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College Goal Sunday January 17, 2009

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Use estimated 2008 income information if taxes are not complete at time of FAFSA submission ... The 2009-2010 FAFSA on the Web Worksheet may be used for the ... – PowerPoint PPT presentation

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Title: College Goal Sunday January 17, 2009


1
Applying for Financial Aid 2009-2010
2
Types of Financial Aid
  • Gift Aid - grants or scholarships that do not
    need to be repaid
  • Work - money earned by the student as payment for
    a job on or off campus
  • Loans - borrowed money to be paid back, usually
    with interest

3
Sources of Financial Aid
  • Federal government (Pell Grant, Academic
    Competitiveness Grant, Supplemental Educational
    Opportunity Grant, etc.)
  • State (Tennessee Student Assistance Award, HOPE
    Scholarship, etc.)
  • Colleges and universities (PAY CLOSE ATTENTION TO
    DEADLINES!)
  • Private agencies, companies, foundations, and
    your parents employers

4
Free Application for Federal Student Aid (FAFSA)
on the Web
  • Web site www.fafsa.ed.gov
  • File as soon as possible after January 1 of each
    year priority deadline for TN is March 1
  • Use estimated 2008 income information if taxes
    are not complete at time of FAFSA submission

5
Personal Identification Number (PIN)
  • Web site www.pin.ed.gov
  • Both student and at least one parent need PIN to
    sign the FAFSA electronically
  • May be used to
  • Check on FAFSA status
  • Verify and correct FAFSA data
  • Add additional schools to receive FAFSA data
  • Change home and e-mail addresses
  • If an e-mail address is provided, PIN will be
    e-mailed to the PIN applicant within hours

6
Getting Ready
  • Before starting the FAFSA, gather
  • Student drivers license
  • Student Alien Registration Card
  • Student and Parent
  • Social Security cards
  • 2008 W-2 Forms and other records of money earned
  • 2008 federal income tax form (even if not
    completed)
  • Records of untaxed income
  • Current bank statements
  • Business, farm, and other real estate records
  • Records of stocks, bonds, and other investments
  • Create a file for copies of all financial aid
    documents submitted

7
FAFSA on the Web Worksheet
  • The 2009-2010 FAFSA on the Web Worksheet may be
    used for the January 1, 2009 through June 30th,
    2010 federal aid application cycle

8
The FOTW WorksheetA Five Section Form
  • Section 1 is about the student
  • Section 2 determines student dependency status
  • Section 3 collects parental information for
    dependent students
  • Section 4 collects student finances and
    information about the independent student
  • Section 5 allows students to list up to ten
    schools to receive information from the FAFSA

9
Section 1(page 2)STUDENT INFORMATION
10
Section 1 Your Last Name

Jones
  • The FOTW will ask for the students first and
    last name as well as a middle initial
  • Make sure to report the students name exactly as
    it appears on the students Social Security card

11
Section 1Your Social Security Number
1 2 3 4 5 6 7 8 9
Double check your Social Security Number when
entering it on the FOTW. Both your name and
Social Security Number will be compared through a
database match
12
Section 1 Citizenship Status
  • If U.S. citizen, status will be confirmed by
    Social Security match
  • If eligible noncitizen, status will be confirmed
    by Department of Homeland Security (DHS) match.
    This includes
  • U.S. permanent residents with I-551
  • Conditional permanent residents with I-551C
  • Eligible noncitizens with I-94
  • If neither a citizen or eligible noncitizen, you
    are ineligible for federal/state aid, but might
    still be eligible for institutional funds

13
Section 1 Alien Registration Number
0 1 2 3 4 5 6 7 8
  • If eligible noncitizen, write in your eight- or
    nine-digit Alien Registration Number (ARN)
  • Precede an eight digit ARN with a zero
  • Copy of Permanent Registration Card might be
    requested by the financial aid office

14
Section 1Citizenship Status
  • NOTE if you are undocumented or
    under-documented
  • if you are applying to any public college or
    university, check to see if you might be eligible
    for in-state tuition costs
  • check with colleges and universities to see if
    institutional financial aid is available
  • apply for all private scholarships for which you
    may be eligible
  • watch for changes in federal and state laws
    regarding the eligibility of undocumented or
    under-documented students
  • start inquiring in elementary, middle or high
    school to see if it is possible for younger
    students to become permanent residents

