Welcome to Alaska College Goal Sunday 2008

1. Welcome to Alaska College Goal Sunday 2008 Presenter: Enter Your Name Here Updated 2/1/08 Andrea Van Ravenswaay

2. 2008 Sponsors

3. Understanding the FAFSA Free Application for Federal Student Aid

4. The FAFSA • Evaluates a family’s eligibility for federal financial aid programs (such as Pell grants, student loans and work study) • Bases financial capacity on prior year • Students reapply each year • Income and assets may change • File online at: www.fafsa.ed.gov

5. FAFSA Goals • Determines expected family contribution (EFC) • EFC measures your family's financial strength • EFC is used to determine your eligibility for federal student aid during one school year • Everyone should file a FAFSA • No income cutoff • Required for federal and state aid • Often required for campus-based aid

6. Timelines • Apply after January 1 of senior year • State deadline is April 15 (received) • Some colleges have earlier deadlines • Check deadlines on college websites • Don’t wait until after admission • Best to file by mid-February

7. Online recommended Faster and easier Built in edits prevent costly errors Help available online FAFSA Website www.fafsa.ed.gov

8. PIN Website • Student needs a PIN • Parent(s) need a PIN • Sign electronically • Submit FAFSA • Renewal FAFSA • Corrections on the Web www.pin.ed.gov

9. Completing the FAFSA on the Web Worksheet • A line-by-line discussion • Traditional student emphasis • Remember: anyone can file a FAFSA • Traditional students – straight out of high school • Non-traditional students • Older returning students • Graduate school students • Let’s get started!

10. Section 1 STUDENT INFORMATION Turn to page 2 of worksheet

11. 5 7 4 1 1 1 1 1 1 Smith 12345678 Social Security Number, last name and drivers license • List Social Security Number and last name exactly as they appear on your Social Security card • Both will be compared through a database match process • Driver’s license is optional – leave blank if you don’t have one

12. Citizenship • Are you a US citizen? • Eligible non-citizen? • Not a citizen or eligible non-citizen? • You should still complete the FAFSA • It’s also used to determine other aid

13. Alien registration number • If eligible non-citizen, write in your eight or nine digit Alien Registration Number (ARN) • Precede an eight digit ARN with a zero • Copy of Permanent Registration Card might be requested by the financial aid office 0 1 2 3 4 5 6 7 8

14. Marital status • Enter your marital status as of today • Month/year you were married, separated, divorced or widowed

15. Residency • Residency relates to your permanent home state • Determines eligibility for state grant • Did you become a legal resident of your state before January 1, 2003? • If not, when did you become a legal resident of your state? AK

16. Selective Service • Most male students must register to get federal aid • If male and not registered, select “yes” and Selective Service will register you • If female, answer “no” to avoid being matched with Selective Service • If male under 18, leave blank

17. Degree or certificate • What degree or certificate will you be working on in 2008-2009? • Indicate your most immediate degree objective • What will be your grade level in 2008-2009?

18. Enrollment status • At the start of the 2008-2009 school year, what do you expect your enrollment status to be? • If in doubt, report full time

19. Types of student aid • What types of student aid interest you? • Work study? Student loans? • For a complete financial aid offering, answer “Both work-study and student loans” Turn to page 3 of worksheet

20. Bachelor’s degree • Will you have your first bachelor’s degree before July 1, 2008? • NO

21. Parent’s education • Indicate highest level of school your father and mother completed • First in family to attend college may qualify for additional aid • Use birth parents or adoptive parents • Don’t use stepparents or foster parents

22. Drug conviction question • Do not count convictions that have been removed from your record • Do not count convictions that occurred before you turned 18 (unless you were tried as an adult) Do Not Leave Blank!

23. Section 2 Student Dependency Status

24. Student dependency status

25. Determining dependency • If you answer “no” to all questions in this section, you are considered a dependent student and are required to provide parental information • If you answer “yes” to any question in this section, you are considered an independent student and are not required to provide parental information

26. Section 3 Parental Information Turn to page 4 of worksheet Independent students - skip this section

27. Who is a parent? • Biological or adoptive parent(s) • Step-parent (regardless of prenup) • Grandparents, legal guardians and foster parents are NOT considered parents

28. Parents’ marital status • Indicate marital status of your parents • Month/year parents were married, separated, divorced or widowed • Example 05/1995 1 0 1 9 7 5

29. Parents’ email (optional) • Fill in your parents’ e-mail address that will be valid at least until you start college • List only the parents whose info you are reporting parents@yahoo.com

