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TRANSCRIPT
FEDERAL FINANCIAL AID
COLLEGE COSTS AND FINANCIAL NEED
Cost of Attendance• Tuition & Fees• Room & Board• Books & Supplies• Equipment & Transportation• Miscellaneous Personal Expenses• Child Care
Parent Contribution+ Student Contribution= Expected Family
Contribution (EFC)
Cost of Attendance (COA)- Expected Family Contribution
(EFC)
= Financial Need
Example: Cost of Attendance =
- Expected Family = $ 4,000Contribution
Financial Need =
$20,000
$16,000
Example: Cost of Attendance =
- Expected Family = $ 4,000Contribution
Financial Need =
$50,000
$46,000
SAMPLE AWARD LETTER
Financial Need = $16,000Scholarships $2,000Institutional Grant $2,000Federal Grants $5,000State Grants $2,000Loans $2,000
TOTAL = $13,000Unmet Need = $3,000
U P D AT E S
NEW LAYOUT
• The fafsa.gov website has an updated look with new colors and has been redesigned so that the site pages will fit the screen size and shape of any device, including desktop or laptop computers and mobile devices such as smartphones or tablets.
• The "Help and Hints" display box will be replaced by “Tool Tips" that provide information about each FAFSA question.
• While the number of questions on the FAFSA form remains the same, the questions are displayed in a more user-friendly way, with some now grouped in a different order to ease navigation through the site.
NEW APPThis initial release of myFAFSA offers the following features:
• ability to begin, complete, and submit a new FAFSA form for the 2018–19 FAFSA processing cycle
• customized experience based on whether the user is a student, parent, or preparer
• secure environment with the same data protections as fafsa.gov
In addition to the features provided by myFAFSA, the myStudentAidmobile app provides links to the following services:
• Profile: edit/manage an FSA ID• myFederalLoans: view loan and aid history• Contact Us: contact information for FSA's contact centers
STEPS INTHEPROCESS
$$$$$$$$$$
• FSA ID
• FAFSA
• Verification Process
• Working with Undocumented Students
F S A I D
OLD SITE
It’s not that easy any more
Option 1• Start by clicking “Start Here” on
the FAFSA.gov site• Select “I am a Student”• Click on “Create One”
HOW TO GET TO FSA ID SITE
Option 2
Scroll way down on the FAFSA.gov site to find Additional Resources
Option 3
Go directly to the websitehttps://fsaid.ed.gov/
HOW TO GET TO FSA ID SITE
Option 4
Download and open the appClick on I am the Student or I am the Parent and click on the Create an FSA ID account
HOW TO GET TO FSA ID SITE
An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Note: You must have an FSA ID to login to the app.
Only create an FSA ID using your own personalinformation and for your own exclusive use. You arenot authorized to create an FSA ID on behalf ofsomeone else, including a family member.
You are not allowed to have an employee or agent of a commercial entity, or other third party, create an FSA ID for you for any purposes including but not limited to: payment reductions, debt consolidation or applying for aid. Misrepresentation of your identity to the federal government could result in criminal or civil penalties.
Important: When you are done click the CANCEL button to clear your data, even if you did not finish creating your FSA ID. Just closing your browser window or going to another website may not be enough to prevent other people using this computer from seeing your information until the session expires.
Create your username and password here.
The system will tell you as you type if the username is available.
Confirm information previously typed and then
enter your address and phone numbers
A mobile phone number cannot be used with more than one FSA ID.
You do not have to list a mobile number but it does help with recovery of login information
You will be required to select and answer five challenge questions
First two, you select one of predetermined questions
For the next two, you will create your own questions
It may be helpful to have a list of sample questions to help students and parents think of these Challenge Questions
The last question asks you if your would like to provide an 8-digit code to access loan balances over the phone
Note: If a student or parent doesn’t verify their mobile phone number and/or email when setting up their FSA ID, they can do it later by returning to the FSA ID site and clicking on "Manage My FSA ID" tab on the FSA ID site.
