ISFAA High School Counselor Workshop Fall 2013. Agenda … Parental Information After the FAFSA ...

ISFAA High School Counselor Workshop

Fall 2013

Agenda …

Parental Information

After the FAFSA

Available Tools

2014-15 FAFSA-Parental Information Collection Dependent students will include income

information from their legal parents (biological or adoptive) regardless of parents’ marital status or gender, if those parents live together.

If the student’s legal parents are not married and they do not live together, it is still only the parent the student lived with more in the previous 12 months.

2014-15 FAFSA-Parental Information Collection Parents will first be asked to respond to a

question on their marital status. Never married

Unmarried and both parents living together

Married or remarried

Divorced or separated

Widowed

2014-15 FAFSA-Parental Information Collection

The FAFSA will instruct a dependent student to provide information about both of the student’s legal parents regardless of the parents’ marital status or gender, if the parents live together.

2014-15 FAFSA-Parental Information Collection

The initial guidance from the Dept. of Education was issued prior to the repeal of the Defense of Marriage act.

Expect that this information might be updated prior to the FAFSA filing season so stay tuned for more details.

2014-15 FAFSA-Parental Information Collection

Dependent Student’s Parents’ Household Comprised Of:

Data from 1 or 2 Parents Collected?

Data from 1 or 2 Parents Collected?

2013-2014 and Prior 2014-2015 and Forward

Single legal parent 1 Parent 1 Parent

Two legal parents who are husband and wife

2 Parents

2 Parents

Legal parent and stepparent 2 Parents 2 Parents

Two legal parents who are unmarried (regardless of gender), or who are of the same sex and are married, as recognized by a State or foreign country

1 Parent 2 Parents

What happens after a FAFSA is filed?Usually 1 of 3 results:Official EFC: financial aid office calculates aid package.

Rejected FAFSA or “c flag”: student needs to submit documentation.

FAFSA identified for verification: we need documentation.

Examples of FAFSA Rejects

Parent name, SSN, or DOB do not match with record at Social Security Administration.

Dependent student’s parent did not sign the FAFSA.

Amount of tax paid reported ≥ adjusted gross income.

Examples of C flags Student not confirmed as registered with

Selective Service System.

Citizenship status or eligible noncitizen status not confirmed.

Question 23/drug conviction.

Pell grant or FSEOG overpayment.

Student loan default.

Unusual enrollment history.

Verification: 2014-15 # in household, # in college, tax & income,

SNAP, child support paid?

Child support paid?

HS completion, identity, affirmation of educational purpose, SNAP, child support paid?

HS completion, identity, affirmation of educational purpose, + list in #1 above?

Household resources: untaxed income + list in #1 above?

My FAFSA result is misleading because… Contact college financial aid office to

request consideration of special circumstances.

Will be asked to submit verification and other supporting documentation.

Financial aid officers can make professional judgment.

Comparing School Aid Offers Financial Aid Packages

What’s included in the aid offer Type(s) and Amount(s)

Federal State Institutional Gift Loans Work

Comparing School Aid Offers What will I pay?

Determine the out-of-pocket cost How much does the school cost What aid options are available

Gift

Loans

Work

Cost – Aid Option(s) = Out-Of-Pocket

Comparing School Aid OffersTools Available

Net Price Calculator

www.studentaid.ed.gov

How you can help:

Financial Aid Night

College Goal Sunday: Feb. 23, 2014

April & May reminders: Check college mail, e-mails, data access

May 1 reminder: Check e-Student at www.in.gov/ssaci for edits