30. Parent identifying information • Enter your father or stepfather’s SS#, last name and date of birth • Enter your mother or stepmother’s SS#, last name and date of birth • Only list info of parents reporting on FAFSA 5 7 4 1 1 1 1 1 1 Smith 1 0 1 2 1 9 5 0 0 0 0 0 0 0 0 0 0 Smith 1 1 1 2 1 9 5 0

31. Parents’ State of Residence • Parents’ state of legal residence • Legal residents before January 1, 2003? • If not, give month/year legal residency began for parent who has lived in the state the longest AK

32. Parents’ 2007 tax return information • Indicate if your parents have already completed, will file, or will not file their 2007 taxes • Indicate type of income tax return your parents filed or will file in 2007

33. Were parents eligible to file a 1040A or EZ? • Your parents are eligible to file a 1040A or 1040EZ if they: • make less than $100,000 and • do not itemize deductions and • do not earn any income from self-employment from a business or farm and • do not receive alimony and • have no capital gains requiring Schedule D filing

34. Parents’ household federal benefits • Indicate if you, your parents, or anyone in your parents’ household received benefits from any of the federal programs listed below during 2007 (check all that apply) Turn to page 5 of worksheet

35. Adjusted gross income • AGI for 2007 • 1040 line 37 • 1040A line 21 • 1040EZ line 4 • OK to estimate if you have not completed your taxes • Report whole dollars (no cents) • Reminder: If the answer is zero or the question does not apply, enter 0 58,400

36. 24,000 25,000 Earnings from working • Wages, salaries, tips, combat pay, etc. • Answer this question whether or not your parents filed a tax return. • 1040 lines 7+12+18+Box14 of IRS Schedule K-1 (form 1065) • 1040A line 7 • 1040EZ line 1 • Don’t list PFD here, it’s already listed in AGI in your taxes

37. Parent income information • Enter amount of tax paid (or to be paid) for 2007 • 1040 line 57 • 1040A line 35 • 1040EZ line 10 • Not the amount withheld from your parents’ paychecks 3,200

38. Parents’ exemptions • Enter parents’ exemptions for 2007 – can be found on IRS Tax Return • 1040 line 6d • 1040A line 6d 4

39. Parents’ household • Number in parents’ household • Yourself • Your parents • Your parents’ other dependent children, • if your parents provide more than half their support • or the children could answer “no” to every question in Section 2, regardless of where they live • Other people, • if they now live with your parents, • and if your parents provide more than half their support, • and will continue to provide that level of support from 7/1/08 through 6/30/09 4

40. Family members attending college • Always include yourself even if you will attend college less than half-time • Never include your parents • Include other household members only if they will attend at least half time in 2008-2009 in a program that leads to a college degree or certificate 2

41. Parent FAFSA worksheets A, B and C • Worksheets are on page 8 • Enter totals from worksheets A, B and C here • Enter $0 if does not apply 0 0 0

42. Parent cash, savings and checking accounts • Report the current balance of your parents’ cash, checking and/or savings accounts as of the day you complete the FAFSA 8,555

43. Net worth means current value minus debt. Investments include: real estate (other than parents’ home) trust funds UGMA and UTMA accounts money market and mutual funds certificates of deposit stocks and stock options bonds and other securities Coverdell Plans 529 plans owned by your parents installment and land sale contracts commodities, etc. Parents’ Investments 5,000

44. Parent Business and/or Investment Farm • Business/Investment Farm includes: • market value of land, buildings, machinery, equipment, and inventory. Debt means only those debts for which the business was used as collateral • DO NOT include the home you live in, the value of life insurance and parent retirement plans (pension funds, annuities, non-education IRAs, Keogh plans, etc), or the value of a family owned and controlled small business with 100 or fewer full-time or full-time equivalent employees 0

45. Section 4 Student Finances Turn to page 6 of worksheet

46. Student finances

47. Student veteran’s benefits • If you are eligible for veterans’ education benefits, report monthly amount expected. (If not applicable, answer zero) • Number of months should equal number of months attending school. (If not applicable, answer zero) • For more information, contact the VA at: (800) 827-1000 or www.va.gov 00 0

48. Income tax and exemptions • Won’t apply to traditional students • List your (and your spouse’s) income tax for 2007 • Enter your (and your spouse’s) exemptions for 2007 Dependent Students SKIP THIS STEP

49. Student Household & Number in College • Traditional students should skip this Dependent Students SKIP THIS STEP

50. Student household federal benefits • Traditional students should skip this • Indicate if you, your spouse, or anyone in your household received benefits from any of the federal programs listed during 2007 • Check all that apply Dependent Students SKIP THIS STEP Turn to page 7 of worksheet