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Senior College Night #2

Introduction to the Financial Aid ProcessDecember 10th

3+Agenda

Welcome and Purpose Washington’s Core Beliefs About College College Application Data

Breakout Sessions Debunking Myths on Financial Aid The Financial Aid Process What now?

6:00 – 6:30

6:30 – 8:00

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+Washington’s Core Beliefs About College

5+Washington’s Core Beliefs About College

Belief #1: College is valuable.

Belief #2: Where you go matters.

Belief #3: You cannot afford not to go.

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Where are we now?Senior Application Data and Milestones

7+Postsecondary Milestones

8+Senior Application Data

313 Students have applied to at least (1) post-secondary institution

219 Students have applied to 3 or more post-secondary institutions.

9+Top colleges applied to

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Break Out Sessions

Guests will be dismissed by numbers on folders.Break-Out Sessions

Number 1:Library

Number 2:Room 105

Number 3:Room 106

Number 4:Room 111

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Breakout SessionsIntro to the Financial Aid Process

13+Objectives

Explain how the financial aid process works

Describe the key factors that influence college choice in terms of financial aid.

Identify what your child should be doing right now and how you can support them

14+Turn and Talk

Discuss the answers you’ve circled and why you chose it with your elbow partner.

Myth Busters

16+Mythbusters

1. If the parent makes too much money the student is not eligible for aid

2. My ethnicity or age makes me ineligible to receive aid.

3. It cost money to fill out the FAFSA

4. I have to file taxes before completing the FAFSA

5. Approximately, how long does it take to fill out the FAFSA?

6. I only need to fill out the FAFSA once.

7. Only students with good grades can receive financial aid.

8. What are the possible sources of financial aid?

Answers…

All of the above

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The Financial Aid ProcessWhat is financial aid?

Financial aid refers to specific borrowed, given, or earned money that can be obtained from various sources to help pay for college.

What is financial aid?

If you think you can’t afford college, think again. There’s lots of aid out there.

Financial aid comes from a variety of sources.Sources of Financial Aid

college(institutional aid)

outside/privatesources

federalgovernment

state government

How much is this going to cost me again?

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How to fill out a FAFSAFree Application for Federal Student Aid

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F A F S A • January 1 (First date to submit FAFSA), and as

close to this date as possible• Must be renewed every year

WHEN

• Available to H.S. seniors and college students• U.S. Citizens and eligible non-citizens WHO

• Available on-line (preferred way) www.fafsa.gov

• Printed and pdf formHOW

• Determines eligibility for Federal and State Financial Aid Programs

• Used by colleges and universities to award institutional aid

WHY

oSocial Security Number. Be sure that it is correct!

oRecords of income, such as income earned from work and business, child support paid or received, and any other untaxed income. If available, refer to the W-2 Forms and the Federal Income Tax Return IRS 1040, 1040A, or 1040EZ.

o Information about assets, such as savings, certificates of deposit, stock options, bonds, 529 plans and other college savings programs, and investment real estate, business, and farm.

oDriver’s license number, if the student has one.

oAlien Registration Number, if not a U.S. citizen.

What information is needed?Completing the FAFSA

NOTES:

• Parental information is required unless a student is at least 24 years of age or meets the criteria for filing as an independent student as described on the Free Application for Federal Student Aid. Refer to www.FAFSA.gov.

• A student must report his or her income and assets and those of the parents (if a dependent student) or spouse (if married).

• Use income records for the year prior to the academic year for which a student is applying: for instance, if filling the 2012-2013 FAFSA, refer to 2011 tax information.

24+Filling out the FAFSAGo to the FAFSA website- www.FAFSA.ed.gov

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27+Important notes about the FAFSA

If you use your 2013 Tax Returns to fill out the FAFSA, you will NEED to update it with your 2014 Tax Returns. Using 2013 Tax information is saving your spot in line and is

insuring you receive the most aid possible.

Please make sure you put all the schools that you’ve applied to. Each school needs your financial information directly from

the FAFSA. If the student is a DREAMER, you can fill out a paper FAFSA

but do not file, give this paper copy to the Financial Aid office at your college directly.

