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Applying for Financial Aid 2011-2012

Applying for Financial Aid 2011-2012. Presented by: The East Bay Cash for College Coalition Presenter:. Cash for College $1,000 Scholarship Evaluation. Complete and turn in the Student Evaluation BEFORE you leave! Location and Date Write Clearly! Scholarship Rules on pg 2

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Applying for Financial Aid 2011-2012

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  1. Applying for Financial Aid 2011-2012 Presented by: The East Bay Cash for College Coalition Presenter:

  2. Cash for College $1,000 ScholarshipEvaluation • Complete and turn in the Student Evaluation BEFORE you leave! • Location and Date • Write Clearly! • Scholarship Rules on pg 2 • Must submit your FAFSA and Cal Grant GPA by March 2nd • Winner will be chosen after March 2nd and announced by your counselor or by a letter mailed to the address provided. 2

  3. 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

  4. How Does Financial Aid Work? • Colleges determine and offer their students financial aid based on the following equation. Also known as “Need Analysis.” Cost of Attendance (COA) • Expected Family Contribution (EFC) • Financial NEED(Financial Aid Eligibility) 4

  5. 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 • 2010 federal tax returns (along with all schedules and W-2s) or other income documentation

  6. Check with your high school or college counselor for more details on how to file the Cal Grant GPA Verification Form 2011-2012 Cal Grant Application Requirements • By March 2, 2011, complete and submit: Free Application for Federal Student Aid (FAFSA) Cal Grant GPA Verification Form

  7. if the student is applying to any California public college or university, check to see if he/she might be eligible for in-state tuition/fee costs check with colleges and universities to see if institutional financial aid is available apply for all private scholarships for which the student may be eligible watch for changes in federal and state laws regarding the eligibility of undocumented or under-documented students start inquiring in elementary, middle or high school to see if it is possiblefor younger students to become permanent residents Undocumented Students NOTE: if the student is undocumented • For more information and a list of scholarships, go to • http://www.maldef.org/leadership/scholarships/2010_Scholarship_List.pdf www.latinocollegedollars.org www.finaid.org/otheraid/undocumented.phtml

  8. File early, but no later than March 2, 2011 Check financial aid deadlines with each college/university Use estimated 2010 income information if taxes are not complete at time of FAFSA submission FAFSA Information & Tips

  9. 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 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

  10. FAFSA on the Web Worksheet The 2011-2012 FAFSA on the Web Worksheet may be used for the January 1, 2011 through June 30, 2012 federal aid application cycle

  11. Section 1 Student Name & Social Security # SUSAN JONES 123 – 45 – 6789 • Double check the student’s Name and Social Security Number when entering it on the FOTW. • Must appear exactly as shown on Social Security Card. Both student name and Social Security Number will be compared through a database match.

  12. If U.S. citizen, status will be confirmed by Social Security match If eligible noncitizen, status will be confirmed by Department of Homeland Security (DHS) match. This includes: U.S. permanent residents with I-551 Conditional permanent residents with I-551C Eligible noncitizens with I-94 If neither a citizen or eligible noncitizen, the student is ineligible for federal/state aid, but might still be eligible for institutional funds Section 1 Citizenship Status

  13. Section 1Selective 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

  14. Section 1 High School Question An important question NOT on the Worksheet: • High School Question • Enter the name, city and state location of the school the student attends • Mark “Confirm” to retrieve the high school information • The student will select the school attended from the list provided • If no matches are found, the student should select “Next” to save the search information and continue with the FOTW application

  15. FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information List a California college or university (for Cal Grant consideration) List those schools with the earliest financial aid deadlines If the student is applying to more than ten schools, wait for the processed Student Aid Report (SAR) and add additional schools via the Web or by phone using the student PIN Section 1School Selection An important question NOT on the Worksheet: NOTE: Each UC and CSU campus must be listed separately

  16. Section 2Determination of Student Dependency Status • If any one of the items in this section applies to the student, he/she should mark the appropriate box, skip Section 3, and go to Section 4. The student is considered an independent student for FAFSA filing purposes and is NOT required to provide parental information

  17. See Page 3 of FAFSA on the Web Worksheet about 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 3Parent Information

  18. Section 3 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 • Names • Dates of birth • If the parents do not have a social security number enter all zero’s (000-00-0000)

  19. Section 3Parent Information • 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 2010 federal tax return, use W-2 forms and/or other employment records - such as final 2010 pay check stubs - to estimate total income • Remember, rather than miss any filing deadline, use estimated 2010 income information 0 (no cents) 12,356

  20. Section 3Parents’ Tax Return Filing Status for 2010 • The student will be asked to provide information about parent tax filing status for 2010: • If his/her parents have completed a 2010 federal income tax return, mark the first box • If they have not as yet filed, but plan to file a 2010 federal income tax return, mark the second box • If the have not, nor will not, file a 2010 federal in tax return and are not required to do so, mark the third box

  21. NOTE: Some financial aid offices may request supporting documentation for the answers to these questions Section 3Parent Asset Information • Parents may be asked to report their assets. If so: • List the net value of your parents’ assets as of the day you complete the FAFSA • If net worth is one million dollars or more, enter • If net worth is zero, enter 0 999,999 999,999 0

  22. Section 3 IRS Data Retrieval An important question NOT on the Worksheet • If you are filing the FOTW after 1/30/2011, you will find a question in the parent section that asks: • For 2010, have your parents completed their IRS income tax return? • If parent(s) answer “Already completed,” they will be given the option to transfer their 2010 income tax information directly from IRS records • If you are filing the FAFSA within 6-8 weeks of having filed your tax return, you should ignore this question and use your actual 2010 IRS tax return to complete the FOTW so you do not miss any important financial aid deadlines. 22

  23. Section 4Student Information • Questions in Section 4 are identical to the parent financial questions we covered in Section 3 • If the student is single, ignore references to “spouse” • If the student is married, also report spouse’s income and assets • The questions in Section 4 ask: • Which 2010 federal tax return the student filed or will file • The student’s 2010 Adjusted Gross Income, if filing a tax return, and earnings from work as well as untaxed income and assets

  24. DO NOT MAIL THIS WORKSHEET 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

  25. 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) webgrants4students.org 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?

  26. Submit all required forms, including the FAFSA, by each college’s published deadlines (but no later than March 2) By March 2, submit a Cal Grant GPA Verification Form Keep a copy of all forms submitted Review the electronic Student Aid Report (SAR) Acknowledgement or the paper SAR sent to the student Review the California Aid Report (CAR) Watch for financial aid award notifications from colleges to which the student has been admitted Be sure to apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible ASK QUESTIONS! Summary of the Financial Aid Process

  27. Questions and Answers

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