Financial Aid Financial Aid WorkshopWorkshop

Financial Aid NightFinancial Aid Night

The Theatre Arts Production The Theatre Arts Production Company SchoolCompany School

Presenter: James GiordanoPresenter: James Giordano

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Workshop HighlightsWorkshop Highlights

Types of Federal AidTypes of Federal Aid

Packaging of AidPackaging of Aid

Application ProcessApplication Process

CSS ProfileCSS Profile

ScamsScams

TAPTAP

EstimatorsEstimators

Step by step FAFSAStep by step FAFSA

After the FAFSAAfter the FAFSA

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What is Financial What is Financial Aid?Aid?

Gift AidGift Aid Grants and Scholarships (free Grants and Scholarships (free

money)money)

Self-Help AidSelf-Help Aid Work-Study (job opportunity to earn Work-Study (job opportunity to earn

money and relevant experience)money and relevant experience) Loans (money borrowed that must Loans (money borrowed that must

be repaid)be repaid)

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Sources of Sources of Financial AidFinancial Aid

Federal and State Grants.Federal and State Grants.

TAPTAP

Federal Work-StudyFederal Work-Study

Federal LoansFederal Loans

Institutional AidInstitutional Aid

Private / Other Government AidPrivate / Other Government Aid

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Pell GrantPell Grant: Does not have to be repaid. Available : Does not have to be repaid. Available almost exclusively to undergraduates; all eligible almost exclusively to undergraduates; all eligible students will receive the Federal Pell Grant amounts they students will receive the Federal Pell Grant amounts they qualify for ranging from $400 - $5,500 Max. qualify for ranging from $400 - $5,500 Max.

Federal Supplemental Educational OpportunityFederal Supplemental Educational OpportunityGrant (FSEOG)Grant (FSEOG):: Does not have to be repaid. For Does not have to be repaid. For undergraduates with exceptional financial need; priority undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on is given to Federal Pell Grant recipients; funds depend on availability at school $4,000 Maxavailability at school $4,000 Max

Federal Work-StudyFederal Work-Study: : Money is earned while attending Money is earned while attending school; does not have to be repaid. For undergraduate school; does not have to be repaid. For undergraduate and graduate students; jobs can be on campus or off and graduate students; jobs can be on campus or off campus; students are paid at least minimum wage. No campus; students are paid at least minimum wage. No annual maximumannual maximum

Federal Grants

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An Academic Competitiveness GrantAn Academic Competitiveness Grant will provide will provide up to $750 for the first year of undergraduate up to $750 for the first year of undergraduate study and up to $1,300 for the second year of study and up to $1,300 for the second year of undergraduate study to full-time students who are undergraduate study to full-time students who are eligible for a Federal Pell Grant and who had eligible for a Federal Pell Grant and who had successfully completed a rigorous high school successfully completed a rigorous high school program, as determined by the state or local program, as determined by the state or local education agency and recognized by the education agency and recognized by the Secretary of Education. Second year students Secretary of Education. Second year students must maintain a cumulative grade point average must maintain a cumulative grade point average (GPA) of at least 3.0. (GPA) of at least 3.0.

Must have received a regents diploma with Must have received a regents diploma with ADVANCED designation.ADVANCED designation.

Must be eligible for Pell GrantMust be eligible for Pell Grant

Academic Competitiveness Academic Competitiveness Grant (not funded yet)Grant (not funded yet)

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TEACH GrantTEACH Grant Teacher Education Assistance for College and Teacher Education Assistance for College and

Higher EducationHigher Education (TEACH) Grant Program provides (TEACH) Grant Program provides grants of up to $4,000 per year to students who grants of up to $4,000 per year to students who intend to teach in a public or private elementary or intend to teach in a public or private elementary or secondary school that serves students from low-secondary school that serves students from low-income families. income families.

In exchange for receiving a TEACH Grant, you must In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary field in a public or private elementary or secondary school that serves low-income students. Visit school that serves low-income students. Visit https://teach-ats.ed.gov/ats/index.actionhttps://teach-ats.ed.gov/ats/index.action. .

If you fail to complete this service obligation, If you fail to complete this service obligation, all amounts of TEACH Grants that you all amounts of TEACH Grants that you received will be converted to a Federal Direct received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of repay this loan to the U.S. Department of Education. You will be charged interest from Education. You will be charged interest from the date the grant(s) was disbursed. the date the grant(s) was disbursed.

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High Need FieldsHigh Need Fields

High-Need FieldHigh-Need Field High-need fields are the specific areas identified below:High-need fields are the specific areas identified below: Bilingual Education and English Language Acquisition. Bilingual Education and English Language Acquisition. Foreign Language. Foreign Language. Mathematics. Mathematics. Reading Specialist. Reading Specialist. Science. Science. Special Education. Special Education. Other identified teacher shortage areas as of the time Other identified teacher shortage areas as of the time

you begin teaching in that field. These are teacher you begin teaching in that field. These are teacher subject shortage areas (not geographic areas) that are subject shortage areas (not geographic areas) that are listed in the Department of Educations Annual Teacher listed in the Department of Educations Annual Teacher Shortage Area Nationwide Listing. To access the listing, Shortage Area Nationwide Listing. To access the listing, please go to please go to http://http://www.ed.gov/about/offices/list/ope/pol/tsa.docwww.ed.gov/about/offices/list/ope/pol/tsa.doc. .

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The National Science & Mathematics The National Science & Mathematics Access to Retain Talent Grant Access to Retain Talent Grant

(National SMART Grant)(National SMART Grant)(Not Funded Yet)(Not Funded Yet)

The National Science and Mathematics Access to The National Science and Mathematics Access to Retain Talent Grant, also known as the National Retain Talent Grant, also known as the National Smart Grant is available during the third and Smart Grant is available during the third and fourth years of undergraduate study (or fifth year fourth years of undergraduate study (or fifth year of a five-year program) to at least half-time of a five-year program) to at least half-time students who are eligible for the Federal Pell Grant students who are eligible for the Federal Pell Grant and who are majoring in physical, life, or and who are majoring in physical, life, or computer sciences, mathematics, technology, computer sciences, mathematics, technology, engineering or a critical foreign language; or non-engineering or a critical foreign language; or non-major single liberal arts programs. major single liberal arts programs.

A National SMART Grant will provide up to $4,000 A National SMART Grant will provide up to $4,000 for each of the third and fourth years of for each of the third and fourth years of undergraduate study. undergraduate study.

Must be eligible for Pell GrantMust be eligible for Pell Grant

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NYS Math and Science Teaching NYS Math and Science Teaching Incentive ScholarshipsIncentive Scholarships

New York State (NYS) Math & Science Teaching New York State (NYS) Math & Science Teaching Incentive Scholarships are offered to encourage Incentive Scholarships are offered to encourage students to pursue careers as secondary math and students to pursue careers as secondary math and science teachers (grades 7-12). This program science teachers (grades 7-12). This program provides awards to students attending school at the provides awards to students attending school at the undergraduate and/or graduate degree level in undergraduate and/or graduate degree level in exchange for five years of full-time employment as exchange for five years of full-time employment as secondary education math or science teachers.secondary education math or science teachers.

Recipients shall receive an annual award for full-Recipients shall receive an annual award for full-time study equal to the annual tuition charged to time study equal to the annual tuition charged to NYS resident students attending an undergraduate NYS resident students attending an undergraduate program at the State University of New York, or program at the State University of New York, or actual tuition charged, whichever is less. The actual tuition charged, whichever is less. The maximum annual award for the 20010-11 academic maximum annual award for the 20010-11 academic year is expected to be $4,995year is expected to be $4,995

Visit Visit http://www.hesc.com/content.nsf/SFC/NYS_Math_anhttp://www.hesc.com/content.nsf/SFC/NYS_Math_and_Science_Teaching_Incentive_Scholarshipsd_Science_Teaching_Incentive_Scholarships to apply in January. to apply in January.

