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1 Welcome to Alaska College Goal Sunday 2009 Brought to you by the Coalition of Alaskans Supporting Higher Education Updated 1/6/2009 Andrea Van Ravenswaay,

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Presentation on theme: "1 Welcome to Alaska College Goal Sunday 2009 Brought to you by the Coalition of Alaskans Supporting Higher Education Updated 1/6/2009 Andrea Van Ravenswaay,"— Presentation transcript:

1 1 Welcome to Alaska College Goal Sunday 2009 Brought to you by the Coalition of Alaskans Supporting Higher Education Updated 1/6/2009 Andrea Van Ravenswaay, ACPE

2 Sponsors

3 3 Understanding the FAFSA

4 4 The FAFSA Evaluates a family’s eligibility for federal student aid programs Bases financial capacity on prior year Students must re-apply each year Assets may change from year to year

5 5 FAFSA Goals Determines Expected Family Contribution (EFC) A measure of your family’s financial strength Used to determine your eligibility for federal student aid during one school year Everyone should file a FAFSA No income cutoff Required for federal and state aid Often required for campus-based aid

6 6 Timelines After January 1 of senior year State deadline: April 15 (received) Some colleges have early deadlines Check deadlines on college websites Don’t wait until after admission to the school Best to file by mid-February

7 7 File your FAFSA online Quick Easy Accurate Safe

8 8 PIN Registration Website Electronic signature Apply for federal student aid Renew FAFSA Make corrections online Access your federal student aid records Student needs a PIN Parent(s) need a PIN

9 9 Completing the FAFSA on the Web Worksheet A line by line discussion Traditional student emphasis (straight out of high school) Anyone can file a FAFSA Traditional students Non-traditional students Older returning students Graduate school students

10 10 Section 1 Student information Page 2 of FAFSA on the Web Worksheet

11 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 card Both will be compared through a database match No nicknames! List driver’s license number of student Leave blank if you don’t have one Page 2 of FAFSA on the Web Worksheet Smith

12 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 aid Page 2 of FAFSA on the Web Worksheet

13 13 Alien Registration Number If you are an eligible non-citizen, enter your 8 or 9 digit ARN Precede an 8 digit ARN with a zero Copy of permanent registration card might be requested by the financial aid office U.S. Citizens should leave this blank Page 2 of FAFSA on the Web Worksheet

14 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 widowed Page 2 of FAFSA on the Web Worksheet

15 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, 2004 Page 2 of FAFSA on the Web Worksheet AK

16 16 Selective Service If 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. Page 2 of FAFSA on the Web Worksheet

17 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 record Don’t count convictions that occurred before you were 18 (unless you were tried as an adult) Page 2 of FAFSA on the Web Worksheet

18 18 Parent’s education Indicate the highest level of school your father and mother completed Some states and colleges offer aid based upon the level of schooling your parents have completed. Use birth parents or adoptive parents Not foster parents or step-parents Page 2 of FAFSA on the Web Worksheet

19 19 Degree or certificate When you begin the school year, what degree or certificate will you be working on? Indicate your most immediate degree objective Page 2 of FAFSA on the Web Worksheet

20 20 Enrollment status When 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” Page 3 of FAFSA on the Web Worksheet

21 21 Work-study and student loans? For a complete financial aid offering, answer “both work-study and student loans” Page 3 of FAFSA on the Web Worksheet

22 22 Section 2 Student dependency status Page 3 of FAFSA on the Web Worksheet

23 23 Determining dependency Page 3 of FAFSA on the Web Worksheet

24 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? Page 3 of FAFSA on the Web Worksheet

25 25 Homeless youth questions Homeless means lacking fixed, regular and adequate housing Includes 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 guardian Youth means 21 or younger, or you are still enrolled in high school as of the day you sign this application Page 3 of FAFSA on the Web Worksheet

26 26 Dependent or independent student? Yes to any question = independent student You do not have to provide parent information in section 3 Skip to section 4 No to all questions = dependent student You must report parent information in section 3 Page 3 of FAFSA on the Web Worksheet

27 27 Section 3 Parental information Page 4 of FAFSA on the Web Worksheet

28 28 Parents Who is a parent? Biological parents Adoptive parents Step-parents Who is not a parent? Grandparents Foster parents Legal guardians Older brothers or sisters Aunts or uncles Page 4 of FAFSA on the Web Worksheet

29 29 Single, widowed, or divorced parents Widowed or single (never married) parent? Answer questions about that parent only Widowed and remarried? Answer about parent and step-parent Divorced? Answer about the parent you lived with more (plus any step-parent you live with) Page 4 of FAFSA on the Web Worksheet

30 30 Parents’ marital status & Indicate the marital status of your parents Include the month and year your parents were married, separated, divorced, or widowed Example 05/1980 Enter your parents’ address List only parents whose information you are reporting Page 4 of FAFSA on the Web Worksheet

31 31 Parent identifying information Enter your father’s (or step-father’s) social security number, last name, and date of birth Enter your mother’s (or step-mother’s) social security number, last name, and date of birth If no SS# available, enter all zeroes Only list info on parents reporting on FAFSA Page 4 of FAFSA on the Web Worksheet Smith Smith

32 32 Parents’ state of residence List your parents’ state of legal residence Enter the date of legal residency for the parent who has lived in the state longest, if it was after January 1, 2004 Page 4 of FAFSA on the Web Worksheet AK

33 33 Parents’ 2008 tax return Indicate what type of income tax return your parents filed or will file in 2008 Indicate if they were eligible to file a 1040A or 1040 EZ A person is not eligible to file a 1040A or 1040EZ if he or she: Makes more than $100,000 Itemizes deductions Receives income from his or her own business or farm Is self employed Receives alimony Is required to file Schedule D for capital gains If 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” Page 4 of FAFSA on the Web Worksheet

