1. Counselor & Mentor Financial Aid Train-the-Trainer Session
Federal Student Aid
Counselor & Mentor Financial Aid Train-the-Trainer Session

2. Richard Blasen
Awareness & Outreach – West Coast Regional Team
Dr. James Copeland
Awareness & Outreach – West Coast Regional Team

3. Today’s Topics Financial Aid Basics Federal Student Aid Programs
Tools & Resources
FAFSA walkthrough

4. Myths About Financial Aid
“…only students with good grades get financial aid.”
Reality: High school diploma, GED and home schooling certificate...
… more scholarship opportunities available…

5. Myths About Financial Aid
“ We make too much money, therefore we’re not getting anything”
Reality: Your income is only one item that is looked at regarding your eligibility for aid.

6. Where Does Aid Come From?
Federal Government
State Government
Schools
Private

7. Gift Aid - Need or Merit based: Self-Help Aid:
Types of Financial Aid
Gift Aid - Need or Merit based:
Grants and Scholarships
Self-Help Aid:
Work Study - Employment opportunities
Loans

8. Federal Financial Aid Programs
Federal Grants
Federal Work-Study
Federal Student Loans
There is more than $150 billion available
in federal aid to help students pay for postsecondary education

9. Gift Aid - Federal Grant Programs
Federal Pell Grant Program – $5,730
Iraq and Afghanistan Service Grant - $5,311
Teacher Education Assistance for College and Higher Education (TEACH) Grant - $4000
Federal Supplemental Educational Opportunity Grant, or FSEOG - $4000

10. Federal Loan Programs Considerations: Know:
Subsidized vs. Unsubsidized
Interest rate
Grace period
Death or Permanent Disability
Know:
Default – 1st Borrowers REQUIRED to Entrance Counseling
Deferment & Forbearance
Loan Repayment Plans
Public Service Loan Forgiveness (PSLF) Program
Teacher Loan Forgiveness

11. Federal Loan Programs Interest Rate Repayment Additional Info
Interest Rate
Repayment
Additional Info
Federal Perkins Loan
5% Fixed
9 months after school
Federal Stafford/ Direct Loan
Subsidized 4.66% Fixed
Unsubsidized 4.66% Fixed
6 months after school
Subsidized: no interest charged while in school Unsubsidized: interest accrues while in school
Direct PLUS Loans
Parents & Graduate or Professional Student
6.41% Fixed
May be deferred until 6 months student drop ½ time or 60 days after loan is fully disbursed
Interest accrues while student is in school

12. FAFSA.GOV Must file every year Can file Jan. 1st of senior year
PIN (Parent/Student)
Check with college to determine if additional applications need to be completed. I.E. CSS Profile application

13. FAFSA.GOV Homepage

14. Enhanced IRS DRT Questions
The format of the IRS Data Retrieval Tool filtering question will be enhanced
Question labels will be improved for clarity

15. IRS Data Retrieval Tool

16. Federal Student Aid Information Center
Contact Us
Monday through Friday: 8 a.m. - 10:00 p.m. ET Not available on federal holidays.
Live help
Toll-free number .

17. Detailed College Info and Comparison
College’s website
School type
Tuition and fees
Net price average
Graduation rates
Retention rates
Transfer rates

18. Basic Eligibility Requirements
Students must be:
U.S. citizen or eligible non-citizen
Registered with Selective Service (Males) (18-25)
Social Security Number (with limited exceptions)
High school diploma, home schooling certificate or GED
No drug related convictions while receiving Aid
Matriculated – enrolled in an eligible program
Maintain ‘Satisfactory Academic Progress’
Not in Default or Overpayment Status

19. Dependency Status 24 years or older Married
If any of the following criteria applies, the student is considered independent:
24 years or older
Married
Master’s or Doctorate Program
Children and you provide more than ½ support
In foster care since turning 13, or ward of the court
Emancipated minor or was in legal guardianship
Homeless
Serving Active Duty in U.S. Armed Force

20. Which Parent(s) fill out FAFSA?
If your parents are living and legally married to each other, answer questions about both of them.
If your parents are living together and are not married, answer questions about both of them.
If your parent is widowed or was never married, answer questions about that parent.
If your parents are divorced or separated and don’t live together, answer the questions about the parent with whom you lived more during the past 12 months. If you lived the same amount of time with each parent, give answers about the parent who provided more financial support during the past 12 months.
If your parents are divorced but live together, you’ll indicate their marital status as “Unmarried and both parents living together,” and you’ll answer the questions about both of them.
If your parents are separated but live together, you’ll indicate their marital status as “Married or remarried,” and you’ll answer the questions about both of them.
If you have a stepparent who is married to the legal parent whose information you’re reporting, you must provide information about that stepparent as well.
The following people are not your parents unless they have adopted you: grandparents, foster parents, legal guardians, older brothers or sisters, and uncles or aunts.

21. Cost of Attendance - (COA)
COA includes:
Tuition and fees
Room and board (Meals)
Books and supplies, equipment, transportation & personal expenses
Dependent or elder care expenses
Expenses associated with a disability

22. Expected Family Contribution - EFC
Calculation that uses a federal form and formula
Indicates the family’s financial strength
EFC the same regardless of college the student attends

23. Expected Family Contribution - EFC
Factors:
# of Family Members going to college
Household size
Current Earnings & Family Savings
Information provided on FAFSA
Age of your oldest parent
The lower your EFC, more financial aid eligible to receive

24. College Costs & Financial Need
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
= Financial Need

25. How Much Aid will I Receive?
Financial Need = $13,000
Federal Grants $5,000
State Grants $2,000
Scholarships $2,000
Institutional Grant $2,000 Loans $2,000 - Unmet need
TOTAL = $13,000

26. Expected Family Contribution (EFC)

27. Unusual Circumstances
Professional Judgment
Personal injury
Death
Job loss
High medical expenses
Case-by-case basis
Document

28. What To Expect After Applying
High Level Overview
Student reviews award package; compares to other award letters; student determines which college to attend
College reviews info and assembles award package for the student
Student completes the FAFSA and signs with FSA PIN
FAFSA is processed by FSA; Student receives a SAR; College receives information if listed on the FAFSA
Remember, that undocumented students can complete the FAFSA too. Private schools and some states can award aid, but this student doesn’t qualify for FSA.
Examples of eligible noncitizens –
a permanent U.S. resident with a Permanent Resident Card (I-551);
(2) a conditional permanent resident (I-551C); or
(3) the holder of an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any one of the following designations: “Refugee,” “Asylum Granted,” “Parolee” (I-94 confirms that you were paroled for a minimum of one year and status has not expired),
“Victim of human trafficking,” T-Visa holder (T-1, T-2, T-3, etc.), or “Cuban-Haitian Entrant.”
. If you are neither a citizen nor an eligible noncitizen, you are not eligible for federal student aid. However, you should still complete the application, because you may be eligible for state or college aid.
Required Financial Information: Assets Taxable Income Child Support, FARM, TANF Food Stamps Alimony, Pensions
NOT REQUIRED: Mortgage 401K Plan

29. QUESTIONS?

30. Federal Student Aid Tools & Resources

31. Repayment Estimator

32. Repayment Estimator

33. FAFSA4caster.ed.gov

34. FAFSA Completion by High School

35. Ordering Publications
Order publications from FSA Pubs:

36. YouTube

37. YouTube Playlists

38. Embed Videos into Your Website
Instructions:
Go to YouTube.com/ FederalStudentAid
Select the video you’d like to embed
Click “Share” which will show you a new menu
Click the “Embed” option to receive the code
Copy and paste code to your site

39. facebook.com/FederalStudentAid

40. Twitter Homepage @FAFSA

41. @FAFSA Twitter Office Hours

42. Storify www.storify.com/FAFSA
All the Q&As from each #AskFAFSA Office Hours are captured in Storify. This is a good resource for content.

43. Infographics

44. StudentAid.gov

45. StudentAid.gov/resources

46. StudentLoans.gov

47. NSLDS.ed.gov

48. FinancialAidToolkit.ed.gov

49. College Scorecard

50. College Navigator

51. FSAconferences.ed.gov

52. Fundamentals of FSA Administration

53. QUESTIONS?