1. Counselor 2015 Counselor Update What you need to know about financial aid and EducationQuest Foundation

2. Agenda Financial Aid Update ■ FAFSA changes ■ Types of financial aid ■ New FSA ID ■ Financial aid process ■ Financial aid formulas Nebraska Coordinating Commission ■ ACE ■ GAP ■ Tracking FAFSA completions EducationQuest Programs and Services ■ Resources for students ■ College Fairs ■ Scholarship tools ■ College Access Grants

3. EducationQuest Foundation is a nonprofit organization with a mission to improve access to higher education in Nebraska. About EducationQuest

4. 10 students Of 10 students who start high school in 9 th grade: 7.9 7.9 will graduate from high school in 4 years. 5.5 5.5 will enter college within 12 months of graduation. 4 4 will return for their sophomore year. 2.7 2.7 will graduate within 150% of time. Nebraska Higher Education Pipeline

5. Where Nebraska students are going to college Community Colleges University of Nebraska System Independent Colleges State Colleges Private Career Schools 6.6% 3.1% 20.1% 33.5% 36.7%

6. FAFSA changes ■ College’s identification will be blocked ■ Adjustment to tax liability question: – Allows for premium payments made to insurance provider (per ACA) – For example: Income tax amount is on IRS Form: 1040—line 56 minus line 46 1040A—line 28 minus line 36 1040EZ—line 10

7. FSA ID replaces PIN ■ Request at fsaid.ed.gov – Student and parent must each get one – Provide email, username and password – Provide SSN, name, address, date of birth – Answer 4 challenge questions and pick a unique date ■ Email will be verified ■ Use for: – Data Retrieval from IRS – Electronic signature for FAFSA and Promissory Notes – Access to grant and loan history

8. FSAID.ED.GOV

9. Types of financial aid ■ Scholarships (merit and need-based) ■ Grants* (need-based) ■ Work-Study* (need-based) ■ Loans* (need-based and non-need-based) * Based on FAFSA results

10. Common scholarship criteria GPA ACT/SAT score Financial need first-gen ethnicity College choice Field of study Talents Activities Community Service Disability

11. Scholarship tips for students Focus on college- based and local scholarships. Review ScholarshipQuest and national search sites. Begin scholarship research in 10 th & 11 th grade. Use College Funding Estimator to determine EFC that is used for need-based awards. Provide Activities Resume when requesting a letter of recommendation.

12. ■ Three $500 scholarships ■ Winners selected in February ■ Parent or student (junior or senior) must attend an FAP ■ Must attend nonprofit Nebraska college ■ Last year’s winners were from: − Friend − Brownell Talbot − St. Paul Financial Aid Program Scholarship

13. ■ New dates – Online application opens: November 1, 2015 – Deadline: February 1, 2016 – Student Aid Report due March 15, 2016 ■ Eligibility Requirements – Recommendations must use online form – Financial need = EFC below 15,000 ■ Amount of Award – Maximum - $4,350 per semester – Varies at institution Buffett Scholarship Buffett Scholarship www.buffettscholarships.org

14. ■ Renewable – Maintain 2.0 or higher GPA – Earn at least 18 credit hours each calendar year – Renewable up to five years (four-year college) or three years (two-year college) ■ Watch counselor listserv for details and training opportunities

15. Grants ■ Money students don’t repay; based on financial need – Federal Pell Grant (range $626 - $5,775) – EFC - $5,198 or less SEOG – State Nebraska Opportunity Grant – College-based

16. Tuition Assistance Programs If criteria is met, tuition is covered Collegebound Nebraska − UNO, UNL, UNK, UNMC − NE resident, full- time student, Pell-eligible − Complete FAFSA by April 1 Advantage − Wayne, Peru, Chadron − Must be freshman or returning student − NE resident, full- time student, Pell- eligible − Complete FAFSA by June 1 Access NWU − NE resident, full- time student − ACT of 25 or higher, GPA of 3.0 or higher − Live on campus − EFC of $1,000 or less − Complete FAFSA by March 1

17. Work-Study ■ Based on financial need ■ Allows students to earn money while attending college ■ Paid for hours worked – Shouldn’t expect money up-front to pay tuition ■ Earnings will not impact financial aid the following year

18. Name Interest accruing while in school? Type Need-based No Perkins Discontinued Direct Subsidized loan Non-need- based Yes Direct Unsubsidized loan Parent PLUS loan Student Loans

19. Student Loan Interest Rates Student Loan Interest Rates Subsidized Stafford 4.29% Unsubsidized Stafford 4.29% Parent Loan 6.84% ■ Subsidized Stafford interest paid by student during grace period ■ Interest rates change annually

20. Time-and-a-Half Limits Pell Grants and Loans ■ Limited to 150% – Associate Degree 2 years + 1 – Bachelor’s Degree 4 years + 2 NSLDS.ed.gov ■ Access with FSA ID ■ Grant and Student/Parent Loan History

