WEBVTT 00:00:00.040 --> 00:00:02.090 Kathleen is able to share that with us. 00:00:02.300 --> 00:00:05.490 That we may be able to post it on the Shelton High website. 00:00:05.500 --> 00:00:09.350 Um I think the website can handle it or at the very least a link 00:00:09.360 --> 00:00:14.110 to the video but we will work that out shortly after maybe later 00:00:14.110 --> 00:00:16.450 this week or by early next week. 00:00:23.440 --> 00:00:27.030 Okay so I think we should get started Kathleen, 00:00:27.030 --> 00:00:31.530 is that alright with you? Yeah I'm ready whenever. Sounds great. 00:00:31.540 --> 00:00:37.310 Okay so we'll make it official. Um It's almost 6 35. 00:00:37.320 --> 00:00:40.580 Good evening everybody um Really appreciate those of you who 00:00:40.580 --> 00:00:43.310 have taken the time to join us. My name is eric mart eerie. 00:00:43.310 --> 00:00:47.420 I'm the counseling curriculum leader for the city of Shelton, K. 00:00:47.420 --> 00:00:50.620 To 12. My office is here in the high school for those of you, 00:00:50.620 --> 00:00:51.440 I don't know. 00:00:51.440 --> 00:00:55.430 And among a whole bunch of other jobs you know such as test 00:00:55.430 --> 00:01:00.110 coordinating and um working on curriculum and you know the 00:01:00.110 --> 00:01:03.070 delivery of counseling curriculum at all grade levels. 00:01:03.080 --> 00:01:06.380 Um Post graduation planning is definitely right at the top of 00:01:06.380 --> 00:01:09.850 the list of how I spend my time all year long. 00:01:09.860 --> 00:01:14.100 And um you know here at the high school I think we know very 00:01:14.100 --> 00:01:17.180 very well how difficult the past two years have been for 00:01:17.180 --> 00:01:18.540 students and families. 00:01:18.550 --> 00:01:21.490 Uh It's been a real challenge for everybody involved in 00:01:21.490 --> 00:01:27.060 education to get back in the swing of things and we we want to 00:01:27.070 --> 00:01:29.750 do all that we can to help ease that. 00:01:30.040 --> 00:01:32.780 And so I think we're making progress there. 00:01:32.780 --> 00:01:36.850 We we know that you know whereas you normally had opportunities 00:01:36.850 --> 00:01:41.040 to Visit schools in person more than we have over the past two 00:01:41.040 --> 00:01:45.220 years and to attend functions at school more than we have. 00:01:45.230 --> 00:01:49.540 Um we, I do think we're making a nice rebound in providing the 00:01:49.540 --> 00:01:52.450 information that parents need to be ready for college 00:01:52.450 --> 00:01:55.690 applications, especially you've seen your parents. 00:01:55.700 --> 00:02:00.470 Um we hosted our annual college fair this year in person back on 00:02:00.470 --> 00:02:04.350 September 27. That was a major victory as far as I'm concerned, 00:02:04.350 --> 00:02:07.470 we had a great turnout and students, parents, 00:02:07.470 --> 00:02:11.170 the college reps especially were rarely excited to be back in 00:02:11.170 --> 00:02:14.340 person talking with students and families. 00:02:14.640 --> 00:02:17.910 Um a few other things that I want to make sure you're aware of 00:02:17.920 --> 00:02:21.000 that we're doing here at Shelton High to try to keep students on 00:02:21.000 --> 00:02:23.460 pace um and keep them informed. 00:02:24.240 --> 00:02:30.440 Um We had a series of senior common application seminars that we 00:02:30.440 --> 00:02:33.260 ran during senior lunch periods. 