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2007 High School Counselor Drive In Workshop

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Title: 2007 High School Counselor Drive In Workshop Author: Bill Henderson Description: Orig. 2003 BH Last modified by: John Whitt Created Date: 9/30/2003 9:09:13 PM – PowerPoint PPT presentation

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Title: 2007 High School Counselor Drive In Workshop


1
2007 High School Counselor Drive In Workshop
2
My College
  • Welcomes You
  • Todays Presenters

3
Workshop Coordinated By
  • Wisconsin Association of Student Financial Aid
    Administrators (WASFAA)
  • Wisconsin Higher Educational Aids Board (HEAB)
  • Wisconsin Department of Public Instruction (DPI)
  • Wisconsin Educational Opportunity Programs (WEOP)
  • Great Lakes

4
Todays Agenda
  • 800 830 Registration
  • 830 845 Welcome
  • Review of Agenda and Packet Materials
  • College Goal Sunday
  • 845 945 Financial Aid Fundamentals
  • 945 1000 Break
  • 1000 1030 HEAB Update
  • 1030 1100 DPI Update
  • 1100 1200 Special Topics

5
College Goal SundayFebruary 10, 2008 200
400 p.m.
  • College Goal Sunday is a statewide event that
    will offer free assistance to families in
    completing the Free Application for Federal
    Student Aid (FAFSA)
  • Volunteer forms, marketing materials and
    additional information can be found on the
    website
  • Scheduled at 20 sites throughout Wisconsin

www.WiCollegeGoalSunday.org
6
College Goal SundayComing to a Location Near
You!!!
Appleton Fox Valley Technical College Green Bay (2 sites) Boys Girls Club, East Boys Girls Club, West Platteville Platteville High School
Ashland Northland College Kenosha Gateway Technical College Racine Gateway Technical College
Beloit Beloit Turner HS La Crosse Viterbo University Rhinelander Rhinelander High School
Eau Claire Chippewa Valley Technical College Madison (2 sites) Edgewood College MATC-Truax Campus Sheboygan UW-Sheboygan
Fond du Lac Marian College Milwaukee (4 sites) Milwaukee HS of the Arts Pulaski High School Riverside High School Rufus King High School Wausau Northcentral Technical College
7
FINANCIAL AID FUNDAMENTALS
8
Financing Your Education
  • What is the goal of financial aid?
  • How is financial need determined?
  • How do I apply?
  • What aid is available?
  • What is the role of the financial aid office?

9
Goal of Financial Aid
  • To assist students in paying for college.
  • To provide opportunity and access to higher
    education.

10
Basic Principles of Financial Aid
  • The family has primary responsibility for
    financing postsecondary education.
  • Financial aid is the BRIDGE.

11
Principles of Needs Analysis
  • To the extent they are able, parents have primary
    responsibility to pay for their dependent
    childrens education.
  • Students also have a responsibility to contribute
    to their educational costs.
  • Families should be evaluated in their present
    financial condition.
  • A familys ability to pay for educational costs
    must be evaluated in an equitable and consistent
    manner, recognizing that special circumstances
    can and do affect a familys ability to pay.

12
Financial Aid Regulations
  • Are determined by federal and state statutes and
    legislators
  • Establish your eligibility for most types of aid
  • Apply to all schools

13
What Are the Costs?
  • Tuition and Fees
  • Room and Board
  • Transportation
  • Books Supplies
  • Miscellaneous Living Expenses
  • Cost of Attendance (COA)

14
Expected Family Contribution (EFC)(Federal
Methodology established by U.S. Congress)
  • Determined by filing the FAFSA
  • www.FAFSA.ed.gov

15
Main Determinants of the EFC
  • Income
  • Assets
  • Family size
  • Number in College
  • Age of the older parent

Adjustments to EFC may be made due to
Verification and/or Special Circumstances that
limit ability to pay
16
Expected Family Contribution (EFC)
  • Is the sum of four separate calculations
  • Contribution from Parental Income
  • Contribution from Parental Assets
  • Contribution from Student Income
  • Contribution from Student Assets

17
Financial Need Defined
  • Cost of Attendance (COA)
  • Expected Family Contribution (EFC)
  • Financial Need

18
Middle Income Student
  • Family Size 4
  • Number in college 1
  • Parent AGI 68,400
  • Parent Untaxed Income 3,500
  • Parents Assets 45,000
  • Students AGI 4,500
  • Students Assets 3,000
  • Parents Contribution 8,895
  • (Parents Contribution from Assets 0)
  • Students Contribution 978
  • (Student Income Contribution 378)
  • (Student Contribution from Assets 600)
  • Expected Family Contribution 9,873
  • (Note 2007-2008 FM formula used)

19
Financial Need Varies By School Cost
20
Financial Need Varies by School Cost
1 2 3
Cost 27,394 17,425 12,056
Less EFC 9,873 9,873 9,873
Need 17,521 X 7,552 Y 2,183 Z
21
You may be eligible for aid, but..
  • YOU MUST APPLY TO FIND OUT!
  • And its free!
  • File the FAFSA each year.
  • www.FAFSA.ed.gov

22
Application Process
  • Apply for PIN through Department of Education
  • Submit the Free Application for Federal Student
    Aid (FAFSA) prior to your schools deadline
    (paper or electronic)
  • Submit any institutionalapplication
    materials(if required by your school)
  • Attain admission status
  • Make sure to meet allrequired deadlines!

