1. Ohio Wesleyan University Navigating the Financial Aid Process You Can Do It !

2. Contact the Financial Aid Office for Help!
Your best source for FREE financial aid information and assistance
Assist students with the application process.
Determine eligibility for financial aid.
Provide a balance of free aid, employment and student loans.
Develop a working relationship with students and their families. KP

3. The Financial Aid Process
First Things First:
Apply for admission
Research and apply for private scholarships
File the FAFSA:
(and the CSS Financial Aid/PROFILE ,if needed) KP

4. The FAFSA! Complete the FAFSA Starting October 1st, 2017
Starting October 1st, 2017
It gets easier each year KP

5. Federal Student Aid ID You will need a user name and password
You will create a login, using an “FSA ID”
Both student and parent
New for 18-19: Can enter cellphone numbers
An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. KP

6. What it Looks Like: Use the IRS data retrieval tool! Easy!
Skip logic makes it Easy
Help instructions throughout the process
Simplified application process in the future KP

7. Why Complete the FAFSA?
Many colleges require it for any non-merit aid consideration and some require it for all financial aid.
You will need to complete it for any Federal Direct Student Loans and the Federal Direct Parent PLUS Loan.
It may help if your family has more than one student in college.
It may help if your parents are divorced.
It may help if your financial situation changes. AK

8. Tips for Completing the FAFSA
Apply Early
Use the IRS Data retrieval process
Complete All Items
Divorced Parents: Use parent with whom the student lived most in during the previous year.
Don’t forget: Sign the FAFSA Electronically: Use your FSA ID. AK

9. Frequent FAFSA Errors Social Security Numbers FSA ID
Divorced/remarried parental information
Untaxed income
U.S. income taxes paid
Household size
Number of household members in college AK

10. Early FAFSA – I can do this!AK

11. CSS/Financial Aid PROFILE profileonline.collegeboard.com
Some colleges require the PROFILE
The PROFILE requires additional information.
There is a cost …
Beginning October 1st. AK

12. How Much Aid Will I Receive ?
Congress uses “Federal Methodology” to determine your level of “need” for financial aid.
Determination of Need:
Cost of Attendance (COA)
– Expected Family Contribution (EFC)
= Financial “Need” KP

13. My situation has Changed…..
“Special Circumstances”:
- Job loss or reduction in pay
- Excessive medical expenses
One time Expense, Rollover, Etc.
Private schooling costs, sibling
Loss of Child Support or Alimony
Death or Disability of a parent
Many More….ASK
Please note that consumer related expenses do not apply KP

14. TYPES OF FINANCIAL AID Scholarships & Grants Student Loans
Student Employment AK

15. Merit-based Scholarships
Academic-based
Talent-based (i.e. music, theater, art)
Departmental Awards
Athletic
OWU does not offer Athletic Scholarships
Division III AK

16. GRANT PROGRAMS Institutional Grants State Grants Federal Grants
Private Grants AK

17. STUDENT EMPLOYMENT
Federal Work-Study (FWS) The FAFSA is required for this program. Institutional Student Employment
Students generally use money earned to help pay for their personal expenses. AK

18. The FAFSA is required for these loans.
FEDERAL STUDENT LOANS
The FAFSA is required for these loans.
Subsidized Direct Loans / 4.45%
Unsubsidized Direct Loans / 4.45%
Parent PLUS loans / 6.0 % AK

19. Private Resources
Private Grants and Scholarships are offered by various organizations, businesses and foundations:
- Students must apply separately for each program
- Students compete locally, regionally and nationally
- Apply, Apply, Apply! KP

20. Other Ways to Pay for College
Consider Tuition Payment Plans
Invest in 529 College Saving Plans
Utilize investment income and home equity
Select your college dorm and meal plan carefully
Work and save your earning during the summer
Buy used text books and books on line KP

21. FAFSA Help
Receive assistance with completing the FAFSA form from financial aid professionals.
Various locations throughout Ohio
More information can be found at: AK

22. KP

23. Questions
Kevin Paskvan
Amy Kaple