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Overview of Financial Aid Programs

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Financial Aid
Money from a source other than the family to assist with the cost of attending college

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Cost of Attendance (COA)

Direct costs Indirect costs COA varies widely from college to college

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Expected Family Contribution (EFC)

An index used to calculate eligibility for aid Stays the same regardless of college Two components
Parent contribution Student contribution

Calculated using FAFSA data and a formula specified in law

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Financial Need
Cost of Attendance (COA) Expected Family Contribution (EFC) = Financial Need

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Categories of Aid
Need-based aid

Non need-based aid

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Types of Aid
Grants Scholarships Loans Work-Study
Please Note: Sequestration has had an impact on certain federal aid programs. For more information go to: https://studentaid.gov/about/announcements/sequestration Slide 8

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Sources of Aid
Federal government States Colleges Private sources
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Financial Aid Programs: Grants

Federal Pell Grant Teacher Education Assistance for College and Higher Education (TEACH) Grant Federal Supplemental Educational Opportunity Grant (FSEOG) Iraq and Afghanistan Service Grant
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Federal Pell Grant

The Federal Pell Grant Program provides need-based grants to low-income undergraduate students. Grant amounts depend on the students: Expected Family Contribution (EFC) Enrollment status (full or part-time) Attendance status (full academic year or less) Pell Grant maximum award per academic year: $5,645 (2013-2014)
* Maximum award may be subject to change pending legislative budgetary adjustments

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FSEOG
The Federal Supplemental Educational Opportunity Grant (FSEOG) Program provides need-based grants to low-income undergraduate students (campus-based aid).
Grant recipients must be: Pell Grant-eligible Current award amounts are from $100 - $4,000 Not all colleges participate in the FSEOG program and funds depend on availability at the college
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TEACH Grant
The T eacher Education Assistance for College and Higher Education Grant Program (TEACH) provides assistance to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families.
Grant recipients must be: Enrolled in an institution that participates in the TEACH Grant Program Enrolled in coursework that is necessary to being a career in teaching Able to demonstrate certain academic achievements

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TEACH Grant (Contd)

The Teach Grant:
Is not based on financial need Is available to both undergraduate and graduate students Provides the following maximum award $4,000 (2012-2013)

TEACH Grant recipients must sign an Agreement to Serve which states that the student will:
T each at least four years in a public or private elementary or secondary school T each full-time in a high-need field T each in a school that serves students from low-income families If the teaching obligation is not completed, the TEACH Grant must be repaid as a Direct Unsubsidized Stafford Loan

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Iraq/Afghanistan Service Grant

Students whose parent or guardian died as a result of military service in Iraq or Afghanistan after September 11, 2001, may be eligible for additional Title IV aid.

Additional Student Eligibility Requirements: - Less than 24 years old - Enrolled in college at least part-time at the time of the parents or guardians death

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Federal Financial Aid Programs

Campus-Based Programs Federal Supplemental Educational Opportunity Grant (FSEOG) Federal Work-Study (FWS) Federal Perkins Loan
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Federal Financial Aid Programs

Work-Study
Provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses

Loans

Federal Perkins Loan Eligible employers (On-campus or off-campus employment)

Schools Federal, state orDirect local public agency Subsidized Loan Private nonprofit organization Community service activities

Unsubsidized Direct Loan Students are paid at least federal minimum wage
Not all colleges participate in(Parents) the Federal Work-study program PLUS Direct Loans and funding depends on availability at the college
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Federal Perkins Loans

Federal Perkins Loan
Your college is the lender Payment is owed to the college that made the loan Interest charged on this loan is 5% Funds depend on financial need and availability at the college Not all colleges participate in the Federal Perkins Loan program Undergraduate students up to $5,500 a year Graduate and professional degree students up to $8,000
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Federal Financial Aid Programs: Loans

Direct Stafford Subsidized Direct Stafford Unsubsidized Direct PLUS (Parent) Direct PLUS (Graduate/Professional)

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Stafford Direct Loans

Subsidized Loans
Government PAYS the borrowers accrued interest while you are attending college and other eligible periods Based on Financial Need Fixed Rate Undergraduate students Amount: $3,500-$8,000
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Unsubsidized Loans
The borrowers is responsible for the interest for the life of the loan NOT Based on Financial Need Fixed Rate Undergraduate and graduate students qualify Amount: $5,500-$20,500

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Direct Plus Loans

PLUS loans originate through the William D. Ford Federal Direct Loan Program (Direct Loans). Loan characteristics: For parents of dependent students Borrowers may receive loan amounts up to, but not exceeding the colleges Cost of Attendance Borrower is responsible for all the interest Borrower must not have a negative credit history