34 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 apply Page 4 of FAFSA on the Web Worksheet

35 35 Dislocated worker As of today, is either of your parents a dislocated worker? Page 5 of FAFSA on the Web Worksheet

36 36 Parents’ adjusted gross income for 2008 AGI for line A line EZ line 4 It’s OK to estimate if you haven’t done your taxes yet Report whole dollars (no cents) If the answer is $0 or the question does not apply, enter “0” Page 5 of FAFSA on the Web Worksheet 40,000

37 37 Parents’ earnings from work Enter how much each of your parents earned from working in 2008 (wages, salaries, tips) W2 forms IRS 1040 lines Box 14 of Schedule K-1 (Form 1065) 1040A line EZ line 1 Page 5 of FAFSA on the Web Worksheet 19,000 18,000

38 38 Parents’ income tax for 2008 Enter the amount of your parents’ income tax for 2008 IRS 1040 line A line EZ line 11 Page 5 of FAFSA on the Web Worksheet 1,100

39 39 Parents’ exemptions for 2008 Enter your parents’ exemptions for line 6d 1040A line 6d Page 5 of FAFSA on the Web Worksheet 4

40 40 Parent household Your parents’ number of family members in Yourself Your parents Your parents’ other dependent children, if your parents provide more than half their support or the children could answer “no” to every question in Section 2, regardless of where they live Other 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, 2010 Page 5 of FAFSA on the Web Worksheet 4

41 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 yourself Never include your parents Include other household members only if they will attend college at least half time in in a program that leads to a college degree or certificate Page 5 of FAFSA on the Web Worksheet 1

42 42 Parents’ 2008 additional financial information & untaxed income Complete the left hand column on page 8 (Q94 and Q95) Page 5 of FAFSA on the Web Worksheet

43 43 Parent asset information Report the current balance in your parents’ cash, savings, and checking accounts as of the day you complete your FAFSA Page 5 of FAFSA on the Web Worksheet 2,700.00

44 44 Net worth of parents’ investments Investments include… Real estate (other than family home) Trust funds UGMA and UTMA accounts Money market and mutual funds Certificates of deposit Stocks and stock options Bonds and other securities Coverdell savings accounts 529 college savings plans The refund value of 529 prepaid tuition plans Installment and land sale contracts (including mortgages held) Commodities, etc. Don’t include… The value of life insurance Retirement plans Pension funds Annuities Non-education IRAs Keogh plans, etc. Cash, savings and checking accounts already reported earlier Page 5 of FAFSA on the Web Worksheet 0

45 45 Net worth of parents’ business and/or investment farms Include the market value of land, machinery, equipment, and inventory Don’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 employees Page 5 of FAFSA on the Web Worksheet 0

46 46 Section 4 Student finances Page 6 of FAFSA on the Web Worksheet

47 47 Student tax return questions Page 6 of FAFSA on the Web Worksheet

48 48 Veterans’ education benefits Indicate which veterans’ education benefits you will receive in For more information, contact the VA at Page 6 of FAFSA on the Web Worksheet

49 49 Student household & number in college List the number of family members in the student’s household List the number of family members attending college in Will not apply to traditional students Page 6 of FAFSA on the Web Worksheet

50 50 Student household benefits Indicate which benefits anyone in your household received in 2007 or 2008 Will not apply to traditional students Page 6 of FAFSA on the Web Worksheet

51 51 Dislocated worker? Indicate if you or your spouse is a dislocated worker Will not apply to traditional student Page 6 of FAFSA on the Web Worksheet

52 52 Student income tax & exemptions List your (and your spouse’s) income tax for 2008 Enter your (and your spouse’s) exemptions for 2008 Page 7 of FAFSA on the Web Worksheet

53 53 Student’s 2008 additional financial info & untaxed income Complete the right hand column on page 8 (Q46 and Q 47) Page 7 of FAFSA on the Web Worksheet

54 54 Student assets Enter student’s total cash, savings and checking account balance Student’s investments Net worth of student’s business and/or investment farms (not family farms) Page 7 of FAFSA on the Web Worksheet 3,

55 55 Section 5 Colleges to receive information Page 7 of FAFSA on the Web Worksheet

56 56 Federal school codes & housing plans Enter federal school codes for up to 10 schools Enter your housing plan for each school Page 7 of FAFSA on the Web Worksheet

57 57 Congratulations! You’ve completed the FAFSA on the Web Worksheet Remember – do not mail the worksheet we completed today Go to and enter information with this worksheet Save often! Use your PIN to sign and submit electronically Or print out a signature page, sign it, and mail it

58 58 After filing Student Aid Report Other documentation Award letters Tips for Success

59 59 Student Aid Report (SAR) SAR sent to student within 3 weeks Review it for accuracy Report any changes SAR sent to schools listed on FAFSA School will use EFC to determine your financial need School sends award letter to student or requests additional info

60 60 Finding your EFC Expected Family Contribution Located in upper right hand corner of SAR

61 61 Other forms Some schools require additional paperwork CSS Financial Aid PROFILE Campus scholarship application Ask what forms the college requires!

62 62 Award letters Schools send their award letters to students Award letter shows the amount of financial aid you will receive at their school Award might include… Grants Scholarships Work-study Loans

63 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 FAFSA Colleges verify 30% of all applicants

64 64 For more information Contact the school you plan to attend Contact Federal Student Aid at: FED-AID

65 65 Thank you for coming! ~ Please fill out a survey before you leave ~


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