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Direct Federal Stafford Direct Federal Stafford LoansLoans

Direct Subsidized Stafford LoansDirect Subsidized Stafford Loans: : Interest Interest does not accrue until repayment begins.does not accrue until repayment begins.

Direct Unsubsidized Stafford LoansDirect Unsubsidized Stafford Loans: : Interest Interest accrues (accumulates) on an unsubsidized loan accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the from the time it’s first paid out. You can pay the interest while you are in school and during grace interest while you are in school and during grace periods and deferment or forbearance periods, periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized or you can allow it to accrue and be capitalized (that is, added to the principal amount of your (that is, added to the principal amount of your loan). If you choose not to pay the interest as it loan). If you choose not to pay the interest as it accrues, this will increase the total amount you accrues, this will increase the total amount you have to repay because you will be charged have to repay because you will be charged interest on a higher principal amount. interest on a higher principal amount.

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Direct Federal Stafford Direct Federal Stafford LoansLoans First Year First Year $5,500—No more than $3,500 of this $5,500—No more than $3,500 of this

amount may be in subsidized loans.amount may be in subsidized loans. Second Year Second Year $6,500—No more than $4,500 of this $6,500—No more than $4,500 of this

amount may be in subsidized loans.amount may be in subsidized loans. Third and Beyond (each year)Third and Beyond (each year)$7,500—No more $7,500—No more

than $5,500 of this amount may be in subsidized than $5,500 of this amount may be in subsidized loans.loans.

Interest on Direct Subsidized for Undergraduate Interest on Direct Subsidized for Undergraduate students - students - If the first disbursement of your subsidized If the first disbursement of your subsidized loan is between July 1, 2010 and June 30, 2011, the loan is between July 1, 2010 and June 30, 2011, the interest rate on your loan is fixed at 4.5%. The interest interest rate on your loan is fixed at 4.5%. The interest rate on subsidized loans first disbursed to rate on subsidized loans first disbursed to undergraduate students between July 1, 2011 and undergraduate students between July 1, 2011 and June 30, 2012 will be fixed at 3.4%. June 30, 2012 will be fixed at 3.4%.

Interest on Direct Unsubsidized for Interest on Direct Unsubsidized for Undergraduate students - Undergraduate students - The interest rate is fixed The interest rate is fixed at 6.8% for all borrowers (undergraduate and at 6.8% for all borrowers (undergraduate and graduate). graduate).

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Direct PLUS Loan for Direct PLUS Loan for ParentsParents

The annual limit on a PLUS Loan is The annual limit on a PLUS Loan is equal to the student's cost of equal to the student's cost of attendance minus any other attendance minus any other financial aid the student receives.financial aid the student receives.

For example, if the cost of For example, if the cost of attendance is $6,000 and the attendance is $6,000 and the student receives $4,000 in other student receives $4,000 in other financial aid, the student's parent financial aid, the student's parent can request up to $2,000.can request up to $2,000.

The interest rate is fixed at 7.9%. The interest rate is fixed at 7.9%. Interest is charged from the date of Interest is charged from the date of the first disbursement until the loan the first disbursement until the loan is paid in full.is paid in full.

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Loan FeesLoan Fees

There is a loan fee on all Direct There is a loan fee on all Direct Subsidized and Unsubsidized Subsidized and Unsubsidized Loans. The loan fee is a Loans. The loan fee is a percentage of the amount of each percentage of the amount of each loan you receive. For loans first loan you receive. For loans first disbursed between July 1, 2010 disbursed between July 1, 2010 and June 30, 2011 the loan fee is and June 30, 2011 the loan fee is 1.0%. 1.0%.

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The Packaging of The Packaging of Financial AidFinancial Aid

Almost all financial aid is awarded Almost all financial aid is awarded in the form of a package. in the form of a package. Financial aid packages are made Financial aid packages are made up of up of grants, scholarships, loans, grants, scholarships, loans, and/or work study. The student and/or work study. The student may or may not receive this with may or may not receive this with the acceptance letter.the acceptance letter.

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Application ProcessApplication Processfor most schools.for most schools.

Free Application for Federal Student Free Application for Federal Student Aid (FAFSA)Aid (FAFSA)

Required for federal, state, and Required for federal, state, and

institutional aidinstitutional aid

Deadlines vary from school to Deadlines vary from school to

school school

FAFSA on the WEB (FAFSA on the WEB (

www.fafsa.ed.govwww.fafsa.ed.gov))

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Application Process Application Process for for SOME SCHOOLSSOME SCHOOLS

Institutional Aid Application (not very Institutional Aid Application (not very common)common)

CSS/Financial Aid PROFILE CSS/Financial Aid PROFILE 2012-20132012-2013 Copies of student’s and parents’ 2011 Copies of student’s and parents’ 2011

Federal tax returns for verification Federal tax returns for verification purposespurposes

IDOC -College Board collects families' IDOC -College Board collects families' federal tax returns and other documents federal tax returns and other documents on behalf of participating colleges and on behalf of participating colleges and programs. The College Board will notify programs. The College Board will notify students selected by participating students selected by participating institutions when they must submit the institutions when they must submit the required documents required documents

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CSS ProfileCSS Profile

https://profileonline.collegeboard.com/index.jsphttps://profileonline.collegeboard.com/index.jsp Be sure to download the student guideBe sure to download the student guide

– All students are charged $9 for the initial All students are charged $9 for the initial application. application.

– This covers the costs of creating your PROFILE This covers the costs of creating your PROFILE Application and the first school report.Application and the first school report.

– You will be charged $16 for each additional college You will be charged $16 for each additional college or program to which you want information sent.or program to which you want information sent.

– Deadline usually around Feb. 1Deadline usually around Feb. 1stst

– Fee waivers issued automatically by collegeboard Fee waivers issued automatically by collegeboard based on income.based on income.

– Only some schools require the non-custodial Only some schools require the non-custodial parent information. Be sure to view the list of parent information. Be sure to view the list of colleges, universities, and scholarship programs colleges, universities, and scholarship programs that require the 2012 – 2013 PROFILE Service.that require the 2012 – 2013 PROFILE Service.

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Financial Aid MythsFinancial Aid Myths

1.1. Students with highest GPAs get all the aidStudents with highest GPAs get all the aid2.2. Income is too high, so don’t bother to applyIncome is too high, so don’t bother to apply3.3. Sibling didn’t qualify, so neither will I Sibling didn’t qualify, so neither will I 4.4. Attend the college that offers the most aid Attend the college that offers the most aid

(ratio of gift aid to self-help). Remember, in (ratio of gift aid to self-help). Remember, in most schools loans are considered aid and most schools loans are considered aid and are calculated into the final aid package. are calculated into the final aid package. Some upper level schools do not consider Some upper level schools do not consider loans financial aid and will therefore provide loans financial aid and will therefore provide grants in their place.grants in their place.

5.5. Cost is the only way to compare collegesCost is the only way to compare colleges6.6. ““Billions of Dollars Unclaimed…”Billions of Dollars Unclaimed…”

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““Billions of Dollars Billions of Dollars Unclaimed . . . ”Unclaimed . . . ”Scholarship Search CompaniesScholarship Search Companies Several warning signs of a possible Several warning signs of a possible

scamscam

– Guaranteed winningsGuaranteed winnings

– ““Free seminars” on financial aidFree seminars” on financial aid

– 1-900 telephone numbers1-900 telephone numbers

– www.fafsa.comwww.fafsa.com

CAUTION: As a general rule, if you must pay money to get money, it might be a scam.

