Ayuda Financiera para Maria Martinez

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1 Ayuda Financiera para 2016-17 Maria Martinez
INSTRUCTIONS FOR PPT: Do not read slides verbatim – you will be there for 2 hours. Do not read notes verbatim – you will be there for 3 hours. Slides are packed with details for families’ future reference. Notes are for your background information; read through them so you are comfortable enough to make the presentation your own. WHAT TO EMPHASIZE: College OPTIONS: Educational Partnership – goal is to assist student, families and schools in building a college-going culture. Broadly define college as any education and training beyond high school that leads to a certificate or a degree – community college, trade school or university. Role with financial aid: Keep school counselors informed about changes in financial aid processes Provide training to school counselors Keep our website up to date with financial aid resources for you to use Advise students and families at high schools and in Redding resource center Present at high school based Financial Aid Information Nights in the fall and Cash for College financial aid application workshops in the winter

2 ¿Que es Ayuda Financiera?
Ayuda Donada: Subsidios Becas Basadas en necesidad y/o merito Auto Ayuda: Estudio y Trabajo Prestamos El estudio y trabajo y algunos prestamos son basados en necesidad WHAT TO EMPHASIZE: Some forms of financial aid do not need to be repaid, others do. Financial aid comes from the federal government, the state government, the colleges themselves and private entities (businesses, organizations offering scholarships). Timeline: Fall – apply to colleges (at this point, do not rule out colleges that have a high sticker price) Winter – apply for financial aid/scholarships Spring – get decisions from colleges and financial aid and then make a final decision about where to go NOTES: What is Financial Aid? Various kinds of moneys that help you afford college. Some types of financial aid are based on financial need (if you and your family don’t have a lot of financial resources yourself) and others may simply based on merit (a particular talent/ability you have or your involvement in a particular activity) or simply because you are going to college. GIFT AID: gift aid does not need to be repaid Grants: Grants typically come from the federal or state government from taxes. Why does the government want to use tax money toward financial aid? It is in the best interest of the US to have its members of society be educated and/or trained so that you can be gainfully employed. Additionally, on average, people with higher levels of education (whether it’s a certificate for a skilled trade, a 2-year Associates degree, a 4-year Bachelor’s degree or more) tend to lead longer, healthier lives, lower unemployment rates and have less need for government support programs. Government grants are very carefully regulated and have strict guidelines for who gets what dollars. By using taxpayer dollars for financial aid, the government is investing in you. Grants can also come from colleges themselves. Colleges have their own funds they can use to help students afford college. Grants are based on financial need (if your family doesn’t have much money, you are more likely to receive grants). Grants tend to focus on lower income and middle income students. Scholarships: Scholarships can come from private individuals, businesses, community organizations and foundations. Privately donated scholarships can attach any eligibility criteria they want to those scholarship awards. So, if an organization wants to award a scholarship to a left-handed, flute-playing student from Shasta County who plans to major in Diesel Mechanics at Shasta College, they can do that. Scholarships can also come from colleges themselves. Scholarships can be based on financial need or merit SELF HELP: you either need to work for the money, or eventually pay it back Work-study: Work-study is a specific form of financial aid. The government gives a college campus a limited amount of money to help pay the salaries of students who work on campus. Work-study eligibility is based on need, and some on-campus jobs are limited only to students who have received work-study as part of their financial aid offer. (However, there are other jobs on campus that do not require you to have work-study as part of your financial aid, so there are student job options for all students.) Loans: Some loans are based on financial need, and others are available to any college student. There are also loans that your parent can take out on your behalf.

3 ¿Por Que Aplicar para Ayuda Financiera?
Familias con Ingresos Limitados : Pell Grant (Subsidio): $588 - $5,775/año (6 años máximo) Cal Grant (Subsidio): $1,656- $12, 240/año (4 años max.) BOG fee waiver (Exención de Pago): $1,104/valor anual (3 años max.) Acceso a becas basadas sobre necesidad y merito Acceso a trabajo y estudio (trabajos en el campus) Acceso a prestamos para estudiantes Entre $3,348-$18,015/año en subsidios WHAT TO EMPHASIZE: Limited income students have access to a LOT of financial aid. Never rule out a school because of the “sticker price.” We have local students attending universities like Brown and UCLA and UC Berkeley and they have their costs fully covered through grants and scholarships – no loans.

