1. Copyright: Maureen McRae Goldberg FAFSA 2016-2017 Presented by: Gina Becerril Acting Director of Financial Aid Occidental College

2. Copyright: Maureen McRae Goldberg Sources of Financial Aid  Federal government  State government  Colleges and universities  Private agencies, companies, foundations, and parents’ employers

3. Copyright: Maureen McRae Goldberg Types of Financial Aid  Gift Aid - Grant & scholarship money does not need to be repaid  Work - Money earned by the student as payment for a job on or off campus  Loans - Borrowed money to be paid back, usually with interest

4. Copyright: Maureen McRae Goldberg Cal Grants  Cal Grant A Entitlement Awards – for students with a GPA of at least 3.0, family income and assets below the state ceilings, and who demonstrate financial need  Cal Grant B Entitlement Awards – for students from disadvantaged or low income families with a GPA of at least 2.0, family income and assets below the state ceilings, and who demonstrate financial need  Cal Grant C Awards - for students from low income families pursuing vocational programs of study Keep your eyes and ears open. Rules and Amounts governing Cal Grants are subject to change!

5. Copyright: Maureen McRae Goldberg  be a U.S. citizen or eligible non-citizen  be a California resident  attend a California college or university in 2016-2017 Eligibility for Cal Grants To be eligible for a Cal Grant, the student must also:

6. Copyright: Maureen McRae Goldberg Cal Grant Ceilings (2016-2017) Asset Ceilings - all parent and student assets excluding primary home, business equity, and retirement accounts

7. Copyright: Maureen McRae Goldberg Cal Grant Application Requirements 2016-2017 Most high schools complete the GPA Verification form automatically for all their students. Check with your high school counselor for more details. By March 2, 2016 complete and submit: Free Application for Federal Student Aid (FAFSA) Cal Grant GPA Verification Form

8. Copyright: Maureen McRae Goldberg Types of Applications & Documents  16-17 FAFSA- -Submit to all schools  16-17 CSS Financial Aid PROFILE- - Submit only if required by a school  Institutional Scholarship and/or Financial Aid Application- -Some schools may have their own private applications for aid  2015 federal tax returns (along with schedules and W-2s) or other income documentation Most Financial Aid Apps are online

9. Copyright: Maureen McRae Goldberg FAFSA Information & Tips  File early, but no later than March 2, 2016  Use estimated 2015 income information if taxes are not complete at time of FAFSA submission  Student and at least one parent must complete and sign the FAFSA  Best to complete the form electronically

10. Copyright: Maureen McRae Goldberg Getting Ready Before starting the FAFSA, gather:  Student driver’s license  Student Alien Registration Card  Student and Parent  Social Security cards  2015 W-2 Forms and other records of money earned (i.e. 1099s)  2015 federal income tax form  Prior year tax returns if 2015 is not available  End of year pay stubs if W-2s/1099s are not available  Records of untaxed income  Current bank statements  Business, farm and other real estate records  Records of stocks, bonds and other investments Create a file for copies of all financial aid documents submitted

11. Copyright: Maureen McRae Goldberg FAFSA on the Web Worksheet  The FAFSA Worksheet allows you to pre-answer the most difficult questions before logging on to “FAFSA on the Web” (FOTW).  We will not cover all questions that are asked, just the most difficult ones!  The FAFSA is a “smart form;” not all questions will be asked if they do not directly apply to you.

12. Copyright: Maureen McRae Goldberg FSA ID  The FSA ID replaced the old PIN system on April 26, 2015  If you previously had a PIN, you must now create an FSA ID as the old PIN system is no longer valid  The FSA ID serves as an electronic signature for each individual  The FSA ID is tied to an individual’s name, SSN, and DOB  Both the student and at least one custodial parent must have an FSA ID in order to sign the FAFSA electronically  The FSA ID can take a few days to be processed/activated, make sure to create an FSA ID as soon as possible Apply for an FSA ID at: www.fsaid.ed.gov

13. Copyright: Maureen McRae Goldberg Getting Started Start Here for all options –  Initial FAFSA Entry  Renewal Application Entry  FAFSA Corrections  Providing Signatures  Continuing a Saved FAFSA  Viewing Transaction History www.fafsa.ed.gov

14. Copyright: Maureen McRae Goldberg Logging In The student can log-in using their FSA ID or by entering their personal information The FAFSA belongs to the student. Log-in information must be for the student, NOT the parent!