23
Free Application for Federal Student Aid
  • Collects familys personal and financial
    information used to calculate the EFC
  • May file the FAFSA in one of two ways
  • FAFSA on the Web
  • Paper FAFSA

www.FAFSA.ed.gov
24
What is a PIN? www.pin.ed.gov
  • Personal Identification Number
  • Students and parents can get PINs
  • Electronic signature for FAFSA on the Web
  • PIN delivery
  • Real time online
  • By regular mail in 7-10 days
  • Can also be used for
  • Renewal on the Web
  • Corrections on the Web
  • National Student Loan Database
  • Signing promissory notes for student/parent loans
    (Perkins, Stafford, PLUS)

25
Application Processing Flowchart
college
1
college
2
CENTRAL
FAFSA
STUDENT
PROCESSING
college
SYSTEM
3
college
SAR
4
EFC
college
5
college
Data
6
Wisconsin Higher
base
Educational Aids
Match
Board (HEAB)
26
CSS /PROFILE (used by some private schools)
  • Collects additional data colleges need
  • Targets non-federal funds
  • Financial need (ability to pay) vs. federal
    eligibility (EFC)
  • Supports Institutional Methodology (IM) as well
    as Federal Methodology (FM)
  • Supports early estimates/early admission

27
Timelines
  • The earliest a student can file the FAFSA for the
    2008-2009 academic year - January 1, 2008.
  • Check with the colleges at which the student
    plans to apply for institutional deadlines and
    requirements.
  • Failure to apply early may result in less aid
    even if eligible.
  • Students must re-apply for aid every year.
    Renewal notification is sent to students towards
    the end of each calendar year.

28
What is Financial Aid?
  • Scholarships
  • Grants
  • Loans
  • Employment opportunities

29
Three primary sources of funding
  • US Department of Education
  • The federal agency that provides college funding
    in the form of grants, scholarships and loans.
  • State
  • Most states have agencies that administer state
    scholarship and grant programs, college savings
    and prepaid tuition programs, and loans. The
    Higher Educational Aids Board (HEAB) manages
    state aid in Wisconsin.
  • Colleges Universities
  • Schools may offer their own scholarship, grant,
    work-study and loan programs, with each college
    setting its requirements.

30
Gift Aid (FREE )
  • Grants Scholarships
  • Federal (Administered by schools)
  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity
    Grant (SEOG)
  • Academic Competitiveness Grant (ACG)
  • National SMART Grant
  • State (Administered by HEAB, DPI-WEOP Schools)
  • Institutional (Endowment funds from Schools)
  • Private (Various outside organizations)

31
Academic Competitiveness Grant (ACG)
  • First year grant is 750
  • For students who will be new freshman in 2008-09
    the following criteria are required
  • U.S. Citizen AND
  • Enrolled in a 2 or 4-year program AND
  • Pell eligible AND
  • Full Time AND
  • Graduated from high school after 1/1/2006 AND
  • Completed a rigorous high school curriculum as
    defined by the state
  • Second year grant is 1300
  • Same criteria as above AND
  • Must have a minimum 3.0 GPA AND
  • Graduated from high school after 1/1/2005

32
National Science and Mathematics Access to Retain
Talent (SMART) Grant
  • Up to 4000 in 3rd and 4th years of undergraduate
    study
  • Eligibility requires include
  • U.S. Citizen
  • Pell Eligible
  • Full Time
  • 3.0 Cumulative G.P.A.
  • Enrolled in an eligible program of study
  • Computer Science, Engineering, Critical Foreign
    Languages, Life Sciences, Mathematics, Physical
    Sciences, Technology, or Multidisciplinary
    Studies

33
ACG/SMART Grant Information
  • Academic Competitiveness Grant (ACG)
  • http//www.fsa4counselors.ed.gov/clcf/AcademicGra
    nts.html
  • National Science and Mathematics Access to Retain
    Talent (SMART) Grant
  • http//www.fsa4counselors.ed.gov/clcf/SmartGrants
    .html

34
Wisconsin Covenant
  • Goal Make sure that every Wisconsin 8th grader
    knows that higher education is an option if they
    are willing to work hard during high school.
  • Students pledge to graduate, maintain at least a
    B average, take classes that prepare them for
    higher education, and be good citizens.
  • Students who fulfill the pledge are guaranteed a
    place in a Wisconsin college or university and a
    financial aid package based on the familys
    financial need that helps make college more
    affordable.
  • Students in the Class of 2011 were the first to
    sign the Wisconsin Covenant Pledge.
  • Wisconsin Covenant Students will apply for
    financial aid in the same way that other students
    do.

