Morgantown High School September 27 2017 September October

Morgantown High School September 27, 2017

September: October: § Become an admitted student! § Submit FAFSA starting Oct. 1 at § Begin monitoring college email for updates § Seek out private scholarships § Students apply for an FSA ID at fsaid. ed. gov § Parents apply for an FSA ID at fsaid. ed. gov fafsa. ed. gov § Submit WV PROMISE Scholarship application § Schedule final ACT/SAT tests § Begin monitoring student account for requirements which could prevent financial aid

November & December: February: § Thanksgiving break is a great time to § WV PROMISE scholars must complete apply for scholarships! § Continue monitoring college email and a FAFSA and the PROMISE application by March 1 student account December through March January: § Make sure you are an admitted student with your most recent high school transcripts and ACT/SAT scores on file Depending on the institution, financial aid offers will begin going out.

• fsaid. ed. gov • Needed by both student & parent • Used for FAFSA & studentloans. gov

§ Students/parent doesn’t set up an FSA ID (or waits to set one up) § Not setting up their own FSA ID § Same email address is used to set up both student and parent accounts § Social Security Number doesn’t match with SSA § Students think they have to be 18 to apply Department of Education: 1. 800. 557. 7394

§ Some aid is limited and awarded on a first-come, first-served basis to eligible students. § Receive your financial aid offer earlier. § LESS PRESSURE! § If additional documentation is needed, this gives time for schools to notify students and for students to provide information.

§ Gives students and parents ability to transfer data from IRS to the FAFSA. § Income from IRS will be masked and won’t be able to be changed – so the information is accurate § Saves time! § Increases accuracy of tax information. § Can help minimize need for additional follow-up to confirm tax information. § Not everyone is eligible to use the tool, but the FAFSA will guide you!

To be eligible students/parents: § Must have a valid SSN § Must have filed a 2016 Federal Tax Return for the United States § Taxes must have been filed more than 3 to 8 weeks ago § Must have an FSA ID § Marital status has not changed since December 31, 2016 Students/parents not eligible: § Filed an amended 2016 Federal Tax Return § Not filing 2016 taxes § Taxes filed recently § Tax filing status is: § Married Filing Separately § Unmarried but both parents live together § Head of Household and marital status is married § Filed a Puerto Rican or foreign tax return

Section 1 - - Student Information Section 2 –- Student Dependency Status Section 3 –- Parental Information Section 4 –- Student Finances Section 5 – List of Schools (up to 10 online)

§ Answer only questions applicable to student/parent § Reduces the number of errors § Processed quicker § Date received is the date submitted electronically § Corrections can be made electronically § Parents with multiple children in college will able to transfer their information to other children’s applications § Student and one parent (if dependent student) must electronically sign the FAFSA using the FSAID

§ Application is processed in order it was received usually within 72 hours § If you provide e-mail address, you will receive an e-mail with a “link” to view your Student Aid Report (SAR) on-line § Important that you review your Student Aid Report § Any time you submit something online with FAFSA on the Web, you will be given a “Confirmation Page” to confirm your transaction. § Always print and keep your confirmation page for future reference. It may prove helpful if a dispute arises.

§ Not listing high school information § Not registering for Selective Service § Parent filled out the FAFSA as the student § Student name or Parent name and SSN or date of birth do not match § Reported taxes paid is = or > Adjusted Gross Income (AGI) § Missing student and/or parent signature (with your FSA ID) or missing parental information § Student who is in National Guard marked he/she is a Veteran § Student with one parent alive marked that he/she is an orphan § Student marks he/she is in a legal guardianship situation § Filed FAFSA for the wrong year

• If your parents are living together and married or not married – both • If your parent is widowed or was never married – that parent • If your parents are divorced/separated and don’t live together – the parent you lived with more during the past 12 months. • If you lived the same amount of time with both, who provided the most financial support? • If the parent you are reporting has remarried, you must include your stepparent’s information.

• The U. S. Department of Education randomly selects; • Student must comply with institutional request for information or they will not receive financial aid • Use either IRS Data Retrieval Process, or § Must contact IRS to request a tax transcript be sent at www. irs. gov or by calling 1 -800 -908 -9946

Allowable Costs (Educational Expenses) § Tuition & Fees § Room & Meals (on or off campus) § Books & Supplies § Personal Expenses § Transportation Expenses Other Possible Costs § Study abroad § One-time computer purchase

§ Based on information provided on FAFSA such as: § Income § Assets (excluding house you live in) § Family Size & Number of Family Members in College § Age of Parents § Helps institution know what types of aid they may offer § May change from one aid year to the next THIS IS NOT THE DOLLAR AMOUNT THE FAMILY IS EXPECTED TO CONTRIBUTE TO THEIR STUDENT’S EDUCATION

§ Loss of employment § Reduction of income § Separation or divorce § Death of parent or spouse § Reduction or loss of child support § One-time income (such as a bonus)

Understanding dependency for financial aid purposes, what adjustments can be made to dependency, and working with homeless students.

