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Christopher Chang Director of Financial Aid SUNY Ulster (845) 687-5058.

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Presentation on theme: "Christopher Chang Director of Financial Aid SUNY Ulster (845) 687-5058."— Presentation transcript:

1 Christopher Chang Director of Financial Aid SUNY Ulster (845)

2  What is Financial Aid?  Who is eligible?  Who completes the forms?  How do I apply?  When do I apply?  What kinds of aid might I receive?

3 Grants Free money Scholarships Free money Loans Money to be paid back Employment Opportunity to earn money for college expenses

4  Need based aid ~ grants, loans & work study  Merit based aid ~ scholarships

5 General Eligibility for Federal Aid:  Matriculation toward a degree  U.S. Citizenship or eligible non-citizen  Registration with Selective Service (males ages 18 – 25)  No drug related convictions while receiving Federal aid

6 The Federal government believes that it is the parents’ and students’ responsibility to pay for college  Parent and student information is required  In divorce or separation situations, the parent with whom the student resides completes the forms  For joint custody situations, the parent who provides the most support completes the forms

7 Students are considered to be Independent by the federal government for 2013 – 2014 if they:  are born before January 1, 1990  are married  have legal dependents or children who receive more than ½ of their support from the student  are orphans, have been declared a ward of the court or were in foster care  Were or are in legal guardianship as determined by a court  are veterans of the U.S. Armed Forces  are currently serving on Active Duty in the US Armed Forces  will be enrolled in a Master’s or Doctorate program

8 IndependenceContinued Independence Continued  Was determined at any time after July 1, 2012 to be an unaccompanied youth who was homeless. Such designation can be made by a school district homeless liaison or the Director of a H.U.D./RHYA transitional or youth program Student is determined to be independent per a Dependency Override performed by the Financial Aid office

9 Professional Judgment Colleges can consider changing economic circumstances when reviewing a student FAFSA In these cases current year financial information will be used to calculate aid eligibility Documentation will be required

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11 Free Application for Federal Student Aid Family’s financial information is required to calculate the student’s Expected Family Contribution (EFC) Electronic versus paper filing Electronic version of FAFSA: Paper version of FAFSA: Call FED-AID or

12  Apply  Reapply  English and Spanish options  Access PIN Web site  Check application status  Make corrections

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14 Before beginning the FAFSA process:  Gather information you need  Social Security Number  Driver’s license  Income tax return and W2s  Bank statements and investment records  Applicable non-taxable income documents  Don’t forget the preferred IRS Data Transfer option is available  Print a FAFSA Worksheet  Useful to help you write information at your convenience

15  Plan how to sign your FAFSA –  Electronically, with a PIN  Send a signature page in the mail  Send a signed a copy of your Student Aid Report  Note important deadlines – Feds must receive your form no later than midnight, Central Daylight time June 30,  Colleges and states may have earlier deadlines

16 To Register for a PIN:

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18  By accepting this PIN you agree to not disclose or share your PIN with anyone.  Your PIN serves as your electronic signature and provides access to your personal records. You should NEVER give your PIN to anyone.  Keep your PIN in a safe place. You will be able to use the same PIN in the future to apply for student aid and access your U.S. Department of Education records.  If you have received a PIN previously but no longer have access to it, select Request a Duplicate PIN from the menu list on the side.

19  Complete or mail FAFSA after January 1st  FAFSA gives the Department of Education information to calculate the Expected Family Contribution (EFC), which will be used to award institutional aid

20 COST OF ATTENDANCE Dependent Student Tuition $ 4130 Fees 500 Books/Supplies 1000 Room/Board 2500 Transportation 1500 Personal 900 Loan fees 105 Total $ Independent Student $ $ 13135

21 FINANCIAL NEED Cost of attendance minus EFC 1000 equals “NEED” 9635 EFC TAP PELL Stafford Loan 2615 = Cost of Attendance 10635

22 Some colleges may have their own application. Also, there may be scholarship applications specific to the school

23 Sample Timetable (2013 – 2014) *Students may begin the application process as early as January 1 st 2013  Complete and submit forms in March/April or sooner (upon tax completion)  College should receive data within two weeks  College begins to award aid in late March or April  Other colleges will have different timelines

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25 Federal Aid  Pell Grant  Campus – Based Programs (vary by school)  Federal Supplemental Educational Opportunity Grant (FSEOG)  Federal Work Study (FWS)  Perkins Loan

26  Direct Student Loan Program  Stafford Student Loan, Subsidized/Unsubsidized  Parent Loan (PLUS)

27 Tuition Assistance Program (TAP)  Attending a college in New York State  Award amounts of $5,000 to $500  Based on 2012 New York State Net Taxable Income  Dependent or married with dependents - $80,000 Net Taxable Income or less  Married independent no dependents - $40,000  Single Independent no dependents- $10,000

28 Tuition Assistance Program Application  If you use a PIN to apply for the FAFSA, there will be a link to the Express TAP Application on the FAFSA confirmation page. Look for red “New York residents only”.  If the link is missed, you must wait three days before applying on the HESC website. Also, a reminder will be sent to you from HESC.

29 AID FOR PART-TIME STUDY (APTS)  Attending a college in New York State  Enrolled in 3 to 11.5 credits  Award varies with institutional allocation  Based on 2012 New York State Net Taxable Income  $34,250 Net Taxable Income or less - independent  $50,550 Net Taxable Income or less – dependent or has dependents

30  New York State and school sponsored program  For educationally and economically disadvantaged students  Must meet academic and economic guidelines  Provides funding and academic services to increase college success

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32 SUNY Ulster Financial Aid Office Stone Ridge Campus – VAN 105 (845) For More Information About:  Upcoming on-campus workshops  Workshops in Area High Schools  Setting up an individual appointment


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