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Financial Aid Overview, Application Process and Student Eligibility. Lisa Stewart Texas A&M University at Galveston. TASFAA 2013 ABC Workshop. Four components that make up financial aid: Scholarships Institutional and outside Grants Federal and state Loans

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Financial Aid Overview, Application Process and Student Eligibility

Lisa Stewart

Texas A&M University at Galveston

TASFAA 2013 ABC Workshop


Four components that make up financial aid:

  • Scholarships

    • Institutional and outside

  • Grants

    • Federal and state

  • Loans

    • Federal, state, and institutional

  • Work Study

    • Federal and state



Module objectives
Module Objectives central element of the federal student aid application process

  • Explain how to apply for Title IV aid

  • Identify and describe various methods students may use to apply for financial aid

  • Practice completion of FAFSA.


Module objectives1
Module Objectives central element of the federal student aid application process

  • Explain how FAFSA data are processed by Central Processing System (CPS)

  • Identify and describe types of FAFSA processing output

  • Review how to:

    • Make changes to applicant data

    • Override student dependency status


Free application for federal student aid
Free Application for Federal Student Aid central element of the federal student aid application process

There are multiple versions of the FAFSA:

  • The paper FAFSA

  • FAFSA on the Web (FOTW)

  • FAA Access to CPS Online

  • FAFSA on the Phone


Electronic fafsas
Electronic FAFSAs central element of the federal student aid application process

  • FAFSA may be filed electronically via:

  • FAFSA on the web (completed by student)

  • FAA Access to CPS Online(completed by advisor)


Fafsa on the web
FAFSA on the Web central element of the federal student aid application process

  • Available in English and Spanish

  • Real-time FAFSA submission and updates

  • Ability to electronically sign using a Federal Student Aid (FSA) Personal Identification Number (PIN)

  • Instructions and “help text” for certain questions

  • Skip-logic allowing student and/or parent to skip unnecessary questions

  • “Chat” help.


Fafsa on the web cont
FAFSA on the Web central element of the federal student aid application processcont.

  • Built-in edits check for errors prior to submission

  • Ability to check application status on-line

  • Printable FOTW Worksheet assists in collecting necessary application information


Faa access to cps online
FAA Access to CPS Online central element of the federal student aid application process

To use:

  • School must register with U.S. Department of Education (ED)

  • Financial aid administrator must have user ID and password


Dependent student status special circumstances
Dependent Student Status: Special Circumstances central element of the federal student aid application process

Dependent applicants unable to provide parental information due to a special family circumstance, may use FAFSA on the Web to bypass the parent questions


Internal revenue service data retrieval
Internal Revenue Service central element of the federal student aid application process Data Retrieval

  • Process enables students and parents to transfer tax return information from IRS website directly to FOTW application

  • IRS Data Retrieval also available for corrections


Completing fafsa on the web
Completing FAFSA on the Web central element of the federal student aid application process

  • Answer all applicable questions accurately

  • List colleges to receive FAFSA results

  • Sign and submit.

  • If selecting “Will File”, return and input corrected information.


Signing the fafsa on the web
Signing the FAFSA on the Web central element of the federal student aid application process

Three methods to sign application:

  • Electronically using FSA PIN;

  • Sign printed copy of signature page; or

  • Sign rejected Student Aid Report (SAR) - (when using CPS completion method)


Application signatures
Application Signatures central element of the federal student aid application process

  • Signing application:

    • Certifies accuracy of data

    • Acknowledges ED authority to verify information reported with other federal agencies

    • Agrees to provide any info requested

    • Certifies identity

    • Acknowledges consequences of false information

    • Agrees to certain application certification statements


Expected family contribution efc
Expected Family Contribution (EFC) central element of the federal student aid application process

  • Amount family can reasonably be expected to contribute

  • Stays the same regardless of college

  • Calculated using FAFSA data and a federal formula


What makes up the efc
What makes up the EFC? central element of the federal student aid application process

  • Number of individuals in the household

  • Number of individuals in college

  • Parents income/assets

  • Students income/assets


Student eligibility for title iv aid
Student Eligibility for Title IV Aid central element of the federal student aid application process

Students must meet several general eligibility requirements

  • Some requirements are student related

  • Others relate to the program of study


General student eligibility requirements
General Student Eligibility Requirements central element of the federal student aid application process

Criteria categories:

1. Checked via application process

2. Checked and monitored by school

3. Not specifically checked, but must be resolved if conflicting information exists


Department of homeland security primary verification
Department of Homeland Security Primary Verification central element of the federal student aid application process

  • Database match between Central Processing System (CPS) and Department of Homeland Security (DHS) to confirm eligible noncitizen status

  • If primary verification confirms eligible noncitizen status, no further proof is required


Dhs secondary confirmation
DHS Secondary Confirmation central element of the federal student aid application process

  • CPS submits automated DHS secondary confirmation request to DHS if primary verification failed and an Alien Registration Number was provided on the FAFSA

  • Automated secondary confirmation usually is completed within 3 days


Social security number
Social Security Number central element of the federal student aid application process

Three types of Social Security Administration (SSA) database matches:

  • Student’s Social Security Number (SSN)

