2. Welcome
What IS the fafsa?

3. What is the FAFSA?
The FAFSA® (Free Application for Federal Student Aid) is a federal form used to determine student eligibility for the following:
Federal programs (studentaid.ed.gov) Pell Grants, campus-based aid, TEACH Grants and student loans
State programs ( Pennsylvania State Grant, State Work-Study and other special programs
School programs Need-based grants and scholarships

4. What is the FAFSA? The FAFSA®
Information also used by PHEAA to determine state aid
Some organizations use information to determine eligibility for scholarships
Must be completed every year
Will not qualify if you do not apply

5. What is the FAFSA?
Who needs to apply? All students who wish to be considered for financial aid and plan to attend a post-secondary education school.
Why is the info needed? All data is used to calculated the student’s Expected Family Contribution, which is the primary resource used to assist schools with awarding financial aid
When should the form get completed? On or after October 1, using the Federal tax returns from the Prior-Prior Year (PPY)

6. FAFSA.gov Click here for initial FAFSA
Click here for saved applications, corrections, or renewal FAFSA
Click here for initial FAFSA

7. Login Review Help and Hints sections to answer questions
Where you see the student bar, only enter student information. Parent information goes in a separate section.

8. Select the correct FAFSA year
If starting classes in summer, check with your college.

9. More Help Information. If you don’t want to read these help topics, just click “NEXT”.

10. Know your Deadlines
When To Apply?

12. Know When To Apply
Federal Deadlines - Apply anytime after October 1st for the upcoming academic year (July 1st through June 30th)
Seniors: after Oct 1st | Juniors: after Oct 1st 2017
School Deadlines – deadlines vary amongst schools
PA State Grant Deadlines for FAFSA
May 1, 2017 – First-time and renewal students attending colleges, universities & college transferrable programs (excluding community colleges)
August 1, 2017 – First-time students attending community college; a business, trade or technical schools, hospital school of nursing; Open Admissions Institutions or a 2-year non-transferrable degree program at a Jr or 4-year college.

13. WHAT WILL I NEED?

14. Postsecondary School Selection
List up to 10 schools at a time
Do not have to be accepted to school to list them
Enter school code or look them up

15. Items needed to complete the FAFSA
Applicants may need the following items to file the FAFSA:
FSA ID (UserName and Password obtained at fsaid.ed.gov)
Social security numbers
Prior Prior year’s Federal income tax returns (1040, 1040A or 1040EZ)
W-2 forms from all employers
Current bank statements (checking and savings)
Current business and farm records
Records of any stocks, bonds and other investments, including 529 accounts
Additional untaxed income tax records may be needed such as: Veteran’s non educational benefits, child support paid/received and workers compensation.
Alien registration or permanent resident card (if not a US citizen)
**These items are also listed on the FAFSA Tipsheet

16. FSA ID Get your FSA ID PRIOR to sitting down to complete the FAFSA
Sign the FAFSA Electronically
The student and 1 parent will need an FSA ID
Do NOT lose it; write it down and store in a safe place (write down the challenge question answers, too)
Do NOT share it with anyone
You will need your FSA ID every year you file a FAFSA and to log in to sign loan paperwork

17. Whose Info Goes on the FAFSA?
Dependent Student and Parent(s)
Divorced or Separated Parents -> Custodial Parent: the parent that you lived with most during the last 12 months, if equal: the parent that provided the most financial support
Divorced/Separated parents who live in the same household
Same Sex Parents
Stepparents
Adoptive parents
Foster parents - No
Legal guardians - No
Anyone else the student is living with - No

18. (PA State Grant status can be different)
Who Is Independent?
24 or older on Jan 1st of award year (January 1, 1994)
Married
Veteran (includes active duty personnel)
Working on graduate level degree
Emancipated minor in legal guardianship
Orphan, in foster care or ward of the court at anytime when student was age 13 or older
Have legal dependents other than spouse
Student deemed homeless by proper authority
(PA State Grant status can be different)

19. Parent
Demographics
Marital status (stepparent info is required) Determine household size and number in college
Note: Parent’s last names must match SSN

20. Dependency
All “no” answers = dependent student (most HS students) Any “Yes” answers = additional questions to determine independent status

21. Income & asset information

22. Complete the address information as it appears on your tax return
These fields are pre-filled based on FAFSA responses
Complete the address information as it appears on your tax return

23. Student Financial Information
Use IRS DRT (or you can manually enter information) If student did not file or wasn’t required to file, answer appropriately (you would still report any income earned or untaxed income paid to the student)

24. Income Information
The FAFSA always requires applicants to use prior-prior year income.

25. Asset Information

26. The Expected Family Contribution (EFC)
Why Complete the FAFSA:
The Expected Family Contribution (EFC)

27. Expected Family Contribution (EFC)
Determining Need-Based Eligibility
Student submits FAFSA
Family undergoes Need Analysis
Expected Family Contribution (EFC) is determined based on:
Parent income and assets
Student income and assets
Family size
Number of children in college
Age of the older parent
This is NOT necessarily the amount you will pay each year!
Cost of Attendance
Expected Family Contribution (EFC)
COA – EFC = Financial Need