00:02:33.270 --> 00:02:36.980 Uh those were tutorials to help students create common 00:02:36.980 --> 00:02:38.250 application accounts, 00:02:38.340 --> 00:02:41.530 review their status in their non Beyonce account, 00:02:41.530 --> 00:02:46.200 which is what we use to send school documents uh to colleges and 00:02:46.200 --> 00:02:47.630 how to connect those two. 00:02:47.640 --> 00:02:50.550 Um you know, if students are still a little bit unclear on that, 00:02:50.550 --> 00:02:53.080 they can certainly follow up with their counselor individually 00:02:53.080 --> 00:02:56.700 for our seniors primarily who need that at this time. 00:02:56.710 --> 00:03:00.610 Um We also bring college representatives to Shelton High school, 00:03:00.610 --> 00:03:03.560 both in person and virtually throughout the fall. 00:03:03.740 --> 00:03:09.160 Um we've been hosting 23 or four reps per day uh since october 00:03:09.160 --> 00:03:12.800 began and will continue to do so through november. 00:03:12.810 --> 00:03:15.060 Again, some of those visits are virtual, 00:03:15.060 --> 00:03:17.970 like we're doing right now and some of them are in person. 00:03:17.980 --> 00:03:20.920 Um and the mix has been great. 00:03:20.920 --> 00:03:23.590 It kind of depends on what the college representatives are up 00:03:23.590 --> 00:03:26.800 for. Certain schools have their own policies as well, 00:03:26.810 --> 00:03:31.260 but our students can continue to sign up for those visits 00:03:31.260 --> 00:03:32.920 through their non Beyonce account. 00:03:32.930 --> 00:03:36.510 They can also visit the career center um and speak with Mrs cove 00:03:36.510 --> 00:03:38.560 RC if they have questions about how to do that, 00:03:38.640 --> 00:03:43.420 it's an awesome opportunity for them. Um We also are, you know, 00:03:43.430 --> 00:03:46.840 really kind of just trying to get the word out again via like 00:03:47.140 --> 00:03:51.560 email blasts to the senior um Each counselor has, you know, 00:03:51.570 --> 00:03:53.280 um like senior google classrooms, 00:03:53.280 --> 00:03:56.590 just like classroom teachers do and anytime we learn of virtual 00:03:56.590 --> 00:03:59.790 college fairs or information about college visits happening, 00:03:59.800 --> 00:04:02.570 we're blasting those out as well and we're doing morning 00:04:02.570 --> 00:04:05.380 announcements through the gale news. Um, 00:04:05.380 --> 00:04:09.140 so it's a great time to remind you that colleges are hosting in 00:04:09.140 --> 00:04:14.050 person, open houses. Again, some some still doing virtual only, 00:04:14.240 --> 00:04:18.580 but this fall is a great time to check that out and to get back 00:04:18.580 --> 00:04:22.330 out there and see what you can see um as well as using some of 00:04:22.330 --> 00:04:23.370 our main resources, 00:04:23.370 --> 00:04:26.660 such as the non Beyonce website and college board to do uh 00:04:26.670 --> 00:04:27.670 student research, 00:04:27.680 --> 00:04:31.480 um a lot of the information that you're going to hear tonight, 00:04:31.490 --> 00:04:35.210 um we will um kind of duplicate or may, you know, 00:04:35.210 --> 00:04:38.220 may have in certain like printed articles on the Shelton high 00:04:38.220 --> 00:04:41.260 school counseling web page on the SHS website. 00:04:41.440 --> 00:04:44.710 We've got a lot of important links for our seniors as well. 00:04:44.720 --> 00:04:48.690 And and and this event tonight is just one more example of, 00:04:48.700 --> 00:04:51.040 of the things we're trying to do to make sure that you have the 00:04:51.040 --> 00:04:54.090 information in your hands uh to make smart decisions. 00:04:54.100 --> 00:04:54.990 So we're really, 00:04:54.990 --> 00:04:58.220 really excited to have Miss Kathleen Finland from Sienna College 00:04:58.220 --> 00:05:01.660 here too to present some financial aid information. 00:05:01.840 --> 00:05:04.880 Miss Finland is both the Director of financial Aid at Sienna 00:05:04.880 --> 00:05:08.210 College and is the head cheer coach there as well. 00:05:08.210 --> 00:05:10.640 So I'm not quite sure how she pulls that off. 00:05:10.940 --> 00:05:16.410 Um but that those are two major undertakings and um we're really 00:05:16.410 --> 00:05:20.250 grateful that Sienna and and Miss Finland have offered to do 00:05:20.250 --> 00:05:24.190 this for us uh specifically for our Shelton community. 