1. Communications Update 2015 Highlights Aaron Wyatt & Emily Persky| Council Meeting| August 2015 Financial Aid: What’s New and What You Need to Know! Sarah Weiss Associate Director for College Access and Support SarahWe@wsac.wa.gov

2. Our Mission: About Us Washington Student Achievement Council2 We advance educational opportunities and attainment in Washington. In pursuit of our mission, the Washington Student Achievement Council: Leads statewide strategic planning to improve educational coordination and transitions. Supports Washingtonians through the administration of financial aid, a college savings plan, and support services. Advocates for the economic, social, and civic benefits of postsecondary education.

3. Terminology – Financial Aid is an Umbrella Grants: income-based, federal and state. Scholarships: merit and income-based, from public, private, and nonprofit sources. Loans: income-based, federal and private. Work Study: income-based, federal and state. Washington Student Achievement Council3

4. Terminology EFC Expected Family Contribution COA Cost of Attendance FSA ID Federal Student Aid ID (username and password) SAR Student Aid Report DependencyVerification Washington Student Achievement Council4

5. Expected Family Contribution (EFC) Information reported on the FAFSA is used to calculate Expected Family Contribution (EFC), which schools use to determine federal student aid eligibility and financial aid award amount. EFC takes into account: Parents’ income and assets Student’s income and assets Family size Number of family members in college Protection allowances Washington Student Achievement Council5

6. FAFSA Free Application for Federal Student Aid FAFSA.gov WASFA Washington Application for State Financial Aid Readysetgrad.org/wasfa Starting with the Basics: Rule of 1 Washington Student Achievement Council6

7. Eligibility for Federal Student Aid To be eligible for federal financial aid, a student must: Have financial need. Be a U.S. citizen or eligible non-citizen for most programs, and have a valid Social Security Number (SSN). Note: Students who received an SSN through Deferred Action for Childhood Arrivals (DACA) are not eligible to receive federal student aid but can receive some Washington state financial aid. Make satisfactory academic progress (SAP), as defined by the college. Not be in default on a student loan or in repayment of grant funds at any college. Washington Student Achievement Council7

8. Applying for WASFA Students who meet residency requirements should complete a Washington Application for State Financial Aid (WASFA) instead of a FAFSA. The WASFA can be found at ReadySetGrad.org/WASFA. Students can currently use the site for the 2015-16 application. Beginning in October, the 2016-17 application will be available. Washington Student Achievement Council8

9. Washington State Financial Aid Programs

10. There are currently 67 colleges, universities, and other institutions participating in state aid programs. The Legislature created the College Bound Scholarship (CBS) program in 2007. 73,000 students received CBS or SNG funding totaling $335 million in 2014-15. However, during the same time period, another 27,000 eligible students did not receive SNG funding. College Bound & State Need Grant Since 1969, Washington State has assisted low-income residents with State Need Grant (SNG). Washington Student Achievement Council10

11. College Bound Scholarship (CBS) In middle school, eligible students pledge to: Graduate with a cumulative high school GPA of 2.0. Be a good citizen and not be convicted of a felony. Apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA) during senior year of high school. College Bound provides an early promise of financial aid to middle school students from low-income families. Washington Student Achievement Council11

12. State’s largest financial aid program Over 70,100 recipients in 2014-15 Over 27,000 left unserved; enrollments outpaced funding 67 institutions participate in State Need Grant State Need Grant (SNG) Washington Student Achievement Council12

13. Family income cap set at 70% of median family income. ($58,500 for family of four in 2014-15.) Resident undergraduate attending one of 67 participating institutions. Meets academic progress and other requirements: ▪ Completes the credits at the award level with minimum GPA. ▪ Does not owe repayment to any aid program. Maximum five years of award. ▪ 125% of program length. ▪ May not receive second associate degree. SNG Student Eligibility Washington Student Achievement Council13

14. Maximum award is based on public tuition, some fees, and a book allowance (from $4,300 to $11,900 ). College Bound fills the gap between other state aid and the maximum CBS award amount. Aid administrators determine award amount based on state policies. Other state aid received, enrollment level, and remaining need affect the amount. State Need Grant Passport to College Opportunity Scholarship SBCTC Opportunity Grant Financial Aid Packaging: CBS Awards Vary Washington Student Achievement Council14

15. Other Financial Aid Programs State Work-Study (WA) Passport to College (WA) theWashboard.org (WA) Pell Grant (Federal) Federal Work-Study (Federal) Student/Parent Loans (Federal) Washington Student Achievement Council15

16. College Applications & Financial Aid Timeline 2017-18 college and financial aid processes are…

17. Timeline: 2017-18 FAFSA available October 1, 2016 (will coincide with admissions applications) Uses 2015 taxes (same as 2016-17 FAFSA) WASFA will follow same timing Great resource: studentaid.ed.gov/sa/about/announcements/fafsa-changesstudentaid.ed.gov/sa/about/announcements/fafsa-changes Washington Student Achievement Council17

18. If you are feeling a little like …

19. College Application Campaign College Goal Washington FAFSA Completion Initiative 12th Year Campaign is here to help! Bit.do/12thyearform Washington Student Achievement Council19

20. What’s Important About October? What’s important about October?

21. Background: First Lady’s Reach Higher Initiative and FAFSA Completion Challenge. Publically available aggregate FAFSA filing data: bit.do/FAFSACompletionData ESD Completion Map: bit.do/WA-FAFSA-Completion Training manual and webinar provided along with easily accessible customer service! The FAFSA Completion Initiative allows participating districts access to student- specific FAFSA completion information for their students. This data allows FAFSA completion intervention at the school level. FAFSA Completion Initiative Washington Student Achievement Council21

22. FAFSA Completion Initiative – Data!

24. Online: www.wsac.wa.gov www.readysetgrad.org www.thewashboard.org www.get.wa.gov On Twitter: @WSACouncil @Ready_Set_Grad @SarahRuthWeiss On Facebook: www.facebook.com/WSACouncil www.facebook.com/ReadySetGrad Contact Us finaid@wsac.wa.gov 888-535-0747 Continue the Conversation Washington Student Achievement Council24