After the FAFSA

ISFAA

High School Guidance Counselor Workshop

2012

Agenda Updates/Changes FAFSA Completion Tool The Student Aid Report (SAR) IRS Data Retrieval - Corrections Professional Judgment Cost Comparison Worksheet The Financial Aid Office

Updates and Changes

Reference www.studentaid.ed.gov

Eligibility of Students Without a High School Diploma – July 1, 2012

Federal Pell Grant Program – Duration of Eligibility

Direct Student Loan Changes – Interest Rates and subsidies

FAFSA Completion Tool Allows high schools to track the

students who have completed/submitted a FAFSA

Information is reported by: State FAFSA’s submitted online FAFSA’s completed (not yet submitted)

http://studentaid.ed.gov/about/data-center/student/application-volume/fafsa-completion-high-school

SAR

Student Aid Report

Paper SAR

Paper SAR Acknowledgement

Email Notification of SAR Processing

CorrectionsFamilies submit the FAFSA with estimated tax information to comply with Indiana State Deadline of March 10th.

Use the IRS Data Retrieval Tool to update the income information on the FAFSA before May 15th.

Correct information that was reported incorrectly as of the date the FAFSA was originally completed.

IRS Data Retrieval

IRS Data Retrieval

IRS Data Retrieval

IRS Data Retrieval

Professional Judgment

When is professional judgment used?

How does the process work?

Who makes determination?

Cost Comparison

Cost of Attendance

Direct Costs

Indirect Costs

Federal Shopping Sheet

Cost of Attendance Can Include:

Tuition Standard Fees Room and Board Books and Supplies Transportation Personal Expenses

Allows students to receive financial assistance for both the direct and indirect cost of attending an institution.

Direct Costs “Standard” charges for students as a whole or a

specific cohort of students (i.e. in-state vs. out-of-state, tuition by major, etc).

Charged directly to student account / documented on billing statement as charges owed to the school

Tuition, fees, on-campus room, board

Indirect Costs

Costs associated with attending the school which will vary from student to student.

May not be documented on billing statement as charge is not from school.

Books and supplies Travel costs in getting from home to school, vice

versa Personal: laundry, health, entertainment, etc

Federal Shopping Sheet• New for 2013/2014 academic year• Result of Department of Education

collaboration with students, parents, college counselors, and aid administrators.

• Schools are not mandated to use the form (at this time)

• http://collegecost.ed.gov/shopping_sheet.pdf

Building Relationships

Tools and Checklist

http://studentaid.ed.gov/prepare-for-college/checklists/12th-grade

Questions