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BEFORE BEFORE BEGINNING THE BEGINNING THE FAFSA ON THE FAFSA ON THE WEBWEB

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FAFSA on the Web Worksheet FAFSA on the Web Worksheet FAFSA Demo Site FAFSA Demo Site Scholarship Search Scholarship Search Career Voyages Career Voyages Publications Publications Forms Forms National Student Loan Data SystemNational Student Loan Data System Audio and Video Programs About Federal Audio and Video Programs About Federal

Student Aid Student Aid All can be accessed by visiting All can be accessed by visiting

https://studentaid.ed.gov/https://studentaid.ed.gov/ and clicking on and clicking on “Tools and Resources.”“Tools and Resources.”

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MyFSAMyFSA is an online account that provides is an online account that provides students with access to college and students with access to college and scholarship searches, career and self-scholarship searches, career and self-assessment tools, and other valuable assessment tools, and other valuable resources regarding college and financial resources regarding college and financial aid. Students can set up MyFSA accounts aid. Students can set up MyFSA accounts by visiting by visiting www.studentaid.ed.govwww.studentaid.ed.gov and and clicking on "MyFSA." To learn how to use clicking on "MyFSA." To learn how to use and take advantage of MyFSA's various and take advantage of MyFSA's various functions, students can click on functions, students can click on "Introduction to MyFSA." "Introduction to MyFSA."

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Aid EstimatorsAid Estimators

There are tools available to assist There are tools available to assist you in estimating the amount of you in estimating the amount of state and federal aid that you may state and federal aid that you may be eligible for. For more be eligible for. For more information visit: information visit: http://www.hesc.com/content.nsf/SFhttp://www.hesc.com/content.nsf/SFC/6/Financial_Aid_CalculatorsC/6/Financial_Aid_Calculators

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FAFSA4caster FAFSA4caster (highly (highly recommended)recommended)http://www.fafsa4caster.ed.govhttp://www.fafsa4caster.ed.gov If you want to begin exploring your If you want to begin exploring your

financial aid options and get an early financial aid options and get an early start on the financial aid process, start on the financial aid process, FAFSA4caster is for you! By using FAFSA4caster is for you! By using FAFSA4caster, you and your family will FAFSA4caster, you and your family will receive an early estimate of eligibility receive an early estimate of eligibility for federal student aid. When you’re for federal student aid. When you’re ready to apply for aid, much of the ready to apply for aid, much of the information that you enter in the information that you enter in the FAFSA4caster will populate your FAFSA FAFSA4caster will populate your FAFSA on the Web application, making the on the Web application, making the experience of applying for federal experience of applying for federal student aid a lot easier.student aid a lot easier.

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FAFA on the WEB FAFA on the WEB (FOTW)(FOTW) FOTW no longer contains FOTW no longer contains

numbered questions. numbered questions. Tabs are located at the top of Tabs are located at the top of

each page to indicate the step each page to indicate the step that you are completing. that you are completing.

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FAFSA.ED.GOVFAFSA.ED.GOV

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Before Beginning a Before Beginning a FAFSA OverviewFAFSA Overview

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Documents NeededDocuments Needed

•You will need records of income earned in the year prior to when you will start school. You may also need records of your parents' income information if you are a dependent student.

•For the 2012-2013 school year you will need financial information from 2011. You may need to refer to:

•Your Social Security card. It is important that you enter your Social Security Number correctly! •Your driver's license (if any)

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Documents NeededDocuments Needed

Your 2011 W-2 forms and other records of money earned

Your (and if married, your spouse's) 2011 Federal Income Tax Return. – IRS 1040, 1040A, 1040 EZ – Foreign Tax Return, or – Tax Return for Puerto Rico, Guam, American

Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federal States of Micronesia, or Palau

Your Parents' 2011 Federal Income Tax Return (if you are a dependent student)

Your 2011 untaxed income records Your current bank statements

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Documents NeededDocuments Needed

•Your current business and investment mortgage information, business and farm records, stock, bond and other investment records •Your alien registration or permanent resident card (if you are not a U.S. citizen) •To organize your information, you can print and complete a FAFSA on the Web Worksheet before you begin entering your information online. However, you are not required to do so. FAFSA on the Web will guide you through the questions that you must answer, and you can save your application and return to it later if you don't have the information you need to answer any of the questions.

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Before Beginning a FAFSA – FAFSA Before Beginning a FAFSA – FAFSA on the Web Worksheeton the Web Worksheet

The FAFSA on the Web Worksheet provides a preview of the questions that you may be asked while completing the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov. To download a copy of the Worksheet visit: http://www.fafsa.ed.gov/fotw1213/pdf/fafsaws13c.pdf

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FAFSA on the Web FAFSA on the Web WorksheetWorksheet

The questions within FAFSA on the Web are The questions within FAFSA on the Web are presented in a different order than the questions presented in a different order than the questions on the paper FAFSA.on the paper FAFSA.

The FAFSA on the Web Worksheet presents the The FAFSA on the Web Worksheet presents the questions in relatively the same order as they questions in relatively the same order as they are presented within FAFSA on the Web.are presented within FAFSA on the Web.

Students wanting to pre-fill a paper form in Students wanting to pre-fill a paper form in preparation for submitting their application preparation for submitting their application online should complete the FAFSA on the Web online should complete the FAFSA on the Web Worksheet rather than the paper FAFSA.Worksheet rather than the paper FAFSA.

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The Updated The Updated Dependency WorksheetDependency Worksheet

The Dependency Worksheet is designed The Dependency Worksheet is designed to help students determine if they need to help students determine if they need to provide parental information on the to provide parental information on the FAFSA.FAFSA.

Students can use the Worksheet prior to Students can use the Worksheet prior to beginning the online application. The beginning the online application. The Dependency Worksheet has been Dependency Worksheet has been updated to include new dependency updated to include new dependency questions and redesigned flow.questions and redesigned flow.

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Dependency Status Dependency Status Worksheet (2012-Worksheet (2012-

2013).2013).

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DependencyDependency

The student is considered a The student is considered a dependent unless one of the dependent unless one of the following criteria is met:following criteria is met:

The student is older than 24 or else turns The student is older than 24 or else turns 24 during that calendar year.24 during that calendar year.

The student is enrolled in a post-graduate The student is enrolled in a post-graduate program. program.

The student is married. The student is married. The student has children, or other non-The student has children, or other non-

spouse dependents, who live with them spouse dependents, who live with them and receive more than half of their and receive more than half of their monetary support from the student. monetary support from the student.

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The student is an orphan or ward of the state. The student is an orphan or ward of the state. The student is a military veteran or (as of July The student is a military veteran or (as of July

1st) currently serving in active duty for purposes 1st) currently serving in active duty for purposes other than training.. other than training..

The individual schools have the ability to The individual schools have the ability to override a student's dependency on a case-by-override a student's dependency on a case-by-case bases. Each school has their own policies case bases. Each school has their own policies on when and if they will override. This is usually on when and if they will override. This is usually reserved for extreme cases, such as abuse or reserved for extreme cases, such as abuse or abandonment. The student has to supply abandonment. The student has to supply supporting documentation and jump through supporting documentation and jump through several bureaucratic hoops during this process. several bureaucratic hoops during this process. The school's decision is final in this matter. In The school's decision is final in this matter. In the event of transfer to a different institution, the event of transfer to a different institution, the process is repeated in order to determine the process is repeated in order to determine the new school's decision on the issue of the new school's decision on the issue of dependency.dependency.

Dependency Dependency Continued..Continued..

Completing the 2012-Completing the 2012-2013 FAFSA On The Web 2013 FAFSA On The Web

(FOTW)(FOTW)

Taking it a Step at a TimeTaking it a Step at a Time

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Getting StartedGetting Started

Read all application instructionsRead all application instructions

If you prefer to mail in the FAFSA, If you prefer to mail in the FAFSA, you can visit you can visit http://studentaid.ed.gov/PORTALSWhttp://studentaid.ed.gov/PORTALSWebApp/students/english/forms.jsp#ebApp/students/english/forms.jsp#pdfFafsapdfFafsa. This form allows you to complete . This form allows you to complete the FAFSA on your computer for the FAFSA on your computer for printing. You can not save the printing. You can not save the FAFSA using this method. FAFSA using this method. REMEMBER! You are completing REMEMBER! You are completing the 2012-2013 FAFSA.the 2012-2013 FAFSA.

