2007 High School Counselor
Drive In Workshop
My College
Welcomes You
Today’s Presenters:
2
Workshop Coordinated By:
■ Wisconsin Association of Student Financial Aid
Administrators (WASFAA)
■ Wisconsin Higher Educational Aids Board (HEAB)
■ Wisconsin Department of Public Instruction (DPI)
■ Wisconsin Educational Opportunity Programs (WEOP)
■ Great Lakes
3
Today’s Agenda
8:00 – 8:30
Registration
8:30 – 8:45
Welcome
Review of Agenda and Packet Materials
College Goal Sunday
4
8:45 – 9:45
Financial Aid Fundamentals
9:45 – 10:00
Break
10:00 – 10:30
HEAB Update
10:30 – 11:00
DPI Update
11:00 – 12:00
Special Topics
College Goal Sunday
February 10, 2008 2:00 – 4:00 p.m.
■ College Goal Sunday is a statewide event that will
offer free assistance to families in completing the
Free Application for Federal Student Aid (FAFSA)
■ Volunteer forms, marketing materials and additional
information can be found on the website
■ Scheduled at 20 sites throughout Wisconsin
www.WiCollegeGoalSunday.org
5
College Goal Sunday
Coming to a Location Near You!!!
6
Appleton
Fox Valley
Technical College
Green Bay (2 sites)
Boys & Girls Club, East
Boys & Girls Club, West
Platteville
Platteville High School
Ashland
Northland College
Kenosha
Gateway Technical College
Racine
Gateway Technical College
Beloit
Beloit Turner HS
La Crosse
Viterbo University
Rhinelander
Rhinelander High School
Eau Claire
Chippewa Valley
Technical College
Madison (2 sites)
Edgewood College
MATC-Truax Campus
Sheboygan
UW-Sheboygan
Fond du Lac
Marian College
Milwaukee (4 sites)
Milwaukee HS of the Arts
Pulaski High School
Riverside High School
Rufus King High School
Wausau
Northcentral
Technical College
FINANCIAL AID FUNDAMENTALS
Financing Your Education
■
■
■
■
■
8
What is the goal of financial aid?
How is financial need determined?
How do I apply?
What aid is available?
What is the role of the financial aid office?
Goal of Financial Aid
■ To assist students in paying for college.
■ To provide opportunity and access to higher
education.
9
Basic Principles of Financial Aid
The family has primary responsibility for financing
postsecondary education.
Financial aid is the BRIDGE.
10
Principles of Needs Analysis
■ To the extent they are able, parents have primary
responsibility to pay for their dependent children’s
education.
■ Students also have a responsibility to contribute to their
educational costs.
■ Families should be evaluated in their present financial
condition.
■ A family’s ability to pay for educational costs must be
evaluated in an equitable and consistent manner,
recognizing that special circumstances can and do
affect a family’s ability to pay.
11
Financial Aid Regulations
■ Are determined by federal and state statutes
and legislators
■ Establish your eligibility for most types of aid
■ Apply to all schools
12
What Are the Costs?
+
+
+
+
=
13
Tuition and Fees
Room and Board
Transportation
Books & Supplies
Miscellaneous Living Expenses
Cost of Attendance (COA)
Expected Family Contribution (EFC)
(Federal Methodology established by U.S. Congress)
Determined by filing the FAFSA
www.FAFSA.ed.gov
14
Main Determinants of the EFC
■
■
■
■
■
Income
Assets
Family size
Number in College
Age of the older parent
Adjustments to EFC may be made due to Verification and/or
Special Circumstances that limit ability to pay
15
Expected Family Contribution (EFC)
■ Is the sum of four separate calculations:
 Contribution from Parental Income
 Contribution from Parental Assets
 Contribution from Student Income
 Contribution from Student Assets
16
Financial Need Defined
Cost of Attendance (COA)
– Expected Family Contribution (EFC)
= Financial Need
17
Middle Income Student
Family Size
Number in college
Parent AGI
Parent Untaxed Income
Parent’s Assets
Student’s AGI
Student’s Assets
Parent’s Contribution
4
1
$ 68,400
$ 3,500
$ 45,000
$ 4,500
$ 3,000
$ 8,895
(Parent’s Contribution from Assets = $0)
+Student’s Contribution
$
978
(Student Income Contribution $378)
(Student Contribution from Assets $600)
