Florida Atlantic University Florida Atlantic University Transfer Expo Transfer Expo

The Financial Aid ProcessThe Financial Aid ProcessPresented

by

Derek Phillips , Coordinator

Financial Aid Office

Dphillip@fau.edu

What is Financial Aid?What is Financial Aid?Money to pay for college or career schoolMoney to pay for college or career school

ScholarshipsScholarships

GrantsGrants

Employment opportunities Employment opportunities

Loans Loans

Who can get federal student aid? Who can get federal student aid? General Student Eligibility Criteria:General Student Eligibility Criteria:

Must be enrolled or accepted for enrollment in Must be enrolled or accepted for enrollment in eligible program of studyeligible program of study

Must be pursuing degree, certificate, or other Must be pursuing degree, certificate, or other recognized credentialrecognized credential

Must be U.S. citizen or eligible noncitizenMust be U.S. citizen or eligible noncitizen Must be registered with Selective Service Must be registered with Selective Service

(if male and required)(if male and required) May not have eligibility suspended or terminated May not have eligibility suspended or terminated

due to drug-related convictiondue to drug-related conviction

Free Application for Federal Free Application for Federal Student Aid (FAFSA)Student Aid (FAFSA)

Required by ALL financial aid officesRequired by ALL financial aid offices Required to obtain federal and most state aidRequired to obtain federal and most state aid Deadlines vary from school to schoolDeadlines vary from school to school Several filing methods:Several filing methods:

− Mail – obtain form through high school Mail – obtain form through high school guidance guidance counselor or the college financial aid office;counselor or the college financial aid office;

− Web – Web – www.fafsa.gov

− Tip: Filing online will speed processing by 1 to 2 weeks Tip: Filing online will speed processing by 1 to 2 weeks and will help you avoid making common errors.and will help you avoid making common errors.

What information do I need to What information do I need to complete a FAFSA accurately?complete a FAFSA accurately?

Your Social Security number and parents’ numbers, if you’re a Your Social Security number and parents’ numbers, if you’re a dependent student.dependent student.

2011 W-2 forms and other records of money earned by you and 2011 W-2 forms and other records of money earned by you and your parents.your parents.

Your 2011 Federal Income Tax return.Your 2011 Federal Income Tax return. Your parents 2011 Federal Income Tax Return (if you’re a Your parents 2011 Federal Income Tax Return (if you’re a

dependent student).dependent student). Your 2011 untaxed income records (i.e., social security payments)Your 2011 untaxed income records (i.e., social security payments) Your current bank statements and investment records. Your current bank statements and investment records. Your alien registration card (if you are not a U.S. citizen).Your alien registration card (if you are not a U.S. citizen).

Student Financial Aid PIN RegistrationStudent Financial Aid PIN Registration

Web site: Web site: www.pin.ed.govwww.pin.ed.gov

Can get PIN before Can get PIN before January 1, 2012January 1, 2012

Not required, but speeds Not required, but speeds processingprocessing

May be used by students and parents throughout aid May be used by students and parents throughout aid process, including subsequent school yearsprocess, including subsequent school years

FAFSA on the WebFAFSA on the Web

Web site: Web site: www.fafsa.govwww.fafsa.gov 2012-13 FAFSA available on or after January 1, 20122012-13 FAFSA available on or after January 1, 2012

Pre-Application Worksheet & built-in edits to help Pre-Application Worksheet & built-in edits to help prevent costly errorsprevent costly errors

7 Easy Steps for Transferring Students 7 Easy Steps for Transferring Students

Complete Admissions process & meet with a Academic Complete Admissions process & meet with a Academic advisor advisor

