2. Going to College

No matter who you are, you CAN
go to college

Types of colleges and their costs
vary greatly
2

3. Paying for College

College is an investment in your
future

Many forms of financial aid are
available to help you pay for
your education
3

4. What’s Financial Aid?
Financial aid is money to help
you pay educational costs, such
as:
•
•
•
•
•
•
Tuition
Fees
Books
Room and board
Transportation
Personal expenses
4

5. 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
5

6. 
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
6

7. 7

8. 
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
8

9. 
Yearly online renewal

Some fields can be prepopulated with previous FAFSA
information

Saves time and helps you meet
deadlines
9

10. •
Skip logic bypasses unnecessary
questions based on answers
you’ve already provided

Electronically sign the FAFSA using
your Personal Identification
Number (PIN)
10

11. 
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)
11

12. 
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
12

13. Type in FAFSA on
the Web
Worksheet and
Search
Click here for
FAFSA4caster
13

14. 14

15. 
Social Security Number
Student and spouse or parent

Student’s driver’s license
information

Income and W-2 figures

Household size
15

16. 
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
16

17.  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
17

18. State Deadlines
18

19. FAFSA Sections
The FAFSA is divided into these
sections:







Student Demographics
School Selection
Dependency Status
Parent Demographics
Financial Information
Sign and Submit
Confirmation
19

20. Student Demographics
Help
and
Hints
boxes
are
located
on
each
screen
to assist
you
Use
your full
name
as
shown
on your
Social
Security
card
20

21. Student Demographics
Enter your birth
year, not the
current year
Enter your
marital status
as of the day
you submit your
FAFSA
21

22. Student Demographics
Eighteen
year-old
males who
haven’t
registered
with Selective
Service can’t
receive
financial aid.
You can elect
to register
here on your
FAFSA.
22

23. 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, sim
ply type in the
name, city
and state.
23

24. 24

25. When you click
‘View Selected
School
Information’,
you’ll see a
comparison like
this.
25

26. You must provide
Housing Plans for
each school
you’ve chosen.
Your options:
• On campus
• Off campus
• With Parents
26

27. 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.
27

28. Dependency Status
• Dependent students must
provide parental information
• Independent students aren’t
required to show parental
information unless requested by
their school
28

29. Dependency Status
To view the Dependency Status Questionnaire,
check out the Resources tab at UCanGo2.org.
29

30. 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.
30

31. Special Circumstances
This page
explains
some
exceptions to
the rule for
providing
parental
information.
Contact your
financial aid
office for
more details.
31

32. 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
32

33. 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.
33

34. Financial Info - Parent
This page
requests
additional
income and
asset
information for
the parents.
34

35. Financial Info -
t
The Student Financial Information section requests the type of
tax form the student filed, as well as the student’s income and
asset figures.
35

36. 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
36

37. IRS Data Retrieval

Available February 1, 2012 for the
2012-13 FAFSA processing cycle

Participation is voluntary

Reduces documents requested
by financial aid office
37

38. 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
38

39. 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.
39

40. 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.
40

41. 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.
41

42. 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.
42

43. Student Aid Report (SAR)

Summarizes the information on your
FAFSA

Sent electronically or in paper form
after your FAFSA is received

Review for accuracy and correct any
errors as soon as possible

Will not list the amount of financial aid
you’re eligible to receive

The schools listed on your FAFSA will
also receive a summary
43

44. 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
44

45. 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
45

46. 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
46

47. 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
47

48. 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
48

49. Financial Need
-
Cost of Attendance
-Expected Family
Contribution
Other
Aid
Financial Need
49

50. 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
50

51. Aid Types

Need-based aid – Based on your
financial situation

Merit-based aid – Based on
special
abilities, accomplishments, caree
r paths, grades, hobbies, etc. (not
based on financial need)
51

52. Federal Financial Aid
Federal Pell Grant
 $5,550 annual maximum
 Undergraduates without a bachelor’s degree
 Need-based
Federal Supplemental Educational Opportunity
Grant (FSEOG)
 $4,000 annual maximum
 Undergraduates without a bachelor’s degree
 Priority given to Pell Grant recipients with high
financial need
52

53. Federal Financial Aid
Federal Work-Study (FWS)



Awarded by the institution
Offers campus-based or community
employment for students
Need-based
Federal Perkins Loan



$5,500 annual maximum
5% loans with a 9 month grace period
Need-based
53

54. 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
54

55. Federal Financial Aid
Parent Loan for Undergraduate
Students (PLUS)





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
55

56. 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.
56

57. studentaid.ed.gov





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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