=Expected Family Contribution:
(Note: 2007-2008 FM formula used)
18
$ 9,873
Financial Need Varies By
School Cost
1
X
2
Y
3
Z
EFC
Cost of
Attendance
(Variable)
19
Expected Family
Contribution
(Constant)
N
E
E
D
EFC
Financial Need
(V ariable)
Financial Need Varies
by School Cost
1
Cost
20
2
3
$ 27,394
$ 17,425
$ 12,056
Less EFC $ 9,873
$ 9,873
$ 9,873
Need
$ 7,552
Y
$ 2,183
Z
$ 17,521
X
You may be eligible for
aid, but…..
YOU MUST
APPLY TO
FIND OUT!
And it’s free!
File the FAFSA each
year.
www.FAFSA.ed.gov
21
Application Process
■ Apply for PIN through Department of Education
■ Submit the Free Application for Federal Student
Aid (FAFSA) prior to your school’s deadline
(paper or electronic)
■ Submit any institutional
application materials
(if required by your school)
■ Attain admission status
■ Make sure to meet all
required deadlines!
22
Free Application for Federal
Student Aid
■ Collects family’s personal and financial
information used to calculate the EFC
■ May file the FAFSA in one of two ways:
 FAFSA on the Web
 Paper FAFSA
www.FAFSA.ed.gov
23
What is a PIN?
www.pin.ed.gov
■
■
■
■
■
24
Personal Identification Number
Students and parents can get PINs
Electronic signature for FAFSA on the Web
PIN delivery
 Real time online
 By regular mail in 7-10 days
Can also be used for:
 Renewal on the Web
 Corrections on the Web
 National Student Loan Database
 Signing promissory notes for student/parent
loans (Perkins, Stafford, PLUS)
Application Processing Flowchart
college
#1
STUDENT
FAFSA
CENTRAL
college
#2
PROCESSING
college
#3
SYSTEM
college
#4
SAR
EFC:
college
#5
Wisconsin Higher
Educational Aids
Board (HEAB)
25
Data
base
Match
college
#6
CSS /PROFILE
(used by some private schools)
■ Collects additional data colleges need
■ Targets non-federal funds
 Financial need (ability to pay) vs. federal
eligibility (EFC)
■ Supports Institutional Methodology (IM) as well
as Federal Methodology (FM)
■ Supports early estimates/early admission
26
Timelines
■ The earliest a student can file the FAFSA for the
2008-2009 academic year - January 1, 2008.
■ Check with the colleges at which the student
plans to apply for institutional deadlines and
requirements.
■ Failure to apply early may result in less aid even
if eligible.
■ Students must re-apply for aid every year.
Renewal notification is sent to students towards
the end of each calendar year.
27
What is Financial Aid?
■
■
■
■
28
Scholarships
Grants
Loans
Employment opportunities
Three primary sources of
funding:
■ US Department of Education
 The federal agency that provides college funding in the
form of grants, scholarships and loans.
■ State
 Most states have agencies that administer state
scholarship and grant programs, college savings and
prepaid tuition programs, and loans. The Higher
Educational Aids Board (HEAB) manages state aid in
Wisconsin.
■ Colleges & Universities
 Schools may offer their own scholarship, grant, workstudy and loan programs, with each college setting its
requirements.
29
Gift Aid (FREE $$$)
Grants & Scholarships
■ Federal (Administered by schools)
 Federal Pell Grant
 Federal Supplemental Educational Opportunity Grant
(SEOG)
 Academic Competitiveness Grant (ACG)
 National SMART Grant
■ State (Administered by HEAB, DPI-WEOP & Schools)
■ Institutional (Endowment funds from Schools)
■ Private (Various outside organizations)
30
Academic Competitiveness
Grant (ACG)
 First year grant is $750
 For students who will be new freshman in 2008-09 the
following criteria are required:
 U.S. Citizen AND
 Enrolled in a 2 or 4-year program AND
 Pell eligible AND
 Full Time AND
 Graduated from high school after 1/1/2006 AND
 Completed a rigorous high school curriculum as defined by the
state
 Second year grant is $1300
 Same criteria as above AND
 Must have a minimum 3.0 GPA AND
 Graduated from high school after 1/1/2005
31
National Science and Mathematics Access
to Retain Talent (SMART) Grant
■ Up to $4000 in 3rd and 4th years of
undergraduate study
■ Eligibility requires include:





