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1.  What options do we have?  Where do we start?  How do we apply for aid?  Will my information be safe?  What funds could we get?  Is it worth.

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Presentation on theme: "1.  What options do we have?  Where do we start?  How do we apply for aid?  Will my information be safe?  What funds could we get?  Is it worth."— Presentation transcript:

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2  What options do we have?  Where do we start?  How do we apply for aid?  Will my information be safe?  What funds could we get?  Is it worth my time? 2

3  These relatively new tools are designed to give you good estimates of your likely aid eligibility early on in the process  All schools are required to have one  Using the one at the school itself will often get you better information than any other sources  Example at ◦ 3

4 Online at:  Can also file using paper FAFSA if needed 4

5  Free Application for Federal Student Aid (FAFSA) is key to getting all federal or state financial aid.  File by March 10 th – Indiana’s Priority Deadline  Very helpful to have taxes already completed  Can use estimates, but must remember to update the data after taxes are filed  – Before May 15 th State corrections deadline  It is much better to use estimates than miss the March 10 th Indiana filing deadline 5

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8  Name  Social Security Number  Date of Birth  Apply for a PIN number  Create a password 8

9  Gender  Mailing address  State residency  Phone number   Marital Status  Drivers license  IRS Data Match option 9  Citizenship  Selective Service registration  High School completion  College grade level  Degree level sought  Interest in Work-study  Bachelor’s degree earned  Education levels for parents

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11 11 IWU’s Code is

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13  Born before January 1, 1989?  Married?  In a master’s or doctoral program?  Support dependents over 50%?  Military active duty or veteran?  Orphan, foster child or Ward of the Court?  Court designated Emancipated Minor?  Under a legal guardianship?  Homeless? 13

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15  Marital status and date  Social Security Numbers  Dates of Birth   State Residency  Household size  Number in college ◦ Excluding the parents 15  PIN number  IRS Data Match Option  Tax filing info  AGI  Income from work  Dislocated Worker status  Federal tax paid  Exemptions claimed

16  Student encouraged to use PIN Number  Must read and agree to Terms of Agreement  Parent signature ◦ Electronically with a PIN Number ◦ Print and mail a Signature Page ◦ Submit without signatures  Must read and agree to Terms of Agreement 16

17  The federal government will calculate your Expected Family Contribution (EFC) and send it to the colleges you released you information to. ◦ EFCs range from 0 – ◦ 0 = full Pell Grant eligibility  Financial Aid Office staff will ◦ Request more documentation if needed ◦ Review your file for accuracy and completeness ◦ Correct FAFSA answers if necessary 17

18  Calculate your estimated Cost of Attendance (COA) ◦ This includes tuition, room, board, books and supplies, transportation, personal and miscellaneous expenses COA – EFC = Need  Award aid from all available sources to try to fill your financial Need  Notify your student electronically or by paper letter of the aid they qualify for 18

19  Gift aid includes  Grants – federal, state and institutional  Scholarships – institutional and off campus  Self-help aid includes:  Work Study – federal or state  Loans – federal, institutional or private bank 19

20  Federal Pell Grant  Federal SEOG Grant  TEACH Grant  Federal Work Study  Federal Perkins Loan  Federal Direct Loan ◦ Subsidized and Unsubsidized  Parent Loan for Undergraduate Students (PLUS) 20

21  Frank O’Bannon Grant Program ◦ Higher Education Award ◦ Freedom of Choice Award  21 st Century Scholars Program  Indiana Nursing Scholarship  Mitch Daniels Early Graduation Scholarship  Child of Certain Veterans and Public Safety Officer Supplemental Grant  Additional info: 21

22  Most can be sought during Junior or Senior year  Use free scholarship search tools  Some possibilities ◦ ◦ ◦ ◦ College Board Scholarship Search  You should not pay for scholarship search help 22

23  At the institution ◦ Academic scholarships, Athletic, Music, Art Awards  Benefits for employee dependents  Military benefits and ROTC programs  Private businesses and civic organizations  Alternative student loans  Remember to report all scholarships and other funds to your Financial Aid Office early 23

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