For more information and a list of scholarships,
go to www.maldef.org/pdf/scholarships.pdf
or www.latinocollegedollars.org
15
Section 1 Your State of Legal Residence

GA
  • Residency relates to your permanent home state
  • if you are dependent, the state of legal
    residence is usually the state in which your
    custodial parents live
  • State of legal residence is also used
  • to determine eligibility for state grants
  • in the need calculation to determine the
    appropriate allowance for state and other taxes
    paid by that states residents

16
Section 1Selective Service Registration
  • Male students who are 18 years of age or older
    must be registered with Selective Service to
    receive federal and state aid
  • Answer Register me only if you are male, aged
    18-25, and have not yet registered. You may also
    register by going to
  • www.sss.gov

17
Section 1Federal Student Aid Question
  • Answer No if you have never received federal
    student grants, federal student loans or federal
    work-study
  • You should also answer No if you have never
    attended college. If you answer No to this
    question, skip question 23

18
Section 1Drug Conviction Question
  • Answer YES if you have been convicted of
    possessing or selling illegal drugs while you
    were receiving federal student financial aid
  • Answer NO if
  • You have no drug-related convictions of any kind
    but simply received student financial aid
    while a college student
  • Conviction was for alcohol or tobacco
  • Conviction was removed from your record or
    occurred before age 18 (unless tried as an adult)

19
Section 1Parents Educational Level
  • Indicate highest level of schooling completed by
    your biological or adoptive parents (for state
    award purposes only)
  • Use birth parents or adoptive parents - not
    stepparents or foster parents
  • This definition of parents is unique to these two
    questions

20
Section 1Degree Objective
  • Indicate your most immediate degree or
    certificate objective for 2009-2010

21
Section 1Your Expected Enrollment Status at the
Start of the
2009-2010 Academic Year
  • Report your enrollment plans for the college you
    are most likely to attend
  • If unsure, report Full-time

22
Section 1Work-Study and Student Loans
  • If you are interested in either work-study
    (student employment) or student loans, or both,
    mark the appropriate box
  • Indicating interest does not obligate you to
    either work or borrow, nor will it cause you to
    lose grants and scholarships
  • Answering neither may restrict some options for
    limited work-study or loan funds

23
Section 2(page 3)STUDENT DEPENDENCY STATUS
24
Section 2 Determination of Student Dependency
Status
25
Section 2 Determination of Student Dependency
Status
26
Section 2 Determination of Student Dependency
Status
  • If you answer no to all questions in this
    section, go to Section 3. For FAFSA filing
    purposes, you are considered a dependent student
    and are required to provide parental information
  • If you answer yes to any question in this
    section, skip Section 3 and go to Section 4. You
    are considered an independent student for FAFSA
    filing purposes and are NOT required to provide
    parental information

27
  • Section 3(page 4)PARENTALINFORMATION

28
Section 3 Parental Information
  • See Page 4 of FAFSA on the Web Worksheet about
    who is considered a parent
  • Biological or adoptive parent(s)
  • Stepparent (regardless of any prenuptial
    agreements)

29
Section 3 Parental Information
  • Do not provide information on
  • Foster parents or legal guardians
  • If the student is in foster care or has a legal
    guardian, he/she is automatically
    considered an independent student
  • Grandparents or other relatives
  • The student must attempt to get
    biological parental information
  • Colleges may use Professional Judgment to allow
    the student to file as independent

30
Section 3Parental Information
  • If the answer to any question is zero or the
    question does not apply, enter 0
  • Report whole dollar figures
  • Recommendation If your parents have not filed
    their 2008 federal tax return, use W-2 forms
    and/or other employment records to estimate total
    income

31
Section 3 Parents Marital Status as of Today
  • Month and Year Your Parents were
    Married, Separated, Divorced, or Widowed

M M Y Y Y Y
32
Section 3 Parent E-Mail Address
PJONES_at_YAHOO.COM
  • Fill in your parents e-mail address that will be
    valid at least until you start college
  • If you provide your parents email address, the
    FAFSA processor will let them know your FAFSA has
    been processed

