Presentation on theme: "Welcome to Alaska College Goal Sunday 2009"— Presentation transcript:
1 Welcome to Alaska College Goal Sunday 2009 Have this slide up while folks are arriving. Go to slide 3 and type in name of presenter.Site Coordinator: Hello everyone, my name is __________ and I’d like to welcome you to Alaska College Goal Sunday Thank you for coming today!College Goal Sunday is brought to you today by the Coalition of Alaskans Supporting Higher Education. This group is a partnership between four organizations in Alaska including:the Alaska Association of School Financial Aid Administratorsthe Alaska Commission on Postsecondary Educationthe Alaska Native Claims Settlement Act Education Consortiumand the University of Alaska Statewide system.Brought to you by the Coalition of Alaskans Supporting Higher EducationUpdated 1/6/2009 Andrea Van Ravenswaay, ACPE
2 2009 SponsorsWe’d like to acknowledge our sponsors for their support in making our event happen today:the Lumina FoundationNew Northwest BroadcastingAlaska’s Superstation, andBlockbusterBefore we get started I’d like to go over a few housekeeping items:Coloring table: for those of you who may have brought small children, there is a coloring table located ______________.Express table: If you have a question but need to leave early feel free to stop by our express table located _____________________.Restrooms: restrooms are located ________________.Survey form: Before you leave today, be sure to fill out a survey form. Your input is very important to us. As a token of our appreciation you will receive a Blockbuster gift certificate for your completed survey!Door prizes: Speaking of gifts, has everyone received a door prize ticket? We’ll be taking short breaks for door prizes -- so make sure you get a ticket if you don’t have one already.Introduce presenter: And now, I’d like to introduce you to our presenter for the day, _________________________.
3 Understanding the FAFSA Hello and welcome to our presentation on completing the Free Application for Federal Student Aid, otherwise known as the FAFSA. Our goal today is to help you complete the questions on the FAFSA so that you can go online later and enter your answers.By the end of the day you will:Know more about the FAFSA and what it’s designed to doBe prepared and know what to expect when filling it out onlineKnow how to answer some of the more confusing questions on the applicationUnderstand what happens AFTER you submit your FAFSAIn this process, we’ll provide lots of tips and suggestions for completing your FAFSA as simply and relatively painlessly as possible.Volunteers in the room, would you please raise your hands. You may notice that our volunteers have different colored t-shirts on today.Those wearing the light olive green shirts are those who are here today to help out at the registration table, setting up and breaking down.The ones in the lime green shirts are our financial aid experts who are here today to help answer your questions related to the FAFSA.If you have any question related to FAFSA just raise your hand and an expert can come help you at your table.Reminder about the Express Table: If anyone has a quick question or needs to leave early, feel free to visit our express table in the lobby.Let’s have a round of applause for all our volunteers today!
4 The FAFSAEvaluates a family’s eligibility for federal student aid programsBases financial capacity on prior yearStudents must re-apply each yearAssets may change from year to yearFirst, let’s go over what the FAFSA is designed to do. The FAFSA is used by the U.S. Dept. of Education to evaluate a family’s eligibility for federal student financial aid programs such as the Pell grant, student loans, and work-study. It doesn’t matter what type of postsecondary school you plan to attend – public or private college, community college, vocational/technical school, or university – you can, and should, complete the FAFSA.The FAFSA will look at the income and assets of students and their parents, then will provide financial assistance to those who need it most. The family’s financial situation is based on the prior year’s taxes (2008 for us today). In fact, much of the info you put on your FAFSA will come directly from your 2008 tax return.Expect to reapply each year that you are in college since your need for aid may change as the years progress. For example, as your savings for college are used up each year, you may qualify for more financial aid.It’s best to file online at It’s quick, easy, safe and gets results much faster than filing a paper FAFSA.
5 FAFSA Goals Determines Expected Family Contribution (EFC) A measure of your family’s financial strengthUsed to determine your eligibility for federal student aid during one school yearEveryone should file a FAFSANo income cutoffRequired for federal and state aidOften required for campus-based aidThe goal of the FAFSA is to determine your EFC. EFC is your expected family contribution - a measure of your family’s financial strength which is used to determine your eligibility for federal student aid during one school year. Your EFC is based on the results of your FAFSA.Everyone should file a FAFSA, regardless of income. While income is one factor, there are many other factors taken into consideration such as the size of your family and the age of your older parent. Your eligibility is determined by a complicated mathematical formula, not just your parents’ income alone.And remember, when you fill out a FAFSA, you’re automatically applying for funds from your state and possibly your school. Don’t make assumptions about what you’ll get – fill out the application and find out.
6 Timelines After January 1 of senior year State deadline: April 15 (received)Some colleges have early deadlinesCheck deadlines on college websitesDon’t wait until after admission to the schoolBest to file by mid-FebruaryYou may file your FAFSA anytime after January 1st of your senior year.The state deadline for completing your FAFSA is April 15. This is for the Alaskadvantage Education Grant. There is no separate application, all you need to do is get your FAFSA to the feds by April 15 and have at least one Alaska school listed. The state grant is only for Alaskans attending qualifying Alaskan schools.Some colleges have earlier deadlines for FAFSA, so go online to the college website or call the school to find out their deadline. Don’t wait until after you’ve applied for admission to a school.In general it’s best to file your FAFSA by mid-February.
