OACAC Articulation
Workshop 2008
Financial Aid Update
OASFAA Disclaimer
The Ohio Association of Student Financial Aid
Administrators (OASFAA) is a non-profit organization
and provides the following information as a free service
to access staff and high school counselors. High school
counselors and access staff have permission to copy
and distribute these materials to their students and
families. Charges may not be assessed for the material
or for the information presented. Permission must be
granted for other use of this information or these
materials.
Contact the Outreach Chairperson listed on the OASFAA
web site or e-mail: outreach@oasfaa.org
http://www.oasfaa.org/
State Updates
▼ Soon after taking office, Governor Strickland announced that he
wants an additional 230,000 Ohioans enrolled in college within 10
years, and he wants improved graduation rates.
▼ As one of his first steps toward making college more accessible and
affordable, state supported schools of higher education agreed to
freeze tuition with a $1 billion incentive from the state. The tuition
freeze continues for the 2008-09 academic year.
▼ Chancellor Fingerhut has introduced a 10 year Strategic Plan for
Higher Education. The plan promises to raise the overall educational
attainment of the state of Ohio and builds upon the principles put
forth last year in creating the University System of Ohio.
– The Strategic Plan is available online at:
http://universitysystem.ohio.gov/
State Updates
Ohio Instructional Grant (OIG)—
▼ The 2008-2009 academic year is the last year
for OIG.
– All students who attended college prior to July
1, 2006 will still be considered for the OIG
when completing the Free Application for
Federal Student Aid (FAFSA).
– The maximum awards are $2190--2 yr & 4 yr
public schools; $5466-4 yr private; $4632proprietary.
▼ Part-time OIG eliminated beginning in 07-08
▼ The deadline to apply is October 1.
State Updates
Ohio College Opportunity Grant (OCOG)—
▼ Began with the 2006-07 academic year for all first time
college students. It is based on the family’s Expected
Family Contribution (EFC) as determined by the FAFSA.
The maximum EFC for OCOG eligibility is 2190 and the
family income limit is $75,000.
– Part-time students are eligible.
▼ The maximum awards are $2496—2 yr & 4 yr public
schools; $4992-4 yr private schools; $3996-proprietary
schools.
▼ The deadline to apply for OCOG is October 1.
State Updates
Ohio Student Choice Grant (OCG or
OSCG)—
▼ The maximum award for 2008-09 is $660.
This grant is for residents who attend an
Ohio private, non-profit college for the first
time after 1984. It is not based on
financial need at this time
State Updates
▼ Ohio’s College Access Information
Hotline:
1-877-428-8246
1-877-I-ATTAIN
▼ www.OhioCAP.org
Ohio College Access Portal
http://www.knowhow2go.org/
State Updates
▼ The Ohio GI Promise
– http://universitysystem.ohio.gov/
– 1-877- VETS-OH-1
▼ Ohio Teachers Corp
▼ A qualifying teacher is:
▼ A first-year teacher defined as first day of teaching falling on or after
July 1, 2008
▼ Appropriately licensed and assigned to teach in the subject area of
foreign language, science or mathematics
▼ Under contract to teach in a hard-to-staff school and commits to
continue to do so for a minimum of five (5) years
– http://regents.ohio.gov/sgs/otc/
Federal Financial Aid
Information and Updates
▼ Pell Grant—this is a federal grant, need
based as determined by the Free
Application for Federal Student Aid
(FAFSA)
▼ Maximum award for 2008-09 is $4731.
Federal Financial Aid
Information and Updates
▼
Academic Competitiveness Grant (ACG)—
• Students must be Pell Grant eligible.
• The maximum award for a first year student
is $750; a second year student (as
determined by the school) is $1300.
• Full time students only and must be U.S.
Citizen.
• Student must have graduated after January
1, 2005 for second year and January 1,
2006 for first year.
Federal Financial Aid
Information and Updates
▼ To qualify for an ACG, any one of the
following scenarios meet the “Rigorous
secondary school program of study”
requirement.
