FA Basics

FA Basics

Today we will cover the following: Cost of Attendance Basic Packaging Student Eligibility

Cost of Attendance

Cost of Attendance

Should reflect what the student may spend for college in an academic year.

Used to determine eligibility for federal student aid.

Pell Cost of Attendance – 2 Semesters/900 clock hours.

Total Cost of Attendance.

Cost of Attendance

Basic components of COA: Tuition and Fees Books, supplies, miscellaneous personal

expenses, transportation Can include an allowance for the purchase (or

rental) of a computer. Room and Board

Cost of Attendance

Other allowances Study abroad expenses Educational loan fees Dependent Care expenses Disability related expenses Cooperative education program expenses First professional credential cost

Cost of Attendance

Tuition and Fees May use actual tuition cost or an average Must do the same for all students within an

established category. Overall average must be a weighted average. Fees may be included if it is necessary for the

student’s program or if required of all students or all students in an established category.

Cost of Attendance

Books, Supplies, Transportation, Miscellaneous Personal Expenses Books & Supplies: can use a single allowance,

or allowances for different categories Computer allowance

Transportation: the allowance must be reasonable

Misc. Personal Expenses: should enable a reasonable standard of living

Cost of Attendance

Room and Board Living with parents Living on campus Living off campus

Cannot include expenses of other members of the household.

Packaging

Packaging

Cost of Attendance - Expected Family Contribution = Need

Packaging

Need based packaging:Cost of Attendance

- Expected Family Contribution - Federal Pell Grant - Estimated Financial Assistance = Remaining need for need based aid

Packaging

Non-need based packagingCost of Attendance

- Federal Pell Grant - Other aid already awarded - Estimated Financial Assistance = Remaining need for non-need based aid (unsubsidized Stafford & PLUS)

Packaging

Goal: to provide sufficient resources to meet COA.

Set realistic self-help aid (such as loans and employment) expectations

Distribute resources across student population fairly and equitably

Recruit and retain students

Packaging

Must make funds reasonably available to all eligible students.

School may prioritize packaging categories

Student Eligibility

Student Eligibility

Enrolled as a regular student in an eligible program at an eligible institution.

Have a high school diploma or equivalent, or: complete a home school program and meet state

requirements if starting college before July 1, 2012 may pass an

approved ability to benefit test or successfully complete 6 credit hours.

Student Eligibility

If male, be registered with Selective Service (some exceptions apply)

Be a U.S Citizen or eligible non-citizen: Permanent resident Conditional permanent resident Have an I-94 showing one of the following:

Refugee Asylum Granted Parolee (for a minimum of one year, and not expired) T-Visa holder Cuban-Haitian entrant

Letter from DHS showing “Victim of Human Trafficking”

Student Eligibility

Not be in default on a Title IV loan or owe an overpayment on a grant or loan.

Cannot have borrowed over annual or aggregate loan limits.

Maintain Satisfactory Academic Progress (SAP)

Not have a drug conviction (see requirements)

Student Eligibility

When the FAFSA is processed CPS confirms eligibility with: Social Security Administration (SSA) National Student Loan Data System (NSLDS) Selective Service Department of Homeland Security (DHS) Department of Veterans Affairs (VA) Department of Defense Department of Justice

Student Eligibility

SSA Confirms student (and parents’) social, name and date

of birth That social does not belong to a deceased person Confirms if student is a U.S. Citizen

If this is not confirmed then the student needs to provide proof of U.S. citizenship and should be encouraged to update this with SSA.

NSLDS Aggregate and annual loan limits Defaults Overpayments

Student Eligibility

DHS Confirms whether or not the student is an

eligible non-citizen. If not confirmed then the student needs to

bring in documentation showing status (such as a permanent resident card or I-94).

A copy must be made and mailed to USCIS for a manual secondary confirmation of status.

If not confirmed then the student does not qualify for aid.

Application Issues

Household SizeNumber in CollegeIndependent vs Dependent

Marital Status Legal Guardianship/Orphan/Emancipated

minor/Foster Care Homeless Veteran Active Duty Dependents

Divorce

Questions?

Resources

www.ifap.ed.gov Federal Student Aid Handbook

Application and Verification Guide Dear Colleague Letters

Colleagues in UASFAA – networking is an essential part of working in financial aid!!!

RMASFAA – Summer InstituteNASFAA – AskRegsGoogle It!!!