Miami Dade CollegeFinancial Aid 2015-16

to assist students in paying forto assist students in paying forcollege. It is a source of monetary college. It is a source of monetary support that comes in the form of:support that comes in the form of:

•• ScholarshipsScholarships

•• GrantsGrants

•• LoansLoans

•• Employment opportunitiesEmployment opportunities

PRIMARY SOURCES OF AIDPRIMARY SOURCES OF AID

•• FEDERALFEDERAL

•• STATESTATE

•• INSTITUTIONALINSTITUTIONAL

• • PRIVATEPRIVATE

HOW TO APPLY

•• Complete the free application for Federal Student Aid (FAFSA) as Complete the free application for Federal Student Aid (FAFSA) as early as possible (application is available as of January 1early as possible (application is available as of January 1stst of every of every year)year)

•• Options:Options:• File electronically at File electronically at www.fafsa.ed.gov

• Apply for your pin at Apply for your pin at www.pin.ed.gov

• Complete paper applicationComplete paper application

• Submit a FAFSA even if you do not think you qualify Submit a FAFSA even if you do not think you qualify for aid for aid

Use IRS Data Retrieval Tool

•• Valid Social Security NumberValid Social Security Number

•• Prior year Income Tax documentsPrior year Income Tax documents

•• You can file the FAFSA with estimated income You can file the FAFSA with estimated income information if you do not have your taxes completed. After you and/ information if you do not have your taxes completed. After you and/ or your parents file your taxes, it is recommended that you update or your parents file your taxes, it is recommended that you update your FAFSA with the actual tax information using the IRS data your FAFSA with the actual tax information using the IRS data retrieval process.retrieval process.

•• PIN number to complete electronic submissionPIN number to complete electronic submission

APPLICATION REQUIREMENTS

General Student Eligibility Criteria Must be enrolled or accepted for enrollment in eligible program of

study (full time enrollment not required)

Must be pursuing degree, certificate, or other recognized credential

Must be U.S. citizen or eligible noncitizen

Must be registered with Selective Service (if male and required)

May not be in default on a federal student loan

Must not owe an overpayment of federal grant or loan funds

Must be making satisfactory academic progress (as defined by school)

May not have eligibility suspended or terminated due to being convicted of a drug-related offense

Must show proof of standard high school diploma

RESPONSERESPONSE

• • The student will receive via e-mail a The student will receive via e-mail a Student Aid Report (SAR) which is a Student Aid Report (SAR) which is a summary of all the information you summary of all the information you submittedsubmitted

•• Review the SAR and make Review the SAR and make corrections and resubmit if corrections and resubmit if necessarynecessary

•• No need to submit the SAR to the No need to submit the SAR to the Financial Aid OfficeFinancial Aid Office

•• The electronic application The electronic application takes approximately 1-2 takes approximately 1-2 weeks to process weeks to process

• • The results from FAFSA will be The results from FAFSA will be sent to the student and the sent to the student and the college/colleges the student college/colleges the student selectedselected

• • The college will send follow up The college will send follow up correspondence on the status ofcorrespondence on the status of the file

TIMELINESTIMELINES

VERIFICATIONVERIFICATION

• • Confirms accuracy of information reported on FAFSA by students Confirms accuracy of information reported on FAFSA by students and parentsand parents

• • Application selected for verification by CPS or by schoolApplication selected for verification by CPS or by school

• • Common documents requested:Common documents requested:• IRS Tax Return TranscriptIRS Tax Return Transcript

• Verification worksheetVerification worksheet

• 1040s no longer accepted1040s no longer accepted

Changes to 2014-15 FAFSA The 14-15 FAFSA will include 2 new tax return filing status questions for

students and parents in regards to marital status inconsistencies reported with the IRS, that are meant to help secure the accuracy of the application’s EFC calculation

The FAFSA will collect information from both of the dependent student’s legal (biological and or adoptive) parents if the parents live together, regardless of the marital status or gender of the parents.

Consistent with the Supreme Court’s decision on the Defense of marriage act, the 2014-15 FAFSA will include guidance that marriage includes both legal marriages of persons of the opposite sex and legal marriages of persons of the same sex in jurisdictions where it is allowed. Without regard to where the couple resides.

 

THANK YOU!THANK YOU!