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The Free Application for Federal Student Aid (FAFSA). Texas Association of College Admissions Counselors (TACAC) September 24, 2010 Lyn Wheeler Kinyon Assistant Director, Grants and Special Programs Texas Higher Education Coordinating Board [email protected] Reason for the FAFSA.

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The free application for federal student aid fafsa

The Free Application for Federal Student Aid (FAFSA)

Texas Association of College Admissions Counselors (TACAC)

September 24, 2010

Lyn Wheeler Kinyon

Assistant Director, Grants and Special Programs

Texas Higher Education Coordinating Board

[email protected]


Reason for the fafsa
Reason for the FAFSA

  • The family has the primary responsibility and is the primary resource to pay for educational costs.

  • If the family resources are not enough to pay for the education, financial aid is available to supplement the family resources.

  • FAFSA is the tool used to determine the Expected Family Contribution (EFC), the family’s calculated ability to contribute to the educational costs of the student.


Free application for federal student aid fafsa
Free Application for Federal Student Aid (FAFSA)

  • Generic

  • Electronic (paper available)

  • Collects information to be used in the EFC calculation:

    • Dependency Status

    • Family Size

    • Number in College

    • Prior Year Income

    • Current Assets

    • Other Information

      • Colleges

      • Expected Living Arrangement

      • Statement of Educational Purpose


Fafsa on the web www fafsa ed gov
FAFSA on the Web www.fafsa.ed.gov

  • Apply for PIN

  • FAFSA On The Web Worksheet

  • Apply and Reapply

  • Check status of FAFSA

  • View SAR information

  • Make corrections

  • E-mail correspondence

  • Include School Codes


Personal identification number pin www pin ed gov
Personal Identification Number (PIN)www.pin.ed.gov

  • Sign FAFSA electronically

  • Applicant PIN

  • Parent PIN

  • Sign loan promissory

    note electronically

  • PIN does not expire


Student aid report sar
Student Aid Report (SAR)

  • SAR or ISIR

  • Expected Family

    Contribution (EFC)

  • Important information and instructions

  • Applicant reported

    information

  • Review and correct if necessary


Texas application for state financial aid tasfa
Texas Application for State Financial Aid (TASFA)

  • The TASFA is available for students in Texas who cannot complete the FAFSA due to citizenship and SS# issues.

  • Not all schools accept the TASFA.

  • http://www.collegeforalltexans.com/index.cfm?objectid=D465D848-EA0F-C0EA-5209BC8C89262877


Fafsa4caster www fafsa4caster ed gov
FAFSA4caster www.fafsa4caster.ed.gov

  • Early Estimate

  • Transfer DATA to

    FAFSA on the Web

  • Links to PIN Site

  • Tips for Preparing

    for College and the

    Financial Aid Process



Financial aid from the college perspective

Financial Aid from the College Perspective

Texas Association of College Admissions Counselors (TACAC)

September 24, 2010

Lyn Wheeler Kinyon

Assistant Director, Grants and Special Programs

Texas Higher Education Coordinating Board

[email protected]


Types and sources of financial aid
Types and Sources of Financial Aid

  • Types of Aid

    • Scholarships

    • Grants

    • Loans

    • Work

  • Gift Aid

    • Scholarships

    • Grants

  • Need-Based Aid

  • Sources of Aid

    • Federal Government

    • State Government

    • Institution

    • Private

  • Self-Help Aid

    • Loans

    • Work

  • Non-Need-Based Aid


Applying for financial aid
Applying for Financial Aid

  • Apply for admission to the institution(s).

  • Request institutional financial aid information.

  • Request institutional scholarship information.

  • Complete all forms required by the institution and/or the scholarship program.

    • Complete the Free Application for Federal Student Aid (FAFSA) or TASFA as early in the spring as possible prior to the academic year of anticipated enrollment.

  • Pay attention to the institution’s established deadlines.

  • Respond to all requests from the FAO in a timely manner.


Determining eligibility and packaging aid
Determining Eligibility and Packaging Aid

  • The financial aid office:

    • draws down FAFSA information from the CPS;

    • confirms basic eligibility requirements are met;

    • checks satisfactory academic progress;

    • performs verification if required; and

    • calculates the student’s need.

  • An aid package is created taking into consideration:

    • student’s information;

    • program specific requirements;

    • availability of aid programs; and

    • institution’s packaging philosophy.

  • An award notification is sent to the student.

  • Aid is disbursed to the enrolled student.


Need calculation
Need Calculation

Cost of Attendance (COA)

(includes allowances for tuition, fees, books, supplies, room, board, transportation and personal/miscellaneous expenses)

- Expected Family Contribution (EFC)

(determined by Federal Methodology and included on the FAFSA)

- Other Resources

(e.g., outside agency scholarships, value of tuition waivers, etc.)

____________________________________________

= Financial Need



Financial aid notifications
Financial Aid Notifications

  • Types and amounts of aid offered

  • Program terms and conditions

  • Additional action needed on the student’s or parent’s part to secure funding

    • Accept/decline

    • Loan process

    • Signed statement


Institution specific processes
Institution Specific Processes

  • Priority deadline dates

  • Packaging philosophies

  • Acceptance of TASFA

  • Loan processes

  • Award notices

  • Disbursement processes

  • Review of special student circumstances

  • Satisfactory Academic Progress


Scholarship sources
Scholarship Sources

  • Financial Aid Office

  • Scholarship Office

  • Departments On-Campus

  • Organizations On-Campus

  • Outside Agencies

  • Free Scholarship Searches



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