001[Music] good evening my name is Karen Wilson Wy and a little bit about myself I've been in financial aid for over 20 years um and I've worked at three Community College and one University within that time frame and I love financial aid and I don't know people ask me why you're still in financial aid I'm in financial aid because I want to see students um you know get their college education and not have to be in debth when they're graduated and um as I said I love it I've been doing it for 20 years and it's wonderful and it keeps me on my toes every single year so we're going to get started I am here in a capacity of Visa but my current employer is r in college so Jersey just to let everyone
002know if you have any questions you can always call me ask me any questions it doesn't matter I'll answer any questions that you have so we're going to get started so this is he submission statement and I'm trying to go through the slide as slowly as I can because it is like 40 something slides and it's a lot of information if you don't understand something please ask as we have the slide up that way we can address it right there and then okay are we good are we ready excited get books out all right here we go so these are the goal of the financial aid office at every single School even if it's um a community college a private school or a university the goals are is basically to assist students in paying for
003their college education and to achieve their goals and this is basically what we do evaluate fam families ability to pay for the education costs um there's limited resources you know that you you like students stress how am I going to pay for school I can't afford this yes you can there's there's ways of doing that and that's why the financial a office they're there to help you you just have to make sure you go in and have a conversation with the with the um the financial aid office and be personal tell them your situation tell them your life story because your life story can be you getting a free ride at of school just to let you know these are sources of financial aid um it as I said it's for College University this federal
004aid this um the state of New Jersey financial aid this outside organization that you can get um aid from as well um there's grants there's scholarship there's employment opportunities and there's self-help through student loans the key is try not to get into the student loans because you don't want want to be in debt so there are employment opportunities which consider of the college work study student and federal work study and I also tell student it is a good idea to participate in that program because it is a part-time job for you it's good on your resume also it gives you the experience on how to balance your college career and working at the same time and with the program like that schools work with you with your schedule so you never get fired basically you
005always have a job and now these are some factors that will um you know help you get some financial aid your academics Athletics ability your um SAT scores your test scores your ACT SATs there's all these different types of um scholarships that's out there especially you know the New Jersey Stars program through your class ranking as well now this is a net price calculator it's on every school website it helps the students calculate the cost of attendance of attending that school so if you're not sure and you want to find out what your the cost for you to attend a school you can go on any school website and just plug in the numbers and then it will calculate your estimated cost for you based on your program of studies these are types of Federal
006Aid um this basically it's a gift it's free you don't have to pay this back um and this is based on the 23 24 school year award so you have the Federal pel grant you have the seog and you have the teach Grant as well teach grants is mostly at the fouryear universities not at the two-year College just to let you know but you can be eligible for the pal and the seog where the amount is changing because of the one of the new um process the federal government has implemented for the 2524 school year so it's not going to be um like the maximum p as this explained it's going to be slightly different and the schools are responsible for calculating that for you yes well the federal government changed the formula so where
007it depends on your household size that's all taken away out of the formula so when it the based on when you whatever you submit it in that formula when they calculate it is going to give you a negative number a zero or whatever it is that comes up and then the school is the one that's going to calculate it because it's going by percentage now so the the school is responsible for calculating based on your enrollment status what percentage of um age you will be eligible for well the the state has their own calculation based on what grants you're eligible for the state of New Jersey um and I'll go into that when we get to the other types of Grants so these are the state grants you have the tag grants um and the
008good thing is now they have the part-time grant for and they have their monks right there and this is basically for Community College and for your University as well so it kind of breaks it down you have the um eof equal opportunity funds you have the Nur Stars program and that only covers tuition only so students for the Nur stars have to graduate in the top 15% of their graduating class that is determined by their junior ranking and their um senior ranking as well and then you have NJ star 2 which is the second level and that's at the fouryear University and it pays up to 2500 per semester um and then you have the governor Urban scholarship up to $11,000 you have the Gus for women and minorities that is 2 for the year
009and then of course everyone heard about the free community college grant which is the um the called Cog um is the Community College Opportunity Grant and that kind of breaks down what you eligibility is based on your income as well okay and then you have the Garden State which is implementing I think it was this school year they implemented that so basically they're giving students that's attend for your University also to get some benefits Grant from the state of New Jersey and help them with their cost as well and then the newer thing that started as well this last summer was summer tags the tag Grant was never available in the summertime for students it's always the Federal grant so now they're making that available for the summer for students which is great because if
