown
here.
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Contact Us
Each page of your online
FAFSA houses a ‘Contact
Us’ button at the top of
the screen. Click it to find
a variety of ways to obtain
assistance with your
FAFSA application.
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Student Aid Report (SAR)
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Summarizes the information on your FAFSA
•
Sent electronically or in paper form after
your FAFSA is received
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Review for accuracy and correct any errors
as soon as possible
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Will not list the amount of financial aid you’re
eligible to receive
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The schools listed on your FAFSA will also
receive a summary
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Verification
• Your financial aid office will request
further documentation if you’re
selected
• Financial aid can’t be provided until
the verification process is complete
• Tax returns are no longer accepted
to confirm income information
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Verification
• Students will be asked to provide an
IRS Transcript to verify their income
tax information
• Visit IRS.gov and Search on tax
transcript or call 800.908.9946 to
request an IRS transcript
• Complete Form 4506-T to have a tax
transcript sent to a school or a
different address
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Expected Family
Contribution (EFC)
• Important number appearing on
your SAR; also shown on the
Confirmation page of your online
FAFSA
• Based on the information provided
on your FAFSA, such as income,
assets and family size
• Same amount at every college
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Cost of Attendance (COA)
• An estimate of the total educational
expenses for a specific enrollment
period
• Includes average tuition, fees, books
and supplies, room and board,
transportation and miscellaneous
expenses
• COA may be different at each school
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Financial Need
• The difference between the Cost
of Attendance (COA) and the
Expected Family Contribution
(EFC)
• School determines financial need
based on data from your SAR
• Financial aid awards are based
on your financial need
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Financial Need
Cost of Attendance
-Expected Family Contribution
Other Aid
Financial Need
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Award Letter
• Sent out by schools that have
accepted you and received your
financial aid paperwork
• Lists types and amounts of aid
you’re eligible for; you don’t have to
accept everything offered
• Submit any requested information to
your school by the required deadline
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Aid Types
• Need-based aid – Based on your
financial situation
• Merit-based aid – Based on
special abilities, accomplishments,
career paths, grades, hobbies,
etc. (not based on financial need)
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Federal Financial Aid
Federal Pell Grant
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$5,550 annual maximum
Undergraduates without a bachelor’s degree
Need-based
Federal Supplemental Educational
Opportunity Grant (FSEOG)
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$4,000 annual maximum
Undergraduates without a bachelor’s degree
Priority given to Pell Grant recipients with high
financial need
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Federal Financial Aid
Federal Work-Study (FWS)
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Awarded by the institution
Offers campus-based or community
employment for students
Need-based
Federal Perkins Loan
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$5,500 annual maximum
5% loans with a 9 month grace period
Need-based
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Federal Financial Aid
Federal Subsidized Student Loan
• $3,500/year maximum for Freshmen
• Government pays interest while student is
enrolled at least half-time
• 6.8% interest rate beginning July 1, 2012
• Need-based
Federal Unsubsidized Student Loan
• Additional loans available to students who
qualify
• Interest starts to accrue after first disbursement
• 6.8% interest rate
• Non-need based
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Federal Financial Aid
Parent Loan for Undergraduate
Students (PLUS)
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For parents of dependent students
Parent borrower must be credit-worthy
Interest starts to accrue after first disbursement
7.9% interest rate
Non-need based
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State Financial Aid
Oklahoma Tuition Aid Grant (OTAG)
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Apply through the FAFSA
Application deadline March 1, 2012
$1,000 annual maximum for public schools;
$1,300 annual maximum for private schools
Need-based
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State Financial Aid
Oklahoma’s Promise (OHLAP)
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Students must graduate from high school
(2012 public school seniors must meet End
of Instruction (EOI) requirements to graduate)
Students must complete the FAFSA
Second income check will begin Fall 2012
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Things to Remember
• You must complete the FAFSA every
year financial aid is needed.
• Never pay to complete the FAFSA. The
first letter in FAFSA stands for free!
• FAFSA.gov is the only website you
need. It never charges you a fee to
complete your application.
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UCanGo2.org
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UCanGo2 Student
Workbooks
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UCanGo2.org/FAFSA
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FAFSA Facts
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Scholarships
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Facebook.com/UCanGo2
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Additional Resources
studentaid.ed.gov
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studentaid.ed.gov/collprep
studentaid.ed.gov/needmoney
studentaid.ed.gov/guide
studentaid.ed.gov/pubs
studentaid.ed.gov/scholarship
800.4.FED.AID (800.433.3243)
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Questions
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