Financial Aid- Finding Funds for College

1. Financial Aid-Finding Funds for College Dana Wesley School Counselor Midway Alternative High School Canyon ISD

2. If you want it- there is always a way! There is Grants, Scholarships, Loans, Work programs, etc.

3. How to Apply for Financial Aid • Don’t underestimate your options. • Never assume you’re too poor to attend college or too rich to receive some type of financial aid. • Don’t become overwhelmed by the price of attending college, it may not be what it seems.

4. FreeApplication forFederalStudentAid www.fafsa.ed.gov The FAFSA information is used to calculate the Expected Family Contribution (EFC) and determine the student’s eligibility for most federal and state assistance. Tell your friends! The official FAFSASM is at www.FAFSA.gov – not at a “.com” Web site. If you go to a “.com” site, you will probably be asked to pay to submit the FAFSA. Remember, the first F in “FAFSA” stands for “free” – so use the official government site to submit your application. You must do this!

5. The first step in the financial aid process is to complete and submit the Free Application for Federal Student Aid (FAFSA). FAFSA filing options: • Paper FAFSA – processes in (7-10) days • FAFSA on the Web– processes in (3-5) days Electronic filing eliminates delays that can occur by mailing the application. Also, FAFSA on the Web edits the application prior to submitting it to Federal Student Aid, which significantly reduces the number of errors on the application. • For help with filling out the FAFSA, you can go to http://www.studentaid.ed.gov/students/publications/completing_fafsa/index.html If you provide all required information and required signatures, your FAFSA will be processed in 3-5 days and a Student Aid Report (SAR) will be sent to you and the colleges you have listed. Your SAR will summarize the data reported on your FAFSA. You should check your SAR carefully for accuracy and keep a copy for your records. The SAR also contains a Data Release Number (DRN), which appears on the first page in the upper right corner. On the electronic SAR the DRN is located in the box that contains the Application Receipt date, below the Expected Family Contribution (EFC). The DRN is also located on your confirmation page. You will need the DRN when you call the Federal Student Aid Information Center to change certain information on your application, such as to add or delete a school code. If your FAFSA is complete, an EFC will be printed in the upper right hand corner of the SAR. Your EFC is based on all of the information reported on your FAFSA. Your school will use the EFC to award your financial aid. Note: Your EFC is not the amount of money your family will have to pay for college nor is it the amount of federal student aid you will receive. It is a number used by your college to calculate the amount of federal student aid you are eligible to receive.

6. Dependency Status INDEPENDENT students fit into at least one of the categories listed below: • If you can answer No to all of the following questions, you are considered a dependent student on the Free Application for Federal Student Aid (FAFSA): • Were you born before January 1, 1988? • As of today are you married? • At the beginning of the 2011-2012 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, or graduate certificate, etc.)? • Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training? • Are you a veteran of the U.S. Armed Forces? • Do you have children who will receive more than half of their support from you between July 1, 2011 and June 30, 2012? • Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you, now and through June 30, 2012? • At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court? • As determined by a court in your state of legal residence, are you or were you an emancipated minor? • As determined by a court in your state of legal residence, are you or were you in legal guardianship? • At any time on or after July 1, 2010, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless? • At any time on or after July 1, 2010, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless? • At any time on or after July 1, 2010, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless? Note: If the student is DEPENDENT, report student and parent income and assets on the FAFSA. Not living withparentsdoesnotmakethe student independent.

7. What documents do I need to fill out a FAFSA? • You will need records of income earned in the year prior to when you will start school. You may also need records of your parents’ income information if you are a dependent student. • For the 2011-2012 school year you will need financial information from 2010. You may need to refer to: • Your Social Security card. It is important that you enter your Social Security Number correctly! • Your driver’s license (if any) • Your 2010 W-2 forms and other records of money earned • Your (and your spouse’s, if you are married) 2010 Federal Income Tax Return. • IRS 1040, 1040A, 1040 EZ • Foreign Tax Return, or • Tax Return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federal States of Micronesia, or Palau • Your Parents’ 2010 Federal Income Tax Return (if you are a dependent student) • Your 2010 untaxed income records • Your current bank statements • Your current business and investment mortgage information, business and farm records, stock, bond and other investment records • Your alien registration or permanent resident card (if you are not a U.S. citizen) • To organize your information, you can print and complete a FAFSA on the Web Worksheet before you begin entering your information online. However, you are not required to do so. FAFSA on the Web will guide you through the questions that you must answer, and you can save your application and return to it later if you don’t have the information you need to answer any of the questions. • Keep these records! You may need them again. Do not mail your records to Federal Student Aid.

8. How to Apply for Financial AidOther Things to Know About the Process • Apply early. • Information reported on the FAFSA is confidential and is used ONLY to determine financial aid eligibility. • You may be asked to submit documentation to the financial aid office for verification purposes. • Supplemental applications or forms may be required. • Keep track of DEADLINES!!! • Keep a copy of everything you submit.

9. If you plan on going to college before Fall 2012, then you need to do this now. • If you plan on going to college Fall 2012 or Spring 2013, then you need to fill out FAFSA as soon after Jan. 1, 2012 as possible. Important Information

10. Apply For Financial Aid • Applying for financial aid requires a little work on your part. But the fact is, you won't receive assistance unless you ask for it. And asking for it means completing a few forms. The financial aid office at the college you plan to attend will be in charge of awarding you financial aid. Deadlines matter! The earlier you submit your forms, the more likely you are to get a good financial aid package. Check your college financial aid office for deadlines and help! It takes time start Now!

11. Check with Mrs. Wesley after November 18, 2011, so moreimportant information! • Scholarships information for the fall 2012 will be available.