Applying for
Financial Aid
2009-2010
1
Sponsors/Partners:
Presenter:
2
What Will You Learn Today?
•
•
•
Types and sources of financial aid
•
Answers to your individual question
Required financial aid application forms
How to complete the Free Application for
Federal Student Aid (FAFSA)
3
Types of Financial Aid
• Gift Aid - Grants or
•
•
scholarships that do not
need to be repaid
Work - Money earned by
the student as payment for
a job on or off campus
Loans - Borrowed money
to be paid back, usually
with interest
4
Sources of Financial Aid
•
Federal government
•
State government
•
•
Colleges and universities
Private agencies,
companies, foundations,
and your parents’
employers
5
TOPS
The TOPS program was created by the
Louisiana legislature in 1997 under the
administration of Governor Mike Foster
 1998 was the first award year for both 1997
and 1998 graduates
TOPS is funded through the State General Fund
and the Millennium Trust Fund
 TOPS funds must be appropriated each year
by the Legislature
6
TOPS: Academic Requirements
• All TOPS core curriculum
courses must be completed by
the date of high school
graduation
7
TOPS: Core Curriculum GPA
The grade point average (GPA) used to determine
eligibility for the TOPS program will be calculated
using only those grades achieved in the TOPS core
curriculum courses
 Uses
the highest grade in each core category
 Courses not graded on a 4.00 scale must be
converted to a 4.00 scale
 Letter grades of “P” are not included
 TOPS Core GPA cannot be rounded up
8
TOPS: ACT
ACT Registration
 TOPS Code 1595
 Social Security Number
ACT Deadlines for 2009 Graduates
 Without penalty: April 4, 2009
 Loss of one semester eligibility: June 13, 2009
Highest composite score will be considered
 TOPS does not consider the Essay portion of
the ACT
9
TOPS: SAT
SAT Registration
 Scholarship Code 9019
 Social Security Number
SAT Test Deadlines
 Without Penalty: March 14, 2009
 Loss of 1 semester eligibility: May 2, 2009 and
June 6, 2009
An equivalent SAT score may be substituted for the
ACT score
 TOPS does not consider the Essay portion of
the SAT
10
TOPS: Application
Two methods for applying for TOPS:
 FAFSA (Free Application for Federal Student Aid) –
www.fafsa.ed.gov
• Preferred application
• Must be completed if the student is eligible for federal
grant aid (Pell Grant)
• Must be completed if the student is seeking any other
form of financial aid
• The only application needed for TOPS

TOPS Online Application – www.osfa.la.gov
• May only be completed by students who can certify
that they do not qualify for federal grant aid
• In the event of a budget shortfall, students completing
the TOPS Online Application will be the first to lose
their TOPS award
• Do not complete if you have completed the FAFSA
11
TOPS: Application Deadlines
2009 Graduates
Initial Application Receipt
Date
Receives TOPS funding for:
Jan. 1 – July 1, 2009
8 semesters (12 quarters)
Beginning 2009-2010
July 2, 2009 – July 1, 2010
8 semesters (12 quarters)
Beginning Fall 2010
July 2, 2010 – Aug. 29, 2010
7 semesters (10 quarters)
Beginning Fall 2010
Aug. 30, 2010 – Oct. 29,
2010
6 semesters (9 quarters)
Beginning Fall 2010
Initial Applications Received
After October 29, 2010
Ineligible for TOPS
12
TOPS: Processing Cycle
Student applies by completing the
FAFSA or TOPS Online Application
LOSFA receives ACT or SAT scores
electronically based on the inclusion of
the TOPS code on the test registration
LOSFA receives transcript data from
the La. Department of Education after
high school graduation
13
TOPS: Processing Cycle
Once all required data is received, TOPS eligibility
is determined each Thursday night
TOPS eligibility letters are mailed each Friday.