010you want to take a summer class you're able to do so as well um and there think there's six credits you have to be enrolled in at least six credits to receive the State financial aid hopefully they change it okay so we have grants and scholarship requirements so student must be must complete the application okay so you have to make sure that you do complete your FCA application or the alternative application for the state of New Jersey now the difference between that is that the federal application the student must have a social to do the federal application if the student do not have a social then they will go to the hea website and complete the alternative application to be able to get State financially to assist with the cost okay so and the student
011must be a New Jersey resident for State financial aid and that is based on the The Residency of the parents as well um they have to demonstrate needs and they must submit application by the deadlines the federal deadlines is different from hea deadline okay so heesa have it where if you are a returning student you have until September of that year to get your your financial aid application um submitting and all that but it's April 15th if you receive any financial aid from the state of New Jersey you must have your FASA completed by April 15th if you do not you will not get funded for that semester you got to wait until the spring semester to be funded so just keep in mind I also tell students when hopefully it goes back to October
0121st for the um the opening of the FASA application get your application done before February of every year you will not miss any deadlines and unfortunately it's you know you're thinking oh I just did a FASA for this current year but you're in between two fastest school year because the school year is different from the fiscal year school year starts from July and end in June so when you think of you're doing a faster you're doing a faster for September January which is the spring semester starts in January and it goes all the way through the summer that's the fastest school year okay just keep that in mind because you're going to be doing in between um faster for two years okay and of course for the TCH for a part-time tag you have to
013be from 6 to 11 credits summer tag is available same thing for six to 11 credits as well you have to make sure that you are seeking a degree program you cannot be undecided you have to be in an approved degree program or a certificate program to be eligible for federal aid and also for the State financial aid as well so this kind of explain a little bit about um the summer tag so like in um the summer tag was basically estab well established just for the summer but prior it was just for fall and spring semester you were able to get a tag rent from the state of New Jersey and also the eof is a little slightly different um the range is from 200 to um over 3,000 and that depends on the
014school that you're going to if it's a smaller School you may get more money but the minimum that they Community College will give you is $200 for um for the eof program you must de um demonstrate educational and economical disadvantage um background and you have to complete all tasks in order to receive EOS and also to receive your state Grant as well so this is for the urban scholarship you have to rank in the top 5% of your class at the end of your junior year you have to make sure that your GPA is a 3.0 at the end of your GPA as of of the junior year and um these are the county that you have to residing to be able to be eligible for this grant as well and you have to make
015sure that you have financial needs and it's based on the tag eligibility criteria any questions excuse me okay so now we're at the injured Stars program as I said you have to um Brank in the top 15% of your graduation class either in your junior year or your senior year and after your first first year and moving into your third semester student have to have a GPA of 3.0 to continue in the program if you do not have a 3.0 after your first year or um you have to be College ready at the end of your first year and you activate your stars program um you have to make sure that GP is a 3.0 if not you are going to be ineligible for the Stars One and stars two okay for stars two as
016I said that is um the 250,000 is the income limit for that you must be in associate or graduate program based on if you're starting off for the twoyear or you're going to a four-year um you will receive um 25 annually at um the foury year at a public institution and you always have to be enrolled in 12 credits always have to be full-time 12 plus credits the only time that you can be under and go part-time Under 12 credits you have to to have some kind of exemption and the all schools have a list of exemptions that you can apply and they have to approve that before your semester is over so for example say Hey you know I got sick I was in a car accident whatever it is I can't continue on
017you have to make sure you contact the you know who's in charge of the Stars program so you can get an exemption so it won't affect you losing your stars eligibility okay so this is a new program that the state of New Jersey started is for the um c community college grant for which one of I for vacational um schools so if the students not say I'm not going to go to the Community College I go to vacational school you still have an opportunity on receiving the community college grant from the state of New Jersey so that's another option for students as well so these is basically the criteria for that Grant student must be enrolled in at least one eligible County vocational school um course um student must be eligible for funding within that
018school year um you know already earned a bachelor's degree or a social degree you're not eligible any State financial aid once you earn an associate degree you are not eligible for State financial aid only federal financial okay so and then um you have to make sure as you see the adjusted gross income and these already eligibility for that and they have the different eligible program that if you're interested in doing that you can um look at that because you have a lot of um technical school that offer culinary arts but you always get the Federal grant for that but now you can get State financially as well so the key is you want to graduate debt free in some cases you may not be able to based on your program of studies however you want