33
Section 3Fathers and Mothers SSN,
Last Name, and Dates of Birth
2 3 4 5 6 7 8 9 0
JONES
0 5 0 3 1 9 5 9
0 0 0 0 0 0 0 0 0
PARKER
0 7 1 9 1 9 6 0
  • NOTE Provide this information for yourparent(s)
    who complete Section 3 of the worksheet

34
Section 3 Parents State of Legal Residence
GA
M M Y Y Y Y
  • Indicate the two-digit state code for your
    parents permanent address
  • Leave question 74 blank if at least one of your
    parents whose information is used on this form
    began living in the state before January 1, 2004

35
Section 3 Parents Tax Return Filing Status
for 2008
  • Indicate your parents current tax filing status
    for 2008
  • Which tax return did or will your parents file
    for 2008?
  • Even if your parent(s) did not file a 1040A or
    1040EZ, read the instructions to see if they
    would have been eligible to do so
  • The FOTW Web site will ask if your parents have
    completed their 2008 tax return

36
Section 3 Parents Household 2008
Federal Benefits
  • Indicate if you, your parents, or anyone in your
    parents household received benefits in 2007 or
    2008 from any of the federal programs listed

37
Section 3 Parent Dislocated Worker
  • A person may be considered a dislocated worker
    if he or she
  • is receiving unemployment benefits due to being
    laid off or losing a job and is unlikely to
    return to a previous occupation
  • has been laid off or received a lay-off notice
    from a job
  • was self-employed but is now unemployed due to
    economic conditions or natural disaster
  • is a displaced homemaker

38
Section 3 Parent 2008 Adjusted Gross Income
45,250
  • If your parents have not yet filed their 2008
    federal tax return information, it is fine to
    estimate information for these questions
  • If your parents have completed their 2008 federal
    tax return, use 2008 tax return information to
    complete this item. Pay attention to specific
    line-items on 2008 federal tax return, if
    completed
  • Reminder If the answer is zero or the question
    does not apply, enter 0

39
Section 3 Money Earned from Work by
Parent(s) in 2008
45,250
40,500
  • Use W-2 forms and other records to list all
    income in 2008 earned from work (including
    income earned from self-employment)

40
Section 3 Parents Income Tax Paid in 2008
2,130
  • What was the amount your parents paid in income
    tax for 2008?
  • Use U.S. Income tax paid (or to be paid)
  • not the amount withheld from your parents
    paychecks

41
Section 3 Parents 2008 Tax Exemptions
05
  • Enter your parents exemptions for 2008
    Exemptions can be found on their IRS tax return
  • Be sure to include all persons being claimed
    on your parents 2008 federal tax return,
    regardless of whether they are included
    in your parents household size question

42
Section 3 Parents Household Information
for 2009-10
05
  • Include in your parents household
  • yourself
  • your parent(s)
  • your parents other dependent children, if your
    parents provide more than half their support or
    the children could answer no to every question
    in Section 2, regardless of where they live
  • other people, if they now live with your parents
    and will continue to do so from 7/1/09 through
    6/30/10, and if your parents provide more than
    half their support now, and will continue to
    provide support from 7/1/09 through 6/30/10

43
Section 3 Family Members Attending College
in 2009-10
2
  • Always include yourself even if you will attend
    college less than half-time in 2009-2010
  • Include other household members only if they will
    attend at least half time in 2009-2010 in a
    program that leads to a college degree or
    certificate
  • Never include your parents
  • NOTE Some financial aid offices will require
    proof that other family members are attending
    college

44
Section 3 2008 Additional Financial Information
2,500
12,200
Enter the total from this Additional Financial
Information sheet to Question 94 on page 5,
Section 3
45
Section 3 2008 Untaxed Income
1,700
6,200
500
Enter the total from this 2008 Untaxed Income
sheet to Question 95 on page 5, Section 3
46
Section 3 Parent Asset Information
  • List the net value of your parents assets as of
    the day you complete the FAFSA
  • If net worth is one million dollars or more,
    enter
  • If net worth is zero, enter 0
  • NOTE Some financial aid offices may request
    supporting documentation for the answers to these
    questions

47
Section 3 Parent Cash, Savings, and Checking
2,155
  • Report the current balance of your parents cash,
    savings, and checking accounts as of the day you
    complete the FAFSA

48
Section 3 Parent Investments
7,900
  • Net Worth means current value minus debt
  • Investments include
  • real estate (other than parents home)
  • trust funds
  • UGMA and UTMA accounts
  • money market and mutual funds
  • certificates of deposit
  • stocks and stock options
  • bonds and other securities
  • Coverdell IRAs
  • 529 plans owned by parents
  • installment and land sale contracts
  • commodities, etc.