Students can also check their award status on the
TOPS Portal located on www.osfa.la.gov
 Most students will be notified of their TOPS
eligibility by early July
A Master Roster of TOPS eligible students is
available for colleges and universities to download
each Monday
14
TOPS: Processing Cycle
Most colleges and universities will include an
anticipated TOPS credit on the student’s fee bill
after receiving the TOPS Master Roster
Colleges and universities may begin billing LOSFA
for TOPS eligible students who are full-time
students after the 14th class day of the term
LOSFA will send all TOPS funds to the institution to
be applied to the student’s account
15
TOPS: Award Acceptance
Must enter an eligible institution as a
full-time student by the fall semester
following the first anniversary of high
school graduation
 Exceptions:
• Returning Out-of-State Students
• Military Service
16
TOPS: Retention Requirements
Should apply annually by July 1st by completing the
Renewal FAFSA
Must be continuously enrolled on a full-time basis
during the academic year
Must earn 24 credit hours each academic year

Failure to earn 24 hours will result in permanent
award cancellation

Exceptions to the continuous enrollment or 24 hour
requirement may be granted for reasons beyond the
student’s control
17
TOPS: Retention Requirements
GPA
 At the end of each Spring term, the following
cumulative college GPA must be achieved:
• Opportunity Award:
 2.30 first academic year
 2.50 all subsequent academic years
 Opportunity Award recipients who fail to maintain
the retention GPA will be suspended
• Performance and Honors Awards: 3.00
 Performance or Honors award recipients who fail
to maintain a 3.00 cumulative GPA will revert to
the Opportunity Award (see above requirements)
• Tech Award: 2.50
18
TOPS: Retention Requirements
At the end of any other term,
Steady Academic Progress of a
2.00 cumulative college GPA
must be maintained or the
award will be suspended
19
Other State Aid Programs
•
•
•
•
•
Go Grant
LA LEAP Grant
Rockefeller State Wildlife Scholarship
Louisiana Guaranteed Loans
Healthcare Educator Loan Forgiveness
Program
www.osfa.la.gov
20
Need-Based Grants
•
Federal Grants
• Pell Grants
• $4,731 maximum per year
• Academic Competitiveness Grants
• $750 for the first year
• $1,300 for the second year
• Supplemental Educational
Opportunity Grants (SEOG)
• $4,000 maximum per year
21
Need-Based Grants
College Grants
•
(List various community college
grants here)
•
(List various state college and
university grants here)
•
Independent College Grants amounts vary
22
Types of Applications
•
FAFSA
Other applications or forms
as required by the college
such as:
•
CSS Financial Aid PROFILE
•
Institutional scholarship
and/or financial aid applications
•
2008 federal tax returns (along
with schedules and W-2s) or other
income documentation
23
FAFSA Information & Tips
•
File as soon as possible
•
Use estimated 2008
income information if
taxes are not complete at
time of FAFSA submission
•
Student and at least one
parent whose information
is required must complete
and sign the FAFSA
24
Federal PIN
• PIN (Personal Identification
Number) serves as the electronic
signature on ED documents
• Both student and at least one
parent need PIN to sign the
FAFSA electronically
• May be used to:
• Check on FAFSA status
• Verify and correct FAFSA data
• Add additional schools to receive
FAFSA data
• Change home and e-mail
addresses
• If an e-mail address is provided,
PIN will be e-mailed to the PIN
applicant within hours
Apply for student
and parent PINs
TODAY at:
www.pin.ed.gov
25
Getting Ready
•
Before starting the FAFSA, gather:
• Student driver’s license
• Student Alien Registration Card
• Student and Parent
Social Security cards
2008 W-2 Forms and other records of money earned
2008 federal income tax form (even if not completed)
Records of untaxed income
Current bank statements
Business, farm, and other real estate records
Records of stocks, bonds, and other investments
Create a file for copies of all financial aid documents submitted
26
Getting Started
•
•
Read all application instructions
If planning to submit the paper
FAFSA:
• Use pen with black ink
• Print clearly in CAPITAL letters
• Fill in ovals completely
• Do not leave blanks (unless
directed by instructions)
• Do not write comments or notes
anywhere on form
• Do not use correction fluid
27
FAFSA on the Web
The 2009-2010 FAFSA
on the Web Worksheet
may be used for the
January 1, 2009
through June 30th,
2010 federal aid
application cycle
28
The FOTW Worksheet
A Five Section Form
Section 1 – is about the student
Section 2 – determines student
dependency status
Section 3 – collects parental information
for dependent students
Section 4 – collects student finances and
information about the
independent student
Section 5 – allows students to list up to
ten schools to receive
