Applying for Financial Aid 2009-2010. Sponsored by: Presented by: 2.

Applying for Financial Aid 2009-2010

Sponsored by:

Presented by:

2

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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) and the Cal Grant GPA Verification Form

• Answers to your individual questions

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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

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• Federal government

• State government

• Colleges and universities

• Private agencies, companies, foundations, and your parents’ employers

Sources of Financial Aid

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Cal Grants• Cal Grant A Entitlement Awards – for high school

seniors and recent high school grads with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, who demonstrate financial need

• Cal Grant B Entitlement Awards – for high school seniors and recent high school grads with a GPA of at least 2.0, who come from disadvantaged or low income families, whose family income and assets are below the state ceilings, and who demonstrate financial need

• Cal Grant C Awards - for students from low income families pursuing vocational programs of study

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Eligibility for Cal Grants• To be eligible for a Cal Grant, the

student must also:

• be a U.S. citizen or eligible noncitizen

• be a California resident

• attend an accredited California college or university in 2009-2010 at least half-time

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• parents have been legal residents of California for one year immediately prior to March 2, 2009, or

• student has lived in California with other legal California residents, other than parents, for two years immediately prior to March 2, 2009, or

• parents in the Armed Forces are stationed in California on active duty at the time the student enrolls in college, or parents’ military home of record is California.

Residency and Cal Grant Eligibility for 2009-2010Residency and Cal Grant Eligibility for 2009-2010• If unmarried and under 18 years of age, the student will be considered a legal resident of California if:

• If married or 18 years of age or older, the student establishes his/her own residence status. The student must be a legal resident of California for one year prior to March 2, 2009.

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2009-2010 Cal Grant Application Requirements

Check with your high school or college counselor for more details on how to file the Cal Grant GPA

Verification Form

• By March 2, 2009, complete and submit:

Free Application for Federal Student Aid

(FAFSA)

Cal Grant GPA

Verification Form

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California Chafee GrantCalifornia Chafee Grant• The California Chafee Grant program provides up to $5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S based on available funding

• To be eligible, foster youth must have been in California foster care on their 16th birthday and not have reached their 22nd birthday before July 1, 2009

• To apply, the foster youth must complete:• 2009-2010 FAFSA• California Chafee Grant Program

Application

To learn more about the Chafee Grant, go to:

www.chafee.csac.ca.gov

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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

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Need-Based Grants• Community College Board of

Governors’ (BOG) Fee Waiver• Waives the California Community

Colleges’ enrollment fee for financially needy California residents

• To learn more about this BOG Fee Waiver, go to www.icanaffordcollege.com

• CSU State University Grant (SUG) – amounts vary

• UC Grant – amounts vary

• Independent College Grants - amounts vary

Types of Applications• FAFSA

• Cal Grant GPA Verification Form

• Other applications or forms as required by the college such as

• 2008 federal tax returns (along with schedules and W-2s) or other income documentation

• CSS Financial Aid PROFILE • Institutional Scholarship and/or

Financial Aid Application

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FAFSA Information & Tips• File early, but no later than

March 2, 2009

• Use estimated 2008 income information if taxes are not complete at time of FAFSA submission

• Student and at least one parent whose information is reported must complete and sign the FAFSA

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Federal PIN • PIN (Personal Identification Number) serves

as the electronic signature on ED documents

• Both student and at least one parent need PINs 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:

www.pin.ed.gov

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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

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The FOTW WorksheetA Five Section FormThe FOTW WorksheetA Five Section Form

Section 1 – is about the studentSection 2 – determines student

dependency statusSection 3 – collects parental

information for dependent studentsSection 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

Section 1(page 2)

STUDENT INFORMATION

Section 1(page 2)

STUDENT INFORMATION

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Section 1Your Last Name

• 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

Jones

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Section 1 Your Social Security Number

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.

