1 Applying for Financial Aid

2 Sponsors/Partners: Presenter:

3 What Will You Learn Today? Types and sources of financial aid Required financial aid application forms How to complete the Free Application for Federal Student Aid (FAFSA) Answers to your individual questions

4 Types of Financial Aid Gift Aid - Grants or scholarships that do 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

5 Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers Sources of Financial Aid

6 Louisiana State Aid Taylor Opportunity Program for Students (TOPS) TOPS Tech Early Start Program TOPS Tech Early Start Go Grant Rockefeller State Wildlife Scholarship START Saving Program LOSFA administered Federal Programs: LEAP and Louisiana Guaranteed Student Loans

7 TOPS: Application Two methods for applying for TOPS: FAFSA (Free Application for Federal Student Aid) – Preferred application Must be completed if the student is eligible for federal grant aid (Pell Grant) Must be completed if the student is seeking any other form of financial aid The only application needed for TOPS TOPS Online Application – May only be completed by students who can certify that they do not qualify for federal grant aid In the event of a budget shortfall, students completing the TOPS Online Application will be the first to lose their TOPS award Do not complete if you have completed the FAFSA

8 TOPS: Application Deadlines 2010 Graduates Initial Application Received:Receives TOPS funding for: January 1. – July, 1, semesters (12 quarters) Beginning July 2, 2010 – July 1, semesters (12 quarters) Beginning Fall 2011 July 2, Aug. 30, semesters (10 quarters) Beginning Fall 2011 Aug. 31, 2011 – Oct. 29, semesters (9 quarters) Beginning Fall 2011 Initial Applications Received After October 29, 2011 Ineligible for TOPS Award

9 TOPS: Processing Cycle LOSFA receives ACT or SAT scores electronically based on inclusion of TOPS code on test registration (ACT:1595, SAT: 9019 LOSFA receives transcript data from the Department of Education after high school graduation Once all required data is received, TOPS eligibility is determined each Thursday night TOPS eligibility letters are mailed each Friday. Students can also check their award status on the TOPS Portal located on A Master Roster of TOPS eligible students is available for colleges to download every Monday

10 TOPS: Eligibility For TOPS standard eligibility and renewal requirements refer to table in TOPS brochure x1012

11 LASFAA: Mildred D. Higgins HS Scholarship The Louisiana Association of Student Financial Aid Administrators (LASFAA) will award at least four $500 scholarships to Louisiana Students planning to attend member institutions. These are non-renewable awards. Application Deadline: April 18, High School seniors who will graduate in May 2010 can apply online at Contact:

12 Types of Applications FAFSA (Insert required state forms, if any) Other applications or forms as required by the college such as: 2009 federal tax returns (along with schedules and W-2s) or other income/asset documentation CSS/Financial Aid PROFILE Institutional scholarship and/or financial aid applications

13 FAFSA Information & Tips File as soon as possible Use estimated 2009 income information if 2009 taxes are not complete at time of FAFSA submission The student and at least one parent whose information is required must complete and sign the FAFSA

14 FAFSA ON THE WEB Internet application used by students and parents to complete electronic FAFSA at Sophisticated on-line edits and skip logic so that errors are less likely to be made On-line help is available for each question Student and at least one custodial parent should get a federal PIN at

15 Federal PIN PIN (Personal Identification Number) serves as the electronic signature on ED documents Both student and at least one custodial parent need PIN to sign the FAFSA electronically May be used to: Check on FAFSA status Verify and correct FAFSA data Add additional schools to receive FAFSA data Change home and addresses If an address is provided, PIN will be ed to the PIN applicant within hours Apply for student and parent PINs at

16 Getting Ready Before starting the FAFSA, gather: Student driver’s license Student Alien Registration Card Student and Parent Social Security cards 2009 W-2 Forms and other records of money earned 2009 federal income tax form (even if not completed) 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

17 FAFSA on the Web Worksheet The FAFSA on the Web Worksheet may be used for the January 1, 2010 through June 30, 2011 federal aid application cycle

18 The FOTW Worksheet A Four Section Form Section 1–is about the student Section 2–determines student dependency status Section 3–collects parental information for dependent students Section 4–collects student finances and information about the independent student

19 Section 1 (page 2) STUDENT INFORMATION

20 Section 1 Student Name The FOTW will ask for the student’s last name, first name, and middle initial Make sure to report the student’s name exactly as it appears on the student’s Social Security card J O N E S J A N E

21 Section 1 Student Social Security Number Double check the student’s Social Security Number when entering it on the FOTW. Both student name and Social Security Number will be compared through a national database match

22 If U.S. citizen, status will be confirmed by Social Security match If eligible noncitizen, status will be confirmed by Department of Homeland Security (DHS) match. This includes: U.S. permanent residents with I-551 Conditional permanent residents with I-551C Eligible noncitizens with I-94 If neither a citizen or eligible noncitizen, the student is ineligible for federal/state aid, but might still be eligible for institutional funds Section 1 Citizenship Status