15. Copyright: Maureen McRae Goldberg Social Security Number  Double check the student’s Social Security Number--once SSN is entered here, it cannot be changed!  Both student name and Social Security Number will be compared through a database match  Errors in name, SSN, and date of birth can cause problems later  First and last name must match exactly as it appear on the Social Security Card  If student has a middle name, do not include it here, only first and last name in this log-in section

16. Copyright: Maureen McRae Goldberg Choose a School Year Be sure to pick 2016-2017! Schools can’t use previous year FAFSAs

17. Copyright: Maureen McRae Goldberg Choose a Password A password allows you to save and return to your FAFSA later

18. Copyright: Maureen McRae Goldberg Introduction Select the links to read additional information/instructions/tips

19. Copyright: Maureen McRae Goldberg Layout Overview  Bar at the top shows you the section where you are  The bar on the left shows you if the questions pertain to the “student” or the “parent”  There are helpful hints on the right to help you answer the questions properly  Use the “next” and “previous” arrows to navigate

20. Copyright: Maureen McRae Goldberg Student Information  If the student has a middle name, enter initial here  First name, last name, SSN, and DOB are already pre- populated from the log-in section  You can only update name and DOB, not SSN  Indicate student’s gender – do not leave this blank

21. Copyright: Maureen McRae Goldberg State of Legal Residency Remember, this is the student, not the parent’s status! If not a resident of the state for at least 5 years, you will be asked more questions about residency

22. Copyright: Maureen McRae Goldberg Contact Information  Make sure to list an email the student will check  Email is a common communication method for aid offices  List a phone number that the student will answer  Parents will have a chance to list their email later

23. Copyright: Maureen McRae Goldberg Student Marital Status The student, NOT the parent’s marital status!

24. Copyright: Maureen McRae Goldberg Driver’s License  Optional to provide Driver License information  If you indicate “yes” make sure you list the license number and the issuing state—leaving either blank can cause problems

25. Copyright: Maureen McRae Goldberg Student Citizenship Status

26. Copyright: Maureen McRae Goldberg Eligible Noncitizen

27. Copyright: Maureen McRae Goldberg Selective Service Requirement Male students who are 18 years of age or older must be registered with the Selective Service The student may also register by going to: www.sss.gov If the student is female, this question will not appear. The FAFSA is a “smart” form.

28. Copyright: Maureen McRae Goldberg High School Completion Status

29. Copyright: Maureen McRae Goldberg Grade Level in 2016-17

30. Copyright: Maureen McRae Goldberg Degree or Certificate Objective

31. Copyright: Maureen McRae Goldberg Work Study Always check that you are interested in work-study; you can decline later if you don’t need or want it.

32. Copyright: Maureen McRae Goldberg First Bachelor Degree? Be sure to answer for the student. NOT the parent!

33. Copyright: Maureen McRae Goldberg Foster Youth Answering “yes” to this question will bypass all parental questions. The student will be required to submit proof of this status with official documents from the State.

34. Copyright: Maureen McRae Goldberg Parent Educational Level  Highest level of education your parent(s) has completed  This is used to determine first-generation status for colleges  Father/Mother no longer used on form.  Will be asked for high school completion of both parents, even if it’s a single parent household  “College or beyond” is for anyone who has earned a Bachelor’s degree or higher

35. Copyright: Maureen McRae Goldberg High School  Student enters the name, city and state of the high school they attended  Student selects Confirm to retrieve the results  If match is found, select school information  If no match is found you can hit “next”  No consequences for leaving this blank

36. Copyright: Maureen McRae Goldberg Where are you going?  It’s important that you get your FAFSA information to the right schools.  You can select up to 10 schools at a time & after each submission you can substitute the original schools for additional schools.  Be sure to scroll down to check the schools you selected.

