What YOU Need to Know About YOUR FINANCIAL AID at SF State!!

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What YOU Need to Know About YOUR FINANCIAL AID
at SF State!!

• NANCY JODAITIS
• Financial Aid CounselorScholarship Specialist/AB
  540 Counselor
• San Francisco State University

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FAFSA CA DREAM FACTS

• Students HAVE to Apply Every YEAR!
• Should Complete in January or February (Prior to
  March 2nd)
• Recommended to Sign Application with P.I.N.
• Completing Application is only the First Step
  
• Financial Aid Eligibility is Based Primarily on
• 2014 Income Investments
• 2015 Household Size
• If Household Income Changes, Contact the
  Financial Aid Office after June 2015 to determine
  steps/paperwork necessary to review eligibility
  for need-based aid.

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How Does My Financial Aid Get Calculated???
Cost of Attendance - Estimated Family Contribution (EFC) Financial Need
Registration Fees Room Board Books Supplies Transportation Personal Expenses Total Cost of Attendance Student Contribution Parent Contribution Estimated Family Contribution The calculation of the EFC is based on the information submitted on the FAFSA, such as income and investments Determines the eligibility of the student for Federal State Financial Aid (Grants, Loans, Workstudy Scholarships)
Financial Aid Offer
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What Does Financial Aid Pay For??

• Tuition (paying your classes, gym, health
  clinic, student services fun activities!)
• Where You Live (at home, in the dorms, your own
  apartment)
• School Books Supplies
• How You Get Back Forth to School (BART, bus,
  car parking costs, bike, walk)
• Personal Expenses (Educational Related Costs)

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THINGS Financial Aid Usually Doesnt Cover

• Housing Deposit (due with License)
• Books Options Before First Disbursement
• SF State Program BayBucks
• Project Connect Book Loan Program
• Financial Aid CANNOT Release Until One Week
  Before School Starts Each Semester.

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How FINANCIAL AID Works

• WHEN School Begins, If Financial Aid is ALL IN
  ORDER
• comes to the School
• Tuition Other Fees (Dorms, etc) are DEDUCTED
• BALANCE Goes to STUDENT and/or
  PARENT
• OR
• Student pays OUTSTANDING Fees
• Prior to First Day of Classes or Stated
  Deadline

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GRANTS Free to STUDY!

• Federal Grants
• Pell
• SEOG
• State
• Cal Grants A B
• State University (CSU)
• EOP Grant

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Federal STUDENT LOANSinterest rates subject to
change on July 1, 2015

• Subsidized Loans
• Govt Pays Interest While Youre in School
• 4.66 Interest
• Maximum Amount Freshmen 3,500
• Sophomores 4,500 Juniors/Seniors 5,500
• UNSubsidized Loans
• Interest Accrues While Youre in School We
  recommend you pay interest its tax-deductible
• 4.66 Interest
• Maximum Amount for Dependents 2,000

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Federal PARENT LOANSinterest rates subject to
change on July 1, 2015

• Based on CREDIT 7.21 Interest Rate
• Parent Must complete ALL three steps AFTER July
  1st
• 1) SF State Parent Plus form 2) Apply at
  studentloans.gov 3) Complete Master Promissory
  Note
• Parent Must Be APPROVED based on credit
• Interest Accrues While Student Is in School
• Maximum Loan Amount Difference Between Student
  Financial Aid Cost of Attendance
• If Parent Declined, Student Can Increase
  Unsubsidized Loan 4,000 Contact School for
  Instructions

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FEDERAL WORK STUDY

• Need-Based Aid that You EARN
• Great Option for PT job at School
• Get Connected to Staff/Faculty on Campus
• Can Work as a Tutor with America Reads
• Work-study is not counted as income on FAFSA if
  listed on next years applicationStudents
  ineligible for federal work-study can also seek
  employment as Student Assistants

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Cost of ATTENDANCE orESTIMATED COSTS for SF
State

• 2015-16 SF State
• Tuition 6,468
• Room Board 13,434
• Books Supplies 1,860
• Transportation 1,486
• Personal Expenses 1,392
• TOTAL 24,640
• COA is found on your award letter financial
  aid website

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MARCH 2ND !!!

• REALLY!

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College Student Undergraduate Federal/State
Financial Aid Programs
WORK STUDY Financial assistance earned by a student through employment. GRANTS Financial aid that does not have to be repaid. LOANS Money loaned to students. Repayment begins after student has left college.
Federal Work Study Up to 4,000 Pell 555 - 5,865 Perkins 1,000 per year
SEOG Up to 500 Stafford/Federal Direct Loan Subsidized Unsubsidized. 5,500 - 7,500 per year
Cal Grant A 5,472
Cal Grant B 7,120 LOANS TO YOUR PARENTS
EOP Grant Up to 800 Parent Plus Loan Up to 24,640 at SF State
University Grant 5,472 IF Denied Up to 4,000 for student
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For CAL GRANTSwww.csac.ca.govCreate an
account at WebGrants4Students
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Check your CAL Grant status and Make SURE the
Proper School is Listed
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Becoming an AB 540 Student

• Allows certain categories of non-resident
  students to pay in-state tuition fees
• Must file AB 540 affidavit present official CA
  high school transcripts to be exempt from non-
  resident fees
• Requires 3 Years of CA HS or primary school and
  Graduate from CA High school or Equivalent
• Applies to Citizens Non-Citizens
• www.sfsu.edu/finaid/ab540

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Where Do I Get INFO/HELP with My Financial
Aid??

