copyright 2008 financial aid overview 2009-2010 presented by the east bay cash for college coalition...
TRANSCRIPT
Copyright 2008
Financial AidOverview2009-2010
Presented by The East Bay Cash for College Coalition
Presenter: ……..
Presentation available for download at:www.eastbayconsortium.org
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Cash for College $1,000 ScholarshipEvaluation
Complete and turn in the Student Evaluation BEFORE you leave!
• Location and Date
• Write Clearly!
• Scholarship Rules on pg 2
• Must submit your FAFSA and Cal Grant GPA by March 2nd
• Winner will be chosen after March 2nd and announced by your counselor or by a letter mailed to the address provided.
• Scholarship will be sent to the college.
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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
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Financial Aid Award Letter
All Financial Aid Award letters include the following:
• Cost of Attendance (or Student Budget)
• Expected Family Contribution
• Aid Offered - grants- work-study- loans- scholarships
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Types of Applications
FAFSA
Cal Grant GPA Verification Form
Check college websites for additional forms such as:
– CSS Financial Aid Profile
– Scholarships Applications
– CCC Board of Governor’s Fee Waiver
May need to provide a copy of your family’s 2008 Federal tax returns
GPA Form
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2009-2010 Cal Grant Application Requirements
Check with your high school or college counselor for more details on how to file your Verified GPA for Cal Grant consideration.
www.calgrants.org
By March 2, 2009, complete and submit:
Free Application for Federal Student Aid
(FAFSA)
Cal Grant GPA
Verification Form
OR
Release Form
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Citizenship Status
A valid social security # (for the student only) is required on the forms for federal and state financial aid.
You may be eligible for in-state tuition costs at California public colleges or universities.
Check with colleges and universities to see if institutional financial aid is available.
Apply for all private scholarships for which you may be eligible
For more information and a list of scholarships, go to:
www.latinocollegedollars.org
NOTE: if you are undocumented or under-documented
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Special CircumstancesContact the Financial Aid Office if there is:
– Loss or reduction in parent or student income or assets
– Death or serious illness
– Natural disasters affecting parent income or assets
– 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
– Any other unusual circumstances that affect a family’s ability to contribute to higher education
See presenter for handout on Special
Circumstances documentation
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FAFSA Information & TipsFile early, but no later than March 2, 2009
Use estimated 2008 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
PINs available in Real Time thru the FAFSA Website:
www.fafsa.ed.gov
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FAFSA on the WebWorksheet
Black = questions for student
Purple = questions for parent
READ all instructions and gather what you need to complete this form!
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Your Social Security Number (Q8)Your last name (Q1)
List the student’s name and Social Security number exactly as they appear on the Social Security card.
Both will be compared through a database match process.
1 2 3 4 5 6 7 8 9
HERNANDEZ-GARCIA
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a. If U.S. citizen, status will be confirmed by a Social Security match.
b. If eligible noncitizen, SSN and ARN will be confirmed by Department of Homeland Security (DHS) match.
Write in your eight- or nine-digit Alien Registration Number (ARN)
c. If neither a citizen or eligible noncitizen, you are ineligible for federal/state aid, but might still be eligible for state or institutional funds.
Citizenship Status (Q14, Q15)
0 1 2 3 4 5 6 7 8
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Selective Service Registration (Q22)
MALE students will be entered into a database for use if there is a draft. There has not been a draft since 1973.
If you are not 18 as of the day you submit your FAFSA, you can leave it blank, but remember to select “Register me” on next year’s FAFSA.
For more information, go to:
www.sss.gov
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• Interest in Work-study and Loans does NOT obligate you to work or borrow, nor will it cause you to lose grants and scholarships.
• Answering “Neither” may restrict some options for limited loans and work-study funds.
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Work-study and Loans? (Q31)
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Section 2Determination of Student Dependency Status
You will need proof if you answer YES.
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Dependency (continued)
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Section 3 – Parental Information
See top of Page 4 about who is considered a parent:
– Biological or adoptive parent(s)
– Stepparent (regardless of any prenuptial agreements)
– Use only one parent’s information if divorced or separated
DO NOT include information on:
- legal guardians
- grandparents, or
- other relatives
See presenter for handout on Special Circumstances
documentation
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Father’s and/or Mother’s SSN, Last Name, and Date of Birth (Q63-70)
2 3 4 5 6 7 8 9 0
JONES
0 5 0 3 1 9 5 9
0 0 0 0 0 0 0 0 0
PARKER
0 7 1 9 1 9 6 0
Information should be listed as they appear on the parent/s’ Social Security Card for a database match
If parent does NOT have a SSN, enter 000-00-0000
Do NOT include additional information on parent if single, divorced, separated, or widowed.
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Parents’ Tax Return Filing Status for 2008
Q82 NOT in Worksheet:For 2008, have your parents completed their IRS income tax return?
- My parents have already completed their return.- My parents will file, but they have not
completed their return.- My parents are NOT going to file (skip to Q89)
Type of income tax return (Q83-84)
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Parents’ Household 2008 Federal Benefits
Indicate if you, your parents, or anyone in your parents’ household received benefits in 2008 from any of the federal programs listed.
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Parent Assets (Q91)
Report the current balance of your parents’ cash, savings, and checking accounts as of the day you complete the FAFSA.
2,155
TIP: Report available cash (after the bills are paid)
NOTE: Some financial aid offices may request supporting documentation for the answers to these questions.
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Parent Assets (Q92)
• bonds and other securities
• Coverdell IRAs
• 529 plans
• installment and land sale contracts
• commodities, etc.
Net Worth means current value minus debt
Investments include:
• real estate (other than parents’ home)
• trust funds
• UGMA and UTMA accounts
• money market and mutual funds
• certificates of deposit
• stocks and stock options
7,900
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001170 001328 023456
Section 5 – School Information
034567
• List up to 10 colleges - that you have applied and/or are planning to apply
• List at least one California College 1st, 2nd or 3rd, for Cal Grant consideration
• List those schools with the earliest financial aid deadlines, regardless of whether they are in-state or out-of-state
• Find school codes at: www.fafsa.ed.gov
• List a community college for summer 2009!
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What Happens Next?
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 financial aid
applications and determine aid eligibility
Colleges mail notices of financial aid eligibility to
admitted students who have completed all required financial aid forms
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Summary of the Financial Aid Process
Submit all required forms, including the FAFSA, by each college’s published deadlines (but no later than March 2)By March 2, submit a Cal Grant GPA Verification Form (or Release Form)Keep a copy of all forms submittedReview the Student Aid Report (SAR) and California Aid Report (CAR) for accuracyWatch for financial aid award notifications from colleges to which the student has been admittedBe 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!
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Questions and Answers