§ Born before January 1, 1995 for the 2018 -19 academic year § At any time since the student turned 13, both parents were deceased § At any time since the student turned 13, he or she was a ward/dependent of the court § At any time since the student turned 13, he or she was in foster care § Married – may require supporting documentation § Currently is or was an emancipated minor § Currently is or was in a legal guardianship § Homeless or at risk of being homeless § Have (or will have) children for which the student will provide more than half of their support for the year (i. e. from July 1, 2018 – June 30, 2019 for the 2018 -19 year) § Have dependents (other than children or spouse) who will live with the student and the student will provide more than half of their support.

Foster Care or Dependent/Ward of the Court At any time since the age of 13, student was removed from his/her home and placed under care and custody of the state. They may be placed into any of the following: § Home of a noncustodial parent § Approved home of a relative § Approved home of a non-relative extended family member (ex. family friend) § Foster home § Group home Determination and Documentation: The Financial Aid Office must have a letter from the state Department of Human Resources stating the student has been in foster care (after age of 13)

Emancipated Minor “Emancipation” occurs when a person under 18 voluntarily goes to court and is legally released from the custody and care of his/her parents. Determination and Documentation: Student must provide a copy of the legal emancipation agreement from the court systems to the Financial Aid Office. Legal Guardianship Legal relationship in which student has a guardian (other than a parent) who was appointed by the court in the student’s state of legal residence. Determination and Documentation: Student must provide a copy of the court ordered “legal guardianship” documents pertaining to that student.

What Do You Do if They Have Custody Instead? 1. Answer “No” to the question on the FAFSA about Legal Guardianship 2. Submit your FAFSA without parental information 3. Contact the Mountaineer Hub for WVU regarding a dependency appeal • You must submit court documentation showing the custody situation with the appeal

§ Students can appeal dependency status in certain circumstances, usually extreme, where they cannot obtain the required parental information § Must submit documentation proving independent status § Students CANNOT file a dependency review because: § Student doesn’t live in parents’ home § Student is self-supporting § Student is not claimed on parent taxes or as a tax exemption § Parents cannot afford or refuse to help with college or living expenses § Parents are unwilling to provide their financial information to complete the FAFSA

§ Eligible students § Undergraduates § Cannot already have a bachelor’s degree § Amounts § Determined by enrollment status and EFC § Up to $5, 920 maximum for 2017 -18 § Sliding scale… § 0 EFC = $5, 920 § 5328 EFC = $606

• Eligible students –Undergraduates pursuing first baccalaureate or professional degree –Awarded first to students with exceptional financial need –Priority to Federal Pell Grant recipients • Annual award amounts –$100 minimum –$4, 000 maximum

• Deadline to submit the FAFSA is April 15, 2018 • Two levels, $2, 700 per year and $2, 300 per year (2017 -18) -Pell Eligible students (EFC 0 to 5328) may receive a maximum of $2, 700 -Students with an EFC of 5329 to 10000 may receive a maximum of $2, 300 • Requires full time enrollment • Students must have a 2. 0 high school GPA to be eligible • Students must maintain a 2. 0 GPA and earn at least 24 college credits each year in order to renew (summer may not be utilized) – maximum of 8 semesters • Students and parents must be residents of West Virginia

§ Employment during school § Job may be on or off campus § Income is taxable (state and federal) § Excluded from student’s total income reported on next year’s FAFSA § Program varies from school to school § Some institutions may have a student employment office for students who are not eligible for federal work study

Core Requirements § § English – 4 credits Mathematics – 4 credits Social Sciences – 4 credits Natural Sciences – 3 credits The core grade point average includes all core classes; grades are calculated using the County grading policy

§ PROMISE Application available on 10/1/17 at cfwv. com § Students must file FAFSA their first year. Deadline is March 1, 2018 § Make sure student uses correct SSN § Student creates user name/password & security question, then may complete the PROMISE application § Students may go back and view/edit their application and watch the status § Students are encouraged to keep a copy of the confirmation page once the application is submitted § Students may request to defer for up to one year if they attend an out of state school, but it may only be the first year of PROMISE eligibility – must meet eligibility renewal requirements at the out-of-state school