00:05:24.200 --> 00:05:28.940 Um and so you will have an opportunity to post questions. 00:05:28.950 --> 00:05:33.020 Um the best way to do that will be in the chat and Miss Finland 00:05:33.020 --> 00:05:37.130 is going to do her best to answer those questions periodically 00:05:37.130 --> 00:05:38.470 throughout her presentation. 00:05:38.480 --> 00:05:41.170 I'll do my best to help stay out of the way, 00:05:41.170 --> 00:05:45.210 but also whatever she asks as far as uh admitting people into 00:05:45.210 --> 00:05:47.530 the meeting and then also uh you know, 00:05:47.530 --> 00:05:49.440 monitoring that chat a little bit. 00:05:49.450 --> 00:05:52.480 So thank you all again for being here please, 00:05:52.490 --> 00:05:54.330 if you have questions as a follow up, 00:05:54.330 --> 00:05:57.390 please don't hesitate to reach out to your students counselor. 00:05:57.400 --> 00:05:59.020 Um, I can say that they're very, 00:05:59.020 --> 00:06:01.420 very busy right now at this time of year, 00:06:01.430 --> 00:06:05.950 primarily helping the seniors plan for life after high school. 00:06:06.040 --> 00:06:08.070 Um, you know, we're doing the P. S. A. T. 00:06:08.070 --> 00:06:11.010 Tomorrow and so that's another biggie that we're getting ready 00:06:11.010 --> 00:06:13.660 for. But all of this just to help students, you know, 00:06:13.660 --> 00:06:16.040 gather information for their post grad options. 00:06:16.340 --> 00:06:18.380 Um, so without further ado, 00:06:18.390 --> 00:06:22.340 Miss Kathleen Finland from Sienna College. Thank you very much. 00:06:22.640 --> 00:06:25.500 Thank you. I'm really excited to be here with you guys. 00:06:25.510 --> 00:06:27.050 Um, as he mentioned, 00:06:27.060 --> 00:06:30.610 feel free to throw any questions that you guys have in the chat 00:06:30.610 --> 00:06:33.490 box as I go. Um, I often find with, 00:06:33.490 --> 00:06:35.570 financially that if I lose you at one point, 00:06:35.570 --> 00:06:36.360 I don't get you back. 00:06:36.360 --> 00:06:38.620 So it's better to get your questions in as we go. 00:06:38.630 --> 00:06:41.330 Um, and I'll be happy, I will keep an eye on that. 00:06:41.340 --> 00:06:42.750 Um, if, for whatever reason though, 00:06:42.750 --> 00:06:44.670 I miss your question bother me at the end. 00:06:44.670 --> 00:06:46.180 I'm happy throw back in there. 00:06:46.180 --> 00:06:47.510 Don't feel like you're being annoying. 00:06:47.520 --> 00:06:50.290 Um, but I will try to keep my eyes on it. 00:06:50.290 --> 00:06:54.290 So we make sure we get all your questions answered. 00:06:54.640 --> 00:06:56.980 So the first slide that we always like to start off with this, 00:06:56.980 --> 00:06:59.610 this first one. Um, that there's this myth out there, 00:06:59.610 --> 00:07:03.690 that students will pay sticker price for college sticker prices, 00:07:03.690 --> 00:07:07.450 that scary number when you go to colleges website um that sounds 00:07:07.450 --> 00:07:10.530 super daunting and terrifying for every family when they pull up 00:07:10.530 --> 00:07:11.650 that college website. 00:07:11.740 --> 00:07:15.330 Um and we really like to emphasize the fact that most students 00:07:15.330 --> 00:07:18.550 will not be paying that scary sticker price number for college, 00:07:18.740 --> 00:07:19.310 For instance, 00:07:19.310 --> 00:07:23.270 at CNN 97% of our students receive some form of financial aid. 00:07:23.280 --> 00:07:26.210 Um so it's really important that if your student has a school 00:07:26.210 --> 00:07:28.780 that they really connect with that they really feel like will be 00:07:28.780 --> 00:07:29.880 a good fit for them, 00:07:29.890 --> 00:07:33.490 but the number that sticker price is scaring you go ahead, 00:07:33.490 --> 00:07:37.100 apply fill out that FAFSA and send it into the school because 00:07:37.100 --> 00:07:41.670 you just never