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Federal Loan Programs

Interest Rate
Federal Perkins Loan Federal Stafford/ 5% Fixed

Repayment
9 months after school 6 months after school

Additional Info

Subsidized 3.86 % Fixed

Direct Loan Unsubsidized 3.86 % Fixed 6.41%Fixed Direct Lending Schools

Federal Parent PLUS Loan

May be deferred until 6 months student drop time or 60 days after loan is fully disbursed

Subsidized: no interest charged while in school Unsubsidized: interest accrues while in school Interest accrues while student is in school

*Interest rates may be subject to adjustments pending legislative changes

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Other Federal Aid Programs

Corporation for National and Community Service U.S. Department of Veterans Affairs Reserve Officers Training Corps (ROTC)

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Other Federal Aid Programs

Bureau of Indian Affairs (BIA) Grants Vocational rehabilitation benefits U.S. Department of Health and Human Services (HHS)

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Other Sources of Aid

Institutional or private tuition plans Other family resources Home equity loans Private/alternative loans Tuition savings plans (529 plans) Employer-sponsored tuition plans
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Questions/Discussion

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Applying for Federal Student Aid

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FAFSA Completion Resources

www.fafsa.gov Completing the FAFSA available at: www.studentaid.ed.gov/completefafsa Do You Need Money for College? http://studentaid.ed.gov/sites/default/files/201314-do-you-need-money.pdf College Goal Sunday: www.collegegoalsundayusa.org
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FAFSA Completion Tool

Available at:
http://studentaid.gov/about/data-center/student/application-volume/fafsacompletion-high-school

Data available by state or territory Report alphabetical by high school Shows number of completed and submitted Free Applications for Federal Student Aid (FAFSAs) for current and previous application cycles
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FAFSA
Produced by the U.S. Department of Education Collects familys personal and financial information used to calculate students EFC Available in English and Spanish Available in three formats:
On-line PDF (Download from www.fafsa.gov) Paper
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FAFSA on the Web

Website: www.fafsa.gov 201415 FAFSA on the Web available on January 1, 2014 FAFSA on the Web Worksheet: Used as optional pre-application checklist
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FAFSA on the Web

Good reasons to file electronically: Built-in edits to help prevent costly errors Simplification: Skip-logic allows student and/or parent to skip unnecessary questions Immediate submission of original application and any necessary corrections More detailed instructions than space allows on the paper FAFSA Help & Live Chat Assistance Options Ability to check application status on-line Simplified application process in subsequent years
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Modifications for 201415

Many changes to information collected from both of a dependent students legal parents-without regard to the marital status or gender of those parents, if the parents live together. Information collected related to other parent marital statuses remains unchanged.
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Modifications for 201415

Parent Marital Status Changes
Single replaced by Never Married Unmarried and Both Parents Living Together now added
Biological Parents or Same Sex Parents (regardless of state authority related to marriage) should use this response if appropriate Smart Logic will modify follow-up questions with gender-neutral identifiers: Parent 1 and Parent 2
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Modifications for 201415

Unmarried and Both Parents Living Together will not be able to use IRS Data Transfer option May result in an increased/decreased EFC for previous filers based on calculations (income and/or # in household included now)
Due to recent U.S. Supreme Court decision on DOMA, the Department of Education is reviewing the impact on the federal student aid programs
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Modifications for 201415

Tax Filing Status Question added for student and parent sections-wording same as on tax forms with Dont Know option included Dollar Amount Fields increased to 7 digits for selected questions EFC Field increased to 6 digits Untaxed Portions of Health Savings Accounts now included in Untaxed Income question for student and parent.
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Question/Instruction Revisions
Where appropriate, Father/Stepfather/ Mother/Stepmother may be replaced with Parent 1 and Parent 2 Untaxed Income question no longer includes first-time home buyer tax credit as it expired with the 2012 tax year Change to say must correct that information after you file when using estimated information
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PIN Registration
Website: www.pin.ed.gov Not required, but speeds processing May be used by students and parents throughout aid process, including subsequent school years Slide 13
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IRS Data Retrieval Tool

Students completing a 201415 FOTW will be able to utilize IRS Data Retrieval Tool in early February 2014 Data available in English and Spanish IRS data available within 2-3 weeks for electronic filers or 8-11 weeks for paper tax filers
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IRS Data Retrieval Tool

FOTW includes logic/questions to determine if applicant is eligible to use the IRS Data Retrieval Tool Applicants response will take him or her to the IRS system or provide a message that the applicant should use own financial figures to complete FOTW Not available for Unmarried and both parents living together not eligible to use the IRS Data Retrieval
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Frequent FAFSA Errors

Parent and Student Social Security Numbers Divorced/remarried parental information Income earned by parents/stepparents Untaxed income U.S. income taxes paid Household size Number of household members in college Real estate and investment net worth
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FAFSA Processing Results