▼ Therefore, the eligibility options for a
student graduating from secondary school
in Ohio during the 2008 calendar year are:
Federal Financial Aid
Information and Updates
1. A set of courses similar to the State
Scholars Initiative
This scenario requires passing grades in all of
the following:
• Four years of English;
• Three years of math (including Algebra I and
a higher level course such as Algebra II,
geometry, or data analysis and statistics);
• Three years of science (including at least two
courses from biology, chemistry or physics);
• Three years of social studies; and
• One year of a foreign language.
Federal Financial Aid
Information and Updates
2. The Ohio Honors Diploma
3. Advanced Placement (AP) or
International Baccalaureate (IB)
courses and test scores
This scenario requires a minimum of two
Advanced Placement (AP) or International
Baccalaureate (IB) courses in high school.
Students must score 3 or higher on AP exams
and 4 or higher on IB exams.
Federal Financial Aid
Information and Updates
How can counselors assist the financial aid office?
▼ Spread the word about the ACG
▼ As counselors, you can encourage students to take the right courses
that meet the definition for a “rigorous program.”
▼ Assist students with submission of an official final high school
transcript. At colleges with open enrollment, the Admissions Office
may not require a final high school transcript. The ACG requires the
financial aid office to certify eligibility.
▼ Stamp “Honors Diploma,” if applicable, on final transcript.
▼ Assist the FAO interpret the required coursework for a rigorous
program of study. Because when classes are called so many
different things it makes satisfying this requirement a challenge.
Federal Financial Aid
Information and Updates
▼
SMART Grant (National Science and Math Access
to Retain Talent Grant)—
• Awarded to students in specific majors in the areas
of Science, Math and Language Studies
• Students must have a college GPA of 3.0
• A federal grant awarded to third and fourth year
college students.
• Must be Pell eligible, full-time, and a US Citizen
• Eligibility is certified by the school.
• The maximum award is $4,000 per year.
Federal Financial Aid
Information and Updates
▼ TEACH Grant
– New for 2008-09
– provides grants of up to $4,000 per year to
students who intend to teach in a public or
private elementary or secondary school that
serves students from low-income families.
– Maximum of $16,000 for undergraduate and
post-baccalaureate students
– $8,000 for graduate students or current or
former teachers or retirees
▼ Must file the FAFSA
– Question #32 on the paper FAFSA asks if the
student plans to become a teacher
– US Citizen or eligible non-citizen
– Pro-rated for less than full-time
– Must have scored above the 75th percentile
on 1 battery of an admissions test –or- have
and maintain a 3.25 GPA
Federal Financial Aid
Information and Updates
▼ Must be repaid as a Direct unsubsidized
Loan if student does not teach –
– For at least four years within eight years
of completing program, as a
• Highly Qualified Teacher
• At a Title I school
• In a specified subject area
Federal Financial Aid
Information and Updates
▼
Federal Stafford/Federal Direct Loan
A federal loan program with two types of awards—
1. Subsidized
• Need based.
• Interest is fixed at 6.0% for all new loans disbursed after
July 1, 2008. Interest is subsidized while the student is in
school during deferment.
2. Unsubsidized
• Not based on financial need.
• Interest is fixed at 6.8% for all new loans disbursed after
July 1, 2006. Interest accrues from time of disbursement
of the funds.
Federal Financial Aid
Information and Updates
▼ NEW: for 2008-09, annual loan limits
increased for all students:
• A first-year student may borrow up to $5,500
per year.
• A Sophomore may borrow up to $6,500 per
year.
• Juniors and seniors may borrow up to $7,500
per year.
Federal Financial Aid
Information and Updates
▼ Federal Stafford/PLUS and William D. Ford Direct Stafford/ PLUS
Loan are basically the same program. With the Direct loan, the
funds are drawn down by the school directly from the federal
government, thus the name. The FFEL Stafford loan, the funds are
secured by a bank or lender through a guarantee agency and sent
to the school for the student.