know what the financial package may look like as 00:07:41.670 --> 00:07:42.830 I go through tonight. Um, 00:07:42.840 --> 00:07:45.890 I am going to tell you guys the general financial aid process 00:07:45.890 --> 00:07:47.090 for most colleges, 00:07:47.100 --> 00:07:49.330 there will be at certain points where I'll tell you a little bit 00:07:49.330 --> 00:07:50.980 about how we do it at Sienna, 00:07:50.990 --> 00:07:53.510 but also tell you that there's a certain point where you're 00:07:53.510 --> 00:07:55.530 going to want to touch base with the schools that your students 00:07:55.530 --> 00:07:58.360 applying to, if it's not Sienna, that's totally fine. 00:07:58.360 --> 00:07:59.650 But I will let you know, 00:07:59.740 --> 00:08:01.690 make sure you're chatting with the school to find out how they 00:08:01.690 --> 00:08:03.030 do X, Y or Z. 00:08:03.040 --> 00:08:05.930 Um, just to make sure that you guys have the most up to date and 00:08:05.930 --> 00:08:08.930 important information for filling out the financial aid for your 00:08:08.930 --> 00:08:11.240 student and the schools that they're interested in. 00:08:11.540 --> 00:08:13.560 So the first thing that you're gonna want to do if you're a 00:08:13.560 --> 00:08:14.570 senior in the room, 00:08:14.580 --> 00:08:19.040 um is that you're going to want to complete that 2022, 00:08:19.440 --> 00:08:20.090 fast stuff. 00:08:20.100 --> 00:08:23.000 Um, I know, I can't believe that we're at that you're either. 00:08:23.010 --> 00:08:25.670 Um, but you're always going to be completing the year that your 00:08:25.670 --> 00:08:27.700 student is going to be a freshman. 00:08:27.700 --> 00:08:31.250 So that would be the 20, 2023 school year. 00:08:31.340 --> 00:08:34.520 Um, so that is what you're gonna want to fill out Right now. 00:08:34.520 --> 00:08:38.190 The 2022, school year is available. 00:08:38.200 --> 00:08:42.250 Also, this current school year is available as well. 00:08:42.260 --> 00:08:45.810 So it's really important when you are filling out the FAFSA That 00:08:45.810 --> 00:08:48.250 you make sure that you're doing that correct year. Um, 00:08:48.260 --> 00:08:51.670 we oftentimes will have freshmen or incoming freshmen families 00:08:51.670 --> 00:08:54.490 reach out and say they fill it out. Well, it's the wrong one. 00:08:54.500 --> 00:08:55.380 So really make sure, 00:08:55.380 --> 00:08:57.570 so you don't have to go in there and do it twice that you're 00:08:57.570 --> 00:08:58.000 looking at. 00:08:58.000 --> 00:09:02.910 The 2022, facts up when you are filling out the FAFSA, 00:09:02.910 --> 00:09:07.110 it's really important that you are at the FAFSA dot gov website. 00:09:07.120 --> 00:09:10.080 Um, this is important because it's a government site. 00:09:10.090 --> 00:09:12.990 Um, and you want to make sure that you're not at a fast at, 00:09:13.000 --> 00:09:15.740 at a FAFSA site that is not legitimate. Um, 00:09:15.740 --> 00:09:18.840 So the dot gov will make sure that you are at the right site. 00:09:19.140 --> 00:09:24.100 One of the acronym is one of the eFS in FAFSA is stands for free. 00:09:24.110 --> 00:09:27.580 So it's really important that you're never paying to go to fill 00:09:27.580 --> 00:09:31.000 out the FAFSA um if you are, you are at the wrong site, 00:09:31.000 --> 00:09:34.540 that's a really good red flag, but it is free to fill out, 00:09:34.550 --> 00:09:37.240 you can fill it out and send it to as many schools as you want 00:09:37.240 --> 00:09:37.620 to. 00:09:37.630 --> 00:09:41.760 Um The FAFSA has about 10 spots on it to fill out the first time. 00:09:42.040 --> 00:09:44.880 If your student is applying to more than 10 schools, 00:09:44.890 --> 00:09:47.280 you will fill out that faster with the 10 schools, 00:09:47.290 --> 00:09:48.520 give it three or four days, 00:09:48.520 --> 00:09:50.760 you'll get an email once it's processed