Leon M. Goldstein High School for the Sciences

Michael WotypkaCollege Advisor

(718) 368-8542(718) 368-8555

MWotypk@schools.nyc.govlmghs.org

TOPICS

Who is eligible to apply for aid? Who is considered a dependent student? How much does college cost? How and when to apply for financial aid? Sources and types of financial aid Resources for counselors and students

Eligible Students

Citizen Eligible non-citizen

1. Permanent U.S. Resident with a permanent resident card

2. Conditional permanent resident or holder of I-94 with “Asylum Granted” or “Refuge”

Eligible Students

If the student is not a:

-citizen or

-eligible non-citizen

No federal aid is available Student may be eligible for in-state tuition

In-State Tuition for Undocumented and Out of Status Students

Attended an approved New York State high school for two or more years, graduated and applied to attend CUNY or SUNY within five years of receiving NYS diploma

Attended an approved New York State program for the general education development diploma (GED) exam preparation, received the GED issued in NYS, and have applied to public institutions within the five years of receiving the NYS GED, or

Enrolled in a CUNY institution in the fall 2001 semester and was authorized to pay in-state tuition

STATEMENT OF INTENT- student must complete a statement of intent to legalize status

Resources for Undocumented Students

Scholarships: Peter Vallone Scholarship- NYC student attending CUNY www.salef.org

Immigration Resources: American Immigration Lawyers Association (AILA) www.aila.com Immigration Daily www.ilw.com National Association of International Educators www.nafsa.org US Department of Homeland Security www.dhs.org US Citizenship and Immigration Services www.uscis.gov

Dependent or Independent?

Born before January 1, 1986 (09-10) Married on the day of application Enrolled in master’s or doctoral degree program Currently serving on active duty in the US Armed

Forces A Veteran of the US Armed Forces Have children that receive more than half of their

support from the application Have other dependents

Dependent OR Independent? New

Dependent or ward of the court, in foster care, or both parents deceased after age 13

Emancipated minor as determined by the court Legal guardian Unaccompanied youth who was homeless Unaccompanied youth who was homeless, self-

supporting, and at risk of being homeless

How Much Does College Cost?

Cost of Attendance (COA) includes:

1. Tuition and Fees

2. Room and Board

3. Books and Supplies

4. Transportation

5. Miscellaneous personal expenses

How Much Does College Cost?

4 Year PRIVATE On-Campus Student

Tuition and Fees: $25, 021Room and Board: $9,706Books and Supplies: $962Transportation: $618Personal Expenses: $1,194Total Budget: $37,501

How and When To Apply

1. Collect information

2. Request a federal PIN: www.pin.ed.gov

3. Complete FAFSA online: www.fafsa.ed.gov

4. Complete TAP online

5. Watch for Student Aid Report (SAR)

6. Keep records

7. Contact the financial aid office

1. Collect Information

Student’s and parent’s SSN and DOB Parent’s marital status Tax returns for students and parents W-2’s for student and parents Records of untaxed income for student and parents (such as social

security benefits, public assistance, etc.) Bank, stock, real estate, and business records for student and

parents Student’s driver’s license number Student’s alien registration number (for non US citizens) PINS for student and one parents

2. Request Federal PIN @ www.pin.ed.gov

Get a PIN number NOW for Each Student AND One Parent!

Information processed within 71 hours

Replaces mailing signatures

TIP

Students can get a head state by using:www.FAFSA4caster.ed.gov

Increase student’s knowledge of the financial aid process and provide information about other sources of aid.

“FAFSA4caster Tip” appear throughout the site and provide students with information that will help make preparing for college and the financial aid process easier.

FAFSA4caster will transfer all of your data to the FAFSA on the Web application, making it a lot easier.

3. Complete FAFSA @ www.fafsa.ed.gov

TIP

Why pay for advice on federal student aid? Information is free. Applying is free.

Beware of www.fafsa.com! Free advice is available from: A high school counselor A college financial aid administration The Federal Student Aid Information Center at

1-800-4-FED-AID (TTY: 1-800-730-8913)

4. Complete TAP Online! Immediately after

completing FAFSA online, from the FAFSA confirmation page, link to the TAP-on-the-Web (look for NY Residents)

Establish your TAP PIN: You may choose to use the same number as your federal PIN

What’s Next???