019to lower that debt as you know as possible as you can so these are the types of State Grant and these are the different tier this is I said the community college grant the minimum you can register for any State financial aid is six credits and you must be making satisfactory academic progress okay oops okay and as I said these are the criteria tier one tier two tier three they only before it was Prior it was um tier one and tier two now they added tier um three so anyone income that's up to the 100,000 they give them 33% of the maximum award now the the way this work the community college grant is a last dollar Grant keep that in mind last dollar which means if you have the P Grant a tag Grant
020and it pays everything for your total cost even though this Ona it says that you're eligible for this you will not be awarded this because whatever the cost is that this grant would have covered it was already covered by another Grant okay just keep that in mind they're not going to give you it's kind of like I call it like double dipping so you want to keep that in mind when you're looking at your Awards because some schools award you but you don't realize you're not going to get part part of it because the other grants cover this doesn't include loans if you have loans no it does not okay it's just your grants that you're receiving because it's the last dollar Grant scholarships everything is calculated into that as well now this is the
021um Community the um university for year college part of the grant for the seog the seog is called for the Community College the Garden State is for fouryear college is the same type of Grant it's just different names to basically explain to you the difference between a two-year college and a four-year College okay and it's the same criteria you have to be in a school in New Jersey you have to make academic progress and you have to be enrolled in um the third or fourth year of enrollment in the public or for your school and these are the same criteria of the income as well now I'm sure everybody heard about the three plus1 program yes now the 3+1 program is students coming out of high school going to a community college where they do
022three years of school at the community college and then they transfer to the four years to finalize to get their bachelor's degree in that one year which is basically you're saving money if you look at it because you're not going to be paying the cost of attending a four-year College within that second year because keep in mind the community college is usually two years and then you get another two years to complete your bachelor's degree so technically you're saving some money for that third year a lot of students is um to do this program and you know Community College are associated with a lot of for your University so it depends on where you want to transfer to they'll explain all that to you when you're um with your advisor as well so you have
023to be enrolled in um make sure it's in a degree program um students complete as a two- year at the community college and earn their associate degree but then they still continue on for that extra year that goes towards their bachelor's degree um and then they they pay the um tuition and fees the final year for the bachelor degree okay and then it you must meet all the criteria to be eligible for the tag New Jersey stars and the community college grant as well any questions okay now these are some self-help loans to fill in a gap for your your shortfalls in your tuition and costs so you can do payment plan all schools offer payment plans um just try to do if you're going to do a payment plan try to do it ahead
024of time because the closer you get to the semester start the more money you have to put down just keep that in mind um you can do the federal direct loan for a dependent student it is uh 5,500 for the school year subsidized loan is 35 unsubsidized loan is 2,000 the difference between the two loans are subsidized loan while the students are in school and is enrolled in a Le six credits the government pays the interest on that for you you don't have to worry about the interest however the extra 2,000 they do not pay any part of that interest so that is always occurring for you at any time and I also tell student if you you're working even though your loan is not in repayment just pay them $50 or whatever you want
025to do so by the time you finish you don't have a lot of interest to pay on that is the student's choice so now every year they interest rate changes and the origination fee changes for the um 2324 the if you students want to take out the loan the interest rate is 5.5% and the um origination fee is 1.57 it may seems Seems a lot in comparison to a alternative loans which as students we go maybe go to Salam discover and get a loan which you got to be careful with that because there is credit check there's no credit check for this you can get the worst Credit in the world you will get this loan as a student just um just you know that's something you want to think about because every year you
026do certain loans is a credit check and it's against your credit so these are um the NG class loans and it kind of explained the difference between the options that you have the terms um you have the different interest rate compared to the Federal Parent PLUS Loan because depends on the school you're going to you might have additional costs so as is um student or a parent you might have to take out extra funding and that is the parent plus loan is the parent taking out the loan on their student behalf and this is credit check every single year you apply for this loan there is a credit check on the parents okay and this loan is and the is the parents is responsible for that so um as you know the fast usually open
027up every October 1st with all the new implementation that the federal government have this this year um they push it back until December the end of December which is December 31st so technically January keep that in mind CU most schools are closed the last week of um December for the Christmas break so you just have to make sure that you know you keep up with that and of course the College Board that profile is open up October 1st and make sure that the ISA application also will be opened up the same day the FAA will be opened up so this is basically and I know a a lot of students already completed this as as well the um csss profile and a lot of school uses this to do recruitment um some you know cost
