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FAFSA 101: Understanding & Filing the FAFSA Revised 9/2013 Understanding the FAFSA FAFSA Filing FAFSA 101 Corrections Special Circumstances Next Steps.

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Presentation on theme: "FAFSA 101: Understanding & Filing the FAFSA Revised 9/2013 Understanding the FAFSA FAFSA Filing FAFSA 101 Corrections Special Circumstances Next Steps."— Presentation transcript:

1 FAFSA 101: Understanding & Filing the FAFSA Revised 9/2013 Understanding the FAFSA FAFSA Filing FAFSA 101 Corrections Special Circumstances Next Steps FAFSA 201 Filing a Renewal FAFSA FAFSA 301

2 Agenda Financial Aid OverviewIntro to the FAFSAPreparing to File the FAFSAFiling the FAFSANext Steps: After the FAFSA

3 Money: Financial Aid Hierarchy Low/NoLow High Private LoansPLUS LoansUnsubsidized Stafford LoansSubsidized Stafford LoansPerkins LoansSelf-Help Aid: Work StudyGift Aid: Scholarships COST AVAILABILITY Gift Aid: Grants *Need-based *Available to everyone *On financial aid award letter Participate in recorded workshops *Paying for College *Student Loans 101: Know Before You Borrow

4 Financial Aid Overview Paying for College Family Financing =

5

6 Agenda Financial Aid OverviewIntro to the FAFSAPreparing to File the FAFSAFiling the FAFSANext Steps: After the FAFSA

7 Intro to the FAFSA Free Application for Federal Student Aid (FAFSA) Expected Family Contribution (EFC) What kind of aid can you receive? How much aid can you receive? www.fafsa.gov Free FAFSA support through site Free FAFSA support through College Goal Sunday

8 Agenda Financial Aid OverviewIntro to the FAFSAPreparing to File the FAFSAFiling the FAFSANext Steps: After the FAFSA

9 Preparing to File the FAFSA

10 Apply for a PIN FAFSA year 1FAFSA year 2FAFSA year 3FAFSA year 4

11 pin.ed.gov

12 Apply for a PIN What you’ll need:  Social Security Number  Full name  Date of birth  Mailing address  Email address  Challenge question answer PIN site options

13 Apply for a PIN BEST CHALLENGE QUESTIONSCHALLENGE QUESTIONS TO AVOID 1.What is the name of the hospital where you were born? 2.What city were you born in? 3.What brand was your first car? 4.What is your mother’s maiden name? 1.What was the name of your elementary school? 2.What is your favorite pastime? 3.What is the location of your dream vacation? 4.What is your favorite TV show? 5.What is your favorite color?

14 Apply for a PIN Things you should know:  You must have a Social Security Number  PINs are usually available to use immediately  Make sure the information is correct  You may need help  Chat through fafsa.gov  Call 800-4-FED-AID PIN site options

15 Preparing to File the FAFSA

16 Gather Documents √ √ Income records: most current tax return, or W-2’s or paystubs √ √ Bank statements √ √ Child support statements √ √ TANF or welfare information √ √ Family business information √ √ Real estate, stock or bond investment records you may have √ √ Any untaxed income records √ if you have one Social Security Card, Green Card or Permanent Resident Card optional Driver’s license