CPS notifies student of FAFSA processing results by:
E-mail notification containing a direct link to students electronic SAR if students e-mail was provided on paper or electronic FAFSA

Student with FSA PIN can view SAR on line at www.fafsa.gov

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FAFSA Processing Results

Central Processing System (CPS) notifies student of FAFSA processing results by: Paper Student Aid Report (SAR) if paper FAFSA was filed and students e-mail address was not provided SAR Acknowledgement if filed electronically via FAFSA on the Web and students e-mail address was not provided
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SAR Formats
E-mail link to electronic SAR Paper SAR Paper SAR Acknowledgment

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Making Corrections
Corrections to FAFSA data may be made by: Using FAFSA on the Web (www.fafsa.gov) if student has a FSA PIN Updating and mailing paper SAR Submitting documentation to schools financial aid office

Corrections required if estimated income used for initial filing

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Correcting Estimated Tax Information

Many families complete the FAFSA using estimated tax information to meet early deadlines Encourage families to submit updated tax information using the IRS Data Retrieval Tool
Not using process can make it more difficult for families to complete verification
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Verification
Process by which the Department of Education (ED) through the financial aid office confirms that information provided by students and families on the FAFSA is accurate

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Verification
Students can be selected for verification by:
ED or college

Items to be verified will vary Process

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Cost of Attendance (COA)

Estimate of a students costs for a specified period Includes direct and indirect costs Major component of determining a students financial need
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Reviewing and Comparing Award Letters

Out of pocket expenses after financial aid Mix of grants and self-help aid Future award packages

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Establishing a Relationship with the Financial Aid Office

Importance Questions to ask Benefits

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Questions/Discussion

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Student Dependency Status

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What Makes a Student Independent?

Born before 1/1/91 (for 20142015 year) Married Graduate or professional student

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What Makes a Student Independent?

Active duty military for purposes other than training Veteran

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What Makes a Student Independent?

Children Dependents other than children or spouse

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What Makes a Student Independent?

Orphan, foster care, dependent/ward of the court Emancipated minor Legal guardianship

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What Makes a Student Independent?

Homeless or at risk of becoming homeless
As determined by agency specified in FAFSA instructions Or by financial aid administrator

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Dependency Overrides
Financial Aid Administrators have authority to change the filing status from dependent independent Student must present documentation of situation

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Dependency Overrides
Special circumstances:
Abuse at home Abandonment by parents

NOT special circumstances:

Parents dont claim student on taxes Student does not live with parents and supports self Parents dont want to help pay for college Parents refuse to provide information for FAFSA
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Dependency Overrides
Documentation from third party: Teacher Social worker Member of clergy Court Law enforcement
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Completion of FAFSA Without Parental Information

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No Access to Parental Information

FOTW asks whether student will provide parental data If no, student indicates he or she meets special circumstances criteria Student can submit FAFSA without parent information FAFSA will have reject code
Student needs to work with school to complete application
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Parents Refuse to Provide Information

Student indicates situation on FOTW, choosing option that he or she is applying only for an unsubsidized loan Student submits FAFSA without parental information EFC not calculated Student must contact school regarding documentation and decision
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Who Qualifies as a Parent for a Dependent Student?

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Who Is a Parent?
Biological parents Adoptive parents Stepparents, if they are married to the students biological or adoptive parent and the student is included in their household size
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Who Is NOT a Parent?

Foster parents Legal guardians who have not adopted the student Relatives who have not adopted the student Stepparents who have not adopted the student and who would be the only person providing parental information
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Case Study: Lisa

1. Lisas parents are divorced. She lives with mom and only stays with dad a few weeks during the summer. 2. Lisas dad makes more money than her mom. 3. Lisa now lives half time with dad, half time with mom.
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Case Study: Lisa

4. Lisas mom remarries. Does stepdads information go on her FAFSA? 5. Lisas stepdad has his own kids. Should Lisas leave his information off her FAFSA?

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Case Study: Shawn

1. Shawns mom passed away, and he doesnt get along with dad. Shawn lives with his older sister and her husband. 2. Shawns dad is now incarcerated. Should Shawn take a paper FAFSA on a visit for information and a signature?

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Case Study: Carlos

1. Carlos lives with his grandmother to take pressure off his mom. 2. Carlos grandmother has been named his legal guardian.

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Questions

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Counseling Undocumented Students about Financial Aid

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Agenda
Undocumented students Federal financial aid State aid Other aid sources Counseling undocumented students
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What Does It Mean to be Undocumented?