028of that and this is way how students um schools prepackage the students um financial aid as well yes okay question your son junior or senior so your application you did it for this school year which he's not going to be eligible for financial aid because he has not completed high school as of yet so the application that you need to do is the 2425 which starts September um which start of September of 2024 okay so you have to redo all that because you did it to go to school this school year which you haven't graduated high school yet so that's what I'm saying you have to be very careful because right now it's in between two different school year so the application for this year is for students who already graduated past summer yes so
029you did the the faster application or the college application oh that's fine that is fine yeah because they yeah they will receive your profile and all that and they will send you a whole lot of recruitment paperwork a lot of advertisement yep the faster you're going to do that um in January excuse me she won't be able to do that you will be doing the 25 26 faster CU she but this is just for information for you that's fine that's fine that's fine so this is basically um FASA and keep in mind faster stands for free application for federal student aid I've come across a lot of student that go and pay other organization $85 or hundred something dollars to do an application that is free so when you go to a website if it
030doesn't say free do not do it because don't pay money for something that's free and to get to the website is the student aid.gov website okay not. com. org.gov because there's multiple website out there that they have third party um that helps students do the faster at a cost okay so as I said it's going to be um um open up December 31st um and when you do the fastest so before they used to say um the Sai replac the EFC the EFC basically the expected family contribution it doesn't mean that this is what you have to pay when they give you the calculation so this is your estimate um EMC but the SII is what's replacing the EFC calculation and this one is based on like an a percentage of your eligibility based on
031what you put under faster application and that's a a formula that the government um have in their system and they're still tweaking it so it may change as we you know um in the process of processing schools are in the process of processing the financial aid applications and now um they use it's called prior prior year which confuses me as well that's okay it took me a while to comprehend that so because before you would use the prior year the one prior year taxes to do your faster now you have to go back two years keep that in mind two years so for this current school year the 23 24 is 2021 taxes for the 25 2425 is your 2022 federal tax return keep that in mind and note to yourself please go to the
032IRS website and get a of your tax return transcript not the 1040 from who prepare your taxes the actual filing from the IRS because school May required for you to submit that information to them at least you will have it on hand and don't have to you know do that because you do have to create an account with the IRS to get that information now the other thing is the change where it says parent one parent two on the facet application this is where it gets exciting so now everyone is called contributors to the facet the student is a con contributor the spouse is one step parent um adoptive parent they're all considered that um a contributor to the facet and the reason why they did that is that they Chang um where you did
033you can log in and go to the iris website and transfer your taxes over now they would automatically request that information when you give consent on the facet it's called the fit federal tax information so that's one of the second process that was that's changed on the facet as well so as I mentioned before each contributor must provide consent if not your facet will not be process it's going to be rejected so um and each country have to have a FSA ID and password so note to self again when you're doing the faster sit down with your student and both of you do the faster at the same time because the student has to put in the parent social the date of birth the address the email into the faster application okay so that's one
034of the new process so please make sure that you're doing it this whole step do it together um make sure both parents are there because if you are married file a joint tax return both parents have to create a FSA ID and give consent to have that income information transferred over prior it was only one parents was responsible to do that now they change all that so that's one of the new things so who is considered a contributor biological parents stepparents adoptive parents and spouse as well is included in that process because before or when you were doing the fasta application as a married independent student it's just you put your information on the FAA and you put in the taxes that you know you're married you do joint tax return however that situation is
035now you have to put your spouse's social date of birth email address everything on there too as well if you're not sure schools offer financial aid uh workshops it can be information session or it can do a workshop physically helping you complete the fcet application as well well it depends how you define that so you will have a household where parents are separated or divorce living in their own separate household um the way it's kind of how do I explain this um it's the person that provide the most who contribute more to the family to the family so even though the student parents are divorced or separated is the person that pays more towards their support financial aid office hands are tied cuz certain things ethal we can't tell you what to do you have
036to make that choice and make that determination so it's your choice because you have students who do not live in either parents household support themselves but because they're under the age of 24 they're required to be they're dependent student and they're required to add parental information to the pasta but they don't live with either parent but it depends on the parents marital status are they married separated divorce so that comes into play if you are in a situation like that and you unclear about it contact the financial aid office so they can explain it based on your personal situation because I can say one thing but your situation may not match what I'm telling you right now so you definitely want to have that communication with the financial aid office New Jersey is one of