1 2 3 4 5 6 7 8 9

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• 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

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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

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Section 1 Citizenship Status

• if you are applying to any California 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

For more information and a list of

scholarships, go towww.latinocollegedollars.org

NOTE: if you are undocumented

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Section 1 Your State of Legal Residence

• 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

CA

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Section 1 Selective 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:

www.sss.gov

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• 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 1 Federal Student Aid Question

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• 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 1 Drug Conviction Question

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Section 1 Parents’ Educational Level

Indicate highest level of schooling completed by 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

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Indicate your most immediate degree or certificate objective for 2009-2010

Section 1 Degree Objective

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Section 1 Your 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”

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Section 1 Work-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

Section 2(page 3)

STUDENT DEPENDENCY STATUS

Section 2(page 3)

STUDENT DEPENDENCY STATUS

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Section 2Determination of Student Dependency Status

34


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• 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

Section 3(page 4)

PARENTALINFORMATION

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Section 3Parental 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)

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Section 3 Parental Information

• Do not provide information on:– Foster parents

• If the student is in foster care, he/she is automatically considered an independent student

– Legal guardians or 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

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Section 3Parental Information

,$ 0 • If the answer to any question is zero or

the question does not apply, enter 0:

• Report whole dollar figures:

• Recommendation: If your parents have not filed their 2008 federal tax return, use W-2 forms and/or other employment records to estimate total income

1 2 $ 3 5 6 (no cents),

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Section 3 Parents’ Marital Status as of Today

Month and Year Your Parents were Married, Separated, Divorced, or Widowed

M M Y Y Y Y

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Section 3 Parent E-Mail Address

• Fill in your parents’ e-mail address that will be valid at least until you start college

• If you provide your parents’ email address, the FAFSA processor will let them know your FAFSA has been processed

[email protected]

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Section 3Father’s and Mother’s SSN, Last Name, and Dates of Birth

NOTE: Provide this information for yourparent(s) who complete Section 3 of the worksheet

2 3 4 5 6 7 8 9 0

JONES

0 5 0 3 1 9 5 9

0 0 0 0 0 0 0 0 0

PARKER

0 7 1 9 1 9 6 0

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Section 3 Parents’ State of Legal Residence

• Indicate the two-digit state code for your parents’ permanent address

• Leave question 74 blank if at least one of your parents whose information is used on this form began living in the state before January 1, 2004

CA

M M Y Y Y Y

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Section 3 Parents’ Tax Return Filing Status for 2008

• Indicate your parents’ current tax filing status for 2008• Which tax return did or will your parents file for 2008?• Even if your parent(s) did not file a 1040A or 1040EZ,

read the instructions to see if they would have been eligible to do so

• The FOTW Web site will ask if your parents have completed their 2008 tax return

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Section 3 Parents’ Household 2008 Federal Benefits

Indicate if you, your parents, or anyone in your parents’ household received benefits in 2008 from any of the federal programs listed

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Section 3 Parent Dislocated Worker

A person may be considered a dislocated worker if he or 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

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Section 3 Parent 2008 Adjusted Gross Income

Reminder: If the answer is zero or the question does not apply, enter 0

• If your parents have not yet filed their 2008 federal tax return information, it is fine to estimate information for these questions

• If your parents have completed their 2008 federal tax return, use 2008 tax return information to complete this item. Pay attention to specific line-items on 2008 federal tax return, if completed

45,250

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Section 3 Money Earned from Work by Parent(s) in 2008

Use W-2 forms and other records to list all income in 2008 earned from work (including income earned from self-employment)

45,250

40,500

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Section 3 Parents’ Income Tax Paid in 2008

• What was the amount your parents paid in income tax for 2008?