and sent to those 00:09:50.760 --> 00:09:54.610 schools and then after day four you can go back in, log in, 00:09:54.620 --> 00:09:57.850 take those 10 schools off and put another five on there and go 00:09:57.850 --> 00:09:59.160 to the end and resubmit it. 00:09:59.340 --> 00:10:02.660 Um that ensures that the 1st 10 schools still have your FAFSA 00:10:02.740 --> 00:10:05.600 and then those new additional five schools will also get the 00:10:05.600 --> 00:10:08.970 FAFSA this year, it opened on october 1st. 00:10:08.980 --> 00:10:11.150 Um it opens on october 1st every year. 00:10:11.150 --> 00:10:12.860 So if you're a junior in the room, 00:10:12.870 --> 00:10:15.810 next october 1st will be your day to fill out the FAFSA. 00:10:15.820 --> 00:10:17.700 Um we don't, you know, 00:10:17.700 --> 00:10:19.860 we don't feel like you have to do it on october 1st. 00:10:19.860 --> 00:10:21.700 If you haven't done it yet, you're totally fine. 00:10:21.710 --> 00:10:24.260 Um that's just the first day that it opens, 00:10:24.340 --> 00:10:27.360 we do recommend though filling it out sooner rather than later. 00:10:27.440 --> 00:10:30.410 Um And really the reason behind that is that it just is going to 00:10:30.410 --> 00:10:34.230 give you more time to get your financial aid package, 00:10:34.240 --> 00:10:35.670 ask the school questions, 00:10:35.680 --> 00:10:38.140 go through your financial aid package with the financial aid 00:10:38.140 --> 00:10:40.320 counselor, go to an accepted student day. 00:10:40.330 --> 00:10:42.730 Um So really it's all about you guys, 00:10:42.730 --> 00:10:45.200 it's really making sure that you get your stuff in early so that 00:10:45.200 --> 00:10:48.460 you can have a long as long as possible to make your decision 00:10:48.540 --> 00:10:50.770 And when you're filling out the 2022 FAFSA, 00:10:50.780 --> 00:10:54.660 it's important to note that you are using 2020 tax information, 00:10:54.740 --> 00:10:57.640 We'll talk about that a little bit further later on, 00:10:57.650 --> 00:11:00.990 but for a lot of people 2020 was a weird tax here. 00:11:01.000 --> 00:11:04.930 Um the FAFSA does require that you're always using prior prior 00:11:04.930 --> 00:11:06.060 tax year information, 00:11:06.060 --> 00:11:09.470 so two years prior to your students actually going to school um 00:11:09.480 --> 00:11:12.550 so if you have As you're filling it out, 00:11:12.550 --> 00:11:14.970 if you have had weird here in 2020, 00:11:14.980 --> 00:11:17.630 we will talk about the change of circumstance process a little 00:11:17.630 --> 00:11:18.250 bit later. 00:11:18.260 --> 00:11:22.550 Um but just know 2020 tax information and then you'll work with 00:11:22.550 --> 00:11:24.980 your financial aid offices on the other end to make any 00:11:24.980 --> 00:11:29.680 adjustments that are needed and then other applications so most 00:11:29.680 --> 00:11:32.430 schools require or don't require but recommend the FAFSA. 00:11:32.440 --> 00:11:35.090 Um And then other schools actually require if you're applying 00:11:35.090 --> 00:11:38.970 for financial aid further forms um so the most common form 00:11:38.970 --> 00:11:42.660 besides the FAFSA is the CSS profile um at Sienna, 00:11:42.660 --> 00:11:46.080 we actually only require the FAFSA if you're filling out for 00:11:46.080 --> 00:11:48.340 financial aid, we don't require the CSS, 00:11:48.640 --> 00:11:51.770 the CSS is a little bit different in that they're going to be 00:11:51.770 --> 00:11:54.010 various deadlines for each school for this, 00:11:54.020 --> 00:11:56.780 you're also going to have to provide further information, 00:11:56.780 --> 00:11:59.750 so the FAFSA looks at just one tax year, 00:11:59.760 --> 00:12:04.020 the CSS profile actually looks at three tax years um and as well 00:12:04.020 --> 00:12:04.440 as that, 00:12:04.440 --> 00:12:07.700 there are also fees associated with it unless you are a low 00:12:07.700 --> 00:12:08.660 income family, 00:12:08.670 --> 00:12:12.600 so you'll have to pay per school you apply to for all of these 00:12:12.600 --> 00:12:13.120 reasons. 