slide1 n.
Skip this Video
Loading SlideShow in 5 Seconds..
Applying for Financial Aid 2009-2010 PowerPoint Presentation
Download Presentation
Applying for Financial Aid 2009-2010

Applying for Financial Aid 2009-2010

105 Views Download Presentation
Download Presentation

Applying for Financial Aid 2009-2010

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. Applying for Financial Aid 2009-2010

  2. Sponsors/Partners:Presenter:

  3. What Will You Learn Today? Types and sources of financial aid Required financial aid application forms How to complete the Free Application for Federal Student Aid (FAFSA) Answers to your individual question

  4. 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

  5. Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers Sources of Financial Aid

  6. TOPS • The TOPS program was created by the Louisiana legislature in 1997 under the administration of Governor Mike Foster • 1998 was the first award year for both 1997 and 1998 graduates • TOPS is funded through the State General Fund and the Millennium Trust Fund • TOPS funds must be appropriated each year by the Legislature

  7. TOPS: Academic Requirements • All TOPS core curriculum courses must be completed by the date of high school graduation

  8. TOPS: Core Curriculum GPA • The grade point average (GPA) used to determine eligibility for the TOPS program will be calculated using only those grades achieved in the TOPS core curriculum courses • Uses the highest grade in each core category • Courses not graded on a 4.00 scale must be converted to a 4.00 scale • Letter grades of “P” are not included • TOPS Core GPA cannot be rounded up

  9. TOPS: ACT • ACT Registration • TOPS Code 1595 • Social Security Number • ACT Deadlines for 2009 Graduates • Without penalty: April 4, 2009 • Loss of one semester eligibility: June 13, 2009 • Highest composite score will be considered • TOPS does not consider the Essay portion of the ACT

  10. TOPS: SAT • SAT Registration • Scholarship Code 9019 • Social Security Number • SAT Test Deadlines • Without Penalty: March 14, 2009 • Loss of 1 semester eligibility: May 2, 2009 and June 6, 2009 • An equivalent SAT score may be substituted for the ACT score • TOPS does not consider the Essay portion of the SAT

  11. TOPS: Application • Two methods for applying for TOPS: • FAFSA (Free Application for Federal Student Aid) – • Preferred application • Must be completed if the student is eligible for federal grant aid (Pell Grant) • Must be completed if the student is seeking any other form of financial aid • The only application needed for TOPS • TOPS Online Application – • May only be completed by students who can certify that they do not qualify for federal grant aid • In the event of a budget shortfall, students completing the TOPS Online Application will be the first to lose their TOPS award • Do not complete if you have completed the FAFSA

  12. TOPS: Application Deadlines2009 Graduates

  13. TOPS: Processing Cycle • Student applies by completing the FAFSA or TOPS Online Application • LOSFA receives ACT or SAT scores electronically based on the inclusion of the TOPS code on the test registration • LOSFA receives transcript data from the La. Department of Education after high school graduation

  14. TOPS: Processing Cycle • Once all required data is received, TOPS eligibility is determined each Thursday night • TOPS eligibility letters are mailed each Friday. Students can also check their award status on the TOPS Portal located on • Most students will be notified of their TOPS eligibility by early July • A Master Roster of TOPS eligible students is available for colleges and universities to download each Monday

  15. TOPS: Processing Cycle • Most colleges and universities will include an anticipated TOPS credit on the student’s fee bill after receiving the TOPS Master Roster • Colleges and universities may begin billing LOSFA for TOPS eligible students who are full-time students after the 14th class day of the term • LOSFA will send all TOPS funds to the institution to be applied to the student’s account

  16. TOPS: Award Acceptance • Must enter an eligible institution as a full-time student by the fall semester following the first anniversary of high school graduation • Exceptions: • Returning Out-of-State Students • Military Service

  17. TOPS: Retention Requirements • Should apply annually by July 1st by completing the Renewal FAFSA • Must be continuously enrolled on a full-time basis during the academic year • Must earn 24 credit hours each academic year • Failure to earn 24 hours will result in permanent award cancellation • Exceptions to the continuous enrollment or 24 hour requirement may be granted for reasons beyond the student’s control

  18. TOPS: Retention Requirements • GPA • At the end of each Spring term, the following cumulative college GPA must be achieved: • Opportunity Award: • 2.30 first academic year • 2.50 all subsequent academic years • Opportunity Award recipients who fail to maintain the retention GPA will be suspended • Performance and Honors Awards: 3.00 • Performance or Honors award recipients who fail to maintain a 3.00 cumulative GPA will revert to the Opportunity Award (see above requirements) • Tech Award: 2.50

  19. TOPS: Retention Requirements At the end of any other term, Steady Academic Progress of a 2.00 cumulative college GPA must be maintained or the award will be suspended

  20. Other State Aid Programs • Go Grant • LA LEAP Grant • Rockefeller State Wildlife Scholarship • Louisiana Guaranteed Loans • Healthcare Educator Loan Forgiveness Program

  21. Need-Based Grants Federal Grants Pell Grants $4,731 maximum per year Academic Competitiveness Grants $750 for the first year $1,300 for the second year Supplemental Educational Opportunity Grants (SEOG) $4,000 maximum per year

  22. Need-Based Grants College Grants • (List various community college grants here) • (List various state college and university grants here) • Independent College Grants - amounts vary

  23. Types of Applications • FAFSA Other applications or forms as required by the college such as: • CSS Financial Aid PROFILE Institutional scholarship and/or financial aid applications • 2008 federal tax returns (along with schedules and W-2s) or other income documentation

