What you need to know about Financial Aid for 2018-2019

1. What you need to know about Financial Aid for2018-2019

2. Presented by: Andi Schreibman Financial Aid Officer, Las Positas College 2

3. What Will You Learn Today? • Important terms • Categories, types and sources of Financial Aid • Application Process & Deadlines • Tips for completing the FAFSA • Special Circumstances • Awarding and Packaging • Strategies to minimize Expected Family Contribution • Useful resources • Answers to your questions

4. TERMS YOU SHOULD KNOW Term: ‘Financial Aid’ Financialaid consists offunds provided to students and families to help pay for postsecondary educational expenses Term: ‘FAFSA’ The Free Application for Federal Student Aid (‘FAFSA’): the financial aid application that must be completed for every college in the U.S.

5. More about the FAFSA • May be filed at any time during an academic year, but no earlier than October 1st prior to the academic year for which the student requests aid. • For the 2018–19 academic year, the FAFSA may be filed beginning October 1, 2017 • Most colleges set FAFSA filing deadlines • Must be filed once every school year

6. Term: ‘Expected Family Contribution’ (EFC) • Amount the govt assumes a family can reasonably be expected to contribute toward a student’s education for one year • Stays the same regardless of college • Two components • Parent contribution • Student contribution • Calculated using data from the FAFSA application form and a federal formula

7. Term: ‘Cost of Attendance’ (COA) • Average cost to attend a specific college for one year • Direct costs (tuition & fees, campus housing • Indirect costs (books & supplies, room & board, personal expenses, transportation) • Direct and indirect costs are combined into cost of attendance • Varies widely from college to college

8. Comparing various College and University COAs *Families making less than $125,000 per year are guaranteed free tuition. Families making less than $65,000 per year receive free tuition, room and board.

9. Term: ‘Financial Need’ Cost of Attendance –Expected Family Contribution = Financial Need Colleges determine and offer financial aid based on this equation. Some types of aid require financial need and some types do not.

10. Types of Financial Aid Free Financial Aid or ‘Gift Aid’ • Grants are free money you don’t have to repay, typically based on financial need. • Fee Waivers are free money, waive enrollment fees at community colleges, based on financial need. • Scholarships are free money, usually based on basis of merit, skill or unique characteristics. Self-Help Aid • Federal Work-study programs—work for pay • Loans are borrowed money that you must pay back, usually with interest – ‘self-help’.

11. Federal government State government Colleges and universities Private sources: civic organizations, businesses, foundations, employers, etc Sources of Financial Aid

12. Free Money: Federal Pell Grants Federal Pell Grant • Largest source of financial aid, for very low income students • Aid awarded primarily on the basis of financial need and Expected Family Contribution (EFC). • 2018-19 Pell Grant: maximum amount not yet determined by Congress • For 2017-18: EFC must be 0 – 5328. (Expect the same or higher) • 2017-18 Pell maximum = $5920/year based on full-time enrollment. Amount awarded varies with EFC. Amount actually received is dependent on enrollment status (student receives less money if less than fulltime) • DID YOU KNOW: You will receive the same amount of a pell grant at any college you attend; you don’t get more Pell grant at a more expensive college. • Must apply each year using the FAFSA

13. Free Money: Other Federal Grants • There are other federal grants for low income students. Your college will determine which grants you qualify for. Not all colleges partipate in every federal program offered. • The FAFSA is the only application needed to apply for all types of federal and state aid. G

14. Free Money: Entitlement Cal Grants • Available only to high school seniors and those who graduated the previous school year • For California 2-yr, 4-yr, public, private, and • vocational colleges • Pays FULL TUITION at a CSU or UC, @ up to $8056/year for private institution. • Renewable up to 4 years. The tuition part is on reserve while student attends a community college. • Cal B recipients receive a $1656 annual grant in addition to full tuition for 4 years

15. Free Money: Cal Grant Entitlement Awards

16. To be eligible for a Cal Grant, the student must also: be a U.S. citizen,eligible noncitizen, or eligible under CA Dream Act (later slide) be a California resident attend an accredited California college or university at least half-time Eligibility for Cal Grants

17. California Dream Act • California regulations allow undocumented students who attended a CA high school for 3 years or more and earned a diploma or equivalent, to qualify for an Entitlement Cal Grant. They may also legally qualify for scholarships, Community College Registration Fee waivers, college/university grants and other assistance programs in California. • To apply, file a CA. DREAMAPPLICATION instead of a FAFSA at www.csac.ca.gov • Contact your college admissions office to submit an AB540 application, needed to receive aid through the Ca. Dream Act

18. 2018-19 Cal GrantApplication Requirements By March 2, 2018, complete and submit: • Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov • If eligible under Assembly Bill 540 (AB540) or DACA, students should complete the California Dream Act Application at www.caldreamact.org • Cal Grant GPA Verification Form at www.csac.ca.gov • Your high school will automatically send your GPA for the Cal Grant GPA Verification; be sure your school has your correct social security number.

