Welcome! 1
FINANCIAL AID Saint Mary's College of California Presented by: The Office of Financial Aid Services at Saint Mary’s College of CA
Agenda ● How to Save for College ● Things to do before completing the FAFSA application ● FAFSA application process ● FAFSA Updates ● Tips ● Net Price Calculator ● State Financial Aid Programs ● Saint Mary’s Financial Aid Programs 2018-19 Saint Mary's College of California 3
How to Save for College: 4
Before You Begin Your FAFSA Create a FSA ID – StudentAid.gov/fsaid (Parent and Student) Information needed: SSN, Full Name, Date of Birth Create a username and password, and provide answers to some challenge questions The FSA ID is your legal signature and should not be created nor shared with anyone The FSA ID is used to log in to FAFSA.gov, StudentAid.gov and StudentLoans.gov 2018 – Saint Mary's College of California 5
FAFSA Application 2019-2020 Cycle ● Apply ● Retrieve IRS data ● Reapply ● Find College Codes ● 001302 www.fafsa.gov ● Check Status of FAFSA ● Make Corrections FAFSA app ● Add additional colleges ● Print SARs 6
7 Easy Steps to the FAFSA 2018 – Saint Mary's College of California 7
Name-DOB-SSN ● MAKE SURE THE NAME, DATE OF BIRTH, AND SOCIAL SECURITY NUMBER MATCH THE INFORMATION EXACTLY AS IT APPEAR ON THE SOCIAL SECURITY CARD ● IF INCORRECT SSN IS USED, A NEW FAFSA MUST BE FILED WITH THE CORRECT SSN ● DEPT. OF EDUCATION WILL CHECK TO MAKE SURE THE NAME, DOB, & SSN MATCH WHAT IS ON FILE WITH THE SOCIAL SECURITY ADMINISTRATION 2018 – Saint Mary's College of California 8
7 Easy Steps to the FAFSA 2018 – Saint Mary's College of California 9
7 Easy Steps to the FAFSA 2018 – Saint Mary's College of California 10
7 Easy Steps to the FAFSA 2018 – Saint Mary's College of California 11
Criteria for Independent Applicants AT LEAST 24 YEARS OLD BY DEC. 31 ST OF THE AWARD YEAR COVERED BY THE ● FAFSA GRADUATE OR PROFESSIONAL STUDENT ● MARRIED (DOES NOT INCLUDE CULTURAL MARRIAGE) ● HAS LEGAL DEPENDENTS WHO RECEIVED MORE THAN ONE HALF OF THEIR ● SUPPORT FROM THE STUDENT DURING SCHOOL YEAR (SIMPLY HAVING A CHILD DOES NOT MAKE A STUDENT INDEPENDENT) ON ACTIVE DUTY OR VETERAN OF THE U.S. ARMED FORCES ● ANY TIME SINCE TURNING 13 WAS/IS AN ORPHAN, IN FOSTER CARE, OR WARD ● OF THE COURT ● UNACCOMPANIED HOMELESS YOUTH AS DOCUMENTED BY: H.S. / DISTRICT HOMELESS LIAISON, AUTHORIZED SHELTER ADMINISTRATOR, FINANCIAL AID ADMINISTRATOR) 2018 – Saint Mary's College of California 12
7 Easy Steps to the FAFSA 2018 – Saint Mary's College of California 13