  24. FAFSA Information & Tips File as soon as possible Use estimated 2008 income information if taxes are not complete at time of FAFSA submission Student and at least one parent whose information is required must complete and sign the FAFSA

  25. Federal PIN PIN (Personal Identification Number)serves as the electronic signature on ED documents Both student and at least one parent need PIN 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 If an e-mail address is provided, PIN will be e-mailed to the PIN applicant within hours Apply for student and parent PINs TODAY at:

  26. Getting Ready Before starting the FAFSA, gather: Student driver’s license Student Alien Registration Card Student and Parent Social Security cards 2008 W-2 Forms and other records of money earned 2008 federal income tax form (even if not 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

  27. Getting Started Read all application instructions If planning to submit the paperFAFSA: Use pen with black ink Print clearly in CAPITAL letters Fill in ovals completely Do not leave blanks (unless directed by instructions) Do not write comments or notes anywhere on form Do not use correction fluid

  28. FAFSA on the Web The 2009-2010 FAFSA on the Web Worksheet may be used for the January 1, 2009 through June 30th, 2010 federal aid application cycle

  29. TheFOTW WorksheetA Five Section Form Section 1 – is about the student Section 2 – determines student dependency status Section 3 – collects parental information for dependent students Section 4 – collects student finances and information about the independent student Section 5 – allows students to list up to ten schools to receive information from the FAFSA

  30. Section 1(page 2)STUDENT INFORMATION

  31. Section 1 Your Last Name Jones • The FOTW will ask for the student’s first and last name as well as a middle initial • Make sure to report the student’s name exactly as it appears on the student’s Social Security card

  32. Section 1Your Social Security Number 123 4 5 6 7 8 9 Double check your Social Security Number when entering it on the FOTW. Both your name and Social Security Number will be compared through a database match

  33. If U.S. citizen, status will be confirmed by Social Security match If eligible noncitizen, status will be confirmed by Department of Homeland Security (DHS) match. This includes: U.S. permanent residents with I-551 Conditional permanent residents with I-551C Eligible noncitizens with I-94 If neither a citizen or eligible noncitizen, you are ineligible for federal/state aid, but might still be eligible for institutional funds Section 1 Citizenship Status

  34. Section 1 Alien Registration Number 0 1 2 3 4 5 6 7 8 If eligible noncitizen, write in your eight- or nine-digit Alien Registration Number (ARN) • Precede an eight digit ARN with a zero • Copy of Permanent Registration Card might be requested by the financial aid office

  35. Section 1Citizenship Status if you are applying to any public college or university, check to see if you might be eligible for in-state tuition costs check with colleges and universities to see if institutional financial aid is available apply for all private scholarships for which you may be eligible watch for changes in federal and state laws regarding the eligibility of undocumented or under-documented students start inquiring in elementary, middle or high school to see if it is possible for younger students to become permanent residents NOTE: if you are undocumented or under-documented • For more information and a list of scholarships, go to • •

  36. Section 1 Your State of Legal Residence GA • Residency relates to your permanent home state • if you are dependent, the state of legal residence is usually the state in which your custodial parents live • State of legal residence is also used • to determine eligibility for state grants • in the need calculation to determine the appropriate allowance for state and other taxes paid by that state’s residents

  37. Section 1Selective Service Registration • Male students who are 18 years of age or older 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. You may also register by going to:

  38. Answer “No” if you have never received federal student grants, federal student loans or federal work-study You should also answer “No” if you have never attended college. If you answer “No” to this question, skip question 23 Section 1Federal Student Aid Question

  39. Answer “YES” if you have been convicted of possessing or selling illegal drugs while you were receiving federal student financial aid Answer “NO” if: You have no drug-related convictions of any kind but simply received student financial aid while a college student Conviction was for alcohol or tobacco Conviction was removed from your record or occurred before age 18 (unless tried as an adult) Section 1Drug Conviction Question

  40. Section 1Parents’ Educational Level Indicate highest level of schooling completedby your biological or adoptive parents (for state award purposes only) • Use birth parents or adoptive parents - not stepparents or foster parents • This definition of parents is unique to these two questions

  41. Indicate your most immediate degree or certificate objective for 2009-2010 Section 1Degree Objective

  42. Section 1Your Expected Enrollment Status at the Start of the 2009-2010 Academic Year • Report your enrollment plans for the college you are most likely to attend • If unsure, report “Full-time”

  43. Section 1Work-Study and Student Loans If you are interested in either work-study (student employment) or student loans, or both, mark the appropriate box • Indicating interest does not obligate you to either work or borrow, nor will it cause you to lose grants and scholarships • Answering “neither” may restrict some options for limited work-study or loan funds

  44. Section 2(page 3)STUDENT DEPENDENCY STATUS

  45. Section 2 Determination of Student Dependency Status

  46. Section 2 Determination of Student Dependency Status

  47. Section 2 Determination of Student Dependency Status • If you answer “no” to all questions in this section, go to Section 3. For FAFSA filing purposes, you are considered a dependent student and are required to provide parental information • If you answer “yes” to any question in this section, skip Section 3 and go to Section 4. You are considered an independent student for FAFSA filing purposes and are NOT required to provide parental information

  48. Section 3(page 4)PARENTALINFORMATION

  49. Section 3 Parental Information See Page 4 of FAFSA on the Web Worksheet about who is considered a parent Biological or adoptive parent(s) Stepparent (regardless of any prenuptial agreements)

  50. Section 3 Parental Information Do not provide information on: Foster parents or legal guardians If the student is in foster care or has a legal guardian, he/she is automatically considered an independent student Grandparents or other relatives The student must attempt to get biological parental information Colleges may use Professional Judgment to allow the student to file as independent