5. Watch for SAR:

Available in 7-10 days

6. Keep documents in a file

7. Contact the financial aid office

How and When To Apply?

FILE EARLY!Right after January 1st of the student’s

senior year Check “will file taxes” Estimate financial information accurately Questions? Call 1-800-4FEDAID (433-

3243) or www.fafsa.ed.gov

How Is Financial Need Determined?

Estimated Family Contribution (EFC) is determined from:

Parents’ income and assets-Primary home value excluded

Student’s income and assets Size of family

-Age of parents Number of children in college

COA minus EFS=Need

Sources and Types of Financial Aid

Federal New York State Private Lenders

Gift Aid-Scholarships

-Grants

Self-help aid-Employment Opportunities

-Loans

Sources and Types of Financial Aid

Private Scholarship Search -At your college of interest -Free Internet scholarship searches

-www.fastweb.com-www.students.gov- Local library resources- Local businesses and civic organizations (including professional associations) related to student’s field of interest

-Parents’ employer/union

Sources and Types of Financial Aid Major Grant Programs

PELL Grant• Must have EFC between

$0-$4,041• Maximum annual award

$4,731*• Minimum award $523

*scheduled to go up each year until 2014-2015

NYS TAP GrantDependent Undergraduate

Students-Award Range $500-$5,000

Independent Undergraduate Studies-Award Range: $500-$3,025

Sources of Types of Financial Aid

Academic Competitiveness Grant Pell recipient Enrolled at least half-time first or second year

student ”Rigorous high school program” graduate Advanced or Honors Regents designations Other rigorous program criteria

$750 first year, $1300 second year

Sources and Types of Financial Aid

SMART Grant

National Science and Mathematics Assess to Retain Talent Pell recipient For Juniors and Seniors enrolled at least half-time in a

four year institution Majoring in physical, life, or computer sciences,

mathematics, technology, engineering, or in a foreign language that is critical to US national security

Have a minimum 3.0 GPA $4000 per year

Sources and Types of Financial Aid

Federal Work Study Based on financial need On or Off-campus employment Usually 12-15 hours per week

Stafford Loans: Federal FamilyEducated Loans and Direct Loans

Subsidized5.6% (09-10)4.5% (10-11)3.4% (11-12)6.8% (12-13)

Based on need Federal government pays

interest while student is in school

$3500 for freshmen

Unsubsidized

6.8% fized interest Not based on need Student is responsible for

interest while in school Max loan cost of education

minus financial aid +$2000 for freshmen

Sources and Types of Aid

Perkins Loan Need based Low interest rate (5%) Student pays no interest while in school Max $5,500* per year May be forgiven

Sources and Types of Financial Aid

Parents Loans for Undergraduate Students (PLUS): For parents of dependent students Borrow up to the entire cost of college less financial aid No adverse credit (parent must pass credit check)Time Payment Plans: May vary…typically, families may spread the direct costs

over the semester or year.

A Note on Borrowing

Before you borrow: remember you must repay loans

The more money you borrow, the more money and the longer it will take you to repay your loan

To estimate your monthly payments go to: www.finaid.org/calculators/loanpayments.phtml

You must file the FAFSA for all federal loans Federal loans have lower interest rates than

most private loans

2008-09 TEACH Grant

Up to $4000 per year For students who intend to teach:• A high-need field• That serves students of low income

Four year service contract More information: www.studentaid.ed.gov

The NYS Math and Science Teaching Incentive Program

Increase the number of math and science teachers Bachelor and/or master degree level in exchange for agreeing to

teach math or science for five years on a full-time basis at a secondary school

Award The annual award for full-time study equals the annual tuition

charged to NYS residents at a 4-year SUNY college The maximum annual award is $4,350 4 years of full-time undergraduate study and one year of full-time

graduate study leading to permanent certification as a secondary education teacher in mathematics or science

The NYS Math and Science Teaching Incentive Program

Eligibility: Be a US Citizen or eligible non-citizen Matriculate in an approved undergraduate or graduate

program at a degree-granting institution that leads to a career as a math and science teacher in secondary education

Have a cumulative college grade point average (GPA) of 2.5 or higher

Not have a service obligation under another program Not be in default on a student loan

Resources

www.fsa4counselors.ed.gov www.collegegoalsundayny.com www.suny.edu/students www.FSAPubs.org www.nasfaa.org/redesign/parentsstudents.

html www.hesc.org