037the state does not recognize emancipation for financial aid unfortunately New Jersey is one of the state that does not so the parents is obligated for financially Aid purpose to be on the fast application for the student also another note to that is that you know some students life happens don't know what's going on in their person you know stuff going on um refuse to assist their student because you turn 18 you're an adult you got to do X Y and Z not when it comes to financial aid is until you turn 24 that's when you consider independent depend from your parents for financial assistant basically you still use that parents information which means you're only the student in that situation will only be eligible for federal financial aid not State financial aid because to be
038eligible for State financial aid you have to live in the state of New Jersey for at least one year so if your parents is living out of state you can do it faster but you're only going to be eligible for federal financial yes yes both husband and wife have to have a fsaid so keep in mind they are um parents that's divorced living a separate household so who's provide the most support to the student has to be on the FASA so parent a not remarried parent B not remarried okay then the Susan choose who support who they think is providing more and that's the parents they use on the facet now same kind of scenario yes yes because both parents have is if it's a joint tax return both parents have to consent if it's
039married married fing separately both parents have to do the same thing every contribution has to do an fsid it doesn't matter because it depends on who's signing off on the fanem it depends and this is where a lot of schools is still trying to figure out what is the federal definition of that because they want everybody to do the fs ID because we don't know you don't know which parent is going to be the signer on the faster because parent one is not remarried have their income however parent two is remarried have a stepparent have children makes more money than parent one parent two is providing child support spousal support whatever they're doing so which means they're providing more support for that household for that child so that household has to be on the faster
040correct but that's what I'm saying that's what I'm saying who is going to be the signer you can be married fing jointly yes but a lot of students marri they married they file jointly but they don't live in the same household what if they live in the same house so you can't do that but keep in mind in the federal government might reject it because remember your tax return has two names on it okay so they want both parents to consent for having their taxes information implemented into the FASA application not just one both have to give consent and that's the safest way to do it every student have to have a FSA ID the parents can use the one ID because you that's going to be for all your student that's going to be
041in college and for your as well yes I'm sorry it doesn't matter is it has nothing to do who claims you is Who provided more support that's the thing um because you have parents with divorce who divorce who by the divorce decree one year you claim the child the next year the other parent claim the child they flipflop so it depends on that criteria as well who makes the most money who does what yes because each each is individual sorry to interrupt if just moving forward if we could save all the questions to the end that way we could get through the presentation because a lot of this information is can be very personalized and different people have different situations so if we can wait till the end we'll all be available to answer any
042questions that you have so now before students that was undocumented which means they do not have a Social Security number um they were only allowed to um they're only allowed to do the faster through the hea alternative app however they also have parents that do not have a social or they have a it number they were not able to create a um FSA ID now it's possible for those parents to actually s create a fsad and sign off on the faster if this parent does not have a it 10 number or social please put all zeros as the social to process your um FSA ID and on the faet as well and this is basically the um tax information federal tax information how the process worked you have to do you have to give consent
043if you do not give consent it will not get processed so if you are married or unmarried living together um didn't file taxes jointly you have to give consent the bottom line just give consent because if you don't give consent your faster will be rejected and deleted after 45 days and then you have to start all over again yeah so students have to make sure and parents please make sure that you have an email um so that way when this information is sent to you you have access to get it done within 45 days if not it's deleted and you got to start everything all over again so this is basically like the summary of when you give consent um you only have to give consent one time that's it that's the good thing about
044it you don't have to do it every single year so it's already on file whenever you do the FASA every year you renew it it will automatically transfer the taxes information onto the FASA application so this is basically the requirement to complete a FASA you must have a valid social and this is for the federal fin inial application the student must have a valid social security number must be enrolled in a acceptable and approved um program which means a certificate program or a degree program um you have to make sure that the student is either um a US citizen or eligible non-citizen and Nur dreamers who does not have a social um is required to do the um alternative New Jersey alternative application so basically this is the components for the FASA application all contributors
045as a student name social item number date of birth phone number is optional but it's always good to do that email and your career plan whatever you're trying to do and um come to school for um student the consent you have to make sure you give consent to have that your your your taxes information transferred over um and now they have like students have special circumstance schools call it professional judgment based on your circumstance um your parents may be deceased you may be Award of the Court anything like that there's a question in the fasor you answer that and then um the school will reach out to you and say hey we need X Y and Z and then the parents as a contributors also you need the social um the last name and you
