1. Michele A. Rizzo Asst. Dir. of Student Financial Aid Canisius College The Application Process Financial Aid 201

2. An Overview Who is eligible? Who is eligible? Who completes the forms? Who completes the forms? How do I apply? How do I apply? When do I apply? When do I apply? How do I apply for other financing? How do I apply for other financing? What is FAFSA4caster? What is FAFSA4caster? Agenda

3. An Overview General Eligibility for Federal Aid Matriculation toward a degree Matriculation toward a degree U.S. Citizenship or eligible non-citizen U.S. Citizenship or eligible non-citizen Registration with Selective Service (males ages 18 – 25) Registration with Selective Service (males ages 18 – 25) No drug related convictions No drug related convictions Who is eligible?

4. An Overview The Federal government believes that it is the parents’ and student’s responsibility to pay for college. THEREFORE: Parents’ and student information is required Parents’ and student information is required For divorce or separation situations, the parent with whom the student resides completes the forms For 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 form For joint custody situations, the parent who provides the most support completes the form Who completes the forms?

5. A student is considered to be Independent by the Federal Government for 08-09 if : They were born before Jan 1, 1985. At the beginning of the 08-09 school year they will be working on a Master’s or Doctorate program. Married as of the date of application. Have legal dependents/children who receive more than ½ of their support from them. Both parents are deceased, or are a ward/dependent of the court (until 18) A veteran of the U.S. Armed Forces

6. How do I apply?

7. Family’s financial information is required to calculate the student’s Expected Family Contribution (EFC). Family’s financial information is required to calculate the student’s Expected Family Contribution (EFC). Student Aid Report (SAR) Student Aid Report (SAR) Paper versions of FAFSA Paper versions of FAFSA Electronic version of FAFSA Electronic version of FAFSA – FAFSA on the Web at www.fafsa.ed.gov www.fafsa.ed.gov Paper vs. Electronic Processing Paper vs. Electronic Processing Free Application for Federal Student Aid (FAFSA)

8. Apply Apply Reapply Reapply English and Spanish options English and Spanish options Access PIN Web site Access PIN Web site Check status of application Check status of application View SAR information View SAR information Make corrections Make corrections www.fafsa.ed.gov FAFSA on the Web

10. To Register for a PIN: www.pin.ed.gov

11. May be Used to Award Institutional Aid from the College May be Used to Award Institutional Aid from the College Required to Apply for N.Y.S. Financial Aid (TAP Program) Required to Apply for N.Y.S. Financial Aid (TAP Program) Complete and mail FAFSA after January 1st Complete and mail FAFSA after January 1st FAFSA (Cont.)

12. Tuition Assistance Program Application Tuition Assistance Program Application –TAP Application part of FAFSA on the Web. Link to Express TAP Application - on “Confirmation Page” look for red heading “New York Residents Only”. –If link is missed, a reminder will be sent. TAP is a College Specific Program. TAP is a College Specific Program. –1 st New York University/College listed on FAFSA is the school of record How to Apply for TAP

14. Profile - College Scholarship Service Profile - College Scholarship Service Used by approximately 240 College Used by approximately 240 College Total Electronic Application Total Electronic Application www.collegeboard.com www.collegeboard.com Non-Federal Aid Application Non-Federal Aid Application Fees: Fees: $ 5.00 - Registration Fee $ 5.00 - Registration Fee $18.00 - Per Each College $18.00 - Per Each College Secondary Application - Profile

15. Some Colleges May Have an Institution Need Based Aid Application Some Colleges May Have an Institution Need Based Aid Application Or a Specific Scholarship Application Or a Specific Scholarship Application Colleges will Distribute Their Own Forms Colleges will Distribute Their Own Forms Secondary Application - College Forms

16. Suggested Timetable (2008-2009): Suggested Timetable (2008-2009): Complete & Submit Forms 2/15/08 Complete & Submit Forms 2/15/08 College Receives Data 3/1/08 College Receives Data 3/1/08 College Begin to Award Aid 3/15/08 College Begin to Award Aid 3/15/08 National Reply Date (Deposit) 5/1/08 National Reply Date (Deposit) 5/1/08 When do I apply?

17. How do I apply for other financing?

18. Other Financing may include:  Federal PLUS Loans  Alternative Loans  College Payment Plans  College Savings Plans (529 plans)  Home Equity Loans

19. Some financing options require a credit verification. These can expire in 60-90 days from application. Families should time their applications accordingly. College Financial Aid Offices may have a specific timeframe for submission of such applications.

20. Application processes vary. There are many financing options. Families should research before selecting an option or lender.

21. What is FAFSA4caster? Developed to –  Foster early awareness of financial aid and the application process and form.  Serve as an early analysis tool of college affordability.  Reduce the time required to submit the "official" financial aid application in the student's senior year of high school.

22. Features of FAFSA4caster? FAFSA4caster will –  Instantly calculate an estimate of eligibility for federal student aid.  Generate a Renewal FAFSA.  Automatically generate a Federal Student Aid PIN to use to sign your FAFSA.

23. FAFSA4caster www.FAFSA4caster.ed.gov

27. Encourage parent and students to FILE EARLY! Encourage parent and students to FILE EARLY! FAFSA can be filed before taxes are completed. DON’T WAIT, ESTIMATE! FAFSA can be filed before taxes are completed. DON’T WAIT, ESTIMATE! Advise parents and students to AVOID using websites, consultants, planners or services that charge money to apply for financial aid. Advise parents and students to AVOID using websites, consultants, planners or services that charge money to apply for financial aid. Remember that FAFSA4caster is ONLY an estimator. Each school will calculate aid differently. Remember that FAFSA4caster is ONLY an estimator. Each school will calculate aid differently.

28. Have a Nice Day

29. Break