35
Wisconsin Covenant
  • For more information
  • www.WisconsinCovenant.wi.gov
  • Contact
  • Office of the Wisconsin Covenant
  • PO Box 7869
  • Madison, WI 53707
  • 608-267-9389
  • WisconsinCovenant_at_wi.gov

36
Self-Help Aid
  • Employment (must be earned as wages)
  • Federal Work-Study
  • Institutional Work-Study Programs
  • Off Campus employment
  • Loans (must be repaid with interest)
  • Federal Perkins Loan
  • Federal Stafford Loans (school determines the
    loan program)
  • Federal Family Education Loan (FFEL) Program
  • William D. Ford Federal Direct Loan Program
  • Federal PLUS Loan (Parents)
  • State Loans
  • Institutional Loans
  • Private-Alternative Loans

37
Why Get A Federal Student Loan?
  • You dont have to repay until you leave school
  • Lower interest rates than private loans or credit
    cards
  • Credit record is not needed
  • Cosigner is not required

38
Loan Comparison Chart
Federal Perkins Loan Federal Stafford Loan (subsidized unsubsidized) Federal PLUS Loan Private Alternative Loan
Borrower Student Student Parent Student
Cosigner None None Only if poor credit Probable
Credit check No No Yes Yes
FAFSA required Yes Yes Recommended Recommended
Interest Rate 5 Fixed 6.8 Fixed 7.9 (Direct) Fixed 8.5 (FFELP) Fixed Variable
Fees None Origination Fee Default Fee may apply (up to 2.5) Origination and Default Fees apply (up to 4) Vary by loan program and credit rating
Loan Limits Determined by school based on need and available funds 1st year - 3500 2nd year - 4500 3 years - 5500 Graduate - 8500 Cost of Attendance less Aid Cost of Attendance less Aid
Repayment 9 months after leave school or drop below ½ time 6 month after leave school or drop below ½ time 60 days after fully disbursed Check with lender
Borrower Benefits Not Applicable Check with lender Check with lender Check with lender
39
PLUS vs. Private Alternative Loan
FEATURE FEDERAL PLUS LOAN ALTERNATIVE LOAN
Interest Rate Fixed, capped at 7.9 for Direct and 8.5 for FFELP. Variable, usually no cap many programs reset quarterly.
Current Interest Rate May be lower depending upon lenders borrower benefits. Varies from lender to lender based on credit. Interest can range from 3-18.
Borrower Parent. Loan is in parents name. Student. While loan is in students name, usually parent is included as a cosigner. Cosigner bears equal responsibility for loan repayment and loan will appear on parents credit bureau report as well.
Loan Amounts Up to cost of students education minus other financial aid. Minimum and maximum borrowing limits vary from lender to lender. Some alternative loans have limits that may not cover the total amount you need.
Cancellation Loan forgiven if student or parent dies. Not usually discharged if student dies.
Interest Accrual Parent may postpone payments up to 4 years interest accrued during postponed period is capitalized. Parents may also choose to make interest-only payments while student is in school. Interest accrues while student is in school. Some programs require student to make minimum monthly payments or interest-only payments while in school. If deferred, repayment usually begins 6 months after student graduates or leaves school.
Deferment/Forbearance Deferment and forbearance options available. Varies from lender to lender. Check with lender for availability.
Qualifying Based on credit history debt-to-income is not considered, thus making it easier to qualify. Varies from lender to lender, but often debt-to-income ratio is considered in credit decision.
Ease of Application Very easy. Parents can get pre-approved and/or apply by fax, telephone, or on-line. Usually more difficult. Supporting documentation generally required (proof of income, co-borrower addendum, etc.).
Fees Typically 3 origination fee. May be less depending on lender. Fees vary from lender to lender. May include origination and/or repayment fees. Fees can be as high as 16 or higher.
Repayment Term 10 years. Varies among lenders. Typically, 10-25 years.
Consolidation Can be consolidated in a Federal Consolidation Loan. Cannot be added to a Federal Consolidation Loan.
40
How to Evaluate and Choose a Lender
  • Interest rates and terms some lenders offer
    better terms or discounts
  • Front End Benefits awarded on or before
    repayment
  • Origination Fee waivers
  • Default Fee waivers
  • Back End Benefits awarded after the loan is in
    repayment
  • Electronic debiting incentives
  • Interest rate reductions
  • Loan principal reductions
  • Borrower benefits may have specific eligibility
    requirements
  • Loan application processes
  • Can you apply online?
  • Is instant approval offered?
  • Repayment plans
  • Customer service
  • Toll free numbers during convenient hours
  • Website
  • Ability of lender to service all of your loans
  • Carefully evaluate terms and conditions of loan
    options available via the Financial Aid Office,
    from direct mail, etc.
  • Before borrowing, think about your ability to
    make the monthly payment when you leave school
  • Borrowers are free to choose any participating
    lender
  • Borrow only what is needed for direct educational
    expenses and avoid borrowing funds for
    discretionary spending