4 ¿Por Que Aplicar por Ayuda Financiera?
Familias de Ingreso Medio: Cal Grant (subsidio): $5,472 - $12, 240/año (4 años max.) CA Middle Class Scholarship (beca): 10-40% de la matriculación de CSU o UC BOG fee waiver (exención): $1,104/valor anual (3 años max) Acceso a becas de necesidad y merito Acceso a prestamos para estudiantes Crédito sobre ingresos Entre $547 - $12,240/año en subsidios WHAT TO EMPHASIZE: Middle income families have access to free aid as well. Many middle income families benefit from the Cal Grant which pays for at a CSU or UC campus or provides around $9,000 toward tuition at a private CA university. There is also the Middle Class Scholarship available through the State of California for students attending CSU and UC campuses and coming from families with an income less than $150,000. That pays for a portion of the CSU or UC fees; amount varies according to family income.

5 ¿Por Que Aplicar para Ayuda Financiera?
Familias de Altos Ingresos: CA Middle Class Scholarship (Beca): 10-40% de la matriculación de CSU o UC (ingreso familiar hasta $150,000) Acceso a becas basadas en merito Ejemplo: Cal Poly San Luis Obispo Acceso a prestamos para estudiantes Crédito sobre ingresos Seguro GRATUITO– la vida puede cambiar entre los meses de enero al verano, antes de que su estudiante se vaya al colegio Solo toma 30 minutos para llenar la solicitud WHAT TO EMPHASIZE: Merit scholarships: Cal Poly San Luis Obispo requires ALL students who want to be considered for ANY scholarship from Cal Poly (whether based on need or not) to submit a financial aid application Student loan interest rate may be lower than the rate at which your assets are earning money – let your money keep making money. FREE insurance – every year we have families coming to see us in late spring and life has changed. Business loss, job loss, separation or divorce – if the financial aid application was submitted, the financial aid office can do what they can to help. Bottom line: it takes about 30 minutes to fill out. Skip one TV show and fill out the application.

6 Beca de California de la Clase Media
Cuanto pueden recibir los estudiantes? Hasta el 40% de la cuota de matriculación si los ingresos familiares no son mas de $100,000 No recibirán menos del 10% de la cuota de matriculación si los ingresos de familia están entre $100,001 and $150,000 Someta la FAFSA (o la solicitud CA DREAM) antes del 2 de Marzo Mas información: WHAT TO EMPHASIZE: Families with an income of $150,000 are considered for the Middle Class Scholarship if the student will attend a CSU or a UC. More details online at the website indicated. All you have to do is submit the FAFSA (or the CA DREAM application) between January 1st – March 2nd.

7 Tipos de Solicitudes FAFSA (Ciudadanos Americanos o Residentes Permanentes) Solicitud California DREAM Act (para estudiantes AB540) Otras solicitudes o formas requeridas del colegio como: FAFSA: federal form, used by US Citizens and Permanent Residents to access fullest range of financial aid CA DREAM Application: used by AB540 students to access aid from state of California CSS Profile – used by many private colleges, a very small number of out of state public colleges and some scholarship programs. It collects more information than the FAFSA. Institutional scholarship and/or financial aid applications: check with each college you are considering to review what applications you need for aid and scholarships. 2015 Income taxes: if you are required to file income taxes, please try to file taxes as early as possible. You can file your financial aid applications using estimated information, but as soon as taxes are completed, you will need to log back in and make corrections according to your finalized taxes. CSS/Perfil Financiero Beca Institucional y/o Solicitud de Ayuda Financiera 2015 transcripción de impuestos federales, o otros documentos de ingresos (puede usar la información del 2014 para iniciar la solicitud)

8 ¿Que Necesitara para llenar la FAFSA?
Si eres estudiante dependiente, entonces también necesitaras la información de tu(s) padre(s). Estudiante y al menos uno de los padres necesitan crean un credencial de (FSA) Federal Student Aid ID Numero de Seguro Social Numero de Residente (si no es Ciudadano Americano) Impuestos mas recientes, W-2, y otros registros de ingresos adicionales, si tiene. (Nota: Existe la posibilidad de que pueda transferir sus datos de los impuestos federales a sus FAFSA usando el “IRS Data Retrieval Tool” = Herramienta de Consulta y traspaso de datos del IRS.) Cuentas bancarias y registro de inversiones (si es aplicable) Registros de ingresos libres de impuestos (si es aplicable) What to Emphasize: Students and parents do NOT have to have 2015 taxes completed in order to fill out the FAFSA. They can ESTIMATE using last year’s taxes to submit as early as possible (BEFORE MARCH 2) and update (“make corrections”) the FAFSA after taxes are done. No need to read the list – just point out that filling out the FAFSA will go much more smoothly if they collect these documents BEFORE they sit down to fill out the FAFSA.

