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FAFSA Presentation

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by

Linwaun Fulton

on 3 February 2015

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Transcript of FAFSA Presentation

FAFSA
F
ree

A
pplication for

F
ederal
S
tudent

A
id
Why do I need to fill this out?
This is the only form that can get you financial aid from your college
This one form can go to all colleges you are applying to (both 2 and 4 year institutions).
This one form lets you qualify for grants, scholarships, and loans.
So how do I fill it out?
Go to fafsa.ed.gov
Important (NOT fafsa.com)
What will I need to fill it out?
First is a PIN number for you and your guardian.
All you need is your Social Security # and your address.
Go to pin.ed.gov
Then you will need the following documents:

1. Social Security Number
2. Drivers License (if you have one)
3. 2014, W-2 form
4. Student and Parent’s 2014 Federal Income Tax Return (could be any of the following 1040, 1040A, 1040EZ)
5. 2014 untaxed income record (to include veterans benefits, child support received, workers compensation payments)
6. Current bank statements
7. Current business, investment, farm, mortgage, stock, land, or other investment records
8. Alien registration or permanent resident card (if not a US Citizen)
Now WHO is going on this form?
You and whoever you live with 51% of the time.
Example:

If you live with your mother and step-father you put both of their information on your form.

If anyone has a job you must put that information on the FAFSA. Questions?!
What types of $$ is available?
Grants: Free Money given to families based on income levels.

Work-Study: A JOB on campus that the salary goes back to the school

Student Loans: Loans with no interest while you are in school and you only start paying them back 6 months after you graduate.

Stafford Plus Loans: A loan for your parents with very low to zero interest rates that must be paid back.
When is it due?
Almost every 4-year university requires the FAFSA by March 1, 2015.
Wake Tech requires the FAFSA by May 1, 2015 and you should ask other schools if they have a different deadline.
Once submitted what do I do?
Look for two important pieces of information:
1. Student Aid Report = the types of aid the federal government expects you will recieve from each college.
2. Your Estimated Family Contribution (EFC) = the amount of money the federal government believes your family can afford. NOT the actual amount you will have to pay.
And then you......wait
The online form will be sent to all of your colleges you entered and you will get a Financial Aid Package from each college in the mail
What can I use this $$ for?

Tuition & Fees
Room & Board
Books & Supplies
Personal Expenses
Travel
Soooo to figure out how much financial aid a school should give you:

Cost of Attendence of School - (minus) Estimated Family Contribution =
The amount of aid you are eligible for and what you should be offered in your financial aid package.
Questions, Comments, Concerns?

Schedule an appointment with a counselor in Student Services during or afterschool to meet with your guardian and yourself for help.
http://vmccastudentservices.weebly.com/contact.html
lfulton@wcpss.net
Full transcript