1. Welcome to College Goal Alaska 2016

2. 2015 Partners & Sponsors
Coalition of Alaskans Supporting Higher Education
2016 Sponsors:

3. Understanding the FASFA
Presenter:

4. Understanding the FAFSA
THE FAFSA PROCESS

5. The FAFSA Free Application for Federal Student Aid
Evaluates a family’s eligibility for federal student aid programs
Serves as application for state scholarships/grants
Bases financial capacity on prior year
Students must re-apply each year
Assets may change from year to year
Most importantly – it’s FREE!

6. FAFSA Goals Determines Expected Family Contribution (EFC)
A measure of your family’s ability to pay for college
Used to determine your eligibility for federal student aid for a single school year
Everyone should file a FAFSA
No income cutoff
Required for federal and state aid
Often required for campus-based aid
Many public and private scholarships require FAFSA
Alaska Performance Scholarship

7. Timelines for Filing the FAFSA
Available after January 1
Best to file by mid-February
Don’t wait until you file your taxes – you can use 2014 information or estimates to meet deadlines, and update your FAFSA after you’ve filed your taxes.
AEG – as early as possible; APS deadline: June 30
Some programs award funds on first-come, first-served basis
Some colleges have early deadlines
Check deadlines on college websites
Don’t wait until after admission to the school

8. Getting Ready Before starting the FAFSA, gather:
Student’s driver’s license
Student Alien Registration Card
For both student and parent, be sure to have:
Social Security cards
Access to in order to verify FSA ID (Better yet – get your FSA ID in advance!)
2015 W-2 Forms & records of money earned & other taxable benefits
2015 Federal income tax form
Records of untaxed income
Current bank statements
Business, farm, & other real estate records
Records of stocks, bonds, & other investments

9. fsaid.ed.gov Create an FSA ID
The FSA ID – a username and password– has replaced the Federal Student Aid PIN and must be used to log into the FAFSA website
Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents
Both the student & one parent need to create their own personal FSA ID in order to have access to Federal Students Aid’s online system and sign the FAFSA electronically
fsaid.ed.gov

10. www.fafsa.ed.gov File your FAFSA Online
Internet application used by students & parents to complete electronic FAFSA
Quick online edits to reduce likelihood of errors/delays
Easy on-line help available for each question

11. Questions on the FAFSA
SECTION 1: Demographic information about the student & schools you are considering attending
SECTION 2: Determination of student dependency status
SECTION 3: Parental information for dependent students
SECTION 4: Student finances & information about the independent student

12. Completing the 2016-2017 FAFSA on the Web Worksheet
A line-by-line discussion
Traditional student emphasis (straight out of high school)
Anyone can file a FAFSA
Traditional students
Non-traditional students
Older returning students
Graduate school students

13. Student Aid Report (SAR)
SAR sent to student within 2 weeks
Review it for accuracy
Report any changes
SAR sent to schools listed on FAFSA
School will use EFC to determine your financial need
School sends award letter to student or requests additional information

14. Finding Your EFC Expected Family Contribution
Located in upper right hand corner of SAR

15. Other Forms Some schools require additional paperwork
CSS Financial Aid PROFILE
Not a federal requirement, check with your school to see if it’s necessary
Campus scholarship application
Ask what forms the college requires!

16. Award Letters Schools may send paper or electronic award letters
Award letters show the amount of financial aid you will receive at the school
Can include grants, scholarships, work-study, and loans
Compare award letters at
You have to act on the award letter – you can accept all or part of the award package, or decline it.

17. State Programs & Awards
By filing the FAFSA, you’ve applied for your state grant and scholarship programs.
Your initial award letter may not reference the Alaska Performance Scholarship (APS) and Alaska Education Grant (AEG), even if you do qualify.
Sign up for an Alaska Student Aid Portal account at APS.alaska.gov to monitor your eligibility status, and take any required action.

18. Verification Save copies of documents used for your FAFSA
Be prepared to provide additional information
Colleges verify 30% of all applicants’ information
Colleges cannot certify many types of aid unless the student/family provides the necessary information by the verification deadline

19. Section 1 - Student Demographics and Schools
Getting STARTED

20. FAFSA Login

21. Create an FSA ID fsaid.ed.gov
Step 1: Create a username and password, and enter your address, confirm both, answer the question about your age, and click on continue
Step 2: Enter your name, date of birth, Social Security number, contact information, and challenge questions and answers
Step 3: If you have a Federal Student Aid PIN, you will be able to enter it and link it to your FSA ID
Step 4: Review your information, and read and accept the terms and conditions
Step 5: Confirm your address using the secure code, which will be sent to the you entered when you created the FSA ID
fsaid.ed.gov

22. FAFSA Renewal

23. Establish a Password

24. Introduction Page

25. Student Demographic Info
Full Name
Social Security #
Date of Birth
Gender
Mailing Address
State of Residency
Phone #
Address
Marital Status
Driver’s license