49
Section 3 Parent Business and
Investment Farms
23,600
  • Business/Investment Farm includes
  • market value of land, buildings, machinery,
    equipment, and inventory. Debt means only those
    debts for which the business was used as
    collateral
  • NOTE DO NOT include the home you live in, the
    value of life insurance and parent retirement
    plans (pension funds, annuities, non-education
    IRAs, Keogh plans, etc), or the value of a family
    owned and controlled small business with 100 or
    fewer full-time or full-time equivalent employees

50
Section 4(page 6)STUDENT FINANCES
51
Section 4Student Finances
  • Questions (34 40) are identical to the parent
    financial questions we covered in Section 3
  • In these questions in Section 4
  • Report your 2008 income
  • If you are single, ignore references to spouse
  • If you are married, report spouses income and
    assets

52
Section 4 Student Veterans Education Benefits
  • For more information on Veterans Education
    Benefits, contact the VA at
  • (800) 827-1000
  • or
  • www.va.gov

53
Section 4 Student Finances (Independent Students)
Answer questions (96 103) in Section 4 only if
you answered yes to at least one question in
Section 2 Student Dependency Status
Dependent Students SKIP THESE QUESTIONS
54
Section 4Student Finances (Independent Students)
  • Include in your household
  • you (and your spouse if married)
  • your children, if you will provide more than half
    their support
  • other people, if they now live with you and you
    provide more than half their support, and will
    continue to provide that level of support from
    7/1/09 through 6/30/10

Dependent Students SKIP THIS QUESTION
55
Section 4 Student Finances (Independent Students)
  • Count yourself even if you will attend college
    less that half-time in 2009-2010
  • Include others only if they will attend at least
    half-time in 2009-2010 in a program that leads to
    a college degree or certificate

Dependent Students SKIP THIS QUESTION
55
56
Section 4 Household Federal Benefits
(Independent Students)
  • Indicate if you, your spouse, or anyone in your
    household received benefits in 2007 or 2008 from
    any of the federal programs listed

Dependent Students SKIP THIS QUESTION
57
Section 4 Dislocated Worker (Independent
Students)
  • A person may be considered a dislocated worker if
    he or she
  • is receiving unemployment benefits due to being
    laid off or losing a job and is unlikely to
    return to a previous occupation
  • has been laid off or received a lay-off notice
    from a job
  • was self-employed but is now unemployed due to
    economic conditions or natural disaster
  • is a displaced homemaker

Dependent Students SKIP THIS QUESTION
58
Section 5(middle of page 7)COLLEGES TO RECEIVE
INFORMATION
59
Section 5 School Information
001328
001170
023456
034567
List the schools you are most likely to attend,
and then list others to which you are applying
for admission
60
Section 5School Information
  • List up to ten schools to which you are applying
  • For faster and more accurate processing, write in
    both the Title IV school code and the
    school name
  • Check with each colleges financial aid office,
    your high school counselor, or the U.S.
    Department of Educations website
    (www.fafsa.ed.gov) for a listing of federal
    school codes of the colleges to
    which you are applying
  • Select the housing plan that best describes the
    type of housing you expect to have while
    attending each listed school

61
Special Circumstances
  • Contact the Financial Aid Office if there is
  • Loss or reduction in parent or student income or
    assets
  • Death or serious illness
  • Natural disasters affecting parent income or
    assets
  • Unusual medical or dental expenses not covered by
    insurance
  • Reduction in child support or other untaxed
    benefits
  • Financial responsibility for elderly
    grandparents
  • Any other unusual circumstances that
    affect a familys ability to contribute to
    higher education

62
Student Aid Report (SAR)
  • An electronic SAR will be sent if student
    provides an email address
  • A paper SAR will be mailed if no student e-mail
    address is provided
  • An electronic copy of the data will be sent to
    each college or university listed by the student
    in Section 5
  • Keep a copy of the SAR with other financial aid
    documents

63
Summary of the Financial Aid Process
  • Submit all required forms, including the FAFSA,
    by each colleges published deadlines
  • Priority deadline for TN is March 1
  • Keep a copy of all forms submitted
  • Review the electronic Student Aid Report (SAR)
    Acknowledgement or the paper SAR sent to the
    student
  • Watch for financial aid award notifications from
    colleges to which the student has been admitted
  • Be sure to apply for financial aid this year and
    every year as soon as possible after January 1 to
    receive the best financial aid award possible
  • ASK QUESTIONS!

