Title: Welcome to the
1Welcome to the
- Michigan High School CounselorVideo Conference
- November 14, 2006
2(No Transcript)
3Federal Update
- Rick Shipman
- Michigan State University
- November 14, 2006
4What is Federal Financial Aid?
- Grant Programs
- Pell Grant
- Supplemental Educational Opportunity Grant
- Academic Competitiveness Grant
- National Science and Math Access to Retain Talent
(SMART) Grant - Work Program
- Work-Study
- Loan Programs
- Perkins Loan
- Stafford Loans
- Federal Family Education Loan
- Federal Direct Loans
- PLUS Loans
5How to Apply
- Free Application for Federal Student Aid (FAFSA)
- Paper application
- Web-based
application - (to file online parent student need a
Personal Identification Number or PIN)
6PIN Web Site
- PIN serves as electronic signature on ED
documents, including electronic promissory notes. - PIN is used to gain access to ED systems,
including - Corrections on the Web
- NSLDS
- Direct Loan Origination
- Direct Loan Servicing
- Loan Consolidation.
7Free Application for Federal Student Aid (FAFSA)
- Initial step in the application process
- Core document to apply for financial aid
- Used to calculate an Expected Family Contribution
(EFC) - Confirms certain eligibility requirements
8Completing the FAFSA
- Information requested
- Step 1 Student demographic information
- Step 2 Student financial information
- Step 3 Dependency status questions
- Step 4 Parent financial information
- Step 5 Independent student household
information - Step 6 List of schools to receive results
- Step 7 Signatures and certifications
9Completing the FAFSA
- More than 88 of FAFSAs are now filed online.
- The FAFSA on the Web (FOTW) Worksheet has been
redesigned to help filers with FOTW. - FOTW Worksheet is in the order that the questions
appear on FOTW the paper FAFSA is not.
10Completing the FAFSA
- FOTW Worksheets will be sent to schools to
replace paper FAFSAs. - FOTW Worksheets will be in an 8 page booklet,
just like FAFSAs. - FOTW Worksheets may not be used as FAFSAs!
- If you need more forms, you can order them by
calling 1-877-4EDSPUBS or online at
http//www.fsapubs.org/.
11How Is The Data Used?
- In a statutory formula called the Federal
Methodology - Looks at income, assets, and size of family to
determine familys ability to pay for education - Result is called the Expected Family Contribution
(EFC)
12Changes in FAFSA 2007-08
- More than 88 of FAFSAs are now filed online.
- View a draft of the Worksheet on the Web at the
URL below.
www.ifap.ed.gov - Click on FAFSAs and Renewal
FAFSAs link under Publications
13FAFSA on the Web (FOTW)
- Certification page will require students to agree
not to disclose their PIN to anyone. - Parents with multiple children in college will be
able to transfer their information to other
childrens applications.
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17Demonstration Site for FOTW
- Available in December 2006
- FAFSADEMO.TEST.ED.GOV
- User Name EDDEMO
- Password FAFSATEST
18With Electronic Signatures
- It is not necessary to print and sign a paper
signature page if both the dependent student and
parent(s) have a federal PIN. - The PINs are entered as part of the FOTW
completion process and replace a pen and paper
signature form.
19Without Electronic Signatures
- If both the dependent student and parent(s) do
not have PINs, they must provide a signature page
for the signatures and mail it. - It is permissible for the student or parent
applicant to sign electronically with a PIN and
the other to submit a paper signature form. - Signature page must be received within 14 days.
- If signature page is not received by the federal
government within 14 days, the applicant receives
a signature page in the mail which must be must
be signed and resubmitted.
20Student Aid Report (SAR)
- The SAR summarizes the data provided on the FAFSA
as well as the federal calculations and is sent
to the applicant. - Paper SARs will be on yellow paper.
- Only last 4 digits of parents SSN will display
on paper and electronic SARs. - Displays official EFC.
- Submit to college only if requested.
- Paper application without students e-mail
address will result in paper Student Aid Report
(SAR). - Paper application with students e-mail address
will result in e-mail with Web site for SAR on
the Web.
21Corrections on the Web
- Available regardless if original application was
paper or electronic. - Students PIN required to access.
- Parents must have PIN to correct parent
information. - Pop-up message will appear when student tries to
correct transaction already corrected by a school.
