how do i qualify for federal financial aid and apply for the hope scholarship and grant ?
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How Do I Qualify for Federal Financial Aid and Apply for the HOPE Scholarship and Grant ?
By Filing
FAFSA(Free Application for Federal
Student Aid)NEVER PAY TO FILE FAFSA :
IT IS ALWAYS FREECreated By Lue Healy
Why Do I Need to file FAFSA?
• While you may get some scholarships from the college you apply to (these scholarships are very selective), or national or local scholarship programs, MOST of the financial help that MOST students receive comes as a result of filing the FAFSA application.
What is FAFSA• FAFSA is an acronym for
Free Application for Federal Student Aid
• FAFSA uses yours and your parents’ information (income, number of dependents, assets) to determine whether or not you may qualify for federal grants, loans, or work study programs to help pay for college.
What Kind of Help Could I get As a Result of Filing a FAFSA?
If you are determined to be eligible for Federal Aid by filing FAFSA, you may be eligible to receive:
• Pell Grant (from $400 to about $5,350 per year)• Work Study – job on campus through federally
funded program• Subsidized federal loans – where interest rates
are low and the loan does not accumulate interest while you are in college
New This Year :2013-14 College Year!
If you are academically eligible for the HOPE Scholarship or the HOPE Grant, the
only way you can actually receive either the HOPE Scholarship or the HOPE Grant
is to:
FILE FAFSA!
Does this mean that the HOPE Scholarship is now based on
the income of my family?• NO! Federal aid like the PELL
GRANT is based on family income but HOPE is based your academic performance. State officials are insisting on the FAFSA in order to determine “lawful presence” of students but income WILL NOT affect HOPE eligibility!
How do I file FAFSA?• You will need to file FAFSA electronically! In
years past many students filed by paper but this system does not work well. Remember to never use any site but www.fafsa.gov
• Some sites will charge you a fee but
YOU SHOULD NEVER
PAY TO FILE FAFSA. FAFSA is FREE!
First step in Filing FAFSA: Get a PIN Number
–First step in filing FAFSA: get a PIN Number. You will need a PIN number and your parent will also need a PIN number.
WHAT IS A PIN NUMBER?–Remember that a PIN number is a
Personal Identification Number. This tells the federal government that “this is me.” Go to www.pin.ed.gov to get your PIN number. If your parent already has a PIN number, they can use the same PIN for themselves that they used when a brother or sister filed. YOU need your own PIN number
I have my PIN number! What next?
• Gather your and your parents’ 2012 tax information
• Gather records of untaxed income such as veteran’s benefits
• Get a copy of the FAFSA worksheet from your counselor or advisor (we will get these in February or you can download one from the FAFSA website)
What is a FAFSA Worksheet
• The FAFSA worksheet has the same questions in the SAME format as the real questions on the online FAFSA form,.
• Think of your FAFSA worksheet like a study guide you have for a school class. Once you have filled it out, you’ll know all the answers to all the questions that you might be asked on the real FAFSA!
After I fill out the FAFSA worksheet, what do I do
• Go online to the FAFSA website ww.fafsa.gov and enter your information from the FAFSA worksheet.
• Sign with your PIN number and have your parent sign with their PIN number.
• Click the Submit button
IRS Data Retrieval Tool for FAFSA
• Helps by allowing you to pull specific tax data right from IRS.
• Electronically filed tax info will be available on the IRS site about 2 weeks after return has been filed.
• Data from paper returns will be available in 6-8 weeks.
I HAVE QUESTIONS AND NEED HELP!
• Online help – when you go to www.fafsa.ed.gov the “Help” buttons on every part of the online application will take you to more help. You can also click the “Live Help” button to chat with a customer service representative directly online between 8 AM and midnight Eastern time.
Help by phone for your questions!
• Phone Help - For toll-free help between 8 AM and midnight Eastern time call 1-800-433-3243
• This is a great way to get help because they can look at the same application online that you are looking at!
I want my questions answered in Person!
• You can see your counselor and if we do not know the answers to your questions, we can put you in touch with someone at Georgia Student Finance Commission that can help!
Do I have to Use My Parent’s Tax Information When I file FAFSA?
IT DEPENDS!(However in about 99% of the
cases, a high school student will need to report parental
income. )
IF I Put my Parents’ Income on the FAFSA form, does that mean my parents have to pay for my
college expenses?
NO!
If my parents don’t plan to pay, WHY
do I have to report their income? The federal government cannot assume responsibility for helping everyone. While your parents don’t HAVE to help you with
college expenses, the government still considers you their child and takes their income into consideration when figuring
how much help you need for college.
