Basic Promissory Note Template by yfh72790

VIEWS: 635 PAGES: 35

Basic Promissory Note Template document sample

More Info
									   Access to Financial Aid for
     Higher Education for
      Homeless Students
  Marcia Weston, Director, College Goal Sunday
Janet Ingargiola, Director of Student Financial Aid,
       Danville Area Community College (IL)

• Technical and vocational
• Community colleges
• Tribal colleges
• Private colleges
• Public colleges/universities
• Costs can be found on each college’s web
• Each college sets its own tuition and fee
• Other costs may include books and supplies,
  room & board, student fees, etc.
• Contact the financial aid office for all costs
      Estimated Annual Cost
       of Attendance (COA)
• Tuition & Fees:       $4,548 - $27,829
• Books & Supplies:       350 -    1,000
• Room & Board:          4,100 -   6,696
• Transportation:          124 -   1,000
• Personal Expenses:     1,000 -   2,000
  Total:               $10,122 - $38,525
What is financial aid?
• Do not have to be repaid:
• Do have to be repaid:

Where does it come from?
Federal and state government, schools, employers,
and other public and private sources like clubs and
• Federal Pell Grant: need-based; annual award is
  set by the government and determined by EFC

• State Grant: Most are need based, however, some
  are merit-based

• Federal SEOG Grant: limited funding; priority given
  to students with exceptional need; given by college

• Academic Competitiveness Grant (ACG):
  completed rigorous secondary curriculum; GPA

• Institutional Grant: college or university funds
  awarded to students with financial need
       Work Study
• Part-time student employment

• Earnings paid to student
• Work-study earnings not included
  when determining EFC on next
  year’s FAFSA
• Should ONLY be used when all grants and scholarships
  have been exhausted!

• Federal Perkins Loan: interest and repayment begins nine
  months after school
• Federal Stafford/Direct Loan:
   – subsidized: no interest charged while in school
   – unsubsidized: interest accrues while in school-can be
• Federal PLUS Loan for parents of dependent students:
• Alternative/Private Loans
• PIN – Personal Identification Number
• EFC – Expected Family Contribution
  – What families/students can contribute
• SAR – Student Aid Report
• Package – From the college determining
  what the student has been awarded
• MPN – Master Promissory Note if the
  student needs to borrow
  Applying for Financial Aid
• Free Application for Federal Student Aid
• Complete school financial aid application
  (if required)
• Meet financial aid priority application
• Contact financial aid administrator if
  questions or to check on application
• Must apply for financial aid every year
• Electronic signature
• Keep and use every year
• Can apply and receive a PIN within five
• Can retrieve if lost
      FAFSA on the Web

• Completing and processing the FAFSA
  are free!
• Do not pay a fee to file the FAFSA.
  – DO NOT go to!
• Contact college’s financial aid office if
  you need help.
• College Goal Sunday offers free
  professional FAFSA help to low-income
      DEPENDENCY, Cont’d
• At any time when the student was age 13 or
  older, both of the student’s parents were
  deceased, the student was in foster care, or the
  student was a dependent/ward of the court.
• The student is now or was upon reaching the age
  or majority, an emancipated minor as determined
  by a court in his or her state of residence.
• The student is now or was upon reaching the age
  of majority, in legal guardianship as determined
  by a court in his or her state of legal residence.

        DEPENDENCY, Cont’d
• Student was determined to be an unaccompanied
   youth who was homeless or was self-supporting
   and at risk of being homeless by a director of a
   runaway or homeless youth basic center or
   transitional living program on or after July 1,
• Student is determined by the college financial
   aid administrator to be an unaccompanied youth
   who is homeless or is self-supporting and at risk
   of being homeless.
• Note: A financial aid administrator may also
   make a determination of independence with
   documentation of special circumstances, even if
 15the student initially files as a dependent.
      DEPENDENCY, Cont’d
• Student was determined to be an unaccompanied
  youth who was homeless by a high school or
  school district homeless liaison on or after July
  1, 2009.
• Student was determined to be an unaccompanied
  youth who was homeless by the director of an
  emergency shelter or transitional housing
  program funded by HUD on or after July 1,
     Developed by Casey Family Programs in cooperation with NASFAA, the
     California Community Chancellor's Office, Tracy Fried and Associates, and
     the National Association for the Education of Homeless Children and Youth.

• Verification must be made by:
   – a McKinney-Vento Act school district liaison
   – a HUD homeless assistance program director or their designee
   – a Runaway and Homeless Youth Act program director or their
   – a financial aid administrator.
• Verification template:
   – Legislation and Policy
• Students who may not fit into verification category:
   – Can request a “dependency override”; prepare documentation with letters
     from adults, clergy, other professionals who can attest to student’s situation
   – Use resources
       • NAEHCY, NCHE, College Goal Sunday
  What to do…and when?
 Continue to search and apply for scholarships.

