Orchard Park HS Financial Aid Presentation
Daniel M. TramutaAssociate Vice President for Enrollment ServicesNew York State Financial Aid Administrators Association (NYSFAAA) - Past President
SUNY [email protected]
Sources of Financial Assistance
How & When to Apply?
• Apply for Admission (Fall of Senior Year)• Collect documents• Request a federal PIN at www.pin.ed.gov• Complete the CSS Profile (available as early as mid-
October)• Fill out the 2014-15 FAFSA on the Web Worksheet (Do
Not Mail this Worksheet) (Dec.)• Complete FAFSA online at www.fafsa.ed.gov in
January 2014 (Estimate the income information). Required for Say Yes Scholarship eligibility
• Print the confirmation page• Use the corresponding state scholarship link to apply
for TAP • Keep records
Complete the 2014-15 ‘FAFSA on the Web’ Worksheet
Collect Information
Student’s and parent’s SSN and DOB Parent’s marital status Tax returns for student and parents W-2’s for student and parents Records of untaxed income for student and parents bank, stock, real estate, and business records for student and parents Student’s driver’s license number Student’s alien registration number (for non U.S citizens) PINs for student and one parent
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• Student & Parent can select the same PIN
• Get a PIN now!! Every student and parent needs one.• The PIN replaces the need for having to mail in a signature page.
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• The on-line FAFSA allows students to list up to 10 colleges.
• The paper FAFSA allows only 4 colleges to be listed.
• File the FAFSA as soon as possible after January 1st of each school year.
SAY Yes Buffalo: Scholarships & Grants
•SAY YES Tuition Scholarship at SUNY funds covers tuition costs that remain after NYS TAP, federal Pell awards, and institutional awards are factored in. Tuition scholarships at SUNY schools are awarded to eligible students regardless of family income.
•SAY Yes Opportunity Grants at SUNY – for students living on- campus and who receive the maximum federal Pell Grant, SAY Yes may provide and additional grant of up to $2,000 annually that can be used towards non-tuition related expenses (madatory fees, room, food, & books)
Collect Information
Student’s and parent’s SSN and DOB Parent’s marital status Tax returns for student and parents W-2’s for student and parents Records of untaxed income for student and parents bank, stock, real estate, and business records for student and parents Student’s driver’s license number Student’s alien registration number (for non U.S citizens) PINs for student and one parent
CSS Profile
Important Steps for Filing the FAFSAStep One: Student Demographics
Name, social security number, birth date Provide an email address Indicate gender Males have the opportunity to enroll in
Selective Service For more information go to: www.ss.gov
Step Two: School Selection Enter FAFSA codes – up to 10 colleges
Important Steps for Filing the FAFSAStep Three: Parent Demographics
Name, social security numbers, birth dates Marital status If your parent does not have an SSN, enter 0’s or 9’s
Step Four: Financial Information If you have not filed your 2013 federal tax rturn, select
“will file” Use 2013 Estimated Income first, then follow up with
IRS Data Retrieval process embedded within FAFSA
IRS Data Retrieval Process
• All FAFSA on the Web applicants and the parents of dependent applicants, who indicate that they have filed their federal tax returns prior to completing their FASFA, will be directed to use the FASFA-IRS Data-Retrieval process to complete their FASFA more easily and accurately.
• Applicants who choose not to use the FAFSA-IRS Data Retrieval process will be informed that they need to explain to their institutions why information they provided is more accurate than info that would have been obtained directly from the IRS.
• A tax transcript would then need to be requested from the IRS and sent to the school along with any other requested documentation – this will cause aid processing delays!!
IRS Data Retrieval
IRS Data Share Process
IRS Data Share Process
• Enter your filing status and address information exactly as it appears on your tax return and press "submit."
• Information needs to match your 1040 precisely! For example, if on the address line of your 1040 you used “St.,” but you typed the word “Street” into this website, the IRS DRT will not locate your return.
IRS Data Retrieval/Share
IRS Data Share
Entering Info from W-2/Final Check Stub on FAFSA
FAFSA Confirmation Page
Apply for TAP from the FAFSA confirmation page
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• After 2014-15 FAFSA is submitted on-line, establish your TAP PIN. You may choose to use the same number as your federal PIN. If you miss the TAP link from the FAFSA, go to www.tapweb.org 24-48 hours after completing the FAFSA.• Please be aware that the first school code listed on the FAFSA is automatically populated on the TAP application.
• FREE help is available• Make sure you are not paying
for free information• Know what you are getting for your money• Need more information: 1-800-4FEDAID
Should I pay someone to help me find or apply for student financial aid?
Financial Aid Award Letter
SMART TRACK Award Letter
William D. Ford Direct Loans• Subsidized Stafford Loan 3.86% , capped at 8.25% Based on need Federal government pays interest while student is in school $3,500 for freshmen
• Unsubsidized Stafford Loan 3.86% ,capped at 8.25% Not based on need Student is responsible for interest while in school Loan cannot exceed cost of education minus financial aid $5,500 for freshmen
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Smart Track Award Letter
Alternative Financing Options
• Options to Replace FAFSA Calculated EFC
-Institutional/Private Payment Plan offered by the college-Federal Parent loan-Private 3rd Party Alternative Loans-Military/National Service Benefits
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FASTWEB.COM
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• That was easy–you didn't even have to search! •
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•Gen and Kelly Tanabe Scholarship (Amount: $1000)
Log in to see the rest of your personalized scholarship matches:
What do I do now?
You're never going to win scholarships if you don't apply. Simply choose one of the scholarships on your matches list, read through the detailed info and click on the scholarship provider's website to find out how to apply.
Why was I matched to these scholarships?
We matched you to these scholarships because of the info you have in your profile. If these scholarships aren't what you had in mind, you have the power to make them better. Update your profile by filling out as much as possible and keep your info current. That way, we'll find better, more personalized scholarship matches for you.
Appeals Based on Unusual Circumstances
• Loss of Income in 2013 vs. 2014• Medical/Dental expenses NOT PAID by
insurance• Death, separation, divorce......• 1-Time Fluctuation in Income• Elementary/Secondary Private School
Tuition Expenses• Follow the procedures of the Financial
Aid Office where student is attending.
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SUNY Statewide Student Financial Aid Days
January 25, 2014&
February 22, 2014 Ask questions about the financial aid application, types of aid and the award process Some campuses will offer web access to complete FAFSA
online Register at www.suny.edu/student in early December
Questions?
