Presentation is loading. Please wait.

Presentation is loading. Please wait.

Applying for Financial Aid 2013-2014. Sponsored by: Presented by:

Similar presentations

Presentation on theme: "Applying for Financial Aid 2013-2014. Sponsored by: Presented by:"— Presentation transcript:

1 Applying for Financial Aid 2013-2014

2 Sponsored by: Presented by:

3 Types and sources of financial aid Required financial aid application forms How to complete the Free Application for Federal Student Aid (FAFSA) and the Cal Grant GPA Verification Form Answers to your individual questions What Will You Learn At This Workshop? 3

4 Types of Financial Aid Gift Aid - Grants or scholarships that do not need to be repaid Work - Money earned by the student as payment for a job on or off campus Loans - Borrowed money to be paid back, usually with interest 4

5 Sources of Financial Aid Federal government State government Colleges and universities Private agencies, companies, foundations, and parents employers 5

6 Cal Grants Cal Grant A Entitlement Awards – for high school seniors and recent high school grads with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, who demonstrate financial need Cal Grant B Entitlement Awards – for high school seniors and recent high school grads with a GPA of at least 2.0, who come from disadvantaged or low income families, whose family income and assets are below the state ceilings, and who demonstrate financial need Cal Grant C Awards – for students from low income families pursuing vocational programs of study 6

7 7 To be eligible for a Cal Grant, the student must also: be a U.S. citizen, eligible noncitizen, or AB540 student be a California resident attend an accredited California college or university at least half-time in 2013-14 Eligibility for Cal Grants

8 Possible Cal Grant and Federal Pell Maximum Awards 8 If you qualify for Cal Grant, amounts vary depending on the school that you attend, your financial need, your year in college and your enrollment status (full or part-time) If you qualify for the Federal Pell Grant, amounts vary depending on your family contribution and your enrollment status (full or part-time) Other eligibility requirements may apply Cal Grant* (Up to $12,192) 1FAFSA or California Dream Act Application 2Your GPA 3Apply by March 2 Federal Pell Grant (up to $5,550) 1FAFSA = Up to $17,742 maximum annually * Check for eligible schools at: +

9 Residency and Cal Grant Eligibility for 2013-2014 parents have been legal residents of California for one year immediately prior to September 20, 2013, or student has lived in California with other legal California residents, other than parents, for two years immediately prior to September 20, 2013, or parents who are active duty military, stationed in California at the time the student enrolls in college, or parents military home of record is California If unmarried and under 18 years of age, the student will be considered a legal resident of California if: If married or 18 years of age or older, the student establishes his/her own residence status. The student must be a legal resident of California for one year prior to September 20, 2013 Undocumented students who qualify for AB540 in-state tuition satisfy Cal Grant residency requirements 9

10 2013-2014 Cal Grant Application Requirements Check with your high school or college counselor for more details on how to file the Cal Grant GPA Verification Form, required of all students By March 2, 2013, complete and submit: Free Application for Federal Student Aid (FAFSA) OR Cal Grant GPA Verification Form 10 If eligible under AB540, students should complete the California Dream Act Application:

11 California Chafee Grant The California Chafee Grant program provides up to $5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S., based on available funding To be eligible, foster youth must have been in California foster care on their 16 th birthday and not have reached their 22 nd birthday before July 1, 2013 Foster youth are encouraged to apply during their senior year of high school To apply, the foster youth must complete: 2013-2014 FAFSA California Chafee Grant Program Application AB540 students may also be eligible To apply for a Chafee Grant, go to: 11

12 Types of Applications FAFSA Cal Grant GPA Verification Form Other applications or forms as required by the college such as: 2012 federal tax returns (along with all schedules and W-2s) or other income documentation CSS/Financial Aid PROFILE Institutional Scholarship and/or Financial Aid Application 12 Undocumented student covered under AB540 should complete the California Dream Application

13 FAFSA Information & Tips File early, but no later than March 2, 2013 Use estimated 2012 income information if taxes are not complete at time of FAFSA submission Student and at least one parent whose information is reported must complete and sign the FAFSA 13

14 FAFSA on the Web (FOTW) Internet application used by students and parents to complete electronic FAFSA at: Sophisticated on-line edits and skip logic help avoid errors On-line help is available for each question Student and one custodial parent should get a federal PIN to sign FAFSA at: 14

15 PIN (Personal Identification Number) Needed to sign and access the FAFSA Both student and one parent need PINs to sign the FAFSA electronically May be used to: Check on FAFSA status Verify and correct FAFSA data Add additional schools to receive FAFSA data Change home and e-mail addresses PIN will be generated only if a valid email address is provided Federal PIN Apply for student and parent PINs at: 15