26. Student Eligibility Screen

27. Selective Service Registration

28. Student Aid Eligibility and Education Status

29. Student Work-Study

30. Parent’s Education
Indicate the highest level of school your father and mother completed. Some states and colleges offer aid based upon this.
Use birth parents or adoptive parents, not step-parents, legal guardians, or foster parents

31. Student Eligibility (continued)

32. School Selection

33. School Housing Plans

34. Section 2 - Is parental information required?
Dependency STATUS 34

35. Dependency Determination

36. Dependent or Independent?
ANY “YES” answers = independent student
You will not have to provide parent information
ALL “NO” answers = dependent student
You must provide parent information

37. Special Circumstance
If dependent, and you submit without parental information…
Your FAFSA is not complete
No EFC calculated
You must contact the financial aid office
Their decision is final

38. Section 3 - Dependent students only
PaRENTAL INFORmation 38

39. Parents Who is a parent? Biological parents Adoptive parents
Step-parents
Who is not a parent?
Grandparents
Foster parents
Legal guardians
Older siblings
Aunts or uncles

40. Parent Identifying Info
If applicable, your parent’s month and year of marriage
Father/stepfather’s SS#, name, DOB
Mother/stepmother’s SS#, name, DOB
address (for parents)
State of residence

41. Parent Household
Household size includes parents, the student, and other dependents
For household college students:
Always include the student even if he/she will attend college less than half time in
Include other household members if they will attend at least half time in in a program that leads to a degree or certificate
Never include the parents 41

42. Parent Tax Information

43. IRS Data Retrieval
If your parents answer “Already completed,” they will be given the option to transfer their 2015 income tax information directly from IRS records
If filing the FAFSA within 3 weeks of having filed your tax return electronically (or by mail within 11 weeks), you will need to use your actual 2015 IRS tax return to complete the FAFSA so you do not miss any important financial aid deadlines. 43 43

44. Parent Financial Information

45. Parents’ Adjusted Gross Income (AGI)
What type of income tax return will your parents file for 2015?
What was your parents’ AGI for 2015?
1040 line 37
1040A line 21
1040EZ line 4
Only asked if your parents filed taxes.

46. Parents’ Earnings from Work
Enter how much each of your parents earned from working in 2015 (wages, salaries, tips, etc.)
W2 forms – box numbers 1 + 8
1040 line
1040A line 7
1040EZ line 1

47. Dislocated Worker Is either of your parents a dislocated worker?
A person may be considered a dislocated worker if he/she:
is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation;
has been laid off or received a lay-off notice from a job;
was self-employed but is now unemployed due to economic conditions or natural disaster;
is the spouse of an active duty member of the Armed Forces and has experienced a loss of employment because of relocating due to permanent change in duty station;
is the spouse of an active duty member of the Armed Forces and is a displaced homemaker;
or is a displaced homemaker.

48. Parents’ Household Benefits
In 2014 or 2015, did your parents or anyone in your parents’ household receive any of these benefits?
Supplemental Security Income (SSI)
Supplemental Nutrition Assistance Program (SNAP)
Free or Reduced Price Lunch
Temporary Assistance for Needy Families (TANF)
Special Supplemental Nutrition Program for Women, Infants, and Children (WIC)
Check all that apply

49. Parents’ U.S. Income Taxes and Tax Exemptions
Enter the amount parents paid (or will pay) in U.S. income tax for 2014?
Form 1040 – Subtract line 46 from line 56 and enter the total
Form 1040A – Subtract line 36 from line 28 and enter the total
Form 1040EZ – Use line 10
Enter the parents’ tax exemptions for 2014
Form 1040 – Use line 6d
Form 1040A – Use line 6d
IRS Form 1040EZ and did not check either box on line 5,
enter 01 if they are not married or 02 if they are married
IRS Form 1040EZ and checked either the "you" or "spouse" box on line 5,
use line F on EZ worksheet to determine number of exemptions ($4,000 equals one) 49

50. Additional Parent Financial Information
Did your parents have any of the following in 2015?
Check all that apply
You will be asked to report amounts online

51. Asset Net Worth Question

52. Error Message on Asset Net Worth Question

53. Section 4 - Student (and spouse) income.
STUDENT INFORMATION 53

54. Student Information
Questions in Section 4 are identical to the parent financial questions covered in Section 3
If the student is married, also report spouse’s income and assets
The questions in Section 4 ask:
For 2015, has the student completed their IRS income tax return
For 2015, what is the student’s filing status
Which 2015 federal tax return the student filed or will file
The student’s 2015 Adjusted Gross Income, if filing a tax return
The student’s earnings from work
The student’s untaxed income and assets
If the student is a dislocated worker
The student’s total current assets as of the FAFSA filing date

55. Congratulations! You’re Nearly Done!
After you have entered all your information online:
Sign and submit electronically
Or print, sign and mail your signature page
Remember – do not mail the worksheet
Print your confirmation page
You can go back to update your information any time after you file the FAFSA
If you selected “will file” you will be required to do this after you complete your 2015 tax return.

56. For More Information 800-4FED-AID (800-433-3243) www.studentaid.ed.gov
Contact the school you plan to attend
Contact Federal Student Aid at:
800-4FED-AID
( )