How To Get A Fafsa Credit Card

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1 1 COMPLETING THE FAFSA: FREE APPLICATION FOR FEDERAL STUDENT AID Presented by: Kacie Osorio, MA Educational Talent Search Program Coordinator Lone Star College North Harris

2 2 GETTING STARTED!!! YOU WILL NEED TO HAVE.. Your PIN Parent/s needs to set up PIN Most updated tax information Social Security Number (SS#) student and parent/s Any savings/bank account information

3 3 #1. Federal Student Aid PINs -Personal Identification Number- What is a FAFSA PIN??? Your PIN can be used each year to electronically apply for federal student aid and to access your Federal Student Aid records online. If you receive a PIN, you agree not to share it with anyone. Your PIN serves as your electronic signature and provides access to your personal records, so you should never give your PIN to anyone, including commercial services that offer to help you complete your FAFSA. Be sure to keep your PIN in a safe place.

4 4 Parent s electronic signature Electronic signature and certain student loan contracts Make corrections Access information about federal student aid the student has received Update year to year (reapply) PIN number View FAFSA processing results

5 #1. GET YOUR PIN 5

6 #1. GET YOUR PIN 6

7 7 #2. FASFA4Caster FAFSA Forecaster Created by the Department of Education Financial aid estimator A tool allowing students to estimate their Expected Family Contribution (EFC), a measurement which schools use to determine the amount of financial aid to award a student. How it works FAFSA4Caster calculates amount of federal aid a student is eligible for based on (number of factors) age, income, school year, and anticipated cost of attendance. After filling in the necessary information, the student can view an estimate of his or her eligibility amount, broken down by type this includes Federal Grants, Stafford Loans, and Work Study.

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23 23 #3 FAFSA: Section 2-Student Dependency Status Foster Care A temporary living arrangement for dependent children when their parent(s) or another relative cannot take care of them. Emancipated Minor An individual (under the age of 18) who has legally been determined to be an adult by a court in his or her state of legal residence. Legal Guardianship A court order, through which the court appoints an individual other than a minor's parent to take care of the minor. A legal guardian is not considered a parent on the student's FAFSA. In fact, a student in legal guardianship does not need to report parent information on the FAFSA because he or she is considered an independent student.

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25 25 #3 FAFSA: Section 3-Parent Information If your parent is widowed or single, answer the questions about that parent. If your widowed parent is remarried as of the day you sign the FAFSA, answer the questions about that parent and the person whom your parent married (your stepparent). The following people are not your parents unless they have adopted you: grandparents, foster parents, legal guardians, older brothers or sisters, and uncles or aunts. What if I don t live with my parents? You still must answer the questions about your parents if you re considered a dependent student.

26 #3 FAFSA: Section 3-Parent Are you unable to provide parent information due to special circumstances? In situations such as the ones below, you may be able to submit your FAFSA without parent information despite being considered a dependent student: Your parents are incarcerated. You have left home due to an abusive family environment. You do not know where your parents are and are unable to contact them (and you have not been adopted). You are older than 21 but not yet 24, are unaccompanied, and are either homeless or self-supporting and at risk of being homeless. FAFSA on the Web will ask you whether you are able to provide information about your parents. If not, you will have the option to indicate that you have special circumstances that make you unable to get your parents information. FAFSA on the Web then allows you to submit your application without entering data about your parents. It is important for you to understand the following: Although your FAFSA will be submitted, it will not be fully processed. You will not receive an Expected Family Contribution and must immediately contact the financial aid office at the college or career school you plan to attend. The financial aid staff may ask for additional information to determine whether you can be considered independent and have an EFC calculated without parent data. Gather as much written evidence of your situation as you can. Written evidence may include court or law enforcement documents, letters from a clergy member, school counselor or social worker, and/or any other relevant data that explains your special circumstance. The financial aid office s decision about your dependency status is final and cannot be appealed to the U.S. Department of Education. Information 26 Are your parents unwilling to provide their information on your FAFSA? You can t be considered independent of your parents just because they refuse to help you with the FAFSA. Still, we do understand that in some cases, the parents are not supporting the dependent student at all and refuse to provide their information on the student s FAFSA. If you re in that situation, here s the process: 1. When FAFSA on the Web asks you whether you are able to provide information about your parents, say no. 2. On the next screen, select the option that says you don t have a special circumstance but you still can t provide parent information. 3. The FAFSA explains that if your parents don t support you and refuse to provide their information on the FAFSA, you may submit your FAFSA without their information. However, you won t be able to get any federal student aid other than an unsubsidized loan and even that might not happen. The decision is up to the financial aid office at the college or career school you plan to attend. If you agree to this, you may submit your FAFSA without parent information. 4. Your FAFSA information will be sent to the colleges you list, but you won t get an Expected Family Contribution (EFC). 5. You must immediately contact your school s financial aid office to discuss the possibility of getting an unsubsidized loan. The financial aid office may ask for a written statement from your parents, indicating that they refuse to provide their information on the FAFSA and that they no longer support you. (Forms of support include allowing you to live in their home, including you on their car or health insurance, providing a car to drive on a regular basis, and payment of your tuition or fees.)

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39 39 FAFSA: WHAT S NEXT?? Student Aid Report How and when will I get my SAR? What information does a SAR contain? What am I supposed to do with my SAR? Receive an with instructions on how to access an online copy of your SAR. An Expected Family Contribution (EFC) will display in the upper right-hand corner of your SAR. Data Release Number (DRN). You will need the DRN if you choose to allow your college or career school to change certain information on your FAFSA. Review it carefully!!! Make sure it s correct and complete. The school(s) listed on your FAFSA will use your information to determine your eligibility for federal and possibly nonfederal financial aid

40 40 FAFSA: WHAT S NEXT?? CORRECTIONS OR UPDATES?! What kinds of changes can I make to my FAFSA SM once it s been processed? Corrections: If You Made a Mistake Updates: If Your Situation Has Changed dependency status If (and only if) you are selected for verification number of family members in household or in college change Changes to Federal School Codes: If You Want to Add or Delete a School How do I make changes to my FAFSA SM? Make changes at Click Start Here to log in. Click Make FAFSA Corrections. Enter your Federal Student Aid PIN. Change your information. Submit your new information. Write in the corrections or updates on your paper Student Aid Report (SAR), sign it, and mail it to the address provided on the SAR. Check with the financial aid office at the school you plan to attend; the school might be able to make changes for you electronically.

41 41 FAFSA: THE AWARD LETTER!!! Asks you to indicate which financial aid you want I will need to borrow some money. How do I decide which student loans to accept? Review! Review! Review! Understand the differences: Scholarship/Grants Work Study Federal and State Loans Private Loans Is it okay to accept less loan money than the school offered? How do I tell the school what aid I m accepting? How and when will I get my financial aid?

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43 43 Helpful WEB resources Always check out your school of attendance web page!!!!