monticello high school 1/9/2012 applying for financial aid walking through the fafsa, 2012-2013
TRANSCRIPT
![Page 1: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/1.jpg)
Monticello High School 1/9/2012
Applying for Financial Aid Walking through the FAFSA, 2012-2013
![Page 2: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/2.jpg)
Today’s Agenda
The Application Process
What is Financial Aid
Special Circumstances
Tips and Resources
Questions
![Page 3: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/3.jpg)
The Application Process
![Page 4: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/4.jpg)
How do I apply for financial aid?
![Page 5: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/5.jpg)
FAFSA on the Webwww.fafsa.ed.gov
![Page 6: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/6.jpg)
CSS/Financial aid PROFILE
www.collegeboard.org
![Page 7: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/7.jpg)
Information collected on the applications
Student and parent demographicsInformation from 2011 federal tax returnInformation from 2011 W-2 formsUntaxed income Number in household and number in
collegeAssets and investments
![Page 8: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/8.jpg)
Determining Financial Need The FAFSA, CSS Profile and
other documents are used to determine your Expected Family Contribution (EFC).
Schools uses your EFC to determine eligibility for need-based financial aid and to prepare an award package.
Cost of Attendance less EFC = Financial Need.
![Page 9: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/9.jpg)
Cost of Attendance
http://www.virginia.edu/financialaid/estimated.php
![Page 10: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/10.jpg)
What is financial aid?
![Page 11: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/11.jpg)
Financial aid is…
Funds provided to students & families to help pay for postsecondary educational expenses. These include:
![Page 12: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/12.jpg)
Scholarships
School Scholarships Private and Community Scholarships
![Page 13: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/13.jpg)
Loans Money that has to be repaid – usually not
until after the student graduates
![Page 14: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/14.jpg)
Need-based award that provides an opportunity to work at your school and earn money to help pay for educational expenses.
Work Study
![Page 15: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/15.jpg)
Grants
Need-based money awarded by colleges and universities.
institutional
state
federal
![Page 16: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/16.jpg)
![Page 17: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/17.jpg)
TIPS & RESOURCES
![Page 18: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/18.jpg)
Common Errors on the FAFSA Parent and student social security numbers Divorced/remarried parental information Not including income earned by stepparents Not reporting untaxed income Reporting parent income in the student section Household size and number in college Real estate and investment net worth
Including retirement accounts in investment net worth Including the value of primary residence in investment net worth
Student dependency questions Use the scrolling “Help and Hints” on the side of www.fafsa.gov to
make sure information is correct.
![Page 19: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/19.jpg)
Keep in mind
SSN on admission application Name, SSN, DOB mismatch Monitor requests for additional
information from schools for requests for information
Don’t wait until the last day Meet deadlines
![Page 20: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/20.jpg)
Websites
![Page 21: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/21.jpg)
![Page 22: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/22.jpg)
Net Price Calculator
![Page 23: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/23.jpg)
![Page 24: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/24.jpg)
UVa financial aid timeline
![Page 25: Monticello High School 1/9/2012 Applying for Financial Aid Walking through the FAFSA, 2012-2013](https://reader036.vdocuments.us/reader036/viewer/2022070403/56649f295503460f94c42d11/html5/thumbnails/25.jpg)
THANK YOU