  • Parent’s SSN

  • Date of death


National student loan data system
National Student Loan Data System central element of the federal student aid application process

Student and parent PLUS borrower must:

  • Not be in default on a Title IV loan

  • Not owe a Title IV overpayment

  • Not have exceeded Title IV loan limits

  • Have fully repaid any fraudulently obtained Title IV funds


Drug convictions
Drug Convictions central element of the federal student aid application process

  • Two sets of student eligibility requirements apply

  • Different means used to determine whether student meets the requirements

    • Department of Justice database match

    • Question 23 on 2013–14 FAFSA


Institutional eligibility regulations
Institutional Eligibility Regulations central element of the federal student aid application process

School may not admit as a regular student persons who:

  • Do not have high school diploma or its recognized equivalent; and

  • Are below the age of compulsory attendance in the state in which school is located


Cps database matches
CPS Database Matches central element of the federal student aid application process

  • Social Security Administration:

    • Social Security Number (SSN)

    • Master Death File

    • U.S. citizenship

  • Department of Homeland Security:

    • Eligible noncitizen status

  • Selective Service System:

    • Registration with Selective Service


Cps database matches1
CPS Database Matches central element of the federal student aid application process

  • National Student Loan Data System (NSLDS) for Title IV funds:

    • Loan defaults

    • Exceeds loan limits

    • Any unpaid fraudulently obtained funds

    • Repayments


Cps database matches2
CPS Database Matches central element of the federal student aid application process

  • Department of Defense: Identify eligible students for increased aid due to parent or guardian death as a result of U.S. military service in Iraq or Afghanistan after 9/11/2001

  • Department of Veterans Affairs (VA): Verification of veteran status


Application output
Application Output central element of the federal student aid application process

Processed application output sent to:

  • Student in form of SAR(paper or electronic)

  • School in form of Institutional Student Information Record (ISIR)

  • Student’s state agency in form of ISIR


Student aid report sar
Student Aid Report (SAR) central element of the federal student aid application process

  • Summarizes information reported on application (paper or electronic)

  • Provides processing results including:

    • EFC

    • Messages related to database matches

    • Verification selection

    • Eligibility for Title IV aid


Application output1
Application Output central element of the federal student aid application process

  • Student output depends on whether the student provided e-mail address

  • CPS sends student:

    • E-mail Notification of SAR Processing, if e-mail address is provided;

    • Paper SAR, if paper FAFSA and no e-mail address; or

    • Paper SAR Acknowledgement, if electronic application and no e-mail address


Paper student aid report
Paper Student Aid Report central element of the federal student aid application process

Paper SAR enables students to readily determine:

  • Status of their FAFSA (complete or incomplete)

  • Eligibility or ineligibility for Federal Pell Grant

  • Next steps in the application process


Sar acknowledgement
SAR Acknowledgement central element of the federal student aid application process

SAR Acknowledgement is sent to student whose application data was electronically submitted and no e-mail address provided

  • Includes EFC

  • Establishes student’s Title IV eligibility

  • Cannot be used to make changes


Changing applicant data
Changing Applicant Data central element of the federal student aid application process

  • Corrections: Changes to incorrect data

  • Updates: Changes required for some data items that change after FAFSA was filed

  • Adjustments: Changes to applicant data by financial aid administrator using PJ

    • Dependency override: Adjustment of student’s status from dependent to independent by FAA


Corrections adding schools
Corrections: Adding Schools central element of the federal student aid application process

  • Adding a school to CPS record is considered a correction

  • Student can add schools by:

    • Using FAFSA on the Web and FSA PIN;

    • Calling Federal Student Aid Information Center at 1.800.433.3243 and providing Data Release Number; or

    • Submitting correction on paper SAR


Electronic corrections
Electronic Corrections central element of the federal student aid application process

  • Students with a FSA PIN can electronically make and sign corrections

  • FSA PIN or signature of dependent’s parent required only if change is made to parental data


Paper sar corrections
Paper SAR Corrections central element of the federal student aid application process

  • Student or parent must follow SAR instructions

  • SAR must be signed by:

    • Student

    • Parent, if dependent


Items that must be updated
Items That Must Be Updated central element of the federal student aid application process

  • Household size, if selected for verification

  • Number in college, if selected for verification

  • Dependency status, whenever change occurs, whether or not selected for verification, except updating not permitted for:

    • Change in student’s marital status (This is an option for the school, if it chooses)


Adjustments
Adjustments central element of the federal student aid application process

  • Made only by financial aid administrator

  • May be made using FAA Access to CPS Online

  • Financial aid administrator can perform dependency overrides on paper FAFSA

  • Student’s and/or parent’s signature not required if documentation used as basis of the adjustment is signed


Dependency status override
Dependency Status Override central element of the federal student aid application process

Student may be considered independent if unusual circumstances exist

  • Decision must be made and documented on case-by-case basis

  • Can override dependency status on initial paper application or after initial application is filed


Dependency override after initial application
Dependency Override: central element of the federal student aid application processAfter Initial Application

  • Override performed using FAA Access to CPS Online (or EDExpress)

    • Only the school submitting the override will be sent a revised ISIR.

    • Your school may accept a decision made by another school for that award year.


Questions
Questions? central element of the federal student aid application process


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