Marist College I l ALV M:\V VOKK ONI.INI-: An 4')r - - PDF document

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Marist College I l ALV M:\V VOKK ONI.INI-: An 4')r - - PDF document

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9/11/2019 Marist College I l ALV M:\V VOKK ONI.INI-: An 4')r I'lnanciial Y\id .'uui div i-AI\SA M Ainsi Agenda Whtl b fi ntncal id? Cost of tncndmcc (COA) Free Applkadoa fo r Federal Stadeat Aid (FAFSA)

slide-1
SLIDE 1

Marist

College

I l ALV

  • M:\V

VOKK

  • ONI.INI-:

An

4')r

I'lnanciial Y\id .'uui div i-AI\SA

M

Ainsi

9/11/2019

Agenda

  • Whtl

b

fintncal

«id?

  • Cost
  • ftncndmcc

(COA)

  • Free

Applkadoa

for Federal Stadeat Aid

(FAFSA)

  • Expected

Family Comifoation (EFCl

  • What

is

finandal

need?

  • Souroeaoflinaadalaid
  • The

CSS PROFILE

MAKIS-r

What

is Financial

Aid?

I'ijiajiCial :2k! 'ti iU

^hidrnLv

ikintficrs U> ;2jv

3

  • l

(

AM

MAKISr

slide-2
SLIDE 2

9/11/2019

What

is

Cost

  • f

Attendance

(COA)?

  • Btllable

costs

Inciuilrt:'.

  • Notpbitlable

costs

  • TuilitVi itaJ I'cc?:
  • Varies

fiom college to college

  • fiijom

itJ BoiftJ

  • l.tooVs

« iruwl

maklstI

Completing the

FAFSA

www.fafsa.ed.gov

Create an

FSA

m

and pmitflfdalhttps feakl edyov npa& tpdc Tbe FSA ID wtU provUe coccss to cemia

US. Dqwtwcn

  • f
  • Doth

the ittilcnt <nd

a pmcl dcdJ

m

FSA [Dandpxisverd

to dcctrcnically tigp tfccFAFSA Provide

a

valid

email address for (he Studeat Aid Rqwrt

(SAR)

to be emailed

m

>>5 days

tMAKIb'l'

Prior-Prior

Year

FAFSA

The2020'202i

FAFSA b

avatUtle to

fi

le as

  • f

October 1.2019

you CAN SUBMIT USING TAX THE FAFSA FROM INFORMATION

FROM OCTOeCRV2019 juMEsasoeo AJLyi.mo- JUNEmMtt

JURIST

slide-3
SLIDE 3

9/11/2019

Documents Used

to

Complete

the

FAFSA:

  • Federal

bMone Tax

RctnnisClRSDatt Retrieval)

  • W-2*i
  • Driver's

Hoease

&

SSN

  • Records

efBotaxed iaeone

  • dtild

snpportreccived^wd

Business

dli

records Records

  • fstocks,

bonds

&

investmenls Alien R^istnition munberlARNKifnot

aU.S. dtizen

.MAKIS'I

IRS

Data

Retrieval Tool

  • Lftilize

die

IRS Data

Retrieval

  • IRS

win

suthenticste taxpayer's idcntisy

  • Ifmatch

fbood. IRS populates tax mformxttoa

  • Applicant

dtooscs whether

  • r

not to transfer dsta to the

FAFSA

httpt:/yttutlrat«ld«Ly<»/ML'feAOufr»vlrwlrt.teit

MAItlST

How

Does The

FAFSA

work?

J

ti

itiMfflditeui

L

f

Si

t\

iMAKIS'l

slide-4
SLIDE 4

9/11/2019 What

is

the Expected Family Contribution (EFC)?

* Ctlculated unng data

frotti ihe

fedenl applicadoti form

(FAFSA)

and a fodml

  • formula. Ills

used to detenntaesQideat aid dtgibUHy. * For the 202O-21 academic year, the

FAFSA may be

fi

led

beting

October 1, 2019 * Amount fomily can reasonably beexpeoed to contribute * Stays the same regardless

  • f

college

.MAKIS1

5

Factors Considered in Calculating the

EFC:

  • 1. Income
  • 2. Assets

y Household

size

  • 4. Number
  • f

stsdcnis

b coD^

  • 5. Age
  • f
  • Mcr

parent

! rCiB^icit nut

AniiS>

AIAKLST

What

is

Financial

Need?