7 www.fafsa.ed.gov File your FAFSA online Quick Easy Accurate Safe It’s quick.You will get your results as much as 3 weeks faster than a paper FAFSA.You’ll have instant access to your EFCYou can answer questions that help determine whether you will receive the ACG. The paper FAFSA doesn’t ask those questions so paper filers will have an extra step.It’s easy.Help screens are available for each question.You can get live, private help online from a FAFSA rep.Based on your answers to certain questions, the web version skips questions that don’t apply to you.It’s accurate.Fafsa online notices if you give answers that contradict each other and asks you to correct your mistakes.This makes it less likely that your application will be delayed.It’s safe.Fafsa online uses encryption which means the info you send is turned into code so that anyone attempting to access your info will not be able to read it.The official government website for is Remember that ending, “GOV” because if you go to a site that ends in .COM, you will probably be asked to pay to submit your FAFSA. If this happens then you’re at the wrong site. Remember, the first F in FAFSA stands for "free" – so use the official government website to submit your application…
8 PIN Registration Website Electronic signatureApply for federal student aidRenew FAFSAMake corrections onlineAccess your federal student aid recordsStudent needs a PINParent(s) need a PINBefore you fill out your FAFSA online, we recommend that you go to the PIN website and register for a PIN. Your PIN will be used each year to electronically apply for federal student aid and to access your Federal Student Aid records online.If you receive a PIN, you agree not to share it with anyone.Your PIN serves as your electronic signature and provides access to your personal records, so you should never give your PIN to anyone, including commercial services that offer to help you complete your FAFSA. Be sure to keep your PIN in a safe place.
9 Completing the 2009-2010 FAFSA on the Web Worksheet A line by line discussionTraditional student emphasis (straight out of high school)Anyone can file a FAFSATraditional studentsNon-traditional studentsOlder returning studentsGraduate school studentsToday we will be going through the FAFSA on the Web Worksheet.This worksheet allows you to read and complete the FAFSA questions before entering your information online. The questions are listed in the same order that they appear online.This worksheet is different than a paper FAFSA. A paper FAFSA is available for folks who may not be able to file online. Sometimes people fill out a paper FAFSA and then try to file online – don’t do this. The questions on the paper FAFSA are in a much different order than the online version, and you might get confused.Today we’ll go line by line through the FAFSA on the Web Worksheet. We will answer the questions with an emphasis on a traditional student – a student straight out of high school who is dependent on his or her parents.Remember, anyone can file a FAFSA whether they are traditional students, non-traditional, older folks returning to school, or those applying to graduate or professional school.Before we start the worksheet, let’s take a DOOR PRIZE BREAK…..
10 Section 1 Let's get started! Student information Let’s get started! Turn to page 2 of your worksheet.Section 1 will collect personal identification information about the student.Student informationLet's get started!Page 2 of FAFSA on the Web Worksheet
11 Student’s last name, SS#, & driver’s license number List student’s last name and social security number exactly as they appear on SS cardBoth will be compared through a database matchNo nicknames!List driver’s license number of studentLeave blank if you don’t have oneList your social security number and last name exactly as they appear on your Social Security card. The Department of Education will compare and match each with the Social Security Administration. If the name doesn’t match, the student will have to submit a correction, which could delay their financial aid award.A common mistake made by parents here is to write their own number or that of another child.If the student has a drivers license or state issued ID card, list it here. If not, you can leave it blank.Some people wonder why they don’t ask for date of birth and first name. It’s because that information will auto-fill on the form when you have your PIN number.SmithPage 2 of FAFSA on the Web Worksheet
12 Citizenship Are you a U.S. Citizen? Eligible noncitizen? A permanent US resident with a Permanent Resident Card (I-551)A conditional permanent resident (I-551C)The holder of an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any of the following designations: “Refugee,” “Asylum Granted,” “Parolee” (I-94 confirms paroled for a minimum of one year and status has not expired), “Victim of human trafficking,” T-Visa holder (T-1, T-2, T-3, etc.) or “Cuban-Haitian Entrant.”Neither citizen nor eligible non citizen?Submit the FAFSA anyway because you may be eligible for state or campus based aidAre you a US Citizen?Most people will mark that the student is a U.S. Citizen.If you are neither a citizen nor an eligible non-eligible citizen, you will not qualify for federal aid. However, you should still complete the FAFSA because you my be eligible for state or campus based aid.Page 2 of FAFSA on the Web Worksheet
13 Alien Registration Number If you are an eligible non-citizen, enter your 8 or 9 digit ARNPrecede an 8 digit ARN with a zeroCopy of permanent registration card might be requested by the financial aid officeU.S. Citizens should leave this blankStudents who are eligible non-citizens should enter their 8 or 9 digit Alien Registration Number here. If you have an 8 digit number, the first space should be a zero.Students who are U.S. Citizens should leave this blank.Page 2 of FAFSA on the Web Worksheet
14 Marital status (of student) Enter your marital status as of today (the day you submit your FAFSA)Enter the month/year you were married, separated, divorced, or widowedMarital status affects how income and assets are treated in the EFC calculation. Most traditional students will answer SINGLE here and leave the “month and year” question blank. Remember, this question is about the student (not any of you parents in the audience).Enter the date married, divorced, separated or widowed (if applicable).Page 2 of FAFSA on the Web Worksheet