22Avoid Errors!
- Errors on the FAFSA or supplemental forms may
delay application processing and result in the
loss of financial aid funds. - Encourage students/parents to read the
instructions and complete the forms carefully!
23Independent Student Criteria
- Born before January 1, 1984
- Working on a masters or doctorate program
- Married
- Has child(ren)/dependents for whom he/she
provides more than half the support - Both parents are deceased
- Is/was a ward of the court until age 18
- Veteran of the U.S. Armed Forces or currently
serving on Active duty in the US Armed Forces for
purposes other than training - Most high school students will not be independent
but, in extraordinary circumstances, the college
aid administrator can override dependency.
Contact the college aid office for help.
24Types of Federal Aid Grants
- FAFSA required for all federal grants
- Pell Grant Program
- Undergraduates pursuing first baccalaureate
degree - 400 to 4,050 per year currently
- Supplemental Educational Opportunity Grant
- Undergraduates pursuing first baccalaureate
degree - Awarded first to students with exceptional
financial need (i.e., students with the lowest
EFCs at that school) - Priority to Federal Pell Grant recipients
- 100 to 4,000 per year
25Types of Federal Aid Grants
- Academic Competitiveness Grant
- Began 7/1/06
- For Pell eligible US Citizens
- A 3.0 GPA required beyond the freshman level
- ACG is for freshmen and sophomores who completed
a rigorous HS curriculum - Freshmen get 750 sophomores 1,300
26Types of Federal Aid Grants
- Academic Competitiveness Grant
- ED provides 5 categories of rigorous curricula
- State established advanced or honors program
- State Scholars Initiative
- A curriculum similar to State Scholars
- Completion of at least 2 AP courses with 3 scores
or 2 IB courses with 4 scores - State designated program
- State Scholars Initiative
- 4 Years of English
- 3 Years of Math
- 3 Years of Science
- 3 Years of Social Studies
- 1 Year of Foreign Language
- Michigans newly adopted Michigan Merit Standard
- Next slide
27Types of Federal Aid ACG
28Types of Federal Aid Grants
- SMART Grant
- Began 7/1/06
- For Pell eligible US Citizens
- 3.0 GPA required beyond the freshman level
- For junior/senior students in specific majors
- Computer Science, Engineering, Foreign Language,
Life Sciences, Mathematics, Physical Sciences,
Technology - 4,000 per year
29Types of Federal Aid Loans
- Federal Perkins Loan
- Undergraduate or graduate students
- Must file FAFSA to be eligible
- Priority to those with exceptional need
- Interest rate is 5
- Nine-month grace period
- Deferment and cancellation provisions available
- Up to 4,000 per year for undergraduates 6,000
for graduates
30Types of Federal Aid Loans
- Federal Stafford Loan
- Must file FAFSA to be eligible
- Annual loan limits (Current/after June 07)
- 2,625/3,500 for Freshmen
- 3,500/4,500 for Sophomores
- 5,500 for Juniors and Seniors
- 18,500/20,500 (each year of graduate/professiona
l study) - Subsidized must demonstrate need
- Unsubsidized need is not a consideration
- 6.8 fixed interest rate as of 7/1/2006 - 10 year
repayment
31Types of Federal Aid Loans
- Federal Grad PLUS
- Required to file FAFSA
- Creditworthiness determined by lender
- Cosigner may be required
- Loan limit is cost of education minus other aid
- Repayment begins approximately 60 days after loan
fully disbursed - In-school deferments readily available
- 7.9/8.5 fixed interest - 10 year repayment
32Types of Federal Aid Loans
- Federal Parent PLUS
- Not required to file FAFSA
- Creditworthiness determined by lender
- Cosigner may be required
- Loan limit is cost of education minus other aid
- Repayment begins approximately 60 days after
funds are fully disbursed - 7.9/8.5 fixed interest - 10 year repayment
33Types of Federal Aid Work
- Federal Work-Study
- Employment during school
- Reimburses employer for a percentage of student
earnings - Non-profit jobs only (on or off campus)
- Income is taxable (state and federal)
- Excluded from students total income on next
years FAFSA - Program varies from school to school
34Supplemental Forms
- Institutional application
- Stafford loan application
- Parent/Grad PLUS Loan application
- CSS Financial Aid PROFILE (school aid)
35Counselor Resources
- National Association of Student Financial Aid
Administrators - WWW.NASFAA.ORG
- Counseling Tools
- Student Aid on the Web
- WWW.STUDENTAID.ED.GOV
- FSA for Counselors
- http//ifap.ed.gov/FSACounselors/clcf/main.html
- Online information for middle school, high school
and TRIO counselors
36Counselor Resources
37More Resources
- The Financial Aid Information Page
- WWW.FINAID.ORG
- Accurate and Comprehensive Information
- Links to Free Scholarship Searches
- Scholarship Scam Alerts
- Financial Aid Consultant Guide
- Loan Calculators
- Strategies--Maximizing Aid Eligibility
- Answers to Frequently Asked Questions
38Questions?
