Agenda

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FAFSA BASICS

• How do I apply for the FAFSA (Free Application for Federal Student Aid)
• What is a Contributor?
• Dependent Vs Independent
• Types of Federal Financial Aid
• What are Federal Direct Student Loans?
• COF (Colorado Opportunity Fund)
• CASFA (Colorado Application for State Financial Aid)
• Scholarships
• Questions

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How do I apply?

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Start with the FAFSA

Free Application for Federal Student Aid (FAFSA)

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• Apply Early! grants/work aid are awarded on a first-come-first-served basis

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• 2526 FAFSA Application. Utilizes Federal Taxes from 2023.
• 2627 FAFSA Application. Utilizes Federal Taxes from 2024.

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https://studentaid.gov/h/apply-for-aid/fafsa

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TAX AND OTHER DOCUMENTS NEEDED

Students and Contributors

Social Security Numbers

W-2 Forms & other records of money earned in Prior Prior year

2526 FAFSA Application will go off 2023 Federal Taxes.

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(2627 FAFSA will utilize Federal Taxes from 2024)

If applicable, any records of family farms such as the fair market value of land, buildings, livestock, machinery and unharvested crops.

Any records of business assets along with savings and checking account information

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FSA ID/StudentAid.gov Account Process

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https://studentaid.gov/fsa-id/create-account/launch?continueTo=fafsa

• Improved process for creating FSA/ID and Password
• Real-time identity verification for those with Social Security Number
• No longer need to wait 1-3 days for confirmation
• Once verified, immediately available for importing tax information

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• Create username & password
1. Name
2. DOB
3. Social Security Number
4. Email address (Personal)
5. Challenge question answer
• Will receive email to confirm you email address using secure code

StudentAid.gov Account Without SSN

• Personal Information
• Account information
• Contact Information
• Communication Preferences. Email (Recommended for faster delivery)
• Challenge Questions
• Confirm and Verify

FAFSA Home Screen

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Start with the FAFSA

https://studentaid.gov/

This is the main FAFSA® landing page. On this page, students are directed to "Start New Form," "Edit Existing Forms," or "Accept an Invitation." For this section of the presentation, the student is beginning a new application.

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DEPENDENT STUDENT LOG IN

If the student selects "Start a New Form" from the FAFSA^® landing page and they are not logged in to StudentAid.gov, they are taken to the “Log In” page to enter their log-in credentials. To access the FAFSA form, all students are required to have an FSA ID (Federal Student Aid account username and password). If the student doesn't have an FSA ID, they can select "Create an Account."

https://studentaid.gov/

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Student/Contributor Invitation Process

• Student or parent can begin process
• Asked to identify their role
• Invitation code in email
• Link in Email

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WHO IS CONSIDERED A CONTRIBUTOR

If contributor information is required on the FAFSA, the question is: who is considered a contributor? There are several different answers to this question depending on the situation.

Parents who are Married- You must answer questions about both parents; includes valid same-sex marriages.

Widowed or single parents – use information for that parent

Adoptive Parents – answer questions about both adoptive parents

Divorced/Separated Parents -The parent who provided the greater portion of financial support has to include their income information on the FAFSA. It does not matter who the student lives with.

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Remarried Parents – must include stepparent income/asset information

DO NOT use information from:

• legal guardian
• foster parent
• grandparents, older brothers or sisters, uncles or aunts (Unless Adopted)

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SUBMITTING THE FAFSA

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Online application is fastest (48-hour turnaround)

FSA ID (Personal Identification Numbers) - Student & 1 Contributor need to: (If Contributor is required)

• Electronically sign FAFSA
• Check processing status
• Make corrections
• Electronically sign student loan Promissory Note

1-800-4FEDAID for assistance

DEPENDENT vs INDEPENDENT STUDENTS

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Can you as the student answer “Yes” to any of the following…

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• Are you 24 years old or older?

• Are you married?

• Have you earned a professional degree such as a Master or Doctorate Degree?

• Active duty in the U.S. Armed Forces?

• Are you a military veteran?