information from the FAFSA
29
Section 1
(page 2)
STUDENT INFORMATION
30
Section 1
Your Last Name
Jones
•
•
The FOTW will ask for the student’s first
and last name as well as a middle initial
Make sure to report the student’s name
exactly as it appears on the student’s
Social Security card
31
Section 1
Your Social Security Number
1 2 3 4 5
6 7 8 9
Double check your Social Security Number
when entering it on the FOTW. Both your
name and Social Security Number will be
compared through a database match
32
Section 1
Citizenship Status
•
•
If U.S. citizen, status will be confirmed by Social Security match
If eligible noncitizen, status will be confirmed by Department of
Homeland Security (DHS) match. This includes:
• U.S. permanent residents with I-551
• Conditional permanent residents with I-551C
• Eligible noncitizens with I-94
•
If neither a citizen or eligible noncitizen, you are ineligible for
federal/state aid, but might still be eligible for institutional funds
33
Section 1
Alien Registration Number
0 1 2 3 4 5 6 7 8
If eligible noncitizen, write in your eight- or
nine-digit Alien Registration Number (ARN)
• Precede an eight digit ARN with a zero
• Copy of Permanent Registration Card
might be requested by the financial aid
office
34
Section 1
Citizenship Status
NOTE: if you are undocumented or under-documented
• if you are applying to any public college or university,
check to see if you might be eligible for in-state tuition
costs
• check with colleges and universities to see if
institutional financial aid is available
• apply for all private scholarships for which you may be
eligible
• watch for changes in federal and state laws regarding
the eligibility of undocumented or under-documented
students
• start inquiring in elementary, middle or high school to
see if it is possible for younger students to become
permanent residents
For more information and a list of scholarships, go to
www.maldef.org/pdf/scholarships.pdf or
www.latinocollegedollars.org
35
Section 1
Your State of Legal Residence
GA
• Residency relates to your permanent home
state
• if you are dependent, the state of legal residence is usually
the state in which your custodial parents live
• State of legal residence is also used
• to determine eligibility for state grants
• in the need calculation to determine the appropriate
allowance for state and other taxes paid
by that state’s residents
36
Section 1
Selective Service Registration
•
Male students who are 18 years of age or older
must be registered with Selective Service to
receive federal and state aid
•
Answer “Register me” only if you are male, aged
18-25, and have not yet registered.
You may also register by going to:
www.sss.gov
37
Section 1
Federal Student Aid Question
•
Answer “No” if you have never received
federal student grants, federal student loans
or federal work-study
•
You should also answer “No” if you have
never attended college. If you answer “No” to
this question, skip question 23
38
Section 1
Drug Conviction Question
•
•
Answer “YES” if you have been convicted of
possessing or selling illegal drugs while you
were receiving federal student financial aid
Answer “NO” if:
•
•
•
You have no drug-related convictions of any kind
but simply received student financial aid while
a college student
Conviction was for alcohol or tobacco
Conviction was removed from your record or occurred
before age 18 (unless tried as an adult)
39
Section 1
Parents’ Educational Level
Indicate highest level of schooling
completed by your biological or adoptive
parents (for state award purposes only)
• Use birth parents or adoptive parents - not
stepparents or foster parents
• This definition of parents is unique to these
two questions
40
Section 1
Degree Objective
Indicate your most
immediate degree or
certificate objective
for 2009-2010
41
Section 1
Your Expected Enrollment Status at the
Start of the 2009-2010 Academic Year
•
Report your enrollment plans for
the college you are most likely to
attend
•
If unsure, report “Full-time”
42
Section 1
Work-Study and Student Loans
If you are interested in either work-study
(student employment) or student
loans, or both, mark the appropriate box
•
Indicating interest does not obligate you
to either work or borrow, nor will it
cause you to lose grants and scholarships
•
Answering “neither” may restrict some options
for limited work-study or loan funds
43
Section 2
(page 3)
STUDENT DEPENDENCY
STATUS
44
Section 2
Determination of Student Dependency Status
45
Section 2
Determination of Student Dependency Status
46
Section 2
Determination of Student Dependency Status
•
•
If you answer “no” to all questions in this
section, go to Section 3. For FAFSA filing
purposes, you are considered a dependent
student and are required to provide parental
information
If you answer “yes” to any question in this
section, skip Section 3 and go to Section 4.
