2. Agenda What is financial aid? What are the types of financial aid?
How do I apply for financial aid?
Where can I get more information?

3. What is Financial Aid?
Money from a source other than the family to assist with the cost of attending college or career school
Family
Federal Government
States
Colleges
Private sources: companies, organizations

4. Financial Aid Myths College is too expensive
Only the smartest students receive financial aid
Only students with high financial need receive aid
My parents make too much money
The form is too hard to fill out
The FAFSA is only for grants & scholarships
I only have to complete the FAFSA one time
The estimated family contribution number is the amount I will have to pay

5. Types of Financial Aid Scholarships: FREE MONEY
Usually awarded based on:
Academic achievements
Interests & career plans
Ethnicity, family background
And/or financial need
Grants: FREE money awarded based on need
Work-Study
Part time jobs for students with financial need
Maybe on campus or off campus
Do not use towards tuition & immediate University payment
Loans-MUST BE PAID BACK
Borrowed $
Low interest/no interest loans
May need credit worthy cosigner

6. FSA ID: fsaid.ed.gov What is the FSA ID?
Username & password that you must use to log into certain U.S. Department of Education (ED) websites

7. Gather the documents you need
Your driver’s license # (if you have one)
2017 Tax records
Records of any untaxed income from 2017
Your FSA ID (to sign your application electronically)
List of colleges you are interested in attending
Your FAFSA information will be sent to these colleges
The college will work to put together a financial aid package for you based on your FAFSA information
Optional: Use FAFSA on the Web Worksheet to prepare your answers and get organized

8. FAFSA APP!
myStudentAid

9. zz

10. www.fafsa.gov Fill it out! Apply on or as soon after October 1
Use 2017 tax information!
After taxes are filed, be sure to use the IRS data retrieval tool in the FAFSA
Need help?
FED.AID
Live chat in fafsa.gov
Don’t forget: WATCH FOR THE CONFIRMATION PAGE that says your FAFSA has been submitted, THEN log out

11. Use the irs data retrieval tool

18. Email Confirmation Check your email for your FAFSA confirmation
SAR (Student Aid Report)
Double check your information: make sure it is correct!
If you used estimated numbers, and have completed your tax return, complete the IRS data retrieval in the FAFSA
Correct any mistakes & resubmit the FAFSA
Meet all deadlines or your could miss out on aid!

19. Tips for completing the FAFSA
Apply October 1 & meet all deadlines
Use estimates if tax returns are not completed
If parents are divorced, use parent with whom the student lives with the most & provides 50% or more of the support
Step parent must be included
If a student thinks he/she can answer ‘yes’ to a dependency status question, check with the financial aid administrator

20. TASFA WHAT IS THE TASFA? Where do you get it? What does it look like?
Texas Application for State Financial Aid
For undocumented students
An application used by financial aid administrators at most Texas colleges and universities to determine a student’s eligibility for state financial aid
New 18/19 is available!
October 1, 2017
Where do you get it?
What does it look like?
TASFA Process

21. Instructions to assist

25. Affidavit to become a permanent resident
Must be notarized
Must submit every year
Form will go to:
Registrar

26. Complete TASFA-fillable form online, save & print.
Tasfa process
Sign, scan & bring to Welcome Center-financial aid office along with tax transcripts (if filed), selective service info & affidavit.
Financial aid office manually enters in TASFA information and computes EFC for student.
Complete TASFA-fillable form online, save & print.
Financial aid office awards student only Texas $ (TPEG, TEXAS Grant, Texas Work Study, CAL, Private Loan)

27. What happens next? Set up refund process if you have not already!
Receive an stating additional information is needed OR your award has been posted
Should see this in early spring 2019
Schools will always try and give you the best, FREE $ first
Federal & State Grants
Work Study
Federal Loans (student & parent loans)
You must accept/decline each type of aid offered
Set up refund process if you have not already!

28. Federal Student Aid Maximums for 2018-2019
Maximum amounts for :
Federal Pell Grant: $6095
Direct Loans: $5,500
Subsidized Student loans: zero interest while in school & during periods of deferment
Unsubsidized Student loans: interest throughout life of loan
No credit check on either loan/no payments while in school
Special repayment plans
Federal Work-Study: depends on funds available at school & student’s need
Federal Direct PLUS loan: (for parents) COA minus other aid received
Parents borrow for their student, basic credit check is conducted
Parents may defer payment while student is enrolled in college
Private Education Loans
In student’s name, but would need a credit worthy cosigner
Cosigner release options/anyone can be a cosigner
Rates based on credit

29. Texas aid $ amounts for these grants will vary per student
TEXAS Grant (public colleges)
TPEG (public colleges)
TEOG (community colleges)
TEG (private colleges)
State exemptions

30. Professional judgment/special circumstances
Is something from your 2017 taxes different from your current situation?
The college financial aid office has paperwork you may submit (with documentation) to request to have these changes made to better reflect your current situation
Lost wages/income changes
One time lump sums/IRA rollovers
Extreme medical bills/payments, not covered by insurance
Nursing home expenses not covered by insurance
Unusually high child care costs
NOT AN OPTION:
Credit card balances
Vacations
Large mortgage/large car payments

31. Where can I get more info/help?
Information about aid programs
Links to free scholarship & college searches
FED.AID
Info about aid programs
Help with FAFSA

32. Social Media

33. The Federal Student Aid Information Center

34. Important Resources www.everychanceeverytexan.org www.finaid.org

35. Assistant Director, Scholarships & Financial Aid
QUESTIONS?
Chandra Gonzalez
Assistant Director, Scholarships & Financial Aid