– Use U.S. Income tax paid (or to be paid)

• not the amount withheld from your parents’ paychecks

2,130

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Section 3 Parents’ 2008 Tax Exemptions

• Enter your parents’ exemptions for 2008 Exemptions can be found on their IRS tax return• Be sure to include all persons being claimed

on your parents’ 2008 federal tax return, regardless of whether they are included in your parents’ household size question

05

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Section 3 Parents’ Household Information for 2009-10

• Include in your parents’ household:• yourself• your parent(s)• your parents’ other dependent children, if

your parents provide more than half their support or the children could answer “no” to every question in Section 2, regardless of where they live

• other people, if they now live with your parents and will continue to do so from 7/1/09 through 6/30/10, and if your parents provide more than half their support now, and will continue to provide support from 7/1/09 through 6/30/10

05

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Section 3 Family Members Attending College in 2009-10

NOTE: Some financial aid offices will require proof that other family members are attending college

• Always include yourself even if you will attend college less than half-time in 2009-2010

• Include other household members only if they will attend at least half time in 2009-2010 in a program that leads to a college degree or certificate

• Never include your parents

2

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Section 3 2008 Additional Financial Information

12,600

10,200

2,500 Enter the total from this Additional Financial Information Sheet on Question 94 on page 5, Section 3

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Section 3 2008 Untaxed Income

1,700

6,200

500

Enter the total from this 2008 Untaxed Income Sheet on Question 95 on page 5, Section 3

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Section 3 Parent Asset Information

NOTE: Some financial aid offices may request supporting documentation for the answers to these questions

• List the net value of your parents’ assets as of the day you complete the FAFSA

• If net worth is one million dollars or more, enter

• If net worth is zero, enter 0

9 9 $ 9 9 9 , 9

$ 0 ,

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Section 3 Parent Cash, Savings, and Checking

Report the current balance of your parents’ cash, savings, and checking accounts as of the day you complete the FAFSA

2,155

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Section 3 Parent Investments

• bonds and other securities • Coverdell IRAs• 529 plans owned by

parents• installment and land sale

contracts• commodities, etc.

• Net Worth means current value minus debt

• Investments include:• real estate (other than parents’

home)• trust funds• UGMA and UTMA accounts• money market and mutual funds• certificates of deposit• stocks and stock options

7,900

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Section 3 Parent Business and Investment Farms

NOTE: DO NOT include the home you live in, the value of life insurance and parent retirement plans (pension funds, annuities, non-education IRAs, Keogh plans, etc), or the value of a family owned and controlled small business with 100 or fewer full-time or full-time equivalent employees

• Business/Investment Farm includes:

– market value of land, buildings, machinery, equipment, and inventory. Debt means only those debts for which the business was used as collateral

23,600

Section 4(page 6)

STUDENT FINANCES

Section 4(page 6)

STUDENT FINANCES

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Section 4Student Finances

• Questions (34 – 40) are identical to the parent financial questions we covered in Section 3

• In these questions in Section 4:

• Report your 2008 income

• If you are single, ignore references to “spouse”

• If you are married, report spouse’s income and assets

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Section 4Student Veterans’ Education Benefits

For more information on Veterans’ Education Benefits, contact the VA at:

(800) 827-1000or

www.va.gov

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Section 4 Student Finances (Independent Students)

Answer questions (96 – 103) in Section 4 only if you answered “yes” to at least one question in Section 2 – Student Dependency Status

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Section 4Student Finances (Independent Students)

Include in your household:• you (and your spouse if married)• your children, if you will provide more than half their

support• other people, if they now live with

you and you provide more than half their support, and will continue to provide that level of support from 7/1/09 through 6/30/10

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Section 4 Student Finances (Independent Students)

• Count yourself even if you will attend college less than half-time in 2009-2010

• Include others only if they will attend at least half-time in 2009-2010 in a program that leads to a college degree or certificate

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Section 4 Household Federal Benefits (Independent Students)

Indicate if you, your spouse, or anyone in your household received benefits in 2008 from any of the federal programs listed

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Section 4 Dislocated Worker (Independent Students)

A person may be considered a dislocated worker if he or 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

Section 5(middle of page 7)

COLLEGES TO RECEIVE INFORMATION

Section 5(middle of page 7)

