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Applying for Financial Aid 2012-2013

Applying for Financial Aid 2012-2013. Sponsored by: Santiago High School Presented by: Nelya I Parada. 2. What Will You Learn Today?. Types and sources of financial aid Required financial aid application forms

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Applying for Financial Aid 2012-2013

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  1. Applying forFinancial Aid2012-2013

  2. Sponsored by: Santiago High School Presented by:Nelya I Parada 2

  3. What Will You Learn Today? • Types and sources of financial aid • Required financial aid application forms • How to complete the Free Application for Federal Student Aid (FAFSA) and the Cal Grant GPA Verification Form • Answers to your individual questions

  4. 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 Types of Financial Aid

  5. Federal government State government Colleges and universities Private agencies, companies, foundations, and parents’ employers Sources of Financial Aid

  6. Cal Grant A Entitlement Awards – for high school seniors and recent high school grads with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, who demonstrate financial need Cal Grant B Entitlement Awards – for high school seniors and recent high school grads with a GPA of at least 2.0, who come from disadvantaged or low income families, whose family income and assets are below the state ceilings, and who demonstrate financial need Cal Grant C Awards - for students from low income families pursuing vocational programs of study Cal Grants

  7. To be eligible for a Cal Grant, the student must also: be a U.S. citizen or eligible noncitizen be a California resident attend an accredited California college or university at least half-time in 2012-13 Eligibility for Cal Grants

  8. Residency and Cal Grant Eligibility for 2012-2013 • If unmarried and under 18 years of age, the student will be considered a legal resident of California if: • parents have been legal residents of California for one year immediately prior to September 20, 2012, or • student has lived in California with other legal California residents, other than parents, for two years immediately prior to September 20, 2012, or • parents who are active duty military, stationed in California at the time the student enrolls in college, or parents’ military home of record is California • If married or 18 years of age or older, the student establishes his/her own residence status. The student must be a legal resident of California for one year prior to September 20, 2012

  9. Check with your high school or college counselor for more details on how to file the Cal Grant GPA Verification Form 2012-2013 Cal Grant Application Requirements • By March 2, 2012, complete and submit: Free Application for Federal Student Aid (FAFSA) Cal Grant GPA Verification Form

  10. California Chafee Grant • The California Chafee Grant program provides up to $5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S. based on available funding • To be eligible, foster youth must have been in California foster care on their 16th birthday and not have reached their 22nd birthday before July 1, 2012 • Foster youth are encouraged to apply during their senior year of high school • To apply, the foster youth must complete: • 2012-2013 FAFSA • California Chafee Grant Program Application To learn more about the Chafee Grant, go to: www.chafee.csac.ca.gov

  11. FAFSA Types of Applications • Cal Grant GPA Verification Form • Other applications or forms as required by the college such as: • CSS/Financial Aid PROFILE • Institutional Scholarship and/or • Financial Aid Application • 2011 federal tax returns (along with all schedules and W-2s) or other income documentation

  12. File early, but no later than March 2, 2012 Use estimated 2011 income information if taxes are not complete at time of FAFSA submission Student and at least one parent whose information is reported must complete and sign the FAFSA FAFSA Information & Tips

  13. FAFSA on the Web (FOTW) • Internet application used by students and parents to complete electronic FAFSA at: www.fafsa.gov • Sophisticated on-line edits and skip logic so that errors are less likely to be made • On-line help is available for each question • Student and one custodial parent should get a federal PIN at: • www.pin.ed.gov

  14. Before starting the FAFSA on the Web (FOTW), gather: Student driver’s license Student Alien Registration Card Student and Parent Social Security cards 2011 W-2 Forms and records of money earned and other taxable benefits 2011 federal income tax form (even if not yet completed) Records of untaxed income Current bank statements Business, farm, and other real estate records Records of stocks, bonds, and other investments Complete 2012-13 FOTW Worksheet Create a file for copies of all financial aid documents submitted Getting Ready

  15. Section 1–Student Demographics Section 2–School Selection Section 3–Dependency Status Section 4–Parent Demographics Section 5 – Financial Information Section 6 – Sign and Submit Section 7 – Confirmation The FOTW A Seven-Section Online Form

  16. Section 1STUDENT DEMOGRAPHICS

  17. Section 1 - Student Name • The FOTW will ask for the student’s first and last names • Make sure to report the student’s name exactly as it appears on the student’s Social Security card

  18. Section 1 - Student Social Security Number • Double check the student’s Social Security Number when entering it on the FOTW. • Both student name and Social Security Number will be compared through a database match.