Next steps…

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• Cost of Attendance

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• Gift Aid3

• Self-Help Aid4

• Additional Options5

• Credit Hours & Terms

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What now? A Look into an Award Letter

29+Dreamers and Financial Aid Dreamers are students who do not have an eligible

social security number (SSN)

Students who received a SSN through the DACA (Deferred Action for Childhood Arrivals) initiative are NOT eligible to apply for the FAFSA.

May not have access to federal or state financial aid

Dreamers should advocate for themselves and talk to various colleges they’ve applied to about options for aid.

Should fill out a paper copy of a FAFSA. Many scholarships and schools may be able to use this information. Do not file the paper copy to the FAFSA!

30+Dreamers and Financial Aid College Credit in HS

IB AP Dual Enrollment through the City Colleges of Chicago

Working through the DACA initiative

Using the City Colleges as a starting point The Chicago Star Scholarship

Scholarships Dr. Juan Andrade Scholarship Illinois Dream Fund CPS Dream Fund Scholarship

31+Dreamers and Financial Aid

IACAC website Admissions Policies, Financial Aid, and Scholarships College Advising Guide for Undocumented Students This website can be found on the GW website under

students and path to college (links)

What should I do?

32+Special SituationsHow to file the FAFSA…

What if my parents are divorced? Use the tax info of the parent who provides the most financial support. If you’re parent is remarried, you must still use your stepdad/stepmom’s info.

What if my parents do not have an eligible SSN? In the parent section, put 000-00-0000 in the section where it asks for a SSN and

use any tax information you might have.

What if my parents are unemployed or disabled? If your parent is receiving unemployment or disability checks, this still counts as

income and must be reported on the FAFSA. If they are not receiving any type of income, you can put 0’s for the income part

of the parent section.

What if I don’t live with my parents? Unless you can prove that the person your living with is your legal guardian than

you will still need to provide parent information.

What if I have a child? If you can prove that you provide 50% or more of support to your child, then you

can file as an independent student using your information.

33+Scholarships

Much like colleges, each scholarship has its own eligibility criteria. RESEARCH!

CPS Strategic Scholarships Targeted for CPS, Chicago, and Illinois students Can be found on the GW website.

Look on the colleges’ website

A list of helpful websites can be found in your folder.

Dr. Juan Andrade Scholarship Due December 31st

Where can I find them?

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What now?A guide for parents

36+What parents should be doing right now

Gather your 2013 tax info and utilize the folder provided

Encourage your student to apply for more colleges and file the FAFSA early

Set aside time to help with the application and financial aid process

Visit a college campus with your child

Attend GW’s college nights and workshops

Utilize Naviance and the Passport to check on progress

37+Graduation Requirements 24 credits with CPS required courses

40 Service Learning Hours

Consumer Education Test

Constitution Test

PSAE

Drivers Education

Please note that students will not be able to participate in the graduation ceremony if they have not met all the graduation requirements.

38+Senior Passport

The passport is a tool students and staff utilize to track progress on post-secondary milestones.

Passport check days December 17th

3 Applications, 2 Results, and 1 Scholarship

This will be tied to major senior events Decision Day Prom Senior Luncheon

Student’s Ticket to Decision Day

39+Save the Date!

January 10th: FAFSA Workshop; 9a.m.-12 p.m. This date has changed from original!

April 23: Senior College Night #3- Award Letters

April 27th-28th: College Café

May 1st: Decision Day

May 22nd: Prom

June 12th: Graduation

40+FAFSA Workshop

January 10th, 9a.m.-12p.m.

oSocial Security Number. Be sure that it is correct!

oRecords of income, 2013 Tax Returns, such as income earned from work and business, child support paid or received, and any other untaxed income. If available, refer to the W-2 Forms and the Federal Income Tax Return IRS 1040, 1040A, or 1040EZ.

o Information about assets, such as savings, certificates of deposit, stock options, bonds, 529 plans and other college savings programs, and investment real estate, business, and farm.

oDriver’s license number, if the student has one.

oAlien Registration Number, if not a U.S. citizen.

What to bring…

41+Important Reminders

1. Deadline for service learning hours, payment of all fees, passport: May 1st

2. Money for State of Illinois Map Grant money is expected to run out by February 13th, please have the FAFSA completed before this time.

3. Each student will receive 10 tickets total for graduation (no exceptions) but need to make sure all fees and eligibility is met to receive tickets.

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Questions?

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Thank you!