Helping you plan, apply, and pay for college

1. Helping you plan, apply, and pay for college FAFSA: What you Need to Know 2018-19

2. What is CFNC? • Comprehensive Website at www.CFNC.org • Toll-free telephone advice at 866.866.CFNC • Field representatives in every area code in NC A FREE resource for North Carolina students and families – Plan, Apply, and Pay for College!

3. What We’ll Talk About • College Cost of Attendance • Types of Financial Aid • Free Application for Federal Student Aid (FAFSA) • Federal and State Aid Programs • Residency Determination Service (RDS) • Scholarship Sources • CFNC Resources

4. College Costs Direct Costs: Tuition Required Fees Room Meals (Board) Indirect Costs: Books & Supplies Transportation Personal & Miscellaneous Loan Fees

5. Financial Aid Basics • Gift Aid – Grants & Scholarships • Self Help – Employment & loans • Merit-Based Aid – Academic, Music, Athletic Scholarship • Need-Based Aid – Pell Grant and Federal Stafford Loan Student’s family is primarily responsible for educational expenses.

6. Basic Principle of Financial Aid Cost of Attendance (COA) at institution - Expected Family Contribution (EFC) Eligibility for Need-Based Funds at institution A family’s ability to pay must be evaluated in an equitable and consistent manner while recognizing special circumstances that may alter a family’s ability to pay. The FAFSA is used for this purpose for federal and state student aid programs.

7. Application Process Free Application for Federal Student Aid (FAFSA) fafsa.gov Signature FSA ID (fsaid.ed.gov)

8. FAFSA Log-In with FSA ID

9. FAFSA Log-In

10. Application Process Important FAFSA Reminders: Apply early after October 1 Now a mobile app – phone/tablet friendly NEW!! Meet your college’s deadlines Do not wait until you are admitted Can add up to 10 colleges & universities Yearly application process

11. FAFSA – Dependency Status (for 2019-20) Dependent student answers NO to all of these questions Born before January 1, 1996? Married? Working on Masters or Doctorate in 2019-20? Has or will have children or other dependents of his/her own that he/she supports (more than 50%) in 2019-20? On active duty in the U.S. Armed Forces (for purposes other than training)? A veteran of the U.S. Armed Forces?

12. FAFSA – Dependency Status At any time since student turned 13, were student’s parents deceased, student in foster care or was the student a dependent or ward of the court? As determined by a court, is/was an emancipated minor? As determined by a court, is in a legal guardianship? At any time on or after July 1, 2018 was student homeless or self-supporting and at risk of being homeless?

13. Dependency Determination questions for student (Is the student dependent or independent for financial aid purposes?)

14. Who are the parents & who files FAFSA? • Biological or adoptive parents married to each other • Biological or adoptive parents who are not married to each other and are living together • A single parent who is widowed or never married • Separated/Divorced parents not living together – list the parent with whom the student lived most often AND include stepparent information if the parent has remarried

15. Parent and Student FAFSA Information • Parent(s) and student’s Adjusted Gross Income, earnings from work, tax liability - from IRS form (2 years prior to enrollment year) • Untaxed Income (2 years prior to enrollment year) • Asset Information – including (as of now) • Cash, savings, checking accounts • Other real estate and investments • Business (Small family business – not reported) • Investment Farm (Family farm – not reported)

16. IRS Data Retrieval Tool Transferring datadirectly from the IRS,if eligible, is the fastest and easiest way to complete the tax information. (student and parents)

17. Student and Parent Signatures

18. FAFSA Confirmation Page

19. 2018 FAFSA Day Saturday, October 27, 2018 9:00 a.m. to 12:00 p.m. Register at CFNC.org/fafsaday or call 866-866-CFNC

20. Financial Aid Programs – Federal Aid Federal Pell Grant Federal Supplemental Grant (FSEOG) Federal Work Study William D Ford Federal Direct Loans Subsidized Stafford Loan (5.05%) Unsubsidized Stafford Loan (5.05%) Parent Loan for Undergraduate Students (7.6%) GradPLUS

21. Sector-Based State Financial Aid Programs UNC Need-Based Grant NC Community College Grant NC Need-Based Scholarship NC Education Lottery Scholarship

22. Financial Aid Programs – Other State Aid • NC Reach (foster youth) NCReach.org • Golden LEAF Scholarship CFNC.org/goldenleaf • Other NC programs described in Student Financial Aid for North Carolinians available at CFNC.org/fabook. • North Carolina Forgivable Education Loan for Service -CFNC.org/FELS for list of majors and $$

23. Residency Determination Service (RDS) Centralized residency service for all students seeking admission to, and in-state tuition rate at, a North Carolina public college or university seeking to be eligible for the North Carolina state grant as part of their state financial aid package Complete an online interview at ncresidency.org or via CFNC’s Application Hub

25. Information You Might Find On Your Financial Aid Award Notice Cost of Attendance and your Estimated Family Contribution (EFC) Disclaimers about the aid offered Reminder to report the receipt of other scholarships you expect to receive Itemized list of aid awarded (grants, scholarships, work study, loans) List of action/steps you must take to complete the process Terms and conditions that apply to your financial aid offer

26. Financial Aid Award Letter Examples

27. What happens after I file the FAFSA? • Complete verification if required • Respond to any questions from the campus aid office • Receive financial aid award notification • Reply to offers of aid (and admission) • Complete all steps necessary to secure offered aid you intend to accept • Notify campus of outside scholarships

28. Additional documentation may be required… for VERIFICATION of application: Adjusted Gross Income (AGI) U.S. income tax paid Additional Financial Information Child support paid Education credits Supplemental Nutrition Assistance Untaxed Income – only if reportable on the FAFSA Untaxed IRA and pension distributions IRA deductions Tax exempt interest FAFSA Verification

29. FAFSA Verification – Tax Transcript

30. Family situations that cannot be documented on FAFSA, such as: Change in employment status Death in the family Change in parents’ marital status Medical expenses not covered by insurance Student cannot obtain parent information Make the financial aid office at your selected college aware of any special circumstances. Be prepared to provide documentation related to the situation, including the financial impact of the change. Special Circumstances

31. Let’s sum it up! Five primary areas to find funding for FREE!! FAFSA Local scholarships Institutional scholarships State-based scholarships National scholarships • CollegeBoard.org – BigFuture • Unigo.com/scholarships • Cappex.com • Fastweb.com • Collegegreenlight.com

32. Connect With Us! College Foundation of North Carolina (CFNC) College Foundation of North Carolina @myCFNC @CFNC

33. Questions? 866-866-CFNC (866-866-2362) Visit CFNC.org