17 Preparing to File the FAFSA

18 Agenda Financial Aid OverviewIntro to the FAFSAPreparing to File the FAFSAFiling the FAFSANext Steps: After the FAFSA

19 FAFSA Roadmap YES, to ANY one question NO, to ALL questions. FAFSA START Student Legal Name SSN Date of Birth FAFSA START Student Legal Name SSN Date of Birth RENEW MAKE CORRECTIONS STUDENT INFORMATION NEW 2013-14 HIGH SCHOOL COLLEGES List up to 10 colleges COLLEGES List up to 10 colleges DEPENDENCY STATUS Born before Jan. 1, 1990 Married Working on Masters or Doctorate Degree Have children that you financially support Veteran or Currently serving in the US Armed Services Since the age of 13, both parents were deceased, you were/are in foster care or ward of the court Emancipated Minor Have a legal Guardian On or after July 1, 2012, were homeless or at risk of being homeless DEPENDENCY STATUS Born before Jan. 1, 1990 Married Working on Masters or Doctorate Degree Have children that you financially support Veteran or Currently serving in the US Armed Services Since the age of 13, both parents were deceased, you were/are in foster care or ward of the court Emancipated Minor Have a legal Guardian On or after July 1, 2012, were homeless or at risk of being homeless PARENT(S) FINANCIAL INFORMATION PARENT DEMOGRAPHIC INFO: Father or Mother Married/ Remarried BOTH PARENTS DEMOGRAPHIC INFO Father/Step-father Mother/Step-mother BOTH PARENTS DEMOGRAPHIC INFO Father/Step-father Mother/Step-mother PARENT INFORMATION Divorced, Separated, Widowed SIGNATURE Student PIN &Parent PIN SIGNATURE Student PIN &Parent PIN STUDENT FINANCIAL INFORMATION SIGNATURE Student PIN SIGNATURE Student PIN

20 www.fafsa.gov

21 Login Page

22 FAFSA Support

23 My FAFSA Welcome Page

24 My FAFSA Welcome: Previous Years

25 Password Page

26 Login v. Password v. PIN FAFSA year 1FAFSA year 2 FAFSA year 3 Login Password 1Password 2Password 3

27 Introduction Page

28 Student Demographics

29 Eligibility for Financial Aid Participate in *Scholarship Strategies *Paying for College workshop

30 High School Information

31 School Selection

32 Adding Colleges

33 College Housing Plans

34 Dependency Status

35 Dependency Status Continued Participate in *FAFSA 201: Corrections, Special Circumstances & Next Steps

36 Dependency Status Results

37 Parent Information IF YOUR PARENT(S) ARETHEN ENTER INFORMATION FOR MARRIEDBOTH PARENTS REMARRIEDTHE PARENT (AND STEP PARENT) YOU LIVE WITH MOST SINGLE OR WIDOWEDTHE SINGLE OR SURVIVING PARENT DIVORCED OR SEPARATEDTHE PARENT YOU LIVE WITH MOST UNMARRIED, BUT LIVING TOGETHER BOTH PARENTS, REGARDLESS OF MARITAL STATUS SAME SEXFOLLOW ABOVE GUIDELINES

38 Parent Demographics

39 Financial Information Will fileThe amounts entered will be estimates Already completedThe amounts entered will be final Will not fileThe amounts entered may have to be verified through other documentation

40 Tax Information

41 Federal Means Test

42 Additional Financial Information

43 Untaxed Income

44 Parent Assets AssetsCash, savings, checking accounts InvestmentsReal estate, trust funds, stocks, CD, special minor accounts, money market funds, securities, commodities, college savings plans (529 college savings/prepaid tuition plans), mutual funds, bonds, etc

45 Skip to the End?

46 In Case of An Error

47 Student Financial Information

48 Sign & Submit 1 2 3

49 Confirmation Page 1 2 3 4

50 Agenda Financial Aid OverviewIntro to the FAFSAPreparing to File the FAFSAFiling the FAFSANext Steps: After the FAFSA

51 What Happens to your FAFSA Info

52

53 Complete the FAFSA Process COMPLETE FAFSA PROCESS  Check email often  Review SAR  File your taxes early!  Complete Verification and/or Special Circumstance documentation *Participate in FAFSA 201: Corrections, Special Circumstances & Next Steps workshop

54 Next Steps Participate in workshops: *Understanding and Comparing Financial Aid Packages *Student Loans 101: Know Before You Borrow

55 Resources  For help filing the FAFSA  College Goal Sunday: collegegoalsundaywa.org  Chat: fafsa.gov  Phone: 800-4-FED-AID  Email: StudentAid@ed.gov  For help/questions about Verification, special circumstances, or your Financial Aid Award Letter  Financial Aid Office at your selected schools  For additional information  Participate in other USA Funds workshops at usafunds.webex.com

56 A nonprofit corporation, USA Funds ® works to enhance postsecondary education preparedness, access and success by providing and supporting financial and other valued services.


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