41
How to Compare College Financial Aid Offers
  • Start with tuition, fees, room and board
  • Subtract grant and scholarship offers only
  • The difference is your net cost
  • Always compare net cost
  • Do not subtract Federal Work Study as a lump sum
    disbursement as students are paid for hours worked

42
Award Package Comparison
School? 1. 2. 3.
Cost of Attending? (Includes?)
Expected Family Contribution (EFC) from FAFSA/SAR?
Need (Cost-EFC)?
Aid Package
Gift Aid Grants Scholarships 1. Renewable? Renewable? Renewable?
2. Renewable? Renewable? Renewable?
Work Sources
Loans (Type and Interest rate)
1. ( )
2. ( )
Unmet Need (Cost EFC- Aid)
43
Other Financing Options
  • School Payment Plans (spread over several months)
  • Home Equity Loans (longer repayment, tax
    deductible)
  • Life Insurance Policy Loans
  • Pension Plan Loans
  • 529 Plan withdrawals
  • Wisconsin Tuition Remission for Vets

44
Need versus Merit Aid
  • Aid based on financial need
  • Most government grants
  • Subsidized student loans
  • Perkins loans
  • Federal Work-Study
  • Aid based on merit
  • Academic and athletic scholarships
  • Some government grants
  • Some scholarships require merit and need

45
Government Resources
  • Corporation for National and Community Service
  • Veterans benefits and tuition waivers
  • ROTC Scholarships and/or stipends
  • Bureau of Indian Affairs (BIA) Grants
  • State Divisions of Vocational Rehabilitation
    (DVR)
  • Health and Human Services Loan and Scholarship
    Programs

46
Other Sources of Funds
  • Parental Affiliations
  • Employers Labor Unions
  • Religious and Community Organizations
  • Clubs and Civic groups
  • Civic organization scholarships
  • High School
  • Local Public Library
  • Private business scholarships

47
FREE Scholarship Services
48
Role of the Financial Aid Office
  • Answers your questions
  • FERPA restrictions
  • Determines financial need eligibility for various
    types of financial aid
  • Verifies applicant data when required
  • Develops policy and procedures to distribute aid
  • Packages aid from all available sources
  • Sends award notification letters/e-mails with
    information on
  • Costs
  • Amount awarded from each aid program
  • How and when aid will be disbursed
  • Terms and conditions of students award

49
Role of the Business Office
  • Calculates tuition, meals and other fees
  • Sends billing statements
  • Credits financial aid to the students account
  • Sets up payment plans, if available
  • Processes student checks
  • Returns financial aid funds that are unearned
  • Collects payments for charges on students
    account
  • Sends out 1098T for tax purposes

50
Sample Questions for the Financial Aid Office
  • 1) What is the average cost for the first year?
    Estimates for future years?
  • 2) Does applying for aid affect the admission
    decision?
  • 3) What type of aid does the school have?
    Need-based or Merit?
  • 4) What applications, besides the FAFSA, are
    needed to apply for aid?
  • 5) What is the priority deadline date for all
    types of financial aid?
  • 6) When will I be notified about a financial aid
    award?
  • 7) How does the aid package normally change from
    year to year?
  • 8) What are the conditions of the aid package?
  • 9) Is there an opportunity to appeal if the
    package isnt enough?
  • 10) How does the college bill for tuition, fees,
    etc.?
  • If you have any other questions or concern
    aboutthe financial aid process, contact the
    financial aidoffice at your school. Your
    FinancialAid Administrator is there to help.

51
Return on Educational Investments
52
Questions?????
53
BREAK
54
State of WisconsinHigher Educational Aids Board
55
Financial Aid is a
  • Shared Responsibility
  • Students
  • Parents
  • State and Federal Governments
  • Private Sources

56
Goals of State Financial Aid
  • Eliminate financial barriers and ensure
    educational opportunity for all Wisconsin
    citizens consistent with their individual
    abilities, interests, and ambitions.
  • Support educational diversity by allowing
    students freedom to choose among the various
    educational offerings.

