Counselor Training for College and Career Planning 2013 High School Counselor Workshops

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Counselor Training for College and Career Planning 2013 High School Counselor Workshops. Financial Aid Overview. AGENDA KASFAA Financial Aid Overview Aid Programs FAFSA Filing the FAFSA Dependency status Special Circumstances Processing the FAFSA V erification - PowerPoint PPT Presentation

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  • Counselor Training for College and Career Planning 2013 High School Counselor Workshops

    Financial Aid Overview

  • AGENDA

    KASFAAFinancial Aid OverviewAid ProgramsFAFSAFiling the FAFSA Dependency statusSpecial CircumstancesProcessing the FAFSA VerificationResources for Counselors and Students

  • Kentucky Association of Student Financial Aid AdministratorsOur mission is to pledge support to professional activities and communications in all areas concerned with the administration of student educational financing programsUpcoming EventsHigh School Workshop, 10 sitesCollege Goal Kentucky, various dates/sites statewide

  • College Goal KentuckyVarious Sites throughout the state. www.kasfaa.com/collegegoalkyPostcards with Financial Aid timeline (Kim Dolan can provide more as needed kdolan@kheslc.com)

  • Financial Aid Overview

    2013 High School Counselor Workshops

  • Financial Aid IncludesScholarshipsGrantsWork-StudyLoans

  • Sources of Financial AidFederal governmentState governmentInstitutionalPrivate sources

  • Federal Aid Programs

    2013 High School Counselor Workshops

  • Federal Aid ProgramsAid awarded primarily on the basis of financial needStudents must apply every year using the Free Application for Federal Student Aid (FAFSA)

  • Federal Pell GrantNeed-based grantAvailable to undergraduate students who have not received a bachelors or first professional degree (exception for teacher certification students)

  • TEACH GrantTeacher Education Assistance for College and Higher Education GrantFor undergraduate, post-baccalaureate, or graduate students who are/will be taking course work necessary to become elementary or secondary teachersMust attend a participating college and meet certain academic achievement requirements Must agree to serve, for a minimum of four years (within eight years of completing academic program), as a full-time teacher in a high-need field in a school that serves low-income students or TEACH Grant reverts to student loan

  • Campus-Based AidFederal Supplemental Educational Opportunity Grant (SEOG)Federal Work-StudyFederal Perkins LoanAwarded by schools on a first come, first served basis within guidelines for each program

  • Federal Work-studyUndergraduate and graduate studentsNeed-based, part-time employmentNo minimum or maximum awardMay look at willingness to workMust pay at least federal minimum wageThe program encourages community service work and work related to the recipient's course of study.

  • Federal Direct Stafford Student LoansLoan application is the FAFSAStudent borrows from and repays to federal governmentSchool facilitates loan processAnnual and aggregate borrowing limitsAmounts increase for subsequent years of study, with higher amounts for graduate students.

  • Federal Direct Stafford Student LoansIn-school defermentSix month post-enrollment grace periodLow, fixed interest ratesVarious repayment options available to students entering repayment

  • Federal Direct PLUS LoansParents of dependent undergraduate students may apply for the Parent PLUS loan Graduate or professional students may apply for the Graduate PLUS loan PLUS loans require approval based on credit.

  • Veterans Benefits

    2013 High School Counselor Workshops

  • Veterans BenefitsPost-9/11 GI Billhttp://www.gibill.va.gov

    1-888-GIBILL-1(1-888-442-4551)

  • Veterans BenefitsPost-9/11 GI BillIndividuals who serve at least 90 days of aggregate service after 9/10/01 are eligible at varying percentages for length of service.Benefits may include:Tuition and fees (paid directly to school)Monthly housing allowance (paid to student)Books and supplies stipend (paid to student)Benefits are payable only for approved training and education programs offered by a college or university.