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The FAFSA - An Eight The FAFSA - An Eight Step ProcessStep Process

Step 1 Student (“you”) Specific Information.Step 1 Student (“you”) Specific Information. Step 2 Student’s Dependency Status.Step 2 Student’s Dependency Status. Step 3 Completing the Parental Information Step 3 Completing the Parental Information

“Your Parent” Sections.“Your Parent” Sections. Step 4 Students Finances.Step 4 Students Finances. Step 5 Searching for CollegesStep 5 Searching for Colleges Step 6 Preparers InformationStep 6 Preparers Information Step 7 Signatures ProcessStep 7 Signatures Process Step 8 Student and Parent Signatures Step 8 Student and Parent Signatures

(PINS)(PINS)

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Step 1: STUDENT Step 1: STUDENT SPECIFIC SECTION OF SPECIFIC SECTION OF FOTW. Info about “You” FOTW. Info about “You” the studentthe student

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Basic Contact Information

•It sounds silly, but make sure the name is in the correct order: Last, First, MI. •Whenever you're filling out basic information, use the SAME information as on your IRS tax return, which should be identical to the information on your SOCIAL SECURITY paperwork/card. •Your address is the SAME as the address you use on your TAX RETURNS. •Be absolutely, positively sure you've got the Social Security Number (SSN) right. Nothing will kill a FAFSA faster than a mistake on the SSN.

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No driver's license? State ID will do. No ID at all? You can safely leave this Question blank, but it's not encouraged.

Double-check your email address! The Department of Education will send FAFSA results to that email address.

Some schools will thoroughly scrutinize your FAFSA by comparing it with your 1040. They may confront you with inconsistencies such as different addresses.

Basic Contact Information

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The social security The social security numbernumber

If you or your student do not have a valid If you or your student do not have a valid Social Security Number, then enter all Social Security Number, then enter all zeros. You can not leave this question zeros. You can not leave this question blank. blank.

Even if you do not have a social security Even if you do not have a social security number, the FAFSA will be used to number, the FAFSA will be used to determine institutional aid. In other determine institutional aid. In other words, NO FAFSA NO AID.words, NO FAFSA NO AID.

Since you do not have a social, you can Since you do not have a social, you can not receive a pin. You must therefore not receive a pin. You must therefore print and sign the signature page.print and sign the signature page.

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DemographicsDemographics“You” the Student“You” the Student

Questions on “marital status” - Questions on “marital status” - reminder - this is the student, not the reminder - this is the student, not the parents! “You” always refers to the parents! “You” always refers to the student.student.

Question about Selective Service: Yes, Question about Selective Service: Yes, that's the draft. It is a requirement that that's the draft. It is a requirement that males 18 years old or older be males 18 years old or older be registered for the draft. No Selective registered for the draft. No Selective Service registration equals no financial Service registration equals no financial aid.aid.

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• Question on criminal convictions:Question on criminal convictions: answer honestly, answer honestly, and don't leave it blank. If you have been and don't leave it blank. If you have been convicted, omitting the answer can be a crime. convicted, omitting the answer can be a crime. Remember, the question is just about whether the Remember, the question is just about whether the drug offensedrug offense was was while you were receiving while you were receiving federal financial aidfederal financial aid. . Do NOT countDo NOT count convictions convictions that occurred before you turned 18, unless you that occurred before you turned 18, unless you were tried as an adult. were tried as an adult.

• Questions on parents education are used to qualify Questions on parents education are used to qualify you for scholarships for students who are the first you for scholarships for students who are the first in their family to go to college. Be sure to complete in their family to go to college. Be sure to complete this - some schools have additional aid for this - some schools have additional aid for students with parents either from certain students with parents either from certain educational backgrounds, or who are the first in educational backgrounds, or who are the first in their family to go to college.their family to go to college.

Criminal Records and Parents Education Status “You” the student

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Question on Loans and Question on Loans and Work StudyWork Study If you want to qualify for If you want to qualify for

Federal Student LoansFederal Student Loans as well as Federal as well as Federal Work Study, you must select that you Work Study, you must select that you are interested on the FOTW. are interested on the FOTW. This does This does not obligate you to apply for a loan.not obligate you to apply for a loan.

Selecting yes that you are Selecting yes that you are interested will not reduce your interested will not reduce your financial aid package. I recommend financial aid package. I recommend that you select that you are that you select that you are interested.interested.

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Step 2: Dependency Step 2: Dependency Status QuestionsStatus Questions

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Special CircumstancesSpecial Circumstances

FAFSA on the Web has been updated to FAFSA on the Web has been updated to allow dependent students that are unable allow dependent students that are unable to provide parental data to submit their to provide parental data to submit their application onlineapplication online

No EFC will be calculated and students will No EFC will be calculated and students will be advised of the consequences of be advised of the consequences of submitting an application without parental submitting an application without parental datadata

Students will be advised to follow-up with Students will be advised to follow-up with the financial aid office at the college they the financial aid office at the college they plan to attend.plan to attend.

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Special Circumstances: Page 1 Special Circumstances: Page 1 of 3 of 3 Displayed only if student is dependent. Displayed only if student is dependent. Student can indicate that they will provide Student can indicate that they will provide parental information or they can indicate they parental information or they can indicate they have a special circumstance.have a special circumstance.

5151

Special Circumstances: Page Special Circumstances: Page 2 of 3 2 of 3 Displayed only if a dependent Displayed only if a dependent

student indicated that they have a special student indicated that they have a special circumstance on page 1.circumstance on page 1.

5252

Special Circumstances: Page 3 of 3Special Circumstances: Page 3 of 3Displayed only if a dependent student indicates Displayed only if a dependent student indicates that they have a special circumstance on page that they have a special circumstance on page

2. Students must now confirm that they 2. Students must now confirm that they understand their FAFSA will be submitted understand their FAFSA will be submitted

without calculating an EFC.without calculating an EFC.

5353

Step 3: Completing the Step 3: Completing the Parental Information Parental Information “Your Parent” Sections.“Your Parent” Sections.

5454

Who is “Your Parent” Who is “Your Parent” Parent? Parent?

Obviously, if you live at home with your married Obviously, if you live at home with your married parents, they are your parents. parents, they are your parents.

If a parent is widowed or single, fill in the questions If a parent is widowed or single, fill in the questions appropriately. appropriately.

A step-parent (after marriage) is considered a parent A step-parent (after marriage) is considered a parent from a financial aid perspective. from a financial aid perspective.

If the parents are divorced or separated, the If the parents are divorced or separated, the parent is parent is considered to be the one which the student lived considered to be the one which the student lived with more in the past 12 months, not necessarily with more in the past 12 months, not necessarily the person who claimed him as a dependent on the person who claimed him as a dependent on their tax return. their tax return.

If the student did not live with either parent in a If the student did not live with either parent in a divorced/separated situation, the parent is the one who divorced/separated situation, the parent is the one who contributed more financial assistance in the past 12 contributed more financial assistance in the past 12 months. months.

If the If the student did not receivestudent did not receive appreciably appreciably more more supportsupport from one parent or another, from one parent or another, the parent is the parent is the one who claims the student as a dependent the one who claims the student as a dependent on the IRS tax returnon the IRS tax return..

5555

Who is “Your Parent” Who is “Your Parent” Parent?Parent? A foster parent, legal guardian, or a grandparent or A foster parent, legal guardian, or a grandparent or

other relative is not treated as a parent for other relative is not treated as a parent for purposes of filing a FAFSA unless that person has purposes of filing a FAFSA unless that person has legally adoptedlegally adopted the applicant. the applicant.

