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What YOU Need to Know About
YOUR FINANCIAL AID
at SF State!!
NANCY JODAITIS
Financial Aid Counselor
Scholarship Specialist/AB 540 Counselor
San Francisco State University
FAFSA & CA DREAM FACTS
 Students HAVE to Apply Every YEAR!
 Should Complete in January or February (Prior to
March 2nd)
 Recommended to Sign Application with P.I.N.
 Completing Application is only the First Step
 Financial Aid Eligibility is Based Primarily on
 2014 Income & Investments
 2015 Household Size
 If Household Income Changes, Contact the Financial Aid
Office after June 2015 to determine steps/paperwork necessary
to review eligibility for need-based aid.
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How Does My Financial Aid
Get Calculated???
Cost of Attendance -
•Registration & Fees
•Room & Board
•Books & Supplies
•Transportation
• Personal Expenses
Total Cost of
Attendance
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Estimated Family
Contribution* (EFC)=
Student Contribution
+ Parent Contribution
= Estimated Family
Contribution
*The calculation of the
EFC is based on the
information submitted
on the FAFSA, such as
income and
investments
Financial Need
Determines the
eligibility of the student
for Federal & State
Financial Aid
(Grants, Loans,
Workstudy &
Scholarships)
Financial Aid
Offer
What Does Financial Aid Pay For??
• Tuition (paying your classes, gym, health clinic,
student services & fun activities!)
• Where You Live (at home, in the dorms, your own
apartment)
• School Books & Supplies
• How You Get Back & Forth to School (BART, bus,
car & parking costs, bike, walk)
• Personal Expenses (Educational Related Costs)
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THINGS Financial Aid Usually Doesn’t Cover
• Housing Deposit (due with License)
• Books Options Before First Disbursement
O SF State Program ~ BayBucks
O Project Connect Book Loan Program
• Financial Aid CANNOT Release Until One
Week Before School Starts Each Semester.
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How FINANCIAL AID Works
WHEN School Begins,
If Financial Aid is ALL IN ORDER
$$ comes to the School
Tuition & Other Fees (Dorms, etc) are DEDUCTED
$$$ BALANCE Goes to STUDENT and/or PARENT
OR
$$ Student pays OUTSTANDING Fees
Prior to First Day of Classes or Stated Deadline
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GRANTS = Free $$ to STUDY!
•Federal Grants:
O Pell
O SEOG
•State:
O Cal Grants A & B
O State University (CSU)
O EOP Grant
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Federal STUDENT LOANS
interest rates subject to change on July 1, 2015
Subsidized Loans:
• Gov’t Pays Interest While You’re in School
• 4.66 % Interest
• Maximum Amount ~ Freshmen: $3,500
Sophomores $4,500 Juniors/Seniors $5,500
UNSubsidized Loans:
• Interest Accrues While You’re in School ~
We recommend you pay interest & it’s tax-deductible
• 4.66% Interest
• Maximum Amount for Dependents: $2,000
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Federal PARENT LOANS
interest rates subject to change on July 1, 2015
• Based on CREDIT ~ 7.21% Interest Rate
• Parent Must complete ALL three steps AFTER July 1st:
1) SF State Parent Plus form 2) Apply at studentloans.gov
3) Complete Master Promissory Note
• Parent Must Be APPROVED based on credit
• Interest Accrues While Student Is in School
• Maximum Loan Amount: Difference Between Student
Financial Aid & Cost of Attendance
• If Parent Declined, Student Can Increase Unsubsidized
Loan $4,000 ~ Contact School for Instructions
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FEDERAL WORK STUDY
• Need-Based Aid that You EARN
• Great Option for PT job at School
• Get Connected to Staff/Faculty on Campus
• Can Work as a Tutor with America Reads
• Work-study is not counted as income on
FAFSA if listed on next year’s application
Students ineligible for federal work-study can
also seek employment as Student Assistants
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Cost of ATTENDANCE or
ESTIMATED COSTS for SF State
2015-16
SF State
• Tuition
$6,468
• Room & Board
$13,434
• Books & Supplies
$1,860
• Transportation
$1,486
• Personal Expenses
$1,392
• TOTAL
$24,640
COA is found on your award letter
& financial aid website
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MARCH
!*!*!
REALLY!
ND
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College Student Undergraduate
Federal/State Financial Aid Programs
WORK STUDY:
Financial
assistance earned
by a student
through
employment.
Federal
Work Study
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GRANTS:
Financial aid that
does not have to be
repaid.
Up to $4,000
LOANS:
Money loaned to
students.
Repayment begins
after student has
left college.
Perkins
Pell
$555 - $5,865
SEOG
Up to $500
Cal Grant A
$5,472
Cal Grant B
$7,120
EOP Grant
Up to $800
LOANS TO YOUR
PARENTS:
Parent Plus Loan
University Grant
$5,472
IF Denied :
Stafford/Federal
Direct Loan:
Subsidized &
Unsubsidized.
$1,000 per year
$5,500 - $7,500
per year
Up to $24,640
at SF State
Up to $4,000 for
student
For CAL GRANTS:
www.csac.ca.gov
Create an account at WebGrants4Students
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Check your CAL Grant status and Make
SURE the Proper School is Listed
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Becoming an AB 540 Student
• Allows certain categories of non-resident students to
pay in-state tuition fees
• Must file AB 540 affidavit & present official CA high
school transcripts to be exempt from non- resident fees
• Requires 3 Years of CA HS or primary school and
Graduate from CA High school or Equivalent
• Applies to Citizens & Non-Citizens
www.sfsu.edu/~finaid/ab540
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Where Do I Get INFO/HELP
with My Financial Aid??
