Welcome To

1 / 23

About This Presentation

Title:

Description:

Number of Views:4

Avg rating:3.0/5.0

Slides: 24

Provided by: neumannEd6

Learn more at: https://www.neumann.edu

Transcript and Presenter's Notes

Title: Welcome To

1
Welcome To

2
Topics of Discussion

3
How do I apply for a FAFSA?

4
www.fafsa.ed.gov
5
Federal Student Aid Personal Identification
Number (FSA PIN)

Website www.pin.ed.gov
Sign FAFSA electronically
Not required, but speeds processing
May be used by students and parents throughout
aid process, including subsequent school years

6
What does a FAFSA do?

Calculates a familys EFC (Expected Family
Contribution)
Determines your eligibility for need-based aid
COA (Cost of Attendance) EFC Need
First step in allowing you to apply for funding
through the Federal Direct Loan Program
Allows you to apply for certain grants and
scholarships

7
FAFSA Tax Information

You must choose whether or not to transfer data
to the FAFSA.
Participation is voluntary but will expedite the
processing of financial aid.
The process reduces the amount of documents
requested by financial aid office if the FAFSA is
selected for verification.
Offices can no longer accept a copy of tax
returns in most cases.
Tax return transcripts from the IRS are required
if tax information is requested for verification.
You may request a copy of your tax return
transcript at www.irs.gov. Call the IRS at
1-800-829-1040 with any questions.

8
IRS Data Retrieval Tool

9
What is the process of verification?

Please submit all requested information to the
Office of Financial Assistance as soon as
possible to ensure timely processing of your
final award letter.
There are five different tiers of verification.
Only return the documents that are requested.
The verification process is not complete until
all information is received and reviewed. Please
note that additional documentation may be
requested at any time during the process and
financial aid awards may change.

10
Academic Awards
11
Need-Based Aid Programs

12
State grant deadlines

13
PHEAA

Pennsylvania residents will be provided a "one
stop shop" opportunity to connect directly from
the FAFSA on the Web (FOTW) to the state grant
form.
For students who do not elect to use the direct
link, an email will be generated directing them
to Account Access to complete the SGF.
Students who do not provide a valid email
address, PHEAA will communicate by postcard via
U.S. mail to encourage online completion.
The Certification Statement must be signed and
mailed to PHEAA to complete the application
process.

14
What is a Federal Work Study Job?

Funds are earned by working in a campus
department
Award is not deducted from your tuition bill
Students can work no more than 8-10 hours per
week, depending on department needs
Students are paid bi-weekly
Original documents that may be submitted for
application
Drivers License
Birth Certificate
Social Security Card
Photo Student ID Card

15
What is a Direct Student Loan?

Federal Direct Student Loans (guaranteed loans)
Estimated interest rate on all Direct Loans is
6.8
Subsidized loan is based on need
(government pays the interest while student in
school)
Unsubsidized loan is not based on need
(option to pay interest while student in school)
Student is required to complete an MPN (Master
Promissory Note) and Entrance Counseling at
www.studentloans.gov
Interest rates are subject to change at the
discretion of the federal government.

16
This is the Web site!!!!!!
17
What is a Parent Plus Loan?

Parents may apply for a Plus Loan at
www.studentloans.gov
Estimated interest rate 7.9 with a 4.304
origination fee
Credit check is required
If credit is denied, student is eligible for
additional unsubsidized portion of Direct Loan
Repayment starts 6 months after the first
disbursement
Parent may defer payments while student is in
school
(up to six months after student leaves school)
Rates are subject to change at the discretion
of the federal government.

18
What is a Private Alternative Loan?

A Private Alternative loan is based on credit
Most need a credit-worthy co-signer, does not
have to be the parent
Lenders are offering both fixed and variable
interest rate loans without any fees
The better your credit the better your rate
Several lenders also give a discount on the
interest rate for existing customers
It is in your best interest to research all your
options to ensure you are getting the most
competitive product to meet your educational
expenses
Visit www.elmselect.com for a commonly-used list
of lenders
Interest rates are subject to change at the
discretion of the lender.

19
Outside Scholarships

Avoid all sites that request you to pay for their
services.
http//apps.collegeboard.com/cbsearch_ss/welcome.j
sp
http//go.salliemae.com/scholarship/
http//www.apiasf.org/scholarships.html (Asian
American)
http//www.fastaid.com/
http//www.fastweb.com/
http//www.finaid.org/otheraid/majors.phtml
(based on academic major)
http//www.finaid.org/scholarships/other.phtml
http//www.gmsp.org/ (Gates Millennium Scholars)
http//www.jackierobinson.org/apply/application.ph
p (Minority High School graduate)
http//www.nsna.org/FoundationScholarships/FNSNASc
holarships/UndergraduateScholarship.aspx (Nursing
grants/scholarships)
http//www.petersons.com/college-search/scholarshi
p-search.aspx
http//www.princetonreview.com/sallie-mae-scholars
hip.aspx
http//www.scholarships.com/
http//www.thesalliemaefund.org/smfnew/sections/se
arch.html
http//www.uncf.org/sections/ForStudents/SS_Schola
rships/scholarships.asp (African American)
http//www.usafunds.org/students/Pages/Access2EdSc
hol.aspx