Individual lacks the documents required for immigration or legal residence Individuals may have:
Entered the country legally on a temporary basis and stayed after documents expired Entered without documents Been brought into the country by someone else
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Statistics about Undocumented Students

1.1 million are children under 18 Another four million children are U.S. citizens by birth Approximately 65,000 undocumented students graduate from U.S. high schools every year
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Undocumented Parents
Parents undocumented status usually does not affect students eligibility to apply for certain types of aid Eligibility depends on students status Federal or state laws do not require students to prove citizenship in order to enter U.S. institutions of higher education; however, institutional policies on admitting undocumented students vary Slide 6
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Federal Aid
Definitions outlined in Volume 1, Chapter 2 of the Federal Student Aid Handbook http://ifap.ed.gov/fsahandbook/attachments/1213FSAHbkVol1Ch2.pdf Completing the FAFSASM 2012-13 http://studentaid.ed.gov/sites/default/files/2012-13-completing-thefafsa.pdf Completing the FAFSASM 2013-14 http://studentaid.ed.gov/sites/default/files/2013-14-completing-fafsa.pdf

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Federal Aid
T o be eligible for federal aid, students must be: U.S. citizens or nationals; U.S. permanent residents; Citizens of the Freely Associated States (Micronesia, Palau, and the Marshall Islands); or Other eligible noncitizens
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Categories of Eligible Noncitizens

Persons granted asylum Persons paroled into the U.S. for at least one year Refugees Victims of human trafficking Battered immigrants-qualified aliens and their designated children Conditional entrants Cuban-Haitian entrants
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Eligible Noncitizens
Can often document their status with an I-94, or Arrival-Departure Record Can usually apply for permanent residency after specified time period, such as one year The postsecondary institution, not DOE, determines a students citizenship status
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Ineligible Immigration Statuses

Family unity status T emporary residents Non-immigrant visas for work, students, tourists, and foreign government officials

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State Legislation
Beginning in 2001, a number of states have passed legislation that allows undocumented students to pay in-state tuition at public colleges and universities

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States that have Enacted Legislation Granting In-State Tuition (as of 8/8/13)
California Colorado Illinois Kansas Nebraska New Mexico New York Oklahoma Oregon T exas Utah Washington Wisconsin Maryland Minnesota Connecticut
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States that have Enacted Legislation Prohibiting In-State Tuition

Arizona Georgia Indiana

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Eligibility Criteria for In-State Tuition

See State University System Florida

http://www.flbog.edu/forstudents/ati/resrequirements.php

See Residency Guidelines on Florida Virtual Campus site

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State Models for Undocumented Student Eligibility

Redefine residency for the purpose of tuition charges Make exemptions for payment of out-of- state tuition for certain categories of students Students may also want to check with the Admissions office regarding the availability of an institutional-based exception Florida does not have either of the above for undocumented students Notice of PROPOSED Rule 6A-10.044 (Residency for Tuition Purposes)

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Aid from Colleges and Universities

Institutional scholarships, grants, loans, or work-study programs Availability of institutional aid varies widely Scholarship funds come with a merit component Check it out: Many Florida institutions have an office for international students
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Aid from Private Sources

Fast Web Mexican American Legal Defense and Education Fund Get Ready for College Latino College Dollars Scholarships for Hispanics Genesco Migrant Center

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Be Proactive with Private Aid

Locating private aid sources is labor intensive and time consuming Be proactive and identify local sources of aid Make information easily available Good project for student assistants or local organization
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Counseling Undocumented Students

Safe environment Non-threatening Not required to report status Be supportive

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Counseling Resources
Be proactive Be aware of what is available at state and local level Include the students family in counseling

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Student Options for Federal Aid

May need to refer undocumented students to an attorney familiar with immigration law and regulations about the feasibility of student obtaining permanent status in the U.S.

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DREAM Act for Undocumented Students

The DREAM Act is a bipartisan legislation pioneered by Senator Orin Hatch (Utah) and Senator Richard Durbin (Illinois) Under provisions of the DREAM Act, qualifying undocumented youth would be eligible for a 6 year long conditional path to citizenship that requires completion of a college degree or two years of military service The DREAM Act legislation has not yet passed
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Deferred Action for Childhood Arrivals

August 14, 2012, President Obama provided an executive order through the Department of Homeland Security (DHS) to assist students until the DREAM act is passed Eligible children include:
Came to the United States under the age of sixteen Have continuously resided in the United States for a least five years preceding the date of this memorandum and are present in the United States on the date of this memorandum Are currently in school, have graduated from high school, have obtained a general education development certificate, or are honorably discharged veterans of the Coast Guard or Armed Forces of the United States Have not been convicted of a felony offense, a significant misdemeanor offense, multiple misdemeanor offenses, or otherwise pose a threat to national security or public safety; Are not above the age of thirty
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Deferred Action for Childhood Arrivals

Undocumented students (DREAMers)may apply for deferred action immigration It is not a program for permanent residency, but it does provide youths who meet the criteria temporary protection from deportation, as well as the ability to work legally and stop using fake Social Security cards or laboring off the books
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Deferred Action for Childhood Arrivals