046will need the date of birth on the email address in order to get that information as well so you need the household size um parents income and asset as well um income earned from work you have um the federal means um you know if you receiving any Social Services assistance that has to be a facet and the good thing is before you were able to list at least 10 school on the faster now they up it to 20 schools you can list on the faster application and this is basically the submission summary when the students commit completed it you know it's submitted to um the federal government and once they submit all this this information also goes to the parents so the parents can go in and complete their part of the facet as well
047and once everything is finalized it usually take like three to five business days for everything to be processed once the federal application is processed that gets sent down to the state of New Jersey the state of New Jersey will process your your application for State financial aid and also notify you so just keep in mind when you see NJ fam or hea in your email it's not spam it's in reference to State financial aid so now when you do the FASA a state and um they have federal and state verification this process is none that it's not like you did something wrong on the fcet it's just a random selection to select students to go through this process which you're going to have to submit documentation to the schools including your tax return transcript and
048a few other documents based on the school that you have to fill out that say hey we need to do this before we can tell you what you're eligible for unpackage your financially Aid so just make sure you keep an eye out um on that and make sure that whatever School you decide to go to make sure you have access to your student email all communication from schools go to the student email a lot of schools do not use personal email it has to go to the school um student email because it's more secure just's keep that in mind and you always have to check your um your account to make sure because the state will send you for verification and the federal as well so you might be submitting double documents but to different
049um places one will go to the federal and one will go to the state and these are the for NJ dreamers um for the fall of 24 Spring of 25 you need to go to and all the state financially and not just the NJ dreamers um the NJ fam account students have to go to the NJ fam atesa website and create another login besides the federal login um to see what they're eligible for State financial aid and you will get that in an email from the state of New Jersey once you receive that as well so you have to create your account and um apply for the NJ dreamers which is through the um State website as well go ahead if it wants me to stop talking any questions while we wait too much information
050you're not eligible for State financial aid if you apply for school out of state of New Jersey you will get an email saying you are ineligible because you did not select the New Jersey school mhm so this is basically um the he of the main website and you have to log into the NJ fam account once you created your um FSA ID and also student I'm old school pen and paper I got a notebook I write everything down because if you lose your cell phone the database went down where you're storing it at you have nothing because it's very tedious to reset a password and you have to call so you want to make sure whatever you have on your phone just put it on a piece of paper so that way you have it
051as a backup so this is for the um alternative application for the state of New Jersey once you create your account you log into to your NJ fam's account and it's the second option to complete the alternative application and for students who did the federal account you'll get the same menu when you log in however you can check and update schools your scholarship your eligibility of whatever financially the state is offering you as well everything is here if you need to change um your your communication with them and for notification from the state if you say well I didn't see this in my email you can always log in and go to notification is going to show you every single communication from the state of New Jersey that they sent you that they email to
052you or mail it to you it will be there for you to look at so this is basically your cost of attendance so schools have to create a budget so they can basically award your financial aid so it's tuition and fees they're Tak into cons consideration room and board your books of supplies you know Transportation all those miscellaneous costs loan fee um if you're going to study abroad depends on the school you're attending if you have daycare expense uh anything related to disability expense as well they can take that in consideration um they and um any other you know expense that's going go towards your education they have a a flat um cost of attendance which can be increased or decreased based on your situation so if you have a great expense in child care
053you can always talk to the financial office to see how they can adjust your budget to award you more funding just keep that in mind the key is have communication with the financial aid office at all times so this is basically explaining the SII how um it's determined um and it's interesting um it's used to basically to create that the financial aid package um um because once we figure out what your enrollment status is and do the percentage then you will be um financial aid will package um the financial aid office will package your um financial aid um and it's based on the needs and the guidelines of the um school and determined by the federal government as well and it measure basically measures the family financial strength so this is kind of like an
054example of what that is so um Family number one um live in New Jersey parents married fing jointly for in the household the justed gross income is 94 and the asset is zero so the way the calculation saying okay their Sai is over 8,000 which is high on the bracket because of their income and everything else that's calculated in there so they will not have any pel eligibility however same scenario but the the household size increase okay so with having a combination between four in four student in the um in college or six as you can see they're eligible for the pel grant under the second scenario and this is something you don't want to calculate the school will do it for you so that's a good thing so this is basically like a an