28. How is the EFC Calculated?
EFC formula considers a family’s taxed & untaxed income, assets, size, how many will be attending college, and age of oldest parent
Includes allowances for taxes and focuses mainly on income
Parent + student contribution = EFC
COA (Cost)
- EFC
= NEED

29. How is the EFC Calculated?
Asset Protection Allowance is applied against parent’s reported assets
EFC calculation roughly uses 6% of parent asset contribution and 20% of student contribution
Student income contribution used in the calculation: 50% of amounts over $6,420
Parent contribution divided by number of children in college at the same time
COA (Cost)
- EFC
= NEED

30. How is the EFC Calculated?
Simplified formula – no student or parental assets are considered, and applies when:
Anyone in the household receives means-tested benefits; or
Parents filed or are eligible to file a 1040A or 1040 EZ, or filed a and were not required to do so, or were not required to file any income tax return; or
Parent(s) is a dislocated worker; and/or
Parents’ income is less than $49,999
Automatic Zero EFC – same conditions as above, but parental annual income $25,000 or less

31. Sign & Submit the Forms

32. Sign and submit (Parent)
Select which parent has the FSA ID Agree to the statement Type in their FSA ID Click “Sign” Click “Submit My FAFSA Now”

33. Print this page for your records
Confirmation
Page
Print this page for your records
Shows your EFC, Pell, and Loan

34. State Grant
Form (SGF)
Click on “Start Your State Application” to complete the SGF First-time filers only

36. Print & Mail

37. Student receives an email from FSA
What
Happens
Next
Student receives an from FSA

38. FAFSA TIPS

39. Special Circumstances
Recent death or disability
Reduced income
Recent separation or divorce
Contact the school and ask for a special consideration AND contact State Grant Division at PHEAA

40. FAFSA Tips Make sure you’re on the government site (fafsa.gov)
Don’t mix answers for student and parent information
Ensure SSN accuracy
Use legal name as it appears on social security card
Use addresses and phone numbers that will not change.
Have federal income tax and other related information as references

41. More FAFSA Tips
Don’t use your browser navigation buttons. Use the navigation buttons within the FAFSA.
If you are unable to use the IRS Data Retrieval Tool, you can manually type your tax return info and try the IRS Data Retrieval Tool again later.
Remember to complete the PA State Grant form from the confirmation page.
Don’t delay – know your school deadlines and try to meet them!

42. Forms Are Filed…
NOW WHAT?

43. Financial Aid Award Letter
Presented by the school and typically includes:
Cost of Attendance (COA)
Types and amounts of financial aid offered
Conditions that are placed on the awards
Steps the student must take to accept the package
Student’s rights and responsibilities
Renewal, revision and appeal processes
Policy on Satisfactory Academic Progress

44. What School Costs Are Considered?
School costs include:
Tuition and fees
Room and board
Books and supplies
Transportation
Miscellaneous living expenses
Child care, if necessary
You can receive financial aid up to the total of the school costs, regardless of your EFC!

45. Page 9 PA Student Aid Guide
Net Price Calculators
The Higher Education and Opportunity Act (HEOA) of October 2011 requires schools to offer a Net Price Calculator on their websites
Enables current and prospective students, families and consumers to determine an estimate of an individual net price at a particular institution.
ESTIMATED data must be provided by each institution:
Total price of attendance
Tuition, Fees, Room and Board
Expenses (ie. personal, transportation)
Estimated total merit and need-based grant aid
Estimated net price (attendance minus grant aid)
Does not include scholarships
( Usually on the Fin Aid pages, or Admission pages.. But it’s there to ESTIMATE costs… doesn’t account for internal or external scholarships.

46. Financial Need
Schools/colleges receive financial aid information and calculate financial need
Financial Aid Office (FAO) “packages” student based on financial need and available funding (varies from school to school)
Financial aid award letter sent to student
School cost $26,000
EFC – $3,000
Financial Need $23,000

47. Actual Cont. = (Cost – Free $)
Comparing Packages
Cost
$20,000
$30,000
$50,000
EFC
$ 3,000
Need
$17,000
$27,000
$47,000
Free Money
$ 6,000
$ 8,000
$18,000
Loans
$ 5,500
$ 7,000
Work-Study
$ 0
$ 2,000
TOTAL AID
$11,500
$29,000
Gap = (Cost – Aid)
$ 8,500
$13,000
$21,000
Actual Cont. = (Cost – Free $)
$14,000
$22,000
$32,000

48. Things to Remember
Get your FSA IDs PRIOR to completing the FAFSA (FAFSA.gov or FSAID.ed.gov)
File your FAFSA at FAFSA.gov
Use the IRS DRT
If starting classes in summer, check with your school
Complete your FAFSA and State Grant Form at the same time
Meet your school’s priority filing DEADLINES
State Grant Deadline is May 1, 2017
School Deadlines may be earlier!
Research costs: mysmartborrowing.org

49. Resources for filing the FAFSA & SGF
Federal Student Aid Center (call, chat or )
or 800-4FED-AID
Studentaid.ed.gov
PHEAA (state grant)

50. Your Presenter Your Presenter Tiffanie DeVan
Higher Education Access Partner
Cumberland Valley Region
PA Higher Education Assistance Agency (PHEAA)

51. Questions?