Providing Parents’ Information on FAFSA ● IF BIOLOGICAL/ADOPTIVE PARENTS ARE MARRIED, REPORT INFORMATION FOR BOTH PARENTS ● IF BIOLOGICAL/ ADOPTIVE PARENTS ARE DIVORCED OR SEPARATED, PROVIDE INFORMATION FOR PARENT: - STUDENT LIVED WITH THE MOST IN THE LAST YEAR - OR, IF LIVED EQUAL PERIODS EACH PARENT, PARENT WHO PROVIDED THE MOST FINANCIAL SUPPORT IN THE LAST YEAR OR MOST RECENT YEAR SUPPORT PROVIDED - IF A PARENT REMARRIED, INCLUDE STEPPARENT’S INFORMATION, EVEN IF STEPPARENT DID NOT ADOPT THE STUDENT. 2018 – Saint Mary's College of California 14
Parents’ Information ● DEPENDENT STUDENT WILL REPORT INFORMATION ABOUT LEGAL (BIOLOGICAL OR ADOPTIVE) PARENTS IF THE PARENTS ARE LIVING TOGETHER, REGARDLESS OF PARENTS’ MARITAL STATUS OR GENDER ● SAME SEX PARENTS CAN NOW REPORT MARITAL STATUS AS ‘MARRIED’ IF MARRIED IN JURISDICTION THAT ALLOWS SAME-SEX MARRIAGES, EVEN IF NOW LIVING ELSEWHERE 2018 – Saint Mary's College of California 15
Providing Parents’ Information on FAFSA •GRANDPARENTS, FOSTER PARENTS, OTHER RELATIVES AND LEGAL GUARDIANS ARE NOT CONSIDERED PARENTS ON THE FAFSA UNLESS THEY LEGALLY ADOPTED THE STUDENT •DO NOT SUBSTITUTE INFORMATION ABOUT ABOVE PARTIES IN THE PARENT SECTION ON FAFSA 2018 – Saint Mary's College of California 16
7 Easy Steps to the FAFSA 17
FAFSA on the Web 2019-2020 IRS Data Retrieval • 2017 TAX INFORMATION WILL BE NEEDED TO COMPLETE 2019-20 FAFSA APPLICATION • APPLICANTS WILL BE PROMPTED TO USE IRS DATA INTERFACE • *IF YOU CHOOSE NOT TO USE IRS DRT, YOU MAY BE SELECTED FOR VERIFICATION PROCESS 2018 – Saint Mary's College of California 18
Data Retrieval Tool (DTR) 19
7 Easy Steps to the FAFSA 2018 – Saint Mary's College of California 20
FAFSA Updates for 2019-2020 • BEGINNING WITH THE 2019–20 FAFSA CYCLE, TAX RETURN INFORMATION TRANSFERRED FROM THE IRS INTO FAFSA.GOV NOW HAS STRONGER SECURITY AND PRIVACY PROTECTIONS. • AS A RESULT, THE TAX INFORMATION TRANSFERRED FROM THE IRS DOES NOT DISPLAY ON THE IRS DRT WEB PAGE, IN THE FAFSA FORM, OR ON THE STUDENT AID REPORT. • INSTEAD OF THE USER’S TAX INFORMATION BEING DISPLAYED, THE PHRASE “TRANSFERRED FROM THE IRS” APPEARS IN THE APPROPRIATE FIELDS ON FAFSA.GOV. 2018 – Saint Mary's College of California 21
•WE STRONGLY DISCOURAGE CLEARING THE INFORMATION. THE IRS DRT REMAINS THE FASTEST, MOST ACCURATE WAY TO INPUT YOUR TAX RETURN INFORMATION INTO THE FAFSA FORM. ADDITIONALLY, USING THE IRS DRT TO ENTER YOUR TAX INFORMATION INTO THE FAFSA FORM MAY REDUCE THE AMOUNT OF PAPERWORK YOU NEED TO PROVIDE TO YOUR SCHOOL LATER. •IF, DESPITE THIS, YOU STILL WANT TO CLEAR THE INFORMATION TRANSFERRED VIA THE IRS DRT AND ENTER YOUR TAX INFORMATION MANUALLY—AND YOU HAVEN’T SUBMITTED THE APPLICATION OR CORRECTION YET—YOU CAN CLICK “CLEAR ALL DATA” AT THE BOTTOM OF FAFSA.GOV. JUST KNOW THAT BY DOING SO, THE ENTIRE APPLICATION OR CORRECTION WILL BE CLEARED, AND YOU WILL HAVE TO START THE ENTIRE APPLICATION OR CORRECTION OVER AGAIN. 22
