La Sierra High School Presents: La Sierra High School Presents: Financing Education Beyond High SchoolFinancing Education Beyond High School

Types and sources of financial aidRequired financial aid application formsHow to complete the Free Application for Federal

Student Aid (FAFSA) and the Cal Grant GPA Verification Form

Answers questions you may have

What Will You Learn At This What Will You Learn At This Workshop?Workshop?

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Apply at fafsa.ed.gov NOT

fafsa.com (scam)

Never pay to apply for financial aid!

$$$-Cost-$$$

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- Varies depending on Institution

RCC-$3,136CSUF-$15,506 or $24,320UCR-$24,800 or $34,300CBU-$32,272 to $53,430

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How Much Financial Aid Might We Receive?

Types of Financial Aid

Gift Aid - Grants or scholarships that do not need to be repaid

Work - Money earned by the student as payment for a job on or off campus

Loans - Borrowed money to be paid back, usually with interest

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Sources of Financial Aid

Federal government

State government

Colleges and universities

Private agencies, companies, foundations, and parents’ employers

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Cal Grants

Cal Grant A Entitlement Awards – for high school seniors and recent high school grads with a Grade Point Average (GPA) of at least 3.0, family income and assets below the state ceilings, who demonstrate financial need

Cal Grant B Entitlement Awards – for high school seniors and recent high school grads with a GPA of at least 2.0, who come from disadvantaged or low income families, whose family income and assets are below the state ceilings, and who demonstrate financial need

Cal Grant C Awards - for students from low income families pursuing vocational programs of study

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To be eligible for a Cal Grant, the student must also:be a U.S. citizen, eligible

noncitizen, or AB540 student

be a California resident attend an accredited

eligible California college or university at least half-time

Eligibility for Cal Grants

Residency and Cal Grant Eligibility for 2014-2015

• parents have been legal residents of California for one year immediately prior to September 20, 2014, or

• student has lived in California with other legal California residents, other than parents, for two years immediately prior to September 20, 2014, or

• parents who are active duty military, stationed in California at the time the student enrolls in college, or parents’ military home of record is California

• If unmarried and under 18 years of age, the student will be considered a legal If unmarried and under 18 years of age, the student will be considered a legal resident of California if:resident of California if:

• If married or 18 years of age or older, the student establishes his/her own residence status. The student must be a legal resident of California for one year prior to September 20, 2014

• Undocumented students who qualify for AB540 in-state tuition satisfy Cal Grant residency requirements

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2014-2015 Cal GrantApplication Requirements

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See your high school to pick up a Cal Grant GPA Verification Form if you haven’t already turned one in

• Complete and submit each year: Jan 1-Mar 2Free

Application for Federal

Student Aid (FAFSA)

OR

Cal Grant GPA Verification Form

If eligible under AB540, students should complete theCalifornia Dream Act Application: www.caldreamact.org

Possible Cal Grant and Federal Pell Grant Maximum Awards

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If the student qualifies for Cal Grant, amounts vary depending on the school the student attends, financial need, year in college and enrollment status (full or part-time)

If the student qualifies for the Federal Pell Grant, amounts vary depending on family contribution and enrollment status (full or part-time)

Other eligibility requirements may apply

Cal Grant* (Up to $12,192)1 FAFSA or

California Dream Act Application2 Your GPA3 Apply by March 2

Federal Pell Grant (up to $5,645)1 FAFSA

= Up to $17,837 maximum annually

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KNOW WHICH SCHOOLS CAN RECEIVE FEDERAL FINANCIAL

AID

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* Check for eligible schools at:

www.csac.ca.gov

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Starting with the Fall of 2014-15, the Middle Class Scholarship (MCS) will be phased in to assist new and continuing UC and CSU undergraduate students with family incomes up to $150,000

To apply. students should submit FAFSA For AB540 students, the California Dream Act Application Note: no GPA is required

MCS awards vary based on the number of eligible students, the institution, and state funding allocated. In 2014-15, maximum awards will range up to $1,706

Amounts are determined after Federal Pell Grants, Cal Grants and institutional grants are awarded. Students cannot receive both grant aid and the MCS

Qualifying students will be notified by the California Student Aid Commission In 2017-18, when fully funded, the maximum awards will be no more that 40

percent of UC and CSU system-wide tuition and fees

Middle Class Scholarship (MCS)

California Chafee Grant• The California Chafee Grant program provides up to

$5,000 annually to current and former foster youth for college or vocational training at any accredited college in the U.S., based on available funding

• To be eligible, foster youth must have been in California foster care on their 16th birthday and not have reached their 22nd birthday before July 1, 2014

