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New Student Services Academy July 18-19, 2013 Stillwater, OK

New Student Services Academy July 18-19, 2013 Stillwater, OK. Financial Aid Basics and Resources. What does eligibility mean to the U.S. Dept. of Education? . The institution must be eligible The career major must be eligible The student must be eligible For more information

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New Student Services Academy July 18-19, 2013 Stillwater, OK

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  1. New Student Services AcademyJuly 18-19, 2013Stillwater, OK Financial Aid Basics and Resources

  2. What does eligibility mean to the U.S. Dept. of Education? • The institution must be eligible • The career major must be eligible • The student must be eligible For more information • Fundamentals of Federal Student Aid Administration workshops scheduled through September, 2013, are now full except for the August 12–16, 2013, workshop in Denver. Sometime in late summer we will announce dates and locations for the 2013–2014 workshop series. If you wish to attend one of the 2013–2014 workshops, you will need to complete the online Introduction to Federal Student Aid Administration when it re-opens in late summer. • http://www2.ed.gov/offices/OSFAP/training/newfaps.html

  3. Financial Aid Resources • To apply: http://www.fafsa.ed.gov/ The student goes on-line to obtain a personal pin number and to complete the Free Application for Federal Student Aid. • For Federal Student Aid Administration information, federal updates, training opportunities: http://ifap.ed.gov/

  4. Financial Aid Updates 2013-2014 • Maximum Scheduled Award - $5,645 • For full time student enrolled for the 2013-2014 award year. • Satisfactory Academic Progress The policy is at least as strict as the policy the institution applies to a student who is not receiving assistance under the title IVprograms. The school must have a process that evaluates SAP at the end of each payment period.

  5. Financial Aid Updates 2013-2014(continued) • New verification requirements: • V1 Standard Verification Group (income, household number, number in college, SNAP benefits, Child Support Paid) • V2 SNAP benefits (Supplemental Nutrition Assistance Program) • V3 Child Support Paid Verification Group • V4 Custom Verification Group (HS completion, identity/statement of educational purpose, SNAP and Child Support) • V5 HS completion and identity/statement of educational purpose

  6. Financial Aid Updates 2013-2014(continued) • Pell Grant Lifetime Eligibility Used (600%/equivalent of 6 yrs) • IRS Data Retrieval Tool is recommended • If unable to retrieve then an IRS Tax Transcript is required • Reminder: Institution must make voter registration forms widely available to students who are in attendance. Electronic distribution is permitted. www.elections.ok.gov

  7. The right student in the right program at the right time.TEAM APPROACH AT WTC Student makes inquiry. Testing date is set. Assessment and introductory financial aid information is mailed. Typically the student tests and enrolls on the same day. After testing the student meets with the guidance counselor for career assessment interpretation and career major selection. Student meets with financial aid administrator for detailed information and assistance. Student meets with Student Accounts Manager for detailed payment information.

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