23 Section 1 Alien Registration Number If an eligible noncitizen, write in the student’s eight- or nine-digit Alien Registration Number (ARN) Precede an eight-digit ARN with a zero Copy of Permanent Registration Card might be requested by the Financial Aid Office

24 Section 1 Undocumented Students if the student is applying to any public college or university, check to see if the student might be eligible for in-state tuition costs check with colleges and universities to see if institutional financial aid is available apply for all private scholarships for which the student may be eligible watch for changes in federal and state laws regarding the eligibility of undocumented or under-documented students start inquiring in elementary, middle or high school to see if it is possible for younger students to become permanent residents For more information and a list of scholarships, go to NOTE: if the student is undocumented or under-documented

25 Section 1 Student Marital Status The student should check his or her marital status as of the date the FAFSA on the Web is completed If the student is married or remarried, he or she will be asked to provide information about his or her spouse

26 Section 1 Selective Service Registration Male students who are between the ages of 18 and 26 years of age must be registered with Selective Service to receive federal and state aid Answer “Register me” only if the student is male, aged 18-26, and has not yet registered. The student may also register by going to:

27 If the student has never attended college since high school, check “Never attended college” If the student has attended college since high school but never received federal student grants, loans or work-study, check “I have never received federal student aid” If the student has received federal student aid and has never had a drug conviction, check “I have never had a drug conviction” Section 1 Student Aid Eligibility Drug Convictions

28 If the student was convicted of the possession or sale of illegal drugs while receiving federal student aid, the student will be asked to complete more questions about the drug offense Simply having a drug conviction does not mean that the student will be ineligible for federal student and/or state student aid Section 1 Student Aid Eligibility Drug Convictions

29 Section 1 Parents’ Educational Level Indicate highest level of schooling completed by the student's biological or adoptive parents Use birth parents or adoptive parents - not stepparents or foster parents This definition of parents is unique to these two questions

30 Section 1 Student State of Legal Residence An important question NOT on the Worksheet: Student State of Legal Residence Residency relates to the student’s permanent home state if the student is dependent, the state of legal residence is usually the state in which the custodial parent(s) live State of legal residence is also used to determine eligibility for state grants in the need calculation to determine the appropriate allowance for state and other taxes paid by that state’s residents

31 High School Completion Status When the student begins college in the school year, what will be the student’s high school completion status? High school diploma GED certificate Home schooled None of the above Section 1 High School Completion Status An important question NOT on the Worksheet:

32 Grade Level in When the student begins the school year, what will be his/her grade level? Never attended college/1 st year Attended college before/1 st year 2 nd year/sophomore 3 rd year/junior 4 th year/senior 5 th year/other undergraduate 1 st year graduate/professional Continuing graduate/professional or beyond Section 1 Grade Level in An important question NOT on the Worksheet:

33 Degree or Certificate In the school year, what degree or certificate will you, the student, be working on? Some options are: - 1 st bachelor’s degree - Associate degree (occupational or technical program) - Associate degree (general education or transfer program) - Graduate or professional degree Section 1 Degree or Certificate Objective An important question NOT on the Worksheet:

34 Section 1 Student Expected Enrollment Status at the Start of the Academic Year When the student begins the school year, what does he/she expect his/her enrollment status to be? - full-time - ¾ time - half-time - less than half-time - don’t know Report the student's enrollment plans for the college he/she is most likely to attend If unsure, report “full-time” An important question NOT on the Worksheet:

35 Section 1 Work-study, Loans, and TEACH Program If the student is interested in work-study (student employment), student loans, or the TEACH Program, check all appropriate boxes Indicating interest does not obligate the student to either work or borrow, nor will it cause the student to lose grants and scholarships Not checking work-study and/or loans may restrict some options for limited work-study or loan funds An important question NOT on the Worksheet:

36 Section 1 School Selection FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information The student should list the schools he/she is most likely to attend, and then list others to which the student is applying for admission An important question NOT on the Worksheet:

37 Section 1 School Selection While in the School Selection Section, the student will be asked to enter the federal school code for each school to which he/she wants information sent If the student does not know the federal school code, enter the state in which the college/university is located and search for the federal school code by the college/university name An important question NOT on the Worksheet:

38 Section 1 School Selection An important question NOT on the Worksheet: The student will be asked to select the housing plan that best describes the type of housing the student expects to have while attending each listed school The choices for housing are: On Campus With Parent Off Campus The student’s choice of housing may affect the amount of financial aid for which he/she is eligible. It is usually more expensive to live on or off campus than with parents or relatives Remember, selecting a housing option is not an application for On Campus housing. Check with the colleges/universities for housing information

