Financial Aid 101

Financial Aid: The Application The process of applying for financial aid begins with completing the financial aid application, a FAFSA or TASFA. You must complete an application each year that you plan to attend college/university. The Free Application for Federal Student Aid (FAFSA) is used for students that want to apply for federal and state student aid. The 2017-2018 application can be completed online beginning October 1, 2016 at www.fafsa.gov. The Texas Application for State Financial Aid (TASFA) is the state version. This application is completed in paper and is submitted to each university of choice. The 2017-2018 application will be available to complete beginning October 1, 2016. It will be available at www.aie.org/TASFA or may be available in the college or university website www.utrgv.edu/finaid under Forms section

FAFSA or TASFA FAFSA: Federal student aid is only available to U.S citizens or legal permanent residents. This requirement applies only to the student. Thus, if you are a U.S citizen or have a permanent resident card (number in card will be required) you can complete a FAFSA application. The TASFA is available in the state of Texas for students that are not U.S citizens or legal permanent residents, but that may be classified as Texas residents under laws HB 1403 and SB 1528. This application can only be used for Texas public institutions. Private institutions in Texas and out of state institutions may have a different application. **Important**Students under Deferred Action for Childhood Arrivals (DACA) that are planning to attend a public college or university in Texas and meet the SB 1528 Law criteria should use the TASFA unless the college or university request a different application.

Senate Bill Law 1528 Under Senate Bill Law 1528, a student that is not a U.S citizen or legal permanent resident can be considered a resident of Texas and be eligible to pay in-state tuition and to receive state financial aid. The requirements to qualify under this law are: Graduate from a Texas High School Have resided in Texas 36 months before graduating from High School Have resided in Texas 12 months prior to enrolling in a college or university Students that meet this criteria can complete a TASFA

Information Needed SSN Number (parent and student if applicable) Permanent resident card (for students that are permanent residents) 2015 Tax return and W-2 forms for parents (if applicable) 2015 Foreign Tax return for parents (if applicable) 2015 Tax Return and w-2 forms for student (if applicable) Other income information for 2015 that is not found on tax returns, such as Social Security Benefits, Veteran Benefits, Disability Benefits, Child Support. For FAFSA application student and one parent will need to obtain an FSA ID (username and password) to sign the FAFSA application. If the parent(s) do not have a SSN then the parent cannot obtain an FSA ID and will sign the FAFSA on paper.

FSA ID –Tips Always create an FSA ID with an e-mail address (it’s the easiest way to retrieve if you forget it) Student and parent must use a different e-mail address Do not use a work or school e-mail. Use only a personal e-mail. You should access the e-mail account (on a separate browser) before starting to create an FSA ID Once your FSA ID is created you can validate your e-mail immediately and this allows for your e-mail address to become the username for your FSA ID.

Importance of Applying Early Colleges and universities may have Priority Deadlines Improves chance of obtaining financial aid that is limited in funding Deadline for some state programs (Texas Grant) Allows to have time to submit additional documents and make corrections if necessary UTRGV RECOMMENDED PRIORITY DEADLINE: MARCH 15

Linking to the IRS Parents will have the option to link the FAFSA application to the IRS by using the IRS Data Retrieval Tool. It’s the easiest way to provide you tax data. It’s the best way to ensure that your FAFSA has accurate tax information. You will not need to provide a copy of your parents’ tax return to your college.

EFC (Expected Family Contribution) Expected Family Contribution is a term used in the college financial aid process to determine an applicant’s eligibility for need-based federal student aid, and in many cases, state and institutional aid. This number will generate after the FAFSA/TASFA application is submitted and processed.

Types of Financial Aid Grants: Free money based on financial need . Available from federal, state and institutional sources. Sometimes limited in funding. Applying as early as possible increases your chances of getting all the grants your are eligible for. Loans: Money that must be paid back with interest. Available from federal and state sources. Only state loans can be limited in funding. Work Study: Money that can be earned from a part-time job on or off-campus; based on financial need. Can be limited in funding. If interested, answer yes to question on FAFSA and follow up with school on how you can request work-study. Scholarships: Free money based on merit. Usually require additional application(s). Available from institutional and private sources.

Financial Aid Payments Once you have accepted your financial aid awards, your awards will pay into your student account and pay all or part of any balance owed to the university, usually 10 days before the first day of classes. If the sum of your awards is greater than tuition and fees, then your financial aid will pay the full balance and leftover money will be sent to you by check or direct deposit. NOTE: During Freshman year only, remaining loan money will not be sent out until 30 days after classes begin. If total sum of your awards is less than tuition and fees, you will need to pay the remaining balance before or on payment due date. Failure to pay will result in an automatic drop from your classes. Make sure you check your account for any remaining balances.

How can I keep my Financial Aid? ***Maintain Satisfactory Academic Progress*** Three factors taken into consideration in determining Satisfactory Academic Progress: Grade Point Average minimum UG:2.0 GR: 3.0 Increments Student must pass 67% of their overall attempted classes. Calculation will occur at the end of each semester of enrollment (dual and concurrent enrollment and transfer work included in this calculation). To calculate the percentage, add up all the hours passed (excluding remedial) and divide it by all the hours attempted (includes DP, F, DF, I, NC) Maximum Time Frame Undergraduates have 180 hours to achieve a degree.

