Financial Aid Workshop Class 2014 Financial Aid 101

Financial Aid Workshop Class 2014 Financial Aid 101

Sources of Financial Aid

Florida State Financial Aid l l Application available in December of senior year at www. floridastudentfinancialaid. org Students must apply to be considered for: – – Bright Futures Scholarship Florida Student Assistant Grant Florida Work Experience Program Jose Marti Scholarship

CSS Profile l l l The PROFILE is used to help award nonfederal student aid funds from certain colleges and universities The CSS/Financial Aid PROFILE is only available online starting October of senior year at: https: //profileonline. collegeboard. com There is a fee to apply and only a limited number of fee waivers are granted based on the financial information provided on the PROFILE

How to Apply for Federal Aid l l Complete an electronic Free Application for Federal Student Aid (FAFSA) on or after January 1 st (Contact college/university for exact deadline dates) FAFSA on the Web at: www. fafsa. gov

Financial Aid Includes: l Grants: Gift, doesn’t have to be repaid l Loans: Must be repaid with interest l Work-study: Earn money while in school

Get a PIN (Personal Identification Number) l Your PIN is your electronic signature l Request PIN – – l one PIN for the student one PIN for the parent www. pin. ed. gov Use PIN to file and make online corrections

Documents Needed l l l l l Social Security Number Driver's license (if any) 2013 W-2 Forms and other records of money earned Student’s (and spouse's if married) 2013 Federal Income Tax Return –(IRS Form 1040, 1040 A, 1040 EZ) Parents' 2013 Federal Income Tax Return (if dependent student) 2013 untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records Most recent bank statements Most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records Alien registration number or permanent residence card (if you are not a U. S. citizen). Keep these records! You may need them again. Do not mail your records with your signature page.

Which FAFSA form do I file? Attending College Use FAFSA Form Use IRS Income Tax From Beginning Summer 2013 Then Fall 2014 2013 – 2014 FAFSA 2014 – 2015 FAFSA 2012 2013 Beginning Fall 2014 – 2015 FAFSA 2013 It is important to note the type of deadline you are up against. Ask your college/university about their definition of an application deadline, whether it is the receipt date and time or the process date and time of the application.

How does it all work? Student/Parent Complete FAFSA ONLINE EFC is Determined SAR sent to student ISIR sent to schools Student decides which awards to accept, or decline. Loans amounts may be reduced Awards are mailed to you, or posted online Check your Status College Determines Awards student is eligible to receive

Sample of an Award Letter for Student with EFC: 000 Fl Academic (BF) Pell Grant Stafford Loan Work Study Other Sch. $3, 030 $5, 550 $3, 500 $2, 000 $15, 030 Estimated Cost -FSU Short ------ $19, 354 $4, 324

Things to Remember…. l l Apply for the State Financial Aid after December 1 st at www. floridastudentfinancialaid. org Apply for the CSS Profile (if required) as soon as possible before deadline set by school (registration opens in October) at www. collegeboard. com Request PIN number as soon as possible for FAFSA at www. pin. ed. gov Apply for FAFSA after January 1 st at www. FAFSA. ed. gov (Contact schools for exact deadline dates)

IMPORTANT l When you complete your FAFSA, please print out the confirmation page and bring it to Mr. Sierra, CAP Advisor in room 4120 with your name and ID number on the top of the page