39 Section 1 School Information For TOPS purposes you MUST list a Louisiana school first List schools with the earliest financial aid deadlines If the student is applying to more than ten schools, wait for the processed Student Aid Report (SAR) and add additional schools via the Web or by phone using the student PIN Strategies for Listing Colleges

40 Section 2 (page 2) STUDENT DEPENDENCY STATUS

41 Section 2 Determination of Student Dependency Status If the student checks none of the boxes about Dependency Status, the student will be asked to go to Section 3. For FAFSA filing purposes, the student is considered a dependent student and will be required to provide parental information If the student is able to check any one of the questions in this section, he or she should skip Section 3 and go to Section 4. The student is considered an independent student for FAFSA filing purposes and is NOT required to provide parental information

42 Section 2 Determination of Student Dependency Status

43 Section 3 (page 3) PARENT INFORMATION

44 Section 3 Who is Considered a Parent See Page 3 of FAFSA on the Web Worksheet about who is considered a parent Biological or adoptive parent(s) Stepparent (regardless of any prenuptial agreement) In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months

45 Section 3 Who is Not a Parent Do not provide information on: Foster parents or legal guardians If the student is in foster care or has a legal guardian, he/she is automatically considered an independent student Grandparents or other relatives The student must attempt to get biological parental information Colleges may use Professional Judgment to allow the student to file as independent

46 Section 3 Parent Information, 0 If the answer to any question is zero or the question does not apply, enter 0: Report whole dollar figures: Recommendation: If the parents have not filed their 2009 federal tax return, use 2009 W-2 forms and/or other 2009 employment records - such as final pay check stubs - to estimate total taxable income Remember, rather than miss any filing deadline, use estimated 2009 income information 1 2 $ (no cents), $

47 Section 3 Parent Information If the student is providing father’s/stepfather’s and/or mother’s/stepmother’s information, the student will need those parents’: Social Security Numbers Names Dates of Birth

48 Section 3 Dislocated Worker The student will be asked to check if the father/stepfather and/or mother/stepmother is a dislocated worker A person may be considered a dislocated worker if he/she: is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation has been laid off or received a lay-off notice from a job was self-employed but is now unemployed due to economic conditions or natural disaster is a displaced homemaker

49 Section 3 Parents’ Tax Return Filing Status for 2009 The student will be asked to provide information about parent tax filing status for 2009: If his/her parents have completed their 2009 federal income tax return, mark the first box If they have not as yet filed, but plan to file a 2009 federal income tax return, mark the second box If they have not, nor will not, file a 2009 federal income tax return and are not required to do so, mark the third box

50 Section 3 Parent 2009 Adjusted Gross Income Reminder: If the answer is zero or the question does not apply, enter 0 If the student’s parents have not yet filed their 2009 federal tax return, use estimated information for this question If the student’s parents have completed their 2009 federal tax return, use actual 2009 tax return information to complete this item. $$$$$$

51 Section 3 Money Earned from Work by Parent(s) in 2009 Use W-2 forms and other records to list all income earned from work in 2009 (including business income earned from self-employment) for father/stepfather and/or mother/stepmother $$$,$$$

52 Section 3 Parents’ Household 2008 or 2009 Benefits Received Indicate if the student, his/her parents, or anyone in the parents’ household received benefits in 2008 or 2009 from any of the federal programs listed: Supplemental Security Income (SSI) Food Stamps Free or Reduced Price School Lunch TANF WIC

53 Section Additional Financial Information The student will be asked to report if his or her parents received or paid any of the following items in 2009 (check all that apply) - Hope and Lifetime Learning tax credits - Child support paid - Taxable earnings from work-study, assistantships, or fellowships - Grants and scholarship aid reported to the IRS - Combat or special combat pay - Cooperative education program earnings

54 Section Parent Untaxed Income The student will be asked to report if his or her parents had any untaxed income in Check all that apply. Some examples of the most common items are: - Payments to tax-deferred pensions and savings plans such as 401Ks, IRA deductions, and payments to self-employed SEP and Keoghs - Tax exempt interest income - Child support received - Housing, food and other living allowances paid to members of the military and clergy

55 Section 3 Parent Assets NOTE: Some financial aid offices may request supporting documentation for the answers to these questions Parents may be asked to report their assets. If so: List the net value of parents’ assets as of the day the FAFSA is completed If net worth is one million dollars or more, enter If net worth is zero, enter $ 9 9 9, 9 $ 0,

56 Section 3 Parent Assets Parents may be asked to report the current balances of their cash, savings, and checking accounts as of the day they complete the FAFSA They may also be asked to provide information about the net value of their investments such as real estate, rental property, money market and mutual funds, stocks, bonds and other securities In addition, they may be asked questions about the net value of their businesses and investment farms They should not include the home they live in, the value of life insurance and retirement plans, or the value of a family-owned and controlled small business

57 Section 3 Parent Address Provide a parent address that will be valid at least until the student starts college If a parent provides an address, the FAFSA processor will let the parent know the student’s FAFSA has been processed An important question NOT on the Worksheet:

58 Section 3 Parent Household Size Parent Number in Household Include in the parents’ household: the student parent(s) parents’ other dependent children, if the parents provide more than half their support or the children could answer “no” to every question in Section 2, regardless of where they live other people, if they now live with the parents and will continue to do so from 7/1/10 through 6/30/11, and if the parents provide more than half their support now, and will continue to provide support from 7/1/10 through 6/30/11 An important question NOT on the Worksheet:

59 Section 3 College Students in the Parent Household NOTE: Some financial aid offices will require proof that other family members are attending college College Students in the Parent Household Always include the student even if he/she will attend college less than half-time in Include other household members only if they will attend at least half-time in in a program that leads to a college degree or certificate Never include the parents An important question NOT on the Worksheet:

60 Section 3 Parent 2009 U.S. Income Taxes What was the amount parents paid in U.S. income tax for 2009? –Use U.S. income tax paid (or to be paid) not the amount withheld from parents’ paychecks An important question NOT on the Worksheet :

61 Section 3 Parents’ 2009 Tax Exemptions Enter the parents’ tax exemptions for 2009 Exemptions can be found on their IRS tax return Be sure to include all persons being claimed on the parents’ 2009 federal tax return, regardless of whether they are included in the parents’ household size question An important question NOT on the Worksheet:

62 Section 4 (page 4) STUDENT INFORMATION

63 Section 4 Student Information Questions in Section 4 are identical to the parent financial questions we covered in Section 3 If the student is single, ignore references to “spouse” If the student is married, report spouse’s income and assets The questions in Section 4 ask: Which 2009 Federal income tax return the student filed or will file? The student’s 2009 Adjusted Gross Income, if filing a tax return, and earnings from work as well as untaxed income and assets

64 Section 4 Student Dislocated Worker A person may be considered a dislocated worker if he/she: is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation has been laid off or received a lay-off notice from a job was self-employed but is now unemployed due to economic conditions or natural disaster is a displaced homemaker

65 Section 4 Student Information (Independent Students) There are questions in Section 4 that the student will be asked only if he/she checked at least one response in Section 2 – Student Dependency Status

66 Section 4 Student Benefits (Independent Students) Indicate if the student, his/her spouse, or anyone in the student’s household received benefits in 2008 or 2009 from any of the federal programs listed: Supplemental Security Income (SSI) Food Stamps Free or Reduced Price School Lunch TANF WIC

67 Section 34 Student Household Size Include in the student’s household: the student and the student’s spouse (if married) the student’s dependent children, if the student provides more than half their support other people, if they now live with the student and will continue to do so from 7/1/10 through 6/30/11, and if the student provides more than half their support now, and will continue to provide support from 7/1/10 through 6/30/11 An important question NOT on the Worksheet:

68 Section 4 Student Number in College (Independent Students) Count the student even if he/she will attend college less that half-time in Include others only if they will attend at least half-time in in a program that leads to a college degree or certificate An important question NOT on the Worksheet:

69 DO NOT MAIL THIS WORKSHEET Go to to complete and submit your application. For more information on federal student aid, visit You can also talk with your college’s financial aid office about other types of student aid that may be available.

70 Special Circumstances Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as: Loss or reduction in parent or student income or assets Death or serious illness Natural disasters affecting parent income or assets Unusual medical or dental expenses not covered by insurance Reduction in child support or other untaxed benefits Financial responsibility for elderly grandparents Or any other unusual circumstances that affect a family’s ability to contribute to higher education

71 Application Filing Tips FAFSA on The Web Gather necessary documents ahead of time Complete a FAFSA on the Web Worksheet available at Allow ample time to complete form for submission by deadline Check the FAFSA for accuracy prior to submission Save all work periodically Sign the application using student and at least one custodial parent’s PIN Print out a copy of the FAFSA before submitting data Keep a copy of the Submission Confirmation Page

72 What Happens Next? Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor  Students and families review SAR for important information and accuracy of data  Colleges match admission records with financial aid applications and determine aid eligibility  Colleges mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms

73 Student Aid Report (SAR) After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment will be sent if student provides an address A paper SAR will be mailed if no student address is provided An electronic copy of the data will be sent to each college or university listed by the student in Section 1 Keep a copy of the SAR with other financial aid documents

74 Summary of the Financial Aid Process Submit all required forms, including the FAFSA, by each college’s published deadlines (insert any special state deadlines) Keep a copy of all forms submitted Review the electronic Student Aid Report (SAR) Acknowledgement or the paper SAR sent to the student Watch for financial aid award notifications from colleges to which the student has been admitted Be sure to apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible ASK QUESTIONS!

75 Questions and Answers