An adoptive parent is treated in the same manner An adoptive parent is treated in the same manner as a biological parent on the FAFSA. as a biological parent on the FAFSA.

The question of parents and dependents is one of The question of parents and dependents is one of the trickiest on the FAFSA. You may need to contact the trickiest on the FAFSA. You may need to contact your financial aid officer to get a "professional your financial aid officer to get a "professional judgment" or a "dependency override" if you're in a judgment" or a "dependency override" if you're in a tricky situation, but you MUST file the FAFSA as a tricky situation, but you MUST file the FAFSA as a dependent student with as much information as dependent student with as much information as possible on the parent regardless of your living possible on the parent regardless of your living situation if you otherwise meet the terms of a situation if you otherwise meet the terms of a dependent student. dependent student.

5656

WHO IS “Your Parent”? Q&AWHO IS “Your Parent”? Q&A

QUESTION: My parents are divorced, QUESTION: My parents are divorced, and the parent I'm living with has and the parent I'm living with has remarried. Does my step-parent have remarried. Does my step-parent have to report his or her income and assets to report his or her income and assets on the FAFSA? on the FAFSA?

ANSWER: Yes, provided that the parent ANSWER: Yes, provided that the parent you're living with is the one filling out you're living with is the one filling out the FAFSA (your custodial parent). the FAFSA (your custodial parent).

5757

QUESTION: My parents are separated or divorced. Which parent QUESTION: My parents are separated or divorced. Which parent is responsible for filling out the FAFSA? is responsible for filling out the FAFSA?

ANSWER: If your parents are separated or divorced, the ANSWER: If your parents are separated or divorced, the custodial parent is responsible for filling out the FAFSA. The custodial parent is responsible for filling out the FAFSA. The custodial parent is the parent with whom you custodial parent is the parent with whom you LIVEDLIVED the the most during the past 12 months. Note that this is not most during the past 12 months. Note that this is not necessarily the same as the parent who has legal custody. If necessarily the same as the parent who has legal custody. If you did not live with one parent more than the other, the you did not live with one parent more than the other, the parent who provided you with the most financial support parent who provided you with the most financial support should fill out the FAFSA. This is probably the parent who should fill out the FAFSA. This is probably the parent who claimed you as a dependent on their tax return. If you have claimed you as a dependent on their tax return. If you have not received any support from either parent during the past not received any support from either parent during the past 12 months, use the most recent calendar year for which you 12 months, use the most recent calendar year for which you received some support from a parent or lived with either received some support from a parent or lived with either parent. parent.

Note, however, that any child support and/or alimony received Note, however, that any child support and/or alimony received from the non-custodial parent must be included on the from the non-custodial parent must be included on the FAFSA. FAFSA.

WHO IS “Your Parent”? Q&AWHO IS “Your Parent”? Q&A

5858

Entering Parental DataEntering Parental Data

5959

Parental InformationParental Information

Household size: include yourself (the student) Household size: include yourself (the student) in the parents' household even if you don't live in the parents' household even if you don't live with them. Also include: with them. Also include: – Siblings if the parents provide more than 50% support Siblings if the parents provide more than 50% support – Other people for whom the parents provide more Other people for whom the parents provide more

than 50% support (i.e. grandparents living in the than 50% support (i.e. grandparents living in the house, etc.) house, etc.)

– Babies on the way who will be born before the start of Babies on the way who will be born before the start of the coming school year. the coming school year.

The more people who live in a household, the The more people who live in a household, the better. better.

How many in college question: Always include How many in college question: Always include the student - this number should never be zero. the student - this number should never be zero.

6060

Parental Information Parental Information (Assets)(Assets)

Time again to empty out those assets as much as Time again to empty out those assets as much as possible. With parents, it's likely you will have more possible. With parents, it's likely you will have more investments than a child/student, so those investments than a child/student, so those investments with a positive net worth need to be investments with a positive net worth need to be offset by something with a negative net worth, or offset by something with a negative net worth, or those financial instruments should be shifted to those financial instruments should be shifted to someone else to manage. someone else to manage.

For questions about checking, savings, and For questions about checking, savings, and investments, they are as of the date the FAFSA is investments, they are as of the date the FAFSA is filed, so make sure you move or spend filed, so make sure you move or spend appropriately! appropriately!

A reminder: parents' investments and financial A reminder: parents' investments and financial standing is given less weight in financial aid standing is given less weight in financial aid considerations than students' financial standings. considerations than students' financial standings.

6161

Dislocated WorkerDislocated Worker

This question asks if either of your parents is a dislocated worker. This question asks if either of your parents is a dislocated worker. Answer this question about the parent who is completing the Answer this question about the parent who is completing the applicationapplication

In general, a person may be considered a dislocated worker if he In general, a person may be considered a dislocated worker if he or she:or she:

is receiving unemployment benefits due to being laid off or is receiving unemployment benefits due to being laid off or losing a job and is unlikely to return to a previous occupation;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;has been laid off or received a lay-off notice from a job; was self-employed but is now unemployed due to economic was self-employed but is now unemployed due to economic

conditions or natural disaster; orconditions or natural disaster; or is a displaced homemaker. A displaced homemaker is generally is a displaced homemaker. A displaced homemaker is generally

a person who previously provided unpaid services to the family a person who previously provided unpaid services to the family (for example: a stay-at-home mom or dad), is no longer (for example: a stay-at-home mom or dad), is no longer supported by the husband or wife, is unemployed or supported by the husband or wife, is unemployed or underemployed, and is having trouble finding or upgrading underemployed, and is having trouble finding or upgrading employment.employment.

If a person quits work, generally he or she is not considered a If a person quits work, generally he or she is not considered a dislocated worker even if, for example, the person is receiving dislocated worker even if, for example, the person is receiving unemployment benefits. unemployment benefits.

6262

Selecting “will file” Selecting “will file” instead of “have filed” instead of “have filed”

on the tax return on the tax return questionquestion If you complete the 2012-2013 FAFSA prior to If you complete the 2012-2013 FAFSA prior to

completing you 2011 tax return, then you completing you 2011 tax return, then you must select “will file” for tax return status. must select “will file” for tax return status.

If you select “will file” and submit the FAFSA, If you select “will file” and submit the FAFSA, then you will need to edit the FAFSA once then you will need to edit the FAFSA once you file your 2011 tax return.you file your 2011 tax return.

You do this by “making corrections to a You do this by “making corrections to a processed FAFSA” and changing the question processed FAFSA” and changing the question from “will file” to “have filed” and making from “will file” to “have filed” and making any financial adjustments.any financial adjustments.

Remember! DO NOT use tax information Remember! DO NOT use tax information from 2010, estimate 2011 tax and income from 2010, estimate 2011 tax and income information from 2011 W2 and paystubs.information from 2011 W2 and paystubs.

6363

Step 4: Students Step 4: Students FinancesFinances

6464

Should “You” the Should “You” the student file a tax student file a tax return?return? If you expect to file a single If you expect to file a single

return, the IRS requires you to file return, the IRS requires you to file a return for 2011 if your a return for 2011 if your gross incomegross income for the year is at for the year is at least:least:

$9,350 if you are under age 65. $9,350 if you are under age 65.

6565

Student Cash and Student Cash and AssetsAssets

Now we're getting into the complex Now we're getting into the complex stuff. Question on how much the stuff. Question on how much the student has on hand in terms of liquid student has on hand in terms of liquid assets. Cash, checking, and savings assets. Cash, checking, and savings accounts. Guess what the best answer accounts. Guess what the best answer for this question is? Zero. If it's not zero, for this question is? Zero. If it's not zero, make sure it's zero by the time you file. make sure it's zero by the time you file.