• You may immediately use your FSA ID to sign an original(first-time) FAFSA form. You will need to wait to use yourFSA ID for any other purpose until your information ismatched with the SSA.
• If you verified your email address, you’ll receive anemail once your information is matched with the SSA(one–three days from the date you apply). Once theprocess is complete, you will be able to use your FSA ID tofully access your financial aid information.
COMMON USER ERRORS• User has been locked out of their account for providing the wrong
username/password:They can select to use either email, mobile phone or challenge questions* to unlock their account
* If they use their challenge questions, they will have to wait 30 minutes after resetting their password to use their FSA ID
FSA ID MYTHS
I need an email address or mobile phone number to create an FSA ID.
• You do NOT need an email address or mobile phone number to create an FSA ID. If you don’t have an email address or mobile phone number, you can leave those fields blank. However, adding this information is strongly recommended. Once your email address is verified, you can enter your email address instead of your username when you log in. You can also use your email address or mobile phone number to retrieve your forgotten username or password or to unlock your account. It’s easy to update and verify your email address or mobile phone number by going to fsaid.ed.gov and clicking on the “Manage My FSA ID” tab.
FSA ID MYTHSAs a parent, I can use the same email address or mobile phone number for both my FSA ID and my child’s FSA ID.
• An email address or mobile phone number cannot be used with more than one FSA ID. If you’re a student and you choose to provide an email address and/or mobile phone number when creating your FSA ID, you’ll need to include your own email address and/or mobile phone number. Your parent will need to include his or her own email address and/or mobile phone number when creating his or her FSA ID. If you don’t have an email address or mobile phone number, you can leave those fields blank.
FA F S A
FAFSA
• FREE Application for Federal Student Aid
–PLEASE STRESS to students that it is FREE–NEVER PAY money to submit the FAFSA
There are still scam sites out there that look like the real application and charge students to submit it.
WHAT STUDENTS WILL NEED
FAFSA DEMO TEST SITEhttps://fafsademo.test.ed.gov/webdemo.htm• Use the Preloaded Test Data to login with the FSA ID
Username and FSA ID Password
• Start with the FSA ID login located underNew Applications - New User (no prior data)
• Go to the bottom of the page and click on the button to login FAFSA ON THE WEB DEMO SYSTEM
FAFSA DEMO TEST SITEhttps://fafsademo.test.ed.gov/webdemo.htm
• Use the Preloaded Test Data to login with the FSA ID Username and FSA ID Password
• Start with the FSA ID login located underNew Applications - New User (no prior data)
FAFSA DEMO TEST SITEhttps://fafsademo.test.ed.gov/webdemo.htm
• Accept the Disclaimer
• Click Start 2019-2020 FAFSA
The Save Key can be very simple and should be used when multiple people (parent/student) are filling out the same application.
Remember, parents shouldn’t be logging in by using the student’s FSA ID
Once logged in, the student/parent will see this screen. It used to just be a bunch of links but can now be easily expanded with a click. It has
some good information that parents and students can peruse
The next page begins the collection of contact information. The email address should be one that they check often. If there is an issue with the application, an email will be sent to this address
The new application uses skip logic often. So if the student says they have lived in New Mexico for 5 years, it will skip the questions about state of legal residence.
More demographic information gathered on these pages.
The system asks Male or Female and wants to know gender
assigned at birth.
Providing the driver’s license here will keep them from having
to provide a copy of it later
Note that many questions will ask questions with the phrase
“as of today”
If a student puts they are female on the earlier screen, they won’t see the
Selective Service page
Males must be registered with the Selective Service to be eligible for
Federal Student Aid
If the student isn’t 18 yet, they can select yes to the second question and once they are 18 they will be
registered and their Selective Service card will be mailed to them
Another big change this year is the Help and Hints In past applications, once you click in a box it would
display the instructions on the right.
Now users have to click on the question mark next to each question to see the instructions.