37. Copyright: Maureen McRae Goldberg School Code Features  You can scroll through the search results  You can also view detailed information for a school before & after adding the school to the FAFSA NOTE: Each UC and each CSU campus must be listed separately

38. Copyright: Maureen McRae Goldberg Housing Plans Your housing plans help determine your cost of attendance.

39. Copyright: Maureen McRae Goldberg School Order School order matters for Cal Grants!

40. Copyright: Maureen McRae Goldberg Strategies for Listing Colleges  List at least one California college or university in the first 3 spots (for Cal Grant consideration)  Then list those schools with the earliest financial aid deadlines, regardless of whether they are in-state or out-of-state  If the student is applying to more than 10 schools, wait for the FAFSA to be processed, then go back online to add additional schools

41. Copyright: Maureen McRae Goldberg Determination of Student Dependency Status Most students will be dependent if they live with a biological/adoptive parent(s). Dependent students will answer “no” to all these questions.

42. Copyright: Maureen McRae Goldberg Dependency Status If the student answers “Yes” to ANY of the dependency questions, they do not need to provide parental information. They are considered INDEPENDENT for financial aid purposes. Independent students will be asked to provide proof of their status

43. Copyright: Maureen McRae Goldberg Dependency Status Results If you (the student) have a special circumstance and are unable to provide parental information, under very limited circumstances, you may be able to submit your FAFSA without parental information.

44. Copyright: Maureen McRae Goldberg Parent Information Provide Information for:  Biological or adoptive parent(s)  Including unmarried parents and same-sex parents, if living together  Stepparent (regardless of any prenuptial agreements) Do not provide information for:  Foster parent(s), student is automatically considered independent  Legal guardian(s) or grandparent(s) or other relative(s) unless they have legally adopted the student Students who do not have contact with their parent(s), may request a dependency override. Contact a Financial Aid Office for more information

45. Copyright: Maureen McRae Goldberg Parent’s Marital Status  What is your parent’s marital status as of today?  If answer is “married or remarried” you will be asked for marital date  If answer is “divorced or separated” you will be asked for divorce/separated date – you will also be asked which parent is completing the form (mother or father)  If answer is “never married,” you will bed asked which parent is completing the form (mother or father). If the parents’ marital status changes after you submit the FAFSA, contact your financial aid office.

46. Copyright: Maureen McRae Goldberg  What is Parent 1 SSN?  What is Parent 1 last name?  What is Parent 1 date of birth? Parent 1 Information Mother/Step-Mother or Father/Step-Father

47. Copyright: Maureen McRae Goldberg Parent 2 Information Mother/Step-Mother or Father/Step-Father  What is Parent 2 SSN?  What is Parent 2 last name?  What is Parent 2 date of birth?

48. Copyright: Maureen McRae Goldberg Parent E-mail Address  If a parental e-mail address is provided, the parent will be notified when the FAFSA has been processed  This email can also be used by schools to contact parents of aid offers or required documents  Make sure it’s a different email address than the student’s

49. Copyright: Maureen McRae Goldberg Parent State of Legal Residency Remember, this is the parent(s), not the student’s status!

