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Welcome to Alaska College Goal Sunday 2009

Welcome to Alaska College Goal Sunday 2009. Brought to you by the Coalition of Alaskans Supporting Higher Education. Updated 1/6/2009 Andrea Van Ravenswaay, ACPE. 2009 Sponsors. Understanding the FAFSA. The FAFSA. Evaluates a family’s eligibility for federal student aid programs

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Welcome to Alaska College Goal Sunday 2009

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  1. Welcome to AlaskaCollege Goal Sunday 2009 Brought to you by the Coalition of Alaskans Supporting Higher Education Updated 1/6/2009 Andrea Van Ravenswaay, ACPE

  2. 2009 Sponsors

  3. Understanding the FAFSA

  4. The FAFSA • Evaluates a family’s eligibility for federal student aid programs • Bases financial capacity on prior year • Students must re-apply each year • Assets may change from year to year • www.fafsa.ed.gov

  5. FAFSA Goals • Determines Expected Family Contribution (EFC) • A measure of your family’s financial strength • Used to determine your eligibility for federal student aid during one school year • Everyone should file a FAFSA • No income cutoff • Required for federal and state aid • Often required for campus-based aid

  6. Timelines • After January 1 of senior year • State deadline: April 15 (received) • Some colleges have early deadlines • Check deadlines on college websites • Don’t wait until after admission to the school • Best to file by mid-February

  7. File your FAFSA online • Quick • Easy • Accurate • Safe www.fafsa.ed.gov

  8. PIN Registration Website • Electronic signature • Apply for federal student aid • Renew FAFSA • Make corrections online • Access your federal student aid records • Student needs a PIN • Parent(s) need a PIN www.pin.ed.gov

  9. Completing the 2009-2010 FAFSA on the Web Worksheet • A line by line discussion • Traditional student emphasis (straight out of high school) • Anyone can file a FAFSA • Traditional students • Non-traditional students • Older returning students • Graduate school students

  10. Section 1 Student information Let's get started! Page 2 of FAFSA on the Web Worksheet

  11. Student’s last name, SS#, & driver’s license number • List student’s last name and social security number exactly as they appear on SS card • Both will be compared through a database match • No nicknames! • List driver’s license number of student • Leave blank if you don’t have one Smith 5 7 4 1 1 1 1 1 1 1 2 3 4 5 6 7 Page 2 of FAFSA on the Web Worksheet

  12. Citizenship • Are you a U.S. Citizen? • Eligible noncitizen? • A permanent US resident with a Permanent Resident Card (I-551) • A conditional permanent resident (I-551C) • The holder of an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any of the following designations: “Refugee,” “Asylum Granted,” “Parolee” (I-94 confirms paroled for a minimum of one year and status has not expired), “Victim of human trafficking,” T-Visa holder (T-1, T-2, T-3, etc.) or “Cuban-Haitian Entrant.” • Neither citizen nor eligible non citizen? • Submit the FAFSA anyway because you may be eligible for state or campus based aid Page 2 of FAFSA on the Web Worksheet

  13. Alien Registration Number • If you are an eligible non-citizen, enter your 8 or 9 digit ARN • Precede an 8 digit ARN with a zero • Copy of permanent registration card might be requested by the financial aid office • U.S. Citizens should leave this blank 0 1 2 3 4 5 6 7 8 Page 2 of FAFSA on the Web Worksheet

  14. Marital status (of student) • Enter your marital status as of today (the day you submit your FAFSA) • Enter the month/year you were married, separated, divorced, or widowed Page 2 of FAFSA on the Web Worksheet

  15. Legal residence • Enter your state of legal residence • Enter the date you became a legal resident of your state if it was not before January 1, 2004 AK Page 2 of FAFSA on the Web Worksheet

  16. Selective Service • If you are male between age 18-25 and are NOT registered, select “Register Me” • If you are male under 18, leave blank. • If you are female, leave blank. Page 2 of FAFSA on the Web Worksheet