15 Legal residence Enter your state of legal residence Enter the date you became a legal resident of your state if it was not before January 1, 2004Residency….Enter your state of legal residence which is probably AK for most of you.Enter the date you became a legal resident of your state if it was not before January 1, (… meaning, if it was after Jan 1, 2004)The form asks for your state of residence which can impact whether or not the student is considered for an in-state or out-of-state tuition status.States have varying criteria for determining residency status for the purposes of state financial aid.Note to presenter: You might want to check how you’re doing with folks. Ask them….Are there any questions at this point?How is my timing, am I going to quickly? Reminder: If anyone has private questions, feel free to flag one of our volunteers in the lime green shirts and they’ll help you at your table.AKPage 2 of FAFSA on the Web Worksheet
16 Selective ServiceIf you are male between age and are NOT registered, select “Register Me”If you are male under 18, leave blank.If you are female, leave blank.Most male students must register with Selective Service to get federal student aid. If you are a male between age 18 and 25 and are NOT registered, select “Register Me” here.If you are a male under age 18, or a female (any age), leave this blank.For anyone who might be filing a paper FAFSA later, Question 21 (which is not in this worksheet because it is not asked online) will ask if you are male or female. Don’t leave it blank! Many times females leave it blank and then get flagged by Selective Service if they don’t answer the question.Page 2 of FAFSA on the Web Worksheet
17 Federal student aid & drug conviction questions Have you ever received federal student aid? If “no” skip Q23.Have you ever been convicted for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid?Don’t count convictions that have been removed from your recordDon’t count convictions that occurred before you were 18 (unless you were tried as an adult)Have you ever received federal student aid? Answer no if you have never received federal student grants, loans or work-study. You should also answer no if you have never attended college. If you answer no to this question, skip the next question relating to drug conviction.If you have received federal student aid in the past, do not leave the drug conviction question blank.A federal law suspends eligibility for some students with drug convictions.Count only federal or state convictions that occurred while you were attending college and receiving federal student aid such as grants, loans or work-study.Don’t count convictions that have been removed from your record, or ones that occurred before you turned 18 (unless you were tried as an adult).If you answer yes, you can use an interactive worksheet when completing the FAFSA online. Based on your answers, you can determine if the conviction affects your eligibility for federal student aid.If you do have a conviction for possessing or selling illegal drugs while receiving federal student aid, you should submit your FAFSA anyway. You may be eligible for non-federal aid from state or private resources.Page 2 of FAFSA on the Web Worksheet
18 Parent’s educationIndicate the highest level of school your father and mother completedSome states and colleges offer aid based upon the level of schooling your parents have completed.Use birth parents or adoptive parentsNot foster parents or step-parentsNext are the questions about the highest level of education your parents have completed. Make sure you mark the highest level completed. For example, if your parent attended 1 or 2 years of college but did not complete a degree program, you would mark “high school” here because that is the highest level completed.Why is this important? Because additional aid may be available from a school or state if you are the first in your family to attend college.Remember to use your birth parents or adoptive parents on this question – not your foster parents or step-parents.Page 2 of FAFSA on the Web Worksheet
19 Degree or certificateWhen you begin the school year, what degree or certificate will you be working on?Indicate your most immediate degree objectiveWhen you begin the school year, what degree or certificate will you be working on?Mark the degree you intend to seek when you go off to school. Most students going to college for the first time should check the box “1st bachelor’s degree” even if you took some college classes in high school.…Turn to page 3 now.Page 2 of FAFSA on the Web Worksheet
20 Enrollment statusWhen you begin the school year, what do you expect your enrollment status to be?Most traditional students will answer “full time”If in doubt, answer “full time”When you begin the school year, what do you expect your enrollment status to be? Most traditional students will answer “full time.”A financial aid administrator will look at the student’s expected enrollment status as a factor in determining costs and financial aid eligibility. If, at a later time, the student’s enrollment status changes, the college will adjust the aid award to reflect this change, depending on the timing of the change, how much aid is available, etc.If students are unsure of their anticipated enrollment status, they should mark “Full-time.”Page 3 of FAFSA on the Web Worksheet
21 Work-study and student loans? For a complete financial aid offering, answer “both work-study and student loans”In addition to grants, are you interested in work-study or student loans? Answering “both work-study and student loans” to the question will ensure that you are presented with all the financial aid options you qualify for.The question regarding loans and work-study is often misunderstood. You might be tempted to answer “neither” to this question because you are afraid that if you are interested in loans, you won’t be offered gift aid such as grants or scholarships. That is not the case. The school will always offer you any gift aid that you qualify for, regardless of how you answer the question.However, if you select “neither” for this questions, you may not be offered loans or work-study in college even if you would have otherwise qualified for those programs. You can always choose to take a loan if you change your mind later, but the work-study programs may no longer be available.Remember, even though you may be offered loans or work-study in your financial aid package, you are under no obligation to take either.Before we start the next section, let’s take a DOOR PRIZE BREAK…..Page 3 of FAFSA on the Web Worksheet