Forms available online Individuals requesting consideration of deferred action for childhood arrivals must submit Form I-821D, Consideration of Deferred Action for Childhood Arrivals, Form I-765, Application for Employment Authorization (with accompanying fees); and an I-765WS, Worksheet. The website, www.uscis.gov/childhoodarrivals, includes a flier, a How do I brochure, frequently asked questions, and a number of other resources USCIS encourages individuals with questions to visit this website or call the USCIS National Customer Service line at 1-800-375-5283

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Deferred Action for Childhood Arrivals

You do not need to pay to have these forms filled out Unauthorized practitioners of immigration law may try to take advantage of individuals by charging a fee to submit forms to USCIS, or provide other services The USCIS website www.uscis.gov/avoidscams includes tips on filing forms, reporting scams and finding accredited legal services U. S. Citizenship and Immigration Services at http://www.uscis.gov/portal/site/uscis is a good resource

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Questions

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And the Number Is

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Agenda
How the expected family contribution (EFC) is calculated Appropriate use of professional judgment Role of high school counselors and mentors in need analysis and professional judgment
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Importance of Learning about EFC Calculations and Professional Judgment

Counselors and mentors are a critical source of information about the financial aid process Help in counseling students and families about applying for aid and understanding output
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Need Analysis
Need analysis has two parts: Estimating a students college costs Calculating the EFC

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Guiding Principles of Need Analysis

Parents and students have the primary responsibility for meeting college costs The distribution of financial aid resources should be based on the familys ability to paynot willingness to pay The assessment of a familys ability to pay should be independent of the amount of financial aid available and cost of attending college
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Guiding Principles of Need Analysis

The need analysis formula should provide a snapshot of the familys financial circumstances at the time of application The need analysis results are a benchmark. As such, the final assessment of a familys ability to contribute to the students college costs is subject to the professional judgment of the financial aid administrator
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The EFC Formula

Detailed in the Higher Education Act of 1965, as amended (HEA) Must be used to determine a students eligibility for federal student aid

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The EFC Formula

Calculates a family contribution
Both the student and parents bear responsibility for paying for college

Separate models for dependent and independent students Assumes enrollment for a full academic year (approximately 9 months)
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EFC Formula: Income

Total income is the sum of: Taxable income (tax filers) or income earned from work (nonfilers) Untaxed income

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EFC Formula: Additional Financial Information

Education tax credits Child support paid Taxable earnings from need-based employment programs

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EFC Formula: Additional Financial Information

Grant and scholarship aid reported as part of adjusted gross income (AGI) Taxable combat pay or special combat pay Earnings from work under a cooperative education program offered by a college

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EFC Formula: Allowances

U.S. income tax paid State and other taxes Social Security taxes Income protection allowance Employment expense allowance
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EFC Formula: Available Income

Amount of income remaining after all applicable allowances have been subtracted

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EFC Formula: Assets

Reported on the FAFSA: Current balance of cash, savings, and checking accounts Net worth of investments, including real estate but excluding the familys primary residence Net worth of businesses and investment farms
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EFC Formula: Treatment of Assets

Two primary family assets not reported on the FAFSA: Familys primary residence Retirement plans

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EFC Formula: Assets

Parents contribution from assets: Education Savings and Asset Protection Allowance subtracted from net worth Contribution is 12% of remaining assets

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EFC Formula: Assets

Students contribution from assets: 20% of net worth

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EFC Formula: Parents Total Contribution

Parents available income + Parents contribution from assets = Parents adjusted available income

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EFC Formula: Parents: Total Contribution

Parents total contribution from adjusted available income: Calculated using a table
Percentage of adjusted available income; or Base amount plus percentage of adjusted available income

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EFC Formula: Parent Contribution

Parents total contribution from adjusted available income Number of family members in college

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EFC Formula: Student Contribution

50% of students available income + Students contribution from assets Student contribution

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EFC Formula: EFC

Parent contribution + Student contribution Expected family contribution

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EFC Formula: Helpful Highlights

Family bears some responsibility to pay for college Purpose of the income protection allowance Source of parent contribution EFC not necessarily what the family will pay out of pocket
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Professional Judgment: Definition

the authority of the financial aid administrator, on the basis of adequate documentation, to make adjustments on a case-by-case basis to the cost of attendance or the values of the data items required to calculate the expected student or parent contribution (or both) to allow for treatment of an individual eligible applicant with special circumstances."
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Professional Judgment: Basics

Families cannot report special circumstances on the FAFSA Professional judgment exercised after the family files the FAFSA and completes verification (if required) Professional judgment exercised by the financial aid administrator
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Professional Judgment: Application

Common professional judgment situations Situations where professional judgment is not appropriate

