1. Oregon University System Fall Regional Counselor Conference Oregon Association of Student Financial Aid Administrators and Oregon Student Assistance Commission Phillip W.W.D. Rodgers, Sr. Director, Office of Student Financial Aid Portland State University Jenny Ryan Oregon Student Assistance Commission

2. What You Need to Know About Financial Aid

3. Topics We Will Discuss Today What is financial aid What is financial aid Standard Types and Sources of Financial Aid Standard Types and Sources of Financial Aid How to Apply for Financial Aid How to Apply for Financial Aid Free Application for Federal Student Aid (FAFSA) Free Application for Federal Student Aid (FAFSA) Calculating financial need Calculating financial need Cost of attendance (COA) Cost of attendance (COA) The Award Letter The Award Letter Special circumstances Special circumstances

4. What is Financial Aid? Financial aid is funding provided to students and families to help pay for postsecondary educational expenses

5. Standard Types and Sources of Financial Aid Grants Grants Federal Pell Grant Federal Pell Grant Supplemental Educational Opportunity Grant Supplemental Educational Opportunity Grant Oregon Opportunity Grant Oregon Opportunity Grant Academic Competiveness Grant (ACG) Academic Competiveness Grant (ACG) National Science & Mathematics Access to Retain Talent Grant (SMART) National Science & Mathematics Access to Retain Talent Grant (SMART) Teach Grant Teach Grant

6. EMPLOYMENT EMPLOYMENT Federal Work Study Federal Work Study Institutional Work Study Institutional Work Study Institutional Campus Employment Institutional Campus Employment Standard Types and Sources of Financial Aid

7. Loans Loans Federal Stafford Loans (Subsidized/Unsubsidized) Federal Stafford Loans (Subsidized/Unsubsidized) Perkins Loans Perkins Loans Federal Parent Loans to Undergraduate Students (PLUS) Federal Parent Loans to Undergraduate Students (PLUS) Alternative loans - always encourage students to apply for state and federal aid by completing the FAFSA first Alternative loans - always encourage students to apply for state and federal aid by completing the FAFSA first

8. Standard Types and Sources of Financial Aid Scholarships Institutional applications Institutional applications Admission applications Admission applications OSAC scholarships OSAC scholarships Internet searches Internet searches Local and other scholarships Local and other scholarships High School scholarships High School scholarships

9. Academic Competitiveness Grant First year $750/year First year $750/year Second Year $1300/year Second Year $1300/year Must have a 3.0 GPA at the end of the first year  Pell Grant Eligible At least half-time enrollment At least half-time enrollment Completed a Rigorous High School Program Completed a Rigorous High School Program More info online at the US Department of Education www.studentaid.ed.gov More info online at the US Department of Education www.studentaid.ed.gov

10. Smart Grant Third year $4000/year – Fourth year $4000/year Third year $4000/year – Fourth year $4000/year Pell Grant Eligible Pell Grant Eligible At least half-time students At least half-time students Cumulative GPA of 3.0 or greater Cumulative GPA of 3.0 or greater Declared Major and taking appropriate classes towards these fields of study: Declared Major and taking appropriate classes towards these fields of study: Computer Science or Technology Computer Science or Technology Engineering Engineering Life Sciences or Physical Sciences Life Sciences or Physical Sciences Mathematics Mathematics Specified Foreign Languages Specified Foreign Languages Specified Multidisciplinary Studies Specified Multidisciplinary Studies More info online at the US Department of Education www.studentaid.ed.gov

11. Teach Grant Program first effective for 08-09 aid year Program first effective for 08-09 aid year Optional for schools to participate Optional for schools to participate $4000/yr Grant for students interested in teaching (Math, Science, Foreign Lang., Special Ed, reading specialist, (Math, Science, Foreign Lang., Special Ed, reading specialist, other “high need fields) Must teach in low income school in high need field for 4 years within the first 8 years after graduation 75th percentile on standardized test / or maintain 3.25 GPA 75th percentile on standardized test / or maintain 3.25 GPA If teaching requirement not fulfilled, Grant becomes a Direct Unsubsidized Loan, accruing interest from the first disbursement date. If teaching requirement not fulfilled, Grant becomes a Direct Unsubsidized Loan, accruing interest from the first disbursement date.

12. How do students apply for aid? FREE Application Federal Student Aid (FAFSA) required for federal and state aid. This application is free. Students should not use alternate websites that charge a fee to file the FAFSA. FREE Application Federal Student Aid (FAFSA) required for federal and state aid. This application is free. Students should not use alternate websites that charge a fee to file the FAFSA. Profile form (used by some schools) Profile form (used by some schools) Institutional forms Institutional forms FAFSA on the WEB FAFSA on the WEB

13. Free Application for Federal Student Aid (FAFSA) A standard form that collects demographic and financial information about the student and family A standard form that collects demographic and financial information about the student and family May be filed electronically or using paper form May be filed electronically or using paper form Available in English and Spanish Available in English and Spanish

14. FAFSA Information used to calculate the Expected Family Contribution or EFC Information used to calculate the Expected Family Contribution or EFC The amount of money a student and his or her family may reasonably be expected to contribute towards the cost of the student’s education for an academic year The amount of money a student and his or her family may reasonably be expected to contribute towards the cost of the student’s education for an academic year Colleges use EFC to determine eligibility for financial aid Colleges use EFC to determine eligibility for financial aid

