fa basics
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FA Basics. FA Basics. Today we will cover the following: Cost of Attendance Basic Packaging Student Eligibility. Cost of Attendance. Cost of Attendance. Should reflect what the student may spend for college in an academic year. Used to determine eligibility for federal student aid. - PowerPoint PPT PresentationTRANSCRIPT
FA Basics
FA Basics
Today we will cover the following: Cost of Attendance Basic Packaging Student Eligibility
Cost of Attendance
Cost of Attendance
Should reflect what the student may spend for college in an academic year.
Used to determine eligibility for federal student aid.
Pell Cost of Attendance – 2 Semesters/900 clock hours.
Total Cost of Attendance.
Cost of Attendance
Basic components of COA: Tuition and Fees Books, supplies, miscellaneous personal
expenses, transportation Can include an allowance for the purchase (or
rental) of a computer. Room and Board
Cost of Attendance
Other allowances Study abroad expenses Educational loan fees Dependent Care expenses Disability related expenses Cooperative education program expenses First professional credential cost
Cost of Attendance
Tuition and Fees May use actual tuition cost or an average Must do the same for all students within an
established category. Overall average must be a weighted average. Fees may be included if it is necessary for the
student’s program or if required of all students or all students in an established category.
Cost of Attendance
Books, Supplies, Transportation, Miscellaneous Personal Expenses Books & Supplies: can use a single allowance,
or allowances for different categories Computer allowance
Transportation: the allowance must be reasonable
Misc. Personal Expenses: should enable a reasonable standard of living
Cost of Attendance
Room and Board Living with parents Living on campus Living off campus
Cannot include expenses of other members of the household.
Packaging
Packaging
Cost of Attendance - Expected Family Contribution = Need
Packaging
Need based packaging:Cost of Attendance
- Expected Family Contribution - Federal Pell Grant - Estimated Financial Assistance = Remaining need for need based aid
Packaging
Non-need based packagingCost of Attendance
- Federal Pell Grant - Other aid already awarded - Estimated Financial Assistance = Remaining need for non-need based aid (unsubsidized Stafford & PLUS)
Packaging
Goal: to provide sufficient resources to meet COA.
Set realistic self-help aid (such as loans and employment) expectations
Distribute resources across student population fairly and equitably
Recruit and retain students
Packaging
Must make funds reasonably available to all eligible students.
School may prioritize packaging categories
Student Eligibility
Student Eligibility
Enrolled as a regular student in an eligible program at an eligible institution.
Have a high school diploma or equivalent, or: complete a home school program and meet state
requirements if starting college before July 1, 2012 may pass an
approved ability to benefit test or successfully complete 6 credit hours.
Student Eligibility
If male, be registered with Selective Service (some exceptions apply)
Be a U.S Citizen or eligible non-citizen: Permanent resident Conditional permanent resident Have an I-94 showing one of the following:
Refugee Asylum Granted Parolee (for a minimum of one year, and not expired) T-Visa holder Cuban-Haitian entrant
Letter from DHS showing “Victim of Human Trafficking”
Student Eligibility
Not be in default on a Title IV loan or owe an overpayment on a grant or loan.
Cannot have borrowed over annual or aggregate loan limits.
Maintain Satisfactory Academic Progress (SAP)
Not have a drug conviction (see requirements)
Student Eligibility
When the FAFSA is processed CPS confirms eligibility with: Social Security Administration (SSA) National Student Loan Data System (NSLDS) Selective Service Department of Homeland Security (DHS) Department of Veterans Affairs (VA) Department of Defense Department of Justice
Student Eligibility
SSA Confirms student (and parents’) social, name and date
of birth That social does not belong to a deceased person Confirms if student is a U.S. Citizen
If this is not confirmed then the student needs to provide proof of U.S. citizenship and should be encouraged to update this with SSA.
NSLDS Aggregate and annual loan limits Defaults Overpayments
Student Eligibility
DHS Confirms whether or not the student is an
eligible non-citizen. If not confirmed then the student needs to
bring in documentation showing status (such as a permanent resident card or I-94).
A copy must be made and mailed to USCIS for a manual secondary confirmation of status.
If not confirmed then the student does not qualify for aid.
Application Issues
Household SizeNumber in CollegeIndependent vs Dependent
Marital Status Legal Guardianship/Orphan/Emancipated
minor/Foster Care Homeless Veteran Active Duty Dependents
Divorce
Questions?
Resources
www.ifap.ed.gov Federal Student Aid Handbook
Application and Verification Guide Dear Colleague Letters
Colleagues in UASFAA – networking is an essential part of working in financial aid!!!
RMASFAA – Summer InstituteNASFAA – AskRegsGoogle It!!!