For this question, it's also important to For this question, it's also important to note that it is as of the date of the note that it is as of the date of the FAFSA filing, meaning you have the FAFSA filing, meaning you have the opportunity to move these assets prior opportunity to move these assets prior to filing the FAFSA and still be legally in to filing the FAFSA and still be legally in full compliance. full compliance.

6666

Student Net WorthStudent Net Worth

This is an important one as well - the This is an important one as well - the ideal situation from a federal ideal situation from a federal financial aid perspective is for a financial aid perspective is for a student to have no money student to have no money whatsoever. whatsoever.

Note that your net worth, at least for Note that your net worth, at least for financial aid purposes, cannot be financial aid purposes, cannot be negative. Zero is as low as you can negative. Zero is as low as you can go, so zero is the goal. go, so zero is the goal.

6767

Expected Family Expected Family Contribution (EFC)Contribution (EFC)

6868

Expected Family Expected Family Contribution (EFC)Contribution (EFC)The Expected Family Contribution (EFC) is a number that is used to The Expected Family Contribution (EFC) is a number that is used to

determine a student’s eligibility for federal student aid. This determine a student’s eligibility for federal student aid. This number results from the financial information the student number results from the financial information the student provides on his or her Free Application for Federal Student Aid provides on his or her Free Application for Federal Student Aid (FAFSA). The EFC is reported on the Student Aid Report (SAR). (FAFSA). The EFC is reported on the Student Aid Report (SAR). Financial aid administrators (FAAs) determine an applicant’s need Financial aid administrators (FAAs) determine an applicant’s need for federal student aid from the U.S. Department of Education for federal student aid from the U.S. Department of Education (the Department) and other sources of assistance by subtracting (the Department) and other sources of assistance by subtracting the EFC from the student’s cost of attendance (COA).the EFC from the student’s cost of attendance (COA).

The EFC formula is used to determine the EFC and ultimately The EFC formula is used to determine the EFC and ultimately determine the need for aid from the following types of federal determine the need for aid from the following types of federal student financial assistance programs:student financial assistance programs:

Federal Pell Grant,Federal Pell Grant, Teacher Education Assistance for College and Higher Education Teacher Education Assistance for College and Higher Education

Grant (TEACH Grant),Grant (TEACH Grant), ““Campus-based” aid programsCampus-based” aid programs Federal Supplemental Educational Opportunity Grant (FSEOG),Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Loans, andFederal Loans, and Federal Work-Study (FWS).Federal Work-Study (FWS).

6969

Simplified EFCSimplified EFC

Students who qualify for the simplified EFC formula DO NOT have to answer questions on “assets”

7070

Means Tested Federal Benefits Means Tested Federal Benefits QuestionsQuestions

7171

Automatic Zero EFCAutomatic Zero EFC

Certain students are automatically eligible for a zero EFC.

That means that they will qualify That means that they will qualify for the full amount of Federal for the full amount of Federal Financial Aid.Financial Aid.

7272

Step 5: Searching for Step 5: Searching for CollegesColleges

7373

The Homestretch The Homestretch

Indicate which schools you, the student, Indicate which schools you, the student, plan to attend and where you plan to plan to attend and where you plan to live while attending school. live while attending school.

To get the six-digit school code, use the To get the six-digit school code, use the FAFSA School Codes Search DirectoryFAFSA School Codes Search Directory. .

This should be a list of the top schools This should be a list of the top schools you plan to attend. If you don't have a you plan to attend. If you don't have a lot of schools, add backup schools to the lot of schools, add backup schools to the list. If you have more schools you are list. If you have more schools you are planning to attend than there are planning to attend than there are spaces, fill in your top choices. spaces, fill in your top choices.

7474

Searching for College Searching for College CodesCodes

7575

Searching for College Searching for College CodesCodes

7676

Searching for College CodesSearching for College Codes

7777

Step 7: Signature Step 7: Signature ProcessProcess

7878

Pin Options From Pin Options From www.pin.ed.govwww.pin.ed.gov

7979

PIN: Personal Identification PIN: Personal Identification Number with the U.S. Dept. of Number with the U.S. Dept. of EducationEducation www.pin.ed.govwww.pin.ed.gov

Why is PIN important?Why is PIN important? Can be used as the student's signature when Can be used as the student's signature when

completing the FAFSA on-line. completing the FAFSA on-line. Will allow student to access other Dept. of Education Will allow student to access other Dept. of Education

databases in the future.databases in the future. PINs are specific to an individual. A parent will also PINs are specific to an individual. A parent will also

obtain a PIN so s/he can also sign FAFSA obtain a PIN so s/he can also sign FAFSA electronically.electronically.

If student and/or parent does not "sign" the FAFSA If student and/or parent does not "sign" the FAFSA with a PIN, the signature page MUST be printed from with a PIN, the signature page MUST be printed from the the www.fafsa.ed.govwww.fafsa.ed.gov website, signed and mailed to website, signed and mailed to the federal processor.the federal processor.

8080

Obtaining a PINObtaining a PIN

You can apply for a pin while you are You can apply for a pin while you are completing the FAFSA online. This completing the FAFSA online. This method allows you to designate your method allows you to designate your pin in real time. It is recommended that pin in real time. It is recommended that you use four digits that you will you use four digits that you will remember. If you have previously remember. If you have previously applied for a pin, you will need that pin applied for a pin, you will need that pin to sign the FAFSA. This includes if you to sign the FAFSA. This includes if you applied for financial aid for yourself or applied for financial aid for yourself or another child.another child.

8181

Signature Process Student Signature Process Student PinPin

8282

Agreement and Display of Application Agreement and Display of Application InformationInformation

8383

Signature Process - ParentsSignature Process - Parents

8484

Signature Page – Student and Signature Page – Student and Parent-Only if you can not apply Parent-Only if you can not apply for a pin because you do not have for a pin because you do not have a sociala social

8585

Agreement, Display of Application Agreement, Display of Application Information, and Submit My FAFSA Information, and Submit My FAFSA Now Now

8686

Print confirmation page and Print confirmation page and follow link to apply for state-follow link to apply for state-

based aid (TAP)based aid (TAP)

8787

Tuition Assistance Tuition Assistance ProgramProgram

Start the TAP application process by completing and Start the TAP application process by completing and submitting the Free Application for Federal Student Aid submitting the Free Application for Federal Student Aid (FAFSA) electronically at (FAFSA) electronically at www.fafsa.ed.govwww.fafsa.ed.gov. New York . New York State will use FAFSA information as part of your State will use FAFSA information as part of your application for TAP.application for TAP.

If you apply using FAFSA-on-the-Web, If you apply using FAFSA-on-the-Web, you will be able to you will be able to link to your online TAP application at the end of the link to your online TAP application at the end of the FAFSA session. This is a one shot deal. If you don’t FAFSA session. This is a one shot deal. If you don’t link you have to complete the TAP application link you have to complete the TAP application manually.manually.

You will be asked to establish a You will be asked to establish a PIN (Personal Identification Number)PIN (Personal Identification Number) for TAP. The TAP PIN for TAP. The TAP PIN will allow you complete your application, keep track of will allow you complete your application, keep track of your application information, or make changes, later. After your application information, or make changes, later. After establishing your PIN, you will be able to complete your establishing your PIN, you will be able to complete your TAP application online. Information from your FAFSA and TAP application online. Information from your FAFSA and your family's calculated NYS net taxable income will be your family's calculated NYS net taxable income will be pre-filled on your TAP-on- the -Web application. Follow the pre-filled on your TAP-on- the -Web application. Follow the instructions provided. instructions provided.

TAP can provide students’ whose parent’s New York State TAP can provide students’ whose parent’s New York State taxable income is below $80,000 with grants ranging from taxable income is below $80,000 with grants ranging from $500-5,000.$500-5,000.

8888

What Happens What Happens Next?Next?

