FINANCIAL AID CLASS OF 2014

1. FINANCIAL AID CLASS OF 2014 BOLSA GRANDE HIGH SCHOOL

2. TOPICS WE WILL DISCUSS • What is financial aid • Expected Family Contribution (EFC) • What is financial need • Types and sources of financial aid • Free Application for Federal Student Aid (FAFSA) • Special circumstances • AB 540

3. WHAT IS FINANCIAL AID • Financial aid is MONEY provided to students and families to help pay for postsecondary educational expenses

4. WHAT IS THE EXPECTED FAMILY CONTRIBUTION (EFC) • Amount family can reasonably be expected to contribute • Stays the same regardless of college • Two components • Parent contribution • Student contribution

5. WHAT IS FINANCIAL NEED Cost of Attendance –Expected Family Contribution ________________________________ = Financial Need

6. TYPES OF FINANCIAL AID • GRANTS-Free money given to students based on the family’s financial need. • SCHOLARSHIPS- Free Money given to students, Awarded on the basis of merit, skill, or unique characteristic. • WORK STUDY- Program in which students can work, study, and get paid. • LOANS- Borrowed money to help cover the cost of a college/university education.

7. SOURCES OF FINANCIAL AID • Federal government • States • Private sources • Civic organizations and churches • Employers

8. CAL GRANTS • 2 Steps to Apply for Cal Grants- before 03-02-2014 • Complete Cal Grant GPA Information Form and return to your English teacher. • Complete FAFSA by March 02, 2014 • Cal Grant A: minimum 3.0 GPA • CSU- $5,472/yr. • UC- $12,192/yr. • Private- $8,056/yr. • Cal Grant B: minimum 2.0 (1st yr. receive $1,473) • Community College- $1,473 • CSU- $1,473 + $5,472/yr. • UC- $1,473 + $12,192/yr. • Private- $1,473 + $8,056/yr. • Cal Grant C: no minimum GPA • For vocational or technical programs resulting in a certificate or AA program. • Community College- $547 • Other Non-Community College Schools- $547 + $2,462

9. FAFSA • A standard form that collects demographic and financial information about the student and family • Complete the FAFSA on the web at: www.fafsa.gov after January 1, 2014 • FAFSA deadline is March 2, 2014

10. FAFSA • Information used to calculate the Expected Family Contribution or EFC • Colleges use EFC to award financial aid • Must be a US citizen or Permanent Resident • Colleges may set FAFSA filing deadlines

11. FAFSA ON THE WEB • www.fafsa.gov • 2014–15 FAFSA on the Web available on January 1, 2014 • FAFSA on the Web Worksheet: • Posted on bolsagrande.org, under financial aid • Used as “pre-application” worksheet • Questions follow order of FAFSA on the Web

12. FEDERAL STUDENT AID PERSONAL IDENTIFICATION NUMBER (FSA PIN) • Website: www.pin.ed.gov • Sign FAFSA electronically • May be used by students and parents throughout aid process, including subsequent school years

13. FAFSA On The Web Worksheet Section 1: General student info. Section 2: Student’s dependency status Section 3:Information about parents: tax, income, and assets Section 4: Information about the student: Tax, income, and assets

14. SIGNATURES • Required • Student • One parent • Format • Electronic using PIN • Signature page

15. FAFSA PROCESSING RESULTS • Students that do not include an e- mail address on the FAFSA will receive a paper SAR in the mail. • Students that do provide an e-mail on the FAFSA will receive an E-mail notification containing a direct link to student’s electronic SAR • Student with PIN may view SAR on-line at www.fafsa.gov

16. FAFSA PROCESSING RESULTS • Institutional Student Information Record (ISIR) sent to colleges listed on FAFSA approximately 10 to 14 days after FAFSA submitted • College reviews ISIR • May request additional documentation, such as copies of federal tax returns

17. Student Aid Report (SAR) • The SAR is a report from the federal processor summarizing the information you provided on the FAFSA • Receive within 72 hours if you submitted the FAFSA online (up to 2 weeks for paper) • Review right away for accuracy • Lists your EFC for the school year • Located at the top of your SAR • No dollar sign next to it (e.g., 02500)

18. Sample SAR email • Includes a link to your individual SAR • See example on page 13

19. Sample SAR

20. STUDENT AID REPORT (SAR) • Review data for accuracy • Update estimated information when actual figures are available

21. California Aid Report (CAR) • If you’re offered a Cal Grant, you’ll receive an email from the California Student Aid Commission called a CAR • You must list a valid email address on your FAFSA so you can receive a CAR • The CAR lists the tentative Cal Grant award amount • If you did not get a Cal Grant, you’ll receive notification explaining why • See sample CAR on page 13

22. MAKING CORRECTIONS If necessary, corrections to FAFSA data may be made by: • Using FAFSA on the Web (www.fafsa.gov) if student has a PIN; • Updating paper SAR (SAR Information Acknowledgement cannot be used to make corrections); or • Submitting documentation to college’s financial aid office

23. SPECIAL CIRCUMSTANCES • Cannot report on FAFSA • Send written explanation to financial aid office at each college

24. SPECIAL CIRCUMSTANCES • Change in employment status • Medical expenses not covered by insurance • Change in parent marital status • Unusual dependent care expenses • Student cannot obtain parent information

25. AB 540 • Allowsundocumentedstudentstopay in-statetuitionfees at California’scolleges and universities. • Requirementsfor AB 540 • Attend a California High School for 3 or more years • Graduate from a California high school • Register at an accredited public institution of higher education in California • If applicable, complete an affidavit to legalize immigration status as soon as a student is eligible

26. AB 540 – Undocumented students • Undocumented students should complete the California Dream Act Application at: www.caldreamact.org • Students/families can email: caldreamact@csac.ca.gov • Additional resources available at: • www.maldef.org and www.e4fc.org

27. California Dream Act of 2011 (AB 130) • Undocumented/underdocumented students may also qualify for: • Institutional scholarships • Privately funded scholarships • Must meet qualifications for AB 540 in-state tuition rates • Check with your college admissions office More information on pages 9 & 22

28. California Dream Act of 2011 (AB 131) • Signed into law October 8, 2011 • Undocumented or other nonresident students may also qualify for • Cal Grants and other applicable state aid • The Board of Governors (BOG) Fee Waiver Program • Institutional aid • Students begin applying for Cal Grants in January 2014 Check with your college financial aid office for more information about the BOG Fee Waiver (at community colleges only) and institutional aid timelines and processes

29. AB 540

30. Free help with the FAFSA • Attend Financial Aid Overview Wednesday, January 15 (6-7 pm) • Attend Financial Aid Line by Line Workshop Wednesday, February 5 (6-7:30 pm) • Attend after school workshops Room 306 • Call: 1-800-433-3243 • WebGrants for students: www.webgrants4students.org

31. Free help with the FAFSA • CASH FOR COLLEGE • January 16, 2014 (5:30-9pm) • Garden Grove High School 11271 Stanford Ave. Garden Grove, CA 92840 • Counselors will be available to help with FAFSA line by line and Dream Act application

32. QUESTIONS?