1. FAFSA Fundamentals 2018 – 2019 Letha Huddleston, OCAP
UCanGo2 is an initiative designed to provide information about planning, preparing and paying for college.
Free workbooks and flyers are provided to students and parents and can be downloaded directly from our college access website, UCanGo2.org.
Letha Huddleston, OCAP

2. Financial Aid Money used to help pay college expenses
Grants, work-study, student loans, scholarships
Almost every student is eligible for some type of financial aid
Students must apply every year
Financial aid can help with various educational costs such as tuition, fees, books, room and board, and transportation.
Your aid can also assist with expenses like daycare and purchasing a computer.

3. FAFSA.gov Always use FAFSA.gov Never pay to file the FAFSA
Use FAFSA4caster to estimate eligibility
Here’s a screen shot of the FAFSA.gov home page where you start completing the FAFSA application online.
Remember to use FAFSA.gov.
You should never pay to complete the FAFSA.
FAFSA4caster offers families a glimpse at their potential financial aid eligibility.

4. Creating an FSA ID Visit FAFSA.gov
Create your FSA IDs before beginning FAFSA
Enter secure code(s) sent to you during the FSA ID creation process
There are several ways to access the FSA ID information:
FAFSA.gov
StudentAid.ed.gov/fsaid
FSAID.ed.gov
Students and parents should plan to create their FSA ID prior to starting the FAFSA application.

5. FAFSA
Process
After you’ve completed the FSA ID process, you’re ready to complete the FAFSA itself. The next slides outline each step of the process.

6. FAFSA Login
As you begin, you’ll be asked to log in to your FAFSA with the FSA ID.
Only the student’s FSA ID will allow someone to access their FAFSA application.

7. FAFSA 2018 – 2019
Be sure to choose the ‘ FAFSA’ if you plan to attend school beginning in the fall of 2018.
If you will begin school in the summer of 2017, check with the school you plan to attend to get their specific requirements on the FAFSA.

8. FAFSA 2018 – 2019
You must create a “Save Key” in case you don’t complete the FAFSA all at once.
When you log out and come back into a FAFSA that hasn’t been submitted, you must enter this “Save Key” to access the information you already filled in.

9. Student Demographics
List name exactly as it is on Social Security card
Marital status as of the day you submit FAFSA
Help and Hints box provides additional information
Your name and date of birth must match what’s shown on your Social Security card or your FAFSA will be rejected.
Even if you plan to be married by the time you start college in the fall, you must enter your marital status as of the day you actually submit your FAFSA.
Help and Hints suggestion boxes are provided to offer a detailed explanation of most questions.

10. Selective Service
18 year old males must register to receive financial aid
Students may register through the FAFSA
If you’re an 18 year-old male and haven’t registered with Selective Service, you may do so on your FAFSA application.
Males who have not registered with Selective Service will not qualify for financial aid.
If you’re only 17 now, go ahead and check ‘Register Me’; your information will be submitted on your 18th birthday.
Help and Hints boxes are provided to offer a detailed explanation of almost every question.
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School years

11. School Selection Enter state, then search by city or school name
Enter six-digit school code
Select schools and click Add
Send FAFSA to up to 10 colleges
The School Selection area allows you to send your FAFSA results to 10 different schools.
Each school has a 6-digit code number; if you don’t know the school’s number, you may do a search here by school name, city or state.
We searched Shawnee OK; click on the box next to the school name and have your FAFSA results sent there.
Currently Gordon Cooper Technology Center and OBU will be getting this FAFSA information.
Help and Hints boxes are provided to offer a detailed explanation of almost every question.

12. Click View Selected School Information to compare schools
School Selection
Click View Selected School Information to compare schools
The next search was done for Cameron University in Oklahoma.
That pulled up Cameron University in Lawton.
Cameron was clicked and it was added to our 2 schools from the previous slide.
Now these 3 schools will receive our FAFSA results.
Click ‘View Selected School Information’ to find various data on the schools you’ve selected.