39A national award-winning non-profit Bryan
Taylor November 14, 2006
403 Ways to Make Your Job Easier
- College Goal Sunday
- EduGuides
- Professional Development
411. College Goal Sunday
- Do the FAFSA
- February 11, 2007
- 27 regions
- 300 volunteers
- 4,000 scholarships
- Flyers posters shipped in December
421. College Goal Sunday
- To Do
- Place a link
- Hand out flyers
- Promote the event
432. EduGuides
- My daughter was scheduling her classes when
I came across your EduGuide. A teacher had
recommended it. I didnt know there was so much
info on what to do. From a parents perspective
this is exactly what you need. Ill be following
up with my daughters counselor to talk about
what we need to do differently. -
- Laurie Curtis, Caro mother
44Expert Advice at Every Step
- Preschool Elementary Middle
High College - With official MDE guidance info
- More than one million annual copies
452. EduGuides
- To Do
- Distribute
- Ask district if you dont receive copies
- Order College EduGuide
- Link
463. Professional Development
-
- This session touched me. My students will
benefit from all Bryan talked about. -
- Kris Hubbard,Teacher
473. Professional Development
- Parents and teachers
- Focused on overcoming family problems to boost
achievement on new merit curriculum - More than 3-in-4 rate as better than most PD
- More than 4-in-5 leave with specific action steps
- Matching grants
- Call for info
483 Ways to Make Your Job Easier
- College Goal Sunday
- EduGuides
- Professional Development
49Questions?
50(No Transcript)
51GEAR UP/ COLLEGE DAY PROGRAMMichigan Dept. of
Labor and Economic Growth
- YEAR 1
- July 21, 2006 July 20, 2007
- Funded by U. S. Department of Education
- and State of Michigan
- Sheree Price
- November 14, 2006
52Grant Award Notification
- 18 million dollars for 6 years
- 9 million dedicated to scholarships
- 9 million dedicated to early intervention and
administrative costs - Continued annual funding contingent upon the
projects performance during the year - Submit an annual Work Plan inclusive of
benchmarks, activities and time line - Submit an annual Budget for the program
53Cohort Approach
- States that opt to serve a cohort must provide
services to all students in the participating
grade levels at a school, rather than a selected
group of students. Services must be provided to
a cohort starting no later than the 7th grade and
continuing through high school. -
54Cohort Approach
- A cohort must
- Serve all the students in a particular grade
level(s) at a participating school(s) that has a
7th grade and in which at least 50 percent of the
students are eligible for free or reduced-price
lunch under the National School Lunch Act. - or
55Cohort Approach
- 2) If an eligible entity determines that it would
promote, the effectiveness of the program, an
entire grade level of students beginning not
later than the 7th grade, who reside in a public
housing as defined in section 3(b) (1) of the
United States Housing Act of 1937) may receive
services.
56Early College Awareness
- Set high expectations and high standards for all
students - Encourage students to work hard and get the best
grades they can - Help students find people to support positive
goals - Encourage students to take college prep courses
- Help students learn that financial aid is
available.
57GU/CD Goal
- Early Intervention Component
- To ensure that all GEAR UP students receive the
academic preparation, social support, and
guidance necessary to succeed in college and the
workforce.
58Early Intervention Services
- Sites are required to provide early college
preparation and awareness services - Mentoring
- Financial Aid Counseling
- Outreach
- GU/CD Pledge
- Career Preparation
- Summer Enrichment Opportunities
- Tutoring
59Objectives
- Objective 1 Increase access to information for
parents, students, educators and administrators
regarding the benefits and accessibility of
postsecondary education in Michigan.