  • Veterans BenefitsPost-9/11 GI Bill -TransferabilityAllows career service members (6 years + of service) the opportunity to share their education benefits with immediate family.Immediate family includes: - The individuals spouse- The individuals children (under 26 years of age)- Any combination of spouse and children

  • Yellow Ribbon Program

    Allows colleges and universities to enter a voluntarily agreement with VA to fund tuition expenses that exceed the highest public in-state undergraduate rate for individuals eligible for the GI Bill 100% payment tier.

    http://www.gibill.va.gov/benefits/post_911_gibill/yellow_ribbon_program.html

  • STATE AID PROGRAMSKentucky

    2013 High School Counselor Workshops

  • State Aid ProgramsResidency requirements for eligibilityMerit and need-based aid typesMay use information from the FAFSA to determine eligibilityGrant program eligibility determined upon when the FAFSA is completed

  • Kentucky Aid ProgramsAdministered by the Kentucky Higher Education Assistance Authority (KHEAA)Information and applications for Kentucky grant and scholarship programs at www.kheaa.com

  • KHEAA ProgramsBelow are a few popular state programs most relevant to high school students and parents:College Access Program (CAP) GrantKentucky Tuition Grant (KTG)Kentucky Educational Excellence Scholarship (KEES)Go Higher GrantKentucky Education Savings Plan TrustKentucky's Affordable Prepaid Tuition

  • Institutional Aid Programs

    2013 High School Counselor Workshops

  • Institutional AidDiffers from one college to anotherContact colleges directly when applyingApply earlySubmit polished applicationsRespond promptly to offers

  • Private Aid Sources

    2013 High School Counselor Workshops

  • Private SourcesFoundations and professional organizations in the students field of studyLocal businesses and employersCommunity organizations and civic groupsReligious groupsEthnicity-based groups

  • FREE Online Scholarship Search Engineswww.kheaa.comwww.finaid.orgwww.collegeboard.comwww.fastweb.comwww.studentaid.ed.gov

  • Filing the FAFSA 2013 High School Counselor Workshops

  • FAFSA on the WebWebsite: www.fafsa.gov2014-15 FAFSA on the Web available on January 1, 2014

  • FAFSA Demo for CounselorsAllows counselors to increase their own understanding of FAFSA on the Web and to show it to students and parents before they applyhttp://fafsademo.test.ed.govWhen you visit the site, you will be prompted for a user name and passwordUser name: eddemoPassword: fafsatest

  • Application ProcessStudent completes FAFSAFAFSA results are transmitted to the school(s) listed on the FAFSASchool uses the EFC amount to determine eligibility for financial aidSchool communicates eligibility to the student through an award package

  • Expected Family Contribution (EFC)Amount a family can reasonably be expected to contribute to collegeEFC is calculated using data provided on the FAFSA EFC remains the same from college to college

  • FAFSA Filing DeadlinesEncourage families to file early:Families encouraged to file as soon as possible after January 1stSome types of aid are first come, first served and funding is limitedLikely to receive more timely award information from schools for students to make college decisions/plans

  • Documents needed to complete the FAFSAThe following information and documents are necessary for completing the FAFSA:Social Security numberParents Social Security number Drivers license numberAlien Registration Number if not a U.S. citizen

  • Documents needed to complete the FAFSAThe following information and documents are necessary for completing the FAFSA:Federal tax information or tax returns, including IRS W-2 information, for the year prior to the academic year for which you are applying Income tax information for yourself and spouse, if you are married, and for your parents if you must provide parent informationEstimated tax information if tax return not yet completed Records of untaxed income, such as child support and interest income

  • Using Estimated Tax Information on the FAFSAStudents and/or parents who have not completed their 2013 tax returns may submit a FAFSA using estimatesFiling FAFSA with estimated numbers allows students to file early to meet priority deadlinesResources to assist with estimating tax data may be obtained through the IRS website www.irs.gov/formspubs/index.html After tax returns are completed, income or tax information should be submitted on the FAFSA

  • IRS Data RetrievalFamilies are STRONGLY encouraged to use IRS Data Retrieval process to import tax information directly from the IRS database into the FAFSA

    Prompts in the tax information section of the FAFSA on the Web will guide student/parent through IRS data retrieval option

  • IRS Data Retrieval

    If using estimated tax information to file the FAFSA early, as recommended, later corrections to submit completed tax information should be made using IRS data retrieval

  • Federal Student Aid PIN Students and parents of dependent students must have PIN to complete FAFSA on the WebStudents and parents may apply for a PIN early and do not have to wait until the FAFSA is available January 1, 2014

  • FILING THE FAFSADependency Status 2013 High School Counselor Workshops

  • Dependency Status:Criteria for Independent StudentsAt least 24 years of age on or before December 31st of the award year Graduate or professional student Married Has children or dependents other than a spouse for whom the student provides more than half supportServing on active duty in the U.S. Armed Forces for other than training purposes Veteran of the U.S. Armed Forces

  • Dependency Status:Criteria for Independen