U.S. Citizen
Pell Eligible
Full Time
3.0 Cumulative G.P.A.
Enrolled in an eligible program of study
 Computer Science, Engineering, Critical Foreign
Languages, Life Sciences, Mathematics, Physical
Sciences, Technology, or Multidisciplinary Studies
32
ACG/SMART Grant Information
Academic Competitiveness Grant (ACG)
http://www.fsa4counselors.ed.gov/clcf/AcademicGrants.html
National Science and Mathematics Access to
Retain Talent (SMART) Grant
http://www.fsa4counselors.ed.gov/clcf/SmartGrants.html
33
Wisconsin Covenant
■ Goal: Make sure that every Wisconsin 8th grader knows that higher
education is an option if they are willing to work hard during high
school.
■ Students pledge to graduate, maintain at least a “B” average, take
classes that prepare them for higher education, and be good
citizens.
■ Students who fulfill the pledge are guaranteed a place in a
Wisconsin college or university and a financial aid package based
on the family’s financial need that helps make college more
affordable.
■ Students in the Class of 2011 were the first to sign the Wisconsin
Covenant Pledge.
■ Wisconsin Covenant Students will apply for financial aid in the
same way that other students do.
34
Wisconsin Covenant
For more information:
www.WisconsinCovenant.wi.gov
Contact:
Office of the Wisconsin Covenant
PO Box 7869
Madison, WI 53707
608-267-9389
[email protected]
35
Self-Help Aid
Employment (must be earned as wages)
■ Federal Work-Study
■ Institutional Work-Study Programs
■ Off Campus employment
Loans (must be repaid with interest)
■ Federal Perkins Loan
■ Federal Stafford Loans (school determines the loan program)
 Federal Family Education Loan (FFEL) Program
 William D. Ford Federal Direct Loan Program
■ Federal PLUS Loan (Parents)
■ State Loans
■ Institutional Loans
■ Private-Alternative Loans
36
Why Get A Federal Student
Loan?
■ You don’t have to repay until you leave school
■ Lower interest rates than private loans or credit
cards
■ Credit record is not needed
■ Cosigner is not required
37
Loan Comparison Chart
Federal Perkins
Loan
Federal Stafford
Loan
Federal PLUS
Loan
Private Alternative
Loan
(subsidized &
unsubsidized)
Borrower
Student
Student
Parent
Student
Cosigner
None
None
Only if poor credit
Probable
Credit check
No
No
Yes
Yes
FAFSA required
Yes
Yes
Recommended
Recommended
5% Fixed
6.8% Fixed
7.9% (Direct) Fixed
8.5% (FFELP) Fixed
Variable
None
Origination Fee &
Default Fee may
apply
(up to 2.5%)
Origination and
Default Fees apply
(up to 4%)
Vary by loan program
and credit rating
Loan Limits
Determined by school
based on need and
available funds
1st year - $3500
2nd year - $4500
3+ years - $5500
Graduate - $8500
Cost of Attendance
less Aid
Cost of Attendance less
Aid
Repayment
9 months after leave
school or drop below
½ time
6 month after leave
school or drop below
½ time
60 days after fully
disbursed
Check with lender
Not Applicable
Check with lender
Check with lender
Check with lender
Interest Rate
Fees
38
Borrower Benefits
PLUS vs. Private Alternative Loan
FEATURE
39
FEDERAL PLUS LOAN
ALTERNATIVE LOAN
Interest Rate
Fixed, capped at 7.9% for Direct and 8.5% for FFELP.
Variable, usually no cap; many programs reset quarterly.
Current Interest Rate
May be lower depending upon lender’s borrower
benefits.
Varies from lender to lender based on credit. Interest can range from
3%-18%.
Borrower
Parent. Loan is in parent’s name.
Student. While loan is in student’s name, usually parent is included as a
cosigner. Cosigner bears equal responsibility for loan repayment
and loan will appear on parent’s credit bureau report as well.
Loan Amounts
Up to cost of student’s education minus other financial