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Professional Judgment: Process

Varies from college to college Documentation Authority of the financial aid administrator

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Role of High School Counselors and Mentors

Need analysis
Explain purpose of the EFC formula Discuss confusing aspects of the formula

Professional judgment
Explain the general concept Explain appropriate use

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Questions/Discussion

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Searching for Scholarships

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Scholarship Sources
Federal State Institutional Private
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Federal Sources
U.S. Department of Education U.S. Department of Health and Human Services U.S. Armed Forces

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State and Institutional Sources

www.FloridaStudentFinancialAid.org

See the financial aid office at the postsecondary institution

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Private Sources
Foundations Community organizations and civic groups Religious or ethnicity-based organizations Organizations related to students field Local businesses and employers
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Internet Research Tools

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Typical On-line Scholarship Search

http://studentaid.gov/types/grants-scholarships/findingscholarships Always use free searches! Other resources available Guidelines on when and how to apply Department of Labor scholarship search engine: http://www.careerinfonet.org/scholarshipsearch/Scholarshi pCategory.asp?searchtype=category&nodeid=22

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Avoiding Financial Aid Fraud

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Fraud Warning Signs

Students unaware of free resources Students pay for help or guaranteed aid before seeking advice from knowledgeable adult

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Common Fraud Complaints

Paying for guaranteed aid and not receiving anything Paying for help to find aid Paying to file the FAFSA

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Resources for Avoiding Financial Aid Fraud

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Resources
Save Your Money, Save Your Identity
http://studentaid.gov/sites/default/files/save-your-money-andidentity.pdf

Dont Get Scammed On Your Way To College:

http://studentaid.gov/sites/default/files/dont-get-scammed.pdf

1-800 MIS-USED (800-647-8733)

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Federal Trade Commission Site

Handouts Lists of individuals and companies found guilty of fraud Complaint form Publications to order
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Questions/Discussion

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State Aid Programs

Need Merit Special Interest Web Resources

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State of Florida Scholarships & Grants

Funded by the General Appropriations Act (Florida Legislature) Administered by the Florida Department of Education, Office of Student Financial Assistance (OSFA)

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Need-based Aid
Florida Student Assistance Grant Programs (Public, Private and Postsecondary) Florida Public Postsecondary Career Education Student Assistance Grant Florida Work Experience Program First Generation Matching Grant Program Jos Mart Scholarship Challenge Grant Fund Mary McLeod Bethune Scholarship Program Rosewood Family Scholarship Program
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Need-based Aid
Florida Student Assistance Grant
A need-based grant for Florida residents
Enrolled at least part-time in a degree program at a public postsecondary institution, or Enrolled full-time in a degree program at an eligible private postsecondary institution

All Florida residents with EFC below:

5,273 Public Universities & Florida State Colleges 6,080 Private (non-profit institutions) 5,542 Postsecondary (for-profit institutions)
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Need-based Aid
Florida Student Assistance Grant (continued)
2013-14 annual minimum award $200/maximum award $2,610 Apply with postsecondary institution and complete the FAFSA

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Need-based Aid
Florida Public Postsecondary Career Education Student Assistance Grant
A need-based program for Florida residents enrolled at least part-time in a certificate program of at least 450 clock hours (or the equivalent) Enrolled in a Florida State College (community college) or career center operated by a district school board 2013-14 annual minimum award $200/maximum award $2,610 Apply with postsecondary institution and complete the FAFSA
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Need-based Aid
Florida Work Experience Program
Provides work experiences to eligible Florida students to complement and reinforce educational and career goals A need-based program for Florida residents enrolled at least part-time in a degree program at an eligible nonprofit institution Award amount determined by need Apply with postsecondary institution and complete the FAFSA
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Need-based Aid
First Generation Matching Grant
Florida residents attending a state university or Florida State College (community college) whose parents have not earned baccalaureate or higher degrees Award determined by postsecondary institution (funds contingent on matching contributions) Apply via state university or Florida State Colleges and complete the FAFSA

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Need-based Aid
Jos Mart Scholarship Challenge Grant
Highly competitive, need-based merit scholarship for students of Hispanic origin based on highest need and highest GPA 2013-14 award $2,000/year Apply via the Florida Financial Aid Application (FFAA) by April 1 and the FAFSA processed error-free by May 15

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Need-based Aid
Mary McLeod Bethune Scholarship
Need-based merit scholarship for Florida residents who attend Bethune-Cookman University, Edward Waters College, Florida A & M University, and Florida Memorial University 2013-14 award $3,000/year Apply at institutions financial aid office

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Need-based Aid
Rosewood Family Scholarship
Direct descendants of Rosewood families 2013-14 award = tuition and fees up to a maximum award of $4,000/year Apply via FFAA by April 1 Complete the FAFSA processed error-free by May 15