19. Check Your Cal Grant Status By opening a WebGrants Account a student can: • Check Cal Grant award status 24/7 • Confirm student’s high school graduation as required once they have actually graduated • Make changes to Cal Grant school choices • View how much a Cal Grant is worth at different California colleges and universities • Create a WebGrants account at: www.webgrants4students.org

20. Undocumented Students • Watch for changes in federal and state laws regarding eligibility of undocumented/under-documented students • Apply for AB540 status at your college’s Admissions Office. This will save you thousands of dollars in enrollment fee charges, and will make you eligible to receive state financial aid. • AB540 undocumented students apply for Cal Grants and other state aid by submitting a California Dream Act Application Other resources: • Contact MALDEF at (213) 629-2512 (www.maldef.org) • Apply for all scholarships for which you may be eligible https://www.maldef.org/assets/pdf/FINAL_2018-2019_MALDEF_Scholarship_List_102717.pdf • Check out www.e4fc.org

21. Free Money: California Middle Class Scholarship (MCS) • The Middle Class Scholarship (MCS) assists new and continuing UC and CSU undergraduate students with family incomes and assets up to $165,000 and assets up to $165,000 • To apply, students must: • Submit 2018-19 FAFSA by March 2, 2018 • AB540 students submit 2018-19 CA Dream Act Application • Note: no GPA is required • Attend a CSU or a UC • Maintain a 2.0 cumulative college GPA • MCS awards vary and are determined by the CA Student Aid Commission • Students cannot receive both grant aid and the MCS • Qualifying students will be notified by the California Student Aid Commission • Annual awards are determined by the California Student Aid Commission

22. Free Money: California Chafee Grant • The California Chafee Grant program provides up to $5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S., based on available funding • To be eligible, foster youth must have been in California foster care on their 17th birthday and not have reached their 22nd birthday before July 1, 2018 • Current and former foster youth are encouraged to apply during their senior year of high school • AB540 students may also be eligible To apply for a Chafee Grant, file a 2018-19 FAFSA and file a Chafee application at: www.chafee.csac.ca.gov

23. Free Money: Community College Board of Governors’ Fee Waiver Program • Waives enrollment fees at all community colleges for CA residents • File a FAFSA to qualify. Waiver is automatically awarded if you qualify. All CA resident students who have $1104 or more of financial need receive an automatic fee waiver Example: Las Positas College COA = $12,838 - EFC = $ -9100 NEED = $ 3738 Student qualifies for fee waiver because need >1104

24. Free Money: College/Institutional Grants Be mindful of PRIORITY FILING DEADLINES of each college or you may miss out on $$thousands! Each college has their own deadline by which you must submit your FAFSA. DON’T MISS IT! Check with each college or university you are considering attending. • CSU State University Grant (SUG) • calstate.edu or csumentor.edu • UC Grant • universityofcalifornia.edu • Independent College Grants • aiccu.edu or aiccumentor.org

25. Free Money: Scholarships Scholarships are awards provided by the private and public sector -institutions/colleges -organizations -corporations -clubs -foundations -individuals

26. Free Money: Scholarships • Provider decides on • Awarding criteria • Application deadline • Forms or applications • Awards may be • Merit-based • Need-based or NOT • Based on any other criteria determined by donor • Begin researching private aid sources early and continue all through college

27. Free Money: Scholarships WHERE TO FIND THEM: • Start with your High School Career Center • Local section of Newspaper • Organizations your family is connected to, including parent’s workplace, church, unions, clubs, etc. • Check your intended colleges’ financial aid/scholarship website for opportunities • Free online searches

28. Private FREE Scholarship Searches • FinAid on the Web: www.finaid.org • College Board: www.collegeboard.com • FastWeb: www.fastweb.com • Scholarship Resource Network Express: www.srnexpress.com • GoCollege: The Collegiate Websource: www.gocollege.com • Wired Scholar:www.wiredscholar.com

29. Self-help aid: Federal Work-Study • Federal financial aid program, but funds are limited • Money must be earned through work • Must have financial need • Job may be on or off campus • Each college has its own award policy, pay rates and procedures for getting a job.

30. Self-help aid: Federal Direct Student Loans Loan is only in the student’s name, no co-signer. Must be enrolled in at least 6 units. Two types: Federal Subsidized Direct Loan • For students with unmet financial need • Government pays interest while in school Federal Unsubsidized Direct Loan • For all students; no financial need required • Student responsible for cost of interest while in school

31. Federal Direct Student Loans • Annual and aggregate loan limits apply • Must be enrolled at least halftime • 6-month grace period after graduation before repayment begins • 10 – 30 year repayment period • Interest currently 4.45% for both types of loans. Interest changes every July 1. • Repayment is deferred while in college at least halftime

32. Federal Parent Loans for Undergraduate Students (PLUS) • Parents of dependent undergraduates can borrow up to the total cost of their child’s undergraduate study, less any other aid the student may receive • based on credit record • May borrow up to full cost of attendance less aid • Interest fixed at 7%; origination fee =4.264% • 10 year repayment period • Parents can defer payment until student graduates college. • http://studentaid.ed.gov/types/loans/plus

33. Private loans • May or may not carry higher interest rates and fees than federal loans • Typically the interest rates are variable • Based on your credit rating and debt-to-income ratio • May require a co-signer • May be secured • Up to $2500 in interest paid may be tax deductible under current regulations • Best to use federal student loan programs first; if you still need additional financing then turn to private loans.