You are considered an independent student for
FAFSA filing purposes and are NOT required to
provide parental information
47
Section 3
(page 4)
PARENTAL
INFORMATION
48
Section 3
Parental Information
See Page 4 of FAFSA on
the Web Worksheet about
who is considered a parent
• Biological or adoptive
parent(s)
• Stepparent (regardless
of any prenuptial
agreements)
49
Section 3
Parental Information
• Do not provide information on:
• Foster parents or legal guardians
• If the student is in foster care or has a legal
guardian, he/she is automatically
considered an independent student
•
Grandparents or other relatives
• The student must attempt to get
biological parental information
• Colleges may use Professional Judgment to
allow the student to file as independent
50
Section 3
Parental Information
•
If the answer to any question is zero or
the question does not apply, enter 0: $
,
•
Report whole dollar figures: $
•
Recommendation: If your parents have not filed
their 2008 federal tax return, use W-2 forms
and/or other employment records to estimate
total income
12 ,356
0
(no cents)
51
Section 3
Parents’ Marital Status as of Today
Month and Year Your Parents were
Married, Separated, Divorced, or Widowed
M M Y Y Y Y
52
Section 3
Parent E-Mail Address
PJONES@YAHOO.COM
Fill in your parents’ e-mail address that will be
valid at least until you start college
• If you provide your parents’ email address, the
FAFSA processor will let them know your
FAFSA has been processed
•
53
Section 3
Father’s and Mother’s SSN,
Last Name, and Dates of Birth
2 3 4
5 6
7 8 9 0
JONES
0 5
0 0 0
0 3
0 0
1 9 5 9
0 0 0 0
PARKER
0 7
NOTE:
1 9
1 9 6 0
Provide this information for your
parent(s) who complete Section 3 of
the worksheet
54
Section 3
Parents’ State of Legal Residence
GA
M M Y Y Y Y
•
Indicate the two-digit state code for your
parents’ permanent address
•
Leave question 74 blank if at least one of
your parents whose information is used on
this form began living in the state before
January 1, 2004
55
Section 3
Parents’ Tax Return Filing Status
for 2008
• Indicate your parents’ current tax filing status for
2008
• Which tax return did or will your parents file for
2008?
• Even if your parent(s) did not file a 1040A or
1040EZ, read the instructions to see if they would
have been eligible to do so
• The FOTW Web site will ask if your parents have
completed their 2008 tax return
56
Section 3
Parents’ Household 2008
Federal Benefits
Indicate if you, your parents, or anyone in
your parents’ household received benefits
in 2007 or 2008 from any of the federal
programs listed
57
Section 3
Parent Dislocated Worker
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
• is a displaced homemaker
58
Section 3
Parent 2008 Adjusted Gross Income
45,250
•
If your parents have not yet filed their 2008
federal tax return information, it is fine to
estimate information for these questions
• If your parents have completed their 2008
federal tax return, use 2008 tax return
information to complete this item. Pay attention
to specific line-items on 2008 federal tax return,
if completed
Reminder: If the answer is zero or the question
does not apply, enter 0
59
Section 3
Money Earned from Work by
Parent(s) in 2008
45,250
40,500
Use W-2 forms and other records to list all income
in 2008 earned from work (including income
earned from self-employment)
60
Section 3
Parents’ Income Tax Paid in 2008
2,130
•
What was the amount your parents paid in
income tax for 2008?