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Merit-based Aid

Florida Bright Futures Scholarship Program

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Merit-based Aid
A merit scholarship based on high school performance in specified course work, test scores, and community service
Florida Academic Scholars award Academic Top Scholars award Florida Medallion Scholars award Florida Gold Seal Vocational Scholars award

Florida Bright Futures Scholarship

Students must apply no later than high school graduation See latest requirements set by Florida Legislature
http://www.FloridaStudentFinancialAid.org/SSFAD/home/latestInfo.htm
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Merit-based Aid
Florida Bright Futures Scholarship (continued)
Award amount based on scholarship and institution type as set by the Florida Legislature in the General Appropriations Act (See award amounts) http://www.FloridaStudentFinancialAid.org/SSFAD/bf/ Apply via the FFAA online at www.FloridaStudentFinancialAid.org (Application opens December 1 and closes August 31)

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Merit-based Aid
Florida Bright Futures Scholarship (continued)
WebEx training provided August through May for high school counselors For registration information, see Help page in the Online Transcript Entry & Evaluation System

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Tuition Assistance/Special Interest

William L. Boyd, IV, Florida Resident Access Grant Access to Better Learning and Education Grant Scholarships for Children & Spouses of Deceased or Disabled Veterans

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Tuition Assistance
William L. Boyd, IV, Florida Resident Access Grant
For Florida residents enrolled full-time in a baccalaureate degree program at eligible private postsecondary institutions 2013-14 award $2,500/year Apply through financial aid office

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Tuition Assistance
Access to Better Learning and Education Grant
For Florida residents enrolled full-time in a baccalaureate degree program at eligible private postsecondary institutions 2013-14 award $1,161/year Apply through financial aid office

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Special Interest
Scholarships for Children/Spouses of Deceased or Disabled Veterans
Dependent children or unremarried spouses of Florida veterans who:
Died as a result of service-connected injuries, diseases, or disabilities Sustained service-connected 100% permanent and total disabilities

Dependent children whose parent is classified as POW or MIA or civilian personnel captured while serving with consent or authorization of U.S. government during wartime Award equal to cost of tuition & fees at a public institution Apply via FFAA by April 1 for priority funding
Flat award at a private institution, equivalent to comparable public

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Web Resources
www.FloridaStudentFinancialAid.org

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Web Resources State Programs Home Page

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Web Resources State Programs Home Page Apply Here

2014-15 Florida Financial Aid Application Open beginning December 1, 2013 Apply one time for consideration of state scholarships and grants Dont forget to read the Before You Begin pages!
Outlines the financial aid process Provides timelines and definitions

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Web Resources State Programs Home Page

Applicant Quick Links
Student Application: 2014-15 Florida Financial Aid Application View Student Financial Aid History:
Scholarship status eligible/ineligible and reasons Hours remaining Disbursement information ISIR information from FAFSA ALL notifications from OSFA will be posted here!

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Web Resources State Programs Home Page

Applicant Quick Links (continued)
Update My Demographics SSN changes, email address, postal address, postsecondary institution Check My Status check the status of an award in progress and check certifications (GPA, test scores)

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Web Resources Bright Futures Home Page

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Web Resources Bright Futures Home Page

Whats New latest legislative updates Administrator Quick Links resources for counselors, comprehensive course table

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Contacts Toll-free 1-888-827-2004

Information & Training Barbara Dombrowski Barbara.Dombrowski@fldoe.org Outreach Team Management Lori Auxier, Director Lori.Auxier@fldoe.org Jan Smith, Manager Jan.Smith@fldoe.org

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Handouts & Materials

To download NT4CM materials, go to https://www.osfaffelp.org/osfatraining/
Choose Documentation and the link for NT4CM 2014-15 Materials

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Questions/Discussion

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THE NEED FOR FINANCIAL LITERACY

Reaching students where they are

DISCONNECT FROM REALITY

Charles Schwab 2011 Teens and Money survey of high school seniors: Students expect to earn $70,000 upon graduation from college Students expect to earn $150,000 once established in their chosen career field

THE GRIM REALITY

Long range planning is Friday. Just get me through this week 52% of Floridians are in liquid asset poverty meaning living paycheck to paycheck
Source: Florida Prosperity Partnership

39 million U.S. adults are unbanked or under-banked

NPA 2012 Report: Profiting from Poverty

Unbanked individuals are known as Walking ATMs and are often crime targets because of the cash they carry

THE GRIM REALITY

43% of US Latino/Hispanic people are unbanked and paying $1,000 -$2,000 in annual fees by using Payday lenders who charge 400% APR
NPA 2012 Report: Profiting from Poverty

Did you know there are more Payday lenders in the U.S. than Star Bucks or McDonalds?