21. Financial Aid Process FSA ID FAFSA Processor Student College SAR Verification Award Notification Student Loan This is how the financial aid process works:

22. Student Aid Report (SAR) ■ Provides Expected Family Contribution (EFC) ■ Indicates if chosen for verification ■ Identifies Pell Grant & loan eligibility ■ Lists grant and loan disbursement history

23. ■ EFC = Expected Family Contribution FAFSA results ■ College uses EFC to determine the type and amount of aid to award the student Lower EFC Greater Financial Need =

24. Cost of Education Tuition & Fees Room & Board Books & Supplies Personal & Transportation

25. Financial aid formula Cost of Education Tuition & Fees Books & Supplies Room & Board Personal Transportation Tuition & Fees Books & Supplies Room & Board Personal Transportation Parent Income/Assets Student Income/Assets Parent’s Age # in Household # in College Parent Income/Assets Student Income/Assets Parent’s Age # in Household # in College The amount of money the college will try to give you in financial aid The amount of money the college will try to give you in financial aid EFC Financial Need

26. Automatic Zero Automatic Zero Student automatically qualifies for zero EFC if both (1) and (2) are true (1) In 2014 or 2015, anyone in parents’ household received benefits from any of these federal programs: Supplemental Security Income (SSI) Supplemental Nutrition Assistance Program (SNAP) Free and Reduced Price School Lunch Program Temporary Assistance for Needy Families (TANF) Supplemental Nutrition Program for Women, Infants, and Children (WIC) – OR parents were eligible to file 2015 IRS Form 1040A or 1040EZ – OR parents were not required to file any income tax return – OR parent is a dislocated worker (2) 2015 income of student’s parents is $24,000 or less

27. Simplified Formula * Simplified Formula * Used for dependent students if both (1) and (2) are true: (1) In 2014 or 2015, anyone in parents’ household received benefits from any federal program listed on Automatic Zero slide – OR the student’s parents could file a 2015 1040A or 1040 EZ IRS Form – OR were not required to file any income tax return – OR the student’s parent is a dislocated worker (2) Parent(s) 2015 Adjusted Gross Income is UNDER $49,999 *Assets excluded

28. Regular Formula* Regular Formula* Used for dependent students if both (1) and (2) are true: (1) In 2014 or 2015, NO ONE in parents’ household received benefits from any federal program listed on the Automatic Zero slide (2) Parent(s) were required to file a 2015 IRS Form 1040 AND Adjusted Gross Income was OVER $49,999 *Assets are included – see table for Education Savings and Asset Protection Allowance

29. $0 1,000 2,100 3,100 4,100 5,200 6,200 7,200 8,300 9,300 10,300 11,400 12,400 13,400 14,500 15,500 15,900 16,300 16,600 17,000 $0 1,000 2,100 3,100 4,100 5,200 6,200 7,200 8,300 9,300 10,300 11,400 12,400 13,400 14,500 15,500 15,900 16,300 16,600 17,000 $0 500 1,100 1,600 2,100 2,600 3,200 3,700 4,200 4,700 5,300 5,800 6,300 6,800 7,400 7,900 8,100 8,300 8,500 8,600 17,400 17,800 18,300 18,700 19,200 19,700 20,200 20,700 21,300 21,800 22,400 23,000 23,700 24,300 25,000 25,700 26,400 27,200 27,900 13,900 29,600 8,800 9,000 9,200 9,400 9,700 9,900 10,100 10,400 10,600 10,900 11,100 11,400 11,700 12,000 12,300 12,600 12,900 13,200 13,600 13,900 14,300

30. $17,840 22,220 27,400 32,380 37,870 $14,790 19,180 24,390 29,320 34,820 $16,130 21,350 26,290 31,780 $18,300 23,240 28,730 $20,200 25,690 $4,270 $3,040

31. $25,000 to $380,000 $380,100 to $635,000 $635,001 or more $177,500 + 60% of NW over $380,000 $330,500 + 100% of NW over $635,000

32. Income impact on EFC – family size 4 Income increases, assets remain level Family AFamily BFamily C Income $50,000$100,000$150,000 Assets (excluding retirement-specific accounts) $50,000 EFC $3,120$18,611$33,498

33. Asset impact on EFC – family size 4 Assets increase, income remains level Family AFamily BFamily C Income $50,000 Assets (excluding retirement-specific accounts) $0$75,000$100,000 EFC $2,251$3,798$4,551

34. CCPE Update ■ ACE Scholarship ■ Ace “Career Program of Study” Scholarship ■ Community College GAP Assistance Program ■ Tracking FAFSA Completions

35. ■ Pays tuition/fees for high school students enrolled in a college course (dual-enrolled or concurrently-enrolled) – No more than 2 classes per term ■ Student or parent/guardian must be eligible – Supplemental Security Income (SSI) – Free/Reduced Price Lunch – Temporary Assistance for Needy Families (TANF) – Food Stamps (SNAP) – Special Supplemental Nutrition Program (WIC) – Extreme Hardship ■ Eligibility documentation required with application ACE Scholarship www.ccpe.ne.gov/ace