– Use U.S. Income tax paid (or to be paid)
• not the amount withheld from your parents’
paychecks
61
Section 3
Parents’ 2008 Tax Exemptions
05
• Enter your parents’ exemptions for 2008
Exemptions can be found on their IRS tax
return
• Be sure to include all persons being claimed
on your parents’ 2008 federal tax return,
regardless of whether they are included
in your parents’ household size question
62
Section 3
Parents’ Household Information
for 2009-10
05
•
Include in your parents’ household:
• yourself
• your parent(s)
• your parents’ other dependent children, if
your parents provide more than half their
support or the children could answer “no” to every
question in Section 2, regardless of where they live
• other people, if they now live with your parents and
will continue to do so from 7/1/09 through 6/30/10,
and if your parents provide more than half their
support now, and will continue to provide support
from 7/1/09 through 6/30/10
63
Section 3
Family Members Attending College
in 2009-10
2
•
•
•
Always include yourself even if you will attend college
less than half-time in 2009-2010
Include other household members only if they will
attend at least half time in 2009-2010 in a program
that leads to a college degree or certificate
Never include your parents
NOTE: Some financial aid offices will require proof
that other family members are attending college
64
Section 3
2008 Additional Financial Information
2,500
12,200
Enter the total from this Additional Financial Information
sheet to Question 94 on page 5, Section 3
65
Section 3
2008 Untaxed Income
1,700
6,200
500
Enter the total from this 2008 Untaxed Income sheet
to Question 95 on page 5, Section 3
66
Section 3
Parent Asset Information
•
List the net value of your
parents’ assets as of the day
you complete the FAFSA
•
If net worth is one million
dollars or more, enter $ 9 9 9 , 9 9 9
•
If net worth is zero, enter 0 $
,
0
NOTE: Some financial aid offices may request
supporting documentation for the answers to these
questions
67
Section 3
Parent Cash, Savings, and Checking
2,155
Report the current balance of your parents’
cash, savings, and checking accounts as of the
day you complete the FAFSA
68
Section 3
Parent Investments
7,900
•
•
Net Worth means current value minus debt
Investments include:
• real estate (other than parents’
home)
• trust funds
• UGMA and UTMA accounts
• money market and mutual funds
• certificates of deposit
• stocks and stock options
• bonds and other securities
• Coverdell IRAs
• 529 plans owned by
•
•
parents
installment and land sale
contracts
commodities, etc.
69
Section 3
Parent Business and
Investment Farms
23,600
• Business/Investment Farm includes:
– market value of land, buildings, machinery,
equipment, and inventory. Debt means only
those debts for which the business was used
as collateral
NOTE: DO NOT include the home you live in, the value of
life insurance and parent retirement plans (pension funds,
annuities, non-education IRAs, Keogh plans, etc), or the
value of a family owned and controlled small business with
100 or fewer full-time or full-time equivalent employees
70
Section 4
(page 6)
STUDENT FINANCES
71
Section 4
Student Finances
•
Questions (34 – 40) are identical to
the parent financial questions we
covered in Section 3
•
In these questions in Section 4:
•
•
Report your 2008 income
•
If you are married, report spouse’s
income and assets
If you are single, ignore references
to “spouse”
72
Section 4
Student Veterans’ Education Benefits
For more information on Veterans’ Education
Benefits, contact the VA at:
(800) 827-1000
or
www.va.gov
73
Section 4
Student Finances (Independent Students)
Answer questions (96 – 103)
in Section 4 only if you
answered “yes” to at least
one question in
Section 2 – Student
Dependency Status
74
Section 4
Student Finances (Independent Students)
Include in your household:
•
•
•
you (and your spouse if married)
your children, if you will provide more than half their
support
other people, if they now live with
you and you provide more than
half their support, and will
continue to provide that level
of support from 7/1/09 through 6/30/10
75
Section 4
Student Finances (Independent Students)
•
Count yourself even if you will attend
college less that half-time in 20092010
•
Include others only if they will attend
at least half-time in 2009-2010 in a
program that leads to a college
degree or certificate
76
76
Section 4
Household Federal Benefits
(Independent Students)
Indicate if you, your spouse, or
anyone in your household received