34. Applying for Financial AidFAFSA on the Web www.fafsa.ed.gov The 2018-2019 FAFSA on the Web is used to apply for financial aid for the school year beginning Fall 2018. You may complete it beginning October 1, 2017.

35. File early, but no later than March 2, 2018 for the Cal Grant. File no later than the earliest Priority Filing Deadline of all colleges you are considering. Use 2016 income information. Do NOT use 2017 income and tax information Student and at least one parent whose information is reported must complete and sign the FAFSA FAFSA Information & Tips

36. Student and one custodial parent should get a Federal Student Aid ID (FSAID) to sign FAFSA at: www.fsaid.ed.gov 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 Access fafsa to apply in subsequent years Federal Student Aid ID (replaces the old federal PIN number)

37. Getting Ready • Before starting the FAFSA on the Web (FOTW), gather: • Student driver’s license • Student Alien Registration Card, if applicable • Student and Parent • Social Security cards • 2016 W-2 Forms and records of money earned and other taxable benefits • 2016 federal income tax forms • Records of untaxed income • Current bank statements • Business, farm, and other real estate records • Current records of stocks, bonds, and other investments so that you can determine value of assets to report

38. If You Need Help at Any Time FAFSA on the Web – Live Help is on the website Phone 1-800-4-FED-AID (1-800-433-3243) E-mail the U.S. Department of Education at: FederalStudentAidCustomerService@ed.gov

39. FAFSA Home Page

40. Getting Started on the FOTW

41. Login hints • If not using the FSA ID to log in, be sure that the student’s personal identifying information is accurate and exactly matches with the complete name and ssn on the social security card or it will be rejected! • Do not file a fafsa using a T.I.N. number; if you don’t have a valid SSN you shouldn’t file the fafsa; you should file a DREAM APPLICATION.

42. Section 1 - Selective Service Registration • All male students who are between the ages of 18 and 25 years must be registered with Selective Service to receive federal and/or state aid • Answer “Register me” only if you are male, aged 18-25, and have not yet registered. • The student may also register by going to: www.sss.gov

43. List a California college or university first (for Cal Grant consideration) which you are most likely to attend Then list those colleges with the earliest financial aid deadlines, regardless of whether they are in-state or out-of-state Your fafsa info is sent to the Ca. Student Aid Commission for evaluation for Cal Grant eligibility. If the student is applying to more than ten colleges, wait for the processed Student Aid Report (SAR) and then add additional colleges, deleting previous colleges if necessary via the Web, using the student FSA ID By phone, using the DRN from the SAR Section 2School Selection (continued) Strategies for Listing Colleges NOTE: Each UC and CSU campus must be listed separately

44. Section 3 - Determination of Student Dependency Status • If the student checks “No” in all of the boxes about Dependency Status, the student will be asked to go to Section 4. For FAFSA filing purposes, the student is considered a dependent student and will be required to provide parental information • If the answer to any one of the items in this section is ‘yes’, the student should mark the appropriate box. The student is considered an independent student for FAFSA filing purposes and is NOT required to provide parental information • Dependent students who have unusual and extenuating circumstances such as abandonment, an abusive parental situation, etc, may appeal to the college of attendance for an override of their dependency status. Documentation is key!

45. Who is considered a parent? Biological or adoptive parent(s) Including both same-sex parents Including both unmarried parents if living together In case of divorced or separated parents who don’t live together, provide information about the parent the student lived with more in the last 12 months Stepparent (regardless of any prenuptial agreements), if currently married to the student’s custodial parent Section 4Parent Demographics

46. Section 4Who is Not a Parent?

47. Section 4 - Parent Household Size 2018-2019 • Include in the parents’ household: • the student • parent(s) • parents’ other dependent children, if the parents provide more than half their support or if your parent’s other children could answer “no” to every question in Section 3, regardless of where they live • other people, if they now live with the parents and will continue to do so from 7/1/18 through 6/30/19, and if the parents provide more than half their support now, and will continue to provide support from 7/1/18 through 6/30/19

48. Section 5IRS Data Retrieval • This question asks if parents have completed their 2016 IRS income tax return • If parent(s) answer “Already completed,” they will be given the option to transfer their 2016 income tax information directly from IRS records to the FOTW • If parents indicate that they have recently filed their 2016 taxes (received extension), they may not be able to access their IRS data if they have filed taxes electronically within the last three weeks or by mail within the last eleven weeks • Instead, they should use their actual 2016 IRS tax return to complete the FOTW so the student does not miss any important financial aid deadlines 2016, 2016,

49. Section 5IRS Data Retrieval (continued)

50. IRS Data Retrieval Tool (DRT)