• Foster youth are encouraged to apply during their senior year of high school

• To apply, the foster youth must complete:• 2014-2015 FAFSA• California Chafee Grant Program Application• AB540 students may also be eligible

To apply for a Chafee Grant, go to:

www.chafee.csac.ca.gov

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Types of Applications

FAFSA---$$$$$$$$$$$$$$$$$$$

Cal Grant GPA Verification Form Other applications or forms as required by the

college such as:

• 2013 federal tax returns (along with all schedules and W-2s) or other income documentation

• CSS/Financial Aid PROFILE

• Institutional Scholarship and/or Financial Aid Application

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Undocumented student covered under AB540 should complete the California Dream Act Application

FAFSA Information & TipsFile early, but no later than

March 2 each year to be considered for a financial aid

Use estimated 2014 income information if taxes are not complete at time of FAFSA submission--don’t wait till taxes are filled

Student and at least one parent whose information is reported must complete and sign the FAFSA-sign with PIN

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FAFSA WORKSHOPS

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• Application workshops starting in Jan. During the day for students—in the evenings for parents.

• Internet application used by students and parents to complete electronic FAFSA at:

www.fafsa.gov• Sophisticated on-line edits and skip logic help

avoid errors• On-line help is available for each question• Student and one custodial parent should get a

federal PIN to sign FAFSA at:www.pin.ed.gov

PIN (Personal Identification Number) Needed to sign and access the FAFSA

Both student and one parent need PINs to sign the FAFSA electronically

May be used to:• Check on FAFSA status• Verify and correct FAFSA data• Add additional schools to receive FAFSA

data• Change home and e-mail addresses

PIN will be generated only if a valid email address is provided

Federal PIN

Apply for student and parent PINs at:

www.pin.ed.gov

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Another Useful Form -FAFSA Checklist and Helpful Hints

FAFSA Checklist is need to: •Help students to gather important information•Will be used in the January workshops to complete the FAFSA•Is a required assignment for Gov/Econ

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You can complete and submit your online FAFSA application starting Jan. 1stFor more information on federal student aid,For more information on federal student aid,

visit: visit: www.StudentAid.govwww.StudentAid.gov

You can also talk with your college’s financial aid office

about other types of student aid that may be available24

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Contact the Financial Aid Office if there are circumstances which affect a family’s ability to pay for college such as:Loss or reduction in parent or student income or assetsDeath or serious illnessNatural disasters affecting parent income or assets such as

the recent California wind storms, wild fires, floods, or mudslides

Unusual medical or dental expenses not covered by insurance

Reduction in child support, Social Security benefits or other untaxed benefits

Financial responsibility for elderly grandparents, orAny other unusual circumstances that affect a family’s ability

to contribute to higher education

Special Circumstances

Register with Selective Services

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• Most male students 18-25 years old must be registered for selective services to recieve financial aid

• Click on “Register me” only if your male, you’re at least 18 and if you’re not already registered

• You can also register at:

www.sss.gov

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After the student completes the FAFSA on the Web, a SAR will be sent to the student An electronic SAR Acknowledgment will

be sent if student provides an email address

A paper SAR will be mailed if no student e-mail address is provided

An electronic copy of the data will be sent to each college or university listed by the student in Section 2

Turn in a copy of the SAR to your Gov/Econ teacher

Student Aid Report (SAR)

What Happens Next?

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Students and the colleges the student listed receive Student Aid Report (SAR) from federal processor

Students who complete FAFSA and Cal Grant GPA Verification Form

receive California Aid Report (CAR)

Students and families review SAR and CAR for important

information and accuracy of data

Colleges match admission records with FAFSA and other

required financial aid forms to determine aid eligibility

Colleges provide notices of financial aid eligibility to admitted students who have completed all required financial aid forms

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If selected for verification, the tax information of federal tax filers will be verified throughThe IRS Date Retrieval Process, orIRS Tax transcripts if requested by the college or

university—STAND IN LONG LINES FOR HOURS

Federal Verification

IRS Transcripts available at: http://www.irs.gov/Individuals/Order-a-Transcript

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By opening a WebGrants Account a student can: Check Cal Grant award status 24/7Make changes to Cal Grant school choicesView how much a Cal Grant is worth at

different California colleges and universitiesView Cal Grant payment history Create a WebGrants account at:

www.webgrants4students.org

Check Your Cal Grant

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FAFSA on the Web – Live HelpPhone 1-800-4-FED-AID

(1-800-433-3243)E-mail the U.S. Department of

Education at: FederalStudentAidCustomerService@ed.gov

If You Need Help at Any Time

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Tonight’s PowerPoint will be available on the LSHS’s website

POWERPOINT