 Complete the FAFSA (each year) as soon as
  possible after January 1 (usually done in Feb/Mar).

 Review estimated award letter (usually in April).

 Make college choice by May 1. (Does not apply to
  some schools.)
  More on what to do…and when?
 Respond if college requests more information.
  Student may be selected for verification and asked
  to submit documentation.

 Respond to actual financial aid award notice (often
  sent in June or July).

 Financial aid is disbursed to student’s college billing
  account at start of each semester.

 If awarded work-study, student obtains work-study
  job and begin working once school begins.
•   Financial aid director vs. front staff
•   One point person for student
•   Housing must be thought through
•   Training and awareness of needs
•   Asking for help
 National Association for the Education of
 Homeless Children and Youth (NAEHCY)

• FAFSA Tips for Unaccompanied Youth
  Without Stable Housing
• Helping Unaccompanied Homeless Youth
  Access College Financial Aid
• Income Tax and the FAFSA for
  Unaccompanied Homeless Youth
National Center for Homeless Education
U.S. Department of Education’s technical
assistance and information center in the area of
educating homeless children and youth
   Website:
     Information by Topic: Access to Higher Education

   Helpline: 800-308-2145 or
   Products
   Publications and briefs
              HEOA 2008 and

• Entities not using a cohort approach for
  GEAR UP must prioritize homeless
  children and youth and youth in foster care
  as priority students.

• Entities using a cohort approach for GEAR
  UP should include homeless children and
  youth and youth in foster care as priority
     Participating in GEAR UP
• Homeless students and unaccompanied
  youth are not required to obtain parental
  signatures in order to participate in a GEAR
  UP program.

• The school district liaison is able to verify
  that a student is homeless or an
  unaccompanied youth.
                HEOA 2008 and
• TRIO programs must “identify and make available
  services..including mentoring, tutoring, and other
  services provided…” to:
   – Youth in foster care
   – Youth who left foster care after age 13
   – Homeless children and youth
• All three groups are automatically eligible to
  participate in Talent Search, Upward Bound,
  Student Support Services, and Educational
  Opportunity Centers.
              TRIO, Cont’d
• Student Support Services has a new goal to
  foster an institutional climate supportive of
  the success of homeless children and youth.
  – SSS funds can be used to secure temporary
    housing during breaks in the academic year for
    homeless children and youth and foster youth.
• Federally-funded programs:
  – TRIO
• KnowHow2GO
  – Grades 8 - 10
• National College Access Network (NCAN)
  – National College Access Program Directory
 Where to get more information
• U.S. Department of Education:
• National Association of Student Financial Aid
• State Financial Aid Associations
• College Goal Sunday:
• FinAid! - The Financial Aid Information Page:
• FastWEB scholarship search:
• The College Board:
Where to get more information
Mapping Your Future
    Career searches; games; college searches,
    financial aid; counselor support
College Navigator:
Pathways to College Network:
Education Finance Council:
             Useful Web Sites for
             Students and Parents
• (Free application)
• (PIN-e-Signature application)
• (All about fed. Aid)
• (Juniors & Seniors)
• (Track your aid)
• (Financial Aid Information)
• (State Student Grants &
    Aid Programs)
           Scholarship Resources
              (Merit & Need)
•   Check Institutions, Colleges within the
    Universities and Majors, Local Organizations
    and Businesses, National Organizations and
    Businesses, and Local & National Foundations
                  Other Resources
National Network for Youth

National Law Center on Homelessness & Poverty

Foster Care Alumni of America

National Center on Homeless Education
            Other Resources Cont’d
Casey Family Programs (
•   It’s My Life: Postsecondary Education and Training, a guide that gives professionals
    the recommendations, strategies and resources to improve their work preparing
    young people for college access and success.

•   It’s My Life: Financial Aid, a guide intended for those primarily interested in
    helping young people find funding sources for college or vocational training.

•   Supporting Success: Improving Higher Education Outcomes for Students from Foster
    Care, a guide that provides program development tools for college counselors,
    administrators, professors and staff to help these education professionals define a
    plan for improving their institution’s support for students from foster care.

•   Casey Life Skills – Education Supplements, provides four levels of education-focused
    self assessments with Level II targeting high school students and Level IV for
    students in a postsecondary education and training program. These assessments
    provide students and caregivers and their advocates with valuable information
    pertaining to school success.
         Thanks for Joining Us!
• You will receive a follow-up e-mail shortly
   – Link to webpage where you can download handouts
   – Link to a brief, anonymous online evaluation; once
     your evaluation is completed, you’ll be directed to a
     webpage to download a certificate of completion, if
• Presenters Contact Information
   – Marcia Weston, Director, College Goal Sunday,
   – Janet Ingargiola, Director of Student Financial Aid,
     Danville Area Community College (IL),

To top