Your student needs to fill out the FAFSA -- NOW!!!

We at Do-Gooder Consulting really want to implore anyone with a student going to college - whether high school senior, returning student, or an adult even thinking about going to college - to fill out the Free Application for Federal Student Aid (FAFSA) NOW! Don’t wait! 

Back in our day, the FAFSA was filled out by hand. The financial aid officer also had to calculate by hand, which made the process long and strenuous. Any revisions would be equally as long , so it was suggested that students wait until taxes were done before submitting the FAFSA. That allowed families to make copies of tax forms, and provide accurate information. Financial aid programs like the Illinois Monetary Assistance Program (MAP) grant were able to provide money up until classes actually began.

However, technology, especially through the web and computers, has completely changed the process - for the better.  Using www.FAFSA.gov families can quickly input (and change) information.  Most people send their taxes in online, whether by using an application at home such as Turbo Tax, or going to a professional such as H & R Block, or even most independent accountants.  That information can then be easily downloaded via the IRS Retrieval Tool. That one click often replaces the photocopies and mailings and calls to the financial aid office of the past.

The downside of the technology upgrades is that since it makes it easier to fill out applications for financial aid, more people know about the opportunities and are rushing to take advantage of it.  We talked about the shrinking MAP deadlines in the past. Even though the state of Illinois is having problems now with disbursing MAP funds for the current year, in order to possibly funds for the next school year (2016-2017), Illinois residents need to fill out the FAFSA within the next week.

We previously wrote about MAP deadlines, with 2015 running out by approximately Valentine’s Day (Feb. 14). Below is our projections for when MAP money will run out not just for the upcoming school year, but the school year following.

In looking at the graphic, you may have noticed that our projection for the end of MAP money is the middle of this November. That’s because of some major changes with the FAFSA for the next school year. Do-Gooder Consulting documented these changes in an earlier blog.

There are some good reasons for this change.  The earlier deadline, which now coincides with many college application deadlines. This allows students to make a timely decision to see if a college is a good fit not just academically but also financially. See our graphic below for details on the need to have both a completed FAFSA and a college application that is not just completed, but accepted by the college.

The main trouble will be for families who have returning students. They will think “Didn’t we just fill this out?”  And that feeling is justified, as it may have been 8 months or less when they filled out the FAFSA.  That is going to require a change in mindset. For years, Do-Gooder Consulting has advocated FAFSA completion sessions at the beginning of the year. We have worked with churches to do such a session following their service on the first Sunday of January.

Now, we encourage churches to hold such a session in October or if needed, November. Nonprofits can work with families with holding evening sessions, or also during the day if the families have Columbus Day or Veterans’ Day off.  It’s a huge shift in scheduling, and may conflict with other activities. But if going to - and graduating - college is a priority, then lifestyle changes need to be made.

So please, plan accordingly, so your student can get the best financial aid possible. If you are part of a church or nonprofit (or even business that wishes to maximize help for your employees, customers and their families), please contact us at Do-Gooder Consulting, and let’s see how we can work together for the best interest of students. We would be happy to help you organize a coalition of organizations to maximize resources and impact. Feel free to call or text Do-Gooder Consulting at 872-222-8008 or e-mail at  blog@do-gooder.us

JP Paulus on V103 THIS Sunday

Do-Gooder Consulting President JP Paulus will be on V103's Sunday call-in show "Chicago Speaks with Darryl Dennard".

He should be on some time between 6:30pm - 7:30pm (depending on topics and guests) on Sunday, February 7.

You can listen by tuning into 102.7 FM, or online by clicking this link. V103 is part of the iHeartRadio network, and can be found on their app and website, if you'd like to listen online.

2 weeks ago, Chicago Speaks featured the MAP Grant crisis in Illinois, where the current state budget crisis is preventing the Illinois Student Assistance Commission from disbursing funds to colleges. Because of Chicago State University's current budget issues, the lack of MAP (Monetary Assistance Program) money is causing even larger problems, which is prompting quicker action.

That inspired JP to share his recent blogpost about 2016 MAP Deadlines and the new FAFSA opening date. Despite the current crisis, students will still have to plan for next year, as ISAC won't suspend their normal process. Also, the Free Application for Federal Student Aid (FAFSA) will have an earlier deadline.  JP will talk about those issues on this Sunday's show.

Now, breaking events could bump JP from the lineup, but plan to hear him some time between 6:30pm - 7:30pm

We hope you can tune in. You can also call in with questions at 312-591-8103.

Darryl M. Dennard, host of "Chicago Speaks" on V103, 102.7 FM in Chicago

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Plan your FAFSA Completion session now

In our previous entry, we talked about the why of filling out your FAFSA early (i.e. the first week of January).  With this post, we'd like to make some suggestions as to how, when and where to make these plans now, do you can be prepared later.

  

High schools are closed during winter break, yet the need exists. Your church or nonprofit could be a perfect location to complete the FAFSA.