Student and school receive Student Aid Student and school receive Student Aid Report (SAR) or (ISIR) from federal Report (SAR) or (ISIR) from federal processorprocessor

School matches admissions record with School matches admissions record with financial aid application and determines financial aid application and determines eligibilityeligibility

School mails Award Letter to studentSchool mails Award Letter to student

Student mails Award Letter back to Student mails Award Letter back to schoolschool

8989

Making Corrections or Making Corrections or adding schools.adding schools. You can edit a submitted FAFSA You can edit a submitted FAFSA

online by using your pin. Once the online by using your pin. Once the corrections are made you must corrections are made you must resubmit using pin.resubmit using pin.

If you have more than ten schools If you have more than ten schools and would like to add them later you and would like to add them later you can do so by editing the online can do so by editing the online FAFSA. Be sure that the schools that FAFSA. Be sure that the schools that you remove have already uploaded you remove have already uploaded your SAR.your SAR.

9090

Special CircumstancesSpecial Circumstances

1.1. Tell your family’s whole financial Tell your family’s whole financial situation by either speaking to the situation by either speaking to the financial aid rep. at the school, using financial aid rep. at the school, using the CSS PROFILE’s “anything else” the CSS PROFILE’s “anything else” section, and the FAFSA special section, and the FAFSA special circumstances section.circumstances section.

2.2. Some reasons your child might ask for Some reasons your child might ask for more aid:more aid:

• Another college gave your student a Another college gave your student a better offer.better offer.

• Someone in your family loses their jobSomeone in your family loses their job• Your child’s books cost more than Your child’s books cost more than

they estimatedthey estimated. .

9191

Request for Professional Request for Professional JudgmentJudgment

• Professional judgment is used to take into Professional judgment is used to take into consideration factors which have not been reflected consideration factors which have not been reflected on the FAFSA. The professional judgment may on the FAFSA. The professional judgment may either increase or decrease data elements used to either increase or decrease data elements used to calculate a student’s EFC. Expenses may also be calculate a student’s EFC. Expenses may also be added to a student’s budgeted cost of attendance added to a student’s budgeted cost of attendance depending on the situation.depending on the situation.

• The Director of Financial Aid is expected and The Director of Financial Aid is expected and required to make reasonable decisions that support required to make reasonable decisions that support the intent of the provision. The school is held the intent of the provision. The school is held accountable for all professional judgment decisions accountable for all professional judgment decisions made and for fully documenting each decision. The made and for fully documenting each decision. The decision of the Director of Financial Aid is final; decision of the Director of Financial Aid is final; there is no appeal process to the U.S. Department there is no appeal process to the U.S. Department of Education.of Education.

• To request a professional judgment, speak with an To request a professional judgment, speak with an admissions representative at each school that your admissions representative at each school that your student was accepted into.student was accepted into.

9292

The Award LetterThe Award Letter

Provides Important InformationProvides Important Information

Types and amounts of aid offeredTypes and amounts of aid offered

Specific program informationSpecific program information

Student responsibilitiesStudent responsibilities

Conditions governing awardsConditions governing awards

Opportunity to accept or decline Opportunity to accept or decline

awardsawards

Award Letter

9393

Figuring Out the Best Figuring Out the Best DealDeal

Develop an Award Comparison Chart or Develop an Award Comparison Chart or

download at download at

www.webreader.com/download/school-cost-comwww.webreader.com/download/school-cost-comparison.xlsparison.xls

Consider direct, non-direct and total costs at Consider direct, non-direct and total costs at

each institutioneach institution• Review types, amounts and renewability of gift Review types, amounts and renewability of gift

aid (free money)aid (free money)• Compare types and amounts of self-help aid Compare types and amounts of self-help aid

(work-study and/or loans)(work-study and/or loans)• Determine any amount you’ll need to pay in Determine any amount you’ll need to pay in

addition to awards being offeredaddition to awards being offered

Develop an Award Comparison Chart or Develop an Award Comparison Chart or

download at download at

www.webreader.com/download/school-cost-comwww.webreader.com/download/school-cost-comparison.xlsparison.xls

Consider direct, non-direct and total costs at Consider direct, non-direct and total costs at

each institutioneach institution• Review types, amounts and renewability of gift Review types, amounts and renewability of gift

aid (free money)aid (free money)• Compare types and amounts of self-help aid Compare types and amounts of self-help aid

(work-study and/or loans)(work-study and/or loans)• Determine any amount you’ll need to pay in Determine any amount you’ll need to pay in

addition to awards being offeredaddition to awards being offered

9494

Final StepsFinal Steps

Once you have determined which Once you have determined which

college to attend:college to attend:

• Notify the other colleges that you Notify the other colleges that you

will not be attendingwill not be attending• Contact your Financial Aid Office Contact your Financial Aid Office

and furnish them with all and furnish them with all requested documentationrequested documentation

9595

Special financial aid programs Special financial aid programs which reduce academic admission which reduce academic admission requirements for students that requirements for students that meet specific financial and meet specific financial and academic criteria. academic criteria.

Programs range from free tuition, Programs range from free tuition, room and board to small grants.room and board to small grants.

Extremely competitive programs. Extremely competitive programs. Timeliness is critical.Timeliness is critical.

EOP/HEOP/SEEKEOP/HEOP/SEEK

9696

Be sure that the student checks the Be sure that the student checks the appropriate box on the application to be appropriate box on the application to be considered for these programs.considered for these programs.

If you are unsure that your student may If you are unsure that your student may qualify, check the box anyway.qualify, check the box anyway.

The school’s financial aid office will make a The school’s financial aid office will make a determination based on:determination based on:– The FAFSAThe FAFSA– Copies of financial documentsCopies of financial documents– Special CircumstancesSpecial Circumstances– Student’s academic records (Transcripts/SAT)Student’s academic records (Transcripts/SAT)– Supplemental Applications.Supplemental Applications.– CSS ProfileCSS Profile

EOP/HEOP/SEEK EOP/HEOP/SEEK ContinuedContinued

9797

9898

Financial Aid Links to Financial Aid Links to rememberremember

www.fafsa.ed.govwww.fafsa.ed.gov www.pin.ed.govwww.pin.ed.gov http://www.finaid.org/http://www.finaid.org/ http://www.hispanicfund.org/http://www.hispanicfund.org/ http://www.nycolleges.org/http://www.nycolleges.org/ http://www.hesc.com/content.nsf/http://www.hesc.com/content.nsf/ http://www.collegeanswer.com/http://www.collegeanswer.com/ www.college.govwww.college.gov https://studentaid.ed.gov/https://studentaid.ed.gov/ www.suny.eduwww.suny.edu www.cuny.eduwww.cuny.edu www.heop.orgwww.heop.org

9999

Complete Spanish FOTW SiteComplete Spanish FOTW Site

100100

Finally…Finally…

ENJOY COLLEGE!!!ENJOY COLLEGE!!!

101101

CONTACT CONTACT INFORMATIONINFORMATION Mr. GiordanoMr. Giordano TapcoCounselor@gmail.comTapcoCounselor@gmail.com Web Web

site:www.admissionsandaid.comsite:www.admissionsandaid.com Facebook Page: Facebook Page: Theatre Arts Theatre Arts

Production Company School Production Company School College GuidanceCollege Guidance

102102

REMINDERS and tips for 2012/2013 REMINDERS and tips for 2012/2013 FAFSAFAFSAonlineonline

You may complete the Free Application for Federal You may complete the Free Application for Federal Student Aid (FAFSA) on-line at www.fafsa.ed.gov.Student Aid (FAFSA) on-line at www.fafsa.ed.gov.

In order to electronically sign your FAFSA, you need to In order to electronically sign your FAFSA, you need to obtain a PIN. Go to www.pin.ed.gov to register. If you obtain a PIN. Go to www.pin.ed.gov to register. If you are a dependent student, one of your parents will also are a dependent student, one of your parents will also need a PIN. need a PIN.

