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Keys Questions about Financial Aid

2012 Avon High School Financial Aid Workshop Thomas M. Ratliff Associate Vice President for Financial Aid. Keys Questions about Financial Aid. What options do we have? Where do we start? How do we apply for aid? Will my information be safe?

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Keys Questions about Financial Aid

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  1. 2012 Avon High School Financial Aid Workshop Thomas M. RatliffAssociate Vice President for Financial Aid

  2. Keys Questions about Financial Aid • What options do we have? • Where do we start? • How do we apply for aid? • Will my information be safe? • What funds could we get? • Is it worth my time?

  3. Net Price Calculators • These relatively new tools are designed to give you good estimates of your likely aid eligibility early on in the process • All schools are required to have one • Using the one at the school itself will often get you better information than any other sources • Example at • www.indwes.edu/Financial-Aid/Undergraduate

  4. Then complete the FAFSA Online at: www.fafsa.gov • Can also file using paper FAFSA if needed

  5. Complete the FAFSA • Free Application for Federal Student Aid (FAFSA)is key to getting all federal or state financial aid. • File by March 10th – Indiana’s Priority Deadline • Very helpfulto have taxes already completed • Can use estimates, but must remember to update the data after taxes are filed • – Before May 15th State corrections deadline • It is much better to use estimates than miss the March 10th Indiana filing deadline

  6. Student info is needed first • Name • Social Security Number • Date of Birth • Apply for a PIN number • Create a password

  7. Student info • Citizenship • Selective Service registration • High School completion • College grade level • Degree level sought • Interest in Work-study • Bachelor’s degree earned • Education levels for parents • Gender • Mailing address • State residency • Phone number • Email • Marital Status • Drivers license • IRS Data Match option

  8. IWU’s Code is 001822

  9. Student Dependency Questions • Born before January 1, 1989? • Married? • In a master’s or doctoral program? • Support dependents over 50%? • Military active duty or veteran? • Orphan, foster child or Ward of the Court? • Court designated Emancipated Minor? • Under a legal guardianship? • Homeless?

  10. Parent info • PIN number • IRS Data Match Option • Tax filing info • AGI • Income from work • Dislocated Worker status • Federal tax paid • Exemptions claimed • Marital status and date • Social Security Numbers • Dates of Birth • Email • State Residency • Household size • Number in college • Excluding the parents

  11. Sign and Submit the FAFSA • Student encouraged to use PIN Number • Must read and agree to Terms of Agreement • Parent signature • Electronically with a PIN Number • Print and mail a Signature Page • Submit without signatures • Must read and agree to Terms of Agreement

  12. After filing the FAFSA • The federal government will calculate your Expected Family Contribution (EFC) and send it to the colleges you released you information to. • EFCs range from 0 – 99999 • 0 = full Pell Grant eligibility • Financial Aid Office staff will • Request more documentation if needed • Review your file for accuracy and completeness • Correct FAFSA answers if necessary

  13. Then Financial Aid Staff will • Calculate your estimated Cost of Attendance (COA) • This includes tuition, room, board, books and supplies, transportation, personal and miscellaneous expenses COA – EFC = Need • Award aid from all available sources to try to fill your financial Need • Notify your student electronically or by paper letter of the aid they qualify for

  14. What funds could you get? • Gift aid includes • Grants – federal, state and institutional • Scholarships – institutional and off campus • Self-help aid includes: • Work Study – federal or state • Loans – federal, institutional or private bank

  15. Federal Title IV Aid Programs • Federal Pell Grant • Federal SEOG Grant • TEACH Grant • Federal Work Study • Federal Perkins Loan • Federal Direct Loan • Subsidized and Unsubsidized • Parent Loan for Undergraduate Students (PLUS)

  16. State Aid Programs - SSACI • Frank O’Bannon Grant Program • Higher Education Award • Freedom of Choice Award • 21st Century Scholars Program • Indiana Nursing Scholarship • Mitch Daniels Early Graduation Scholarship • Child of Certain Veterans and Public Safety Officer Supplemental Grant • Additional info: www.in.gov/ssaci/2359.htm

  17. Scholarships • Most can be sought during Junior or Senior year • Use free scholarship search tools • Some possibilities • www.brokescholar.com • www.fastweb.com • www.scholarshipexperts.com • College Board Scholarship Search • You should not pay for scholarship search help

  18. Other Financial Resources • At the institution • Academic scholarships, Athletic, Music, Art Awards • Benefits for employee dependents • Military benefits and ROTC programs • Private businesses and civic organizations • Alternative student loans • Remember to report all scholarships and other funds to your Financial Aid Office early

  19. Thanks for coming to the2012 Avon High School Financial Aid Workshop Thomas M. RatliffAssociate Vice President for Financial Aid Indiana Wesleyan University Financial Aid Office765-677-2116

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