If you are part of a church ministry, or have partnerships with churches, the first Sunday in January could be a GREAT opportunity to host a FAFSA completion event. We have written about that here. (We'll provide an updated entry in a few weeks)

What/who you need for a FAFSA completion session:

• Computers - they can be desktops, laptops, or even tablets
• Internet access, preferably wireless.  While wired internet access is fine for desktops, and laptops with appropriate cables, wireless would be better for devices owned by families (who might want that extra layer of privacy)
• An expert on completing the FAFSA. Do-Gooder consulting can provide such an expert, with even a short Powerpoint presentation to cover common issues and concerns. If we are unavailable, we can coordinate with other experts to help you.

As to the when, here are some dates you might consider planning a FAFSA completion session

• New Year's Day. This is the first day you can fill out the FAFSA for the 2015-2016 school year. While the morning might not be the best time (as people are recovering from New Year's Eve celebrations, the afternoon could work. Most parents have the day off, and could come to your facility.
• The first Saturday after the New Year's. Many families will be available for a session.
• On Sunday afternoon immediately after church, when most members are still in the building
• Any weekday during the first week of January. Some families might work during this week, but some returning student and some working families might have
• Martin Luther King Holiday. While this is a little later than we prefer, as of this writing, you can still beat most deadlines 

Just as a reminder of the importance of this planning, here's the graphic from our previous entry.

We can help you and your organization. We might be able to supervise a FAFSA completion session. If not, we can coordinate a session with experts who can help you during your desired sate. We will then follow-up to make sure the work of your families is completed, and they can receive the maximum financial aid.

Please contact us at Do-Gooder Consulting at 872-222-8008 or web@do-gooder.us to see how we might be able to help.

MAP Grants deadlines are shrinking

Why fill out the FAFSA on (or around) January 1, New Year's day?? Look at our infographic, followed by our explanation.

We have 4 dates listed, with 3 being approximately the same time every year:

1. FAFSA (Free Application for Federal Student Aid)  is open on this date. This is always January 1.
2. The Federal Tax deadline is almost always April 15 (with a couple of exceptions, usually April 16 or 17 at the latest)
3. The first day of college (for many colleges on the semester system), approximate the 2nd Monday in August or so.
4. The cut-off of the MAP grant. We will explain this below

In the"old days" of the FAFSA (back when the FAFSA was exclusive filled out on paper), we were told to fill out the FAFSA after taxes were done. This was because recalculating financial aid was done by hand, and so by giving estimated information created a lot of lot of work and time delay for the financial aid officers.

With the wonders of the internet and computer automation,  this process is much easier. Results can be done within days, if not hours (as opposed to several weeks "back in the day"). Verification can be done with a click of a button (where the FAFSA can verify info in the IRS database).

So now, you are not making it hard for financial aid officer to give you an award.

Because of the early submission of financial aid information, many grants and scholarships are running out of money much earlier in years past. Illinois, for example, offers the MAP (Monetary Assistance Program) grant, worth up to $4,800. For many years (even up to 2007),  this grant was available to some students even up to very close to start of school in August.  But over the years, that deadline has been pulled back. In just a few short years, that deadline was just before taxes were due on April 15.  This calendar year (2014), the deadline was February 28. For 2015 (a few months from now), that deadline could be even earlier.

Next time we'll talk about setting up a FAFSA completion event, with thoughts on how to best schedule it and who to partner with.

Please contact us at Do-Gooder Consulting at 872-222-8008 or web@do-gooder.us to see how we might be able to help.

MAP Grant runs out on Feb 27!

The Illinois MAP (Monetary Assistance Program) grant is cutting off applications on February 27. This grants is for Illinois students who go to college in Illinois (undergraduate degree).

The way to apply for the MAP grant is to fill out  the FAFSA (Free Application for Federal Student Aid). The website for filling out the FAFSA online is www.FAFSA.gov

You can read articles from Do-Gooder consulting on the FAFSA by clicking here.

A finished FAFSA (and you can estimate last year's income based on previous tax forms and financial statements), and an accepted college application will allow the financial aid office to process your financial aid request, and factor in the MAP grant if appropriate.
The original press release from the Illinois Student Assistance Commission is here --> http://www.isac.org/e-library/partner-e-messages-and-newsletters/counselor-e-messages/eLibrary_Counselor_2014_0225.html

The Illinois Student Assistance Commission (ISAC) is suspending the announcement of 2014-15 Monetary Award Program (MAP) grants for all students whose initial 2014-15 Free Application for Federal Student Aid (FAFSA) is received by the Central Processing System (CPS) on or after Friday, February 28, 2014.

We are making you aware of the suspension of 2014-15 MAP awards to assist you as you counsel your college-bound seniors regarding financial assistance that may be available to them for the 2014-15 academic year.

High school seniors who plan to be enrolled in college for the 2014-15 academic year, but do not submit a FAFSA prior to February 28, should still be encouraged to do so as soon as possible at FAFSA on the Web. FAFSA results are used to determine eligibility for other forms of federal and state financial assistance. The suspension of 2014-15 MAP award announcements does not impact any other financial aid programs.