64
State Grant
  • Tennessee Student Assistance Award
  • Up to 2,322 at eligible TN public institutions
    up to 4,644 at eligible TN independent
    institutions
  • TN residents, U.S. citizens pursuing first degree
    and enrolled at least half-time
  • Submit FAFSA prior to March 1

65
TELS Program
  • HOPE Scholarship
  • 4,000 per year at eligible four-year TN
    institutions 2,000 per year at eligible
    two-year TN institutions
  • TN residents achieving 21 ACT composite OR 980
    SAT (Math Critical Reading) OR final cumulative
    3.0 GPA (Homeschool and non-category 1, 2 or 3
    private high school requirements are different)
  • Submit FAFSA

66
TELS Program cont.
  • General Assembly Merit Scholarship (GAMS)
  • 1,000 supplement to HOPE Scholarship
  • 29 ACT composite/1280 SAT (Math Critical
    Reading) AND final cumulative 3.75 GPA
  • Students may receive either GAMS or Aspire Award,
    but not both

67
TELS Program cont.
  • Aspire Award
  • 1,500 supplement to HOPE Scholarship
  • Parents or independent students (and spouses)
    adjusted gross income must be 36,000 or less on
    IRS tax form
  • Students may receive either Aspire Award or GAMS,
    but not both

68
TELS Program cont.
  • HOPE Access Grant
  • 2,750 per year at eligible four-year TN
    institutions 1,750 per year at eligible
    two-year TN institutions
  • 18, 19 or 20 ACT composite/860-970 SAT (Math
    Critical Reading) AND 2.75 - 2.99 final
    cumulative GPA AND parents or independent
    students (and spouses) adjusted gross income
    must be 36,000 or less on IRS tax form
  • Nonrenewable after 24 attempted hours however,
    may qualify for HOPE Scholarship thereafter

69
TELS Program cont.
  • Wilder-Naifeh Technical Skills Grant
  • 2,000 per year at TN Technology Center (TTC)
  • TN residents pursuing certificate or diploma
    program at TTC
  • Students may be eligible for HOPE Scholarship IF
    initially HOPE eligible and enroll at an eligible
    TN postsecondary institution within three years
    of completing a TTC diploma program

70
TELS Program cont.
  • HOPE Scholarship for non-traditional students
  • Dual Enrollment Grant
  • HOPE Foster Child Tuition Grant
  • Helping Heroes Grant

71
State Programs
  • Ned McWherter Scholars Program
  • 6,000 per year at eligible TN institutions
    highly competitive (50 awardees last year)
  • TN residents, U.S. citizens achieving 29 ACT
    composite/1280 SAT (Math Critical Reading) AND
    3.5 GPA
  • Application available at www.CollegePaysTN.com
    application and 7th semester transcript must be
    received by TSAC no later than February 15

72
State Programs cont.
  • Robert C. Byrd Honors Scholars Program
  • Award amount based on federal funding (1,500
    last year) attend any U.S. accredited
    institution except military academies random
    selection (125 awardees last year)
  • TN residents, U.S. citizens/permanent residents
    with 3.5 GPA OR 3.0 - 3.49 GPA AND 24 ACT
    composite/1090 SAT (Math Critical Reading)
  • Application available at www.CollegePaysTN.com
    application must be received by TSAC no later
    than March 1

73
State Programs cont.
  • Dependent Children Scholarship Program
  • Minority Teaching Fellows Program (Loan
    Forgiveness)
  • TN Teaching Scholars Program (Loan Forgiveness)
  • TN Math Science Teacher Loan Forgiveness
    Program
  • Graduate Nursing Loan Forgiveness Program
  • Rural Health Loan Forgiveness Program

74
Questions and Answers
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