Student Financial Aid Campus 411-All-in

Financial Aid Video 23SMf5DyQ?list=PL23B9A23CD 8DD82DD

Philosophy of Financial Aid Financial aid is available to all families regardless of family income or college cost. It is the primary responsibility of the family to pay the educational costs to the extent that they are able.

1.Review different types of aid and how to seek opportunities for each 2.Explore the FAFSA, the Free Application for Federal Student Aid 3.Understand the payment and financing process Tonight we will:

Financial aid offers opportunities to defray immediate, out of pocket cost to a college or university. PRICE FIN AID COST

Steps to complete your FAFSA

The FAFSA will use 2015 W2 and federal tax information It is OK to use estimated income information Submit the FAFSA as soon as possible after January 1 st Complete the FAFSA every year Check priority deadlines at every school you are considering. March 1 is the common date. FAFSA on the Web Guidelines

FAFSA on the Web Checklist

FAFSA on the Web There is a student and parent section Must log in with student info to begin new application “Help and Hints” box

Dependency Status If student cannot answer “yes” to at least one of the questions listed, they will be considered dependent and must include parent information

IRS Data Retrieval Tool

What are assets?  Cash, savings, and checking accounts  Other real estate, installment and land contracts  Mutual funds, money market funds, CDs  Stocks and stock options  Bonds, commodities and precious metals

What are NOT assets?  Retirement accounts (IRAs - non- education, 401K, 403B) The home you live in Cash value of life insurance policies Family farm Family owned and controlled small businesses (100 or fewer fulltime employees)

 529 College Savings Plans and Prepaid Tuition Plans  Treated same as mutual funds, CD’s and other investments.  If the student is dependent (for financial aid purposes) the 529 plan is a parent asset.

Read instructions and complete all sections carefully Errors on the FAFSA or supplemental forms may delay application processing and result in loss of financial aid funds Avoid Errors!

Social Security numbers/dates of birth Divorced/remarried parental information Income earned by parents/stepparents US income taxes paid Frequent FAFSA Errors!

Sign & Submit (for student & parent) Student will use their FSA ID to sign Parent will use their own FSA ID to sign as well

Dept. of Education FAFSA on the Web College receives electronic copy of FAFSA Student receives eSAR

Is an Index number and not a dollar amount Determines if student is eligible for federal or state grants Number must be between for the federal pell grant (based on full time enrollment for academic year) State grant amounts may differ based on type of university (public vs. private) Does not affect ability to receive federal student loans What is the EFC?

Types of Financial Aid

Scholarships Business and Industry Faith based organizations Parents employment State grants and scholarship agencies University website

Financial aid comes in a variety of different forms. INSTITUTIONALGOVERNMENT Gift Aid ScholarshipsGrants Self-Help Aid Student Employment Student Loans Federal Work Study

Scholarships Hints and Tips  Start early  Talk with counselors, teachers, neighbors and relatives  Complete every application carefully  Be aware of deadline dates  Stay local

Pell Grant Supplemental Educational Opportunity Grant (SEOG) Ohio College Opportunity Grant (OCOG) Grants

Federal Student Loans Federal Direct Stafford Loan Subsidized- need based and interest free while in school Unsubsidized- accrues interest while in school Loans:

Federal Parent Loan Federal Direct Parent PLUS Alternative loans - Non federal (through a bank, credit union, state agency or school) Loans

Three Main Costs - Visit university’s billing office for tuition costs. - Visit university’s residence life website for housing and meal plan costs. Visit FAFSA4Caster Figuring Out Your Cost

Entrance Counseling & Master Promissory Note for federal student loans. -Mandatory -Completed online at Review the National Student Loan Database System (NSLDS) Managing Your Student Loans

All-in-1 Enrollment Services Your Point of Contact at CSU Like All-in-One on Facebook for up-to-minute information, reminders, and due dates: facebook.com/allin1enrollmentservices