Paying for college

Financial Aid Terms COA – cost of attendance; varies by institution EFC – expected family contribution; number derived from the FAFSA and used to determine need based aid eligibility FAFSA – Free Application for Federal Student Aid FSA ID – usernames/passwords created by student AND parent to electronically sign the FAFSA SAR – student aid report; summary of FAFSA information Grant – free money based on need Loan – money borrowed that must be paid back with interest Scholarship – free money awarded on the basis of merit, skill, or unique characteristic Verification – random “audit” of FAFSA Work study – money received from on campus employment

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 $4,300 $12,834 $46,500 Room/Meals N/A $10,696 $15,584 Books/Supplies $1,200 $1,598 $1,294 Miscellaneous VARIES COA $12,917 $30,794 $67,392 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

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

Institutional Aid Ex.

2019-20 FAFSA Available October 1, 2018 www.fafsa.gov (VERY IMPORTANT!) Student AND parent will create FSA ID usernames/passwords (fsaid.ed.gov) to sign electronically Student and parent will submit FAFSA using IRS Data Retrieval Tool to upload 2017 tax information

2019-20 FAFSA Available October 1, 2018 Complete website redesign

2019-20 FAFSA App available now for both Android/Apple “Fully functional” by October 1

fsaid.ed.gov Please record usernames, passwords, and challenge ? answers

Reasons for FAFSA HOPE Scholarship & TN Promise Student & PLUS loans Because the college said so (i.e. institutional aid)

FAFSA Checklist Student’s Social Security number Parent(s)’ Social Security number(s) Student’s driver’s license number if you have one 2017 tax information for student and parent(s) Most parents/students will upload their 2017 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

Student Demographic Information Student & Parent 2017-18 “Student Demographic Information” page.

Income from work Parents who file jointly will need W2s to manually enter income from work

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

Federal Aid Pell FSEOG Work Study $652 - $6,095 (2018-19) $652 - $6,095 (2018-19) 0 – 5486 EFC Need based (2018-19) FSEOG $100 - $4,000 Exceptional financial need Work Study Amount Varies Typically paid to student

Federal Aid Subsidized Stafford Unsubsidized Stafford Parent PLUS 5.05% fixed (2018-19) Interest does not accrue initially Unsubsidized Stafford Interest does accrue Parent PLUS 7.6% fixed (2018-19)

Federal Loan Limits

State Aid (2-yr) HOPE Scholarship GAMS Aspire Award $1,500 per semester 21 ACT/SAT or 3.0 GPA* GAMS $500 per semester 29 ACT/SAT & 3.75 GPA* Aspire Award $250 per semester Parents AGI <=$36,000 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

State Aid (4-yr) HOPE Scholarship GAMS Aspire Award $1,750/sem then $2,250/sem 21 ACT/SAT or 3.0 GPA* GAMS $500 per semester 29 ACT/SAT & 3.75 GPA* Aspire Award $750 per semester Parents AGI <=$36,000 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

State Aid continued HOPE Access Wilder- Naifeh TSAA $875/$1,250 per semester 18-20 ACT & 2.75-2.99 GPA* & AGI<$36K Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT TSAA $1,000 – $4,000 per academic year 0 – 2,100 EFC February 1 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

HOPE/GAMS/Access GPA HOPE GPA (4.0 scale) = most districts’ unweighted GPA

HOPE Renewal 24 attempted hour benchmark 48 attempted hour benchmark 2.75 cumulative GPA 24 attempted hour benchmark 48 attempted hour benchmark 3.0 cumulative GPA or 2.75 – 2.99 cumulative GPA & 3.0 semester GPA 72 attempted hour benchmark 96 attempted hour benchmark

TN Promise Checklist Apply to the Tennessee Promise program at www.TNPromise.gov by November 1, 2018 Complete 2019-20 FAFSA at www.FAFSA.gov by February 1, 2019 Attend spring mandatory meeting as coordinated by partnering organization Complete 8 hours of community service between November 2, 2018 – July 1, 2019

TN Promise (Semester) Examples A B C Tuition $2,250 -$3,250 -$1,500 $0 HOPE/Pell/TSAA -$3,250 -$1,500 $0 Gap $750 TN Promise $0 Tuition $750 $0 $2,250 $0

TN Promise (Semester) Tuition $2,250 $4,250 $10,250 -$1,500 -$1,750 Examples 2-yr Public 4-yr Public* 4-yr Private* Tuition $2,250 $4,250 $10,250 Eligible Tuition HOPE/Pell/TSAA -$1,500 -$1,750 TN Promise -$750 -$500 Your cost $0 $2,000 $8,000 *Must pursue an associate’s degree for Promise

50+ available majors with Pathways www.tntransferpathway.org Outline of required courses to follow Start at any of 13 TN community colleges All TN public universities & 21 private universities accept Pathways Guaranteed transfer of credits Combine with TN Promise to save half the cost of your bachelor’s degree