benefits in 2007 or 2008 from any of
the federal programs listed
77
Section 4
Dislocated Worker (Independent Students)
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
• is a displaced homemaker
78
Section 5
(middle of page 7)
COLLEGES TO RECEIVE
INFORMATION
79
Section 5
School Information
001170
001328
023456
034567
List the schools you are most likely to attend,
and then list others to which you are applying
for admission
80
Section 5
School Information
•
•
•
List up to ten schools to which you are applying
For faster and more accurate processing, write in
both the Title IV school code and the school name
• Check with each college’s financial aid office,
your high school counselor, or the U.S. Department
of Education’s website (www.fafsa.ed.gov) for a
listing of federal school codes of the colleges
to which you are applying
Select the housing plan that best describes the
type of housing you expect to have while
attending each listed school
81
Section 5
School Information
Strategies for Listing Colleges
•
•
List those schools with the
earliest financial aid deadlines,
regardless of whether they are
in-state or out-of-state
If the student is applying to more
than ten schools, wait for the
processed Student Aid Report
(SAR) and add additional
schools via the Web
or by phone
82
83
TYPES OF FAFSAs
•
•
FAFSA on the Web
Paper FAFSA
84
FAFSA ON THE WEB
•
Internet application used by
students and parents to complete
electronic FAFSA at
www.fafsa.ed.gov
•
Processed more quickly than
paper version
•
Sophisticated on-line edits so that
errors are less likely to be made
•
Student and at least one custodial
parent should get a federal PIN at
www.pin.ed.gov
85
Application Filing Tips
FAFSA on The Web
•
•
Gather necessary documents ahead of time
•
Allow ample time to complete form for
submission by deadline
•
Check the FAFSA for accuracy prior to
submission
•
•
Save all work periodically
•
Print out a copy of the FAFSA before
submitting data
•
Keep a copy of the Submission Confirmation
Page
Complete a FAFSA on the Web Worksheet
available at www.fafsa.ed.gov
Sign the application using student and at
least one parent’s PIN
86
Application Filing Tips
Paper FAFSA
•
File early and meet all deadlines
•
Check the FAFSA for completeness and
accuracy
•
•
Sign and date FAFSA
Make a copy of the FAFSA before mailing
•
Mail the FAFSA
• Do not write any comments on the
FAFSA
• Do not include letters, tax forms, or
worksheets
• Use regular mail (not Registered or
Certified)
•
Obtain a U.S. Postal Service Certificate of
Mailing (cost is only $1.10)
87
Student Aid Report (SAR)
•
•
•
Regardless of whether the student
uses FAFSA on the Web or submits
a paper FAFSA, a SAR will be sent
to the student
• An electronic SAR will be sent if
student provides an email address
• A paper SAR will be mailed if no
student e-mail address is provided
An electronic copy of the data will
be sent to each college or university
listed by the student in Section 5
Keep a copy of the SAR with other
financial aid documents
88
What Happens Next?
Students and the colleges the student listed receive
Student Aid Report (SAR) from federal processor
(CAR)

Students and families review SAR and CAR for
important information and accuracy of data

Colleges match admission records with financial aid
applications and determine aid eligibility

Colleges mail notices of financial aid eligibility to
admitted students who have completed all required
financial aid forms
89
Special Circumstances
Contact the Financial Aid Office if
there is:







Loss or reduction in parent or student income or
assets
Death or serious illness
Natural disasters affecting parent income or
assets
Unusual medical or dental expenses not covered
by insurance
Reduction in child support or other untaxed
benefits
Financial responsibility for elderly
grandparents
Any other unusual circumstances that
affect a family’s ability to contribute to
higher education
90
Summary of the
Financial Aid Process
•
•
•
•
•
•
•
Submit all required forms, including the
FAFSA, by each college’s published
deadlines
(insert any special state deadlines)
Keep a copy of all forms submitted
Review the electronic Student Aid Report
(SAR) Acknowledgement or the paper
SAR sent to the student
Watch for financial aid award
notifications from colleges to which the
student has been admitted
Be sure to apply for financial aid this
year and every year as soon as possible
after January 1 to receive the best
financial aid award possible
ASK QUESTIONS!
91
Questions
and Answers
92