57
Who May Receive State Aid?
  • State financial aid is available to residents of
    the State of Wisconsin enrolled at non-profit
    colleges and universities based in Wisconsin
  • University of Wisconsin System
  • Wisconsin Technical Colleges
  • Independent Colleges Universities
  • Tribal Colleges

58
Who May Not Receive State Aid?
  • State statutes prohibit students from receiving
    state financial aid who are
  • Not registered with Selective Service
  • Listed on the Dept. of Workforce Developments
    statewide Child Support Lien Docket
  • Students on the Lien Docket may still receive
    state loans

59
Applying for State Aid
  • Free Application for Federal Student Aid
  • HEAB receives FAFSA data for all Wisconsin
    residents.
  • The FAFSA is the only application for Wisconsin's
    2 major grant programs
  • Wisconsin Higher Education Grant
  • (UW, Technical Colleges, Tribal Colleges)
  • Wisconsin Tuition Grant
  • (Independent Colleges Universities)

60
State Financial Aid Programs
  • Programs for Students with Financial Need
  • Student must file the Free Application for
    Federal Student Aid (FAFSA)
  • Wisconsin Higher Education Grant
  • Wisconsin Tuition Grant
  • Programs for Students with Financial Need who
    must also meet Additional Requirements - FAFSA
    and additional Application or Nomination
  • Hearing Visually Handicapped Student Grant
  • Indian Student Assistance Grant
  • Minority Undergraduate Retention Grant
  • Nursing Student Loan
  • Talent Incentive Program Grant
  • Programs Not Based on Financial Need - Do not
    require the FAFSA
  • Academic Excellence Scholarship
  • Minnesota-Wisconsin Tuition Reciprocity Program
  • Minority Teacher Loan
  • Teacher of the Visually Impaired Loan

61
Academic Excellence Scholarship (AES)
  • Awarded to Wisconsins top high school seniors
    who are Wisconsin residents and are US citizens
    or permanent US residents.
  • Earned by the high school senior with the highest
    cumulative grade point average in the class at
    the end of the fall semester of senior year.
  • Up to 2250 per year, for up to four years,
    toward tuition at participating Wisconsin
    colleges or universities. HEAB notifies the
    college of the students AES award, and the
    college and HEAB jointly disburse the money and
    apply it directly to the tuition.
  • Certificates are sent to the high schools for
    your AES winners. Alternates do not receive
    certificates.
  • The number of Academic Excellence Scholarships
    that may be awarded per school is based on
    student enrollment, as shown in the following
    table
  • Enrollment Number of Scholarships
  • 1-79 total of 10 available
  • 80-499 1
  • 500-999 2
  • 1000-1499 3
  • 1500-1999 4
  • 2000-2499 5
  • Over 2500 6
  • HEAB determines the number of scholarships for
    each school based on Department of Public
    Instruction fall enrollment reports. Contact HEAB
    if you believe your number of scholarships is
    inaccurate.

62
AES High School Timeline
  • JANUARY
  • High schools receive forms, instructions,
    notification of number of scholarships available
    for individual schools (based on school
    enrollment), and a copy of the State of Wisconsin
    Statutes and Rules which pertain to the AES.
  • FEBRUARY 15
  • By February 15th of each school year the school
    board shall designate the Academic Excellence
    Scholar(s). These designations are final.
  • MARCH 1
  • High school counselors must submit nomination
    forms, with the names of the Academic Excellence
    Scholars and alternates, to HEAB no later than
    March 1.
  • MARCH
  • Academic Excellence Scholarship recipients are
    contacted by HEAB asking them to verify their
    intent to accept the scholarship, and asking
    which participating school they plan to attend.
  • HEAB begins the alternate selection process.
  • MAY
  • HEAB sends AES certificates to high schools for
    presentation to the scholars. Alternates do not
    receive certificates.
  • Contact Nancy Wilkison, HEAB Grant Specialist,
    for any questions about AES.
  • Email nancy.wilkison_at_wisconsin.gov Phone
    (608) 267-2213

63
AES Tips for Guidance Counselors
  • The scholarship recipient(s) you list should be
    the student(s) with the highest cumulative GPAs
    at the end of the fall semester of senior year,
    regardless of whether or not they plan to accept
    the Academic Excellence Scholarship.
  • Your districts are required to have a
    tie-breaking strategy in place in the event that
    more than one student shares the highest
    cumulative GPA.
  • The required number of semesters of enrollment
    for a student to be eligible for the AES is
    determined by each school district as part of
    your Board Policy.
  • If you have an un-weighted, or traditional,
    grading system, alternates for the AES must have
    the very same GPA as the winner of the AES.
  • If you have a weighted grading system,
    alternates are listed in order of the next
    highest GPAs.
  • The cumulative GPA for each student should be
    reported exactly as it is shown on your official
    high school transcript.
  • Student names should be written exactly as the
    student wishes it to appear on the certificate.
  • Schools should inform all recipients and
    alternates of their AES status as early as
    possible.
  • Please encourage recipients to return their
    paperwork to HEAB as soon as possible. Those who
    will not be attending a participating school
    should be reminded that alternates may be waiting
    in the wings!

64
Receiving State Financial Aid
  • HEAB notifies the college or university financial
    aid offices of each students eligibility for
    state financial aid.
  • The financial aid offices include the state aid
    in the students financial aid package.