Contact your old & new financial aid officeContact your old & new financial aid office Contact the lender (or holder) of your student loansContact the lender (or holder) of your student loans Maintain Continuous Enrollment Maintain Continuous Enrollment Transfer your FAFSA (FAU School Code E00584)Transfer your FAFSA (FAU School Code E00584) Transfer your Bright Futures File (FAU School Code 501)Transfer your Bright Futures File (FAU School Code 501) Familiarize yourself with the university website (MyFau) Familiarize yourself with the university website (MyFau)

and deadline dates and deadline dates

Basic Application FlowBasic Application Flow

1.1. Student and school receive FAFSA information from Student and school receive FAFSA information from federal processor (student receives the Student Aid federal processor (student receives the Student Aid Report (SAR) and school receives information Report (SAR) and school receives information electronically)electronically)

2.2. School matches admission records for financial aid School matches admission records for financial aid application and determines eligibilityapplication and determines eligibility

3.3. FAU emails award notification to student’s FAU email FAU emails award notification to student’s FAU email address.address.

4.4. Student accepts or declines awards using online process Student accepts or declines awards using online process by logging into MyFAU. by logging into MyFAU.

FEDERAL PROGRAMSFEDERAL PROGRAMS

Federal Pell GrantFederal Pell Grant Federal Supplemental Educational Opportunity Federal Supplemental Educational Opportunity

Grant (SEOG)Grant (SEOG) Teach Grant (www.teachgrant.ed.gov)Teach Grant (www.teachgrant.ed.gov) Iraq & Afghanistan Service Grant Iraq & Afghanistan Service Grant Federal Perkins LoanFederal Perkins Loan Federal Direct LoansFederal Direct Loans Federal Work Study Federal Work Study

STATE PROGRAMSSTATE PROGRAMS

FINANCIAL AID SOURCES FORFINANCIAL AID SOURCES FOR FLORIDAFLORIDA STUDENTSSTUDENTS– Florida Student Assistant Grant (FSAG)Florida Student Assistant Grant (FSAG)– Florida Resident Access Grant (FRAG)Florida Resident Access Grant (FRAG)– Bright Futures ScholarshipBright Futures Scholarship– First Generation Matching Grant ProgramFirst Generation Matching Grant Program– Florida Fund for Minority Teachers Program Florida Fund for Minority Teachers Program – Jose Marti Scholarship Challenge Grant FundJose Marti Scholarship Challenge Grant Fund – Rosewood Family Scholarship FundRosewood Family Scholarship Fund – Mary McLeod Bethune ScholarshipMary McLeod Bethune Scholarship – Scholarships for Children of Deceased or Disabled VeteransScholarships for Children of Deceased or Disabled Veterans

www.floridastudentfinancialaid.org

BRIGHT FUTURESBRIGHT FUTURES

Change of InformationAn applicant must notify the Office of Student Financial Assistance of any change in name, address, or institution attended. A student may update information in the following ways:

•By accessing and updating the student record on the Office of Student Financial Assistance website at

www.FloridaStudentFinancialAid.org.  •By accessing and updating the student record on the Florida Bright Futures Scholarship Program website at

www.MyFloridaEducation.com/brfuture, using the assigned Bright Futures Logon ID and PIN numbers; or •By calling the Office of Student Financial Assistance toll free at 1-888-827-2004

FAU ScholarshipsFAU Scholarships

There are a host of scholarships available to assist students There are a host of scholarships available to assist students with their educational expenses. Review scholarships at with their educational expenses. Review scholarships at www.fau.edu/finaidwww.fau.edu/finaid and and fau.edu/admissionsfau.edu/admissions

1. 1. Freshman/Transfer/International Scholarships 2. 2. General Scholarships 3. 3. Other Scholarships 4. 4. Pepsi Cola Scholarships 5. 5. Prestige Scholarships 6. 6. Community Foundation Scholarship Program (Broward County) (Broward County) 7. 7. Community Foundation Scholarship Program (Miami-Dade County) (Miami-Dade County) 8. 8. Scholarship Search Engine (Student Aid on the Web) (Student Aid on the Web)

Private Scholarship SearchPrivate Scholarship Search

FreeFree Internet scholarship search engines: Internet scholarship search engines:

FinAid on the Web: www.finaid.orgFinAid on the Web: www.finaid.org FastWeb: FastWeb: www.fastweb.comwww.fastweb.com College Board: College Board: www.collegeboard.comwww.collegeboard.com FAU: FAU: fau.edu/finaid State Financial Aid Resources: State Financial Aid Resources:

www.going 2college.orgwww.going 2college.org www.petersons.comwww.petersons.com

INTERNATIONAL STUDENT INTERNATIONAL STUDENT SCHOLARSHIPSSCHOLARSHIPS

International Education Financial Aid International Education Financial Aid www.IEFA.Orgwww.IEFA.Org

Edupass Edupass www.Edupass.org www.Edupass.org

General Information General Information www.FinAid.Orgwww.FinAid.Org

Leo S. Rowe Pan American Fund (Interest Free Loans Leo S. Rowe Pan American Fund (Interest Free Loans for Latin American and Caribbean Students) for Latin American and Caribbean Students)

www.Oas.Org/Rowewww.Oas.Org/Rowe

MilitaryMilitary

If you are in the armed forces or have If you are in the armed forces or have family members in the service, visit these family members in the service, visit these sites to find out more about grants, sites to find out more about grants, repayment, and forgiveness options.repayment, and forgiveness options.

www.studentaid.ed.gov/military www.fau.edu/veteranswww.fau.edu/veterans www.military.comwww.military.com

Stafford LoansStafford Loans

Subsidized: Must demonstrate “need”Subsidized: Must demonstrate “need” Unsubsidized: Not based on “need”Unsubsidized: Not based on “need” BaseBase annual loan limits (combined subsidized annual loan limits (combined subsidized

and unsubsidized):and unsubsidized):

– $3,500 for 1st year undergraduates$3,500 for 1st year undergraduates

– $4,500 for 2nd year undergraduates$4,500 for 2nd year undergraduates

– $5,500 for each remaining undergraduate year$5,500 for each remaining undergraduate year

– $8,500 for each year of graduate/professional study$8,500 for each year of graduate/professional study

Stafford LoansStafford Loans

AdditionalAdditional unsubsidized loan eligibility for unsubsidized loan eligibility for independent undergraduate, graduate, and independent undergraduate, graduate, and dependent students whose parents are unable to dependent students whose parents are unable to borrow PLUS:borrow PLUS:– $6,000 per year for 1st and 2nd year undergraduates$6,000 per year for 1st and 2nd year undergraduates

– $7,000 per year for remaining years of $7,000 per year for remaining years of undergraduate studyundergraduate study

– $12,000 per year for graduate/professional study$12,000 per year for graduate/professional study

Things you should know about FAU Things you should know about FAU

MyFAUMyFAU

To View 2012-2013 Financial Aid Information:To View 2012-2013 Financial Aid Information:

Log on to MyFAU Log on to MyFAU

Click on the Money Matters tabClick on the Money Matters tab

Click on “View 2012-2013 Financial Aid InformationClick on “View 2012-2013 Financial Aid Information

Short Term Advance Short Term Advance You must be a currently enrolled degree-seeking half-You must be a currently enrolled degree-seeking half-time FAU student. Funds will be directly deposited into the student's bank time FAU student. Funds will be directly deposited into the student's bank account. Direct Deposit of funds is preferred to go to Bank Atlantic accounts. account. Direct Deposit of funds is preferred to go to Bank Atlantic accounts. However, FAU is able to directly deposit your Short Term Advance into your However, FAU is able to directly deposit your Short Term Advance into your existing financial institution. existing financial institution.

No Paper-Checks will be issued.No Paper-Checks will be issued.

SUMMARYSUMMARY

REMEMBER!REMEMBER!

APPLY EARLYAPPLY EARLY BE ACCURATEBE ACCURATE ASK QUESTIONSASK QUESTIONS FOLLOW UPFOLLOW UP REVIEW STATUS ON ONLINEREVIEW STATUS ON ONLINE

Good Luck!Good Luck!