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Paying for college.

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Presentation on theme: "Paying for college."— Presentation transcript:

1 Paying for college

2 FAFSA Available October 1, 2018 Complete website redesign

3 2019-20 FAFSA Available October 1, 2018
(VERY IMPORTANT!) Student AND parent will create FSA ID usernames/passwords (fsaid.ed.gov) to sign electronically Student and parent will submit FAFSA using IRS Data Retrieval Tool to upload 2017 tax information

4 FAFSA Checklist Student’s Social Security number
Parent(s)’ Social Security number(s) Student’s driver’s license number if you have one 2017 tax information for student and parent(s) Most parents/students will upload their 2017 tax information using the IRS Data Retrieval Tool via FAFSA. Records of your untaxed income, such as child support and veterans noneducation benefits for student and parent(s) Information on checking and savings account balances; investments; and business and farm assets

5 Eligibility A student must possess a valid SSN and be a U.S. citizen or an eligible noncitizen as defined by FAFSA…

6 FAFSA 101 Selective Service – males only; register me
Grade level – never attended college/1st yr. Degree – 1st bachelor’s degree, associate degree, certificate or diploma Work-study – yes Dependency status – see “Do I Have To Provide My Parents’ Info On The FAFSA” infographic

7 Dependency ?s 24 or older? Married? Master’s or Doctorate?
U.S. Armed Forces? Veteran? Children/dependent receiving ½ their support from you? Since you turned 13, were both parents deceased, foster care, or ward of the court? Emancipated? Legal guardianship? Unaccompanied youth who was homeless?

8 Reasons for FAFSA HOPE Scholarship & TN Promise Student & PLUS loans
Because the college said so

9 Common FAFSA Issues Social Security Number
Name (must match Social Security card) Date of birth Missing signatures

10 Student Aid Report Important for students to review their Student Aid Report (SAR) Problems will be addressed on first page Verification indicator is an * right after the Expected Family Contribution (EFC)

11 Student Aid Report

12 Federal Aid Pell FSEOG Work Study $652 - $6,095 (2018-19)
$652 - $6,095 ( ) 0 – 5486 EFC Need based ( ) FSEOG $100 - $4,000 Exceptional financial need Work Study Amount Varies Typically paid to student

13 Federal Aid Subsidized Stafford Unsubsidized Stafford Parent PLUS
5.05% fixed ( ) Interest does not accrue initially Unsubsidized Stafford Interest does accrue Parent PLUS 7.6% fixed ( )

14 State Aid HOPE Scholarship GAMS Ned McWherter
$1,500/$1,750 per semester 21 ACT/SAT or 3.0 GPA* GAMS $500 per semester 29 ACT/SAT & 3.75 GPA* Ned McWherter Up to $6,000/ academic year 29 ACT & GPA* February 15 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

15 State Aid continued HOPE Access Wilder- Naifeh TSAA
$875/$1,250 per semester 18-20 ACT & GPA* & AGI<$36K Wilder- Naifeh $2,000 per academic year Certificate/ Diploma TCAT TSAA $1,000 – $4,000 per academic year 0 – 2,100 EFC February 1 *All courses calculated on a 4.0 scale per the Uniform Grading Policy

16 TN Promise Checklist Apply to the Tennessee Promise program at by November 1, 2018 Complete FAFSA at by February 1, 2019 Attend spring mandatory meeting as coordinated by partnering organization Complete 8 hours of community service between November 2, 2018 – July 1, 2019

17 Senior Year Checklist Fall Semester Spring Semester
Take and retake the ACT/SAT Apply to several colleges (admissions, institutional aid, etc) and utilize their net price calculators Student AND parent will create FSA IDs (fsaid.ed.gov) to... Complete FAFSA available October 1, 2018 Spring Semester Complete local/private scholarship applications Review college acceptances, compare financial aid packages, ask questions, and follow up as needed

18 Outreach Division

19 THANK YOU


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