COLLEGES TO RECEIVE INFORMATION

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001170 001328 023456

Section 5School Information

034567

First, list the California school you are most likely to attend, and then list others to which you are applying for

admission

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• List up to ten schools to which you are applying

• For faster and more accurate processing, write in both the Title IV school code and the school name

• Check with each college’s financial aid office, your high school counselor, or the U.S. Department of Education’s website (www.fafsa.ed.gov) for a listing of federal school codes of the colleges to which you are applying

• Select the housing plan that best describes the type of housing you expect to have while attending each listed school


• List at least one California college or university first

• In Question 97, list those schools with the earliest financial aid deadlines, regardless of whether they are in-state or out-of-state

• 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

Strategies for Listing Colleges

NOTE: Each UC and CSU campus must be listed separately

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TYPES OF FAFSAsTYPES OF FAFSAs

• FAFSA on the Web

• Paper FAFSA

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FAFSA ON THE WEB• Internet application used by

students and parents to complete electronic FAFSA at

www.fafsa.ed.gov

• Processed more quickly than paper version

• Sophisticated on-line edits so that errors are less likely to be made

• Student and at least one custodial parent should get a federal PIN at

www.pin.ed.gov

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Application Filing Tips FAFSA on The Web• Gather necessary documents ahead of time

• Complete a FAFSA on the Web Worksheet available at www.fafsa.ed.gov

• Allow ample time to complete form for submission by deadline

• Check the FAFSA for accuracy prior to submission

• Save all work periodically

• Sign the application using student and at least one parent’s PIN

• Print out a copy of the FAFSA before submitting data

• Keep a copy of the Submission Confirmation Page

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• File early and meet all deadlines

• Check the FAFSA for completeness and accuracy

• Sign and date FAFSA

• Make a copy of the FAFSA before mailing

• Mail the FAFSA• Do not write any comments on the FAFSA• Do not include letters, tax forms, or

worksheets• Use regular mail (not Registered or Certified)

• Obtain a U.S. Postal Service Certificate of Mailing (cost is only $1.05)

Application Filing Tips Paper FAFSA

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Student Aid Report (SAR)• Regardless of whether the student uses

FAFSA on the Web or submits a paper FAFSA, a SAR will be sent to the student – An electronic SAR will be sent if

student provides an email address– A paper SAR will be mailed if no

student e-mail address is provided • An electronic copy of the data will be

sent to each college or university listed by the student in Section 5

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What Happens Next? Students and the colleges the student listed receive Student Aid

Report (SAR) from federal processor

Students who complete FAFSA and Cal Grant GPA Verification Form receive California Aid Report (CAR)

Students and families review SAR and CAR for important

information and accuracy of data

Colleges match admission records with financial aid applications

and determine aid eligibility

Colleges mail notices of financial aid eligibility to admitted

students who have completed all required financial aid forms

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Special Circumstances• Contact the Financial Aid Office if there is:

– Loss or reduction in parent or student income or assets

– Death or serious illness

– Natural disasters affecting parent income or assets

– Unusual medical or dental expenses not covered by insurance

– Reduction in child support, social security benefits or other untaxed benefit

– Financial responsibility for elderly grandparents

– Any other unusual circumstances that affect a family’s ability to contribute to higher education

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Summary of the Financial Aid Process• Submit all required forms, including the FAFSA, by

each college’s published deadlines (but no later than March 2)

• By March 2, submit a Cal Grant GPA Verification Form

• Keep a copy of all forms submitted• Review the electronic Student Aid Report (SAR)

Acknowledgement or the paper SAR sent to the student

• Review the California Aid Report (CAR)• Watch for financial aid award notifications from

colleges to which the student has been admitted• Be sure to apply for financial aid this year and every

year as soon as possible after January 1 to receive the best financial aid award possible

• ASK QUESTIONS!

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Questions and Answers

Applying for Financial Aid 2009-2010. Sponsored by: Presented by: 2.

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Transcript of Applying for Financial Aid 2009-2010. Sponsored by: Presented by: 2.