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High School Financial Aid Presentation

Indian River State College Financial Aid 2015-16
by

Trisha Maitland

on 14 October 2016

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Transcript of High School Financial Aid Presentation

Navigating The Road To Financial Aid
Indian River State College
Welcome
!

Presenters:
Mary Lewis Director of Financial Aid
Christine Denaro Financial Aid Advisor
Amanda Green Financial Aid Advisor
Jodi Lee Financial Aid Advisor
Sasha Ramirez-Acosta Financial Aid Advisor
Trisha Maitland Financial Aid Advisor
Edith Marcelle Financial Aid Advisor
Carolyn Street Financial Aid Advisor
Sally Bunce Financial Aid Assistant
Eric Patterson Financial Aid Assistant
What is Financial Aid
?

How To Receive Aid
?!
Types of Aid!
Start With:
FAFSA
!
Complete your
FAFSA
as early as possible!
Always, Always...One more time.. ALWAYS Apply!

Your tax return
Parents tax return (If required)
W-2’s from all of your Jobs
Parent’s W-2’s (If required)
IRSC School Code (001493)

The IRS Data Retrieval Tool allows students and parents to access the IRS tax return information needed to complete the FAFSA, and transfer their income data directly from the IRS Web site.

WHY USE THE RETRIEVAL TOOL?
It’s the easiest way to provide your tax data
It’s the best way to ensure information is accurate
YOU WON’T NEED TO PROVIDE COPIES OF YOUR TAX RETURNS NOR YOUR PARENTS’ TAX RETURNS OR W-2’S TO YOUR COLLEGE (as long as information is not changed).

Verify What?!
Verification
For example, if the student and/or parents are married but have each filed as “head of household” or “single”, then the taxes must be amended or a statement must be provided from the IRS with an explanation of why the taxes are able to be filed in that manner. Once the information is updated only then can the documents be processed by the financial aid office.
Federal guidelines state that, if you are selected for verification and the tax filing status of the student and/or parents is inconsistent with the marital status reported on the FAFSA, that will represent conflicting information that must be resolved before aid can be disbursed.
It's crucial that you provide verification
documents as quickly as possible to ensure timely processing of your financial aid.
W-2
Parent's W-2
Verification Worksheet
Tax Return Transcripts
Etc.
Your Financial Aid Awards are
On Hold until you complete
the verification process!
IRSC 411
Make sure your name and social security number matches what’s on your social security card.

Double check that your date of birth is correct.

If you are an eligible non-citizen, make sure your alien registration number is correct.

Parent’s names and social security numbers must also be accurate.

Complete asset information (
even if the answer is 0
)

So I've Applied, Now What?
Monitor your Rivermail Account!!
The primary way the Financial Aid Office will communicate with you is through your Rivermail.

Understanding The Financial Aid Process
Take Notes!
Ask Questions!
Apply for aid early!
Read all paperwork from the financial aid office to maintain your eligibility.

Keep a folder with all financial aid related documents for easy access.
Keeping your Aid!!!
This may be the most important thing you see today!
In order to keep your aid, you MUST make Satisfactory Academic Progress (SAP).
SAP Rules (Summary):
You must keep a cumulative GPA of 2.0 or better.

You must earn at least 67% of your attempted hours.

You cannot attempt more than 150% of the credits required for your degree program.


Dual enrollment courses are college credit and count towards
SAP progress.
Students must attend 60% of the term at IRSC.

If a total withdrawal of classes is done prior to that, the student must repay funds


IRSC offers more than 150 programs, including:
Bachelor’s degrees
Associate in Arts degrees (university transfer)
Associate in Science degrees (career training)
Career Training Certificate Programs

Tuition is currently $103.83 per associate level college credit and $117.10 per baccalaureate level college credit based on Florida residency.
KEY POINTS TO REMEMBER
Pell Grant $5815
Florida Student Assistant Grant $2000
First Generation Matching Grant $2200
TEACH Grant
FSEOG
Institutional Grants
Direct Subsidized Loans
are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education. The U.S. Department of Education pays the interest on a Direct Subsidized Loan:



While you’re in school at least half-time,
○ For the first six months after you leave school (referred to as a grace period*)
During a period of deferment (a postponement of loan payments).

Direct Unsubsidized Loans
are loans made to eligible undergraduate, graduate, and professional students. You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. .


What does that mean?
Questions??
November 14-17, 2016
IRSC CAMPUSES

IRS RETRIEVAL TOOL
The FAFSA processing center determines who is selected for verification. It is required by the federal government and is intended to improve the accuracy of the information you provided when applying. Selection may be random or because your FAFSA data was incomplete, estimated or inconsistent.

Let's take a look at the
IRSC offers quality Education at a great value...
ATHLETICS
Tuition and fees at IRSC are 40 to 50% less than Florida State Universities
and 80 to 90% less than private career institutes and colleges

75% of IRSC students receive financial aid.



To complete the FAFSA application, you will need your:

Reasons that Data Cannot be Transferred Via IRS Link
Students or parents are married but filed as “Married Filing Separately”.

Students or parents are married and filed as Head of Household

You filed an amended tax return, or filed a Puerto Rican or foreign tax return

You filed your return electronically within the last 2-3 weeks or through the mail within the last 8-11 weeks.
In this case, we suggest you save your FAFSA and go back to use the retrieval tool at a later date (if you’re not filing your FAFSA late)

If you answer “none of the above” on the FAFSA, you will be given the option to Link To IRS.

DEPENDENT VS. INDEPENDENT STUDENTS
TYPES OF AID!
Students must be enrolled in classes that count towards their
selected degree program for all Federal programs.

Awards will be reduced and/or deleted , after the add/drop period is over,
if classes are outside of the students indicated program.

AS of 2012-13

Students will only be able to receive the Pell Grant for
12 full-time semesters.
Jobs located on campus for IRSC
Salary ranges from minimum wage and up
Apply early to be considered
Find out the specifics at the school you will be attending
An award does not guarantee a job (at IRSC)

If you start a two year program and use loans for half of it, but change to a different program, you only have one year of loan eligibility left.

Your loan eligibility increases if your program length increases – for example, going from a two year program to a 4 year program.

NOTE: Before making program changes, check with your financial aid office to see how your eligibility will be effected (if you are receiving loans).

150% of Program for subsidized loans means…..
Federal Student Loans
Low Interest.

Based on eligibility not credit.

Awards can range from $1000 to $7500 depending on student status (freshman, sophomore, etc…) and dependency (dependent or independent student).

Funding Education Beyond High School

www.studentaid.ed.gov/guide

Provides comprehensive detail about the Federal student aid programs

www.studentaid.ed.gov/collprep

Explains how to prepare academically and financially for college

RESOURCES
Average Cost of Tuition at IRSC is
$2,492
per year compared to
$5,000
and up at other Florida State Universities.
Lower Tuition =Cost Savings!
WWW.FAFSA.ED.GOV

WWW.IRSC.EDU
Only 13% take student loans.
Full transcript