15. FAFSA May be filed at any time during an academic year, but no earlier than the January 1 st prior to the academic year for which the student requests aid May be filed at any time during an academic year, but no earlier than the January 1 st prior to the academic year for which the student requests aid For the 2010-11 academic year, the FAFSA may be filed beginning January 1, 2010 For the 2010-11 academic year, the FAFSA may be filed beginning January 1, 2010 Colleges may set FAFSA filing deadlines Colleges may set FAFSA filing deadlines

16. Student Financial Aid Personal Identification Number (SFA PIN) Web site: www.pin.ed.gov Web site: www.pin.ed.govwww.pin.ed.gov Sign FAFSA electronically Sign FAFSA electronically Can request PIN before January 1, 2010 Can request PIN before January 1, 2010 Not required, but speeds processing Not required, but speeds processing May be used by students and parents throughout aid process, including subsequent school years May be used by students and parents throughout aid process, including subsequent school years

17. FAFSA on the Web Web site: www.fafsa.gov Web site: www.fafsa.gov 2010-11 FAFSA on the Web available on January 1, 2010 2010-11 FAFSA on the Web available on January 1, 2010 FAFSA on the Web Worksheet: FAFSA on the Web Worksheet: Used as “pre-application” worksheet Used as “pre-application” worksheet Questions follow order of FAFSA on the Web Questions follow order of FAFSA on the Web

18. FAFSA on the Web Good reasons to file electronically: Built-in edits to prevent costly errors Built-in edits to prevent costly errors Skip-logic allows student and/or parent to skip unnecessary questions Skip-logic allows student and/or parent to skip unnecessary questions More timely submission of original application and any necessary corrections More timely submission of original application and any necessary corrections More detailed instructions and “help” for common questions More detailed instructions and “help” for common questions Ability to check application status on-line Ability to check application status on-line Simplified application process in the future Simplified application process in the future

19. FAFSA Processing Results Central Processing System (CPS) notifies student of FAFSA processing results by: Paper Student Aid Report (SAR) if paper FAFSA was filed and student’s e-mail address was not provided Paper Student Aid Report (SAR) if paper FAFSA was filed and student’s e-mail address was not provided SAR Acknowledgment if filed FAFSA on the Web and student’s e-mail address was not provided SAR Acknowledgment if filed FAFSA on the Web and student’s e-mail address was not provided E-mail notification containing a direct link to student’s on- line SAR if student’s e-mail was provided on paper or electronic FAFSA E-mail notification containing a direct link to student’s on- line SAR if student’s e-mail was provided on paper or electronic FAFSA Student with PIN may view SAR on-line at www.fafsa.ed.gov Student with PIN may view SAR on-line at www.fafsa.ed.gov

20. Overview of the federal application process Obtain the Federal Student Aid PIN Obtain the Federal Student Aid PIN www.pin.ed.gov www.pin.ed.gov www.pin.ed.gov Fill out the FAFSA form (online or paper) Fill out the FAFSA form (online or paper) www.fafsa.ed.gov www.fafsa.ed.gov www.fafsa.ed.gov Review the SAR (online or paper) Review the SAR (online or paper) School receives FAFSA data School receives FAFSA data School resolves conflicting data/verification School resolves conflicting data/verification Once complete…The Expected Family Contribution (EFC) is determined Once complete…The Expected Family Contribution (EFC) is determined

21. Calculating Financial Need Cost of Attendance minus Expected Family Contribution equals Financial Need

22. Cost of Attendance Budgets based upon Standard Cost Tuition and Fees Tuition and Fees Resident or Non-Resident Resident or Non-Resident Room and Board Room and Board Books and Supplies Books and Supplies Miscellaneous Allowance Miscellaneous Allowance Transportation Transportation Other Costs Other Costs Dependent child care, overseas study, computer Dependent child care, overseas study, computer

23. The Award Letter Review Cost of Attendance Review Cost of Attendance Expected Family Contribution (EFC) Expected Family Contribution (EFC) Financial aid offered Financial aid offered What to do if the aid offered isn’t enough What to do if the aid offered isn’t enough Any Questions, Don’t hesitate to contact you FAA Any Questions, Don’t hesitate to contact you FAA

24. Special Circumstances Cannot report on FAFSA Cannot report on FAFSA Send explanation to financial aid office at each college - College reviews special circumstances Send explanation to financial aid office at each college - College reviews special circumstances Request additional documentation Request additional documentation Decisions are final and cannot be appealed to U.S. Department of Education Decisions are final and cannot be appealed to U.S. Department of Education

25. Special Circumstances Change in employment status Change in employment status Medical expenses not covered by insurance Medical expenses not covered by insurance Change in parent marital status Change in parent marital status Unusual dependent care expenses Unusual dependent care expenses Student cannot obtain parent information Student cannot obtain parent information

26. Resources and events Please contact Your financial aid office for answers to your questions Please contact Your financial aid office for answers to your questions Financial Aid Nights Financial Aid Nights College Goal Oregon – January 30, 2010 College Goal Oregon – January 30, 2010

27. THANK YOU FOR ALL YOU DO!!!!!!