aid.
Minimum and maximum borrowing limits vary from lender to lender.
Some alternative loans have limits that may not cover the total
amount you need.
Cancellation
Loan forgiven if student or parent dies.
Not usually discharged if student dies.
Interest Accrual
Parent may postpone payments up to 4 years –
interest accrued during postponed period is
capitalized. Parents may also choose to make
interest-only payments while student is in
school.
Interest accrues while student is in school. Some programs require
student to make minimum monthly payments or interest-only
payments while in school. If deferred, repayment usually begins 6
months after student graduates or leaves school.
Deferment/Forbearance
Deferment and forbearance options available.
Varies from lender to lender. Check with lender for availability.
Qualifying
Based on credit history; debt-to-income is not
considered, thus making it easier to qualify.
Varies from lender to lender, but often debt-to-income ratio is considered
in credit decision.
Ease of Application
Very easy. Parents can get pre-approved and/or
apply by fax, telephone, or on-line.
Usually more difficult. Supporting documentation generally required
(proof of income, co-borrower addendum, etc.).
Fees
Typically 3% origination fee. May be less depending
on lender.
Fees vary from lender to lender. May include origination and/or
repayment fees. Fees can be as high as 16% or higher.
Repayment Term
10 years.
Varies among lenders. Typically, 10-25 years.
Consolidation
Can be consolidated in a Federal Consolidation Loan.
Cannot be added to a Federal Consolidation Loan.
How to Evaluate and Choose a Lender
■
■
■
■
40
Interest rates and terms: some lenders
offer better terms or discounts
 Front End Benefits – awarded on or
before repayment
 Origination Fee waivers
 Default Fee waivers
 Back End Benefits – awarded after the
loan is in repayment
 Electronic debiting incentives
 Interest rate reductions
 Loan principal reductions
 Borrower benefits may have specific
eligibility requirements
Loan application processes:
 Can you apply online?
 Is instant approval offered?
Repayment plans
Customer service:
 Toll free numbers during convenient
hours
 Website
■
■
Ability of lender to service all of your
loans
Carefully evaluate terms and conditions
of loan options available via the
Financial Aid Office, from direct mail,
etc.
Before borrowing, think about your ability to
make the monthly payment when you leave
school
Borrowers are free to choose any
participating lender
Borrow only what is needed for direct
educational expenses and avoid borrowing
funds for discretionary spending
How to Compare College
Financial Aid Offers
■
■
■
■
■
41
Start with tuition, fees, room and board
Subtract grant and scholarship offers only
The difference is your “net cost”
Always compare net cost
Do not subtract Federal Work Study as a lump
sum disbursement as students are paid for
hours worked
Award Package Comparison
School?
1.
2.
3.
Cost of Attending? (Includes?)
$
$
$
Expected Family Contribution (EFC) from
FAFSA/SAR?
$
$
$
Need (Cost-EFC)?
$
$
$
Gift Aid: Grants & Scholarships
1.
$
Renewable?
$
Renewable?
$
Renewable?
2.
$
Renewable?
$
Renewable?
$
Renewable?
Work Sources
$
$
$
Aid Package:
Loans (Type and Interest rate):
1.
(
%)
$
$
$
2.
(
%)
$
$
$
Unmet Need (Cost – EFC- Aid)
42
Other Financing Options
■ School Payment Plans (spread over several
months)
■ Home Equity Loans (longer repayment, tax
deductible)
■ Life Insurance Policy Loans
■ Pension Plan Loans
■ 529 Plan withdrawals
■ Wisconsin Tuition Remission for Vets
43
Need versus Merit Aid
■ Aid based on financial need




