Federal Student Aid FAFSA Updates & Resources. Lori A. Blust Wharton County Junior College Financial Aid

Federal Student Aid 2017-2018 FAFSA Updates & Resources Lori A. Blust Wharton County Junior College Financial Aid TOPICS 1. FAFSA History 2. FSA ID...
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Federal Student Aid 2017-2018 FAFSA Updates & Resources Lori A. Blust Wharton County Junior College Financial Aid

TOPICS 1. FAFSA History

2. FSA ID

3. 2017-2018 FAFSA Updates

4. Parent/Student Resources

FAFSA History

Federal Student Aid’s (FSA) Mission To ensure that all eligible individuals benefit from $150 billion dollars of federal financial assistance in the form of grants, work-study, and loans for education beyond high school “Funding America’s Future, One Student at a Time”

FAFSA Evolution • 1992 – Free Application for Federal Student Aid (FAFSA)

• 1997 – FAFSA on the Web • 2008 – IRS Data Retrieval Tool (2009-10 FAFSA) • 2009 – Skip/Smart Logic (2010-11 FAFSA) • 2016 – Earlier Launch & Collection of Earlier Income and Tax Information (2017-18 FAFSA)

FSA ID

FSA ID: Electronically sign FAFSA

WHERE CAN I USE MY FSA ID? fafsa.gov

StudentAid.gov/log in or nslds.ed.gov

StudentLoans.gov



Electronically sign your (or your child’s FAFSA.



View a history of any federal student aid that you have received.



Complete entrance counseling, The Financial Awareness Counseling Tool, or exit counseling.



Import your tax information from the IRS.



Look up your loan servicer’s contact information.



Electronically sign a Master Promissory Note (MPN).



Prefill data in this year’s FAFSA if you filed a FAFSA lasat year. That’s called filing out a Renewal FAFSA



Complete PLUS loan requests.



Make online corrections to an existing FAFSA.



Estimate your student loan payments using the Repayment Estimator.



View or print an online copy of yoru Student Aid Report (SAR).



Apply for an income-driven repayment plan or a consolidation loan.

teach-ats.ed.gov •

Sign your Agreement to Serve for the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program.

Studentaid.gov/FSAID

FSAID.ed.gov

FAFSA.gov

2017-2018 FAFSA UPDATES

2017-18 FAFSA Updates Change #1: Earlier FAFSA Launch • 2017–18 FAFSA available Oct. 1, 2016, at fafsa.gov • Change to October 1 launch will be permanent

Change #2: Earlier Income Info Required • 2015 tax/income information required • IRS Data Retrieval Tool available at time of launch

Benefits of FAFSA Updates Benefit #1: Alignment • Many college application deadlines occur in the fall • Alignment of FAFSA availability = less confusion

Benefit #2: Alignment • No need to estimate tax information • IRS Data Retrieval Tool available at launch • Earlier receipt of Expected Family Contribution (helps with assessing net costs)

Benefit #3: Less Pressure •

More time before (most) state and school financial aid deadlines

• More time to compare school offers before College Signing Day

2017–18 FAFSA Updates

Other FAFSA Updates • Added Medicaid to list of Means-Tested Benefits • Addition of Medicaid to FAFSA questions 75 & 97 • Printed FAFSA availability • Income threshold for Auto Zero EFC = $25,000

Get Started Page

Parent & Student Resources

FAFSA4caster on FAFSA.GOV

StudentAid.ed.gov

Detailed College Info and Comparison • College’s website • School type • Tuition and fees • Net price average • Graduation rates • Retention rates • Transfer rates

College Navigator

2017-18 “Early FAFSA” FAQs Website

Repayment Estimator

Repayment Estimator You have a choice of repayment plans. The chart below provides details about repayment plans and your estimated repayment information under each of the different plans. Your loan servicer will determine your eligibility for the repayment plans. Estimated total loan s of $30,000. REPAYMENT PLAN

REPAYMEN T PERIOD

MONTHLY PAYMENT

PROJECTED LOAN FORGIVENESS

TOTAL INTEREST PAID

TOTAL AMOUNT PAID

Standard

120 months

$338 to $338

$0

$10,512

$40,512

Graduated

120 months

$194 to $581

$0

$13,358

$43,358

Pay As you Earn

131 months

$270 to $338

$0

$12,020

$42,020

Income Contingent Repayment (ICR)

133 MONTHS

$297 TO $354

$0

$12,228

$42,228

Twitter Homepage

@FAFSA

www.twitter.com/FAFSA

Facebook www.facebook.com/FederalStudentAid

YouTube www.youtube.com/FederalStudentAid

Factsheets

Why Go to College?

Who is My Parent?

Studentaid.ed.gov

Federal Student Information Center (FSAIC) • FSAIC can answer questions via: • oE-mail • oLive Chat • oToll Free Hotline

• 1-800-4FED-AID • (1-800-433-3243) • • • •

Monday through Friday 8:00am – 11:00pm ET Saturday and Sunday 11:00am – 5:00pm ET



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Questions???

Contact Information Lori A. Blust Financial Aid Coordinator/Counselor Wharton County Junior College 14004 University Blvd Sugar Land, TX 77479 281-243-8431 [email protected]