Assets INCLUDE DO NOT INCLUDE MONEY IN CASH, SAVINGS AND HOME YOU LIVE IN CHECKING INVESTMENT FARMS RETIREMENT ACCOUNTS INVESTMENTS INCLUDING STOCKS, FARM YOU OWN AND FARM (INCLUDING BONDS, MUTUAL FUNDS LAND, LIVESTOCK, MACHINERY, ETC) RENTAL REAL ESTATE BUSINESS YOU OWN AND OPERATE IF IT HAS 10 OR LESS EMPLOYEES TRUST FUNDS VALUE OF LIFE INSURANCE STOCKS, CDS, BONDS, MUTUAL FUNDS BUSINESS YOU DON’T OPERATE 529 COLLEGE SAVINGS PLAN THE NET WORTH OF YOUR INVESTMENT IS THE AMOUNT LEFT OVER AFTER DEDUCTING THE DEBT FROM THE VALUE OF THE INVESTMENT 23
7 Easy Steps to the FAFSA 24
7 Easy Steps to the FAFSA 25
7 Easy Steps to the FAFSA 26
FAFSA Tips • APPLY EARLY: MANY STATES AND COLLEGES USE THE FAFSA TO DETERMINE ELIGIBILITY FOR NON-FEDERAL STUDENT AID FUNDS THAT MAY HAVE EARLIER DEADLINES OR LIMITED FUNDING. • APPLY ONLINE • USE IRS DATA RETRIEVAL • AVOID COMMON ERRORS • LEAVING BLANK FIELDS, USING COMMAS OR DECIMAL POINTS(ALWAYS ROUND OFF TO NEAREST DOLLAR) • FAILING TO USE YOUR LEGAL NAME • ENTERING WRONG ADDRESS • ENTERING WRONG SSN 27
CA State Financial Aid: Cal Grant 28
California Dream Act: 29
CA State Financial Aid (cont): 30
California College Promise Grant (BOG) https://home.cccapply.org/money/california-college-promise-grant 31
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WE ARE SMC 33
Financial Aid at SMC •WE TAKE A STUDENT-CENTERED APPROACH TO AFFORDING COLLEGE, AND WE WILL GUIDE YOU EVERY STEP OF THE WAY. OUR LASALLIAN TRADITION INCLUDES SERVING STUDENTS OF ALL MEANS, ESPECIALLY THOSE WHO NEED ASSISTANCE, A BELIEF IN THE TRANSFORMATIVE POWER OF EDUCATION •WEB ADDRESS: HTTPS://WWW.STMARYS-CA.EDU/ADMISSIONS-AID/FINANCIAL-AID •PHONE: 925-631-4370 •EMAIL: FINAID@STMARYS-CA.EDU 34
FERPA ● Students must complete an authorization in order for any information to be released to another individual (parent, grandparent, etc.) ● The student must specify the person’s information and authorize to release any (or all) of the information such as: ■ Academic Information ■ Account Information ■ Financial Aid Information 35
Merit Aid starts at $2,500 to $25,000 starts at $2,000 to $14,000 Ranges from $2,000-2,500 follows First and Transfer Scholarships (amount ranges) 36
Financial Aid at SMC •SMC’S NET PRICE CALCULATOR -WITH FEW EASY STEPS A PROSPECTIVE STUDENT WILL GET AN ESTIMATE OF HIS/HER MERIT AID -INFO NEEDED: GPA & SAT OR ACT SCORE 37
SMC Mobile Net Price Calculator Place your screenshot here Place your screenshot here Place your screenshot here 38
QUESTIONS: 2018 – Saint Mary's College of California 39
THANK YOU! 1928 Saint Mary's Road Moraga, CA 94575 925.631.4000 925.631.4370
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