Presentation on theme: "L ANSING C OMMUNITY C OLLEGE F INANCIAL A ID U PDATES & T IPS Jake Rodriguez Nicole Reinhart-Huberty Jim Owens."— Presentation transcript:
L ANSING C OMMUNITY C OLLEGE F INANCIAL A ID U PDATES & T IPS Jake Rodriguez Nicole Reinhart-Huberty Jim Owens
IRS D ATA R ETRIEVAL & T AX R ETURN T RANSCRIPT The best and quickest option for students and parents to provide tax information on FAFSA. Must have filed taxes and allowed approx 2 weeks for the gov’t to process info prior to being able to retrieve May be fitting for people who are not eligible for Data Retrieval Could be requested from college’s for Special Circumstance Appeal determinations (e.g. Loss of Income Appeal) Data Retrieval ToolTax Return Transcript
T UITION I NCENTIVE P ROGRAM (TIP) Many students do not know they are eligible Students must have been on Medicaid for 24 months within a 36 month period to be eligible Students who think they may be eligible should contact the State of MI Office of Scholarships and Grants to see if they qualify (1-888-447-2687) State of MI has TIP H.S. counselors powerpoint http://www.michigan.gov/mistudentaid/0,4636,7- 128-60969---,00.html
S PECIAL CIRCUMSTANCES APPEALS … Job loss Parent will not help complete the FAFSA Parent(s) in college Student got married Student/ Parent got divorced Exceptional expenses Other Not every student fits in a “box” Special Circumstances allow for considerations to be made at the institutional level that cannot be performed through FAFSA LCC Financial Aid forms are online http://lcc.edu/finaid/forms/ Special Circumstances Appeals are under construction to be a document students submit online and attach necessary documentation (stay tuned) Each institution handles the Special Circumstance appeal process differently
T ERMINOLOGY “Homeless” means lacking fixed, regular and adequate housing. You may be homeless if you are living in shelters, parks, motels or cars, or are temporarily living with other people because you have nowhere else to go. Also, if you are living in any of these situations and fleeing an abusive parent you may be considered homeless even if your parent would provide support and a place to live. “ Unaccompanied” means you are not living in the physical custody of your parent or guardian. “Youth” means you are 21 years of age or younger and you are still enrolled in high school as of the day you sign this application. Answer “No” if you are not homeless or at risk of being homeless, or do not have a determination. You should contact your financial aid office for assistance if you do not have a determination but believe you are an unaccompanied youth who is homeless or are an unaccompanied youth providing your own living expenses who is at risk of being homeless.
H OMELESS STATUS Unaccompanied Youth who was homeless via School District Homeless Liaison Homeless via U.S. Department of Housing and Urban Development (HUD)determine you were an unaccompanied youth who was homeless? 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? The Financial aid administrator at your college may require you to provide a copy of the determination if you answered “Yes” to any of these questions Homeless via HUD letter
H IGH S CHOOL C OMPLETION VS. D IPLOMA Not eligible for Title IV aid Possibly some scholarships Required for federal grants, loans, work- study GED also acceptable for Title IV aid H.S. Completion H.S. Diploma