65
Contacting HEAB
  • State of Wisconsin
  • Higher Educational Aids Board
  • P.O. Box 7885
  • Madison, WI 53707-7885
  • (608) 267-2206 Fax (608) 267-2808
  • E-Mail HEABmail_at_heab.state.wi.us
  • Web Page heab.wi.gov

66
Wisconsin Department of Public InstructionWiscons
in Educational Opportunity Programs
67
WEOP Offices
  • Ashland - 715-682-7975
  • Eau-Claire - 715-836-3171
  • Green Bay - 920-492-5745
  • Madison - 608-267-1058
  • Milwaukee - 414-227-4466
  • Racine - 262-638-7370
  • Wausau - 715-842-0871
  • www.dpi.state.wi.us

68
What is WEOP?
  • WEOP is a component of the Department of Public
    Instruction.
  • Our purpose is to help educationally and
    economically disadvantaged students continue
    their education through select statewide
    programs.

69
WEOP Programs
  • State Talent Search Program
  • Talent Incentive Program (TIP)
  • PreCollege Scholarship Program
  • Early Identification Program (EIP)
  • Federal GEAR UP Program (GU)
  • Federal Upward Bound Program
  • (Wausau Office only)
  • Federal Talent Search Program
  • (Ashland, Eau Claire, GreenBay, and Wausau
    offices only)

70
State Talent Search Program
  • Individual advising regarding financial aid,
    admissions and careers
  • Assist with the college and financial aid
    application process
  • Identify and recommend students for the TIP
    Grant
  • Recommend students for the GEAR UP scholarship
  • Assist students in identifying scholarship
    sources
  • Make financial aid presentations to parents,
    students, and community groups

71
Talent Incentive Program (TIP)
  • TIP Grant Purpose
  • Assist disadvantaged, low-income students with
    limited financial resources

72
Benefits of the TIP Grant
  • Grant ranges from 600-1800 per year
  • Automatically renewable if student applies for
    financial aid and is continuously enrolled
  • Available for 10 consecutive semesters

73
TIP Guidelines
  • Must be a WI resident
  • Attend a HEAB approved post-secondary institution
    (WI technical, public or private
    college/university)
  • Be a first time college freshman (A student who
    has been enrolled in a post-secondary institution
    for less than two semesters at half time or
    greater status since attending high school.)
  • Must meet the following criteria

74
TIP Criteria
  • A student must meet one criteria from Group A and
    one from Group B
  • Group A is based on financial need
  • Group B is based on other factors
  • The criteria is based on dependent or independent
    status for financial aid purposes

75
Group A
  • Dependent Student
  • 1. Parent contribution at or below 200
  • 2. Family receives TANF benefits
  • 3. Parents unemployed and have no current
    income from employment

76
Group A
  • Independent Student
  • 1. A student contribution at or below 200
  • 2. A student receives TANF benefits
  • 3. A student is unemployed and receives no income
    from employment

77
Group B
  • A student must meet one of these criteria
  • Be a member of a minority group
  • Be enrolled in a special academic support program
    at college
  • Be a first generation (neither parent graduated
    from a 4-year college)
  • Be a DVR Client
  • Be formerly incarcerated
  • Have special family circumstances that may deter
    the student from pursuing apost-secondary
    education

78
Required Documentation
  • College Letter of Acceptance or Class Schedule
  • Student Aid Report (SAR)
  • Prior Year Tax Forms
  • Verification of untaxed income
  • Financial Aid Award Letter

79
How to apply?
  • Contact your nearest WEOP office
  • Download the application at
  • www.dpi.state.wi.us/weop/index.html

80
PreCollege Scholarship Program
  • Available to Wisconsin students in grades 6-12
    who are eligible for free or reduced lunch.
  • Must be attending a Wisconsin academic
    pre-college program
  • Must have a 2.0 or better GPA to receive a
    scholarship
  • Covers tuition, books, supplies, room and board
  • Application must be signed by guidance counselor,
    teacher, principal or WEOP counselor and a parent
    or legal guardian
  • The application is available at
  • www.dpi.state.wi.us/weop/index.html

81
EIP, FTS, UB, GU Guidelines
  • Grades 6-12
  • Programs emphasize
  • Academic Achievement
  • Tutoring
  • Mentoring
  • Parent Involvement
  • College Visits
  • Early Awareness
  • Programs are provided to
  • Targeted School Districts
  • Students who meet federalincome guidelines

82
GEAR UP Scholarship
  • Eligible participants
  • Are GEAR UP, EIP or Federal Trio students who are
    eligible for the TIP grant
  • Must be nominated by a WEOP Counselor
  • Must attend a public, private, or technical
    college in Wisconsin
  • Can receive this renewable scholarship for 10
    consecutive semesters of attendance