60Objectives
- Objective 2 Raise awareness of students and
parents knowledge of financial aid
opportunities for postsecondary study.
61Objectives
- Objective 3 Raise academic standards and
expectations. Ensure that GU/CD students receive
the academic preparation, social support and
guidance necessary to succeed in college and the
workforce.
62Objectives
- Objective 4 Increase professional development
opportunities for teachers, counselors and GU/CD
staff.
63Contact
- GEAR UP/College Day Program
- 201 N. Washington Sq.
- 3rd Floor Victor Office Center
- Lansing, MI 48911
- (517) 373-9700
64Staff
- Rudy Redmond, Manager
- redmondrc_at_michigan.gov
- Patrick Melia, GU/CD Coordinator
- meliap_at_michigan.gov
- Sheree Price, GU/CD Coordinator
- prices1_at_michigan.gov
- Dawn Marsh, GU/CD Analyst
- marshd_at_michigan.gov
65Questions?
66(No Transcript)
67Saving for College in Michigan
Diane Brewer November 14, 2006
682007 Enrollment
- MET 8 Month Enrollment
- 2007 MET Enrollment
- October 1, 2006 to January 31, 2007
- April 1, 2007 to July 31, 2007
- Increased pricing for Contract Purchases After
January 31, 2007 - Monthly Purchase Early Payment Discount
69WHATS NEW
- MET recognized as a Parental Asset for Financial
Aid (prior to July 1, 2006 recognized as a
Student Resource) contract value equal to average
or lowest tuition - 529 plans MET and MESP provided permanent Federal
Income tax-free treatment - MET time to use benefits extended to 15 years
- MESP Match Funds Approved for 2006-07
70Matching Grant
- The State will match 1 for every 3 contributed
- Maximum 200 per beneficiary
- Requirements -- when the MESP account is opened
- Beneficiary must be 6 years old or younger
- Beneficiary must reside in Michigan
- Household income of the beneficiarys custodial
parent(s) must be 80,000 (AGI) or less - Available only the 1st year the beneficiary is
enrolled in the program - State ultimately determines who is eligible
- Proceeds are invested in the TIAA-CREF
Institutional Bond Fund - For tuition only
71 - MET Contract Options
- Three Types of Contracts
- Full Benefits
- Limited Benefits
- Community College
- MESP Investment Options
- Seven Investment Options
- Age Based
- Conservative option
- Moderate option
- Aggressive option
- Principal Plus Interest
- 100 Fixed Income
- 100 Equity
- Balanced
72 - Similarities
- Benefits of Internal Revenue Code Section 529
- State Federal Tax Exemption on Qualified WDs
- State Income Tax Deduction for Contributions
- Transfer Contracts/Accounts Among Siblings
- Gift Tax Exemption
- Payroll Deduction, ACH or Coupon Payments
- MET MESP can be used separately or together
- Enroll Online www.setwithmet.com or
www.misaves.com
73 - Differences
- MET - Prepay Tuition Mandatory Fees
- MESP - Save for all Qualified Higher Education
Expenses - MET - Pays Tuition Mandatory Fees at MI Public
Two- or Four-Year College (Refund amount portable
to attend MI Private or eligible Out-of-State
College) - MESP - Account Balance can be used to pay for
Total Qualified Expenses at any eligible college
in the nation
74- Differences (cont.)
- MET - Prepay with Monthly Installments, Payroll
Deduction, ACH or Lump Sum - Ignore Rising
Tuition - MESP - Save as Much as 235,000. Deposit as
little as 25 (15 if payroll deduction) - MET - Purchase for MI Child, Newborn to 12th
Grade, Allowed 15 years to use contract - MESP - Open Account for Anyone No Age Limit, No
Residency Requirement
75Questions?
76(No Transcript)
77Student Financial Services BureauOffice of
Scholarships and GrantsCarla FoltynTom
Freeland November 14, 2006
78Office of Scholarships and Grants
- All State of Michigan scholarship and grant
programs housed in one office. - OSG administers 14 different programs for
students. - OSG staff is dedicated and committed to helping
students.
