Slide 1

Free Application for Federal
Student Aid
Mary Anne Hunter
College Access Team
CO Dept. of Higher Education
College Access Team
• The College Access Team helps families break down the
financial barriers to college.
• Colorado Department of Higher Education
• Funded by a Federal College Access Challenge Grant
• 700+ financial aid, scholarship, FAFSA and financial
education workshops
Dependent – vs – Independent
…use parents income/asset info.
Can student answer “Yes” to any of the following….
• Were you born before January 1, 1988?
• As of today, are you married?
• At the beginning of the 2011-2012 school year, will you be working
on a master's or doctorate program?
• Are you currently serving on active duty in the U.S. Armed Forces
for purposes other than training?
• Are you a veteran of the U.S. Armed Forces?
• Do you have children who will receive more than half of their
support from you between July 1, 2011, and June 30, 2012?
• Do you have dependents (other than your children or spouse) who
live with you and who receive more than half of their support from
you, now and through June 30, 2012?
Special Population Independence
By Choice - Special Circumstance
Documents/Information Needed
For the 2011-2012 school year you will need financial information from 2010. You will need to
refer to:
Student’s & Parents’ Social Security Numbers. Be sure it is correct!
Student’s alien registration or permanent resident card (if you are not a U.S.
Student’s driver's license (if any)
Student’s & Parents’ 2010 W-2 Forms and other records of money earned
Student’s & Parents’ 2010 Federal Income Tax Return - IRS 1040, 1040A, 1040 EZ
Foreign Tax Return, or Tax Return for Puerto Rico, Guam, American Samoa, the U.S.
Virgin Islands, the Marshall Islands, the Federal States of Micronesia, or Palau
Student’s & Parents’ 2010 untaxed income records
Veterans noneducation benefit records
Child support received
Worker's compensation
Student’s & Parents’ current bank statements
Student’s & Parents’ current business and investment mortgage information,
business and farm records, stock, bond and other investment records
Taxes & Untaxed Income
NEW – IRS Matching Option
NEW – IRS Matching Option
Merging Tax info verification
Merged Tax info to FAFSA
Merge confirmation
Savings & Investments
Investments to Include and Exclude
 Real estate (do not include
the home
you live in)
 Trust funds
 Uniform Gifts/Transfers to Minors Act
Accounts (UGMAs /UTMAs) – unless you are
just the custodian, not the owner
 Money market funds
 Mutual funds
Certificates of deposit
Stocks, stock options, bonds & other
Installment and land sale contracts
(including mortgages held)
Qualified educational benefits or
education savings accounts (e.g.
Coverdell savings accounts, 529
college savings plans and the refund
value of 529 prepaid tuition plans)
- The home you live in
- Value of life insurance
- Retirement plans (401[k] plans, pension funds,
annuities, non-education IRAs, Keogh plans,
- Cash, savings and checking accounts already
- *Business value does not include the value
of a small business if your family owns
and controls more than 50 percent of
the business and the business has 100
or fewer full-time or full-time
equivalent employees.
- Investment farm value does not include
the value of a family farm that you
live on and operate.
*Business and/or investment farm value includes:
the market value of land, buildings, machinery,
equipment, inventory, etc. Business and/or investment
farm debt means only those debts for which the business
or investment farm was used as collateral.
Frequent FAFSA Errors
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
Assets & investment – realestate
FAFSA Processing Results
• CPS notifies student of FAFSA processing
results by:
– E-mail notification containing a direct link to
student’s electronic SAR if student’s e-mail was
provided on paper or electronic FAFSA
• Student with PIN may view SAR on-line at
Sample Student Aid Report (SAR)
Helpful Tools
FAFSA 4Caster
See what your EFC might look like
Types of federal financial aid & the process
College In Colorado
Western Undergraduate Exchange Program (WUE)
FAFSA Recommended/Priority Deadlines
February 15
Colorado College
Fort Lewis College
March 31
Colorado Mountain College
Red Rocks Community College
March 1
Colorado Christian University
Colorado State University
Colorado State University-Pueblo
Front Range Community College
Johnson & Wales University
Mesa State College
Metropolitan State College of Denver
Naropa University
Northeastern Junior College
Regis University
College of Art & Design
University of Colorado Denver
University of Denver
University of Northern Colorado
April 1
University of Colorado at Boulder
University of Colorado at Colorado Springs
Western State College of Colorado
Colorado School of Mines
Lamar Community College
Morgan Community College
March 15
Pueblo Community College
United States Air Force Academy
June 30
Pikes Peak Community College
Trinidad State Junior College
April 15
Community College of Denver
May 1
Arapahoe Community College
Colorado Northwestern Community College
Community College of Aurora
Financial Need
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
= Financial Need
EFC Remains Constant
Four Year
Four Year
COA (variable)
EFC (fixed)
Need (variable)
The Financial Aid Process
FAFSA to Processor
Aid Office
Student Aid Report (SAR)
Check if accepted
for Admission
Requested documents/
Accept Award Package
Financial Aid Award
The College Access Scholarship
250 scholarships valued up to $2,500 each will be offered to eligible students to use toward their
2011-12 higher education expenses (more than $600,000)
Eligible recipients must:
Attend college at least part-time for the 2011-12 school year as a degree-seeking undergraduate
student (eligible part-time students will receive up to $1,250)
Complete the 2011-12 Free Application for Federal Student Aid (FAFSA) at
Qualify for the Federal Pell Grant - eligibility is based on the results of the FAFSA – students will be
notified of eligibility on the FAFSA confirmation page and their Student Aid Report (SAR)
Complete all ten Education Cents financial education courses at
Complete The College Access Scholarship at
Submit their Student Aid Report (SAR) to verify the Expected Family Contribution (EFC)
Application Deadline is June 30, 2011. Potentially eligible students and alternates will be notified between July 15
and August 1, 2011.
Non-renewable (for 2011-12 school year only)
Final eligibility will be determined by student’s college/university in partnership w/Colorado
Department of Higher Education’s College Access Team

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