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Applying for Financial Aid 2010-2011

Applying for Financial Aid 2010-2011. Sponsors/Partners: Presenter:. 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 questions.

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Applying for Financial Aid 2010-2011

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  1. Applying for Financial Aid 2010-2011

  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 questions

  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. State Aid • Almost all 50 states have some form of special grant or loan aid for their state residents • Some states use the data you provide on the FAFSA to award aid; other states may require you to submit supplemental forms. • Your school counselor should have the correct form(s) for your state’s application. If the forms are not available at your school, contact your state higher education agency directly

  7. Eligibility for Mass State Aid • File the FAFSA by May 1st • Must be a permanent legal resident of Massachusetts • Enrolled full-time in a degree program

  8. 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 • 2009 federal tax returns (along with schedules and W-2s) or other income/asset documentation

  9. FAFSA Information & Tips File as soon as possible Use estimated 2009 income information if 2009 taxes are not complete at time of FAFSA submission The student and at least one parent whose information is required must complete and sign the FAFSA

  10. FAFSA ON THE WEB Internet application used by students and parents to complete electronic FAFSA at www.fafsa.gov Sophisticated on-line edits and skip logic so that errors are less likely to be made On-line help is available for each question Student and at least one custodial parent should get a federal PIN at www.pin.ed.gov

  11. Federal PIN PIN (Personal Identification Number)serves as the electronic signature on ED documents Both student and at least one custodial 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 at www.pin.ed.gov

  12. Getting Ready Before starting the FAFSA, gather: Student driver’s license Student Alien Registration Card Student and Parent Social Security cards 2009 W-2 Forms and other records of money earned 2009 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

  13. FAFSA on the Web Worksheet The 2010-2011 FAFSA on the Web Worksheet may be used for the January 1, 2010 through June 30, 2011 federal aid application cycle

  14. TheFOTW WorksheetA Four 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

  15. Section 1(page 2)STUDENT INFORMATION

  16. Section 1 Student Name J A N E J O N E S • The FOTW will ask for the student’s last name, first name, and middle initial • Make sure to report the student’s name exactly as it appears on the student’s Social Security card

  17. Section 1Student Social Security Number 1 2 3 - 4 5 - 6 7 8 9 Double check the student’s Social Security Number when entering it on the FOTW. Both student name and Social Security Number will be compared through a national database match

  18. 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, the student is ineligible for federal/state aid, but might still be eligible for institutional funds Section 1 Citizenship Status

  19. Section 1 Alien Registration Number 9 8 7 6 54 3 2 1 If an eligible noncitizen, write in the student’s 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

  20. Section 1Undocumented Students if the student is applying to any public college or university, check to see if the student 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 the student 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 the student is undocumented or under-documented • For more information and a list of scholarships, go to • www.maldef.org/pdf/scholarships.pdf • www.latinocollegedollars.org • www.finaid.org/otheraid/undocumented.phtml

  21. Section 1Student Marital Status The student should check his or her marital status as of the date the FAFSA on the Web is completed If the student is married or remarried, he or she will be asked to provide information about his or her spouse

  22. Section 1Selective Service Registration • Male students who are between the ages of 18 and 26 years of age must be registered with Selective Service to receive federal and state aid • Answer “Register me” only if the student is male, aged 18-26, and has not yet registered. • The student may also register by going to: www.sss.gov

  23. If the student has never attended college since high school, check “Never attended college” If the student has attended college since high school but never received federal student grants, loans or work-study, check “I have never received federal student aid” If the student has received federal student aid and has never had a drug conviction, check “I have never had a drug conviction” Section 1Student Aid Eligibility Drug Convictions

  24. If the student was convicted of the possession or sale of illegal drugs while receiving federal student aid, the student will be asked to complete more questions about the drug offense Simply having a drug conviction does not mean that the student will be ineligible for federal student and/or state studentaid Section 1Student Aid Eligibility Drug Convictions

  25. Section 1Parents’ Educational Level Indicate highest level of schooling completedby the student's biological or adoptive parents Use birth parents or adoptive parents - not stepparents or foster parents • This definition of parents is unique to these two questions

  26. Section 1 Student State of Legal Residence • An important question NOT on the Worksheet: • Student State of Legal Residence • Residency relates to the student’s permanent home state • if the student is dependent, the state of legal residence is usually the state in which the custodial parent(s) 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

  27. High School Completion Status When the student begins college in the 2010-2011 school year, what will be the student’s high school completion status? High school diploma GED certificate Home schooled None of the above Section 1High School Completion Status An important question NOT on the Worksheet:

  28. Grade Level in 2010-2011 When the student begins the 2010-2011 school year, what will be his/her grade level? Never attended college/1st year Attended college before/1st year 2nd year/sophomore 3rd year/junior 4th year/senior 5th year/other undergraduate 1st year graduate/professional Continuing graduate/professional or beyond Section 1Grade Level in 2010-2011 An important question NOT on the Worksheet:

  29. Degree or Certificate In the 2010-2011 school year, what degree or certificate will you, the student, be working on? Some options are: - 1st bachelor’s degree - Associate degree (occupational or technical program) - Associate degree (general education or transfer program) - Graduate or professional degree Section 1Degree or Certificate Objective An important question NOT on the Worksheet:

  30. Section 1Student Expected Enrollment Status at the Start of the 2010-2011 Academic Year An important question NOT on the Worksheet: • When the student begins the 2010-2011 school year, what does he/she expect his/her enrollment status to be? • - full-time • - ¾ time • - half-time • - less than half-time • - don’t know • Report the student's enrollment plans for the college he/she is most likely to attend • If unsure, report “full-time”

