1. Financial Aid Night 2016-2017

2. Agenda PURPOSE: To give a brief overview of the financial aid process Types and sources of financial aid AB540 and the Dream Act How to complete the Free Application for Federal Student Aid (FAFSA) Next Steps: What happens after you submit the FAFSA Resources and CASH for College

3. What is Financial Aid? A way to pay for a college education Government (federal & state) support for college attendance Institutional (college) support for college attendance Private (business, community, etc.) support for college attendance Cost of Attendance – Expected Family Contribution = Financial Need

4. Cost of Attendance (COA) Note: Costs vary from institution to institution Standard CostsOptional Costs Tuition and feesStudent loan fees Room and boardStudy-abroad Books and SuppliesDisability-related services Transportation Employment expenses for co-op study Miscellaneous personal expenses Child or dependent care

5. Expected Family Contribution (EFC) Amount a family can reasonably be expected to contribute Stays the same regardless of college Two components –Parent contribution –Student contribution Calculated using data from a federal application form and a federal formula

6. Types of financial aid  Grants - Money that does not have to be paid back. Based on financial need.  Work-study or student employment programs - federal and college.  Loans - Borrowed money that you must pay back, usually with interest.  Scholarships - Free money, usually based on a student’s area of study or merit. 6

7. TypeWhere can you use it? RequirementsWhat does it pay for? Cal Grant A 4-year college3.0 GPA, low to middle income Tuition and Fees for: CSU ($5,472) UC ($12,240) Private Colleges ($9,084) Cal Grant B Certificate, 2-year or 4-year college 2.0 GPA, low income $1,656 for the 1 st year Tuition/Fees plus $1,656 in 2 nd, 3 rd, and 4 th years Cal Grant C Enroll in vocational of study. Associates and Certificates programs only No required GPA Used for school expenses including tuition and fees $547 to $2,462 Cal Grants

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9. Other Grants  Federal Pell Grant  Up to $5,730 per year  Federal Supplemental Educational Opportunity Grant  Up to $4,000 a year  Federal TEACH Grant  Up to $4,000 a year  CHAFEE Grant  Provides up to $5,000 annually to current and former foster youth

10. ProgramAward AmountNotes Work StudyVaries by schoolOn and off-campus employment Perkins Loan Up to $5500 (UG)/ $8000 (Grad) 5% fixed rate student loan Subsidized Direct Loan Up to $3500 (undergrad level) Temporary elimination of interest subsidy during grace period Unsubsidized Direct Loan Up to $2000 (undergrad level) Interest begins accruing immediately Loans and Work Study

11. Scholarships University-based scholarships and grants Private scholarship searches – www.finaid.org www.finaid.org – www.collegeboard.org www.collegeboard.org Local Scholarships – Outside Scholarship List (updated regularly) – Local Scholarship Booklet – available 2/1 – www.rosevilletigers.org - Click “Academics” then “Career Center” www.rosevilletigers.org

14. It all starts with the… Free Application for Federal Student Aid (FAFSA) www.fafsa.gov Dream Act Application dream.csac.ca.gov

15.  Attended a California high school for 3 or more full academic years  Will graduate from a California high school (or attain a GED)  Do not have a Social Security Number or does have a DACA Social Security Number  Do not hold a valid non-immigrant visa

16. AB 540 Students – CA Dream Act Students may be eligible for in-state tuition/fee costs Check with colleges and universities about CA Dream Act institutional financial aid and private scholarships Apply for all other private scholarships for which the student may be eligible For more information and a list of scholarships, go to www.latinocollegedollars.org www.finaid.org/otheraid/undocumented.html www.CalDreamAct.org 16

17.  This is the student’s application and responsibility  Parent information is usually required  Apply between January 1 st and March 2 nd of the senior year  Renew every year  The FAFSA and Dream Act applications help determine ability to pay for college

18. FAFSA Information & Tips File early, but no later than March 2, 2016 Use estimated 2015 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 with a FSA ID 18

19. FSA ID FSA ID (Federal Student Aid Identification) Number serves as the electronic signature on financial aid documents Both student and one parent need FSA ID 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 FSA ID can be used immediately to submit FAFSA Apply for student and parent FSA ID at: www.fsaid.ed.gov 19

20. Before starting the FAFSA, gather: o Student driver’s license or Alien Registration Card o Student and Parent Social Security cards 2015 W-2 Forms and records of money earned and other taxable benefits 2015 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 Create a file for copies of all financial aid documents submitted Getting Ready 20