9 Cambios para la FAFSA del 2017-18
Solo es información para el año que viene La FAFSA estará disponible el 1 de octubre, 2016 Todavía se tiene que entregar para el 2 de Marzo, 2017 para ser considerado para el subsidio de California (Cal Grant) Se usara la información de ingresos del 2015

10 FAFSA – Solicitud Gratuita de Ayuda Federal para Estudiantes
Fafsa.gov “Orientación y Consejos” hacen la solicitud mas fácil Herramienta de Consulta y Traspaso de datos del IRS 1 Octubre – 2 Marzo WHAT TO EMPHASIZE: FAFSA stands for FREE Application for Federal Student Aid. Information from the application is forwarded to the colleges the student lists on the application. Financial Aid offices determine what kind and how much aid student will receive. The FAFSA is overall a pretty straightforward application if you pay attention to the “Help and Hints” feature. You can import information from the IRS into the FAFSA by using the IRS Data Retrieval Tool.

11 ¿Cual es la Contribución de Familia Esperada (EFC)?
Un índice creado por la FAFSA para ayudar a la oficina de Ayuda Financiera determinar su elegibilidad para recibir ayuda Diferente para cada estudiante Se mantiene igual sin importar el colegio WHAT TO EMPHASIZE: The EFC is an index created by the FAFSA to help the Financial Aid office determine your eligibility for aid Once upon a time, it really was the amount the Federal government expected the family to contribute to the student’s college costs in the upcoming year. Today, a family can expect to provide the amount indicated by the EFC and possibly more. The EFC is completely unique for each student – can be zero, can be 158, can be 2,590, can be 36,742 The lower your EFC, the more grant aid you can access. NOTES: The EFC is calculated from data entered into the FAFSA or CA DREAM Application (parent income and assets, students income and assets, number of people in the household, number of college students in the household and other factors); the actual calculation is literally pages long. The EFC is unique for each student. One student may have an EFC of $1,843, another student may have an EFC of $4,289, and a third may have an EFC of $0. The EFC will be different for every student and can change from year to year (can be higher or lower depending on the data entered into the FAFSA each year). Your EFC stays the same regardless of which college you have applied to for that academic year. If your EFC is $467, it will be $467 for Shasta College, it will be $467 for Chico State and it will be $467 for Universal Technical Institute.

12 Utilizando un Estimador para el EFC
Para ver que seria el EFC antes de llenar la FAFSA Dos estimadores buenos: ECMC EFC Estimator: FAFSA Forecaster: What to Emphasize: Before filling out an actual FAFSA, families can use an EFC Estimator Calculator Allows you to see how various assets or household information will potentially affect EFC and financial aid eligibility Two good ones: ECMC FAFSA Forecaster

13 ¿Que es el Costo de Asistencia *(COA)?
Cinco componentes: Matrícula y cuotas Alojamiento Libros y provisiones Transportación Gastos personales “Cargos Directos” Pagos al colegio para la matriculación, cuotas, y alojamiento (si vive en el campus) “Cargos Indirectos” El estudiante decide cuanto gasta en libros y provisiones, transportación y gastos personales, (alojamiento si vive fuera del campus) COA es diferente en CADA colegio WHAT TO EMPHASIZE: You should be able to find this information on every college’s website on the college’s financial aid webpage. If you can’t find it, ask your high school counselor for help. Important to note that sometimes a college will use the term “Student Budget” instead of “Cost of Attendance”, but COA is more common. Do briefly list each component. NOTES: Five components Tuition and Fees: what you pay for taking classes and for campus services (advising, recreation facilities, the health center, etc.) Room and Board: your housing and your food Books and Supplies: textbooks, pens, paper, scrantrons, etc Transportation: either to and from campus if living at home or off-campus, or to and from home if living on-campus Personal Expenses: personal hygiene, laundry, cell phone, medical/dental expenses, small amount for entertainment and daily living DIRECT Expenses: expenses paid directly to the college or university (like tuition/fees and room/board – if living on campus) INDIRECT Expenses: not paid to the college; you spend money on these items as you need to (books/supplies, transportation and personal expenses) The Cost of Attendance is different for EVERY college, and each college has a different Cost of Attendance depending on your housing choice (with parents, off-campus, or on-campus) It’s important to note that you have a LOT of control over how you actually spend on INDIRECT expenses; if you are careful and frugal, you can spend less than what the college estimates you will need and so your overall personalized Cost of Attendance will be lower than the college’s estimated average COA.