If you are working with high school seniors, make sure they are selecting Never attended college/1st yr. even if they have
dual credit classes.
The application now has three options for the work-study question.
Be aware that some schools are treating
“Don’t Know” as “No” and they will not be awarded work-study
Help students remember who is Parent 1 and Parent 2 as they will need to keep them consistent throughout the
application.
You will notice the system saving the application throughout the process. It also has
multiple reminders about the terminology used to identify whose information should be
entered.
The high school selection is bringing up over 100 schools for most high school names. Make sure you student selects the correct school.
Once they select the correct high school name it will
display the same page with the information. It seems like nothing happened, but they
just need to click Next.
Listing Colleges
If students know the Federal School Codes they can select Yes and type them in.
If they don’t, they can search by state and city or school name.
Students can list up to 10 schools
If a student wants to send their information to more than 10 schools they can list 10, wait for the application to be processed, then call the Federal Student Aid program and have them delete some from the list and add more. The schools that are removed will still have access to the information.
Students can also click on View College Info and get quick statistics on each college they have selected
For every college listed, students will need to list where they plan to live (On Campus, Off Campus, With Parent).
If they aren’t sure, have them list On Campus as that is the highest budget and it is easier to reduce an award than to find more money for an offer later
Students can also change the positioning of the schools on their list.
This page has now been split into five different screens. Selecting yes on some of them will open up other questions.
For most of our students, they will answer no on all of these questions. If they answer yes, they will be considered independent and will need to provide further documentation
If you have a student who has been determined to be homeless or self-supporting, they will select yes, and answer the questions on the clarification screen. They are considered independent but need to be able to provide documentation of this designation to the college financial aid offices.
Many of our students are considered dependent and must provide parental information. If they are unable to provide this information, they will only qualify for unsubsidized loans unless there are extenuating circumstances.
WARNING: The application no longer changes color when on the Parent Information section. They have tried to change the wording to reduce confusion.
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For students whose parents are not married, they will often ask “Who’s My Parent”. Use this graphic to help them decide.
The system will populate the first two boxes on this page and add up the four boxes to get the total number of family members.
First Parent
Other Parent
It’s important to remember which parent you listed first, as future questions will refer to them as Parent 1
If parents don’t have a SSN they can enter all 0’s
Using the IRS DRT is available for most users and should be used whenever possible. This will reduce the documentation needed if they are selected for verification.
For the Demo Site we can’t use the IRS DRT so you will click “No Thanks” to move past this page.
LINKING TO THE IRS -DRT
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When they click Link to the IRS it will have them enter their FSA ID and it will look like this
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It will populate their name, partial SSN and birthdate.
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The user will fill out the address.
If the IRS system does not find a match based on the identification information and address, the user cannot use the DRT.
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If the IRS is able to verify identity and match address this screen will appear and the user can click Transfer Now to bring the information into the FAFSA
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Please note that the information transferred will not appear. Instead a statement that says “Transferred from the IRS” will appear in each field that could have been transferred in from the IRS DRT
Even if parents use the IRS DRT, if they filed Married Filing Jointly, they will need to fill out
information on how much Parent 1 and Parent 2 earned from working. They can find this
information on the W-2s
These questions may not appear for everyone. If a student or his/her parents received these benefits in the last two years, it is important to select them.
Please remember that the amount of income tax is not how much was paid or owed when filing taxes. It is important to look at the tax documents to get the correct number.
Any time the FAFSA is asking for a number from the tax form, it will tell them what line(s) to look at
Don’t forget to encourage students/parents to click on the ? for more information on each question
First of two child support questions.
This one is child support paid
This one is child support received
If parents/students ask you about what qualifies as investments, click on the ? and have them read through what should be and shouldn’t be included.
Now we are back to Student Information
Students will answer the same questions as they saw in the parent section
The next screen asks if you are a preparer. The answer will be no.
The page before the signature page allows students and parents to review all the information to make sure it is correct.
Finally, they need to sign the FAFSA. This is done by using the FSA IDs. Both the student and one parent need to sign with their FSA IDs.