  19. Section 1 - Student Marital Status • The student should check his or her marital status as of the date the FAFSA on the Web is submitted • If the student is married or remarried, he or she will be asked to provide information about his or her spouse

  20. Section 1 - Eligible Noncitizen If eligible noncitizen, write in the student’s eight- or nine-digit Alien Registration Number (ARN) • Precede an eight-digit ARN with a zero • Copy of the student’s Permanent Registration Card might be requested by the financial aid office If neither a citizen or eligible noncitizen, the student is ineligible for federal/state aid, but might still be eligible for institutional funds 20

  21. and is applying to any California public college or university, check to see if he/she might be eligible for in-state tuition/fee costs visit www.CalDreamAct.org to learn more about the new California Dream Act signed into law in 2011 check with colleges and universities about CA Dream Act institutional financial aid and private scholarships and the timelines for applying apply for all other private scholarships for which the student may be eligible start inquiring in elementary, middle or high school to see if it is possiblefor younger students to become permanent residents Section 1 - Undocumented Students If the student is undocumented • For more information and a list of scholarships, go towww.latinocollegedollars.org • http://www.maldef.org/assets/pdf/Scholarship_List_2010_2011.pdf www.finaid.org/otheraid/undocumented.phtml

  22. Section 1 - Selective Service Registration • Male students who are between the ages of 18 and 25 years 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. • The student may also register by going to: www.sss.gov

  23. Section 1 - High School Completion Status • High School Completion Status • When the student begins college in the 2012-2013 school year, what will be the student’s high school completion status? • High school diploma • GED certificate • Home schooled • None of the above

  24. Section 1 - Grade Level in 2012-13 • When the student begins the 2012-2013 school year, what will be his/her grade level? • Never attended college/1st year • Attended college before/1st year • 2nd year/sophomore • 3rd year/junior • 4th year/senior • 5th year/other undergraduate • 1st year graduate/professional • Continuing graduate/professional or beyond

  25. Section 1 - Degree or Certificate Objective • In the 2012-2013 school year, what degree or certificate will you, the student, be working on? • Some options are: • - 1st bachelor’s degree • - Associate degree (occupational or technical program) • - Associate degree (general education or transfer program) • - Graduate or professional degree

  26. Section 1 - First Bachelor’s Degree • Will you have your first Bachelor’s degree before July 1, 2012? • students starting college in 2012-13 should mark “No” to this question • only students who will be pursuing a graduate or professional degree during 2012-13 should mark “Yes”

  27. Section 1 - High School Question • High School Question • Enter the name, city and state location of the school the student attends • Select “Confirm” to retrieve the high school information • If no matches are found, the student should select “Next” to save the search information and continue with the FOTW application

  28. Section 2SCHOOL SELECTION

  29. Section 2 - School Selection • FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information • The student should list first the California school he/she is most likely to attend • The student may re-order his/her school choices • Then list other schools to which the student is applying for admission

  30. Section 2 - School Selection • While in the School Selection Section, the student will be asked to enter the location and name or the federal school code for each school to which he/she wants FOTW information sent • If the student does not know the federal school code, enter the state in which the college/university is located and search for the federal school code by the college/university name

  31. Section 2 - School Selection • The student will be asked to select the housing plan that best describes the type of housing the student expects to have while attending each listed school • The choices for housing are: • On Campus • With Parent • Off Campus • The student’s choice of housing may affect the amount of financial aid for which he/she is eligible. It is usually more expensive to live on or off campus than with parents or relatives • Remember, selecting the On Campus housing option is not an application for On Campus housing. Check with the colleges/ universities for housing information when you apply for admission

  32. Section 3STUDENT DEPENDENCY STATUS

  33. Section 3 - Determination of Student Dependency Status

  34. Section 4PARENT DEMOGRAPHICS

  35. Section 4 - Parent Demographics • 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 2011 federal tax return, use W-2 forms and/or other employment records - such as final 2011 pay check stubs - to estimate total income • Remember, rather than miss any filing deadline, use estimated 2011 income information 0 (no cents) 12,356