In addition, encourage your college-bound students (and their families) to visit the Students & Parents area at isac.org for information regarding the financial aid process.
You are receiving this message because you registered for ISAC's e-Messaging service through one or more subscription groups for Counselors.

If you have any questions regarding this e-Message, please contact ISAC's School Services Department by calling toll free at 866.247.2172 or sending an e-mail message to isac.schoolservices@isac.illinois.gov

Please fill out the FAFSA right NOW!

Fill out the FAFSA January 1st!

(The following article is (c) 2012 by J.P. Paulus. This may article may be reproduced ONLY with the permission of the author.)

The Free Application for Federal Student Aid, known as the FAFSA, is the backbone to getting federal and state financial aid for college. If you have a student going back to college, or starting for the first time next fall (or even thinking about it), then you as a family need to fill out the FAFSA, and do it as soon as you can right after January 1^st.

A completed FAFSA puts you in line for financial aid, not just on the federal level, but also for states, and other resources. (Scholarships are different category, and need another type of application and a separate article.)

The FAFSA is a key form used by the US Department of Education, much in the same way the 1040 is the fundamental form for the IRS.  After you fill out the FAFSA, you will receive a number called the Expected Family Contribution, or EFC. But rather than the number that you should expect to pay, consider the EFC more like a credit score – a measurement of your financial need. An EFC of 0 (zero) would qualify you for the maximum amount of federal and state aid, if it is available through the school.

In order to fill out the FAFSA, you need to make sure that you go to www.FAFSA.GOV and NOT the FAFSA.COM website. You might not trust the government for many things, but you can trust a .gov website.  Also, there is no reason for you to pay money to fill out the FREE application for federal student aid (which FAFSA.com will do).

There are three items that are important to filling out the FAFSA:

1.       Social security cards

2.       W2 Forms

3.       Bank statements

The student needs the social security card, not just for the number, but also the correct spelling of the student’s name on the card. Any mistakes or variations (like a nickname) can cause serious problem. The parent, however, does not need a social security card or number, though it is helpful.

A driver’s license or state ID can also expedite the process.

W2 forms are needed from the parents (and the students, if available). Please note that providing this information does not obligate the parent to pay for any of their child’s education.  And if you (as a parent) feel you don’t make enough money to contribute anything to your child’s education – then you contribution to this section will actually help your child get more financial aid than perhaps if they filed as an independent student.

Bank statements also provide a snapshot of a family’s financial strength.

Parents who filled out the FAFSA back when they went to school need to make sure they have a shift in their mindset. In the “olden” days” of the FAFSA (back when our family filled out the FAFSA), the conventional wisdom was that you filled it out after taxes. The idea was that the paperwork was hard to update and very cumbersome, and you would need to send in copies of forms to “verify” any estimates, which would delay your financial aid. The time, and the opportunity for information to get lost, were very legitimate concerns back then.

With the modern wonders of the web, FAFSA now has a one-click tool where you can download your tax information, as long you filed electronically (such as TurboTax, or a professional service such as H&R Block).  And rather than calculate each student (and each update) by hand, the computer can easily calculate and update information, so financial aid officers actually embrace this method of estimating your FAFSA information.

Students can fill out the FAFSA anytime after January 1. So right after you say “Happy New Year!”, you can do it. Or, more likely, when you wake at 3pm in the afternoon.

This can also be a great event for churches after Sunday service. If you have access to a computer lab, one advisor can help several families through the FAFSA process.

Who should fill it out? Obviously, those going into college next year, but especially returning students, and even adults who are even just thinking about going to college. There’s no obligation to go to a specific college by filling out the form. You can easily change which colleges receive your information. And again, for parents, there is also no legal obligation to pay for the college education, even though you have given your information.

Another reason to fill out the FAFSA: colleges can not give you a financial aid package without the FAFSA being completed. You will also need to have been accepted at that college as well, because good colleges will not offer money to students they don't think will succeed at their school. 

We must emphasize once more, it is vital that students fill out the form as soon as possible, after January 1.

For example, in Illinois, the MAP grant is worth up to $4820. Again, in the “olden” days, the MAP grant money ran out by August (when most schools start their fall semester). In 2012, the money ran out March 23, which is a month before taxes are due (and usually done).

There is much more information that could be shared. But one last note to consider: the FAFSA is just a snapshot of a family’s financial situation. Colleges are aware that things happen. The key to getting exceptions to financial aid (called professional judgment) is documentation. The FAFSA is the prime example of it, but certainly not the limit. Contact your financial aid office if you think the EFC does not accurately reflect your family’s situation. 

Here are important links to see

• www.FAFSA.gov (direct web address to the FAFSA)
• www.studentaid.gov (US Dept. of Education’s website on financial aid and the college-going process)
• www.knowhow2go.org (a national campaign to help students go to college)

Individuals who need help with financial aid issues should go to www.studentaid.gov or call 800-4-FED-AID (in Illinois, they can go to www.ISAC.org or call the Illinois Student Assistance Commission at 800-899-4722 ).

JP Paulus of Do-Gooder Consulting works with churches and nonprofits, and even businesses to help them integrate college access training into their programs. More information is available at www.do-gooder.us