16 Another Useful Form - FAFSA on the Web Worksheet Though not a required form, the 2013-2014 FAFSA on the Web Worksheet may: Help some students prepare to complete the FOTW Be used for the January 1, 2013 through June 30, 2014 federal aid application cycle 16

17 Before starting the FAFSA on the Web (FOTW), gather: Student drivers license Student Alien Registration Card Student and Parent Social Security cards 2012 W-2 Forms and records of money earned and other taxable benefits 2012 federal income tax form (even if not yet completed) Records of untaxed income Current bank statements Business, farm, and other real estate records Records of stocks, bonds, and other investments Complete 2013-14 FOTW Worksheet (optional) Create a file for copies of all financial aid documents submitted Getting Ready 17

18 FAFSA on the Web (FOTW) The 2013-2014 FAFSA on the Web may be used for the January 1, 2013 through June 30, 2014 federal student aid application cycle 18

19 Section 1 Section 1 –Student Demographics Section 2 Section 2 –School Selection Section 3 Section 3 –Dependency Status Section 4 Section 4 –Parent Demographics Section 5 Section 5 – Financial Information Section 6 Section 6 – Sign and Submit Section 7 Section 7 – Confirmation The FOTW A Seven-Section Online Form 19

20 Go to to complete and submit your application. For more information on federal student aid, visit You can also talk with your colleges financial aid office about other types of student aid that may be available 20

21 21 Contact the Financial Aid Office if there are circumstances which affect a familys ability to pay for college such as: Loss or reduction in parent or student income or assets Death or serious illness Natural disasters affecting parent income or assets such as the recent California wind storms, wild fires, floods, or mudslides Unusual medical or dental expenses not covered by insurance Reduction in child support, Social Security benefits or other untaxed benefit Financial responsibility for elderly grandparents, or Any other unusual circumstances that affect a familys ability to contribute to higher education Special Circumstances

22 22 Gather necessary documents ahead of time Complete a FAFSA on the Web available at: Allow ample time to complete the online FOTW application for submission by the deadline Check the FAFSA on the Web for accuracy prior to submission Save all work periodically Sign the application using students and one custodial parents PINs Print out a copy of the FAFSA before submitting data Keep a copy of the Submission Confirmation Page Application Filing Tips FAFSA on the Web

23 What Happens Next? 23 Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor Students who complete FAFSA and Cal Grant GPA Verification Form receive California Aid Report (CAR) Students and families review SAR and CAR for important information and accuracy of data Colleges match admission records with FAFSA and other required financial aid forms to determine aid eligibility Colleges provide notices of financial aid eligibility to admitted students who have completed all required financial aid forms

24 24 After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment will be sent if student provides an email address A paper SAR will be mailed if no student e-mail address is provided An electronic copy of the data will be sent to each college or university listed by the student in Section 2 Keep a copy of the SAR with other financial aid documents Student Aid Report (SAR)

25 25 Some students may be required to verify the information reported on the FAFSA If selected for verification, the tax information of federal tax filers will be verified through The IRS Date Retrieval Process, or IRS Tax transcripts if requested by the college or university Non-tax filers selected for verification may be asked to provide Signed statements confirming that they did not file a 2012 federal tax return and were not required by IRS to do so Copies of W-2s or other income documentation from each employer, if any income was earned from work All selected aid applicants will also be asked to verify certain demographic data listed such as Household size and number in college Child Support paid and SNAP, if reported on the FAFSA Federal Verification

26 26 By opening a WebGrants Account a student can: Check Cal Grant award status 24/7 Confirm students high school graduation as required Make changes to Cal Grant school choices View how much a Cal Grant is worth at different California colleges and universities View Cal Grant payment history Create a WebGrants account at: Check Your Cal Grant

27 27 Submit all required forms, including the FAFSA, by each colleges published deadlines (but no later than March 2) By March 2, submit a Cal Grant GPA Verification Form Keep a copy of all forms submitted Review the electronic Student Aid Report (SAR) Acknowledgement or the paper SAR sent to the student Review the California Aid Report (CAR) Watch for financial aid award notifications from colleges to which the student has been admitted Be sure to apply for financial aid this year and every year as soon as possible after January 1 to receive the best financial aid award possible ASK QUESTIONS! Summary of the Financial Aid Process

28 28 FAFSA on the Web – Live Help Phone 1-800-4-FED-AID (1-800-433-3243) E-mail the U.S. Department of Education at: If You Need Help at Any Time


Download ppt "Applying for Financial Aid 2013-2014. Sponsored by: Presented by:"

Similar presentations

Ads by Google