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Financial Aid CSU HS Counselor 2007.

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Presentation on theme: "Financial Aid CSU HS Counselor 2007."— Presentation transcript:

1 Financial Aid CSU HS Counselor 2007

2 What does it cost? 2014-15 Cost of Attendance* (9 months)
At Home On Campus Off Campus Fees $6,698 Books/Supp $1,719 Room/Board $4,532 $12,080 $12,089 Trans $1,345 $1,169 $1,391 Personal $1,364 TOTAL $15,658 $23,030 $23,261 Fees = $5,472 tuition fees + $1,226 average campus based fees (health center, etc.., and will vary by campus) * Systemwide averages, actual amounts will vary by CSU campus.

3 Financial Aid- can help families pay.
The Free Application for Federal Student Aid (FAFSA) or DREAM application is used to calculate an Expected Family Contribution (EFC). This number is used to determine financial aid eligibility. Gift Aid Scholarships Students should check with the institution if they need to complete a separate application Grants Self-help Aid Loans Employment opportunities Never pay for someone to complete the FAFSA or Dream Application for you or “find” scholarships for you. The internet and your local library offer free scholarship search engines and the premise of the FAFSA is that it’s free.

4 Types of Gift Aid (Federal-FAFSA)
Federal Pell Grant Federal Supplemental Educational Opportunity Grant (FSEOG) Iraq & Afghanistan Service Grant

5 Types of Gift Aid (State-FAFSA or DREAM)
Cal Grants-Make sure you let the Counselors know that if the student is awarded a Cal Grant A it will be placed on “RESERVE” for up to 3 years while they attend a California Community College until they transfer to a 4-year Degree Granting Institution. Cal Grants (A & B) Chafee Grant Middle Class Scholarship (MCS) CSU - State University Grant (SUG) CSU - Educational Opportunity Program (EOP) Community Colleges – Board of Governor’s Grant (BOGG) UC – University Grant

6 Types of Self–Help Aid (Federal-FAFSA)
Federal Work-Study (FWS) Federal Perkins Loan Federal Direct Loans PLUS (parent) Loan

7 CSU Financial Aid 2012-13 (Big Picture)
319,426 CSU Students received aid (76% of all students) Nearly $3.8 Billion in Total Aid 57% of All undergraduates have full cost of tuition covered by grants, scholarships or waivers $629 million in State University Grant to 131,000 + students For the academic year we anticipate more than $644 million in State University Grant awards

8 Timely Topics California Dream Act Middle Class Scholarship
Application Changes Special Circumstances Verification

9 Dream Application Students without lawful immigration status, who qualify for an AB540 nonresident tuition exemption: Dream Application is completed instead of FAFSA ( Used to determine eligibility for state and institutional need based scholarships and grants Cal Grant GPA verification is still required, in addition to the Dream Application, for Cal Grant consideration Some campuses may also have a separate institutional scholarship application that must be filed in addition to the DREAM and FAFSA applications The Admission application fee waiver is also available to students without lawful immigration status, who will qualify for an AB540 nonresident tuition exemption & meet the income guidelines Male students must register for Selective Service regardless of undocumented status Students may be selected for verification Verification may require the tax filers to submit tax transcripts for themselves (i.e. the student) or the parent  HS may have to submit the GPA to CSAC using the non-SSN GPA process CSAC provides a webinar on how to do this

10 Dream Application AB 540 General Requirements
The student must have attended a HS (public or private) in CA for 3 or more years, AND The student must have graduated from a CA HS or attained the equivalent (GED and CA HS proficiency exam also qualify), File an AB540 Affidavit (California Non-Resident Tuition Exemption Request form) with the college or university Available in the Admissions & Records office of each CSU

11 Dream Application DACA: Deferred Action for Childhood Arrivals
Discretionary determination, by the Federal Government, to defer the removal action an individual Deferred action does not provide an individual with lawful status Assigned Social Security number for ‘Work Purposes’ only

12 Dream Act Deferred Action Status
Should still complete the California Dream Application Not all deferred action students will qualify for AB540 status AB540 is a California specific statute

13 New: Middle Class Scholarship
Available beginning academic school year State scholarship for students with family income up to $150,000 on a sliding scale UC and Cal State specific FAFSA and Dream applicants will be considered for eligibility Students must file a FAFSA/DREAM Application by March 2