Most government grants
Subsidized student loans
Perkins loans
Federal Work-Study
■ Aid based on merit
 Academic and athletic scholarships
 Some government grants
■ Some scholarships require merit and need
44
Government Resources
■ Corporation for National and Community
Service
■ Veteran’s benefits and tuition waivers
■ ROTC Scholarships and/or stipends
■ Bureau of Indian Affairs (BIA) Grants
■ State Divisions of Vocational Rehabilitation
(DVR)
■ Health and Human Services Loan and
Scholarship Programs
45
Other Sources of Funds
■ Parental Affiliations
 Employers & Labor Unions
 Religious and Community Organizations
 Clubs and Civic groups
■ Civic organization scholarships
 High School
 Local Public Library
■ Private business scholarships
46
FREE Scholarship Services
47
Role of the Financial Aid Office
■ Answers your questions
 FERPA restrictions
■ Determines financial need eligibility for various types of
financial aid
■ Verifies applicant data when required
■ Develops policy and procedures to distribute aid
■ Packages aid from all available sources
■ Sends award notification letters/e-mails with information
on:




48
Costs
Amount awarded from each aid program
How and when aid will be disbursed
Terms and conditions of student’s award
Role of the Business Office
■
■
■
■
■
■
■
Calculates tuition, meals and other fees
Sends billing statements
Credits financial aid to the student’s account
Sets up payment plans, if available
Processes student checks
Returns financial aid funds that are unearned
Collects payments for charges on student’s
account
■ Sends out 1098T for tax purposes
49
Sample Questions for the
Financial Aid Office
1)
What is the average cost for the first year? Estimates for future years?
2)
Does applying for aid affect the admission decision?
3)
What type of aid does the school have? Need-based or Merit?
4)
What applications, besides the FAFSA, are needed to apply for aid?
5)
What is the priority deadline date for all types of financial aid?
6)
When will I be notified about a financial aid award?
7)
How does the aid package normally change from year to year?
8)
What are the conditions of the aid package?
9)
Is there an opportunity to appeal if the package isn’t enough?
10) How does the college bill for tuition, fees, etc.?
If you have any other questions or concern about
the financial aid process, contact the financial aid
office at your school. Your Financial
Aid Administrator is there to help.
50
Return on Educational Investments
51
Questions?????
52
53
State of Wisconsin
Higher Educational Aids Board
Financial Aid is a…
…Shared Responsibility
■
■
■
■
55
Students
Parents
State and Federal Governments
Private Sources
Goals of State Financial Aid
■ Eliminate financial barriers and ensure
educational opportunity for all Wisconsin
citizens consistent with their individual abilities,
interests, and ambitions.
■ Support educational diversity by allowing
students freedom to choose among the various
educational offerings.
56
Who May Receive State Aid?
State financial aid is available to
residents of the State of Wisconsin
enrolled at non-profit colleges and
universities based in Wisconsin:
■ University of Wisconsin System
■ Wisconsin Technical Colleges
■ Independent Colleges & Universities
■ Tribal Colleges
57
Who May Not Receive State Aid?
State statutes prohibit students from
receiving state financial aid who are:
■ Not registered with Selective Service
■ Listed on the Dept. of Workforce
Development’s statewide Child
Support Lien Docket
 Students on the Lien Docket may still receive state
loans
58
Applying for State Aid
Free Application for Federal Student Aid
■
■
HEAB receives FAFSA data for all Wisconsin
residents.
The FAFSA is the only application for
Wisconsin's 2 major grant programs:
 Wisconsin Higher Education Grant
(UW, Technical Colleges, Tribal Colleges)
 Wisconsin Tuition Grant
(Independent Colleges & Universities)
59
State Financial Aid Programs
Programs for Students with Financial Need
Student must file the Free Application for Federal Student Aid (FAFSA)
Wisconsin Higher Education Grant
Wisconsin Tuition Grant
Programs for Students with Financial Need who must also meet Additional
Requirements - FAFSA and additional Application or Nomination
Hearing & Visually Handicapped Student Grant
Indian Student Assistance Grant
Minority Undergraduate Retention Grant
Nursing Student Loan
Talent Incentive Program Grant
Programs Not Based on Financial Need - Do not require the FAFSA
Academic Excellence Scholarship
Minnesota-Wisconsin Tuition Reciprocity Program
Minority Teacher Loan
Teacher of the Visually Impaired Loan
60
Academic Excellence Scholarship
(AES)
■
■
■
■
■
■
61
Awarded to Wisconsin’s top high school seniors who are Wisconsin residents and are US citizens or
permanent US residents.
Earned by the high school senior with the highest cumulative grade point average in the class at the end
of the fall semester of senior year.
Up to $2250 per year, for up to four years, toward tuition at participating Wisconsin colleges or
universities. HEAB notifies the college of the student’s AES award, and the college and HEAB jointly
disburse the money and apply it directly to the tuition.
Certificates are sent to the high schools for your AES winners. Alternates do not receive certificates.
The number of Academic Excellence Scholarships that may be awarded per school is based on student
enrollment, as shown in the following table:
Enrollment
Number of Scholarships
1-79
80-499
500-999
1000-1499
1500-1999
2000-2499
Over 2500
total of 10 available
1
2
3
4
5
6
HEAB determines the number of scholarships for each school based on Department of Public Instruction
fall enrollment reports. Contact HEAB if you believe your number of scholarships is inaccurate.
AES High School Timeline
JANUARY
High schools receive forms, instructions, notification of number of scholarships available for individual schools (based on
school enrollment), and a copy of the State of Wisconsin Statutes and Rules which pertain to the AES.
FEBRUARY 15
By February 15th of each school year the school board shall designate the Academic Excellence Scholar(s). These
designations are final.
MARCH 1
High school counselors must submit nomination forms, with the names of the Academic Excellence Scholars and
alternates, to HEAB no later than March 1.
MARCH
Academic Excellence Scholarship recipients are contacted by HEAB asking them to verify their intent to accept the
scholarship, and asking which participating school they plan to attend.
HEAB begins the alternate selection process.
MAY
HEAB sends AES certificates to high schools for presentation to the scholars. Alternates do not receive certificates.
Contact Nancy Wilkison, HEAB Grant Specialist, for any questions about AES.
Email: [email protected]
Phone: (608) 267-2213
62
AES Tips for Guidance Counselors

