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After the FAFSA
ISFAA
High School Guidance Counselor Workshop
2012
Agenda Updates/Changes FAFSA Completion Tool The Student Aid Report (SAR) IRS Data Retrieval - Corrections Professional Judgment Cost Comparison Worksheet The Financial Aid Office
Updates and Changes
Reference www.studentaid.ed.gov
Eligibility of Students Without a High School Diploma – July 1, 2012
Federal Pell Grant Program – Duration of Eligibility
Direct Student Loan Changes – Interest Rates and subsidies
FAFSA Completion Tool Allows high schools to track the
students who have completed/submitted a FAFSA
Information is reported by: State FAFSA’s submitted online FAFSA’s completed (not yet submitted)
http://studentaid.ed.gov/about/data-center/student/application-volume/fafsa-completion-high-school
SAR
Student Aid Report
Paper SAR
Paper SAR Acknowledgement
Email Notification of SAR Processing
CorrectionsFamilies submit the FAFSA with estimated tax information to comply with Indiana State Deadline of March 10th.
Use the IRS Data Retrieval Tool to update the income information on the FAFSA before May 15th.
Correct information that was reported incorrectly as of the date the FAFSA was originally completed.
IRS Data Retrieval
IRS Data Retrieval
IRS Data Retrieval
IRS Data Retrieval
Professional Judgment
When is professional judgment used?
How does the process work?
Who makes determination?
Cost Comparison
Cost of Attendance
Direct Costs
Indirect Costs
Federal Shopping Sheet
Cost of Attendance Can Include:
Tuition Standard Fees Room and Board Books and Supplies Transportation Personal Expenses
Allows students to receive financial assistance for both the direct and indirect cost of attending an institution.
Direct Costs “Standard” charges for students as a whole or a
specific cohort of students (i.e. in-state vs. out-of-state, tuition by major, etc).
Charged directly to student account / documented on billing statement as charges owed to the school
Tuition, fees, on-campus room, board
Indirect Costs
Costs associated with attending the school which will vary from student to student.
May not be documented on billing statement as charge is not from school.
Books and supplies Travel costs in getting from home to school, vice
versa Personal: laundry, health, entertainment, etc
Federal Shopping Sheet• New for 2013/2014 academic year• Result of Department of Education
collaboration with students, parents, college counselors, and aid administrators.
• Schools are not mandated to use the form (at this time)
• http://collegecost.ed.gov/shopping_sheet.pdf
Building Relationships
Tools and Checklist
http://studentaid.ed.gov/prepare-for-college/checklists/12th-grade
Questions