79Office of Scholarships and Grants
- Programs Administered
- Michigan Competitive Scholarship
- Michigan Tuition Grant
- Michigan Merit Award
- Tuition Incentive Program (TIP)
- Michigan Nursing Scholarship
- Robert C. Byrd Honors Scholarship
- Work-Study Undergraduate
- Work-Study Graduate
- Adult Part-Time Grant (APTG)
- Michigan Educational Opportunity Grant (MEOG)
- GEAR-UP Michigan!
- GEAR-UP College Day
- LEAP
- Paul Douglas Teachers Scholarship (repayments
only)
80Office of Scholarships and Grants
- Michigan Competitive Scholarship
- Maximum award 1,300 for 2006-07
- Based on need and qualifying ACT score
- Qualifying ACT score 90 (sum of four tests)
- Composite score 23
- Best to have seniors complete ACT test by
December test date - Insure students social security number on ACT
document - Priority date to file FAFSA March 1, 2007
81Office of Scholarships and Grants
- Michigan Tuition Grant
- Need based
- Private college specific
- Minimum annual award - 2,100 for applications
received up to July 1, 2007 (for academic year
2006-07
82Office of Scholarships and Grants
- Michigan Tuition Grant and Michigan Competitive
Scholarship - Both need based
- 2007-08 FAFSA is yellow
- State residency
- 18 students MI
- 68 parents MI
- Question 24 year in college must be answered
0 for high school seniors - List Michigan college for consideration
- List preferred college first
83Office of Scholarships and Grants
- Michigan Merit Award
- 3,000 maximum award (2,500 high school and up
to 500 middle school) - High school amount is based on MEAP test scores
- Level 1 or 2 in math
- Level 1 or 2 in science
- Level 1 or 2 in writing
- Level 1 or 2 in reading
- Must take all four high school tests to be
considered for a Merit award. - Only students who earn a high school award are
eligible for a middle school award.
84Office of Scholarships and Grants
- Michigan Merit Award
- Eligibility Criteria
- Alternate A 1 or 2 in two MEAP areas combined
with qualifying ACT or SAT score - ACT 24
- SAT 1170
- Or
85Office of Scholarships and Grants
- Michigan Merit Award
- Eligibility Criteria
- Alternate B 1 or 2 in two MEAP areas combined
with qualifying scores on WorkKeys Job Skills
Assessment Tests - Reading for Information
- Applied Mathematics
- Locating Information
- Writing
86Office of Scholarships and Grants
- Michigan Merit Award
- Grade 12 seniors (Class of 2007)
- Encourage students to re-test in MEAP (Not MME)
- MEAP testing will be from March 12-30. Check
with your MEAP coordinator to see when your
school will be administering the tests
87Office of Scholarships and Grants
- Michigan Merit Award
- Grade 11 Juniors (Class of 2008)
- All juniors MUST take the Michigan Merit Exam
(MME) - Students must take ALL parts of the MME to be
considered eligible for a Merit award
88Office of Scholarships and Grants
- Michigan Merit Award
- Grades 11 and 12 Spring Administration
- March 13 ACT Plus Writing
- March 14 WorkKeys, reading Michigan
mathematics - March 14-21 Michigan science and social studies
(augmented) - March 27 Makeup ACT Plus Writing
- March 28 Makeup WorkKeys Michigan mathematics
- March 28- April 4 Makeup Michigan science and
social studies
89Office of Scholarships and Grants
90Office of Scholarships and Grants
- Michigan Merit Award
- Deadline for the class of 2006 to certify is
November 15, 2006, to use funds during the 06-07
academic year. - Deadline for the class of 2007 to certify is
November 15, 2007. - Class of 2007 awards are subject to approved and
available funding.
91Office of Scholarships and Grants
- Tuition Incentive Program (TIP)
- Phase I Pays up to 80 semester or 120 term
credits toward an Associates Degree or
Certificate - Not all 4-year schools offer Associates Degree
programs and, therefore, cannot participate in
Phase I.
92Office of Scholarships and Grants
- Tuition Incentive Program (TIP)
- Phase II Pays up to 2,000 for credits earned
in a 4-year program at a Michigan degree-granting
college or university. (Must have 56
transferable semester or 84 transferable term
credits or an Associates Degree or Certificate.) - Phase II Must be completed within 30 months of
completion of Phase I.