14 New: Middle Class Scholarship
Examples of programs that count against MCS elig: (not an all-inclusive list) Federal: Pell, FSEOG State: Cal Grant, Chafee Grant, Child Development Grant Institutional: Need-based grants, EOP, scholarships designated for tuition, waivers (e.g. CalVet, Alan Pattee, etc.), Athletic awards for tuition, Vets benefits for tuition The MCS award will be reduced by any Federal, State, or institutionally administered grants or fee waivers received by the student Student must be enrolled at least half time (6 units) Student must maintain satisfactory academic progress

15 New: Middle Class Scholarship
2013/14 Maximum award for CSU $768 (income of $100K or less) at 40% (current tuition of $5,472) MCS max. would be $2,190 Each academic year, the maximum amount of the scholarship will increase until , When the program is fully implemented the maximum award will be up to 40 percent of the mandatory systemwide tuition and fees. Each year, the maximum award amount will be based on the number of students eligible for the MCS statewide and funding allocated by the State Budget.

16 Application Process IRS Data Retrieval tool FAFSA online
Cannot have filed Married filing Separate IRS will determine if the student meets the eligibility to use the IRS Data Retrieval Tool If the tax payer owes taxes (or back taxes) can’t do retrieval Benefits: Faster More accurate Reduces documents requested by a campus IRS Data Retrieval tool FAFSA online Federal Income Tax returns must be filed to use the IRS data retrieval tool 2 to 3 weeks after e-file 6 to 8 weeks after paper filing Not all online filers will qualify to use the IRS Data Retrieval Tool

17 Application Process IRS Data Retrieval Tool
Students should NOT wait to file the FAFSA until after the parents file their taxes Use estimates of income and taxes to file FAFSA early Update the FAFSA using the IRS Data Retrieval Tool AFTER parents/student file taxes

18 Application Changes Parent Definition
Assistance in combining parent IRS data can be provided by the Financial Aid office at your campus Expanded definition of parents: not strictly tied to marital status Parent Definition Addition to previous definitions: Parents are not married to each other and live together, student may select “unmarried and both parents are living together” This definition includes domestic partners Both parents income should be reported Both parents should be included in the house hold size

19 Special Circumstances
Don’t let this delay your FAFSA or Dream application: contact the financial aid office early FERPA: Family Educational Rights and Privacy Act Prevents University staff from discussing student specific information with a third party, including parents, without the student being present Each campus has different policies and procedures for helping these students and families

20 Special Circumstances
Death of a Parent Parent/Student Loss of Employment Parents Divorce/Separation Student Estrangement from Parents Homeless students Other: Students with unique situations should contact the financial aid department at a CSU campus for guidance

21 Verification Selected by the Federal Department of Education, the school, or the California Student Aid Commission (in the case of Dream Applicants) Students selected to submit documents to “verify” information reported on their aid application Students are notified, usually via , of a document submission deadline Typical documents requested: Tax Transcript Household worksheet Proof of Citizenship and/or US Residency Status

22 Verification Failure to submit documents on time:
Will cause a delay in processing of the student’s award May result in a student being “dropped” from courses May miss out on aid that has limited funding Know a student that can’t turn something in due to a “special circumstance?” Refer the student to the financial aid office

23 Financial Aid & Transfer Students
Cal Grant B received at CC counts towards 4-year Cal Grant eligibility Units attempted at CC may affect overall financial aid eligibility at a 4-year school Satisfactory academic progress (maximum time frame) Regardless if aid was received or not Units earned at CC affect SUG eligibility at a CSU

24 Financial Aid & Transfer Students
Pell Lifetime Eligibility Used (LEU): 6 years Pell received while at a CC will reduce remaining Pell eligibility at a 4-year school Subsidized Loan Lifetime Eligibility First time borrowers as of July 1, 2013 6-year limit on Subsidized Loans Borrowing at a CC may affect eligibility for Subsidized loan at a 4-year

25 Helpful Websites FAFSA:
Cal Grants: Dream Application: Department of Education - Student guide: CSU campus websites: CA Colleges and Career planning:

26 Questions???

27 The California State University

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