The school selects the federal program in which they wish to
participate.
▼ Schools in the FFEL Stafford Loan Program and PLUS program
may use a Preferred Lender List
Many schools have a preferred lender list. These lists are
established with the borrower’s best interest in mind. Schools take
time to review borrower benefits for the student and parent. But,
it is import to stress that students have a right to borrow from
any lender they choose.
FAFSA Updates
▼ 2009-10 Free Application for Federal
Student Aid (FAFSA)
▼ Paper Format
– Instructions – 4 pages
– Application – 6 pages
▼ Pantone colors
– Students: Green Pantone 390C - 75%
– Parents: Purple Pantone 263
FAFSA Updates
▼ Worksheets incorporated into the
application
– Worksheet A – deleted
– Worksheet B – becomes question 47
(student) and 95 (parent)
– Worksheet C – becomes question 46
(student) and 94 (parent)
FAFSA Updates
▼ Data Elements Added
– Expansion of Dependency Criteria
•
•
•
•
•
•
Individuals who were in foster care
Emancipated minors
Minors in Legal Guardianship
Unaccompanied Youth
Homeless
At-risk of being homeless
– TEACH Grant question added to paper
FAFSA (question #32)
FAFSA
▼ PIN—Personal Identification Number
The PIN can act as
• an electronic signature for the FAFSA
• an electric signature for other federal documents such as the
Master Promissory Note (MPN) for federal student loans
It also allows the student/parent access to federal information such
as the National Student Loan Database (NSLDS)
www.nslds.ed.gov
▼ A major change for 2008-09
• Real-Time PIN
• Issued upon request (FOTW or PIN Site)
• Valid for FAFSA unless subsequent SSA match fails
For more information or to register:
www.pin.ed.gov
FAFSA
▼ 4Federal Student Aid Information
Center:
1-800-433-3243
1-800-4FEDAID
▼ www.federalstudentaid.ed.gov
▼ www.fsa4counselors.ed.gov
FAFSA
FAFSA4caster
http://www.fafsa4caster.ed.gov/
Developed to:
• Foster early awareness with the financial aid
application process and form
• Serve as an early analysis tool informing
college affordability
• Reduce the time required to submit the
"official" financial aid application in the
student's senior year of high school
FAFSA
FAFSA4caster will:
• Automatically generate a Federal Student Aid
PIN for use when signing the FAFSA
• Instantly calculate eligibility for federal student
aid
• Generate a FAFSA—a FAFSA populated with
student FAFSA4caster data will be available
when the student is ready to file the official
FAFSA
http://www.fafsa4caster.ed.gov/
College Goal Sunday
Sunday, February 8, 2009 2:00 PM
▼ Locations throughout Ohio
▼ College Goal Sunday offers the opportunity to have
expert help completing the Free Application for Federal
Student Aid (FAFSA).
▼ Financial aid professionals from Ohio colleges &
universities will be available walk you and your family
through the financial aid process.
▼ College Goal Sunday is brought to you by the Ohio
Association of Student Financial Aid Administrators
(OASFAA).
▼ Need Information for College Goal Sunday?
Call Ohio’s College Access Information Hotline
1-877-428-8246
OASFAA Counselor Workshops
2008
▼ Save the date!
▼ Registration begins
the week of Oct. 6
▼ www.oasfaa.org
Tuesday - December 2, 2008
▼ University of Northwestern Ohio
▼ Hocking College
▼ Belmont Technical College
▼ Xavier University
Wednesday – December 3, 2008
▼ Kent State University
▼ Bowling Green State University
Thursday - December 4, 2008
▼ Baldwin-Wallace College
▼ Ashland University
▼ Shawnee State University
Friday – December 5, 2008
▼ Stark State College
▼ University of Dayton
▼ Columbus State Community College
Questions?
www.oasfaa.org