Please note that the online FAFSA has a link to the PIN Please note that the online FAFSA has a link to the PIN website and you can complete your PIN application at website and you can complete your PIN application at the same time you are completing the FAFSA.the same time you are completing the FAFSA.

Use your full name as it appears on your social security Use your full name as it appears on your social security card.card.

Read all questions carefully. “You” refers to the Read all questions carefully. “You” refers to the student, not the parent.student, not the parent.

Males between the ages of 18 and 25 should be Males between the ages of 18 and 25 should be registered for selective service. If not registered, you registered for selective service. If not registered, you may register on the FAFSA.may register on the FAFSA.

103103

If 2011 taxes are not completed, you may estimate If 2011 taxes are not completed, you may estimate your income. Be sure to select that you “will file.” your income. Be sure to select that you “will file.”

Once your income taxes are completed, you should Once your income taxes are completed, you should correct the estimations with the actual information.correct the estimations with the actual information.

Your parent(s) must complete their section if you Your parent(s) must complete their section if you do not meet the criteria for an independent do not meet the criteria for an independent student.student.

According to the U.S. Department of Education, a According to the U.S. Department of Education, a parent is defined as your biological or adoptive parent is defined as your biological or adoptive mother or father. Grandparents, foster parents, mother or father. Grandparents, foster parents, and legal guardians are not considered parents.and legal guardians are not considered parents.

A stepparent who is married to the parent you lived A stepparent who is married to the parent you lived with during the past 12 months is also considered a with during the past 12 months is also considered a parent.parent.

Get your colleges’ Title IV school codes. You can Get your colleges’ Title IV school codes. You can ask your college(s) or go to www.fafsa.ed.gov and ask your college(s) or go to www.fafsa.ed.gov and click on Find My School Codes.click on Find My School Codes.

REMINDERS and tips for 2012/2013 FAFSAonline

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Before you submit your on-line FAFSA, print a Before you submit your on-line FAFSA, print a copy of your Summary page and check for copy of your Summary page and check for accuracy.accuracy.

After you have submitted your on-line FAFSA, After you have submitted your on-line FAFSA, print a copy of your Confirmation page.print a copy of your Confirmation page.

Keep all copies and file in a safe place.Keep all copies and file in a safe place. If you selected “will file” on the FAFSA If you selected “will file” on the FAFSA

regarding your 2011 tax return, you MUST regarding your 2011 tax return, you MUST change this once you have filed your 2011 change this once you have filed your 2011 tax return by submitting FAFSA corrections.tax return by submitting FAFSA corrections.

REMINDERS and tips for 2012/2013 FAFSAonline

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10 ways to improve 10 ways to improve your student aid your student aid

eligibility:eligibility: Don’t delay. If you file your income taxes around the April 15th Don’t delay. If you file your income taxes around the April 15th

deadline, don’t wait until your taxes are completed to file your deadline, don’t wait until your taxes are completed to file your FAFSA or you will miss most of the state and college student FAFSA or you will miss most of the state and college student aid deadlines. Most programs award aid on a first-come, first-aid deadlines. Most programs award aid on a first-come, first-serve basis. Providing accurate estimates on the FAFSA is serve basis. Providing accurate estimates on the FAFSA is perfectly fine. Be careful when calculating or estimating your perfectly fine. Be careful when calculating or estimating your adjusted gross income. Answering this question incorrectly adjusted gross income. Answering this question incorrectly won’t cause your FAFSA to be rejected, but could lower your won’t cause your FAFSA to be rejected, but could lower your aid award. Remember, your taxable income is aid award. Remember, your taxable income is notnot your your adjusted gross income. adjusted gross income.

Don’t include untaxed Social Security as income. The law Don’t include untaxed Social Security as income. The law changed this year. Reporting it will inflate your expected changed this year. Reporting it will inflate your expected family contribution and lower the amount of aid for which you family contribution and lower the amount of aid for which you are eligible. are eligible.

Children of divorced parents typically believe that the parent Children of divorced parents typically believe that the parent they live with is their legal guardian and that they are in a they live with is their legal guardian and that they are in a legal guardianship. This is not true in all cases. A wrong legal guardianship. This is not true in all cases. A wrong answer will incorrectly change the student’s dependency answer will incorrectly change the student’s dependency status to “independent” and impact the aid calculation. status to “independent” and impact the aid calculation.

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More families are withdrawing More families are withdrawing funds from retirement accounts funds from retirement accounts early – sometimes it’s taxed and early – sometimes it’s taxed and sometimes it’s not. Counting sometimes it’s not. Counting these funds in both adjusted gross these funds in both adjusted gross income and untaxed income will income and untaxed income will inflate your expected family inflate your expected family contribution and decrease aid. contribution and decrease aid.

10 ways to improve your 10 ways to improve your student aid eligibility:student aid eligibility:

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Consider getting student aid advice and FAFSA preparation Consider getting student aid advice and FAFSA preparation help from paid help from paid professionalsprofessionals. Federal law allows paid . Federal law allows paid professional FAFSA preparation, much like tax advisors professional FAFSA preparation, much like tax advisors help families prepare their taxes accurately and correctly help families prepare their taxes accurately and correctly to maximize their tax refunds. Choose a professional FAFSA to maximize their tax refunds. Choose a professional FAFSA preparer who has a good Better Business Bureau rating, preparer who has a good Better Business Bureau rating, uses people to review each answer to ensure accuracy, uses people to review each answer to ensure accuracy, receives high ratings from past clients, and has the goal of receives high ratings from past clients, and has the goal of making you eligible for the most aid possible. With the making you eligible for the most aid possible. With the average student aid award of $9,500 at stake, help from a average student aid award of $9,500 at stake, help from a professional FAFSA preparer can relieve some of the stress professional FAFSA preparer can relieve some of the stress of finding money for college. of finding money for college.

Don’t include your primary residence as an asset, or you Don’t include your primary residence as an asset, or you will be inflating your expected family contribution and will be inflating your expected family contribution and lowering your potential for aid. lowering your potential for aid.

Not all businesses are treated the same when calculating Not all businesses are treated the same when calculating assets. Different rules apply to family-owned businesses assets. Different rules apply to family-owned businesses employing fewer than 100 people. Getting this wrong won’t employing fewer than 100 people. Getting this wrong won’t reject your FAFSA, but it could lower the amount of aid for reject your FAFSA, but it could lower the amount of aid for which you are eligible. which you are eligible.

10 ways to improve your 10 ways to improve your student aid eligibility:student aid eligibility:

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List your last name exactly as it appears on your List your last name exactly as it appears on your Social Security card or your FAFSA will be rejected. Social Security card or your FAFSA will be rejected.

Double-check all numbers. That sounds simple, but Double-check all numbers. That sounds simple, but transposing numbers is one of the most common transposing numbers is one of the most common mistakes and will affect your aid award. mistakes and will affect your aid award.

Meeting state and college Meeting state and college deadlinesdeadlines is essential to is essential to receiving aid.receiving aid.

““With 70 percent of all state and college deadlines With 70 percent of all state and college deadlines falling before April 15, 2010, it is critical that students falling before April 15, 2010, it is critical that students and their families prepare their aid application now – and their families prepare their aid application now – even if they have to estimate income,” Carroll said. even if they have to estimate income,” Carroll said. “Otherwise, they risk losing out on aid.”“Otherwise, they risk losing out on aid.”

The first state deadline is Connecticut’s on Sunday, The first state deadline is Connecticut’s on Sunday, Feb. 15, 2011. Eight states and 765 colleges have Feb. 15, 2011. Eight states and 765 colleges have their FAFSA deadline on March 1, 2011. New York’s their FAFSA deadline on March 1, 2011. New York’s deadline is 5/1/2011deadline is 5/1/2011

10 ways to improve your 10 ways to improve your student aid eligibility:student aid eligibility: