FREE APPLICATION FOR FEDERAL STUDENT AID FAFSA

WHAT IS THE FAFSA? Free Application for Federal Student Aid Administered by the office of Federal Student Aid, part of the U.S. Department of Education Provides a snapshot of the student and parents’ financial situation Must be completed each school year that you wish to apply for financial aid for higher education

WHY COMPLETE A FAFSA? FAFSA is used to determine eligibility for federal student aid programs Grants: do not have to be repaid Loans: must be repaid with interest Work-study: earn money while enrolled in school to help pay for education expenses Most states and colleges use your FAFSA to determine eligibility for state and school aid

EXPECTED FAMILY CONTRIBUTION (EFC) FAFSA is used to calculate your Expected Family Contribution (EFC), an indicator of the family’s financial strength to pay for higher education EFC is not the amount of money that your family must provide School uses the EFC amount to determine the amount of financial aid you are eligible to receive

WHEN SHOULD I SUBMIT? As early in 2013 as possible Ideally, you should submit a FAFSA after you’ve completed your 2012 tax return IRS Data Retrieval Tool (DRT) can import information directly from your completed tax return into your FAFSA Many school financial aid deadlines are prior to the tax filing deadline Check with individual institutions to ensure that you don’t miss their deadline Amounts must be estimated if return not filed prior to completing FAFSA Corrections will need to be made using DRT if estimated amounts do not match actual tax return

FAFSA DAY Program offered by College Foundation of North Carolina (CFNC), the North Carolina Association of Student Financial Aid Administrators and the State Employees’ Credit Union (SECU) Financial aid officers and other volunteers help students complete FAFSA forms Offered at many college campuses across the state If county has no public site, SECU branches will be open to the public, otherwise will be open to members only FAFSA Day 2013 is February 23 rd Visit to registerwww.cfnc.org/fafsaday

WHAT DO I NEED TO COMPLETE FAFSA? Following documents for student and parents should be available: 2012 income tax return, if completed Social Security Numbers Driver’s licenses (if any) 2012 W-2 forms and other income documents Records of child support paid Records of student grant, scholarship and fellowship aid Current stock, bond, and other investment records Current business and farm records Current bank statements

FEDERAL STUDENT AID PIN If submitting electronically, parents and student are encouraged to apply for a Federal Student Aid PIN prior to completing a FAFSA Serves as an identifier and as your electronic signature PIN will also be needed to: Access your Student Aid Report online Access your data to make corrections Complete a FAFSA Renewal if submitted in a previous year Apply for a PIN at –

WHAT HAPPENS AFTER I SUBMIT APPLICATION? Within 3-5 days of submitting your FAFSA, a link to your Student Aid Report (SAR) will be sent via Summary of application information Expected Family Contribution (EFC) SAR is also sent to the schools listed on application Each school you list on the FAFSA will notify you of the aid package you are eligible for Federal aid will be paid to you through your school

FAFSA ON THE WEB Submit online at Faster and easier than using a paper FAFSA Built-in help to guide you through the application process Skip logic guides you to answer key questions and may allow you to skip other questions Schools you list on your application will receive your processed information faster

OTHER FINANCIAL AID FORMS Other forms may be required by the college or university of your choice College Scholarship Service PROFILE Used by some colleges and universities for awarding their own need-based student financial aid funds Specific college merit scholarship applications Often with fall deadlines – apply early! Scholarship applications from sources outside the college or university (foundations, clubs, etc.) may also be required Check with school counselor Fraternal, civic and church groups in your area Check with school to see which forms they require

HOW WILL I AFFORD COLLEGE? Federal aid programs Need based grants and scholarships Merit based and other scholarships

MAJOR FEDERAL GRANT PROGRAMS Pell Grants Teacher Education Assistance for College and Higher Education (TEACH) Grants Iraq and Afghanistan Service Grants

FEDERAL LOAN PROGRAMS William D Ford Federal Direct Student Loans Subsidized – government pays interest while you are in school and while your payments are deferred Unsubsidized Direct PLUS Loans Unsubsidized loans made to parents of dependent undergraduate students and to graduate or professional students

NEED BASED GRANTS AND SCHOLARSHIPS North Carolina Education Lottery Scholarship North Carolina Community College Grant UNC Need-Based Grant North Carolina Need-Based Scholarship Federal Supplemental Educational Opportunity Grant Program

MERIT BASED AND OTHER SCHOLARSHIPS Based on merit – special talent, achievement or skill – not on financial need Many scholarships available from colleges and universities, as well as foundations and other organizations For complete list of scholarship and grant opportunities available to N.C. students visit –

“PEOPLE HELPING PEOPLE” SCHOLARSHIP PROGRAM Offered by SECU Foundation Each traditional public high school in North Carolina receives one scholarship valued at $10,000 ($1,250 per semester) Must attend one of the 16 constituent campuses of the UNC System No formal application Recipients are selected by high school’s Scholarship Selection Committee and school counselors Each N.C. community college also receives two $5,000 scholarships to award