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15 ¿Que es Necesidad Financiera?
Formula Básica: Costo de Asistencia - Contribución Esperada de Familia = Necesidad Financiera WHAT TO EMPHASIZE: After you submit the FAFSA (and any other documentation the college may ask you to submit), the Financial Aid office at each college will compare the college’s Cost of Attendance (based on your housing option) to your Expected Family Contribution and they will determine your Financial Need. Your Financial Need will be DIFFERENT at each college, because the Cost of Attendance is different at each college. A student cannot receive more financial aid than their Financial Need. The Financial Aid Office at each college you applied to will then look at various forms of financial aid and try to fill “your bucket” so that you have as much financial aid that you qualify for to help you go to college.

16 Oferta de Ayuda Financiera
Después que la Oficina de Ayuda Financiera ha determinado la Necesidad Financiera, crean una Oferta de Ayuda Financiera Evalúan la elegibilidad del estudiante para todo tipo de ayuda financiera (subsidio, estudio y trabajo, becas y prestamos) Comunican la oferta mediante una “carta”( ya sea en papel o electrónicamente por medio del “portal" del estudiante) La oferta se llama “Financial Aid Package” Si el estudiante es seleccionado para “Verificación” el estudiante TIENE que someter documentos adicionales antes de que la institución crea una oferta de ayuda financiera WHAT TO EMPHASIZE: It is the financial aid office that does the final determination of what kind of aid and how much the student will receive. This will be communicated either in a paper letter mailed to the student (not as common now) or it will be posted to the student’s online college portal. Students set up a portal for each campus they apply to. Financial Aid Awards usually come out in mid-March, early April. Before creating a Financial Aid Award, the student may be selected for a process called Verification and may be required to submit additional documents to the Financial Aid Office to verify FAFSA information.

17 Como Abordar la Necesidad Insatisfecha y el EFC:
Trabajo de estudiante: programa de estudio y trabajo o trabajo fuera del campus Presupuesto: comida, gasolina, ahorro de seguro en la casa mientras el estudiante esta en el colegio Ingreso Actual ¿puede aumentar? Crédito de Impuestos para educación Recursos de familia: Ahorros, vender los bienes, hipotecas secundarias, tarjetas de crédito, etc. Otros prestamos gubernamentales para estudiantes (PLUS Loan) Prestamos directos-al-consumidor: Puede afectar la elegibilidad futura de ayuda financiera Siempre hable con el departamento de ayuda financiera WHAT TO EMPHASIZE: How does a family come up with the EFC and meet any unmet need? Various strategies: Most importantly – just because a college states that the estimated Cost of Attendance is a certain amount, does NOT mean that your student will need that much. Frugal students spend less on books, housing, food, transportation and personal expenses and can shave thousands off the cost of college. Re-evaluate the family’s spending habits. If your student is going away to college realize that you will have some savings at home – food and utility bills will go down.

18 Reduciendo el Costo de Colegio
¿Recuerda las partes de “Costo Indirecto”? Libros y Provisiones Libros usados, rentados, o prestados de la biblioteca Alojamiento y Comida Compañero de cuarto (o dos) Transportación OLVIDE EL CARRO – bicicleta, caminar o usar el autobús Gastos Personales Compre marcas generales Comprar ropa de segunda mano Encuentre entrenamiento gratis WHAT TO EMPHASIZE: There are parts of the Cost of Attendance that you have a LOT of control over. Take on an extra roommate (can triple up in the dorms or in an apartment). Use a bike or public transportation instead of a car.

19 Circunstancias Especiales y Juicio Professional
Las oficinas de Ayuda Financiera de los colegios tienen la habilidad de recalcular su EFC basándose en dificultades significativas o nueva información Ejemplos: Reducción significante de ingresos/perdida de trabajo Fallecimiento Abuso Divorcio/Separación Liquidación de ingresos en solo una ocasión El estudiante se casa WHAT TO EMPHASIZE: Life happens. If your family experiences a major change in income/assets due to a life change, talk to the Financial Aid Office at the college as soon as possible.

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21 Estudiantes Indocumentados
Los que han asistido y han graduado de una preparatoria de California pueden ser elegibles para AB 540 y no tienen que pagar la matrícula de no- residentes; Los estudiantes con muy buenas calificaciones/puntos quienes son elegibles para el AB 540 pueden calificar para becas del campus (consulten en el campus donde se inscriben) Todos los otros estudiantes indocumentados que no califican para AB540 serán cargados como residentes fuera del estado de California y no serán elegibles para ayuda financiera del estado o gobierno federal.

