Financial Aid

Edinburg High SchoolTHE LEGACY OF EXCELLENCE

CONTINUES.

Today I hope to answer the following…•What is the FAFSA?•What kinds of Financial Aid are available?•What do I need to complete the FAFSA?•When and where can I complete the

FAFSA?•How do I know if my son/daughter

qualifies for financial aid?

SCAM!!!

FAFSA Free Application For Federal Student Aid

www.fafsa.ed.gov

• Free online government application can be used for universities and colleges nation wide

• Used to apply for Grants, Work Study and Loans

• Funds are awarded to HS graduates upon registration of courses

• Seniors 2014 will complete FAFSA on Thursday, February 13th, 2014

Type of Financial Aid available

• Pell Grant• Federal Supplemental Educational Opportunity Grant

(FSEOG)• Federal Work-Study

Federal Aid

• Towards Excellence, Access and Success Grant (Texas Grant)

• Texas Educational Opportunity Grant (TEOG)• Texas Public Education Grant (TPEG)• Top 10% Scholarship Program• *Students who are non-residents are eligible for state

aid

State Aid

• Direct Stafford Loans• Direct Parent Plus Loans

Federal & Institutional Loans

• Top 10% Scholarship• Institutional Scholarships

Scholarships

Step 1: Complete the FAFSA• We will be completing the first part of the FAFSA starting in January.• The rest of the FAFSA will be completed on FAFSA Night 2014 (February 13,

2014) Income Tax forms and W-2s will be required.

• Step 2: Review your Student Aid Report• You will receive a SAR in your e-mail approximately 3-4 days

after submitting your FAFSA.• Review and make any necessary corrections on your SAR or

online at www.fafsa.gov.

Step 3: Request a tax transcript • If you were not able to link your FAFSA to the IRS using the IRS

Data Retrieval Tool, you will need to request a transcript online at www.irs.gov

Step 3: Verification Form or Award Letter• Universities may require a verification form or additional

documentation. Requirements differ between universities. Otherwise, the university will mail an Award letter that will include all grants, loans and/or scholarships.

FAFSA Process

Step 1: Complete the FAFSA Documents Required 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 FormsChild Support paid or receivedSocial Security/Alien Registration NumbersDates of Birth for parentsMarital Status Dates (Divorced, Widowed, etc.) Balance of cash, checking, and savings

accountsOther financial documents

www.fafsa.ed.gov

Your Text Here

IRS Data Retrieval Tool• The IRS Data Retrieval Tool allows students and parents to

access the IRS tax return information needed to complete the Free Application for Federal Student Aid (FAFSA), and transfer the data directly into their FAFSA from the IRS Web site.

• In most cases, the IRS DRT is available within 2-3 weeks after the return has been accepted by the IRS.

• You may not be eligible to use the DRT tool if: The student/parent is married, and either the student/parent or his/her spouse filed as Married Filing Separately, the student/parent is married, and either the student/parent or his/her spouse filed as Head of Household, the student/parent filed an amended tax return, the student/parent filed a Puerto Rican or foreign tax return.

• If you are not eligible to use the IRS DRT, you will need to request a tax transcript online at www.irs.gov or via mail using the paper request form found online also at www.irs.gov

Complete and mail form to IRS

2 weeks after filing or at our FAFSA Night

on February 13th,

2014

Janet Amaro

Sample Request for T

ax

Return Transcrip

t

Sample Tax Return

Transcrip

t

Order your Tax

Return Transcript

online at

www.irs.gov

Or print form

4506-T under

“Forms and

Pubs”

If you do not file an Income Tax, you may

prepare a notarized

statement of earnings.

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.

PIN Numbers• Apply for a PIN Number by

visiting www.pin.ed.gov or when completing the FAFSA• PIN Numbers act as an electronic

signature for your FAFSA application• Student and a parent will need to

apply for pin.

• PIN Numbers never expire

How do I know how much Financial Aid my student qualifies for?• EFC Estimated Family Contribution is calculated

by all the information provided on the FAFSA.

Cost of attendance $14,000-EFC 3,000Financial Need $11,000

The closer the EFC is to zero, the more FREE money the student will qualify for. The farther away the EFC is from zero, the less “free” money he/she will receive, therefore, going into the loan zone.

After you apply…Step 2: Request an tax transcript online at

www.irs.gov and mail it to the university’s financial aid office.

Step 3: Review your Student Aid Report SAR

Step 4: Submit Verification Worksheets, if requested by university. Follow up ONE week later. ▫If no Verification Worksheet is required, an award

letter will be sent to you. Review this letter and follow up with your university to accept or deny award.

Estimated Annual CostInstitution Tuition & Fees *Total Cost

South Texas Community College $2,320 $10,191

Texas State Technical Institute, Harlingen $3,173 $14,536

University of Texas-Pan American $6,124 $17,641University of Texas-San Antonio $9,004 $21,096

University of Texas, Austin $9,794 $20,072Texas A&M University $8,480 $19,950Texas A&M-Kingsville $6,940 $17,708SMU $33,170 $45,570RICE $30,486 $44,186

-Information courtesy of www.collegeforalltexans.com

*includes books, room, board, transportation, personal expenses

Senate Bill 1528Legislative Bill that allows students to be eligible for

College Admissions and Financial Aid (State Funds) only and if the student:

1. Has resided in Texas three (3) consecutive years leading up to graduation,

2. Will reside in Texas for 12 consecutive months prior to enrollment,

3. Will graduate from a Public Texas High School or receive their GED

4. And provides a notarized statement that the student meets the above criteria and intends to apply for Permanent Residency at the earliest

opportunity.

CSS Profile

•Additional Financial Aid Document used by selective schools to award students

•Application online at http://profileonline.collegeboard.com

•Recommended deadline: February 1 unless otherwise stated by university

Important Final Thoughts…• Complete your Income Tax Return as soon as

possible so that your son/daughter can complete the FAFSA on February 13, 2014.

• If filing early is not available to your family, indicate that you “will file” on the FAFSA and submit it on FAFSA Night. Make corrections to FAFSA your Income Tax Return is complete.

• Apply for a pin number ahead of time so there are no surprises on FAFSA Night.

• Undocumented students may also complete the FAFSA on paper, but will only be eligible for State Funds.

• Parent’s immigration status does not affect student eligibility.

Important Websites for Financial Aid and Scholarships

•www.fafsa.ed.gov•www.studentaid.gov•www.collegeboard.org•www.collegeforalltexans.com •www.collegenet.net •www.scholarships.com•www.mycollegeoptions.org •www.applytexas.org

FAFSA EventsFAFSA Night

Thursday, February 13th, 20146:00-8:00 p.m.

EHS 200’s Hallway

FAFSA FridaysFridays in February and March

8:00-12:00 p.m.Financial Aid Office

*By appointment

Contact the UniversitiesJudy Anzaldua

South Texas Collegejanzaldua@southtexascollege.edu

956.872.2108

Mayra MartinezUniversity of Texas Pan-American

mmartinezz53@utpa.edu956.665.2925

Janet AmaroFinancial Aid Officer

j.amaro@ecisd.us200’s Hallway