When providing the Parent signature, they will need to select which parent is signing.
SAMPLECONFIRMATION PAGEIf you have more than one student who will be in college next year, you can click on the link at the bottom of the confirmation page “Does your brother or sister need to complete a FAFSA?”. This will transfer all of the parent’s financial information into another FAFSA.
F E D E R A L S T U D E N T A I D A P P
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All users trying to use the
app must have an FSA ID
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StudentInformation
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School Selection
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FAFSA® Parent Role
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FAFSASummary
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W H AT H A P P E N S N E X T ?
• Students will get their Student Aid Report (SAR) within three days (if they signed the FAFSA online) or three weeks (if they mailed a signature page.)
• It’s important that they make sure that everything on the FAFSA is correct and complete and make necessary corrections quickly
• The information will then be sent to the schools the student listed on the application
• Schools have different dates that they will begin processing
• Students need to watch their emails and school portals to see if any additional information is needed
BEING SELECTED FOR VERIFICATION• Can be a very frustrating process
• Students can get stuck here and not even know it
• Being selected or pulled for verification means the student is required to supply additional documentation to the school before they can process an award letter for the student
• Documentation can include
– IRS Tax Transcripts
– Copies of W-2s
– Dependent Verification Worksheet
• It is important for us to let students know about this process so they can act quickly once notified to still meet deadlines
• They must supply each college listed on their FAFSA with the necessary documentation
• Students should check their student portal often to see if any additional information is required.
• This is an example of a UNM student who was selected for verification
TAX TRANSCRIPTS• Students who are selected for verification
will be asked to provide an IRS Tax Transcript for their parents and themselves if they filed taxes
• In the past the student had to get a statement of non-filing if they didn’t file taxes but that is no longer required
• If they did file taxes, getting a tax transcript online can be difficult
• They need to have some sort of credit history to match to verify their identity. If they can’t do this, then they need to fill out the paper request form and mail it in
• If they live at a different address from what was listed on their taxes they will also have trouble
MAIL IN REQUEST FOR TAX TRANSCRIPT IRS FORM 4506T
https://www.irs.gov/pub/irs-pdf/f4506t.pdf
R E S O U R C E S
HOW TO GET TO FEDERAL STUDENT AID HELP PAGE
On any screen of the FAFSA, you can click on the Help tab at the top to get to the Federal Student Aid help page
Once here, click on Contact Us and it will bring up a link to click on to go to the Federal Student Aid Information Center
On the right you can email, chat or call for help. If you click on Chat with Us you will be able to type in the question, they will answer you live, and you can ask follow up questions. Then when you are done, you can print out a copy of the conversation
DEPT. OF EDUCATION FAFSA TRAININGOn September 7th the Department of Education conducted a FAFSA Training for New Mexico. You can find a recording of the training at:
http://fsaregistration.ed.gov/d/qgqmkt
FINANCIAL AID TOOLKITThe Financial Aid Toolkit, at FinancialAidToolkit.ed.gov, is a site specifically designed for you, the school counselor or college access mentor. The toolkit consolidates FSA resources into a searchable online database intended for use by organizations and individuals who interact with, support, or counsel students and families on making financial preparations for postsecondary education.
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PARTNER EMAILSWe consider school counselors, college access organization staff, and other mentors to be our partners in educating students about applying for and receiving federal student aid to help make their college dreams a reality. Several times a year, we email our partners with updates about our products and services, reminders about upcoming professional development opportunities, tips for outreach to students, and more. Sign up to receive our partner emails.
Note: The emails we send are intended to keep counselors and mentors up to date; they do not contain information for students or parents. Please send students and parents to StudentAid.gov for information about federal student aid.
sample
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FAFSA COMPLETION BY HIGH SCHOOL
https://studentaid.ed.gov/sa/about/data-center/student/application-volume/fafsa-completion-high-school
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A copy of this presentation will be posted on the nmknowledge4college.org website!