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2	What Will You Learn Today? Types and sources of financial aid Required financial aid application forms How to complete the Free Application for Federal Student Aid (FAFSA) Answers to your individual questions
3	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
4	Sources of Financial Aid Federal government State government Colleges and universities Private agencies, companies, foundations, and your parents’ employers
5	Eligibility for State Aid State Student Assistance Commission of Indiana (SSACI) provides aid to needy Indiana students who attend a college/university in Indiana After FAFSA is processed, students may check eligibility by creating a login at www.in.gov/ssaci.
6	2010-2011 State Aid Application Requirements Also, edits on the FAFSA must be resolved by May 15, 2010.
7	FAFSA Information & Tips File as soon as possible Use estimated 2009 income information if 2009 taxes are not complete at time of FAFSA submission The student and at least one parent whose information is required must complete and sign the FAFSA
8	The FOTW Worksheet A Four 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
9	Section 1 (page 2) STUDENT INFORMATION
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11	Section 1 Student Social Security Number
12	"If U.S" 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, the student is ineligible for federal/state aid, but might still be eligible for institutional funds
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14	Section 1 Student Marital Status The student should check his or her marital status as of the date the FAFSA on the Web is completed If the student is married or remarried, he or she will be asked to provide information about his or her spouse
15	Section 1 Selective Service Registration
16	Section 1 Student Aid Eligibility Drug Convictions If the student has never attended college since high school, check “Never attended college” If the student has attended college since high school but never received federal student grants, loans or work-study, check “I have never received federal student aid” If the student has received federal student aid and has never had a drug conviction, check “I have never had a drug conviction”
17	Section 1 Student Aid Eligibility Drug Convictions If the student was convicted of the possession or sale of illegal drugs while receiving federal student aid, the student will be asked to complete more questions about the drug offense Simply having a drug conviction does not mean that the student will be ineligible for federal student and/or state student aid
18	Section 1 Parents’ Educational Level
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20	Section 1 High School Completion Status High School Completion Status When the student begins college in the 2010-2011 school year, what will be the student’s high school completion status? High school diploma GED certificate Home schooled None of the above
21	Section 1 Grade Level in 2010-2011 Grade Level in 2010-2011 When the student begins the 2010-2011 school year, what will be his/her grade level? Never attended college/1^st year Attended college before/1^st year 2^nd year/sophomore 3^rd year/junior 4^th year/senior 5^th year/other undergraduate 1^st year graduate/professional Continuing graduate/professional or beyond
22	Section 1 Degree or Certificate Objective Degree or Certificate In the 2010-2011 school year, what degree or certificate will you, the student, be working on? Some options are: - 1^st bachelor’s degree - Associate degree (occupational or technical program) - Associate degree (general education or transfer program) - Graduate or professional degree
23	Section 1 Student Expected Enrollment Status at the Start of the 2010-2011 Academic Year
24	Section 1 Work-study, Loans, and TEACH Program
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27	Section 1 School Selection
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31	"Section 3 (page 3" Section 3 (page 3) PARENT INFORMATION
32	Section 3 Who is Considered a Parent See Page 3 of FAFSA on the Web Worksheet about who is considered a parent Biological or adoptive parent(s) Stepparent (regardless of any prenuptial agreement) In case of divorce or separation, provide information about the parent and/or stepparent the student lived with more in the last 12 months
33	Section 3 Who is Not a Parent 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
34	Section 3 Parent Information
35	Section 3 Parent Information If the student is providing father’s/stepfather’s and/or mother’s/stepmother’s information, the student will need those parents’: Social Security Numbers Names Dates of Birth
36	Section 3 Dislocated Worker The student will be asked to check if the father/stepfather and/or mother/stepmother is a dislocated worker A person may be considered a dislocated worker if he/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
37	Section 3 Parents’ Tax Return Filing Status for 2009
38	Section 3 Parent 2009 Adjusted Gross Income 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 2009 Use W-2 forms and other records to list all income earned from work in 2009 (including business income earned from self-employment) for father/stepfather and/or mother/stepmother
40	Section 3 Parents’ Household 2008 or 2009 Benefits Received Indicate if the student, his/her parents, or anyone in the parents’ household received benefits in 2008 or 2009 from any of the federal programs listed: Supplemental Security Income (SSI) Food Stamps Free or Reduced Price School Lunch TANF WIC
41	Section 3 2009 Additional Financial Information The student will be asked to report if his or her parents received or paid any of the following items in 2009 (check all that apply) - Hope and Lifetime Learning tax credits - Child support paid - Taxable earnings from work-study, assistantships, or fellowships - Grants and scholarship aid reported to the IRS - Combat or special combat pay - Cooperative education program earnings
42	Section 3 2009 Parent Untaxed Income The student will be asked to report if his or her parents had any untaxed income in 2009. Check all that apply. Some examples of the most common items are: - Payments to tax-deferred pensions and savings plans such as 401Ks, IRA deductions, and payments to self-employed SEP and Keoghs - Tax exempt interest income - Child support received - Housing, food and other living allowances paid to members of the military and clergy
43	Section 3 Parent Assets NOTE: Some financial aid offices may request supporting documentation for the answers to these questions
44	Section 3 Parent Assets Parents may be asked to report the current balances of their cash, savings, and checking accounts as of the day they complete the FAFSA They may also be asked to provide information about the net value of their investments such as real estate, rental property, money market and mutual funds, stocks, bonds and other securities In addition, they may be asked questions about the net value of their businesses and investment farms They should not include the home they live in, the value of life insurance and retirement plans, or the value of a family-owned and controlled small business
45	Section 3 Parent E-Mail Address Provide a parent e-mail address that will be valid at least until the student starts college If a parent provides an e-mail address, the FAFSA processor will let the parent know the student’s FAFSA has been processed
46	Section 3 Parent Household Size
47	Section 3 College Students in the Parent Household NOTE: Some financial aid offices will require proof that other family members are attending college
48	Section 3 Parent 2009 U.S. Income Taxes
49	Section 3 Parents’ 2009 Tax Exemptions
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51	Section 4 Student Information
52	Section 4 Student Dislocated Worker A person may be considered a dislocated worker if he/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
53	Section 4 Student Information (Independent Students)
54	Section 4 Student Benefits (Independent Students) Indicate if the student, his/her spouse, or anyone in the student’s household received benefits in 2008 or 2009 from any of the federal programs listed: Supplemental Security Income (SSI) Food Stamps Free or Reduced Price School Lunch TANF WIC
55	Section 34 Student Household Size
56	Section 4 Student Number in College (Independent Students)
57	What Happens Next? Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor ê Students and families review SAR for important information and accuracy of data ê Colleges match admission records with financial aid applications and determine aid eligibility ê Colleges mail notices of financial aid eligibility to admitted students who have completed all required financial aid forms
58	Student Aid Report (SAR) After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment 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 1 Keep a copy of the SAR with other financial aid documents
59	Summary of the Financial Aid Process Submit all required forms, including the FAFSA, by each college’s published deadlines (insert any special state deadlines) 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!
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