Financial Aid 101. 2014. Super FAFSA Week. What You Need to Know About the College Financial Aid Process. Sponsored by the Virginia Association of Student Financial Aid Administrators and Funded in part by the College Access Challenge Grant Program. Topics. What is Financial Aid?
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Super FAFSA Week
What You Need to Know About the College Financial Aid Process
Sponsored by the Virginia Association of Student Financial Aid Administrators and
Funded in part by the College Access Challenge Grant Program
Varies based on the school
Example: Room and Board (resident assistants)
Common Federal Loan Programs
Complete the Free Application for Federal Student Aid (FAFSA) each year.
FAFSA will ask a series of questions to determine if the student is dependent or independent, including:
* If all “No” answers, student is dependent.
* If “Yes” to any question, student is independent.
In cases of divorce or separation:
You may be eligible for adjustment based on professional judgment - speak with your financial aid administrator
Good Luck and Thank You for participating in VASFAA’s Super FAFSA Week
Most students will start here. If they have already begun this year’s FAFSA, they will go to the Login option
This is where students will go if they have never filed a FAFSA
This option is available for a student who has forgotten his or her PIN
After general student data, students will reach the dependency determination page. If the student is not able to answer “yes” to any of these questions, he or she will be considered a dependent student. This will mean that he or she will be required to provide parent data
This is true EVEN IF the parent does not support the student financially or does not claim him or her on taxes
The following slides show some of the FAFSA questions that request tax information. Here are some examples of what these pages look like and how to help the student complete these portions of the FAFSA
The questions in this section of the page ask for the dollar amounts of specific items from tax information
The help and hints box is VERY IMPORTANT! It tells EXACTLY where to find each item in your tax documents.
This is what the income information looks like if the student did not work or did not make enough money to be required to file taxes.
On the last page, if the student has a PIN, it will look like this. The parent section will look similar.
FAFSA will give these options to a student who does not wish to sign with a PIN. While this is not recommended, it is an option available to students who have had difficulty getting a PIN or have not yet tried. They may print the signature page and mail it in to FAFSA, or submit the FAFSA without a signature.
IF IT IS SUBMITTED WITHOUT A PIN SIGNATURE, IT WILL NOT SEND AN EFC RESULT TO THE SCHOOL.
IT IS IMPERATIVE TO STRESS THE IMPORTANCE OF COMING BACK AND SIGNING OR MAILING IN THE SIGNATURE PAGE SO THAT STUDENTS MAY GET FINANCIAL AID AWARDS FROM SCHOOLS.