83
WEOP Offices
  • 125 South Webster Street, Room 309
  • Madison, WI 53707
  • (608)267-1058
  • 2113 N. Wisconsin
  • Racine, WI 53402
  • (262)638-7370
  • 133 River Drive
  • Wausau, WI 54403
  • (715)842-0871
  • 620 Beaser Avenue
  • Ashland, WI 54806
  • (715)682-7975
  • 204 E. Grand Avenue, 5th Floor
  • Eau Claire, WI 54701
  • (715)836-3171
  • 2140 Holmgren Way
  • Green Bay, WI 54304
  • (920)492-5745
  • 101 W. Pleasant Street, Suite 204
  • Milwaukee, WI 53212
  • (414)227-4466

84
Thanks
  • Questions or Comments?

85
Special Topics in Financial Aid
86
Special Topics in Financial Aid
  • Dont Get Scammed
  • Common Errors
  • Special Circumstances
  • Processing
  • Tool Kit
  • Internet Resources

87
Dont Get Scammed on Your Way to College
  • Consumer complaints are mainly about business
    practices
  • College prep/financial aid advice services
  • FAFSA for a fee
  • Be aware of tactics used to convince students to
    buy services
  • If you use our services, youre guaranteed to
    get at least 2000 in student aid for college, or
    well give you your money back.
  • Applying for aid is complicated. Were the only
    ones who can help you through the process and
    find all the aid for which youre eligible.
  • Id like to offer you a scholarship (or grant).
    All I need is your bank account information so
    the money can be deposited and a processing fee
    charged.
  • Contact your nearest college financial aid office
    if you have questions regarding the legitimacy of
    any questionable offer

88
Proceed with Caution!
  • Avoid being charged a fee to file the FAFSA
  • Processes of completing and processing the FAFSA
    are FREE
  • If filing FAFSA on the Web, make sure you go
    directly to www.fafsa.ed.gov (not
    www.fafsa.com)
  • Contact the financial aid office if you need help
    in completing the FAFSA

89
Frequent FAFSA Errors
  • Missing Signatures/PIN
  • Wrong Social Security Number
  • Divorced/remarried parent information
  • Income earned by parents/stepparents
  • Untaxed income
  • U.S. income taxes paid
  • Household size
  • Number in postsecondary education
  • Real estate and investment net worth
  • Not using real name
  • NOT APPLYING AT ALL

90
Dependency Status
  • At least 24 years old
  • Graduate or professional student
  • Married
  • Has child for whom student provides more than
    half support
  • Has dependent other than child or spouse who
    lives with student and for whom provides more
    than half support
  • Orphan or ward of the court
  • Veteran of the U.S. Armed Forces or currently
    serving active duty for other than training
    purposes in the U.S. Armed forces or
  • Determined to be independent by the financial aid
    administrator
  • (Parents refusal to provide support or financial
    data is insufficient to make a student
    independent regardless of tax filing status)

91
For Federal Methodology Who is a Parent?
  • Two biological parents married to each other
  • Divorced or separated parents
  • Stepparent
  • Widowed parent
  • Legal adoptive parent

92
Divorced/Separated Issues
  • FAFSA is to be completed by parent with whom the
    student is living, regardless of who claims
    student on taxes or what divorce decree states.
  • If parent has remarried, stepparent information
    must be included on the FAFSA.
  • Some higher-cost schools will ask for a
    Divorced/Separated Supplement to be completed on
    other parent to determine eligibility for college
    programs.

93
After you file the FAFSA
  • Results are sent electronically to the college(s)
    the student selected.
  • Students Parents will receive the results of
    their FAFSA by e-mail (or regular mail) - Student
    Aid Report (SAR).
  • Students may be required to verify the
    information submitted on the FAFSA(submit tax
    forms).
  • Contact the college with anySpecial
    Circumstances.
  • After the student is admitted to acollege, a
    financial aidpackage will be prepared.

94
Special Circumstances? Call the Financial Aid
Office
  • Divorce/Separation
  • Loss of income or benefits
  • One-time income
  • Death or Disability of student or parent
  • Medical/Dental expenses not covered by insurance
  • Elementary or secondary school tuition
  • Dependency override
  • (Note Professional Judgement is at the sole
    discretion of each institution.)

95
Professional Judgment by Financial Aid
Administrators
  • Adjustments are determined by each institution on
    a case by case basis.
  • Another institution cannot automatically accept
    a professional judgment made by another
    institution.
  • The decision must recognize the unique situation
    of the student and must be documented.