13. School Comparison Update Screenshot New rates Compare Location
Tuition and fees
Graduation rates
College websites
This page provides information about the 3 schools you’ve chosen to receive your FAFSA results.
You will find the cost for tuition and fees, the graduation rate, retention rate and much more.
You can also follow the link directly to each school’s website to learn more.
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New rates

14. Select housing plan for each school
Housing Plans
Select housing plan for each school
On campus
Off campus
With parents
You must provide your housing plans for each school receiving your FAFSA results.
Be aware that every school will give you these 3 housing options regardless of whether the school offers them or not.
The Financial Aid office at the school(s) will use your housing plans to help determine the amount of financial aid you may be awarded.

15. Dependency Status Dependent students must provide parental information
Independent students aren’t required to provide parental information
Your answers to these questions will determine your dependency status on the FAFSA.
If you can answer YES to one question, you’ll be considered an independent student; independent students do not have to provide parent information on their FAFSA unless requested by their school.
If not, you’re considered a dependent student and must provide parental information on your FAFSA.
Independent students who are married must also show spousal information.
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16. Special Circumstances
Dependent students unable to provide
parent info
due to special circumstances may choose I am unable to provide parental information
If there’s a special circumstance prohibiting you from providing parental information, it’s highly recommended you speak to the Financial Aid office at the school you’ll attend.
Many schools have specific procedures they follow to handle this question.

17. Special Circumstances
Change in income
Change in employment status
Unusual medical expenses not covered by insurance
Changes in parent marital status
Unusual dependent care expenses
Unable to obtain parent information
This is a list of some additional special circumstances that you or your parent may be facing.
Speak with your financial aid officer if you have any specific questions.

18. Reporting Parent Information
If parents are legally separated or divorced
List parent you lived with most during last 12 months
Lived with both parents equally: List parent who provided most financial support in last 12 months
If parent you lived with has remarried
List parent and step-parent
If legal parents are unmarried, but living together
List information for both parents
As you indicate your parents’ marital status, review these tips regarding whose financial information to include on the FAFSA.
If both legal parents live together, but aren’t married, they must report BOTH incomes on the FAFSA.

19. Parent Demographics
Parent first initial and last name as shown on Social Security card
Name and date of birth will be verified with Social Security Administration
Parent(s) must provide the first initial of their full first name and date of birth as shown on their Social Security card.
If parent(s) is undocumented or not a U.S. citizen, they may enter zeros for the Social Security number.
On this slide, we’re featuring legal parents who are Married.
The applicant will provide information about the Father/Stepfather and Mother/Stepmother.
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years

20. Parent Income Update Screenshot Tax years Use 2016 tax information
Select tax filing status
Already completed
Will file
Not going to file
If Already completed, enter tax figures manually or Link to IRS
If parents choose to do so, they may download their tax information directly into the FAFSA via the IRA Data Retrieval Tool.
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Tax years

21. IRS Data Retrieval Tool
IRS sends tax data directly to FAFSA
Voluntary, but strongly recommended
Reduces documents requested by financial aid office and speeds up awarding process
Due to increased security measures, transferred data will not show on screen
Financial aid office must make any changes to transferred data
Using the IRS Data Retrieval Tool simplifies the FAFSA process for students now and when they begin college.
Electronically filed tax information will be available 3 weeks after the return has been accepted by the IRS (only applies to late filers since using 2016 tax information).

22. Update Screenshot New DRT
Enter the following information as it appears on your 2016 Federal Income Tax Return.
This screen requires you to verify that you’re the student or parent trying to access IRS tax information.
You must provide general demographic data as well as your filing status on the return.
Be sure to provide the EXACT address as shown on your tax return.
Spell out Street or use St., depending on how it’s shown on your return, for example.
Income and tax information will not appear on any of the screens; you will see ‘Transferred from the IRS’ in those fields
Those who are married and filing a joint return will have to enter their separate incomes manually.
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New DRT

23. Parent Income Adjusted gross income Income earned from work
Federal benefits programs
If you choose to manually enter your tax information, the FAFSA questions will include the tax return’s line number to locate the answers.
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Tax year

24. Parent Income Update Screenshot Tax year Education credits
Child support received
Combat pay
Untaxed income
Housing, food, living allowances
Tax exempt interest
Payments to tax-deferred pension and retirement savings plans
Veterans non-education benefits
This page requires information on any untaxed income or parental assets.
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Tax year