36. ACE “Career Program of Study” Scholarship ■ For low-income students pursuing a career that typically requires a diploma or certificate ■ Eligibility criteria: – Family income at or under 200% of federal poverty level – Student enrolled in a Career Program of Study at least one course must be part of a sequence of courses found at http://cestandards.education.ne.gov/ – A local business or industry must serve as an official advisor to the program ■ Limited to $250 per term

37. New FAFSA Completion Project ■ Can now track FAFSA completions by student ■ Schools must register with CCPE to participate – Submit contract by Dec. 15, 2015 ■ CCPE will run weekly reports starting Jan. 2016 – Show students’ FAFSA status (started, submitted, missing signature, completed, etc.) ■ Initiated by DOE to increase number of students who complete the FAFSA and thus go on to college ■ Watch bulletins and listserv for more details

38. Community College GAP Assistance Program (GAP) ■ Effective for 2016-2017 school year ■ Funding for community colleges to award to students in eligible “not-for-credit” programs such as certificate, diploma or degree ■ Eligibility Criteria: – Nebraska resident – Family income at or below 250% of poverty – Must complete readiness assessment – Valid for six months – Funding for only one eligible program – Program must have 16 contact hours or more

39. GAP ■ In-demand occupation means: – Financial services – Transportation, warehousing, distribution logistics – Precision metals manufacturing – Biosciences – Renewable energy – Agriculture and food processing – Business management and administrative services – Software and computer services – Research, development, engineering services – Health services – Hospitality and tourism – Any other industry designated as an in-demand occupation by the committee

40. GAP ■ Committee awards grant in any amount up to eligible costs – Tuition – Direct training costs – Required books and equipment – Fees, including but not limited to Testing Background checks ■ Denied if funding from other source available

41. Questions?

42. EducationQuest Update

43. ■ KnowHow2GO Handbook ■ 8 th, 9 th & 10 th Grade section at EducationQuest.org ■ KnowHow2GO Activities ‒20 activities that relate to each KnowHow2GO step Resources for students in grades 8-10 ■ Find resources in the Professionals section at EducationQuest.org (under “KnowHow2GO to College”

44. Resources for students in grades 8-10 Step to the Top of the Class Demonstrates an activity that helps students understand how their choices can impact their future. College students share stories In 8 th, 9 th & 10 th Grade section, each step features a video of students explaining how that step impacted them. New videos: Find resources in the Professionals section at EducationQuest.org (under “KnowHow2GO to College”

45. Resources for 11 th -12 th Grade Students EducationQuest has resources to help students: ■ explore careers ■ search for colleges ■ Find scholarships ■ complete the FAFSA ■ learn about student loans

46. Resources for 11 th -12 th Grade Students Handbooks Website Monthly Emails

47. Fall College Fairs There will be spring fairs in Lincoln and Omaha, dates TBD

48. Barcodes and Scanners ■ Scanners – used by most colleges at College Fairs and EPPs ■ Barcodes – each student should register at NebraskaCollegeFairs.org ‒Print and take the barcode to the fair, or download to mobile device ‒Can be reused at spring fairs

49. ■ ScholarshipQuest – Database of over 2,000 local and state scholarships at EducationQuest.org – Send us your scholarships so we can include them! ■ Scavenger Hunt Scholarship – To apply for this $500 scholarship, students in 9 th -12 th grade set up a ScholarshipQuest profile Deadline - March 31 Scholarship Resources

50. Apply2College! ■ Statewide campaign – Schools encouraged to hold event during the school day to help seniors complete applications ■ Official dates – Oct. 19-30 – Over 150 high schools have registered ■ Find details and resources under “Professionals” at EducationQuest.org

51. ■ Will award a new round of grants next summer – Funding is for 2016-17 to 2020-21 – Opportunity to develop and/or enhance college access activities and programs at your school ■ Application available this fall ■ Schools interested in applying must send a representative to our College Access Symposium – March 31 in Lincoln – save the date! College Access Grants

52. Outreach Services ■ Our Outreach Services team provides college planning services to clients of community agencies statewide ■ They’re a valuable resource for students who: – are in foster care – are wards of the state – use Voc Rehab

53. Coffee Break Webinars ■ Will conduct three webinars this year: – Financial Aid Update (September 24, 2015) – Buffett Scholarship (November 2015) – FAFSA completion/FSA ID (January 2016)

54. Financial Avenue ■ Financial literacy tool from Inceptia ■ Newly revamped to make it more student-friendly – New look and tone – Mobile-friendly ■ Free for Nebraska schools – FinancialAvenue.org – New access code is: pr3kq

55. Financial Avenue

56. Follow us! ■ Facebook.com/EducationQuest ■ Twitter: @FreeCollegeHelp ■ Instagram.com/EducationQuest – Encourage students and parents to follow us, too!

57. Kearney 800.666.3721 308.234.6310 Lincoln 800.303.3745 402.475.5222 Omaha 888.357.6300 402.391.4033