Other Information Academic Common Market CSS Profile Fee Discount Program

Foster Youth HOPE Foster Grant (14+) TN Bright Futures (16+) Chafee ETV Scholarship

University of Tennessee Vanderbilt University STEP UP Scholarship IDEAL Program Lipscomb University Union EDGE Program Union University TigerLIFE University of Memphis UT Future University of Tennessee Next Steps Vanderbilt University

Senior Year Checklist Fall Semester Spring Semester Take and retake the ACT/SAT Apply to several colleges (admissions, institutional aid, etc) and utilize their net price calculators Student AND parent will create FSA IDs (fsaid.ed.gov) to... Complete 2019-20 FAFSA available October 1, 2018 Spring Semester Complete local/private scholarship applications Review college acceptances, compare financial aid packages, ask questions, and follow up as needed

TN Reconnect Checklist Complete the TN Reconnect application at www.TNReconnect.gov. Apply to community college, TCAT, or eligible TN Reconnect institution. Submit the 2018-19 FAFSA at www.FAFSA.gov (deadline varies). Enroll in a degree or certificate program at least part-time (6+ hours).

Outreach Division

THANK YOU

TSAC Student Portal Students should review their state aid institution…

TSAC Student Portal …if institution is incorrect, click…

TSAC Student Portal 1 2 Select college from the pull-down menu. Click “process transfer request.” 1 2

Student Aid Report Important for students to review their Student Aid Report (SAR) Problems will be addressed on first page Verification indicator is an * right after the Expected Family Contribution (EFC)

Note the asterisk and the sentence regarding verification.

Common FAFSA Issues Social Security Number Name (must match Social Security card) Date of birth Missing signatures

Common FAFSA Issues Grade level: 1st year graduate/ professional Degree: Graduate/ professional Income and tax manually reported as same number Parent and student report same income

Home School (2-yr) HOPE Scholarship GAMS Aspire Award $1,500 per semester 21 ACT/SAT GAMS $500 per semester 29 ACT/SAT & See brochure Aspire Award $250 per semester Parents AGI <=$36,000

Home School (4-yr) HOPE Scholarship GAMS Aspire Award $1,750/sem then $2,250/sem 21 ACT/SAT GAMS $500 per semester 29 ACT/SAT & See brochure Aspire Award $750 per semester Parents AGI <=$36,000

State Aid HOPE Scholarship GAMS Ned McWherter $1,500/$1,750 per semester 21 ACT/SAT or 3.0 GPA* GAMS $500 per semester 29 ACT/SAT & 3.75 GPA* Ned McWherter Up to $6,000/ academic year 29 ACT & 3.5 GPA* February 15 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

Certificate/ Diploma TCAT Other State Aid Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT TSAA $1,000 – $4,000 per academic year 0 – 2,100 EFC February 1 Ned McWherter Up to $6,000/ academic year 29 ACT & 3.5 GPA* February 15 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

Certificate/ Diploma TCAT State Aid TSAA $1,000 – $4,000 per academic year 0 – 2,100 EFC February 1 HOPE Scholarship $1,500/$1,750 per semester 21 ACT/SAT or 3.0 GPA* Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT *All courses calculated on a 4.0 scale per the Uniform Grading Policy

Dual Enrollment Grant $500 (1) $500 (2) $200 (3) $0 (4) $300 (5)* 11th Fall $500 (1) $500 (2) 11th Spring $200 (3) $0 (4) 12th Fall $300 (5)* $300 (6)* 12th Spring $300 (7)* $300 (8)* *Subject to one-time HOPE Scholarship reduction

ACT ACT TEST DATE REGISTRATION DEADLINE LATE FEE DEADLINE September 8, 2018 August 12, 2018 August 26, 2018 October 27, 2018 September 28, 2018 October 14, 2018 December 8, 2018 November 2, 2018 November 19, 2018 February 9, 2019 January 11, 2019 January 18, 2019 April 13, 2019 March 8, 2019 March 25, 2019 June 8, 2019 May 3, 2019 May 20, 2019 July 13, 2019 June 14, 2019 June 24, 2019

SAT SAT TEST DATE REGISTRATION DEADLINE LATE FEE DEADLINE August 25, 2018 July 27, 2018 August 15, 2018 October 6, 2018 September 7, 2018 September 26, 2018 November 3, 2018 October 5, 2018 October 24, 2018 December 1, 2018 November 2, 2018 November 20, 2018` March 9, 2019 February 8, 2019 February 27, 2019 May 4, 2019 April 5, 2019 April 24, 2019 June 1, 2019 May 3, 2019 May 22, 2019

Eligibility A student must possess a valid SSN and be a U.S. citizen or an eligible noncitizen as defined by FAFSA…

Ineligibility A student will NOT qualify for federal or state aid if he or she has… Been granted Deferred Action for Childhood Arrivals (DACA) A F1 or F2 student visa A J1 or J2 exchange visitor visa A G series visa (pertaining to international organizations)

DACA SSN Card