Cost

  • f

Attendance

  • F.xnecled Kaniilv Cotitrilnition

tl-.fC)

=

Financial

Need

1

makistI

slide-5
SLIDE 5

9/11/2019

Types

  • f

Financial

Aid

Ctfl

AM; Sdtoltnhtps (meriVacadaaic) Grtatt (oeed based)

  • Need

based: Federal College

Work Study * Non-need

based:

Campos

Employneiit

.MAKIST

Gift

Aid: Scholarships

  • Academic

Schoianhtp

  • Atomnilcgacy

SefeoUfthip

  • Athldie

ScboUrship

  • Music

SdMlaishtp

  • Theatre

Scbolsnfaip

  • ROTC

Sdtolanhtp

  • NY

State Scbolanhip for Academic EaceQencc

■

New Ycsk

Slate Achievement and

Investment

m

Merit Scholarship

(NY- AIMS)

Prtvale

  • Endowed

Scholanhips

  • Outside

Scholanhips

AlAKIST

Gift Aid:

Grants

  • Federal

Pell

Gnnt: $657

  • $6,195
  • Supplemental

Educational Opportanhy Grant

(SEOG)

  • TEACHGrant:

upto$4,000/year<$16.000over4years>

State

  • NY

State

TAP: $500

  • $5,165

* Need-Based Grant

in Aid

.MAKIST

slide-6
SLIDE 6

9/11/2019

Student

Employment

Allows student to earn cnooey to help pay educattooal costs and team *Yeal

life" work

skills

Awarded as Camptts Work Study

  • r

Campus Employmcnl

Earnings not

^lied

toward the

bH

Student receives

a paychedc

MAKIS'I

Federal Direct Loans:

(Subsidized

and

Unsubsidized)

nir»et

* Need'Based * Ooverement pays interest canted while

b

school

lltitnt>tMl>^ r>li^ I^ii.

* Financial need

b

not

a

cottstderation

* btteresl

ts accrued

*

Interest

payments can be made cr deferred

I'tr^htiun luvt jflouji lojnlidih

S5JOO

.MAIUST

Federal Direct

PLUS

Loan

* Bctrowers arc parents

  • fdcpeodcat

FAFSA must be

fi

led to leccitc

a

Federal

PLUS

Loan Aottnal loan

timtt: cost

  • f

atteadaaee minns aD

  • ther

financial

aid

Repayment begins

after final

dtsbuncmcpt for the year unless granted

a defcmcnt

iMARIST

slide-7
SLIDE 7

9/11/2019

Private

Loans

* Loao ta the student's neme * Credit-tuaed * CaabonowaptodtecostofaneBdaacemtassallothcrfaancial etd

■

lotcscst

nto

(fixed

  • r

varbbk). tamx. aad fees vaiy with tender

.MAKiST

Monthly Payment Plan

  • Convcftienialtenative

to tomp-sua. semester payments

  • Payments

can be made

  • ver

a

specified lime period

■

Annual qtpUcalson fee

  • No

credit review

MAKISr

The

College Scholarship Service

(CSS)

Financial

Aid

PROFILE

  • Used

by some

colleges

and

umversittes to award their

  • wn

instctutioiul finftncia! aid (bnds.

Ttus form ts in addition to compteting the

PAFSA.

  • Available

October l,20l9.Review thecolleges' websita to determine ifthe PROFILE

Is required

  • r

for priority fi ling dates.

  • S25

for the

tnttial ^ticadon;

S16

charged for each additional college you request

  • Students

register

and complete dte PROFILE

  • nline

at

  • PROFILE

is

001 lequired for ftdenl

finandai

aid

MARIST

slide-8
SLIDE 8

9/11/2019

Additional Information Reported

  • n

the CSS PROFILE VS.

FAFSA

Hotoe value^mtMlgage mfoRnation

Privtte scbool ttthica Butness

  • wner

mfofination

MedicKl tad dcottl expenses Non-custodial parent infbimarioo Outstanding debts Projected

financial

iofbnnatioo for

dw

  • otniag

year Espfartttica

  • fspecial

dfcunutaaces

.MAKIST

Overall Points to

Remember

  • Read

the

FAFSA tod PROFILE

in$tm<tica> caicfeDy

  • rtnancial

aid and state requtrcmeals

and may vary with

tnstttuiions

  • The

FAFSA most be

completed eriatewed every year the student

b

in

colkgc

to

  • rder

to

be efigble for

fioaitcial

aid

MAItlS'l

Key

Web

Sites

Federal Student Aid Downloadable Rcsousccst

FAFSA

  • n

the

Web:

faf-caed yu Department

  • f

Education Student Information; hitp ;«.ttirffntaid m

New

York State TAP:

u nygm Net

Price Calculator:

A

tool used to estimate net cost

  • fa

specific institution

Marbl CoHege Of!ice

  • fStodem

nnandsl

Services;

mami

afa ^

Financial Aid Videos: bwp<- mnrin »dii

IMAKIST

8