  36. Who is considered a parent? Biological or adoptive parent(s) In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months Stepparent (regardless of any prenuptial agreements) Section 4 - Parent Demographics

  37. 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 are not considered parents unless they have adopted the student If this is not the case, the student must attempt to get biological parental information Colleges may use Professional Judgment to allow the student to file as independent Section 4 - Who is Not a Parent

  38. Section 4 – Parents’ Marital Status • Report your parents’ marital status as of today • Married or remarried • Single • Divorced or separated • Widowed • Depending on your parents’ answer to this question, they might be asked about the date of their marital status

  39. Section 4 - Parent Information • If the student is providing father’s/stepfather’s and/or mother’s/stepmother’s information, the student will need those parents’: • Social Security Numbers • Last names and first initials • Dates of birth

  40. Section 4 - Parent Household Size • Include in the parents’ household: • the student • parent(s) • parents’ other dependent children, if the parents provide more than half their support or the children could answer “no” to every question in Section 3, regardless of where they live • other people, if they now live with the parents and will continue to do so from 7/1/12 through 6/30/13, and if the parents provide more than half their support now, and will continue to provide support from 7/1/12 through 6/30/13

  41. Section 5FINANCIAL INFORMATION

  42. Section 5 - Parents’ 2011 Tax Return Filing Status • The parents will be asked to provide information about their tax filing status for 2011: • If parents have completed a 2011 federal income tax return, select “Already completed” • If they have not as yet filed, but plan to file a 2011 federal income tax return, select “Will file” • If they have not, nor will not, file a 2011 federal income tax return and are not required to do so, select “Not going to file”

  43. Section 5 - Parent 2011 Adjusted Gross Income • If the student’s parents have not yet filed their 2011 federal tax return, use estimated 2011 information for this question • The “Income Estimator” on the FOTW may help you calculate this amount • If the student’s parents have completed their 2011 federal tax return, use actual 2011 tax return information to complete this item if they are not eligible to use the IRS Data Retrieval process

  44. Use W-2 forms and other records to determine all income in 2011 earned from work (including business income earned from self-employment) for father/stepfather and/or mother/stepmother Section 5 - Money Earned from Work by Parent(s) in 2011

  45. Go to www.fafsa.gov to complete and submit your application. For more information on federal student aid, visit www.FederalStudentAid.ed.gov. You can also talk with your college’s financial aid office about other types of student aid that may be available

  46. Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as: Loss or reduction in parent or student income or assets Death or serious illness Natural disasters affecting parent income or assets such as the recent California wind storms, wild fires, floods, or mudslides Unusual medical or dental expenses not covered by insurance Reduction in child support, Social Security benefits or other untaxed benefit Financial responsibility for elderly grandparents, or Any other unusual circumstances that affect a family’s ability to contribute to higher education Special Circumstances

  47. FAFSA BridgeLink to California Application Page Students can easily link to the California Student Aid Commission page (see below) to complete asset information for the Cal Grant and to apply for a Chafee Grant. 2012-2013 California Gran Aid (Cal Grant or Chafee) 47

  48. Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor ê Students who complete FAFSA and Cal Grant GPA Verification Form receive California Aid Report (CAR) ê Students and families review SAR and CAR for important information and accuracy of data ê Colleges match admission records with FAFSA and other required financial aid forms to determine aid eligibility ê Colleges mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms What Happens Next?

  49. After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment 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 1 Keep a copy of the SAR with other financial aid documents Student Aid Report (SAR)

  50. Some students may be required to verify the information reported on the FAFSA If selected for verification, the tax information of federal tax filers will be verified through The IRS Date Retrieval Process, or IRS Tax transcript if requested by the college or university Non-tax filers selected for verification may be asked to provide Signed statement confirming that they did not file a federal tax return and were not required by IRS to do so Copies of W-2s from each employer , if any income earned from work All selected aid applicants will also be asked to verify certain demographic data listed such as Household size and number in college Child Support paid and Food Stamps/SNAP, if reported on the FAFSA Federal Verification

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