Financial Aid: 2014 Provided by: Robert Vela High School Financial Aid Office Robert Vela High School The Legacy of Excellence Continues.
RVHS PARENT FAFSA ORIENTATION Applying for Financial Aid – Getting Started! January 30, 2014 Presented by: The University of Texas Pan American South Texas College
What is the FAFSA?Free Application for Federal Student Aid www.fafsa.gov • Free online government application can be used for universities and colleges nation wide. • Used to apply for Grants, Work Study andLoans • Funds are awarded to HS graduates upon registration of courses • Seniors 2013 will complete FAFSA on Monday, February 18th, FAFSA Night at the RVHS Library & Computer Labs
Before we begin, have you applied for your FEDERAL PIN Number#? • Log onto www.pin.ed.gov • Your Pin # will serve as your SIGNATURE on the FAFSA Application. • PARENTS & STUDENTS WILL BOTH NEED A SIGNATURE PIN # TO SIGN THE FAFSA
FAFSA PROCESS – Part 1 Step 1: Complete the FAFSA • By appointment (please call K. De La Garza at 289-2650 Ext. 6448 or 6481). • FAFSA Night 2013 (Tuesday, February 18, 2014) Income Tax forms and W-2s are required, unless you do NOT file income taxes. Step 2: Student Aid Report Step 3: Verification Form or Award Letter
FAFSA PROCESS #1: Beginning the Application Process • You want to complete the Free Application for Federal Student Aid (FAFSA) by visiting www.fafsa.gov • You must complete a new application for each academic year. • 1 Academic Year = Fall, Spring & Summer I or Summer II semesters. To complete this, you will need your income tax returns for 2013.
DOCUMENTS NEEDED on Feb. 18thto complete FAFSA at RVHS: • 2013 Federal Income Tax Forms • IRS Data Retrieval System tool in the FAFSA • If not using IRS DRS, you will need to request IRS Tax Return Transcript at www.irs.gov • 2013 W-2 Forms • Child Support paid or received • Social Security/Alien Registration Numbers • Dates of Birth for parents • Marital Status Dates (Divorced, Widowed, etc.) • Balance of cash, checking, and savings accounts • Other financial documents
Dependency Status INDEPENDENT status only and if: • You are 24 years of age, or • You are working on a master’s or doctorate program • You’re are married, or • You have children whom you provide more than 50% support for, or • You have dependents other than your children or spouse, or • Both parents are deceased or you are a ward/dependent of the court, or • You are currently serving on active duty for purposes other than training in the U.S. Armed Forces, or • You are a Veteran of the U.S. Armed Forces.
DOCUMENTS NEEDED: • FAFSA for students beginning college Summer 2014 • Available now! • What do you need? • Your and your parent’s 2012W-2 forms • Your and your parent’s 2012income tax returns • Deadline: As soon as possible • FAFSA for students beginning college Fall 2014 • Available January 1, 2014 • What do you need? • Your and your parent’s 2013W-2 forms • Your and your parent’s 2013income tax returns • Priority Deadline - February 28, 2014
LINKING YOUR INCOME TAX TO THE IRS is part of the FAFSA process • Order your Tax Return Transcript online at www.irs.gov • Or print form 4506-T under • “Forms and Pubs” • Available two weeks after your income tax forms have been submitted to IRS
Linking to the IRS (cont.) • This is located on the FAFSA Application!!!!!! • You can LINK to the IRS to have them directly transfer your information 2-3 weeks after you filed your income taxes by going back to your FAFSA to make corrections and click on “link to IRS” electronically. • You must have EXACT matching information.
Step #2: Student Aid Report (SAR) Step 2: Student Aid Report • This is a Summary of information submitted on FAFSA. • SAVE THIS ! • Review this to make sure that all information is correct! If not, go back to FAFSA & make your corrections at www.fafsa.gov • You will receive this in your e-mail 3-4 days after submitting FAFSA. • All information should be submitted electronically. (Avoid Mail to expedite the process, unless a non-resident of the U.S.)
Step 3: Verification Form or Award Letter • Universities may require a verification form. Requirements differ between universities. (bring letter to the Financial Aid Office). • Award letter sent to student ONLY if you have been accepted by that university!
Financial Aid EFC Financial Aid EFC Code = 0 (Qualifies for Pell Grant)Financial Aid EFC Code = 9999 (Eliminated from Grants)Asterisk next to the EFC = Selected for Verification Cost of Education – Estimated Contribution = Financial Aid Needed $16,000 - $6,500 = $9,500 Financial Aid Award may consist of: Grants Work/Study Loans
Types of Financial Aid When Applying with FAFSA: A. Grants • FREE Money B. Work/Study Program • Part-time job C. Loans • Money you have to pay back
Types of GRANTS: Based on need • Federal Grants: • Pell Grant = EFC = 0 • Federal Supplemental Educational Opportunity Grant (FSEOG) • Federal Work-Study • Hazelwood for Veterans or dependents. • State Grants: • Towards Excellence, Access and Success Grant (Texas Grant) – Must graduate Distinguished / Recommended • Texas Educational Opportunity Grant (TEOG) • Texas Public Education Grant (TPEG) • Students who are non-residents are eligible for state aid **This is a legislative year, so amounts are yet undetermined.
Work Study Program Work-study program is a part-time job to help student make extra money • Jobs on and off-campus • Earn money and gain experience • Flexible work schedules • If your student qualifies for the Work/Study program, please encourage them to take advantage of the opportunity! • Statistics show that college students who work 10-14 hours a week have better GPAs. “Be a student worker – not a working student”
Types of Student Loans /Federal & Institutional Loans Loans can be borrowed for college BUT must be paid back • Federal Direct Stafford Loan – Rates 3.4% currently • Student Loans: No credit check because of new credit • Subsidized – No Interest while in school • Unsubsidized – Interest accruing while in school • Perkins Loan – Institution loans • Student Loan • Direct Parent Plus Loans – Rates 7.9% currently • Need credit check on parent’s information • B-On-TimeLoan program – hhloans.com – Contingent upon funding. • A STUDENT IS NEVER OBLIGATED TO TAKE THE ENTIRE AMOUNT!
DON’T FORGET ABOUT SCHOLARSHIPS!!!!!! • Scholarships • Top 10% Scholarship - Eligible for $2,000 if legislature votes on this because it is a legislative year • Institutional Scholarships – Will begin awarding • Valedictorian Scholarship – 100% Tuition Pd. • Private scholarships – VAMOS , STARS, Housing Scholarship • Lists are available monthly at our office & RVHS Financial Aid Website
Do NOT attend meeting or give them credit card number or money! BEWARE OF SCAMS
Reviewing the Financial Aid Process • Family completes FAFSA • FAFSA sent to processor • Processor sends data to up to ten schools as reported on the FAFSA • Each school evaluates application and creates an award package • Award letter sent to student • Student returns award letter to school • School concludes award processing • University financial aid office pays bills and produces checks PRIORITY FAFSA FILING: FEB. 28, 2014
RSVP FOR THE RVHSFAFSAEVENT Tuesday, February 18, 2014 • Robert Vela H.S. LIBRARY & Computer Labs • 6:00-8:00pm • Bring all necessary documents. FAFSA Days 8:00 a.m.- 4:00 p.m. Available in the Financial Aid Office *By appointment Thank you!
Robert Vela High School 956-289-2650 Erica Alvarez Financial Aid Asst. firstname.lastname@example.org Kristy De La Garza Financial Aid Officer email@example.com 956-289-2650 ext. 6448