25. Student Income Type of tax return filed Income earned Taxes paid
Students can indicate if they’ve filed their taxes, if they will file, or if they won’t file at all.
Students also have to option to use the IRS Data Retrieval Tool to download their tax information from the IRS.
Even if you aren’t required to file a tax return because you didn’t make much money last year, you are still required to report your income on the FAFSA.
The Help and Hints suggestion box on the right side will provide the corresponding line numbers on the return for each question.
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Tax year

26. Sign & Submit Review answers Make changes before submitting
Student and parent enter FSA IDs to electronically sign
Click Submit My FAFSA Now
Click ‘View or Print Your FAFSA Information’ to review all of your answers for accuracy before the FAFSA is submitted.
Student and parent will enter their FSA ID information to electronically sign their FAFSA application.
Don’t forget to hit ‘Submit My FAFSA Now’ when you’re done.
Parents without SSNs will not be able to get an FSA ID. They’ll need to print a signature page and mail it to Federal Student Aid (FSA) to complete the application.

27. Confirmation Page Estimated Family Contribution (EFC) is provided
See early estimate of financial aid eligibility
After you hit ‘Submit My FAFSA Now’ you’ll receive a Confirmation Page.
You will see an estimate of your eligibility for the Pell Grant and Federal student loans.
You will also see an estimate of your Expected Family Contribution, or EFC.
Please keep in mind this is an estimate. Financial Aid offices make the final determination and notification of eligibility.
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dates

28. After the FAFSA
The FAFSA is just the first step in paying for college.
The next several slides will outline what to expect after you’ve submitted your FAFSA online.

29. Student Aid Report (SAR)
10/01/2016
10/10/2016
Summarizes FAFSA information
Available after FAFSA is processed
Review for accuracy
School(s) on FAFSA also receive a summary
A Student Aid Report (SAR) is a summary of the information you provided on the FAFSA.
It will be sent to you electronically or via paper, depending on how you filed your FAFSA application.
Review the SAR for any errors.
Income and tax information will not appear on the SAR; you will see ‘Transferred from the IRS’ in those fields if you used the DRT
Those who are married and filing a joint return will have to enter their separate incomes manually.
Update
Screenshot
Tax info won’t show?

30. Financial Need OCAP University’s Cost of Attendance: $20,000
Student’s Expected Family Contribution: $5,000
$20,000 (COA)
– $5, (EFC)
$15,000 (Need)
In this example, the student may receive up to $15,000 in need-based aid and no more than $20,000 in non-need based aid.
Need-based aid includes grants, work-study, and subsidized student loans.
Unsubsidized student loans are non-need based aid.

31. Award Letter Sent electronically or through mail
Outlines financial aid eligibility
Read carefully!
Accept or decline aid by specified deadlines
Be sure to review your financial aid award letters carefully.
Pay close attention to any deadlines for accepting or declining financial aid.
Schools contact students in a variety of ways. Be sure you check your college issued account and watch for mail to arrive from the school’s you’ve been accepted to.

32. Federal Financial Aid Federal Pell Grant
$5,920 annual maximum for
Federal Supplemental Educational Opportunity Grant (FSEOG)
Up to $4,000 annual maximum
Teacher Education Assistance for College & Higher Education Grant (TEACH)
Iraq & Afghanistan Service Grant
Amounts vary
The next few slides will cover the federal financial aid programs.
The programs listed, including dollar amounts and interest rates, are subject to change as federal budgets are finalized. Please keep in mind that each student’s eligibility will also vary, depending on their family’s size, income, and assets.
The Pell Grant and Federal Supplemental Educational Opportunity Grant are need-based grant programs for undergraduate students without a bachelor’s degree.
The TEACH Grant has some very specific requirements that recipients must fulfill; it becomes a loan if you do not end up teaching in a required field and/or school. Students are encourage to research this program carefully before accepting.
Students who have lost a parent after 9/11/2001 in either Iraq or Afghanistan should notify the Financial Aid office at the school they plan to attend.
You apply for all programs by completing the FAFSA.
Not all schools participate in these programs.

33. Federal Financial Aid Federal Work-Study (FWS)
Allows student to earn money to help pay for school
On-campus or community employment opportunities
Gain work experience while in college
The programs listed, including dollar amounts and interest rates, are subject to change as federal budgets are finalized. Please keep in mind that each student’s eligibility will also vary, depending on their family’s size, income, and assets.
Federal Work-Study is a program based on a student’s financial need; it allows students to work part-time on- or off-campus.
Not all schools participate in this program.

