Financial Aid 101 Paying for College

Cost of Attendance Direct Costs Indirect Costs Tuition Fees Room & Board Indirect Costs Books Travel Personal

TN Private; Out of State TN Private; Out of State Cost of Attendance 2-yr Public 4-yr Public TN Private; Out of State Tuition/Fees $4,083 $12,724 $44,496 Room/Meals $4,210 $10,238 $14,962 Books/Supplies $1,200 $1,598 $1,294 Transportation $3,024 $1,664 VARIES Miscellaneous $400 $4,002 $3,902 COA $12,917 $30,226 $64,654 2-yr Public 4-yr Public TN Private; Out of State Tuition/Fees $3,801 $12,436 $43,620 Room/Meals $9,926 $14,670

Institutional (College) Financial Aid Sources Institutional (College) Private (Local) Federal (Pell Grant) State (HOPE)

FAFSA 2012-13 FAFSA on the Web Available now www.fafsa.gov (VERY IMPORTANT!) Priority deadline is as soon as possible after January 1, 2012!

2018-19 FAFSA 2017-18 High School Seniors Available October 1, 2017 www.fafsa.gov (VERY IMPORTANT!) Student and parent are encouraged to create FSA IDs (fsaid.ed.gov) prior to October 1 Student and parent will submit FAFSA using IRS Data Retrieval Tool to pull 2016 tax information

FAFSA Checklist Student’s Social Security number Parent(s)’ Social Security number(s) Student’s driver’s license number if you have one 2016 tax information for student and parent(s) To complete and submit 2018-19 FAFSA in October, most families will upload their 2016 tax information using the IRS Data Retrieval Tool via FAFSA. Records of your untaxed income, such as child support and veterans noneducation benefits for student and parent(s) Information on checking and savings account balances; investments; and business and farm assets

HELP AND HINTS = YOUR FRIEND FAFSA HELP AND HINTS = YOUR FRIEND 2012-13 FAFSA on the Web Available now www.fafsa.gov (VERY IMPORTANT!) Priority deadline is as soon as possible after January 1, 2012!

Student Information Last Name, First Name, SSN – must match social security card Length of residency question E-mail – leave blank if you prefer to receive information by postal mail Selective Service – males only; register me Grade level – never attended college/1st yr. Degree – 1st bachelor’s degree, associate degree, certificate or diploma Work-study – yes

Dependency Status If all “no” responses, student is dependent; parental information needed If “yes” to any question, student is independent; parental information is not needed If you have a special circumstance and cannot provide parental information, contact the financial aid office at the college(s) you plan to attend in order to complete the FAFSA; professional judgment

Parent Demographics Parent – adoptive or biological Divorced/separated – answer questions about parent whom you lived with more during the past 12 months Remarried – answer questions about parent you live with and your stepparent Last Name, 1st initial of 1st name, SSN – must match social security card Length of residency question # in college – do not include your parents in this number

Financial Information 2016 IRS tax return – already completed, will file, or not going to file Income tax – amount paid; should not be the same as the AGI IRS Data Retrieval Tool – once 2016 tax return is completed, tax information imported directly from IRS; simplifies verification Financial Info needed from Parent and Student

FAFSA Investments Include Do NOT Include Rental property Trust funds Money market funds Mutual funds Certificates of deposit Stocks Stock options 529 college savings plans UTMA/UGMA accounts Do NOT Include Primary place of residence 401[k] plans Pension funds Annuities Non-education IRAs

Sign & Submit Preparer – no Sign electronically – student and parent must each create FSA ID I Forgot/Don’t Know My FSA ID – answer challenge questions; case sensitive Terms of Agreement – agree SUBMIT MY FAFSA NOW – see I promised it wasn’t that bad!

Confirmation Pell Grant estimate (if eligible) and info on student loan eligibility Detailed college information (grad, retention, and transfer rates) Begin a new application with parents’ info link

Student Aid Report Notification of FAFSA processing results via e-mail (if provided on FAFSA) or paper (if e-mail not provided on FAFSA) or online Review data for accuracy Institutional Student Information Report (ISIR) sent to colleges listed on FAFSA two weeks after initial FAFSA submission Additional documentation may be requested by institution; verification

Federal Aid Pell FSEOG Work Study $598 - $5,920 (2017-18) $598 - $5,920 (2017-18) 0 – 5234 EFC Need based (2017-18) FSEOG $100 - $4,000 Exceptional financial need Work Study Amount Varies Typically paid to student

Certificate/ Diploma TCAT State Aid HOPE Scholarship $1,500 – $1,750 per semester 21 ACT or 980 SAT or 3.0 GPA* Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT TSAA $1,000 – $4,000 per academic year 0 EFC Jan 15 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

TN Promise Checklist Apply to the Tennessee Promise program at www.TNPromise.gov by November 1 Complete 2018-19 FAFSA at www.FAFSA.gov by January 15 Attend a mandatory meetings assigned by partnering organization Complete 8 hours of community service for every semester you receive award.

TN Promise Examples A B C Tuition $4,000 -$8,000 -$3,000 $0 $1,000 HOPE/Pell/TSAA -$8,000 -$3,000 $0 Gap $1,000 TN Promise $0 Tuition $1,000 $0 $4,000 $0

Annie Trout annie.trout@tn.gov 615.604.0119 (c) Contact Info Annie Trout annie.trout@tn.gov 615.604.0119 (c)

TN Promise Tuition $4,000 $8,000 $20,000 -$3,000 -$3,500 TN Promise Examples 2-yr Public 4-yr Public 4-yr Private Tuition $4,000 $8,000 $20,000 Eligible Tuition HOPE/Pell/TSAA -$3,000 -$3,500 TN Promise -$1,000 -$500 Your cost $0 $16,000