22 Student dependency status Section 2The questions in Section 2 are used to determine whether the student is considered dependent or independent (for FAFSA filing purposes).Student dependency statusPage 3 of FAFSA on the Web Worksheet
23 Determining dependency Let’s go over each question.Were you born before January 1, 1986? (are you 24?)Are you married?Will you be working on a master’s or doctorate program? (Do you already have a Bachelor’s degree?)Are you currently serving on active duty in the US Armed Forces for purposes other than training?Are you a veteran of the US Armed Forces?Do you have children who will receive more than half of their support from you between July 1, 2009 and June 30, 2010?Do you have dependents other than your children or spouse who live with you and who receive more than half of their support from you, now and through June 30, 2010?At any time since you turned age 13, were both your parents deceased, were you in foster care or were you a dependent or ward of the court? (Meaning, are you an orphan, a foster child, or a dependent/ward of the court)?Page 3 of FAFSA on the Web Worksheet
24 Emancipated minors & legal guardianship Are you or were you and emancipated minor as determined by a court in your state of legal residence?Are you or were you in legal guardianship as determined by a court in your state of legal residence?Are you or were you and emancipated minor as determined by a court in your state of legal residence?Are you or were you in legal guardianship as determined by a court in your state of legal residence?Answer “Yes” if you can provide a copy of a court’s decision that as of today you are an emancipated minor or are in legal guardianship.Also answer “Yes” if you can provide a copy of a court’s decision that you were an emancipated minor or were in legal guardianship immediately before you reached the age of being an adult in your state. The court must be located in your state of legal residence at the time the court’s decision was issuedPage 3 of FAFSA on the Web Worksheet
25 Homeless youth questions Homeless means lacking fixed, regular and adequate housingIncludes living in shelters, motels or cars, or temporarily living with other people because you had nowhere else to go.Unaccompanied youth means you are not living in the physical custody of your parent or guardianYouth means 21 or younger, or you are still enrolled in high school as of the day you sign this applicationThe next questions will pertain to homeless youth.Homeless means lacking fixed, regular and adequate housing which includes living in shelters, motels or cars, or temporarily living with other people because you had nowhere else to go.Unaccompanied means you are not living in the physical custody of your parent or guardian.Youth means 21 or younger, or you are still enrolled in high school as of the day you sign this application.Let’s get back to the FAFSA questions now…At any time on or after July 1, 2008, did your high school or school district homeless liaison determine that you were an unaccompanied youth who was homeless?At any time on or after July 1, 2008, did the director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development determine that you were an unaccompanied youth who was homeless?At any time on or after July 1, 2008, did the director of a runaway or homeless youth basic center or transitional living program determine that you were an unaccompanied youth who was homeless or were self-supporting and at risk of being homeless?It’s important to note that “homelessness” must be documented by one of the specified officials listed in the questions above. If a student does not have a determination from one of the specified officials, but believes he or she is an unaccompanied youth who is homeless or at risk of being homeless, the student should contact the financial aid office at the school he/she plans to attend.Page 3 of FAFSA on the Web Worksheet
26 Dependent or independent student? Yes to any question = independent studentYou do not have to provide parent information in section 3Skip to section 4No to all questions = dependent studentYou must report parent information in section 3If you answered yes to any of the questions on this page, you are considered an “independent student” and you do not have to provide parent information in section 3. Independent students can skip to section 4 on page 6. If you are married, you will need to provide info on yourself and your spouse in section 4.If you answered no to all of the questions, then you are considered a “dependent student” and parents must provide information in section 3.Note: If there are special circumstances that you believe may make you independent, then you may request special consideration by submitting a letter directly to the financial aid office at the school you want to attend. Appeals are considered on a case-by-case basis and at the discretion of the individual colleges. Not all appeals are granted.For today’s purpose, we’ll assume that most of you are dependent students required to provide parent info in section 3. Let’s move on.Turn the page.Page 3 of FAFSA on the Web Worksheet
27 Independent students - skip this section In this section, questions will refer to parental information.Reminder: If you have a quick question and/or need to leave early, feel free to visit our express table in the lobby or raise your hand and someone can help you here in this room.Parental informationIndependent students - skip this sectionPage 4 of FAFSA on the Web Worksheet