50. Copyright: Maureen McRae Goldberg Family Size Include in the household:  the student applying for financial aid  the custodial parent(s)  parents’ other dependent children, if they live with the parent(s) and if the parent(s) provide more than half their support  parents’ other dependent children if the parents’ are listed on that child’s FAFSA application, regardless of where the children live  other people, if they now live with the parent(s), and if the parent(s) provide more than half their support, and will continue to provide that level of support from 7/1/16 through 6/30/17

51. Copyright: Maureen McRae Goldberg Dependents in College  Always include the student whose FAFSA you are completing  Include other household members only if they will attend at least half-time in 2016-2017 in a program that leads to a college degree or certificate Parents cannot be considered “in college,” even if enrolled

52. Copyright: Maureen McRae Goldberg Income Tax Forms Have your parent’s completed their 2015 taxes?  At this time, most parents will indicate “will file”  You can always come back after you file your taxes and update your filing status and income tax figures

53. Copyright: Maureen McRae Goldberg Filing Status 2014 Filing Status is a good guide as most families do not change status from year to year.

54. Copyright: Maureen McRae Goldberg Type of Tax Return  Reference your prior year tax returns  Most families file the same type of return from year to year

55. Copyright: Maureen McRae Goldberg Parent’s AGI  This question will let you know what line item from your taxes you should reference (line 37 for a 1040; line 21 for a 1040A; line 4 for a 1040EZ)  If the student’s parents have not yet filed their 2015 federal tax return, use estimates for this question  The “Income Estimator” may help you calculate this amount  If the student’s parents have completed their 2015 federal tax return, use actual 2015 tax return information to complete this item

56. Copyright: Maureen McRae Goldberg Parent’s Income Earned from Work What is your parent’s income earned from work ?  Include earnings from W-2 statements  Include net business income from a Schedule C  Include income from a K-1 if self-employment earnings are reported  Earnings from work do not have to match with AGI

57. Copyright: Maureen McRae Goldberg Dislocated Worker/ Displaced Homemaker In general, a person may be considered a dislocated worker if they are receiving unemployment benefits due to being laid off and are unlikely to return to the previous occupation. It also includes displaced homemakers. A displaced homemaker is a person who previously provided unpaid services to the family (i.e., a stay-at-home parent), and is no longer supported by the spouse, is unemployed or underemployed, and is having trouble finding or upgrading employment.

58. Copyright: Maureen McRae Goldberg Means Tested Benefits Received This is not the same as Social Security Benefits  If you are not receiving any benefits from these type of federal programs, answer “none of the above.”  You may not be asked this question depending on how you answered previous questions.

59. Copyright: Maureen McRae Goldberg  This question asks whether the parent(s), are eligible to file a 1040A or 1040EZ tax form.  If you do not know the answer to this question, it is fine to select “Don’t know.”  1040A and 1040EZ are simplified tax forms.  Parents who itemize deductions on Schedule A or are self- employed and file a Schedule C, are not eligible to a file a 1040A or 1040EZ, and would answer “no” to this question. 1040A or 1040EZ Tax Return

60. Copyright: Maureen McRae Goldberg 2015 Income Tax Paid How much did your parents pay in income tax?  Taxes paid is not the amount withheld on the W-2 Form!!! It is:  amount withheld plus any amount you paid to the IRS OR  the amount withheld minus any refund check  Best to reference your tax return to answer this question:  line 56 for a 1040  line 37 for a 1040A;  line 10 for a 1040EZ

61. Copyright: Maureen McRae Goldberg Tax Exemptions Enter the number of tax exemptions your parents will claim for 2015.  Reference line 6d for a 1040 & 1040A.  Exemptions include the parent(s) and their claimed dependents.  This does not have to match the household size (but it often does).  The student does not have to be claimed on the tax return of the custodial parent.

62. Copyright: Maureen McRae Goldberg Additional Financial Information

63. Copyright: Maureen McRae Goldberg Untaxed Income  Yearly contributions to your retirement plans must be included!  Child support received must also be reported.