96
FAFSA on the Web andRenewal FAFSA on the Web
  • Parents with multiple children in college can
    continue to transfer information to additional
    applications
  • Link on confirmation page to Begin a new
    application with parent data already filled in?
    will display only for
  • Dependent students
  • Independent students who provided parent data on
    the application


97
E-Mail Correspondence
  • When e-mails with links to SAR information on the
    Web are returned as undeliverable, a paper SAR or
    SAR Acknowledgement will be generated and mailed
    to student
  • Spanish e-mail notifications will be sent to
    students and parents who submitted
    Spanish-language applications and provided valid
    e-mail addresses

98
Whats So Great About Doing the FAFSA Online?
  • You should use FAFSA on the Web instead of paper
    because
  • Its quick
  • Results back up to three weeks faster
  • Speed may be important for schools awarding
    limited resources
  • Instant access to EFC estimate
  • Electronic Student Aid Report (SAR) sent to email
    provided
  • Its easy
  • Detailed help screens for every question
  • Live, private online help is available
  • Skip logic asks only what you must answer
    skips questions that dont apply
  • Access from anywhere
  • Electronic signature using PIN
  • English or Spanish versions
  • Its accurate

99
FAFSA on the Web
  • Apply
  • Renewal
  • English and Spanish options
  • Access PIN Web site
  • Check status of application
  • View SAR information
  • Make corrections

www.fafsa.ed.gov
100
There is always the 2008-2009 Paper FAFSA
  • 2008-2009
  • Orange for students
  • Purple for parents
  • FAFSA will include
  • Insert

101
FAFSA on the Web Worksheet
2008-2009
  • Designed to use in preparing for On-Line FAFSA

102
Student Aid Communications
  • FAFSA on the Web
  • Student Aid Report (SAR)
  • E-mail Notifications
  • Paper FAFSA

103
2008-2009 FAFSA
  • FAFSA Questions
  • Question order remains the same
  • No new questions added
  • No questions deleted

104
2008-2009 Changes
  • Real-Time PIN
  • Issued upon request (FOTW or PIN Site)
  • Valid for FAFSA unless subsequent SSA match fails
  • Number of School Choices
  • Increased to ten on FOTW
  • Remains four on paper
  • Non-Filers with income above IRS filing amount
  • Questioned on FOTW
  • Reject if submitted
  • FAA can override

105
2008-09 Renewal Application Process
  • Renewal Reminders sent in early January 2008
  • Students with a valid e-mail address will receive
    e-mail reminders
  • If no e-mail address or e-mail is undeliverable,
    paper reminder letter will be sent to applicant

106
FAFSA on the Web Toolkits
  • Mailed in October to
  • Postsecondary schools
  • High schools
  • State agencies
  • Libraries
  • PTAs
  • TRIO Centers
  • Gear Up
  • NCAN
  • Toolkits will include
  • FOTW Brochure
  • PIN Brochure
  • Poster
  • Tips Card
  • Web-Link Graphics Flyer
  • FAA Access Flyer

107
FAFSA4caster
  • FAFSA4Caster was developed to
  • Foster early awareness with the financial aid
    application process and form
  • Serve as an early analysis tool informing college
    affordability
  • Reduce the time requiredto submit the
    officialfinancial aid application inthe
    student's senior yearof high school

108
FAFSA4caster
  • FAFSA4caster will
  • Automatically generate a Federal Student Aid PIN
    for use when signing the FAFSA
  • Instantly calculate eligibility for federal
    student aid
  • Generate a FAFSA a FAFSA populated withstudent
    FAFSA4casterdata will be availablewhen the
    student isready to file the officialFAFSA

109
www.fafsa4caster.ed.gov
110
Congratulations, THERESA! FAFSA4caster has
successfully calculated the information you
submitted. Below you will see an estimated
Expected Family Contribution (EFC). The EFC is
not the amount of money that your family must
provide. Rather, you should think of the EFC as
an index that colleges use to determine how much
financial aid you would receive if you were to
attend their school. When you officially apply
for financial aid, the colleges you list on your
Free Application for Federal Student Aid (FAFSA)
will determine your eligibility and then send you
award information that identifies the aid they
have determined you may receive. This award
information will vary from college to college
because the cost of attending each is different.
Your estimated EFC is 1060. Now that we have
calculated your EFC you can see what your college
education may cost for attending a certain type
of college in the United States. We will use your
estimated EFC of 1060 and the national average
for cost of attendance at each type of school.
111
FAFSA on the Web Demo Site
112
www.fsa4counselors.ed.gov
113
www.studentaid.ed.gov
114
www.students.gov
115
www.Going2College.org
116
www.KnowHow2GO.org
117
www.heab.wi.gov
118
www.wasfaa.net
119
www.finaid.org
120
Questions? Comments?
How can we help you? What challenges do you
have? Do you need assistance with your financial
aid night?
121
THANK YOU ALL FOR ATTENDING!!! Please complete
the evaluation.
122
Pre-Collegiate School Relations Committee
Committee Objective To educate students,
parents, teachers, and school counselors about
the availability of financial aid and the aid
application process. Committee Members Lisa
Albers Connie Hutchison Paul
Baldridge Marilyn Krump Triena Bodart Jane
Lemke Linda Brumm Heather McGee Maureen
Crump-Phillips Leone Pierce Donna
Dahlvang Amy Schrader Susan Fischer Steve
Schuetz Bill Henderson Susan Teerink Michelle
Hermes Bill Trippett Sara Beth Holmen Kelly
Vander Wyst Sharon Hunter Margaret
Zitzer Christine Zollicoffer
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