• FAFSA www.fafsa.ed.gov
• CA Dream Application
www.caldreamact.org
• SF State Financial Aid Website
www.sfsu.edu/~finaid
• SF State Gateway
Student Center
www.gateway.sfsu.edu
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Figure out YOUR Budget…
Do You NEED LOANS?
• Tuition~ Has to Be Covered FOR SURE!
• Books~ Project Connect Book Loan? Rental? Half.com?
• Transportation ~ (Plane, Train, Car or Bus Pass)
O
O
Example: BART from Fremont to Daly City = $12 Roundtrip
School 3xs week = $36 for 15 weeks= $540 per SEMESTER!!
• Dorms or Housing~ HOW MUCH is IT?
Monthly Payment Plan?
Do You Have to Pay a Deposit?
• Personal Expenses ~ Educational Expenses, Computer, etc.
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USE the Per Semester Budget Worksheet
www.sfsu.edu/~finaid
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Financial Aid Office at SF State
O
Experienced Counselors Available
Visit or Call with Questions ~
BE PROACTIVE!
OneStop, Student Services Building,
Monday-Friday 9:00-5:00
O By Phone: M-F 9:00 to 4:30 415.338.7000
O Via email: [email protected]
O
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Key Times to Check Financial Aid Status
• FAFSA or DREAM website
O Check Two Days After Applying
• SF State Student Center gateway.sfsu.edu
O March ~ Income Verification or Documents
O Mid-April ~ To View Award
O PRIOR to Your Student Orientation
O Right Before Fee Payment Deadlines
 Fall: Early July & Mid August for Fall
O Just Before Classes Begin
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Student Center – TO DO List
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To Do List ~ Income Verification
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Verifying Your Income
• Students are randomly selected by FAFSA or DREAM
to verify household income and family size
• Student/Parent completes Income Verification Sheets
AND
• USES the Data Retrieval Tool at www.fafsa.ed.gov
OR
• SUBMIT Tax Return TRANSCRIPT from IRS, if student
or parent cannot use data retrieval tool
1040 TAX RETURNS ARE NOT ACCEPTED!
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15-16 Dependent Student Verification Form
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Verification of Family Household Size
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Parents Who are Tax Filers
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Parents Who Don’t File Taxes
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Student Tax Information
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The IRS Data Retrieval Tool is accessible
through the FAFSA website
http://www.fafsa.ed.gov
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“Financial Information” Section of FAFSA
How the questions under the
“Financial Information” section
are answered, determines
whether you can use the tool.
Data Retrieval Tool is AVAILABLE
for BOTH Parents & Students
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“LINK TO IRS”
If you are eligible to use
the IRS Data Retrieval
Tool, you will be prompted
to:
1. Enter your FAFSA Pin
Number
2. Select Link to IRS
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FAFSA – IRS Data Link
After you are connected to
the IRS.gov website:
1. Review your tax information
for accuracy
2. Select the appropriate box
below.
3. Select Transfer Now.
You will then be returned to the
FAFSA website.
Your Data will now be
transferred to your
FAFSA
You MUST sign with FAFSA PIN & resubmit
your FAFSA to complete the process.
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Print Tax Return Transcript
from www.irs.gov
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VIEWING Your Financial Aid AWARD
Student Center ~ www.gateway.sfsu.edu
Will BE Available to VIEW in Mid to Late APRIL
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MOST Common Reasons
Financial Aid Award Could be Delayed
• Not Formally Admitted to the School
• Invalid FAFSA: Discrepancy with Name, Date
of Birth and/or Social Security Number
• Financial Aid File is INCOMPLTE:
O Didn’t sign FAFSA or DREAM App
O Specific Documentation Needed (Foster
Youth, Marriage or Birth Certificate, etc. )
• Selected for Income Verification
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Account Summary = Balance DUE
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Students Receiving Financial Aid
Have a SPECIFIC Deadline to Pay FEES
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Handle Your BUSINESS!*!
• Check your Financial Aid Status at
www.gateway.sfsu.edu
• SHARE Responsibility between Parent &
Student to ensure everything is in order.
• BUDGET Your Money!
• Take Advantage of all Resources Available!
• Ask for Help if you Need it!
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SCHOLARSHIPS
Looking for Scholarships
Writing the Essay
• Scholarships for Grades,
Community Service, Your
Major, Geographic Area,
Ethnicity & MORE!
• Tell Your Story!
• Apply for AS MANY AS
POSSIBLE!
• Apply Early ~Majority of
Deadlines are Jan – June
• Use a Scholarship CHART
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• One Good Essay can
be the Base!
• Write & Re-Write
Your Essay!
• Work Your Chart!
Scholarship Website
Campus Scholarships
Outside scholarships
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Campus Scholarships
~ SF State ONLY ~
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Getting Started ~ Campus Scholarships
• Sign in with your SF State ID & Password
• Complete General Application to START
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External Scholarships
~Private/ Community Scholarships~
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SCHOLARSHIP CHART
TO ORGANIZE YOUR EFFORTS
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Make A Friend In Financial AID!!
SF State Office of Student Financial Aid
OneStop, Student Services Building,
Monday-Friday 9:00-5:00
By Phone: M-F 9:00 to 4:30 415.338.7000
Via email: [email protected]
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