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ISFAA High School Guidance Counselor Workshop 2012

After the FAFSA. ISFAA High School Guidance Counselor Workshop 2012. Agenda. Updates/Changes FAFSA Completion Tool The Student Aid Report (SAR) IRS Data Retrieval - Corrections Professional Judgment Cost Comparison Worksheet The Financial Aid Office. Updates and Changes

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ISFAA High School Guidance Counselor Workshop 2012

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  1. After the FAFSA ISFAAHigh School Guidance Counselor Workshop2012

  2. Agenda • Updates/Changes • FAFSA Completion Tool • The Student Aid Report (SAR) • IRS Data Retrieval - Corrections • Professional Judgment • Cost Comparison Worksheet • The Financial Aid Office

  3. Updates and Changes Reference www.studentaid.ed.gov Eligibility of Students Without a High School Diploma– July 1, 2012Federal Pell Grant Program – Duration of EligibilityDirect Student Loan Changes – Interest Rates and subsidies

  4. FAFSA Completion Tool • Allows high schools to track the students who have completed/submitted a FAFSA • Information is reported by: • State • FAFSA’s submitted online • FAFSA’s completed (not yet submitted) • http://studentaid.ed.gov/about/data-center/student/application-volume/fafsa-completion-high-school

  5. SAR Student Aid Report Paper SARPaper SAR AcknowledgementEmail Notification of SAR Processing

  6. Corrections Families submit the FAFSA with estimated tax information to comply with Indiana State Deadline of March 10th. Use the IRS Data Retrieval Tool to update the income information on the FAFSA before May 15th. Correct information that was reported incorrectly as of the date the FAFSA was originally completed.

  7. IRS Data Retrieval

  8. IRS Data Retrieval

  9. IRS Data Retrieval

  10. IRS Data Retrieval

  11. Professional Judgment When is professional judgment used?How does the process work?Who makes determination?

  12. Cost Comparison Cost of AttendanceDirect CostsIndirect CostsFederal Shopping Sheet

  13. Cost of Attendance • Can Include: • Tuition • Standard Fees • Room and Board • Books and Supplies • Transportation • Personal Expenses Allows students to receive financial assistance for both the direct and indirect cost of attending an institution.

  14. Direct Costs • “Standard” charges for students as a whole or a specific cohort of students (i.e. in-state vs. out-of-state, tuition by major, etc). • Charged directly to student account / documented on billing statement as charges owed to the school • Tuition, fees, on-campus room, board

  15. Indirect Costs • Costs associated with attending the school which will vary from student to student. • May not be documented on billing statement as charge is not from school. • Books and supplies • Travel costs in getting from home to school, vice versa • Personal: laundry, health, entertainment, etc

  16. Federal Shopping Sheet • New for 2013/2014 academic year • Result of Department of Education collaboration with students, parents, college counselors, and aid administrators. • Schools are not mandated to use the form (at this time) • http://collegecost.ed.gov/shopping_sheet.pdf

  17. Building Relationships Tools and Checklist http://studentaid.ed.gov/prepare-for-college/checklists/12th-grade

  18. Questions

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