Financial Aid Application Process for 2011-2012

Presented by…

The HUB Assistant Directors

Spring 2011

Presentation Purpose

• To highlight what is the same and different about the financial aid application for 2011-12

• To ensure that CMU students know resources and who to contact

Undergraduate Financial Aid Basics• Students must complete the application process in order to be

considered to receive financial assistance.

• Most undergraduates are “dependent” students and will need to involve their parents.

• After the application process is completed, students receive a financial aid award letter.

Overview: Application Process

• Where to Start: 2010 Tax Returns & W2s

• FAFSA

• CSS PROFILE

• IDOC

• Attestations

• Summary of Changes

• Other Important Topics

• Questions

Application Process Comparison2010-11 2011-12

2009 Tax Returns 2010 Tax Returns

FAFSA 2010-2011 FAFSA 2011-2012

Carnegie Mellon Application (Online)

CSS PROFILE

Tax Documents to The HUB or Undergraduate Admissions

Tax Documents to IDOC

Student W2 forms (not required) Student W2 forms (required)

Signature Page – Submitted to The HUB with CMU Application

Financial Aid Attestations and Permissions completed in SIO

Noncustodial Parent Information Form to The HUB (divorced and separated parents)

Noncustodial Parent Information Form with IDOC materials (divorced and separated parents)

Step 1: Gather Important Information

• Student & parent 2010 signed federal tax returns

• Student & parent Wage Tax Statements (all W2’s, 1099’s)

• Self-employed or business/farm owner? (schedules)

• Parent housing status (i.e. own, rent)

• Personal Information including student’s Social Security #

• Other information…..

Step 2: FAFSA

Note: Heinz or Tepper School graduate students use unique codes on the FAFSA; all others use the CMU code 003242

• Complete FAFSA at www.fafsa.gov

• Carnegie Mellon University Code - 003242

• Get pin at www.pin.ed.gov

Step 3: NEW CSS PROFILE

• Online application to be considered for institutional aid funds

• Complete PROFILE at https://profileonline.collegeboard.com

• Used by Undergraduate Admissions and most peer institutions

• Questions? Contact Customer Service Support at 305-829-9793 (8 a.m. to 10 p.m., Monday thru Friday, January – April)

• FAQs at http://www.cmu.edu/finaid/undergraduate/css-faq.html

CSS Profile: 3-step Process

1. Register• Tailored to student’s family situation• Based on registration answers, some CMU-specific questions

2. Complete • Customized pre-application worksheet and instructions• Online help • CSS Profile has “smart” features to minimize mistakes

3. Submit • Date & time

1. Fee• Application fee of $9 plus $16 for each college = $25• Pay by credit card (VISA or MasterCard), debit card or

online check

2. Acknowledgement• Record of payment• Provides next steps• Print copy

CSS Profile: Fee & Acknowledgement

Note: Last day to file 2011-12 PROFILE is January 17, 2012

Step 4: IDOC1. What is IDOC?• Institutional Documentation Service (IDOC) • Purpose: collection of all tax documents and required

supplemental forms (ex: CMU’s NCPC form)2. Instructions• College Board sends email to student • IDOC Cover Sheet is electronic and available on the

IDOC website, https://PROFILEonline.college.collegeboard.com

• Student will use personal info to access IDOC cover sheet

Note: Mail one complete packet with cover sheet to IDOC by April 18, 2011 (priority deadline)

• FAQs for CSS Profile on the web

Step 5: Attestations• Log onto Student Information Online (SIO)

(www.cmu.edu/hub/sio) using student Andrew ID & password

• Hover over ‘Finances’ and click on ‘Financial Aid Status/Award’ (be sure Aid Year 2011-2012 is selected)

• Under the ‘Miscellaneous’ category, click on ‘Financial Aid Attestations’

Note: Student will be notified via e-mail when financial aid award letter is on SIO.

Attestation & Permission Screens

Financial Aid Application Status and Award Letter screen in SIO

Note: This is a PDF file that you can print and/or e-mail.Note: The student award letter is not mailed home.

Application Process Comparison2010-11 2011-12

2009 Tax Returns 2010 Tax Returns

FAFSA 2010-2011 FAFSA 2011-2012

Carnegie Mellon Application (Online)

CSS PROFILE

Tax Documents to The HUB or Undergraduate Admissions

Tax Documents to IDOC

Student W2 forms (not required) Student W2 forms (required)

Signature Page – Submitted to The HUB with CMU Application

Financial Aid Attestations and Permissions completed in SIO

Noncustodial Parent Information Form to The HUB (divorced and separated parents)

Noncustodial Parent Information Form with IDOC materials (divorced and separated parents)

SIO Finances Tab

• A comprehensive site for student finances

• Student Account Invoices

• Student Account Activity

• E-bills

• E-pay and E-refund

• Financial Aid

• Financial Permissions

• 1098-T (IRS – US tax filing document)

Federal Direct Student LoansReference website: www.studentloans.gov

New applicant for Federal Direct Student Loan? Complete…. • Master Promissory Note (MPN)• Entrance Counseling

Did you use Federal Direct Student Loans in 2010-11? • New MPN and Entrance Counseling not needed

Effective July 1, 2011:• Subsidized interest rate = 3.4%• Unsubsidized interest rate = 6.8%

Resources

• HUB Website – www.cmu.edu/hub

• College Contact Model – Who? When? Where?

Go to www.cmu.edu/hub/hours.html or SIOResources

• Student Information Online (SIO) – www.cmu.edu/hub/sio

Questions?