34. Federal Financial Aid Federal Subsidized Student Loan
Based on financial need
Government pays interest while student is enrolled at least half-time
4.45% fixed interest rate during
Federal Unsubsidized Student Loan
Additional loans available to students who qualify
Interest begins to accrue after first disbursement
Parent Loan for Undergraduate Students (PLUS)
7% fixed interest rate during
The programs listed, including dollar amounts and interest rates, are subject to change as federal budgets are finalized. Please keep in mind that each student’s eligibility will also vary, depending on their family’s size, income, and assets.
Subsidized Federal loans are low interest loans offered by the government; they are awarded based on financial need and the interest is subsidized by the government while the student is enrolled at least half-time.
Unsubsidized Federal loans are non-need based; the government does not pay the interest on these loans.
If ineligible for a subsidized loan, the student may be eligible for an unsubsidized loan.
Borrowers can pay the interest on the unsubsidized loan, or wait until they graduate or are no longer enrolled in at least half-time.
Interest will begin to accrue on the unsubsidized loan after the first disbursement has been made and the student is responsible for all interest on this type of loan.
All loans must be paid back, so borrow only what you need for school.
The interest rate for both loans will be released in July 2018.

35. State Financial Aid Oklahoma Tuition Aid Grant (OTAG)
FAFSA is application for OTAG
Complete FAFSA as soon as possible after October 1
FAFSA filing deadline is typically December 1
$1,000 per year
Oklahoma’s Promise
Must complete FAFSA every year
Pays tuition at Oklahoma schools for students who meet high school requirements
The Oklahoma Tuition Aid Grant (OTAG) is a state grant for eligible Oklahoma residents.
It’s awarded based on financial need.
Funds for this grant program are limited.
Apply for the OTAG by completing the FAFSA as soon after October 1 as possible.
Every year Oklahoma’s Promise students must complete a FAFSA in order to receive their scholarship dollars.

36. Scholarships & Other Resources
In addition to federal and state financial aid, scholarships are a great way to help pay for college.
The following slides provide various scholarship and college planning resources.

37. Scholarships Find scholarships
Money that does not have to be paid back
Seniors: apply for 2-3 per week
Juniors: apply for 1-2 per week
Awarded based on merit, need, skill, hobbies, family history, athletics, writing ability
Find scholarships
UCanGo2.org
UCanGo2 on Facebook
OKcollegestart.org
College websites
Books
Local organizations
Churches
Family employers
Students should start applying for scholarships when they enter high school.
Scholarships are available as students continue through college as well.

38. Institutional Scholarships
Specific to the college
Application may or may not be included in admissions application
Find scholarship page on college’s website
Watch carefully for scholarship deadline
Institutional scholarships exist for returning students also, not just freshmen
Institutions offer scholarships to students attending their college, and many are specifically for incoming freshmen.
Applications may be part of the admissions application or it may be a separate application.
Be sure to watch for scholarship deadlines as they may be early in the student’s senior year of high school.
It’s never too early or too late to apply for scholarships! Students are encouraged to apply for institutional scholarships as they continue through college as well.

39. UCanGo2.org offers numerous resources for students, parents, counselors and adult learners who are planning for college.
Click the Plan, Prepare and Pay buttons to find information specific to your needs.

40. 
OKcollegestart.org is a one-stop-shop for middle school students, high school students, college students, adult learners, parents, and educators.
Students can explore careers, compare schools, learn about financial aid, and search for scholarships.
Students also submit applications for Oklahoma’s Promise through OKcollegestart.org.
Create a free account to access a wide variety of college and career planning tools.

41. Financial Aid Planning
OKcollegestart.org
Financial Aid Planning
Financial Aid 101
Financial Aid Calculators
Scholarships
Financial Fitness
Financial Aid 101 outlines financial aid basics, eligibility requirements, and important information you need to know.
Calculate your Expected Family Contribution (EFC), how much you should be saving for college, and determine the interest and monthly payments for student loans. 

42. Contact Us Oklahoma State Regents for Higher Education
Oklahoma College Assistance Program
Outreach Department
(toll free)
For additional information on college preparation and FAFSA completion, please feel free to contact us.