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2007 High School Counselor Drive In Workshop
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My College
Welcomes You
Today’s Presenters:
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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
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Today’s Agenda
8:00 – 8:30 Registration
8:30 – 8:45 Welcome
Review of Agenda and Packet Materials
College Goal Sunday
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
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www.WiCollegeGoalSunday.org
College Goal SundayFebruary 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
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AppletonFox Valley
Technical College
Green Bay (2 sites)Boys & Girls Club, EastBoys & Girls Club, West
PlattevillePlatteville High School
AshlandNorthland College
KenoshaGateway Technical College
RacineGateway Technical College
BeloitBeloit Turner HS
La CrosseViterbo University
RhinelanderRhinelander High School
Eau ClaireChippewa Valley Technical College
Madison (2 sites)Edgewood College
MATC-Truax Campus
SheboyganUW-Sheboygan
Fond du LacMarian College
Milwaukee (4 sites)Milwaukee HS of the Arts
Pulaski High SchoolRiverside High School
Rufus King High School
WausauNorthcentral
Technical College
College Goal SundayComing to a Location Near You!!!
FINANCIAL AID FUNDAMENTALS
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Financing Your Education
■ 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?
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Goal of Financial Aid
■ To assist students in paying for college.■ To provide opportunity and access to higher
education.
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Basic Principles of Financial Aid
The family has primary responsibility for financing postsecondary education.
Financial aid is the BRIDGE.
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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.
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Financial Aid Regulations
■ Are determined by federal and state statutes and legislators
■ Establish your eligibility for most types of aid■ Apply to all schools
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What Are the Costs?
Tuition and Fees
+ Room and Board
+ Transportation
+ Books & Supplies
+ Miscellaneous Living Expenses
= Cost of Attendance (COA)
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Expected Family Contribution (EFC)(Federal Methodology established by U.S. Congress)
Determined by filing the FAFSA
www.FAFSA.ed.gov
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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
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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
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Financial Need Defined
Cost of Attendance (COA)
– Expected Family Contribution (EFC)
= Financial Need
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Middle Income Student
Family Size 4Number in college 1Parent AGI $ 68,400Parent Untaxed Income $ 3,500Parent’s Assets $ 45,000Student’s AGI $ 4,500Student’s Assets $ 3,000 Parent’s Contribution $ 8,895
(Parent’s Contribution from Assets = $0)+Student’s Contribution $ 978
(Student Income Contribution $378)(Student Contribution from Assets $600)
=Expected Family Contribution: $ 9,873
(Note: 2007-2008 FM formula used)
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Financial Need Varies By School Cost
X
Y
Z
Cost of Expected Family Financial Need
Attendance Contribution (V ariable)
(V ariable) (Constant)
1
2
3
EFC EFC
N E E D
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Financial Need Varies by School Cost
1 2 3
Cost $ 27,394 $ 17,425 $ 12,056
Less EFC $ 9,873 $ 9,873 $ 9,873
Need $ 17,521
X
$ 7,552
Y
$ 2,183
Z
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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
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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 institutionalapplication materials(if required by your school)
■ Attain admission status■ Make sure to meet all
required deadlines!
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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
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What is a PIN? www.pin.ed.gov
■ 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)
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Application Processing Flowchart
college# 1
college# 2
college# 3
college# 4
college# 5
college# 6
SAR
CENTRAL
PROCESSING
SYSTEM
STUDENTFAFSA
DatabaseMatch
EFC:
Wisconsin HigherEducational AidsBoard (HEAB)
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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
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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.
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What is Financial Aid?
■ Scholarships■ Grants■ Loans■ Employment opportunities
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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, work-
study and loan programs, with each college setting its requirements.
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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)
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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
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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
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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
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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.
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For more information:www.WisconsinCovenant.wi.gov
Contact:Office of the Wisconsin CovenantPO Box 7869Madison, WI [email protected]
Wisconsin Covenant
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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
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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
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Loan Comparison Chart
Federal Perkins Loan
Federal Stafford Loan
(subsidized & unsubsidized)
Federal PLUS Loan
Private Alternative Loan
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
Interest Rate 5% Fixed 6.8% Fixed 7.9% (Direct) Fixed8.5% (FFELP) Fixed
Variable
Fees 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 - $35002nd year - $45003+ years - $5500Graduate - $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
Borrower Benefits Not Applicable Check with lender Check with lender Check with lender
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PLUS vs. Private Alternative Loan
FEATURE 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.
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How to Evaluate and Choose a Lender
■ 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
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How to Compare College Financial Aid Offers
■ 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
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Award Package Comparison
School? 1. 2. 3.
Cost of Attending? (Includes?) $ $ $
Expected Family Contribution (EFC) from FAFSA/SAR?
$ $ $
Need (Cost-EFC)? $ $ $
Aid Package:
Gift Aid: Grants & Scholarships 1.
$Renewable?
$Renewable?
$Renewable?
2. $Renewable?
$Renewable?
$Renewable?
Work Sources $ $ $
Loans (Type and Interest rate):
1. ( %) $ $ $
2. ( %) $ $ $
Unmet Need (Cost – EFC- Aid)
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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
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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
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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
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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
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FREE Scholarship Services
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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: Costs Amount awarded from each aid program How and when aid will be disbursed Terms and conditions of student’s award
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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
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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 aboutthe financial aid process, contact the financial aidoffice at your school. Your FinancialAid Administrator is there to help.
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Return on Educational Investments
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Questions?????
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State of WisconsinHigher Educational Aids Board
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Financial Aid is a…
…Shared Responsibility■ Students■ Parents■ State and Federal Governments■ Private Sources
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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.
