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Key Financial Aid Tools and Resources for Students and Administrators

Discover essential tools and resources for understanding financial aid dynamics at AIB College of Business. This agenda covers services for new and current students, graduates, and financial aid administrators. Learn about the FAFSA4Caster for estimating your Expected Family Contribution (EFC) and explore federal funding estimates. Understand loan repayment programs, financial literacy initiatives, and the importance of using resources like the National Student Loan Data System (NSLDS) for accurate financial insights. Stay informed with the latest financial aid updates and workshops.

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Key Financial Aid Tools and Resources for Students and Administrators

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  1. New Bee: Online Buzz Tristan Lynn, Director of Financial Aid AIB College of Business

  2. Agenda • Tools for Assisting Students • New/Perspective Student • Current Student • Graduates • Tools for Financial Aid Administrators • Daily Job Tasks • Regulations • Training

  3. FAFSA4Caster • Uses • Estimate your EFC • Federal funding estimate • Issue • Can’t play with the numbers • Website • FAFSA4Caster

  4. FAFSA4Caster

  5. College Board • Uses • Estimates EFC • Can play around with numbers better • Issue • Not exact • Website • College Board EFC Calculator

  6. College Board EFC Calculator

  7. FAFSA • Students complete to get EFC • Can be completed Online or in paper form • Online is recommended for quickest results • Questions while completing • Instructions are on the side of page when completing • Read Instructions (Paper Form) • Worksheets – Don’t have all pertinent information • Website • FAFSA

  8. FAFSA

  9. Studentloans.gov • Financial Awareness Counseling • Exit Counseling • Entrance Counseling • Master Promissory Note • Plus • Direct • Website • StudentLoans.gov

  10. Studentloans.gov

  11. Financial Literacy • Financial Awareness Counseling • Iowa Student Loan • Student Loan Game Plan • Return on College Investment (ROCI) • Great Lakes Financial IQ • Iowa College Access Network (ICAN) Financial Literacy College Series

  12. Financial Awareness Counseling

  13. Iowa Student Loan

  14. Great Lakes Financial IQ

  15. ICAN Financial Literacy College Series

  16. Loan Forgiveness • Loan Repayment Programs • Attorney • Federal Employee & Public Service Employee • Health Care • Teacher • Website • Iowa College Student Aid Commission

  17. Loan Forgiveness

  18. Repayment Plans • Types • Standard • Graduated • Extended • Income-Based (IBR) • Pay As You Earn • Income-Contingent • Income Sensitive • Website • Federal Student Aid

  19. Repayment Plans

  20. NSLDS for Students • National Student Loan Data Systems • Information for Students • Amount of debt • Interest and Principal • Servicers • Contact Information • Website • NSLDS

  21. NSLDS for Students

  22. NSLDS for Financial Aid Professionals • National Student Loan Data Systems • Information for Financial Aid Professionals • Student Information • Loans and Grant Amount • Aggregate Information • Reports • Delinquent Borrower Report • Transfer Monitoring List • Cohort Default Rate • Website • NSLDS • Two Factor Authentication to Access

  23. NSLDS for Financial Aid Professionals

  24. FAFSA Demo • Allows you to complete sample FAFSA • Available at the FSA Conference in November/December • Last couple of years, not available until last minute • 2014-2015 • User Name: eddemo • Password: fafsatest • Can’t do IRS data retrieval • Website • FAFSA Demo Site

  25. FAFSA Demo

  26. Common Origination & Disbursement (COD) • Access to a student information • Loan Information • Counseling • Master Promissory Notes • Pell Amounts • Plus Applications • More up to date than NSLDS • Website • COD • Two Factor Authentication to Access

  27. Common Origination & Disbursement (COD)

  28. Information for Financial Aid Professionals (IFAP) • Federal Student Aid Handbook (FSA) • Application and Verification Guide • Dear Colleague Letters • Federal Registers • Electronic Announcements • My IFAP • Weekly Digest • Specific Financial Aid Areas • Website • IFAP • No Login Necessary!

  29. Information for Financial Aid Professionals (IFAP)

  30. National Association of Student Financial Aid Administrators (NASFAA) • NASFAA News • Federal Updates • Research Papers • Compliance • Policies and Procedures Guide • Website • NASFAA

  31. National Association of Student Financial Aid Administrators (NASFAA)

  32. ListServs • Automatic Mailing Lists • FINAID-L • FSATECH • IASFAA • Membership Profile • MASFAA • Membership Profile • Software Provider • Admissions • Registrar ***Daily Synopsis***

  33. Additional Resources • IASFAA • State, Federal, Publication, Association, and Other Resources • College Board • Federal Student Aid • FSA Coach • Inside Higher ED • Iowa College Student Aid Commission • College Aid Insider • Many more resources available!

  34. Colleagues • Conferences • IASFAA • MASFAA • NASFAA • FSA • Other Events • Drive-In Workshop • Support Staff Workshop • Networking

  35. Questions?

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