Agenda What is financial aid? What are the types of financial aid? How do I apply for financial aid? Where can I get more information?

What is Financial Aid? Money from a source other than the family to assist with the cost of attending college or career school Family Federal Government States Colleges Private sources: companies, organizations

Financial Aid Myths College is too expensive Only the smartest students receive financial aid Only students with high financial need receive aid My parents make too much money The form is too hard to fill out The FAFSA is only for grants & scholarships I only have to complete the FAFSA one time The estimated family contribution number is the amount I will have to pay

Types of Financial Aid Scholarships: FREE MONEY Usually awarded based on: Academic achievements Interests & career plans Ethnicity, family background And/or financial need Grants: FREE money awarded based on need Work-Study Part time jobs for students with financial need Maybe on campus or off campus Do not use towards tuition & immediate University payment Loans-MUST BE PAID BACK Borrowed $ Low interest/no interest loans May need credit worthy cosigner

FSA ID: fsaid.ed.gov What is the FSA ID? Username & password that you must use to log into certain U.S. Department of Education (ED) websites

Gather the documents you need Your driver’s license # (if you have one) 2017 Tax records Records of any untaxed income from 2017 Your FSA ID (to sign your application electronically) List of colleges you are interested in attending Your FAFSA information will be sent to these colleges The college will work to put together a financial aid package for you based on your FAFSA information Optional: Use FAFSA on the Web Worksheet to prepare your answers and get organized

FAFSA APP! myStudentAid

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www.fafsa.gov Fill it out! Apply on or as soon after October 1 Use 2017 tax information! After taxes are filed, be sure to use the IRS data retrieval tool in the FAFSA Need help? 1.800.4.FED.AID Live chat in fafsa.gov Don’t forget: WATCH FOR THE CONFIRMATION PAGE that says your FAFSA has been submitted, THEN log out

Use the irs data retrieval tool

Email Confirmation Check your email for your FAFSA confirmation SAR (Student Aid Report) Double check your information: make sure it is correct! If you used estimated numbers, and have completed your tax return, complete the IRS data retrieval in the FAFSA Correct any mistakes & resubmit the FAFSA Meet all deadlines or your could miss out on aid!

Tips for completing the FAFSA Apply October 1 & meet all deadlines Use estimates if tax returns are not completed If parents are divorced, use parent with whom the student lives with the most & provides 50% or more of the support Step parent must be included If a student thinks he/she can answer ‘yes’ to a dependency status question, check with the financial aid administrator

TASFA WHAT IS THE TASFA? Where do you get it? What does it look like? Texas Application for State Financial Aid For undocumented students An application used by financial aid administrators at most Texas colleges and universities to determine a student’s eligibility for state financial aid New 18/19 is available! October 1, 2017 Where do you get it? What does it look like? TASFA Process

Instructions to assist

Affidavit to become a permanent resident Must be notarized Must submit every year Form will go to: Registrar

Complete TASFA-fillable form online, save & print. Tasfa process Sign, scan & bring to Welcome Center-financial aid office along with tax transcripts (if filed), selective service info & affidavit. Financial aid office manually enters in TASFA information and computes EFC for student. Complete TASFA-fillable form online, save & print. Financial aid office awards student only Texas $ (TPEG, TEXAS Grant, Texas Work Study, CAL, Private Loan)

What happens next? Set up refund process if you have not already! Receive an email stating additional information is needed OR your award has been posted Should see this in early spring 2019 Schools will always try and give you the best, FREE $ first Federal & State Grants Work Study Federal Loans (student & parent loans) You must accept/decline each type of aid offered Set up refund process if you have not already!

Federal Student Aid Maximums for 2018-2019 Maximum amounts for 2018-2019: Federal Pell Grant: $6095 Direct Loans: $5,500 Subsidized Student loans: zero interest while in school & during periods of deferment Unsubsidized Student loans: interest throughout life of loan No credit check on either loan/no payments while in school Special repayment plans Federal Work-Study: depends on funds available at school & student’s need Federal Direct PLUS loan: (for parents) COA minus other aid received Parents borrow for their student, basic credit check is conducted Parents may defer payment while student is enrolled in college Private Education Loans In student’s name, but would need a credit worthy cosigner Cosigner release options/anyone can be a cosigner Rates based on credit

Texas aid $ amounts for these grants will vary per student TEXAS Grant (public colleges) TPEG (public colleges) TEOG (community colleges) TEG (private colleges) State exemptions www.collegeforalltexans.com

Professional judgment/special circumstances Is something from your 2017 taxes different from your current situation? The college financial aid office has paperwork you may submit (with documentation) to request to have these changes made to better reflect your current situation Lost wages/income changes One time lump sums/IRA rollovers Extreme medical bills/payments, not covered by insurance Nursing home expenses not covered by insurance Unusually high child care costs NOT AN OPTION: Credit card balances Vacations Large mortgage/large car payments

Where can I get more info/help? www.studentaid.gov Information about aid programs Links to free scholarship & college searches 1.800.4.FED.AID Info about aid programs Help with FAFSA

Social Media

The Federal Student Aid Information Center http://www.studentaidhelp.ed.gov

Important Resources www.everychanceeverytexan.org www.finaid.org www.studentaid.gov www.fastweb.com www.mappingyourfuture.org www.collegeboard.org www.planforcollege.com www.nasfaa.org www.projectgradhouston.org www.cafecollegehouston.org www.houstonfafsa.org

Assistant Director, Scholarships & Financial Aid QUESTIONS? Chandra Gonzalez Assistant Director, Scholarships & Financial Aid cngonzalez4@uh.edu