Florida passed statutes specifically authorizing Payday lending. The interest rates and fees that lenders are permitted to charge amount to very large annual percentage rates. The APR for a 14-day, $100 loan is 390%
http://www.credit.com/credit_information/credit_law/PaydayLoanLaws.jsp

FAMILY DYNAMICS
1/3 of parents are more comfortable talking with their children about smoking, drugs, and bullying than about money.
www.Surveyofthestates.com

Empower parents to have the awkward conversation about money www.awkwardconversations.org

HOW CAN COUNSELORS AND MENTORS HELP?

Infuse Financial Education into existing curriculum Incorporate real life materials and scenarios Invite speakers to a Financial Education Day on campus Invest in the process of empowering students as they take control of their financial futures

LOGISTICS
Offer food and prizes: Credit sessions - paper shredders Calculators/office supplies Turbo Tax software Gift cards Make sure other items are in place: Room reserved AV equipment set up Evaluations and handouts ready

MAKE LEARNING FUN

Does this guy need life insurance? Why or why not?

MAKE LEARNING FUN

What about this guy? Why or why not?

Family Projects
Family or Individual Savings Chart: The 52 Week Challenge After 52 weeks, $1,378 will be saved if plan is followed.

MAKE LEARNING FUN

If you took one penny and doubled the amount each day for 30 days, how much money would you have?

MAKE LEARNING FUN

Answer: $5,368,709.12
Is this possible? Not for the average person because the last days of the month are doubling huge amounts of money The takeaway from this lesson? You need to start somewhere! One penny will gain traction as time goes on.

Why are the first three components highlighted? If you can get students to understand and implement the first three, they will be better prepared to take on the last two topics.

COMMON FINANCIAL LITERACY COMPONENTS

Cash Flow/Budgeting Credit: Maintaining good credit Debt Management Risk Management: Insurance Investing & Retirement Planning

Financial Literacy National Standards

NAVIGATING YOUR FINANCIAL FUTURE (NYFF)

Financial Literacy Managing Your Budget Managing Your Credit Repayment of Your Student Loan Debt Financial Aid School and Life Management Career Planning Topics offered as face to face presentations; print materials; and online modules.

www.NavigatingYourFuture.org

Select Workshops Tab on NyFF Home Page

FOCUS ON LEARNING STYLES

The following FREE resources are listed by learning style:

Auditory Visual Kinesthetic (tactile)

AUDITORY
Guest Speakers Community based (bank, credit union) OSFA Outreach Representatives Webinars NyFF audio presentations

www.NavigatingYourFinancialFuture.org

I Tunes University: www.apple.com Podcasts Dave Ramsey: www.daveramsey.com Michele Singletary:

www.npr.org/programs/day/features/color ofmoney/

VISUAL
Guest Speakers Multimedia www.PBS.org/your-life-yourmoney SMART phone apps Printed materials Brochures & handouts

KINESTHETIC
Activity driven hands on Build a budget with actual expenses Balance checking account Meet in computer lab and have students print out their credit reports for review Peer counseling train students to teach other students Role Play identity theft tactics Book club featuring financial topics Websites (see next slide)

 www.Jump$tart.org : Reality Check

HELPFUL WEBSITES

www.FeedThePig.org www.TheMint.org www.PBS.org/Your-life-your-money SMART Investing @ Your Library www.martin.fl.us/portal/page?_pageid=353,444248 8&_dad=portal&_schema=portal Consumer Financial Protection Bureau: www.CFPB.org Federal Trade Commission: www.FTC.gov Council For Economics Education: www.CouncilForEconEd.org 360 degrees of financial literacy: www.360financialliteracy.org

QUESTIONS?

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Conclusion

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Resources
Counselor resources on NT4CM Materials and Resources page: www.fsa4counselors.ed.gov/nt4cm

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Federal Resources
Websites Social Media (Facebook, Twitter, YouTube) Federal Student Aid Information Center (FSAIC)
1.800.4.FED.AID (1.800.433.3243) 1.800.730.89139 (TTY)

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Miscellaneous Resources
Review this section for a variety of websites that contain financial aid resource information for counselors as you assist students and parents Features NASFAA, Ask an Advisor, and a site that translates English financial aid terms into Spanish
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E-mail Communications
E-mails to counselors based on annual financial aid cycle NT4CM will either e-mail you or state coordinator, who will forward messages Questions? Contact state coordinator or email ask.aidawareness@ed.gov, which is strictly for counselors and mentors If parents and/or students have questions, they should e-mail studentaid@ed.gov
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Thank You
We know how important you are to students and their families, and we thank you for everything you do!

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Evaluations
Please take time to complete an evaluation We will use your comments and suggestions to improve future training and outreach efforts

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Final Items
Certificate of completion Continuing Education Report Log Form

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Questions/Discussion

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Provided by:

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