64. Copyright: Maureen McRae Goldberg Assets: Net Worth $___________?  Exceed amount will vary from person to person depending on how previous questions were answered  Amount about $29,600 for two parent households and about $13,200 for single parent households  Net worth is the total value of investment minus debt on investment

65. Copyright: Maureen McRae Goldberg Parent Assets INCLUDE Investments  real estate (other than the home where you reside)  trust funds  money market and mutual funds  certificates of deposit  stocks, bonds, & other securities  529 plans owned by the parents for all children (not just applicant)  installment and land sale contracts Business/Farm Investments  businesses if parent(s) own less than 50%, regardless of the number of employees  businesses if parent(s) own more than 50% and there are more than 100 employees  farms if the family does not live on the farm

66. Copyright: Maureen McRae Goldberg Parent Assets DO NOT INCLUDE  the home where you reside  the value of life insurance plans  Your retirement accounts (pension funds, annuities, non- education IRAs, Keogh plans, etc.)  Small businesses if parent(s) own business more than 50% and there are less than 100 employees  529 plans owned by others (i.e. grandparents)  UGMA and UTMA accounts in the student’s name

67. Copyright: Maureen McRae Goldberg Student Finances  The directions to complete the student income section are the same as those outlined for the parent.  If student is “not going to file,” they will still be asked if they had earnings.  If student did not work or earn income in 2015, indicate “0.” Independent Students will answer a few additional questions than Dependent Students.

68. Copyright: Maureen McRae Goldberg Student Assets  Do not report a 529 account as a student asset; it’s a parent asset.  Report UGMA or UTMAs in the student’s name.  Any other asset in the student’s name MUST be reported.  Student asset questions cannot be bypassed. If question does not apply indicate “0”—do not leave blank.

69. Copyright: Maureen McRae Goldberg Special Note on 529s  529 accounts owned by grandparents or other relatives are not reported anywhere on the FAFSA as an asset.  However, any money dispersed will be considered untaxed income for the student and must be reported on next year’s FAFSA.  This could greatly change eligibility for need-based financial aid in the following years.

70. Copyright: Maureen McRae Goldberg Student Signature Process You can sign-up for an FSA ID

71. Copyright: Maureen McRae Goldberg Parent Signature Process Once FAFSA is signed by both student and a parent, SUBMIT! One custodial parent must sign the FAFSA. You can sign-up for an FSA ID

72. Copyright: Maureen McRae Goldberg Confirmation Page Your estimated Expected Family Contribute is displayed Federal aid eligibility is displayed

73. Copyright: Maureen McRae Goldberg IRS Data Retrieval  Once you file your tax returns, come back to the FAFSA website and update your information to reflect actual 2015 income figures.  You can manually update your information or you can use the Data Retrieval Tool to automatically update your data.  Data Retrieval will only work 3 weeks after filing taxes electronically, or 11 weeks after filing tax returns by mail.

74. Copyright: Maureen McRae Goldberg Special Circumstances  Loss or reduction in parent or student income or assets  Death or serious illness  Unusual medical or dental expenses not covered by insurance  Reduction in child support, social security benefits or other untaxed benefit  Financial responsibility for elderly grandparents  Any other unusual circumstances that affects a family’s ability to contribute to higher education Contact Financial Aid Offices if there is: Write your circumstances as a letter and mail or email to each aid office.

75. Copyright: Maureen McRae Goldberg Summary of the FA Process  Submit all required forms, including FAFSA, by each college’s published deadlines (but no later than March 2)  Keep a copy of all forms submitted  Review the electronic Student Aid Report (SAR)  Watch for financial aid award notifications from colleges after the student has been admitted  Be sure to apply for financial aid this year and every year that the student is enrolled in school  ASK QUESTIONS!

76. Copyright: Maureen McRae Goldberg Net Price Calculator The NPC is a quick and useful tool which can help you understand how to finance an education.  Federal government mandates all colleges have one.  Each NPC is specific to that school.  Based on the information you enter, you will be provided with an estimated financial aid award.  Not an actual aid application!

77. Copyright: Maureen McRae Goldberg If You Need Help at Any Time  FAFSA on the Web – Live Help  Phone 1-800-4-FED-AID (1-800-433-3243)  E-mail the U.S. Department of Education at: FederalStudentAidCustomerService@ed.gov

78. Copyright: Maureen McRae Goldberg