Many students say,
• “I do not need to report my parents’ income
because I am going to be EMANCIPATED”
WRONG!
It is quite difficult to be considered independent
for financial aid purposes even if you are emancipated!
Emancipated does not equal Independent for Financial Aid
Purposes • You CANNOT declare
yourself independent for financial aid purpose:
• FAFSA (nor a governmental agency) does not declare you independent
• EACH college will make that determination. One may declare you independent while another does not. Contact your college for info if you feel you qualify.
Answer these questions?• Were you born before Jan. 1. 1990?• Are you married?• At the beginning of the 2013-14 school year will
you be working on a master’s or doctorate? • Are you currently serving on active duty in the
U.S. Armed Forces?• Are you a veteran of the US Armed Forces? • Do you have children that receive more than half
of their support from you?
Answer these questions?• Since turning age 13, are both of your parents
deceased?• Since turning age 13, have you been in foster
care?• Do you have dependents (other than children or
your spouse) who live with you and receive more than half of their support from you?
• Since turning age 13, were you a dependent or ward of the court?
Answer these questions?• Are you currently an emancipated minor?• Are you currently or have you been in legal
guardianship ordered by court?• Have you been declared homeless or at risk of
being homeless by the local or federal government?
Independent? Did you answer “yes” to any
of these questions?If so, you are considered an
independent student! If you answered “no” to
every question, then for financial aid purposes, you must provide your parent’s information if you want to be considered for financial aid.
My parents are divorced. Whose tax returns do I use?
• You should use the parent’s tax return that you have lived with the MOST in the past twelve months!
• If you live with both parents equally, use the return of the parent who has provided the most financial support in the past year
What if my parent has remarried, do I have to report my step-parent’s
income?Yes!
While this does not mean that your step-parent has to give you any financial
assistance, his or her income gives significant
information about the family’s total financial
picture.
What if my parents are not living or I live in foster care or what if someone other than my
parents have legal custody of me?• See your counselor!• You may be able to
file independently • You may be eligible
to apply for several programs that could assist with housing and other costs for college!
What if my parents have been intentionally evading filing or paying taxes – is there any way I can file FAFSA or get Federal Aid? • Probably not.. But do
see your counselor or contact the College Financial Aid Administrator to see if there are any circumstances that can be considered in the situation – it will remain confidential
What if my parents make so little money that they are not required to
file taxes?• See your counselor or contact the FAFSA
personnel and see how to fill out the FAFSA form…this is a situation that happens quite frequently. Because everyone has to have some source of income in order to live, they will simply have to document their sources of income on the FAFSA form.
What if my parents won’t have their taxes complete until after
the priority filing deadline?• That’s OK – they can file
using last year’s tax information. Later, go back into the FAFSA site and then you can update their information once they file their taxes. This is much preferable to being late filing FAFSA! Using last year’s income almost ALWAYS causes a student to go through the Verification process.
What is a priority deadline for FAFSA? What does that mean?
• Each college has a priority deadline for filing for financial aid. If a student files by that date, he/she can be assured that his/her financial aid package will be processed before school begins. The date is different for each college so look on the college website!
What if one (or both) of my parents have lost their jobs?
You need to file FAFSA and then contact your FAA
(Financial Aid Administrator) at your college to
discuss any adjustments that might be made in your financial aid
package!
What happens after I FILE FAFSA?
• You will receive an email with your SAR (student aid report)
• You will find out your
EFC. Your
EFC is Expected Family Contribution. This number is the amount that the government uses to determine your financial aid eligibility.
My college says I have been chosen
for Verification? • About 13 % of students are
selected for verification. • Verification is done so that
the government can verify that the information you submitted on FAFSA is correct.
• Submit the tax returns and other requested information to your college financial aid office as soon as possible so that the financial aid process can proceed.
IS IT POSSIBLE TO NOT RECEIVE ANY FEDERAL
AID?• YES! The whole purpose of filing FAFSA is to see if you can qualify. Many things like income, age of parents, number of children in college, etc. effect the help you might potentially receive. If family income is too great, you will not receive federal aid. But you will NEVER KNOW unless you file.
BUT YOU CAN RECEIVE THE HOPE SCHOLARSHIP OR GRANT by Filing FAFSAEven if you do not Qualify for federal
aid! (You must still
meet academic qualifications!)
What is a financial aid package?• After you file FAFSA,
every school that you apply to will send you a financial aid package. This is a list that tells you how much money you will receive in grants, loans, scholarships, and federal work study.
I am ready to file! How soon can I file FAFSA?
• YOU CANNOT FILE FAFSA until after January 1, 2013 because you will need to use this year’s 2012 tax returns. File as soon as possible after Jan 1.
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