How can I keep my Financial Aid? How does this affect students? SAP is calculated at the end of every semester. If students fall below the required SAP standards, they are granted ONE warning period during their next enrolled semester. Students can receive aid for warning semester but at the end of warning semester students must meet ALL SAP requirements. If they fail to meet this criteria, the student goes on financial aid suspension and are no longer eligible to receive aid. SAP Appeals are available but students must have documented extenuating circumstances to be approved

Important Financial Aid Tips Apply for financial aid every year by the priority deadline: March 15th Activate and READ your university student email regularly. Review your academic progress regularly. See an academic advisor if you are having difficulty passing your courses. ASK FOR HELP! Contact the Financial Aid Office if you have any questions or if you need assistance. WE want YOU to be SUCCESSFUL!!!

FAFSA Assistance Financial Aid Nights at high schools Financial Aid Offices at your college or university

Scholarships

Scholarships & Institutional Programs Scholarships - Free money that does not have to be repaid. Scholarships are awarded based on merit, need, and achievement in academics, athletics, the arts, or other scholarly areas. They can be available from the college or university, from community organizations or from private funds. These may require an additional application. Some colleges or universities use the Admissions application for some scholarships Each college or university may also have a separate scholarship application. The UTRGV Scholarship application will open on October 1, 2016. UTRGV scholarship application available at www.utrgv.edu/applyscholarships. Deadline January 15 for Entering Freshmen. Private and community scholarship program resources High School Counselors www.fastweb.com Internet searches (as long as there are no fees).

UTRGV Achieve Program The UTRGV Achieve Program will cover a gap in tuition and fee expenses and $500 of book expenses per semester for the regular academic year (fall and spring) that is not being covered by other forms of gift aid (grants or scholarships), including Federal, State , private, and institutional aid. Have a family income of $45,000 or less and demonstrate financial need as reported on the FAFSA. Be classified as a Texas Resident Be enrolled for 15 hours or more per semester Be enrolled as an undergraduate in a degree-seeking program towards a first Bachelors’ degree. Entering Freshman with an ACT composite of 19, SAT composite of 900 or be in the top 10% of graduating class Returning students must be meeting the financial aid satisfactory academic progress requirements and have a minimum 2.5 GPA New Transfer student must have a 2.5 transfer GPA. Priority will be given to students that have filed the FAFSA or TASFA for the upcoming academic year by March 15th

UTRGV Assistance Scholarship The scholarship is primarily intended to provide gift assistance to needy students currently receiving little or no gift aid. The maximum award amount is $2,250. An entering freshman must have minimum ACT composite score of 20, or a SAT composite score of 950, or be in the top 10% of their high school graduating class. Currently enrolled students must be making satisfactory academic progress as defined by financial aid guidelines and have minimum 2.5 GPA Transfer students attending UTRGV for the first time, must have a transfer GPA of 2.75 Must be an undergraduate without a prior Bachelor’s degree Must be enrolled full-time Must file the FAFSA & demonstrate high financial need Must not have TEXAS Grant Must be a Texas resident Must have Fall/Spring Pell under $3,000 ($1,500 per semester)   

Summer Boost This program is designed to help students decrease time to graduation by encouraging summer enrollment. Students that meet the eligibility requirements can receive $500 for enrolling in 1 class and $1,000 for enrolling in 2 classes. Have successfully completed 24 hours during regular academic year (fall and spring) Student must be in a degree seeking program towards a first Bachelor’s degree Must demonstrate financial need as per FAFSA information Complete summer financial aid application (summer notification at www.utrgv.edu/finaid beginning December 15 of each year) Be meeting Satisfactory Academic Progress requirements Have a 2.0 GPA

The Foundation and Valley Alliance of Mentors for Opportunities and Scholarships (VAMOS) have partnered to create the VAMOS/UTRGV Endowed Scholarship Program. Be a U.S. Citizen or eligible non-citizen Be Pell Grant Eligible Graduate from a high school in Hidalgo, Cameron or Starr County Renewable for 4 years of undergraduate study, or until graduation, whichever comes first Valued up to $10,000 All high school seniors are encouraged to apply starting October 1, 2015. The application must be submitted online by Feb. 15, 2017 Due to the generosity of the Coca-Cola Foundation, we have created the Coca-Cola First Generation Scholars program at UTRGV. Be a U.S. Citizen or eligible non-citizen Be Pell Grant Eligible Must be a first generation college student Renewable for 4 years of undergraduate study, or until graduation, whichever comes first Valued up to $24,500 All high school seniors are encouraged to apply starting October 1, 2015. The application must be submitted online by Jan. 15, 2017

Resources For additional information, please visit: www.studentaid.gov www.collegeforalltexans.com www.fastweb.com UTRGV Financial Aid Office and Scholarship Office Information www.utrgv.edu/finaid www.utrgv.edu/scholarships www.utrgv.edu/askrio

Visit us online: www.utrgv.edu For more information: Call us: 888.882.4026 Visit us online: www.utrgv.edu