• Do you have children who receive more than ½ support from you? Unborn children can’t be included in the FAFSA application as a dependent.

• Are there special circumstances such as were you ever in Foster Care, Legal Guardianship, or at Risk of Homelessness?

• What is a Dependency Override?

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TYPES OF FINANCIAL AID

GRANTS

Federal, State, or Institutional

Does not have to be paid back.

Work-Study

Part-time work around your class schedule

Paid hourly

Set maximum hours

STUDENT LOANS

(Federal Direct)

NEED

vs.

NO-NEED

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SCHOLARSHIPS

Do not need to be paid back

Maintain certain requirements

REQUIRE THE FAFSA TO BE FILED

Federal Loans for students (Stafford Loans) and parents (PLUS loans)

Paid back at federally-backed low interest rates with helpful terms

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FEDERAL DIRECT STUDENT LOANS

• In student’s name
• No credit check/income verification
• No monthly principal payments = 6 credits
• 6-month grace period before repayment

Subsidized

• Need-based
• 6.39% Interest Rate
• Fee = 1.057%
• Government pays interest while in school

UNsubsidized

• Not need-based
• 6.39% Interest Rate
• Fee = 1.057%
• Student pays interest/ accrues while in school & during grace period

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while in school

• Not based on income or assets
• Available for undergraduates only
• Paid directly to the college to reduce tuition & fees balance due
• Must apply – just one time at https://cof.college-assist.org/
• Must authorize COF every semester after
• Available to Colorado residents only

COLORADO OPPORTUNITY FUND/COF

• Pays a portion of total in-state tuition per credit hour…$116.00 per credit hour at public 2/4-year colleges & universities (2023-2024)

= approx. $1,392.00 p/term for 12 credit hours

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https://cof.college-assist.org/

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while in school

What is the CASFA?

• CASFA can also be used to potentially qualify for institutional aid
• CASFA determines need and award eligibility for Non-U.S. Citizens in an attempt to close the equity gap for those not eligible for federal financial aid

https://cdhestudentxprod.regenteducation.net/signin

CASFA is for students who are not eligible for Federal Student Aid, undocumented students or students from mixed status families or other situations who prefer not to share their contributors' personal data beyond Colorado higher education institutions. Students who complete a CASFA are applying for State and institutional aid only (NOT Federal Student Aid).

• Advancing Students for a Stronger Economy Tomorrow (ASSET) students. All Non-U.S. Students are encouraged to complete the CASFA
• Colorado high school graduates, or those who have been physically present in Colorado for at least one (1) year prior to successfully completing a high school equivalency examination (GED)
• Students who have been physically present in Colorado for at least one (1) year prior to enrolling in a college/university
• If you are eligible to receive federal financial aid, you should complete the FAFSA, not CASFA

while in school

CASFA CONTINUED…

while in school

CASFA CONTINUED.. CONTINUED…

What will I need to submit?

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• Official Colorado High School Diploma, Colorado High School Transcripts with graduation date listed, or GED, and documentation demonstrating at least one (1) year physical presence in the state of Colorado leading up to enrollment in an institution
• Student Federal Tax Returns (1040s)
• 2023 taxes for the 2025-2026 CASFA
• Parent(s) Federal Tax Returns (1040s)
• 2024 taxes for the 2026-2027 CASFA

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WHERE TO FIND SCHOLARSHIPS

High School Counselors

Local businesses

Religious organizations

Places of employment

Networking – Facebook, Twitter, social gatherings, neighbors

Internet

https://ccaurora.edu/admission-aid/financial-aid/scholarships/

College(s) student is interested in attending

• Admissions/Financial Aid

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TIPS: APPLYING FOR SCHOLARSHIPS

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CCAURORA.EDU

COF.COLLEGE-ASSIST.ORG

STUDENTAID.GOV

STUDENTAID.GOV

FSAID

CASFA

SCHOLARSHIPS

QR CODES FOR HELPFUL LINKS

My Contact Information

Darin Wissbaum�Advising and Outreach �Financial Aid Office�303-360-4765�303-360-4709

Darin.Wissbaum@ccaurora.edu

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