Financial Aid

1. Financial Aid Edinburg High School The Legacy of Excellence Continues.

2. Today I hope to answer the following… • What is the FAFSA? • What kinds of Financial Aid are available? • What do I need to complete the FAFSA? • When and where can I complete the FAFSA? • How do I know if my son/daughter qualifies for financial aid?

3. SCAM!!!

4. FAFSA Free Application For Federal Student Aid www.fafsa.ed.gov • Free online government application can be used for universities and colleges nation wide • Used to apply for Grants, Work Study and Loans • Funds are awarded to HS graduates upon registration of courses • Seniors 2014 will complete FAFSA on Thursday, February 13th, 2014

5. Type of Financial Aid available

6. FAFSA Process Step 1: Complete the FAFSA • We will be completing the first part of the FAFSA starting in January. • The rest of the FAFSA will be completed on FAFSA Night 2014 (February 13, 2014) Income Tax forms and W-2s will be required. • Step 2: Review your Student Aid Report • You will receive a SAR in your e-mail approximately 3-4 days after submitting your FAFSA. • Review and make any necessary corrections on your SAR or online at www.fafsa.gov. Step 3: Request a tax transcript • If you were not able to link your FAFSA to the IRS using the IRS Data Retrieval Tool, you will need to request a transcript online at www.irs.gov Step 3: Verification Form or Award Letter • Universities may require a verification form or additional documentation. Requirements differ between universities. Otherwise, the university will mail an Award letter that will include all grants, loans and/or scholarships.

7. Step 1: Complete the FAFSA Documents Required • 2013 Federal Income Tax Forms • IRS Data Retrieval System tool in the FAFSA • If not using IRS DRS, you will need to request IRS Tax Return Transcript at www.irs.gov • 2013 W-2 Forms • Child Support paid or received • Social Security/Alien Registration Numbers • Dates of Birth for parents • Marital Status Dates (Divorced, Widowed, etc.) • Balance of cash, checking, and savings accounts • Other financial documents

8. www.fafsa.ed.gov Your Text Here

9. IRS Data Retrieval Tool • The IRS Data Retrieval Tool allows students and parents to access the IRS tax return information needed to complete the Free Application for Federal Student Aid (FAFSA), and transfer the data directly into their FAFSA from the IRS Web site. • In most cases, the IRS DRT is available within 2-3 weeks after the return has been accepted by the IRS. • You may not be eligible to use the DRT tool if: The student/parent is married, and either the student/parent or his/her spouse filed as Married Filing Separately, the student/parent is married, and either the student/parent or his/her spouse filed as Head of Household, the student/parent filed an amended tax return, the student/parent filed a Puerto Rican or foreign tax return. • If you are not eligible to use the IRS DRT, you will need to request a tax transcript online at www.irs.gov or via mail using the paper request form found online also at www.irs.gov

10. Complete and mail form to IRS 2 weeks after filing or at our FAFSA Night on February 13th, 2014 Sample Request for Tax Return Transcript Janet Amaro

11. Sample Tax Return Transcript Order your Tax Return Transcript online at www.irs.gov Or print form 4506-T under “Forms and Pubs”

12. If you do not file an Income Tax, you may prepare a notarized statement of earnings.

13. Dependency Status INDEPENDENTstatus only and if: • You are 24 years of age, or • You are working on a master’s or doctorate program • You’re are married, or • You have children whom you provide more than 50% support for, or • You have dependents other than your children or spouse, or • Both parents are deceased or you are a ward/dependent of the court, or • You are currently serving on active duty for purposes other than training in the U.S. Armed Forces, or • You are a Veteran of the U.S. Armed Forces.

14. PIN Numbers • Apply for a PIN Number by visiting www.pin.ed.gov or when completing the FAFSA • PIN Numbers act as an electronic signature for your FAFSA application • Student and a parent will need to apply for pin. • PIN Numbers never expire

15. How do I know how much Financial Aid my student qualifies for? • EFC Estimated Family Contribution is calculated by all the information provided on the FAFSA. Cost of attendance $14,000 -EFC 3,000 Financial Need $11,000 The closer the EFC is to zero, the more FREE money the student will qualify for. The farther away the EFC is from zero, the less “free” money he/she will receive, therefore, going into the loan zone.

16. After you apply… Step 2: Request an tax transcript online at www.irs.gov and mail it to the university’s financial aid office. Step 3: Review your Student Aid Report SAR Step 4: Submit Verification Worksheets, if requested by university. Follow up ONE week later. • If no Verification Worksheet is required, an award letter will be sent to you. Review this letter and follow up with your university to accept or deny award.

17. Estimated Annual Cost Institution Tuition & Fees *Total Cost South Texas Community College $2,320 $10,191 Texas State Technical Institute, Harlingen $3,173 $14,536 University of Texas-Pan American $6,124 $17,641 University of Texas-San Antonio $9,004 $21,096 University of Texas, Austin $9,794 $20,072 Texas A&M University $8,480 $19,950 Texas A&M-Kingsville $6,940 $17,708 SMU $33,170 $45,570 RICE $30,486 $44,186 -Information courtesy of www.collegeforalltexans.com *includes books, room, board, transportation, personal expenses

18. Senate Bill 1528 Legislative Bill that allows students to be eligible for College Admissions and Financial Aid (State Funds) only and if the student: • Has resided in Texas three (3) consecutive years leading up to graduation, • Will reside in Texas for 12 consecutive months prior to enrollment, • Will graduate from a Public Texas High School or receive their GED • And provides a notarized statement that the student meets the above criteria and intends to apply for Permanent Residency at the earliest opportunity.

19. CSS Profile • Additional Financial Aid Document used by selective schools to award students • Application online at http://profileonline.collegeboard.com • Recommended deadline: February 1 unless otherwise stated by university

20. Important Final Thoughts… • Complete your Income Tax Return as soon as possible so that your son/daughter can complete the FAFSA on February 13, 2014. • If filing early is not available to your family, indicate that you “will file” on the FAFSA and submit it on FAFSA Night. Make corrections to FAFSA your Income Tax Return is complete. • Apply for a pin number ahead of time so there are no surprises on FAFSA Night. • Undocumented students may also complete the FAFSA on paper, but will only be eligible for State Funds. • Parent’s immigration status does not affect student eligibility.

21. Important Websites for Financial Aid and Scholarships • www.fafsa.ed.gov • www.studentaid.gov • www.collegeboard.org • www.collegeforalltexans.com • www.collegenet.net • www.scholarships.com • www.mycollegeoptions.org • www.applytexas.org

22. FAFSA Events FAFSA Night Thursday, February 13th, 2014 6:00-8:00 p.m. EHS 200’s Hallway FAFSA Fridays Fridays in February and March 8:00-12:00 p.m. Financial Aid Office *By appointment

23. Contact the Universities Judy Anzaldua South Texas College janzaldua@southtexascollege.edu 956.872.2108 Mayra Martinez University of Texas Pan-American mmartinezz53@utpa.edu 956.665.2925

24. Janet Amaro Financial Aid Officer j.amaro@ecisd.us 200’s Hallway