Financial Aid Presentation Shauna Crosscup Financial Aid - - PowerPoint PPT Presentation
Financial Aid Presentation Shauna Crosscup Financial Aid Manager-New River Community College Frequently Used Terms Award Terms Application Terms FAFSA-Free Application Pell for Federal Student Aid Work-Study FSA
Shauna Crosscup Financial Aid Manager-New River Community College
Application Terms
► FAFSA-Free Application for Federal Student Aid ► FSA ID-Federal Student Aid ID ► Prior Prior Year ► SAR-Student Aid Report ► EFC-Estimated Family Contribution ► ISIR-Institutional Student Information Report
Award Terms
► Pell ► Work-Study ► Subsidized Loan ► Unsubsidized Loan ► PLUS Loan ► FSEOG ► COMA ► VGAP
Items Needed to Complete the FAFSA
► Username and Password (FSA ID)
► https://studentaid.ed.gov/sa/fafsa
► 2018 Taxes, W2s
► If there has been a significant change in income from 2018 taxes student and parent(s) will complete a Request for Recalculation Form
► Untaxed Income ► Social Security Numbers (Parent and Student) ► Student’s Driver’s License Number ► Information on cash, savings, and checking ► Investments
► Stocks and Bonds ► Real Estate (Not the Home You Live In) ► Business and Farm Assets
►
https://studentaidhelp.ed.gov/app/answers/detail/a_id/1976/~/i%E2%80%99 m-a-parent.-how-do-i-report-education-savings-accounts-%28e.g.-529-college
► Who determines custody?
► Juvenile & Domestic Relations Court ► Found in Chapter 11 of Title 16.1 “Courts Not of Record” in the Code of Virginia
► When may custody be granted?
► When a child is in need of services, during a divorce, or when allegations of abuse or neglect are being investigated.
► For how long?
► Varies – best advice is to read the court order, but know that it is usually temporary
► Who determines guardianship?
► Circuit Court – the Court of Record in Virginia ► Found in Chapter 17 of Title 64.2 “Wills, Trusts, and Fiduciaries”, Subtitle IV “Fiduciaries and Guardians”, Part C “Guardianship of Minors” in the Code of Virginia
► When may guardianship be granted?
► When it is necessary for the benefit and protection of the child. Guardians assume physical and legal custody of the child and all rights and responsibilities of “natural guardians” (Parents)
► For how long?
► Permanent; and usually only terminates via death of the guardian, the child reaching the age of majority, or further court order.
Next Steps After Submitting FAFSA
► Admissions Applications ► Pay Close Attention to Deadlines ► https://schev.edu/index/tuition-aid/financi al-aid-deadlines-2 ► “After the FAFSA: What Happens Next?” ► https://youtu.be/1c1gNefSw78?t=171 ► Apply Yearly
► College Scholarship Service Profile
► Online financial aid application maintained by the CollegeBoard ► Used by approximately 400 colleges, universities, and scholarship programs ► Used in addition to the FAFSA ► more detailed application ► The college or scholarship program will instruct the student to complete if it is required
► Most scholarships are awarded through the institution ► Check each school’s financial aid page to find scholarships specific to the institution
► Some have a separate required scholarship application ► Many merit based scholarships have an earlier application deadline
► Check Scholarship Blog often on BHS website
► Go to “Counseling Office” tab ► Arranged by scholarship deadline ► Many local scholarships available in the spring
► Scholarships also announced on Twitter
► Follow @BburgHSBruins
► Reputable Scholarship Search Sites: ► Fastweb.com ► Collegeboard.org ► Scholarships.com ► Putting in time and effort will pay off ► Some scholarships require a lot of work from you, whereas
► These are a lot like winning the lottery - someone has to win! ► Check with: foundations, religious or community organizations, local businesses and civic groups, professional organizations for your intended major ► Ask your family members about scholarships offered through their employers or clubs in which they belong - PEO, VFW, etc.
► Organization Tips:
► Establish a new email for college applications/scholarships ► Make a spreadsheet identifying award amounts and deadlines ► Set a weekly/monthly goal for the number of scholarships to which you will apply - treat this like a part-time job
► Essay Writing Tips:
► Learn who your audience is - go to the organization’s website and read their mission statement and organizational goals/objectives ► Read previous winning essays ► Pay close attention to details and meet all essay requirements ► Have someone review your rough draft and make revisions ► Reuse essays if applicable and tweak as needed ► Don’t try too hard to make it fit - may have to re-write
► Avoid Scholarship Scams:
► NEVER pay for a scholarship search - free money shouldn’t cost you anything
Wednesday, October 9th - 5:00-8:00 - BHS Library ► Both student and parent should attend - need both FSA ID’s to log-in and sign/submit the FAFSA ► Bring charged chromebook and all 2018 relevant tax information for student AND parent:
► SSN ► Driver’s License ► 2018 tax returns including W-2’s for student, parent(s) ► Records of untaxed income such as child support received, interest income, and veterans’ non-education benefits ► Information on cash/savings/checking account balances, investments, and business and/or farm assets ► Alien Registration Number (if not a U.S. citizen)
Questions