§ 3. 00 high school GPA, both in core and overall courses § 22 on the ACT test (incl. a minimum of 20 in each of the 4 subject areas), or § 1100 on the “new” SAT, given in March 2016 or later. (must include a minimum of 510 in math and 540 in evidence-based reading & writing § Test scores must be attained from a single test date (no super-scoring) § Last dates to attempt eligibility scores are the July 2018 ACT & June 2018 SAT test dates § Award is a maximum of $4, 750 per year ($2, 375/semester) for up to 8 semesters on undergraduate study only.

§ PROMISE is renewable (for up to 8 semesters for a 4 year degree or 4 semesters for a 2 year degree) as long as the student maintains § a 2. 75 cumulative grade point average on a 4. 0 scale the first year and a 3. 0 cumulative grade point average in subsequent years. § Complete and earn a minimum of 30 credit hours in each 12 -month period for a student who receives a two-semester award in an academic year. If a student receives a single-semester award, the student must complete and earn a minimum of 15 credit hours in the academic year.

• Merit-based scholarship/forgivable loan • Online application at cfwv. com opens October 1 --- March 1, 2018 deadline • Preference given to WV residents • 3. 0 high school gpa to be eligible and 3. 0 in college to renew • Student must be enrolled or accepted for enrollment in an engineering, science, or technology program leading to a certificate or an associate or baccalaureate degree at an eligible institution of higher education • Requires the student to work in the engineering, science, or technology field in the State of West Virginia one year for each year the scholarship is received, otherwise it must be repaid with interest (5%) • Maximum award is $3, 000/yr four undergraduate years

§ Deadline to be admitted to WVU is February 1 § Super-scoring § No application required § Scholarship eligibility may increase as new information is received before Feb. 1 § The amount is based on the student’s high school GPA and ACT/SAT super- score

§ Resident Scholarship of Distinction § Level 1 = $4, 000 per year § Level 2 = $3, 000 per year § Level 3 = $2, 500 per year § Level 4 = $1, 500 per year financialaid. wvu. edu/home/scholarships/freshmen/residents

§ Annual loan limits and limits to the total amount you can borrow as an § § § undergraduate Subsidized Stafford: must demonstrate “need” – interest paid by the Government while student is in school at least half-time Unsubsidized Stafford: “need” is not a consideration Repayment does not begin until 6 months after student drops below 6 credit hours Loan Fee of 1. 066% for loans disbursed 10/1/2017 and before 10/1/2018 Interest Rate (variable-fixed) 4. 45% until July 1, 2018 for undergraduates

Grade Level FEDERAL STAFFORD ANNUAL LOAN LIMITS Subsidized Max Unsubsidized Max Dependent Annual Limit Additional Unsubsidized (Independent Student or Parent PLUS Denial) Total Annual Freshman $3, 500 $2, 000 $5, 500 $4, 000 $9, 500 Sophomore $4, 500 $2, 000 $6, 500 $4, 000 $10, 500 Junior $5, 500 $2, 000 $7, 500 $5, 000 $12, 500 Senior $5, 500 $2, 000 $7, 500 $5, 000 $12, 500

FEDERAL PLUS LOAN § Parent borrows on behalf of dependent undergraduate § Approval subject to credit check § Loan limits § Annual limit: cost of attendance less other aid § Aggregate limit: none § Interest rate variable-fixed at 7% until July 1, 2018 § Loan fee of 4. 264% until October 1, 2018 § Repayment begins 60 days after final disbursement or 6 months after student drops below half-time enrollment § studentloans. gov

§ As a general rule, never pay money to get scholarships or apply for financial aid and look out for “guarantees” that are often scams. § WVHEPC and colleges provide free financial aid counseling and assistance.

FAFSA COMPLETION NIGHTS AT MHS Staff from WVU Student Financial Support & Services and The Mountaineer Hub will be assisting with FAFSA completion on… -Wednesday, October 18 – 6: 30 to 7: 30 -Tuesday, December 5 – 6: 30 to 7: 30

Division of Financial Aid West Virginia Higher Education Policy Commission 1018 Kanawha Boulevard East, Suite 700, Charleston, WV 25301 (304) 558 -4618 www. hepc. wvnet. edu

QUESTIONS Mountaineer Hub nd 2 Floor – Evansdale Crossing 62 Morrill Way Morgantown, WV 26506 304 -293 -1988