2013-2014 FAFSA

1. 2013-2014 FAFSA Jamie Petersen Cheryl Warmann Oakton Community College January 9, 2013 enrollmentcenter@oakton.edu

2. Demographic Information • Student’s name and address • Student’s SSN and date of birth • Student’s driver’s license information • Student’s email address (preferably not the high school assigned email address)

3. Citizenship Status • U.S. Citizen • Eligible Noncitizen • Permanent U.S. Resident with Permanent Resident Card • Conditional Permanent Resident • Arrival-Departure Record I-94 • List Alien ID Number • Student needs a SSN; parents do not

4. Student’s Marital Status • Single • Married/Remarried • Separated • Divorced/Widowed

5. State of Legal Residence • Illinois • Enter date of legal residency if moved to IL after January 1, 2008

6. Selective Service • If child is male and NOT registered, select “Register me” • If there is a question about registration, it is okay to check “Register me”

7. Drug Convictions & Student Aid • No, I have never received federal student aid

8. Parent(s) Education • Select highest educational level completed

9. High School • High School Completion Status • High School Name • High School City and State

10. College Information • Grade level • Most likely “never attended college and 1st year undergraduate” • Degree or certificate • Most likely “1st bachelor’s degree” or “associate degree” • School codes • Can enter up to 10 colleges • Search capability

11. Dependency Status • Not usually • Not born before 1990 • Not married • Not in graduate school • Not in service on active duty • Not a veteran

12. Dependency Status • Not usually • Providing more than 50% of support of a child • Providing more than 50% of support for other dependents

13. Dependency Status • Not usually • An orphan, ward of the court, foster care (after age 13) • Emancipated by the court • Assigned a legal guardian by the court • Determined to be an unaccompanied youth & homeless after July 1, 2012, by • High school • Director of HUD funded shelter • Director of youth center or transitional living program

14. Who is a Parent? • Married or remarried • Biological Parent or Step-Parent • Divorced or Separated, Single, Widowed • Parent that student lived with more in last 12 months • Month & Year of change in marital status • Email address to learn FAFSA processed

15. Identifiers • Social Security Number • If parent is remarried; also include step-parent • Last Name and First Initial • On social security card • Date of Birth

16. Dislocated Worker • Yes if: • Receiving unemployment benefits due to being laid off and is unlikely to return to the same type of work; or • Laid off or received a lay-off notice; or • Was self employed but is now unemployed due to economic conditions or natural disaster; or • Is a ‘displaced homemaker’ • Previously a ‘stay at home’ mom or dad, no longer supported by spouse, does not have secure employment

17. State of Legal Residence • Illinois • Enter date of legal residency if parent moved to IL after January 1, 2008. Use date for parent who has lived in the state the longest

18. Tax Type • Have already completed • Will file • Not filing • 1040 (used if you itemize) • 1040A, 1040EZ • Foreign Tax Return • Puerto Rico Tax Return

19. IRS Data Retrieval Process • Available February 1, 2013 • Available during initial application and correction process • Question prompts will be asked to determine eligibility to use the Data Retrieval System • If no, request will be made for an IRS Tax Transcript

20. IRS Tax Transcripts • Online request • www.irs.gov • “Order a tax return or account transcript” • Telephone request • 1-800-908-9946 • Paper request • IRS Form 4506T-EZ • http://www.irs.gov/pub/irs-pdf/f4506tez.pdf • **Must know address used on tax return!

21. Adjusted Gross Income • 2012 Federal Income Tax Form • 1040 — Line 37 • 1040A — Line 21 • 1040EZ — Line 4

22. Earnings from Work • W-2 statements or • Federal 1040 – Add lines 7, 12, 18 and Box 14 or IRS Schedule K-1 or • Federal 1040A – Line 7 or • Federal 1040EZ – Line 1 • If you did not work – Enter Zero

23. Income Tax • Federal 1040 – Line 55 or • Federal 1040A – Line 35 or • Federal 1040EZ – Line 10 • Not the amount withheld

24. Federal Benefits 2011 or 2012 • Checkmark • Supplemental Security Income (disability related) • Supplemental Nutrition Assistance Program (SNAP) – commonly known as food stamps • Free or Reduced Price School Lunch • Temporary Assistance for Needy Families (TANF) • Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) • Not “medical card”

25. Additional Financial Info • Educational Credits • (Next year may have Hope Scholarship Credit) • Child Support Paid • Taxable earnings from limited Financial Aid • (Next year student may have federal work study) • Taxable grants or scholarships • Combat Pay or Special Combat Pay • Cooperative education earnings

26. Additional Financial Info • Child Support Paid • Statement signed by applicant, spouse, or parent who paid child support certifying: • Amount of child support paid • Name of person to whom child support paid; and • Name of children for who child support paid. • If institution believes information is inaccurate, other acceptable documentation: • Copy of separation or divorce decree listing amount • Statement from individual receiving payment showing amount • Copies of child support checks or money order receipts

27. Untaxed Income • Tax-Deferred Savings (eg: 401K & 403B) • W-2 Box 12a-12d (Codes D, E, F, G, H and S) • Child Support Received • IRA Deductions/SEP, SIMPLE, Keogh, etc • Tax Exempt Interest (eg: Municipal Bonds) • Untaxed IRA Distributions/Pensions • Exclude Rollovers

28. Untaxed Income • Military, Clergy, etc • Housing, food, other living allowances • Noneducational Veterans Benefits • Disability, Death Pension • Other untaxed • Workmen’s Compensation; First-time homebuyer tax credit • Gifts (eg: someone paying bills)

29. Cash, Savings, Checking • As of the day FAFSA completed

30. Investments (Net Worth) • Real Estate • Second home • Rental property • Trust Funds • Unified Gift & Transfers to Minor Accounts • Money Market Funds • Mutual Funds • Certificates of Deposit

31. Investments • Stocks/Stock Options • Bonds • Other Securities • Coverdell Savings Accounts • 529 College Savings Plans • Accounts reported as parental investment • Include sibling’s account • 529 Prepaid Tuition Plan (refund value)

32. Business/Farms (Net Worth) • Investment Farms (not family farm) • Business • 100 or more full-time employees • Family controls less than 50%

33. Student Finances • Follow same definition as parent section • Assets • Cash, Savings, Checking-as of today • Investments-Unified Gift to Minors/Trust Funds • Dependent earnings under $6,130 are “protected”

34. Family Members in Household • Student • Parent(s) • Parents’ other dependent children • Other people if • Live with Parents and • Receive 50% or more support from Parents and • Will continue to receive 50% or more support from Parents in 2013-2014

35. College Students • Student • Include others if they will attend at least half-time in 2013-2014 • Do not include parent(s)

36. Contribution from Assets • Student • Max of $200 per $1,000 of savings/investment • Parent age 45 (single parent) • Assets over $10,600 • $120 for every $1,000 • Parent age 45 (two parents) • Assets over $36,200 • $120 for every $1,000

37. PINs, Colleges, and Deadlines • Create PINs (electronic signatures) • Student and Parent • When online—keep going until you have a confirmation number • Check College Websites for Deadlines • IL Monetary Award Program

38. Formula and Calculators • www.ifap.ed.gov • Search EFC Formula Guide • www.fafsa4caster.ed.gov • www.collegeillinois.org • College • Calculators • EFC Calculator

39. Additional Help • Federal Phone Number • 1-800-4-FED-AID • Oakton Community College • By appointment • Mon-Fri; Feb. 4-15; 9am – 4pm • 847-635-1708 or enrollmentcenter@oakton.edu • Collegeillinois.org for other sessions