Financial Aid Information Night Highlights
Highlights from the Financial Aid Information Night held January 14, 2016
FAFSA—Federal Application for Federal Student Aid—www.fafsa.gov
FSA ID: Replaced the PIN
- The FSA ID (username and password) now replaces the PIN for students, parents and borrowers accessing FSA systems.
- The FSA ID
- ▫Provides more secure access to user’s information
- ▫Links to PIN information during registration
- ▫Offers self–service capability (name change)
- What happens for new users?
- ▫Registration requests same required information as PIN
- ▫New users will be directed to the registration page to create an FSA ID (username and password) similar to today’s PIN creation page
- What happens if I have a PIN already?
- ▫During account creation, user will be asked for their PIN.
- ▫As long as the PIN information matches their other information, the account will be linked to the FSA ID account
- Will the changes affect a user’s ability to access previous FAFSA submissions?
- ▫If the user links their PIN, they will have access to previous FAFSA submissions
Where can I find funding sources:
- Pell Grants – Based on EFC
- ▫Automatic with eligibility
- ▫Range from $290 to $5,775 for 2015-2016
- FSEOG
- ▫Supplemental grant for the neediest of students
- ▫Based on availability
- TEACH Grant
- ▫For those planning to teach in high-need fields
- ▫Agreement to Serve
- Kansas Comprehensive Grant
- ▫Determined by the KS Legislators
- ▫Available at 4-year Colleges & Universities
- ▫Based on availability
- Federal Work Study
- ▫Federal dollars paid in exchange for part-time employment in designated jobs
- ▫School comes first
- Federal Direct Loans
- ▫Subsidized
- ▫Unsubsidized
- ▫Parent/Grad PLUS Loans
- Private/Alternative Loans
- ▫Exhaust federal aid options first
New Timeline for Filing the FAFSA!
Especially by using the IRS Data Retrieval Tool (DRT)
How many schools (colleges) can I select to receive my FAFSA information?
- Students can select up to 10 colleges to receive their FAFSA results
What happens after I submit my FAFSA information?
- A summary of your application is created for your review & sent to your selected schools electronically
- ▫Summary is called a Student Aid Report (SAR)
- ▫Students with FSA IDs may view SAR online at www.fafsa.gov
- If schools require further information or documentation, they will contact the student directly
- ▫Make sure students know how each school communicates with them
Watch for award notifications