1 / 46

What every Senior should know?

What every Senior should know?. Jill Rayner Director. Applying for Financial aid. Free Application for Federal Student Aid (FAFSA) Available Jan 1 st www.fafsa.gov Can used estimated taxes Need a Federal pin for both student and parent (if dependent)

metta
Download Presentation

What every Senior should know?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What every Senior should know? Jill Rayner Director

  2. Applying for Financial aid Free Application for Federal Student Aid (FAFSA) • Available Jan 1st • www.fafsa.gov • Can used estimated taxes • Need a Federal pin for both student and parent (if dependent) • Important to meet preferred submit date North Georgia – March 17th

  3. FAFSA Preferred Submit date – March 17th Priority for campus base aid and need based scholarships Deadline for submitting FAFSA – May 1st Deadline for all paperwork and file completed – July 1st

  4. HOPE Scholarship Application • www.GAcollege411.org • HOPE only application • Some schools require both forms

  5. www.FAFSA.gov Within 24 hours, you will receive a SAR (Student Aid Report). Either by the email listed on your FAFSA or through the mail

  6. Common Errors on SAR • Leaving Blank fields • Using commas or decimals –round to the nearest dollar • Listing incorrect Social Security Number or Driver’s license number • Failing to use your legal name • Entering the wrong address – make sure it matches what you reported to the school • Entering the wrong federal income tax paid amount • Incorrectly filing income taxes as head of household

  7. More common errors • Listing parent marital status incorrectly – if your custodial parent has remarried, you’ll need the stepparent’s information as well • Failure to register with the Selective Service – once a male turns 18, they must register or be denied aid. • Reporting yourself as a veteran but you have only completed military training and have not served on active duty

  8. EFC Number Expected Family Contribution (EFC) The number is not a dollar amount but a number the financial aid office uses to determine what type and how much aid a student is eligible for to help pay for school. Stays the same regardless of the college

  9. Check for EFC On the right hand top corner, you should see an EFC (Expected Family Contribution) number… If you do not, then you have a major error, read the front of the SAR to find out what is needed to correct the error.

  10. Examples of Major Errors • Missing student or parent signature • If you did not have a PIN to sign your FAFSA at the time you filed it out, go back to www.fafsa.gov and add your PIN.

  11. Examples of Major Errors • Taxes paid = income earned • Check to make sure your tax information is correct • You also can go back on www.fafsa.gov and see if you can transfer your IRS data from your filed tax return onto your FAFSA (best solution)

  12. Correction Codes (C-Code) You may also see a Correction Code listed on your SAR: When you submit your FAFSA, the form goes through several federal databases to verify the information provided.

  13. C- Codes Social Security Administration: Checks number and full name If an error is found, check your SAR. If SAR is correct, provide a copy of your Social Security Card to the Financial aid office. Selective Service All males must register for Selective Service at their 18th birthday.

  14. C- Codes Homeland Security – checks citizenship or permanent resident If found, may need to see birth certificate or permanent resident card Department of Defense - checks veteran status If found, then will need a copy of your DD214 to check active duty years of service.

  15. C- Codes • Death Records – checks local records to make sure you are alive… if Social Security number is correct on SAR – And you have a pulse…. Then contact your Financial aid office immediately for assistance….

  16. Chosen for Verification Read the front page to see if you have been chosen for Verification • If you are chosen then you will be hearing soon from all the colleges on your FAFSA. Be ready…. • The U.S. Department of Education chose 1 out of every 3 students for a process called verification. Fin Aid offices are required to collect different federal documents from you and your parents including tax forms, W2s, food stamp etc. We also must collect proof of child support and other documents based on information reported on your FAFSA.

  17. SAR – Schools Listed Check your SAR for all schools listed – Make sure the school you want your SAR to go to is listed. If you have changed your mind about any school listed, send an email to that school’s financial aid office. This will help cut down on the number of request your will get for additional information.

  18. Important Note: Watch your school email account for updates on your financial aid Most schools only communicate through their school email account so it is important to check at least twice to three times a week.

  19. SAR is correct – Now what? If your SAR is correct or if you were chosen for verification and this process is complete – then you are in a GOOD to GO status….. We are ready to tell you how much aid you are eligible for…….. You will get an AWARD Letter……

  20. What is an Award Letter The Award letter tells you how much aid you are eligible based on your FAFSA and any other state information we have. The Award letter can be adjusted depending on any new information we receive such as private scholarship funds, finding out you are HOPE eligible, or maybe receiving a school scholarship.