22 Becas para Estudiantes de AB540
La nueva ley de California (AB 130) permite que todos los estudiantes AB 540 puedan ser considerados para unas becas privadas en instituciones públicas AB 130 solo afecta estudiantes elegibles para AB 540 Los estudiantes de AB 540 pueden ser considerados para becas derivados de donacaiones privadas Los estudiantes deben aplicar en el campus Los estudiantes se califican para becas basado en las normas del campus de mérito y necesidad

23 Como Obtener Becas para estudiantes de AB540
El estudiante tiene que llenar y entregar: El Formulario de Peticion de Exencion de Matricula de No-Residentes de California o “Afidavit” te permite ser catalogado oficialmente como un estudiante AB540 La solicitud Dream visitando la pagina Los datos entregado bajo la ley AB540, AB 130 y AB131 no son compartidos con las bases de datos federales. Son protegidos pos las mismas leyes de privacidad y seguridad de datos y protecciones que reciben tolos los solicitantes de la beca Cal-Grant.

24 Ciclo de Ayuda Financiera “Llenar el Balde”
Aplique antes de la fecha limite estatal Contribución Esperada de Familia (EFC) Costo de Asistencia (COA) FA paga las cuentas al colegio; rembolso al estudiante Ciclo de Ayuda Financiera “Llenar el Balde” WHAT TO EMPHASIZE: Applying is the first step. Run through the cycle. Reassure the audience that we will discuss each term and process. The same cycle is followed for AB540 students filling out the CA DREAM Application. NOTES: Step 1: FAFSA Online at (fafsa.com is now owned by the Department of Education and will direct students to the official FAFSA) Submit between January 1 – March 2 (EVERY year) Better to estimate amounts using prior year’s taxes and submit by deadline; make corrections immediately after taxes are done Step 2: Expected Family Contribution FAFSA calculates the EFC Step 3: Cost of Attendance Each school has their own unique cost of attendance (also called “Student Budget”) May be several different Costs of Attendance (living at home, living on campus, living off campus) Costs include Tuition/Fees Books/Supplies Housing/Food Personal Expenses (may include a computer allowance at some schools) Transportation Step 4: FAFSA information sent to college’s financial aid office Cost of Attendance – Expected Family Contribution = Financial Need Step 5: Verification and Corrections Verification: student is randomly selected FAFSA – student and parent(s) must additional documentation Corrections: if student and/or parent estimated information on the FAFSA, MUST make corrections prior to final awarding Step 6: Meeting the Need “Filling the Bucket” College’s financial aid office reviews student’s FAFSA information and EFC and determines what (if any) need based aid the student qualifies for In order: Expected Family Contribution Federal Grants State Grants Institutional Grants/scholarships Federal Workstudy Outside scholarships (if they already have this info) Loans Step 7: Financial Aid Offer Letter Will be electronically communicated to student through the online college portal Communicates the specifics about how the need is met (how the bucket is filled) Step 8: Financial Aid pays direct charges to the university (tuition/fees, housing – if student is living on-campus). Any financial aid money left after direct charges are paid gets paid to the student. Step 9: Do it all over again EVERY year COA-EFC=Necesidad “VERIFICACIÓN” y CORRECCIONES Satisfacer la Necesidad (“llenar el Balde”) Oferta de Ayuda Financiera (FA)

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28 Estén Listos para el Correo Electrónico
Agencias federales y estatales les mandaran un correo electrónico sobre tu ayuda financiera Agrega los correos electrónicos de estas agencias en tus “contactos” para que los mensajes no terminen en tu correo de basura LEE TU CORREO ELECTRÓNICO

29 Para mas información Sitios importantes:
(Federal grants, Work-Study, Loans) (Cal Grant, Chafee, Middle Class Scholarship, CA DREAM Application) (BOG fee waiver for community colleges) WHAT TO EMPHASIZE: This is the start of the information. Huge amount of detail out there. The first three sites are the definitive sources for information. College OPTIONS has a lot of resources and tools (including this complete PowerPoint with all the notes) that you can download and review.

30 Preguntas? El ir al Colegio no es un Sueño…Es un PLAN!
Consejero(a) de la High School Oficina de Ayuda Financiera de los Colegios Noches de información sobre Ayuda Financiera en su escuela durante Noviembre/Diciembre Talleres de Cash for College en su escuela en Enero/Febrero El ir al Colegio no es un Sueño…Es un PLAN! WHAT TO EMPHASIZE: We will have updated information at your high school’s Financial Aid Information Night in November/December. We will have hands-on help for you in filling out the actual application in January/February at the Cash for College workshops at high schools. If you have a question, ASK THE QUESTION.