28 Parents Who is a parent? Who is not a parent? Biological parents Adoptive parentsStep-parentsWho is not a parent?GrandparentsFoster parentsLegal guardiansOlder brothers or sistersAunts or unclesListen carefully to help determine who is a considered a parent in this section. Let’s look at page 4 of the worksheet. It states:“Grandparents, foster parents, and legal guardians are not considered parents on this form unless they have legally adopted you.Foster parents and/or legal guardians: If the student is in foster care or under legal guardianship, he/she is automatically considered an independent student. You may skip this parent section…..Federal law provides that under very limited special circumstances, you may submit your FAFSA without parental information. If you have a special circumstance and are unable to provide parental information, FAFSA on the Web will instruct you on how to proceed. The following are examples of some special circumstances.• Your parents are incarcerated; or• You have left home due to an abusive family environment; or• You do not know where you parents are and are unable to contact them (and you have not been adopted).”Page 4 of FAFSA on the Web Worksheet
29 Single, widowed, or divorced parents Widowed or single (never married) parent?Answer questions about that parent onlyWidowed and remarried?Answer about parent and step-parentDivorced?Answer about the parent you lived with more (plus any step-parent you live with)What about single, widowed, or divorced parents?Is your parent widowed or single, (single means never married)? Answer questions about that parent onlyIs your widowed parent remarried? Answer about your parent and step-parentAre your parents divorced? Answer about the parent you lived with more (plus any step-parent you may live with).Page 4 of FAFSA on the Web Worksheet
30 Parents’ marital status & email Indicate the marital status of your parentsInclude the month and year your parents were married, separated, divorced, or widowedExample 05/1980Enter your parents’ addressList only parents whose information you are reportingNow that we’ve defined “parent,” let’s get back to the questions.What is your parents’ marital status? Provide your parents’ marital status and the month and date they were married, separated, divorced, or widowed.For example: 05/1980Next, enter an address for your parents that will be valid at least until you start college. This is optional but recommended. Listing your parents’ will get info out to everyone much quicker.List only the information for the people you’re listing as “parents” on the FAFSA.Page 4 of FAFSA on the Web Worksheet
31 Parent identifying information Enter your father’s (or step-father’s) social security number, last name, and date of birthEnter your mother’s (or step-mother’s) social security number, last name, and date of birthIf no SS# available, enter all zeroesOnly list info on parents reporting on FAFSAEnter each parent’s social security number, last name and date of birth. Again, list only information for the people you’re listing as “parents” on the FAFSA.If for some reason your parent does not have a SS#, enter all zeroes. Leaving this blank will result in a delay of processing.Make sure you fill in parent date of birth. These are used to determine how much of a parents assets should be protected for retirement.SmithSmithPage 4 of FAFSA on the Web Worksheet
32 Parents’ state of residence List your parents’ state of legal residenceEnter the date of legal residency for the parent who has lived in the state longest, if it was after January 1, 2004Next, list the state of residence for your parents, which is probably Alaska. Also enter the date of legal residency for the parent who has lived in the state longest, if it was after January 1, 2004.AKPage 4 of FAFSA on the Web Worksheet
33 Parents’ 2008 tax returnIndicate what type of income tax return your parents filed or will file in 2008Indicate if they were eligible to file a 1040A or 1040 EZA person is not eligible to file a 1040A or 1040EZ if he or she:Makes more than $100,000Itemizes deductionsReceives income from his or her own business or farmIs self employedReceives alimonyIs required to file Schedule D for capital gainsIf you filed a 1040 only to claim Hope or Lifetime Learning tax credits, and would have otherwise been eligible for a 1040A or EZ, you should answer “YES”What income tax return did your parents file or will they file for 2008? Mark the one that applies.The next question asks your parents whether they were eligible to complete a 1040A or 1040EZ (regardless of which form they may have filed). Tax preparers often file a Form 1040 on behalf of a tax filer, even though that person's income and tax filing circumstances would allow them to file a 1040A or 1040EZ.The worksheet states that…“A person is NOT eligible to file a 1040A or 1040EZ if he or she:Makes more than $100,000Itemizes deductionsReceives income from his or her own business or farmIs self employedReceives alimonyIs required to file Schedule D for capital gainsIf you filed a 1040 only to claim Hope or Lifetime Learning tax credits, and would have otherwise been eligible for a 1040A or EZ, you should answer YES.”If you don’t know, then mark that box.Page 4 of FAFSA on the Web Worksheet
34 Parents’ federal household benefits In 2007 or 2008, did you, your parents, or anyone in your parents’ household received benefits from any of the federal benefit programs listed?Mark all that applyIndicate if you, your parents, or anyone in your parents’ household received benefits from any federal benefit program in 2007 or Check all that apply.Receiving benefits from one or more of these federal programs affects the way in which the federal processor calculates your EFC.DOOR PRIZE BREAK…..Page 4 of FAFSA on the Web Worksheet
35 Dislocated workerAs of today, is either of your parents a dislocated worker?Ok, we’re at the top of page 5 now.Is either of your parents a dislocated worker?In general, a person may be considered a dislocated worker if he or she…is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation;has been laid off or received a lay-off notice from a job;was self-employed but is now unemployed due to economic conditions or natural disaster;or is a displaced homemaker.A displaced homemaker is generally a person who previously provided unpaid services to the family (e.g., a stay-at-home mom or dad),is no longer supported by the husband or wife,is unemployed or underemployedand is having trouble finding or upgrading employment.Page 5 of FAFSA on the Web Worksheet