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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
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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
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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)
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State Financial Aid Programs
Programs for Students with Financial NeedStudent must file the Free Application for Federal Student Aid (FAFSA)
Wisconsin Higher Education GrantWisconsin Tuition Grant
Programs for Students with Financial Need who must also meet Additional Requirements - FAFSA and additional Application or Nomination
Hearing & Visually Handicapped Student GrantIndian Student Assistance GrantMinority Undergraduate Retention GrantNursing Student LoanTalent Incentive Program Grant
Programs Not Based on Financial Need - Do not require the FAFSAAcademic Excellence ScholarshipMinnesota-Wisconsin Tuition Reciprocity ProgramMinority Teacher LoanTeacher of the Visually Impaired Loan
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Academic Excellence Scholarship (AES)
■ 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 total of 10 available
80-499 1
500-999 2
1000-1499 3
1500-1999 4
2000-2499 5
Over 2500 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.
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AES High School Timeline
JANUARYHigh 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 15By February 15th of each school year the school board shall designate the Academic Excellence Scholar(s). These designations are final.
MARCH 1High school counselors must submit nomination forms, with the names of the Academic Excellence Scholars and alternates, to HEAB no later than March 1.
MARCHAcademic 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.
MAYHEAB 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
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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!
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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.
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Contacting HEAB
State of WisconsinHigher Educational Aids BoardP.O. Box 7885Madison, WI 53707-7885
(608) 267-2206 Fax: (608) 267-2808
E-Mail: [email protected]
Web Page: heab.wi.gov
Wisconsin Department of Public InstructionWisconsin Educational Opportunity Programs
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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
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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.
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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)
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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
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Talent Incentive Program (TIP)
TIP Grant Purpose:
Assist disadvantaged, low-income students with limited financial resources
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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
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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:
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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
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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
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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
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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 apost-secondary education
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Required Documentation
■ College Letter of Acceptance or Class Schedule■ Student Aid Report (SAR)■ Prior Year Tax Forms■ Verification of untaxed income ■ Financial Aid Award Letter
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How to apply?
■ Contact your nearest WEOP office■ Download the application at:
www.dpi.state.wi.us/weop/index.html
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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
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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
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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
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WEOP Offices
620 Beaser AvenueAshland, WI 54806(715)682-7975
204 E. Grand Avenue, 5th FloorEau Claire, WI 54701(715)836-3171
2140 Holmgren WayGreen Bay, WI 54304(920)492-5745
101 W. Pleasant Street, Suite 204Milwaukee, WI 53212(414)227-4466
125 South Webster Street, Room 309Madison, WI 53707(608)267-1058
2113 N. WisconsinRacine, WI 53402(262)638-7370
133 River DriveWausau, WI 54403(715)842-0871
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Thanks
Questions or Comments?
Special Topics in Financial Aid
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Special Topics in Financial Aid
■ Don’t Get Scammed■ Common Errors■ Special Circumstances■ Processing■ Tool Kit■ Internet Resources
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Don’t Get Scammed on Your Way to CollegeConsumer 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
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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
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Frequent FAFSA Errors
■ 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
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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)
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For Federal Methodology Who is a Parent?
■ Two biological parents married to each other■ Divorced or separated parents■ Stepparent■ Widowed parent■ Legal adoptive parent
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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.
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After you file the FAFSA
■ 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 anySpecial Circumstances.
■ After the student is admitted to acollege, a financial aidpackage will be prepared.
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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.)
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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.
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FAFSA on the Web andRenewal 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
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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 Spanish-language applications and provided valid e-mail addresses
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What’s So Great About Doing the FAFSA Online?
You should use FAFSA on the Web instead of paper because:
■ It’s quick…
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
■ It’s easy…
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…
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…
FASFA on the Web uses encryption to protect confidentiality of data
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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
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There is always the 2008-2009 Paper FAFSA
■ 2008-2009 Orange for students Purple for parents
■ FAFSA will include Insert
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FAFSA on the Web Worksheet
Designed to use in preparing for On-Line FAFSA
2008-2009
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Student Aid Communications
■ FAFSA on the Web ■ Student Aid Report (SAR)■ E-mail Notifications■ Paper FAFSA
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2008-2009 FAFSA
■ FAFSA Questions Question order remains the same No new questions added No questions deleted
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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
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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
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FAFSA on the Web Toolkits
Mailed in October to –Mailed in October to – Postsecondary schools High schools State agencies Libraries PTAs TRIO Centers Gear Up NCAN
Toolkits will include –Toolkits will include – FOTW Brochure PIN Brochure Poster Tips Card Web-Link Graphics Flyer FAA Access Flyer
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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 inthe student's senior yearof high school
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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 withstudent FAFSA4casterdata will be availablewhen the student isready to file the officialFAFSA
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www.fafsa4caster.ed.gov
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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.
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FAFSA on the Web Demo Site
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www.fsa4counselors.ed.gov
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www.studentaid.ed.gov
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www.students.gov
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www.Going2College.org
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www.KnowHow2GO.org
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www.heab.wi.gov
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www.wasfaa.net
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www.finaid.org
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Questions? Comments?
How can we help you?
What challenges do you have?
Do you need assistance with your financial aid night?
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THANK YOU ALL FOR ATTENDING!!!
Please complete the evaluation.
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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 Connie HutchisonPaul Baldridge Marilyn KrumpTriena Bodart Jane LemkeLinda Brumm Heather McGeeMaureen Crump-Phillips Leone PierceDonna Dahlvang Amy SchraderSusan Fischer Steve SchuetzBill Henderson Susan TeerinkMichelle Hermes Bill TrippettSara Beth Holmen Kelly Vander WystSharon Hunter Margaret Zitzer
Christine Zollicoffer