  17. Federal student aid & drug conviction questions • Have you ever received federal student aid? If “no” skip Q23. • Have you ever been convicted for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid? • Don’t count convictions that have been removed from your record • Don’t count convictions that occurred before you were 18 (unless you were tried as an adult) Page 2 of FAFSA on the Web Worksheet

  18. Parent’s education • Indicate the highest level of school your father and mother completed • Some states and colleges offer aid based upon the level of schooling your parents have completed. • Use birth parents or adoptive parents • Not foster parents or step-parents Page 2 of FAFSA on the Web Worksheet

  19. Degree or certificate • When you begin the 2009-2010 school year, what degree or certificate will you be working on? • Indicate your most immediate degree objective Page 2 of FAFSA on the Web Worksheet

  20. Enrollment status • When you begin the 2009-2010 school year, what do you expect your enrollment status to be? • Most traditional students will answer “full time” • If in doubt, answer “full time” Page 3 of FAFSA on the Web Worksheet

  21. Work-study and student loans? • For a complete financial aid offering, answer “both work-study and student loans” Page 3 of FAFSA on the Web Worksheet

  22. Section 2 Student dependency status Page 3 of FAFSA on the Web Worksheet

  23. Determining dependency Page 3 of FAFSA on the Web Worksheet

  24. Emancipated minors & legal guardianship • Are you or were you and emancipated minor as determined by a court in your state of legal residence? • Are you or were you in legal guardianship as determined by a court in your state of legal residence? Page 3 of FAFSA on the Web Worksheet

  25. Homeless youth questions • Homeless means lacking fixed, regular and adequate housing • Includes living in shelters, motels or cars, or temporarily living with other people because you had nowhere else to go. • Unaccompanied youth means you are not living in the physical custody of your parent or guardian • Youth means 21 or younger, or you are still enrolled in high school as of the day you sign this application Page 3 of FAFSA on the Web Worksheet

  26. Dependent or independent student? • Yes to any question = independent student • You do not have to provide parent information in section 3 • Skip to section 4 • No to all questions = dependent student • You must report parent information in section 3 Page 3 of FAFSA on the Web Worksheet

  27. Section 3 Parental information Independent students - skip this section Page 4 of FAFSA on the Web Worksheet

  28. Who is a parent? Biological parents Adoptive parents Step-parents Who is not a parent? Grandparents Foster parents Legal guardians Older brothers or sisters Aunts or uncles Parents Page 4 of FAFSA on the Web Worksheet

  29. Single, widowed, or divorced parents • Widowed or single (never married) parent? • Answer questions about that parent only • Widowed and remarried? • Answer about parent and step-parent • Divorced? • Answer about the parent you lived with more (plus any step-parent you live with) Page 4 of FAFSA on the Web Worksheet

  30. Parents’ marital status & email • Indicate the marital status of your parents • Include the month and year your parents were married, separated, divorced, or widowed • Example 05/1980 • Enter your parents’ email address • List only parents whose information you are reporting parents@yahoo.com Page 4 of FAFSA on the Web Worksheet

  31. Parent identifying information • Enter your father’s (or step-father’s) social security number, last name, and date of birth • Enter your mother’s (or step-mother’s) social security number, last name, and date of birth • If no SS# available, enter all zeroes • Only list info on parents reporting on FAFSA 5 7 4 4 4 4 4 4 4 Smith 5 7 4 4 4 4 4 4 4 Smith Page 4 of FAFSA on the Web Worksheet

  32. Parents’ state of residence • List your parents’ state of legal residence • Enter the date of legal residency for the parent who has lived in the state longest, if it was after January 1, 2004 AK Page 4 of FAFSA on the Web Worksheet

  33. Parents’ 2008 tax return • Indicate what type of income tax return your parents filed or will file in 2008 • Indicate if they were eligible to file a 1040A or 1040 EZ • A person is not eligible to file a 1040A or 1040EZ if he or she: • Makes more than $100,000 • Itemizes deductions • Receives income from his or her own business or farm • Is self employed • Receives alimony • Is required to file Schedule D for capital gains • If you filed a 1040 only to claim Hope or Lifetime Learning tax credits, and would have otherwise been eligible for a 1040A or EZ, you should answer “YES” Page 4 of FAFSA on the Web Worksheet

