Student Financial Aid Information

1. Student Financial Aid Information Photo Source: studentaid.ed.gov Provided by the Office of Student Financial Aid (OSFA) at the University of Georgia Updated: 9/06/2017

2. What is Financial Aid? • Financial Aid – any funding intended to helps students pay for post-secondary education expenses • Grants • Loans • Work Study • Scholarships • Sources of Funding: • Federal Government • State Government • Institution (College) • Private

3. Application Process - FAFSA • Free Application for Federal Student Aid • Covers Federal Grants, Federal Loans, and HOPE/Zell Scholarship • Calculates Financial Need • Uses prior prior year Federal Tax Returns • Must be renewed each academic year • Helpful Hints on application • “Professional Judgment” / “Verification” • “Deadline” / “Priority Consideration Date” • www.fafsa.gov

4. FSA ID – FSAID.ed.gov • A username & password used to log in to certain U.S. Department of Education (ED) websites.

6. When DO I COMPLETE THE FAFSA? • The FAFSA will become available as of October 1st of your senior yearin high school • and • each year you are in college.

7. Which FAFSA do I Complete? • If you will be attending college starting Fall 2018, you should complete the 2018-2019 FAFSA. • If you will be attending college starting • Summer 2018, you should complete both the • 2017-18 & 2018-19FAFSAs.

9. School Selection A student can submit his/ her FAFSA to up to 10 schools. You do not have to be admitted to a college to include the college’s school code on your FAFSA.

10. Dependency status questions

11. Who is my “Parent” when I fill out the FAFSA? • Parent means your legal (biological and/ or adoptive) parent or your stepparent. • DO NOT INCLUDE LEGAL GUARDIANSHIP INFORMATION ON THE FAFSA! • If your parents are divorced, include the income information of the parent you have lived with the most during the past 12 months. • If that parent has remarried, you must also include the stepparent’s information.

12. Link to IRS

13. Asset value – what to include on the FAFSA • The net worth of investments is the amount left over after deducting the debt from the value of the investment. • Investments include: • Real Estate (Do not include the home in which your parents live) • Trust Funds • UGMA & UTMA Accounts • Money Market Funds • Mutual Funds • Certificates of Deposit • Stocks • Bonds • Installment and land sale contracts • Educational savings accounts or plans (Ex: 529 Plans)

14. Asset Value – What Not to include • The value of life insurance plans • The value of retirement plans • The value of pension funds • Non- Education IRAs • Keogh Plans • Exception: • Distributions from retirement plans DO count as income. They appear in the AGI if taxable and in the untaxed section of the FAFSA if untaxed.

15. Confirmation Page

16. Definition of Need • Cost of Attendance (COA) • – Expected Family Contribution (EFC) • = Established Financial NEED (EFN)

17. Cost of attendance (COA) • Tuition and Fees • Books and Supplies • Room and Board (ON and OFF Campus) • Transportation • Living Expenses (Miscellaneous Expenses) • Can also include: • Loans Fees • Study Abroad Expenses • Documented Computer Costs • Dependent Care Expenses • Disability Care Expenses

19. Award Example

20. Types of Financial Aid – Federal Grants • Pell Grant • Need Based Grant • Award based on EFC • 2017-18 EFC must be 5328 or less • ONLY awarded to first Bachelors Degree students • Prorated based on enrollment hours • Maximum award at UGA for 2017-18= $5,920 per year • $2,960 Fall Semester • $2,960 Spring Semester • Minimum award for 2017-18 = $606 per year

21. Federal Grants… • Federal Supplemental Educational Opportunity Grant (FSEOG) • “Campus Based Aid” – each college may award differently • Awarded to students with “Exceptional Financial Need” • Students with lowest EFC • Priority to Pell Grant recipients • ONLY awarded to first Bachelors Degree students • Maximum award at UGA for 2017-18 = $1,000 per year • $500 per semester

22. Types of Financial Aid – Federal Loans • Federal Loans with an Annual Limit: • Subsidized • Undergraduate Students ONLY • Based on Financial Need • Federal Government pays interest in college • 2017-18 = 4.45% Fixed Interest Rate • Unsubsidized • Undergraduate and Graduate Students • Loan begins accumulating interest while in college • 2017-18 = 4.45% Fixed Interest Rate – Undergraduate

23. Annual Federal Loan Limits

24. Types of Financial Aid – Federal Work Study • “Campus Based Aid” – each college may award differently • Based on Financial Need AND availability • On-campus job – paid a salary • Flexible work schedule • “Normal Job” • Source of funding – living expenses • If NOT awarded Federal Work Study there could be other student jobs through the college • Maximum award at UGA for 2017-18 = $3,000 per year • $1,500 per semester

25. HOPE Scholarship • Academic Eligibility –To qualify while in High School • Must have a 3.0 in core classes in high school • Academic Eligibility Requirements – College • Students MUST maintain a 3.0 HOPE/Zell GPA while in college • What will HOPE Scholarship pay? • HOPE pays a “portion” of tuition at a per credit hour, up to 15 hours per semester at a public institution • Does NOT pay for Student Fees or a Book Allowance

26. Zell Miller Scholarship • Academic Eligibility Requirements – High School • Eligible High School graduate in 2007 or later, AND • Passed at least 4 rigorous courses while in high school, AND • High School HOPE GPA of 3.70, AND • 1200 SAT (Reading and Math Score) or 26 ACT in one test administration (by last day of High School = Graduation) • -OR- • HS Valedictorian or Salutatorian (HOPE eligible) • If NOT eligible out of High School = NEVER eligible

27. Zell Miller Scholarship • Academic Eligibility Requirements – College • Students MUST maintain a 3.3 HOPE/Zell GPA • What will Zell Miller Scholarship pay? • Zell pays 100% of the standard rate of tuition for the current year at a public institution • Does NOT pay for Student Fees or a Book Allowance

28. HOPE Grant • Full-time enrollment is not required, and students are not required to graduate from high school with a specific GPA, however, they are required to have a postsecondary cumulative 2.0 GPA, at certain checkpoints, in order to maintain eligibility. • This is for students pursuing designated programs of study at a technical school. • HOPE Grant pays a portion of tuition.

29. Zell Miller Grant • Full-time enrollment is not required and students are not required to graduate from high school with a specific GPA, however, a minimum 3.5 cumulative postsecondary GPA, at the end of each term, is required in order to maintain eligibility. • The first term of enrollment will be paid retroactively if the student has the required 3.5 cumulative postsecondary GPA at the end of the term. • This is for students pursuing designated programs of study at a technical school. • The Zell Miller Grant Award is the standard undergraduate tuition rate based on the school the student attends and the number of hours enrolled.

30. www.fastweb.com www.collegeboard.com www.finaid.org/scholarships https://www.careeronestop.org/toolkit/training/find-scholarships.aspx https://www.gafutures.org/scholarship-search

31. OSFA Contact Information • Address: • The University of Georgia • Office of Student Financial Aid • 220 Holmes/Hunter Academic Building • Athens, GA 30602-6114 • Phone: 706-542-6147 • Fax: 706-542-8217 • Website: http://osfa.uga.edu • Email: osfa@uga.edu • Office Hours: MON-FRI 8AM-5PM

32. Questions?