20082009 Financial Aid Application Overview

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2008-2009Financial Aid Application Overview

• How To Apply - Updates for 2008-2009
• What to Expect in communication after applying
• SAR/ACG
• SSACI CHIPS Reporting/SSACI awards and CHIPS
  relationship to ACG
• College Goal Sunday

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2008-2009 Financial Aid Process

• How To Apply?
• Electronic Application Methods
• FAFSA on the Web
• Filling Out a Simplified FAFSA
• Saving the FAFSA with a Password
• Signing the Application PIN or
  Signature Page
• Submitting the FAFSA Getting an
  Est. EFC
• Paper Application Method

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How the FAFSA is Processed

• Once the FAFSA is transmitted to the federal
  processor use the data to calculate an EFC
• Student receives an email or an output document
  (SAR) within a few days to three weeks of
  submitting the FAFSA depending on the type of
  FAFSA submitted

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Type of SAR SAR Arrival
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What to Expect After Applying

• Checking the Status of a FAFSA
• Where the Federal Processor sends the FAFSA
  information
• What the student receives after applying

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The Student Aid Report (SAR)

• The SAR and Academic Competitiveness Grant (ACG)
• Data Release Number (DRN)
• Viewing SAR information Online
• SAR Acknowledgement

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ACG Grant

• Must be a Pell Grant Recipient
• Eligibility 750 first AY/ 1300 second AY
• US Citizenship required
• Must be enrolled full time
• Must have completed a rigorous course of study in
  HS defined in Indiana Core 40 and Academic
  Honors are eligible. Check with enrolling college
  for other rigorous courses of study
• www.ifap.ed.gov/cod/attachments/0708CODVol6Sec9Rig
  CIPCodesSept07.pdf

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Making Changes

• Corrections and Updating of FAFSA
• What FAFSA information Can or Cant be Changed
• How to Make Allowable Changes
• Dependency Status Overrides and Special
  Circumstances
• Adding a School

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State Student Assistance Commission of Indiana

• Grant Division - 317-232-2350 or
• 1 888- 528-4719
• www.ssaci.in.gov
• Most state grant programs are awarded towards
  tuition and regularly assessed fees
• www.in.gov/ssaci/programs

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High School Guidance Counselor Resources On SSACI
Website

• Counselor Information provides
• ADVISORIES on state grant resources available
  for their reference in mentoring students
• NEWS/UPDATES on SSACI state award programs,
  particular ones that counselors are involved in
  (CHIPS)
• www.in.gov/ssaci/counselorinformation/

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SSACI Website Counselor Information Section
www.ssaci.in.gov/ssaci/counselorinformation/
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Why is eStudent on SSACIs website such a
critical Go To area for students?http//www.in.
gov/ai/appfiles/eStudent/

• eStudent SSACIs on-line secure student account
  access. It is the students responsibility to
  monitor and make any warranted changes noted
  below
• View and resolve SSACI FAFSA edit issues with the
  federal processor on or before the SSACI edit
  correction deadline of June 10, 2008
• Students may also make certain changes on-line
  (change of address, first college choice change
  so that state grant award may be made for the
  college student is attending, reprint SSACI state
  grant award notification, Core 40 or AHD diploma
  type designation if warranted, and view students
  state grant usage)

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SSACI eStudent Register/Log-In
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Three Factors Needed to Calculate a Frank
OBannon Grant

• Tuition and regularly assessed fees not beyond
  CAP at the school student is attending
• Subsidy rate tied to high school diploma earned -
  if graduated 1997 or after
• 100 - Academic Honors Diploma with 3.00/4.00
  scale
• 90 - Core 40 Diploma with 2.00/4.00 scale
• 80 - For all others, including GED
  students, students
  who graduated from non-Indiana high schools
• Expected Parent Contribution (PC) or Family
  Contribution (EFC) if Independent for financial
  aid purposes, calculated from FAFSA information
• A change to any one of the factors above may
  have an impact on the amount of the state grant
  award.

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Core 40 and Honors Internet Update System (CHIPS)

• CHIPS - Core 40 and Honors Internet uPdate System
  A Web-based application that allows high school
  counselors to report qualifying diploma
  graduating seniors for possible increased funding
  of tuition and regularly assessed fees. The
  reporting of information could mean an state
  grant award increase of more than 8,000 over
  eight semesters.
• Academic Honors Diploma (minimum GPA of 3.0 on a
• 4.0 scale)
• Core 40 Diploma (minimum GPA of a 2.0 on a 4.0
• scale)

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CHIPS Reporting

• The marriage of information process between
  CHIPS and the FAFSA takes place systematically
  only during senior year of high school.
  Thereafter, students must initiate review.
• Students must file a FAFSA during their senior
  year for a marriage of information to occur,
  therefore encourage all students to file even if
  student is delaying entry into college
• Accuracy of data entry into CHIPS is extremely
  important - otherwise, CHIPS data will not match
  FAFSA data and additional state grant eligibility
  (AHD or Core 40 grant enhancement dollars and/or
  21st Century Scholarship AND receipt of the ACG
  Grant) may be in jeopardy

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Core 40/AHD on eStudent
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SSACI Grant Application Timeline

• Student - Files the FAFSA by the March 10th
  receipt date deadline
• High School Guidance Counselor - Reports Core 40
  and Academic Honor Students to SSACI (CHIPS)
• Twenty-first Century Scholars Program SSACI
  updates database to reflect the students Core
  40/Academic Honors status
• SSACI Incorporates CHIPS, 21st Century Scholars
  information and FAFSA information available for
  state grant estimated awards to be calculated and
  shared with colleges. Therefore the CHIPS
  reporting by high school guidance counselors (
  deadline for submission into CHIPS is Friday
  March 21, 2008) is crucial for the next step
• Colleges Make financial aid preliminary award
  letter offers to students more accurate if CHIPS
  data is accurate too.
• High School Guidance Counselor makes needed
  corrections, and addition and deletion of
  students to the CHIPS database by deadline of
  Friday June 27, 2008
• SSACI - Sends Edit Notification to students(one
  time in mid-April) with FAFSA problems discovered
  that must be resolved with the federal processor
  prior to the June 10th deadline for 2008-2009 in
  order for the student to still be in the
  applicant pool for the state grant eligibility
  determination in July
• SSACI Incorporates CHIPS, Twenty-first Century
  Scholars info, and FAFSA info Into GRADS
• SSACI - Sends Grant Notification to students in
  mid July
• Colleges - Reconcile for funds to SSACI on
  students behalf starts in September

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We Need YOU!

• College Goal Sunday will be on Sunday, February
  17, 2008!
• Volunteer Call Out CGS is an event held
  throughout the U.S. to help college-bound
  students in the financial aid process. Your
  valued expertise is needed!
• If you would like to volunteer An announcement
  is forthcoming in the form of an email through
  CounselorTalk that will indicate where the 36
  event sites will be located throughout the state,
  and how to register to volunteer or you may go
  directly to the Indiana website at
  http//www.collegegoalsunday.org

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The End