  34. Parents’ federal household benefits • In 2007 or 2008, did you, your parents, or anyone in your parents’ household received benefits from any of the federal benefit programs listed? • Mark all that apply Page 4 of FAFSA on the Web Worksheet

  35. Dislocated worker • As of today, is either of your parents a dislocated worker? Page 5 of FAFSA on the Web Worksheet

  36. Parents’ adjusted gross income for 2008 • AGI for 2008 • 1040 line 37 • 1040A line 21 • 1040EZ line 4 • It’s OK to estimate if you haven’t done your taxes yet • Report whole dollars (no cents) • If the answer is $0 or the question does not apply, enter “0” 40,000 Page 5 of FAFSA on the Web Worksheet

  37. Parents’ earnings from work • Enter how much each of your parents earned from working in 2008 (wages, salaries, tips) • W2 forms • IRS 1040 lines 7+12+18+Box 14 of Schedule K-1 (Form 1065) • 1040A line 7 • 1040EZ line 1 19,000 18,000 Page 5 of FAFSA on the Web Worksheet

  38. Parents’ income tax for 2008 • Enter the amount of your parents’ income tax for 2008 • IRS 1040 line 56 • 1040A line 35 • 1040 EZ line 11 1,100 Page 5 of FAFSA on the Web Worksheet

  39. Parents’ exemptions for 2008 • Enter your parents’ exemptions for 2008 • 1040 line 6d • 1040A line 6d 4 Page 5 of FAFSA on the Web Worksheet

  40. Parent household • Your parents’ number of family members in 2009-2010 • Yourself • Your parents • 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 if your parents provide more than half their support, • and will continue to provide that level of support from July 1, 2009 to June 30, 2010 4 Page 5 of FAFSA on the Web Worksheet

  41. Household members attending college • How many people in your parents’ household will be college students between July 1, 2009 and June 30, 2010? • Always count yourself • Never include your parents • Include other household members only if they will attend college at least half time in 2009-2010 in a program that leads to a college degree or certificate 1 Page 5 of FAFSA on the Web Worksheet

  42. Parents’ 2008 additional financial information & untaxed income • Complete the left hand column on page 8 (Q94 and Q95) Page 5 of FAFSA on the Web Worksheet

  43. Parent asset information • Report the current balance in your parents’ cash, savings, and checking accounts as of the day you complete your FAFSA 2,700.00 Page 5 of FAFSA on the Web Worksheet

  44. Investments include… Real estate (other than family home) Trust funds UGMA and UTMA accounts Money market and mutual funds Certificates of deposit Stocks and stock options Bonds and other securities Coverdell savings accounts 529 college savings plans The refund value of 529 prepaid tuition plans Installment and land sale contracts (including mortgages held) Commodities, etc. Don’t include… The value of life insurance Retirement plans Pension funds Annuities Non-education IRAs Keogh plans, etc. Cash, savings and checking accounts already reported earlier Net worth of parents’ investments 0 Page 5 of FAFSA on the Web Worksheet

  45. Include the market value of land, machinery, equipment, and inventory Don’t 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 Net worth of parents’ business and/or investment farms 0 Page 5 of FAFSA on the Web Worksheet

  46. Section 4 Student finances Page 6 of FAFSA on the Web Worksheet

  47. Student tax return questions Page 6 of FAFSA on the Web Worksheet

  48. Veterans’ education benefits • Indicate which veterans’ education benefits you will receive in 2009-2010 • For more information, contact the VA at 800-827-1000 www.va.gov Page 6 of FAFSA on the Web Worksheet

  49. Student household & number in college • List the number of family members in the student’s household • List the number of family members attending college in 2009-2010 • Will not apply to traditional students dependent students skip this step Page 6 of FAFSA on the Web Worksheet

  50. Student household benefits • Indicate which benefits anyone in your household received in 2007 or 2008 • Will not apply to traditional students dependent students skip this step Page 6 of FAFSA on the Web Worksheet

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