The scholarship recipient(s) you list should be the student(s) with the highest cumulative GPAs at the end of the fall
semester of senior year, regardless of whether or not they plan to accept the Academic Excellence Scholarship.

Your districts are required to have a tie-breaking strategy in place in the event that more than one student shares the
highest cumulative GPA.

The required number of semesters of enrollment for a student to be eligible for the AES is determined by each school
district as part of your Board Policy.

If you have an un-weighted, or traditional, grading system, alternates for the AES must have the very same GPA as the
winner of the AES.

If you have a weighted grading system, alternates are listed in order of the next highest GPAs.

The cumulative GPA for each student should be reported exactly as it is shown on your official high school transcript.

Student names should be written exactly as the student wishes it to appear on the certificate.

Schools should inform all recipients and alternates of their AES status as early as possible.

Please encourage recipients to return their paperwork to HEAB as soon as possible. Those who will not be attending a
participating school should be reminded that alternates may be waiting in the wings!
63
Receiving State Financial Aid
■ HEAB notifies the college or university
financial aid offices of each student’s
eligibility for state financial aid.
■ The financial aid offices include the state
aid in the student’s financial aid package.
64
Contacting HEAB
State of Wisconsin
Higher Educational Aids Board
P.O. Box 7885
Madison, WI 53707-7885
(608) 267-2206
Fax: (608) 267-2808
E-Mail: [email protected]
Web Page: heab.wi.gov
65
Wisconsin Department of Public Instruction
Wisconsin Educational Opportunity Programs
WEOP Offices
Ashland
- 715-682-7975
Eau-Claire - 715-836-3171
Green Bay - 920-492-5745
Madison
- 608-267-1058
Milwaukee - 414-227-4466
Racine
- 262-638-7370
Wausau
- 715-842-0871
www.dpi.state.wi.us
67
What is WEOP?
WEOP is a component
of the Department of
Public Instruction.
Our purpose is to help
educationally and
economically
disadvantaged students
continue their education
through select
statewide programs.
68
WEOP Programs
■
■
■
■
■
■
State Talent Search Program
Talent Incentive Program (TIP)
PreCollege Scholarship Program
Early Identification Program (EIP)
Federal GEAR UP Program (GU)
Federal Upward Bound Program
 (Wausau Office only)
■ Federal Talent Search Program
 (Ashland, Eau Claire, Green
Bay, and Wausau offices only)
69
State Talent Search Program
■ Individual advising regarding financial aid, admissions
and careers
■ Assist with the college and financial aid application
process
■ Identify and recommend students for the TIP Grant
■ Recommend students for the GEAR UP scholarship
■ Assist students in identifying scholarship sources
■ Make financial aid presentations to parents, students,
and community groups
70
Talent Incentive Program (TIP)
TIP Grant Purpose:
Assist disadvantaged, low-income students with
limited financial resources
71
Benefits of the TIP Grant
■ Grant ranges from $600-$1800 per year
■ Automatically renewable if student applies for
financial aid and is continuously enrolled
■ Available for 10 consecutive semesters
72
TIP Guidelines
■ Must be a WI resident
■ Attend a HEAB approved post-secondary
institution (WI technical, public or private
college/university)
■ Be a first time college freshman (A student who
has been enrolled in a post-secondary
institution for less than two semesters at half
time or greater status since attending high
school.)
■ Must meet the following criteria:
73
TIP Criteria
■ A student must meet one criteria from Group A
and one from Group B
 Group A is based on financial need
 Group B is based on other factors
■ The criteria is based on dependent or
independent status for financial aid purposes
74
Group A
Dependent Student
1. Parent contribution at or below $200
2. Family receives TANF benefits
3. Parents unemployed and have no current
income from employment
75
Group A
Independent Student
1. A student contribution at or below $200
2. A student receives TANF benefits
3. A student is unemployed and receives no
income from employment
76
Group B
A student must meet one of these criteria:
■ Be a member of a minority group
■ Be enrolled in a special academic support program
at college
■ Be a first generation (neither parent graduated from
a 4-year college)
■ Be a DVR Client
■ Be formerly incarcerated
■ Have special family circumstances that may deter
the student from pursuing a
post-secondary education
77
Required Documentation
■
■
■
■
■
78
College Letter of Acceptance or Class Schedule
Student Aid Report (SAR)
Prior Year Tax Forms
Verification of untaxed income
Financial Aid Award Letter
How to apply?
■ Contact your nearest WEOP office
■ Download the application at:
www.dpi.state.wi.us/weop/index.html
79
PreCollege
Scholarship Program
■ Available to Wisconsin students in grades 6-12 who are eligible for
free or reduced lunch.
■ Must be attending a Wisconsin academic pre-college program
■ Must have a 2.0 or better GPA to receive a scholarship
■ Covers tuition, books, supplies, room and board
■ Application must be signed by guidance counselor, teacher,
principal or WEOP counselor and a parent or legal guardian
The application is available at:
www.dpi.state.wi.us/weop/index.html
80
EIP, FTS, UB, GU Guidelines
■ Grades 6-12
■ Programs emphasize:






Academic Achievement
Tutoring
Mentoring
Parent Involvement
College Visits
Early Awareness
■ Programs are provided to:
 Targeted School Districts
 Students who meet federal
income guidelines
81
GEAR UP Scholarship
Eligible participants:
■ Are GEAR UP, EIP or Federal Trio students who
are eligible for the TIP grant
■ Must be nominated by a WEOP Counselor
■ Must attend a public, private, or technical
college in Wisconsin
■ Can receive this renewable scholarship for 10
consecutive semesters of attendance
82
WEOP Offices
620 Beaser Avenue
Ashland, WI 54806
(715)682-7975
125 South Webster Street, Room 309
Madison, WI 53707
(608)267-1058
204 E. Grand Avenue, 5th Floor
Eau Claire, WI 54701
(715)836-3171
2113 N. Wisconsin
Racine, WI 53402
(262)638-7370
2140 Holmgren Way
Green Bay, WI 54304
(920)492-5745
133 River Drive
Wausau, WI 54403
(715)842-0871
101 W. Pleasant Street, Suite 204
Milwaukee, WI 53212
(414)227-4466
83
Thanks
Questions or Comments?
84
Special Topics in Financial Aid
Special Topics in Financial Aid
■
■
■
■
■
■
86
Don’t Get Scammed
Common Errors
Special Circumstances
Processing
Tool Kit
Internet Resources
Don’t Get Scammed on Your
Way to College
Consumer complaints are mainly about business practices:
■ College prep/financial aid advice services
■ FAFSA for a fee
Be aware of tactics used to convince students to buy
services:
■ “If you use our services, you’re guaranteed to get at least
$2000 in student aid for college, or we’ll give you your
money back.”
■ “Applying for aid is complicated. We’re the only ones who
can help you through the process and find all the aid for
which you’re eligible.”
■ “I’d like to offer you a scholarship (or grant). All I need is
your bank account information so the money can be
deposited and a processing fee charged.”
Contact your nearest college financial aid office if you have
questions regarding the legitimacy of any questionable offer
87
Proceed with Caution!
■ Avoid being charged a fee to file the FAFSA
 Processes of completing and processing the FAFSA
are FREE
 If filing FAFSA on the Web, make sure you go
directly to: www.fafsa.ed.gov (not www.fafsa.com)
 Contact the financial aid office if you need help in
completing the FAFSA
88
Frequent FAFSA Errors
■
■
■
■
■
■
■
■
■
■
■
89
Missing Signatures/PIN
Wrong Social Security Number
Divorced/remarried parent information
Income earned by parents/stepparents
Untaxed income
U.S. income taxes paid
Household size
Number in postsecondary education
Real estate and investment net worth
Not using real name
NOT APPLYING AT ALL
Dependency Status
■
■
■
■
■
At least 24 years old;
Graduate or professional student;
Married;
Has child for whom student provides more than half support;
Has dependent other than child or spouse who lives with student
and for whom provides more than half support;
■ Orphan or ward of the court;
■ Veteran of the U.S. Armed Forces or currently serving active duty
for other than training purposes in the U.S. Armed forces; or
■ Determined to be independent by the financial aid administrator
(Parents refusal to provide support or financial data is insufficient to
make a student independent regardless of tax filing status)
90
For Federal Methodology
Who is a Parent?
■
■
■
■
■
91
Two biological parents married to each other
Divorced or separated parents
Stepparent
Widowed parent
Legal adoptive parent
Divorced/Separated Issues
■ FAFSA is to be completed by parent with whom
the student is living, regardless of who claims
student on taxes or what divorce decree states.
■ If parent has remarried, stepparent information
must be included on the FAFSA.
■ Some higher-cost schools will ask for a
Divorced/Separated Supplement to be
completed on other parent to determine
eligibility for college programs.
92
After you file the FAFSA
93
■ Results are sent electronically to the college(s) the
student selected.
■ Students & Parents will receive the results of their
FAFSA by e-mail (or regular mail) - Student Aid Report
(SAR).
■ Students may be required to verify the information
submitted on the FAFSA
(submit tax forms).
■ Contact the college with any
Special Circumstances.
■ After the student is admitted to a
college, a financial aid
package will be prepared.
Special Circumstances?
Call the Financial Aid Office
■
■
■
■
■
Divorce/Separation
Loss of income or benefits
One-time income
Death or Disability of student or parent
Medical/Dental expenses not covered by
insurance
■ Elementary or secondary school tuition
■ Dependency override
(Note: Professional Judgement is at the sole discretion of each institution.)
94
Professional Judgment by
Financial Aid Administrators
■ Adjustments are determined by each institution
on a case by case basis.
■ Another institution cannot automatically accept
a professional judgment made by another
institution.
■ The decision must recognize the unique
situation of the student and must be
documented.
95
FAFSA on the Web and
Renewal FAFSA on the Web
■ Parents with multiple children in college can
continue to transfer information to additional
applications
■ Link on confirmation page to “Begin a new
application with parent data already filled in?”
will display only for –
 Dependent students
 Independent students who provided parent data
on the application
96
E-Mail Correspondence
■ When e-mails with links to SAR information on
the Web are returned as undeliverable, a paper
SAR or SAR Acknowledgement will be
generated and mailed to student
■ Spanish e-mail notifications will be sent to
students and parents who submitted Spanishlanguage applications and provided valid e-mail
addresses
97
What’s So Great About Doing
the FAFSA Online?
You should use FAFSA on the Web instead of paper because:
■
It’s quick…




■
It’s easy…






■
Automatically edits data as you enter it and detects errors for correction before submission
Due to edits and online help, less likely to de delayed by the need for corrections
It’s safe…