93Office of Scholarships and Grants
- Tuition Incentive Program (TIP)
- Must have been Medicaid eligible for 24 months
out of a 36 consecutive month period. - May be identified as early as sixth grade
- (age 12)
- Contact OSG if you suspect a student is eligible
and has not received a letter.
94Office of Scholarships and Grants
- Michigan Nursing Scholarship (MNS)
- Available for undergraduate and graduate study
- Award maximum - 4,000 per year
- Renewable
- Colleges select recipients
- Selection criteria some colleges use GPA and
some use need - Contact college to apply directly
- There is a work requirement that awardees must
complete or the scholarship reverts to a loan
95Office of Scholarships and Grants
- Campus-Based Programs
- State allocates lump sums to colleges and
colleges select eligible students for these
programs - Michigan Work-Study (undergraduate and graduate)
- Michigan Educational Opportunity Grant (MEOG)
- Michigan Adult Part-Time Grant (APTG)
96Office of Scholarships and Grants
- Robert C. Byrd Honors Scholarship
- Merit-based award
- Maximum award - 1,500
- Renewable for up to 4 years
- January OSG sends nomination form to each high
school principal and guidance office requesting
each school to nominate one student for the
award. - Deadline for return of nomination form is
- March 1st.
- Spring OSG notifies high schools of selected
recipients and sends certificates to schools. - June letter and form sent to recipients home
address.
97Office of Scholarships and Grants
- Summary
- Future programs dependent on annual legislative
initiatives and/or appropriations. - Stay tuned to Web site www.michigan.gov/studentai
d - OSG customer call center (toll free)
- 1-888-4-GRANTS (888-447-2687)
- OSG e-mail address OSG_at_michigan.gov
98Questions?
99Student Financial Services BureauOutreach
ServicesStephanie BogardNovember 14, 2006
100Paying for College in Michigan
- Promotes Michigan Financial Aid Programs
- General Information on Federal Financial Aid
Programs - Information on Applying for Financial Aid
- Resource for Searching for Scholarships
- College Planning Calendars for
- Juniors and Seniors
- Locations of Michigan Colleges
- and Universities
101Paying for College in Michigan
- Publication Requests
- Telephone 1-800-642-5626, Extension 37054
- Email sfs_at_michigan.gov
- Fax 1-517-241-0155
102Michigan Postsecondary Handbook
- Yearly Updates
- Profile Pages
- Proprietary School Program Inventory
- CIP Code Directory
- Occupational Programs Licensed by Other State
Agencies - Advanced Placement and Dual Enrollment
Policies - Appendix Information
103Michigan Postsecondary Handbook
- Every Other Year Updates
- Two- and Four- Year Colleges and Universities
Program Inventory - Distribution will begin in December 2006
- Publication Requests
- Contact Patty Hill
- Telephone 1-800-642-5626, Extension 36051
- Email hillpl_at_michigan.gov
- Fax 1-517-241-0155
104College Access Initiative
- Deficit Reduction Act of 2005 signed into law on
February 8, 2006. - Requires guaranty agencies to promote access to
postsecondary education - Career planning
- Planning for college
- Finding a college
- Paying for college
- New Web site launched on September 18, 2006
www.going2college.org
105Michigan GEAR UP/College Day
- Student Financial Services Bureaus role
- Provides Financial Aid Workshops to targeted
school districts. - Provides professional development opportunities
to middle and high school counselors and
educators. - Manages the Scholarship Fund.
106MGA Outreach Services
- Outreach Activities FY 06
- Financial Aid Presentations 58 events
- General Financial Aid
- Completing the FAFSA
- Scholarship Searches and Scams
- Early Awareness
- Lessons in Dollars two events
- Extreme Reality Program eight events
107MGA Outreach Services
- Outreach Activities FY 06
- High School and College Fairs 11 events
- Bureau-wide Initiative
- Five full-time staff
- 18 volunteers
- Training started in late January of 2005
108College Goal Sunday
- Date
- February 11, 2007
- from 200 to 400 p.m.
- Lansing site
- Lansing Community College West Campus,
5708 Cornerstone Drive -
109College Goal Sunday
- Opportunities
- Individualized help from financial aid
professionals - 2 computer labs available to file FAFSA on the
Web - Financial aid presentation on completing the
FAFSA and general financial aid information - Display booth with financial aid information
-
110Questions?