Financial Aid Night presented by KRESA:
January
11th is an excellent opportunity to get up to date information on the
process of applying for and getting financial aid for college. Presenters
will be from KRESA. This presentation is open to all 10th, 11th
and 12th grade students and parents. It is held at KRESA Wile
Auditorium at 7:00 p.m. For questions, please contact The Kalamazoo
Community Foundation at 381-4416.
FAFSA (Free Application for Federal Student Aid):
We
encourage all seniors planning on attending a two or four year college or
university next year to file a FAFSA form. Filing online is recommended
and strongly encouraged. All seniors had financial aid presentations in
their English classes in mid-November. Each received information about how
to file a FAFSA form and general information about financial aid and
scholarships.
*Parents, there is a link on the counseling website to access the handouts
presented in English 12 classes regarding the FAFSA and financial aid.
FAFSA Guide:
What
is FAFSA on the web?
Free
Application for Federal Student Aid (FAFSA) on the web in an internet-based
version of the paper FAFSA form that the federal government uses to determine
eligibility for aid, which includes grants, scholarships, work-study and loans.
The form collects financial aid and demographic data.
Filling out the FAFSA should be FREE… do not pay for filing out any FAFSA info
ever!
CAUTION!!
When you go to the FAFSA website, be sure it is the FAFSA.ED.GOV WEBSITE.
There is another FAFSA website that charges money!!
YOU DO NOT HAVE TO PAY ANYTHING TO FILL OUT THIS FORM!
USE WWW.FAFSA.ED.GOV
How
do I fill it out?
Visit
www.fafsa.ed.gov and click “before
beginning a FAFSA” to get started. If you want a paper copy to use as a
guide, use the pre-application worksheet—not a paper FAFSA. To download a
copy, click “print a pre-application worksheet”. Also, print a completed
FAFSA for your records!! Click “print” before you click “submit” at the
end of your FAFSA. Official paper forms for FAFSA are almost obsolete.
Students and parents must file online.
What
else should I know?
When
completing an electronic FAFSA, you will be required to provide your signature
(and a parent’s signature if you are a dependent student). There are three
different ways to do this:
1.
Use your
4-digit PIN number (read more on the PIN below) issued by the U.S. Department of
Education to electronically sign your FAFSA.
Your
parents will also need their own PINs to electronically sign your FAFSA.
2.
Print
the signature page, get the required signatures and mail the form to the address
listed on your signature page.
3.
This
last option is the slowest method and not usually recommended…
Wait
until you receive your SAR (Student Aid Report), get the required signature(s)
and return it via the U.S. Postal Service using certified mail.
What
is a PIN?
The
personal identification number (PIN) is the code that the U.S. Department of
Education uses to identify you online. A PIN allows you to (1)
electronically sign your FAFSA to speed up the process, (2) check the status of
your electronic FAFSA, and (3) make corrections to your personal information
online.
*Keep your PIN private, as it allows you (or someone else!) to electronically
sign federal documents and access confidential information!
*Don’t forget: student and parent each need a separate PIN number!
Keep these numbers private!
How
do I get a PIN?
Students
and parents who are eligible to receive a PIN can visit
www.pin.ed.gov and click on “apply for a
PIN” at the bottom of the page. You can choose to receive your PIN via
email or regular mail. You will need to submit your name, date of birth
and social security number. It takes about three business days to receive
your PIN electronically.
For
questions about FAFSA on the web or about your PIN, call 1-800-4-FED-AID.
Free application for Federal Student Aid
(FAFSA)
If your
son or daughter is planning on attending a 2 or 4 year college or university,
you should complete a FAFSA form. What is FAFSA? It is the
form that the federal government uses to determine your eligibility for federal
aid, including grants, work-study and loans. How does it work?
Using the information you supply on the FAFSA, the federal processor determines
your expected family contribution (EFC)—the amount of money your family can
contribute to your college costs. Your prospective college then applies a
simple equation to decide how much financial aid you will need.
To get
an early estimate of your EFC, check the Financial Aid Estimation Calculator at www.finaid.com. Your prospective
college will then try to meet your needs through a financial aid package made up
of funds from federal, state and private sources…as well as loans and student
employment.
Completing the FAFSA:
Tip
1:
The FAFSA becomes available after January 1, 2010.
Download
the document from the internet at
www.fafsa.ed.gov. Begin to use the practice worksheets to plan ahead.
Tip
2: Submit the FAFSA whether or not you think you qualify for financial
aid.
Sometimes being rejected for federal aid is a prerequisite for receiving private
funds.
Tip
3: Review all your data on the FAFSA every year.
Your
eligibility can change from year to year, depending on your family’s
circumstances.
Tip
4: Apply for aid as soon as possible…after JANUARY 1, 2010.
DO NOT
MAIL THE FAFSA BEFORE JANUARY 1, 2010.
Tip
5: Contact your prospective college’s financial aid office for additional
information.
Your
school may require forms besides the FAFSA or may have earlier submission
deadlines. In
4-6
weeks after completing the FAFSA, you will receive a Student Air Report (SAR).
Tip
6: Read your Student Aid Report (SAR) carefully.
The
colleges and universities to which you have applied (and those that you reported
on your FAFSA form) will send you a Student Aid Report from their school.
You and
your prospective college will each receive copies. Report errors to the
financial aid officer at your prospective school.
Tip
7: Call the Federal Processor at 1-319-337-5665 if you do not receive your
SAR in 4—6 weeks.
Be ready
to provide your Social Security Number and date of birth for verification.
Tip
8: Note your Data Release Number (DRN).
It is
the four digit number on the upper right corner of your SAR. You will need
this number to apply to additional colleges or universities.
Tip
9: Check to see if your SAR has been selected for verification.
Look
under the date for the letters EFC followed by a series of numbers.
If there is an Asterisk (*) after your EFC, your SAR has been selected.
30% of forms will be asked for “verification”… you must respond immediately!
Tip
10: If asked for SAR verification, submit the information requested to
your prospective college’s financial aid office as soon as possible.
Your aid
may be delayed or decreased if the materials are not promptly provided.
What you need to complete your FAFSA:
-
Your social security number
-
Your drivers license number, if you
have one
-
Your W-2 forms
-
Your federal income tax returns
-
If you have not yet filed your taxes, you
may use last year’s tax info and you may go back and adjust the FAFSA form after
completing the current tax year’s documents.
-
Your current bank statements and
records of stocks, bonds and other investments
-
Your records of other untaxed
income received, such as Social Security, Temporary Assistance to Needy Families
(TANF), welfare or Veteran’s Benefits
-
Your business or farm records, if
applicable
-
Your alien registration number, if
you are not a U.S. Citizen
-
If you are a dependent student, you
will also need:
-
Your parent(s) social security number(s)
-
Your parent(s) income and financial
records (as listed above)
Ø
Use
income records for the calendar year prior to the academic year for which you
are applying for financial aid.
v
For
questions once your FAFSA is filed, do not contact the Federal Government or
PNHS, call the college or university of interest.