36 Parents’ adjusted gross income for 2008 AGI for 20081040 line 371040A line 211040EZ line 4It’s OK to estimate if you haven’t done your taxes yetReport whole dollars (no cents)If the answer is $0 or the question does not apply, enter “0”AGI for 2008 can be found on your…1040 line 371040A line 211040EZ line 4Many times, parents may not have filed their taxes yet. If this is the case, you may use 2007 taxes as an estimated income. Be sure to estimate as closely as possible.Report whole dollars – no cents. And if the answer is zero or the question does not apply, enter “0” here.For all you Alaskans, the PFD does not have to be listed here because it is should already be listed in your AGI from your taxes. If you are unsure, check your taxes to see if it was included.40,000Page 5 of FAFSA on the Web Worksheet
37 Parents’ earnings from work Enter how much each of your parents earned from working in 2008 (wages, salaries, tips)W2 formsIRS 1040 lines Box 14 of Schedule K-1 (Form 1065)1040A line 71040EZ line 1The next questions ask about your parents earnings (wages, salaries, tips, etc.) in Answer the questions whether or not a tax return was filed. This info can be found on:W2 formsIRS 1040 lines Box 14 of Schedule K-1 (Form 1065) … (If line 12 or 18 are negative numbers, then make them 0 zeroes and add line 7 and box 14 of Schedule K-1)1040A line 71040EZ line 119,00018,000Page 5 of FAFSA on the Web Worksheet
38 Parents’ income tax for 2008 Enter the amount of your parents’ income tax for 2008IRS 1040 line 561040A line 351040 EZ line 11Enter the amount of your parents’ income tax for This can be found on:IRS 1040 line 561040A line 351040 EZ line 111,100Page 5 of FAFSA on the Web Worksheet
39 Parents’ exemptions for 2008 Enter your parents’ exemptions for 20081040 line 6d1040A line 6dEnter your parents’ exemptions for This can be found on1040 line 6d1040A line 6d4Page 5 of FAFSA on the Web Worksheet
40 Parent household Your parents’ number of family members in 2009-2010 4 YourselfYour parentsYour parents’ other dependent children,if your parents provide more than half their supportor the children could answer “no” to every question in Section 2, regardless of where they liveOther 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 July 1, 2009 to June 30, 2010Enter the number of people in your parents’ household. Include yourself even if you don’t live with your parents. The number should be reported since this can impact the family’s ability to pay for college costs. This includes not only children in the household, but others living there as well. For example, grandchildren, grand parents, etc. as long as the parents are providing more than half their support.4Page 5 of FAFSA on the Web Worksheet
41 Household members attending college How many people in your parents’ household will be college students between July 1, 2009 and June 30, 2010?Always count yourselfNever include your parentsInclude other household members only if they will attend college at least half time in in a program that leads to a college degree or certificateHousehold members in college. List the number of individuals in your parents household who will be attending college. Don’t include your parents. Some colleges may require documentation of other family members attending college.1Page 5 of FAFSA on the Web Worksheet
42 Parents’ 2008 additional financial information & untaxed income Complete the left hand column on page 8 (Q94 and Q95)Go to the last page of this worksheet and complete the additional financial information and untaxed income questions under the parent column (on the left).Page 5 of FAFSA on the Web Worksheet
43 Parent asset information Report the current balance in your parents’ cash, savings, and checking accounts as of the day you complete your FAFSANow we’re going to enter information on your parents’ assetsReport the current balance in your parents’ cash, savings, and checking accounts as of the day you complete your FAFSA. If the amount is one million dollars or more, enter 999,999. If the amount is zero, enter 0.Don’t leave this blank! Be as accurate as possible because some colleges may request documentation.2,700.00Page 5 of FAFSA on the Web Worksheet
44 Net worth of parents’ investments Investments include…Real estate (other than family home)Trust fundsUGMA and UTMA accountsMoney market and mutual fundsCertificates of depositStocks and stock optionsBonds and other securitiesCoverdell savings accounts529 college savings plansThe refund value of 529 prepaid tuition plansInstallment and land sale contracts (including mortgages held)Commodities, etc.Don’t include…The value of life insuranceRetirement plansPension fundsAnnuitiesNon-education IRAsKeogh plans, etc.Cash, savings and checking accounts already reported earlierIf parents have investments, including real estate (but not the family home), list the net worth here.Types of investments are listed on the slide.Page 5 of FAFSA on the Web Worksheet
45 Net worth of parents’ business and/or investment farms Include the market value of land, machinery, equipment, and inventoryDon’t 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 employeesIf parents have a net worth associated with a business or investment farm (not family farm), it should be listed here.Business and/or Investment Farm value includes the market value of land, buildings, machinery, equipment, and inventory. Debt means only those debts for which the business/investment farm was used as collateral.Remember, parents should not report assets such as the family home, the value of any life insurance, or the value of a family owned and controlled small business with 100 or fewer full-time or full-time equivalent employees. And, most importantly, they do not report any accumulated funds in retirement accounts, such as Roth or traditional IRA’s, pension funds, KEOGH, 401K, 403B, or other plans.If a college or university wants information about any of these assets, they will ask the student to send that information directly to the school.DOOR PRIZE BREAK…..Page 5 of FAFSA on the Web Worksheet