• FAFSA www.fafsa.ed.gov
• CA Dream Application
  www.caldreamact.org
• SF State Financial Aid Website
• www.sfsu.edu/finaid
• SF State Gateway Student Center
  www.gateway.sfsu.edu

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Figure out YOUR Budget Do You NEED LOANS?

• Tuition Has to Be Covered FOR SURE!
• Books Project Connect Book Loan? Rental?
  Half.com?
• Transportation (Plane, Train, Car or Bus Pass)
• Example BART from Fremont to Daly City 12
  Roundtrip
• School 3xs week 36 for 15 weeks 540 per
  SEMESTER!!
• Dorms or Housing HOW MUCH is IT? Monthly
  Payment Plan? Do You Have to Pay a Deposit?
• Personal Expenses Educational Expenses,
  Computer, etc.

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USE the Per Semester Budget Worksheetwww.sfsu.e
du/finaid
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Financial Aid Office at SF State

• Experienced Counselors Available
• Visit or Call with Questions BE
  PROACTIVE!
• OneStop, Student Services Building,
  Monday-Friday 900-500
• By Phone M-F 900 to 430 415.338.7000
• Via email finaid_at_sfsu.edu

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Key Times to Check Financial Aid Status

• FAFSA or DREAM website
• Check Two Days After Applying
• SF State Student Center gateway.sfsu.edu
• March Income Verification or Documents
• Mid-April To View Award
• PRIOR to Your Student Orientation
• Right Before Fee Payment Deadlines
• Fall Early July Mid August for Fall
• Just Before Classes Begin

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Student Center TO DO List
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To Do List Income Verification
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Verifying Your Income

• Students are randomly selected by FAFSA or DREAM
  to verify household income and family size
• Student/Parent completes Income Verification
  Sheets AND
• USES the Data Retrieval Tool at www.fafsa.ed.gov
  OR
• SUBMIT Tax Return TRANSCRIPT from IRS, if
  student or parent cannot use data retrieval tool
• 1040 TAX RETURNS ARE NOT ACCEPTED!

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15-16 Dependent Student Verification Form
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Verification of Family Household Size
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Parents Who are Tax Filers
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Parents Who Dont File Taxes
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Student Tax Information
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The IRS Data Retrieval Tool is accessible through
the FAFSA website
http//www.fafsa.ed.gov
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Financial Information Section of FAFSA
How the questions under the Financial
Information section are answered, determines
whether you can use the tool. Data Retrieval
Tool is AVAILABLE for BOTH Parents Students
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LINK TO IRS

• If you are eligible to use the IRS Data Retrieval
  Tool, you will be prompted to
• Enter your FAFSA Pin
• Number
• 2. Select Link to IRS

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FAFSA IRS Data Link

• After you are connected to the IRS.gov website
• Review your tax information for accuracy
• Select the appropriate box below.
• Select Transfer Now.
• You will then be returned to the FAFSA website.
• Your Data will now be transferred to your FAFSA

You MUST sign with FAFSA PIN resubmit your
FAFSA to complete the process.
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Print Tax Return Transcriptfrom www.irs.gov
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VIEWING Your Financial Aid AWARD Student Center
www.gateway.sfsu.edu
Will BE Available to VIEW in Mid to Late APRIL
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MOST Common Reasons Financial Aid Award Could be
Delayed

• Not Formally Admitted to the School
• Invalid FAFSA Discrepancy with Name, Date of
  Birth and/or Social Security Number
• Financial Aid File is INCOMPLTE
• Didnt sign FAFSA or DREAM App
• Specific Documentation Needed (Foster Youth,
  Marriage or Birth Certificate, etc. )
• Selected for Income Verification

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Account Summary Balance DUE
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Students Receiving Financial Aid Have a SPECIFIC
Deadline to Pay FEES
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Handle Your BUSINESS!!

• Check your Financial Aid Status at
  www.gateway.sfsu.edu
• SHARE Responsibility between Parent Student to
  ensure everything is in order.
• BUDGET Your Money!
• Take Advantage of all Resources Available!
• Ask for Help if you Need it!

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SCHOLARSHIPS

• Looking for Scholarships
• Scholarships for Grades, Community Service, Your
  Major, Geographic Area, Ethnicity MORE!
• Apply for AS MANY AS POSSIBLE!
• Apply Early Majority of Deadlines are Jan June
• Use a Scholarship CHART

• Writing the Essay
• Tell Your Story!
• One Good Essay can be the Base!
• Write Re-Write Your Essay!
• Work Your Chart!

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Scholarship Website
www.sfsu.edu/finaid/scholarships

• Campus Scholarships
• Outside scholarships

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Campus Scholarships SF State ONLY
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Getting Started Campus Scholarships

• Sign in with your SF State ID Password
• Complete General Application to START

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External Scholarships Private/ Community
Scholarships
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SCHOLARSHIP CHART TO ORGANIZE YOUR EFFORTS
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Make A Friend In Financial AID!!

• SF State Office of Student Financial Aid
• OneStop, Student Services Building,
  Monday-Friday 900-500
• By Phone M-F 900 to 430 415.338.7000
• Via email finaid_at_sfsu.edu