21. Section 1 Section 1–Student Demographics Section 2 Section 2–School Selection Section 3 Section 3–Dependency Status Section 4 Section 4–Parental Information Section 5 Section 5 – Student Income and Assets Section 6 Section 6 – Signatures and Certification Section 7 Section 7 – Confirmation 21 FAFSA(www.fafsa.gov)

22. Section 1 STUDENT DEMOGRAPHICS

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24. Section 1 - Selective Service Registration Male students who are between the ages of 18 and 25 years must be registered with Selective Service to receive federal and state aid Answer “Register me” only if you are male, aged 18-25, and have not yet registered. The student may also register by going to: www.sss.gov 24

25. Section 2 SCHOOL SELECTION

26. Section 2 - School Selection 26 FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information The student should list the California school he/she is most likely to attend FIRST If the student is applying to more than ten schools, wait for the processed Student Aid Report (SAR) and add additional schools via the Web or by phone using the FSA ID

27. Section 2 - School Selection The student will be asked to select the housing plan that best describes the type of housing the student expects to have while attending each listed school The choices for housing are: On Campus, With Parent, or Off Campus The student’s choice of housing may affect the amount of financial aid for which he/she is eligible. It is usually more expensive to live on or off campus than with parents or relatives 27

28. Section 3 STUDENT DEPENDENCY STATUS

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30. Who Is Considered “Independent?” 30 Homeless, Unaccompanied Youth Emancipated minors Foster youth Legal guardianship If any of the above apply to you, please work closely with your counselor

31. Section 4 PARENTAL INFORMATION FOR DEPENDENT STUDENTS

32. Whose info goes on a FAFSA/ CA Dream Act application? THE FAFSA & CA DREAM ACT APPLICATIONS NOW USE RELATIONSHIP OF PARENT TO STUDENT, VS. LEGAL RELATIONSHIP BETWEEN PARENTS FOR BASIS OF COLLECTING INFO Relationship of Student to ParentIncludes both parents’ incomes on the app? Only includes one parent’s income on the app? Parents married, living togetherYESNO Parents not married, living togetherYESNO Parent is widowed, not remarriedNOYES Parents are divorced or separated, not living togetherNOYES (include the parent the student lived with most during the last 12 months. If equal time, include the income from the parent who provided most of the student’s financial support during the last 12 months) Parent and step-parent, living togetherYESNO Legal guardians * NO Foster Parents * NO Grandparents, brothers, sisters, uncles, or aunts * NO “Parent” means biological/adoptive parent – gender of biological or adoptive parents is not relevant. * Students living with legal guardians, foster parents, or relatives are usually considered to be independent students.

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34. Section 5 STUDENT INCOME AND ASSETS

35. * Consult a tax professional to determine if your student is required to file a tax return

36. Special Circumstances Contact the Financial Aid Office if there are circumstances which affect a family’s 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 family’s ability to contribute to higher education 36

37. Application Filing Tips Check the FAFSA for accuracy prior to submission Save all work periodically Sign the application using student’s FSA ID and one custodial parent’s FSA ID Print a copy of the FAFSA before submitting it Keep a copy of the Submission Confirmation Page Check each college’s financial aid website for other required applications (e.g., CSS Profile) 37

38. What Happens Next? Students and the colleges the student listed will receive a Student Aid Report (SAR) 3 to 5 days via email Students who complete FAFSA and Cal Grant GPA Verification will receive a California Aid Report (CAR) Students and families should review SAR and CAR for important information and accuracy of data – Update and correct Track your Cal Grants at www.webgrants4students.orgwww.webgrants4students.org Colleges send notices of financial aid eligibility to admitted students who have completed all required financial aid forms through web portals (check these OFTEN!!!) 38

39. If You Need Help at Any Time FAFSA on the Web – Live Help 1-800-4-FED-AID or 1-800-433-3243 Website: www.fafsa.ed.govwww.fafsa.ed.gov Email: FederalStudentAidCustomerService@ed.gov 39

40. FREE CASH FOR COLLEGE 40 Cash for College Workshop January 25 – Patti Baker Theater 6:00pm to 8:00pm Get help with the FAFSA, Dream Act, and Cal Grant applications Students who attend and submit their FAFSA may be eligible for one of SIX $250 scholarships

41. Questions and Answers 41