  31. Section 1Work-study, Loans, and TEACH Program An important question NOT on the Worksheet: If the student is interested in work-study (student employment), student loans, or the TEACH Program, check all appropriate boxes • Indicating interest does not obligate the student to either work or borrow, nor will it cause the student to lose grants and scholarships • Not checking work-study and/or loans may restrict some options for limited work-study or loan funds

  32. Section 1 School Selection An important question NOT on the Worksheet: FAFSA on the Web allows the student to list up to 10 colleges/universities that will receive his/her student and parent information The student should list the schools he/she is most likely to attend, and then list others to which the student is applying for admission

  33. Section 1 School Selection An important question NOT on the Worksheet: • While in the School Selection Section, the student will be asked to enter the federal school code for each school to which he/she wants information sent • If the student does not know the federal school code, enter the state in which the college/university is located and search for the federal school code by the college/university name

  34. Section 1School Selection • An important question NOT on the Worksheet: • The student will be asked to select the housing plan that best describes the type of housing the student expects to have while attending each listed school • The choices for housing are: • On Campus • With Parent • Off Campus • The student’s choice of housing may affect the amount of financial aid for which he/she is eligible. It is usually more expensive to live on or off campus than with parents or relatives • Remember, selecting a housing option is not an application for On Campus housing. Check with the colleges/universities for housing information

  35. Section 1School Information • List those schools with the earliest financial aid deadlines • If the student is applying to more than ten schools, wait for the processed Student Aid Report (SAR) and add additional schools via the Web or by phone using the student PIN Strategies for Listing Colleges

  36. Section 2(page 2)STUDENT DEPENDENCY STATUS

  37. Section 2 Determination of Student Dependency Status • If the student checks none of the boxes about Dependency Status, the student will be asked to go to Section 3. For FAFSA filing purposes, the student is considered a dependent student and will be required to provide parental information • If the student is able to check any one of the questions in this section, he or she should skip Section 3 and go to Section 4. The student is considered an independent student for FAFSA filing purposes and is NOT required to provide parental information

  38. Section 2 Determination of Student Dependency Status

  39. Section 3(page 3)PARENTINFORMATION

  40. Section 3 Who is Considered a Parent See Page 3 of FAFSA on the Web Worksheet about who is considered a parent Biological or adoptive parent(s) Stepparent (regardless of any prenuptial agreement) In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months

  41. Section 3 Who is Not a Parent 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

  42. Section 3Parent Information , $ 2 (no cents) 1 3 5 6 • If the answer to any question is zero or the question does not apply, enter 0: • Report whole dollar figures: • Recommendation: If the parents have not filed their 2009 federal tax return, use 2009 W-2 forms and/or other 2009 employment records -such as final pay check stubs - to estimate total taxable income • Remember, rather than miss any filing deadline, use estimated 2009 income information $ , 0

  43. Section 3Parent Information • If the student is providing father’s/stepfather’s and/or mother’s/stepmother’s information, the student will need those parents’: • Social Security Numbers • Names • Dates of Birth

  44. Section 3Dislocated Worker • The student will be asked to check if the father/stepfather and/or mother/stepmother is a dislocated worker • A person may be considered a dislocated worker if he/she: • is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation • has been laid off or received a lay-off notice from a job • was self-employed but is now unemployed due to economic conditions or natural disaster • is a displaced homemaker

  45. Section 3Parents’ Tax Return Filing Status for 2009 • The student will be asked to provide information about parent tax filing status for 2009: • If his/her parents have completed their 2009 federal income tax return, mark the first box • If they have not as yet filed, but plan to file a 2009 federal income tax return, mark the second box • If they have not, nor will not, file a 2009 federal income tax return and are not required to do so, mark the third box

  46. Section 3Parent 2009 Adjusted Gross Income Reminder:If the answer is zero or the question does not apply, enter 0 $$$$$$ • If the student’s parents have not yet filed their 2009 federal tax return, use estimated information for this question • If the student’s parents have completed their 2009 federal tax return, use actual 2009 tax return information to complete this item.

  47. Section 3Money Earned from Work by Parent(s) in 2009 Use W-2 forms and other records to list all income earned from work in 2009 (including business income earned from self-employment) for father/stepfather and/or mother/stepmother $$$,$$$ $$$,$$$

  48. Section 3Parents’ Household 2008 or 2009 Benefits Received Indicate if the student, his/her parents, or anyone in the parents’ household received benefits in 2008 or 2009 from any of the federal programs listed: Supplemental Security Income (SSI) Food Stamps Free or Reduced Price School Lunch TANF WIC

  49. Section 32009 Additional Financial Information The student will be asked to report if his or her parents received or paid any of the following items in 2009 (check all that apply) - Hope and Lifetime Learning tax credits - Child support paid - Taxable earnings from work-study, assistantships, or fellowships - Grants and scholarship aid reported to the IRS - Combat or special combat pay - Cooperative education program earnings

  50. Section 32009 Parent Untaxed Income The student will be asked to report if his or her parents had any untaxed income in 2009. Check all that apply. Some examples of the most common items are: - Payments to tax-deferred pensions and savings plans such as 401Ks, IRA deductions, and payments to self-employed SEP and Keoghs - Tax exempt interest income - Child support received - Housing, food and other living allowances paid to members of the military and clergy

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