98
Detailed help screens for every question
Live, private online help is available
Skip logic: asks only what you must answer – skips questions that don’t apply
Access from anywhere
Electronic signature using PIN
English or Spanish versions
It’s accurate…


■
Results back up to three weeks faster
Speed may be important for schools awarding limited resources
Instant access to EFC estimate
Electronic Student Aid Report (SAR) sent to email provided
FASFA on the Web uses encryption to protect confidentiality of data
FAFSA on the Web
■ Apply
■ Renewal
■ English and Spanish
options
■ Access PIN Web site
■ Check status of application
■ View SAR information
■ Make corrections
www.fafsa.ed.gov
99
There is always the 2008-2009
Paper FAFSA
■ 2008-2009
 Orange for
students
 Purple for parents
■ FAFSA will include
 Insert
100
FAFSA on the Web Worksheet
2008-2009
Designed to use in
preparing for On-Line
FAFSA
101
Student Aid Communications
■
■
■
■
102
FAFSA on the Web
Student Aid Report (SAR)
E-mail Notifications
Paper FAFSA
2008-2009 FAFSA
■ FAFSA Questions
 Question order remains the same
 No new questions added
 No questions deleted
103
2008-2009 Changes
■ Real-Time PIN
 Issued upon request (FOTW or PIN Site)
 Valid for FAFSA unless subsequent SSA match fails
■ Number of School Choices
 Increased to ten on FOTW
 Remains four on paper
■ Non-Filers with income “above” IRS filing amount
 Questioned on FOTW
 Reject if submitted
 FAA can override
104
2008-09 Renewal Application
Process
■ Renewal Reminders sent in early January 2008
 Students with a valid e-mail address will receive
e-mail reminders
 If no e-mail address or e-mail is undeliverable,
paper reminder letter will be sent to applicant
105
FAFSA on the Web Toolkits
Mailed in October to –
 Postsecondary schools
 High schools
 State agencies
 Libraries
 PTAs
 TRIO Centers
 Gear Up
 NCAN
106
Toolkits will include –
 FOTW Brochure
 PIN Brochure
 Poster
 Tips Card
 Web-Link Graphics Flyer
 FAA Access Flyer
FAFSA4caster
■ FAFSA4Caster was developed to:
 Foster early awareness with the financial aid
application process and form
 Serve as an early analysis tool informing college
affordability
 Reduce the time required
to submit the “official”
financial aid application in
the student's senior year
of high school
107
FAFSA4caster
■ FAFSA4caster will:
 Automatically generate a Federal Student Aid PIN for
use when signing the FAFSA
 Instantly calculate eligibility for federal student aid
 Generate a FAFSA –
a FAFSA populated with
student FAFSA4caster
data will be available
when the student is
ready to file the official
FAFSA
108
www.fafsa4caster.ed.gov
109
Congratulations, THERESA!
FAFSA4caster has successfully calculated the information you submitted.
Below you will see an estimated Expected Family Contribution (EFC). The EFC is not the
amount of money that your family must provide. Rather, you should think of the EFC as an
index that colleges use to determine how much financial aid you would receive if you were to
attend their school.
When you officially apply for financial aid, the colleges you list on your Free Application for
Federal Student Aid (FAFSA) will determine your eligibility and then send you award
information that identifies the aid they have determined you may receive. This award
information will vary from college to college because the cost of attending each is different.
Your estimated EFC is 1060.
Now that we have calculated your EFC you can see what your college education may cost for
attending a certain type of college in the United States. We will use your estimated EFC of 1060
and the national average for cost of attendance at each type of school.
110
FAFSA on the Web Demo Site
111
www.fsa4counselors.ed.gov
112
www.studentaid.ed.gov
113
www.students.gov
114
www.Going2College.org
115
www.KnowHow2GO.org
116
www.heab.wi.gov
117
www.wasfaa.net
118
www.finaid.org
119
Questions?
How can we help
you?
What challenges
do you have?
Do you need
assistance with
your financial aid
night?
120
Comments?
THANK YOU ALL FOR ATTENDING!!!
Please complete the evaluation.
121
Pre-Collegiate School Relations
Committee
Committee Objective: To educate students, parents,
teachers, and school counselors about the availability of
financial aid and the aid application process.
Committee Members:
Lisa Albers
Paul Baldridge
Triena Bodart
Linda Brumm
Maureen Crump-Phillips
Donna Dahlvang
Susan Fischer
Bill Henderson
Michelle Hermes
Sara Beth Holmen
Sharon Hunter
122
Connie Hutchison
Marilyn Krump
Jane Lemke
Heather McGee
Leone Pierce
Amy Schrader
Steve Schuetz
Susan Teerink
Bill Trippett
Kelly Vander Wyst
Margaret Zitzer
Christine Zollicoffer
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2007 High School Counselor Drive In Workshop