  21. Financial Aid Terms: You need to know Cost of Attendance includes: Direct Cost – Tuition/Fees/ Room & Food Indirect Cost – Travel/ Books Cost of Attendance is the maximum a student can get in Financial aid.

  22. Financial Aid Terms: You need to know Financial Need is: Cost of Attendance minus EFC (Expected Family Contribution)

  23. Categories of Financial Aid Need Based Non – Need Based The category of aid you receive is based on your unmet need.

  24. Types of Financial Aid Scholarships: Money that does not have to be paid back Awarded based on need, merit, skill or unique characteristic WARNING : Do not pay for scholarship list

  25. Types of Financial Aid Grants: Money you do not have to pay back Usually awarded on financial need Largest grant is the Federal Pell Grant.

  26. Types of Financial Aid Loans: Money students and parents borrow to help pay college expenses Repayment usually begins after education is finished or if you leave school. Warning: Only borrow what you need

  27. Types of Financial Aid Employment: Allows students to earn money to help pay for educational expenses Can be on or off campus job as community service

  28. Sources of Financial aid Federal government – FAFSA State government – Hope application Private Sources Civic Groups and churches Employers

  29. Federal Aid Programs Federal Pell Grant TEACH Grant SEOG Grant Perkins Loan Direct Subsidized and Unsubsidized Loans Parent Plus Loans

  30. State Programs Residency requirements High School requirements SAT/ACT requirements Award aid on the basis of both merit and need Some schools use the FAFSA as the application. Some require you to do both the FAFSA and the HOPE application .

  31. STATE Programs HOPE Scholarship HERO awards Zell Scholarship Public Safety Officers grant Georgia Military Scholarship ROTC Grant/ Future Officers Grant GTEG for Private Schools www.gacollege411.orgfor more information

  32. HOPE Changes • Starts Fall semester 2011 • Percentage rate – FY 11 90% • Can change each year • Determined by the state legislatures

  33. HOPE Scholarship changed for Fall Semester 2011 What HOPE paid for Fall Semester 2011? • HOPE will pay $137.88 per credit hour for non-guaranteed tuition students • HOPE will not pay for any fees • HOPE will not pay any book allowance

  34. Other HOPE changes • Only pays regular undergraduate rate – will not pay for total price of online courses • Only pays up to 127 attempted hours • Will only pay up to seven years past high school graduation • Graduate high school 2012 – stops June 2019 • Active duty military service extension • Current FY10 paid HOPE students grandfathered in until June 2015

  35. Losing HOPE and Reentry Back • Same checkpoints 30, 60, & 90 attempted hours and every Spring semester • Can lose at any checkpoint but can only reenter after 30, 60 & 90 attempted hours. • NEW for Fall Semester 2011: • You can only reenter one time

  36. Losing HOPE and Reentry Back ** Determine if attending Summer semester is mathematically in your best interest – calculate your HOPE GPA

  37. Zell Miller Scholar Zell Miller Scholars will receive full regular tuition paid. Zell Miller scholars will not receive funding for fees or books. A valedictorian and salutatorian from each high school will be eligible to receive the Zell Miller Scholarship without consideration of the GPA or ACT/SAT requirements.

  38. Zell Miller Scholar In order to be a Zell Miller Scholar you must meet all the following requirements: • In high school you must have a HOPE GPA of a 3.7 or higher. • Your SAT score on one single test for Verbal and Math must be at least a 1200 or a composite ACT score of 26 or higher. Must take test before high school graduation • Your college HOPE GPA must be a 3.3 or above to maintain

  39. Zell Miller scholar and HOPE checkpoints/ reentry

  40. Private Sources Foundations, businesses, charitable organizations Deadlines and application procedures vary widely Begin researching private aid sources early

  41. Civic Organizations and Churches Research what is available in your community Check with your local high school counselor Application process usually in your senior year Small scholarships add up so apply!!!!!!!

  42. Employers Companies may have scholarships available to the children of employees Companies may have scholarships for their employees Example Chick-fil-a UPS and may more…..

  43. Use these tools to help you decide Your Financial aid professionals are always available to answer any questions. http://www.northgeorgia.edu/finaid/

  44. Resources for You Resources on website under New Students www.northgeorgia.edu/finaid • Presentations • Resources • Aid Summary / Glossary of terms • Application checklist • Tracking worksheet • Cost of Attendance • Award package comparison

  45. Other websites to help • NASFAA http://www.nasfaa.org/students/About_Financial_Aid.aspx • Financial aid website http://www.finaid.org/ Student Aid on the web http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp

  46. Thank you Please contact us if you need any additional assistance finaid@northgeorgia.edu 706-864-1412

More Related