46 Section 4 Student finances Turn to page 6 of the worksheet. These questions are identical to the parent financial questions we covered in Section 3 and we will not go into much detail.In Section 4, you (the student) will:Report your 2008 incomeIf you are single, ignore references to “spouse”If you are married, report spouse’s income and assetsStudent financesPage 6 of FAFSA on the Web Worksheet
47 Student tax return questions If you – the student- have completed or will complete a tax return for 2008, you’ll have to answer a few questions here. If you have not filed your taxes yet and plan to submit an estimated return, you may use 2007 income along with year to date earnings. Estimate as closely as possible! Sometimes schools will request a copy of the tax return after it is completed for verification and any discrepancies could affect your financial aid award.In many instances, a dependent student going to college for the first time will not complete a tax return but will rely instead on their parents’ return. If you don’t plan to file a return, you should skip the associated questions.If you plan to file a return, indicate the type of return it will be, as well as whether or not you were eligible for a 1040 A or 1040 EZ (most traditional students are eligible).If you’ve done the preparatory work (such as gathering all your tax info) the rest of the questions are pretty straightforward and fill-in-the-blank tasks. In fact, the FAFSA tells you exactly what lines need to be entered in the corresponding spaces.An important reminder for all you Alaska residents: The PFD is something that should already be included in your AGI when you file taxes. You won’t need to list it elsewhere on the form (which is a very common mistake). Check your IRS form to see if it was listed.Page 6 of FAFSA on the Web Worksheet
48 Veterans’ education benefits Indicate which veterans’ education benefits you will receive inFor more information, contact the VA atWhat type of veterans’ benefits will you receive in ? Mark all that apply. If none, leave blank.Students should NOT include their spouse’s veterans’ education benefits (if applicable).For more information on veterans’ education benefits visit their website at or call their toll free number atPage 6 of FAFSA on the Web Worksheet
49 Student household & number in college List the number of family members in the student’s householdList the number of family members attending college inWill not apply to traditional studentsStudent household and number in college will not apply to traditional students. Dependent students – skip this step.dependent studentsskip this stepPage 6 of FAFSA on the Web Worksheet
50 Student household benefits Indicate which benefits anyone in your household received in 2007 or 2008Will not apply to traditional studentsStudent household benefits will not apply to traditional students.dependent studentsskip this stepPage 6 of FAFSA on the Web Worksheet
51 dependent students skip this step Dislocated worker?Indicate if you or your spouse is a dislocated workerWill not apply to traditional studentThis will not apply to traditional students.dependent studentsskip this stepPage 6 of FAFSA on the Web Worksheet
52 Student income tax & exemptions List your (and your spouse’s) income tax for 2008Enter your (and your spouse’s) exemptions for 2008Turn to page 7 – student finances continued.Student income tax and exemptions. These questions often don’t apply to traditional students.However, if you did file taxes, then list your amounts here.dependent studentsskip this stepPage 7 of FAFSA on the Web Worksheet
53 Student’s 2008 additional financial info & untaxed income Complete the right hand column on page 8 (Q46 and Q 47)Go to page 8 and complete the questions in the right hand column.Page 7 of FAFSA on the Web Worksheet
54 Student assetsEnter student’s total cash, savings and checking account balanceStudent’s investmentsNet worth of student’s business and/or investment farms (not family farms)List the amount of money you have in cash as well as in your checking and savings accounts. Make sure you indicate the amounts as of the day you submit your FAFSA.If you, the student, have investments – list the net worth here. Net worth means current value minus debt.Few traditional students have a net worth associated with a business or investment farm. Just enter $0 if it doesn’t apply.3,245.00Page 7 of FAFSA on the Web Worksheet
55 Colleges to receive information Section 5We’re still on page 7 and we’re almost done!In this final section you’ll list the schools that you would like for your FAFSA results to be sent to.Colleges to receive informationWe're almost done!Page 7 of FAFSA on the Web Worksheet
56 Federal school codes & housing plans Enter federal school codes for up to 10 schoolsEnter your housing plan for each schoolIndicate the school or schools that you want to receive your FAFSA results. You may list up to 10 schools. If you want to list more than ten schools, you can do so later.Federal school codes are available on school websites, or you can find them on the FAFSA website when you complete this section online. Be careful with school codes since some colleges have many campuses, like the University of Alaska system. Be sure you get the right code for the right school.Also, indicate your housing plan for each school. Most students will live “on campus” or “with parent.”Page 7 of FAFSA on the Web Worksheet
57 www.fafsa.ed.gov Congratulations! You’ve completed the FAFSA on the Web WorksheetRemember – do not mail the worksheet we completed todayGo to and enter information with this worksheetSave often!Use your PIN to sign and submit electronicallyOr print out a signature page, sign it, and mail itCongratulations everyone - we’ve completed the FAFSA! Take a deep breath and let it all out – we’re done.Your next step will be to go online and enter your answers. Save often – this will prevent accidental deletions. You don’t have to do the whole thing in one sitting; you can fill some answers in, save, close and return to it later. When you are complete, you will use your PIN to sign and submit your FAFSA electronically.If for some reason you don’t want to submit it electronically, you can still fill the form out online, print out the signature page, sign it and mail it in.Remember, do NOT mail the worksheet we did today!Ok, time for a some more DOOR PRIZES!