055estimate of the the financial aid needs so basically you have your cost of attendance and it comes paired between Community College State College and private college and university as well so based on the financial need and the SII it basically tells you um that you whatever you're eligible for based on that criteria and this is something you do not have to worry about is basically the school is responsible for figuring that out for you you just have to say hey what is my package let me see what I'm getting that's it so this is basically an estimate of what the circle Financial a basically is schools are different so um as I said the fter usually opens up on October 1st of every school year um and it depends on the school that you're going
056to always check the school of your interest website to see when their preferred deadline is to get matriculated into the fourth semester um because sometimes if you don't they'll move you back to matriculate in the spring semester some school don't matriculate in the spring they're basically matriculated in the beginning of the school year so you want to keep up on that um and it's a February to may they usually get your word letters um you know June to July is where you're going into the summer fall is already ended dur to the spring ending Spring going to summer and August is always the due date for bills so just keep that in mind it depends on the school as well they may have some adjustment based on that but just keep that in mind so
057this is a shopping sheet um that all schools have on their website as well and um um it's every you it's like a financial plan they call it a shopping sheet but it's it's called a financial plan they change the name of that as well it helped family um it's basically and it separates the cost of attendance and Direct Loans and all it basically separates your cost and break it down for you um and it gives you an estimate okay this is going to cost me this for a school year it breaks it down for you based on your cost of attendance some student use this and some don't it's your choice but at least it's give you an idea of you know what your cost is going to be because for example um a
058student can be in a General Studies program at a 2-year college and let's say it's say okay it's $155,000 for the school year that doesn't mean that's much is going to cost you to go to that school for the year that is just your budget that's created so that way every Aid every loans every scholarship that's being awarded to that student is being subtracted from that amount and that means schools cannot award you above that amount they can adjust it based on your program if you need to increase it but that's we cannot pass that budget we cannot pass that at all so you you have to basically you know say hey I know this is my cost of attendance I'm having Aid and all this other stuff on there but which is fine if
059you have remaining funding basically from that $1 155 ,000 or whatever that means if you get another funding coming in outside scholarship or hey you get more award Awards we can we're allowed to award you that funding just keep that in mind okay so we kind of went over that a little bit and that's um for the tag renewal is April 15 as I mentioned before April 15 is your deadline to renew your fasta application if you receive tag prior all applicants is September 15 um for fall you have to get everything done by February 15 um no February 15 for spring only students so it depends on if the student is starting from the beginning of the school year or mid school year so you cannot miss the deadline you do this is one
060thing do not miss this deadline because you don't want to lose up and getting funding at all so if you keep in mind say hey February March I need to get my fcet done put it in your phone let it repeat every year make sure you have the fcet done and then you don't have to worry about any other deadlines unless you get selected for verification then they'll let you know hey you have 30 days or 45 days to submit whatever documentation I'm requiring from you and these are outside resources as well to help students um fund their education there's outside scholarships there's you know Campus based scholarship as well there's different payment plans of different School the employment um College work study employment um students can't use those fundings to pay for their cost
061that is money given to schools for employment to pay the student workers and that's all it's for it's to pay the student workers okay so there's other options you have there as well there's private scholarship there's a lot of um websites you can go and apply for scholarship just be careful where you're putting your personal information but these are the most recent ones that most schools students is using as well and most schools have it on a link on their website for this as well if you are part of an organization churches whatever business you know that you know say hey hey I'm going to school can you start a scholarship fund for me it could be anything it can be $500 to help you pay pay for your books and now they also have
062the um ngj best saving plans as well um that students um do have and um it's a great way as well to help pay for your cost for school and both hea and schools offer web um workshops as I said before to help you do your faster explain the faster process um you just have to let them know what type of presentation you might be interested in if they have it and they have some videos as well YouTube videos that explains the process too as well and hea do have publication if you go to the website you can click on students parents or Guardian um um and it has the pamphlets that you guys got as well you can get all this from the state of New Jersey they will mail it to you free
063of cost if you want to you know more depth information about the program or the State financial aid and all that you can get it from their website and this is hea's contact information and their web page as well based on what you are interested in doing the customer service and the email for the customer here and that's their hours of operation and that's it everyone