58 Student Aid Report Other documentation Award letters Tips for Success After filingThis last part of our presentation will focus on what to expect after filing your FAFSA. We’ll go briefly over the Student Aid Report, other documents you may need to submit, and award letters. Then we’ll end with some final door prizes.Student Aid ReportOther documentationAward lettersTips for Success
59 Student Aid Report (SAR) SAR sent to student within 3 weeksReview it for accuracyReport any changesSAR sent to schools listed on FAFSASchool will use EFC to determine your financial needSchool sends award letter to student or requests additional infoYou can expect to receive your Student Aid Report within three weeks of filing. If you provide a valid address, you’ll receive your SAR via . If not, then you’ll receive it in the mail.Review your SAR for accuracy. If there are any discrepancies on the form, contact the school(s) you plan to attend right away. Remember, the school is using your FAFSA information (your EFC) to establish eligibility for financial aid, so it’s important that any special circumstances be communicated and documented with the school. Shortly after you receive your SAR, the school will send an award letter. This letter lists the types of aid you are eligible for, along with any additional paperwork required.
60 Finding your EFC Expected Family Contribution Located in upper right hand corner of SARIf you look carefully at the SAR, you’ll be able to find your EFC in the upper right hand corner. The number represents a dollar amount, even though it is not preceded by a dollar sign.Don’t get worried if the amount looks incredibly high. There are some financial aid programs to help families meet the expected family contribution if they don’t have funds readily available.
61 Other forms Some schools require additional paperwork CSS Financial Aid PROFILECampus scholarship applicationAsk what forms the college requires!While the FAFSA gets the process started, you may be required to submit additional paperwork depending on the school you want to attend.One example is the CSS Financial Aid PROFILE which is used by many schools to help determine your eligibility for non-federal aid. These may be private funds that the school or certain scholarship agencies may have available for their students.The CSS Profile takes into account more detailed income and expense info than the FAFSA. Things like the income and assets of non-custodial parents, medical expenses impacting the family, and tuition expenses of family members at private K-12 schools.Costs: there are costs associated with filing the profile:$25.00 for the initial application and 1 school or program report$16.00 for each additional school or program reportMore information on the CSS Financial Aid PROFILE is available atThe college you plan to attend may require internal forms as well since some offer grants, scholarships, or other funds provided by alumni, donors, and trusts.It’s always a good idea to call the school you plan to attend to find out what paperwork is required to receive financial aid.
62 Award letters Schools send their award letters to students Award letter shows the amount of financial aid you will receive at their schoolAward might include…GrantsScholarshipsWork-studyLoansOnce you complete all the necessary paperwork, you should receive an award letter from each school. The award letter lists the types of financial aid you qualify for at their school. This might include scholarships, grants, work-study, and student loans.Grants and scholarships are “gift aid” and do not have to be repaid.Work study is a program that offers needy college students part-time campus or community service jobs.A loan is money that you borrow and must re-pay with interest.It’s important to note that you are not under any obligation to accept all or any portion of the award offered. For example, a school may offer you a loan, but you may opt to work part time or use savings to avoid taking on debt for college.
63 Verification Save copies of documents you used to complete your FAFSA Be prepared to provide additional information that confirms the data you reported on your FAFSAColleges verify 30% of all applicantsAfter filing your FAFSA, keep a copy of all the documents you used to complete the form because you may be contacted for verification.Verification is a process where your school confirms the data reported on your FAFSA. Your school has the authority to contact you for documentation that supports income and other information that you reported.Colleges verify 30% of all applicants.
64 800-4-FED-AID For more information 800-433-3243 Contact the school you plan to attendContact Federal Student Aid at:800-4-FED-AIDFor more information, feel free to ask any of our volunteers in the lime green shirts today.If you have questions later, it’s a good idea to contact the school you plan to attend, or visit the federal student aid website listed on the screen (www.federalstudentaid.ed.gov).If you’d rather speak to someone about a question, you can call the 800 number listed here. (800-4-FED-AID or ).
65 ~ Please fill out a survey before you leave ~ Thank you for coming!~ Please fill out a survey before you leave ~Thank you for attending College Goal Sunday today and also a special thank you to all our sponsors.Please remember to fill out your Survey Form before you leave! Your feedback is very important to us and helps us to improve our services for next year.Now let’s do our FINAL DOOR PRIZES…..