00:12:13.130 --> 00:12:16.270 It's really important to not fill out the CSS profile unless you 00:12:16.270 --> 00:12:18.780 absolutely know that your school is going to require it. 00:12:18.790 --> 00:12:20.800 Um I'll often have families that call and say, 00:12:20.800 --> 00:12:23.390 oh I just filled out the CSS and send it to Sienna and I'm like, 00:12:23.400 --> 00:12:24.100 oh my goodness, 00:12:24.100 --> 00:12:27.560 I hope you didn't because they just paid to send it to us and we 00:12:27.560 --> 00:12:28.260 don't use it. 00:12:28.440 --> 00:12:30.840 So it's really important that you guys are logging onto the 00:12:30.840 --> 00:12:34.250 websites of the schools that your student is looking at figuring 00:12:34.250 --> 00:12:37.420 out what exactly they need for the financial aid process and you 00:12:37.420 --> 00:12:38.660 don't need to do more than that, 00:12:38.660 --> 00:12:42.170 so if they don't require the CSS profile don't fill it out um 00:12:42.170 --> 00:12:46.290 and some schools may also offer additional school applications 00:12:46.290 --> 00:12:47.830 as well that you need to fill out. 00:12:47.840 --> 00:12:50.320 So do just make sure you're looking at that website, 00:12:50.330 --> 00:12:53.980 looking at the deadlines um and making sure that you are really 00:12:53.980 --> 00:12:56.890 making getting them everything that they need and if there are 00:12:56.890 --> 00:13:00.040 deadlines associated with it, making sure that happens as well. 00:13:00.340 --> 00:13:01.620 Good question in the chat box. 00:13:01.630 --> 00:13:04.120 Is that something you would only fill out once you are a senior? 00:13:04.130 --> 00:13:06.810 Yes, absolutely. So in the meantime, 00:13:06.810 --> 00:13:09.540 if you're a junior or sophomore or even a freshman, 00:13:09.840 --> 00:13:13.400 I would recommend using the net price calculators um that are 00:13:13.410 --> 00:13:15.240 offered on every school's website. 00:13:15.250 --> 00:13:19.510 Um So what you would do if you are looking and you're a junior 00:13:19.520 --> 00:13:22.730 you'd go on you'd find their net price calculator and you fill 00:13:22.730 --> 00:13:25.490 that out with both your academic information as well as your 00:13:25.500 --> 00:13:28.340 financial information and it's going to give you an estimate of 00:13:28.340 --> 00:13:30.440 what your financial aid package would look like. 00:13:30.740 --> 00:13:31.960 I always recommend, 00:13:31.970 --> 00:13:35.340 even if that looks a little scary to you or you feel like it's 00:13:35.340 --> 00:13:38.130 not exactly what you were looking for actually go through the 00:13:38.130 --> 00:13:41.190 process the following year to fill out the FAFSA and it applied 00:13:41.190 --> 00:13:44.610 to the school. Um The net price calculators are just estimates, 00:13:44.610 --> 00:13:46.450 but they a lot of times can be good estimates. 00:13:46.450 --> 00:13:49.520 So if you are not a senior in the room, 00:13:49.530 --> 00:13:52.610 that is your best move right now um is to kind of do a little 00:13:52.610 --> 00:13:57.630 research and start looking at those net price calculators and 00:13:57.630 --> 00:14:01.860 yes and he just put into the chat how to find the CSS profile. 00:14:01.870 --> 00:14:05.240 Um It is right on the College board documents. 00:14:05.540 --> 00:14:07.540 Any other questions on the CSS? 00:14:09.640 --> 00:14:12.060 Okay. If there are, I can also come back to it. 00:14:12.070 --> 00:14:15.420 Um And so the first step when you're completing the FAFSA is you 00:14:15.420 --> 00:14:18.490 do want to put together what's called an F. S. A. I. D. 00:14:18.500 --> 00:14:20.190 There will be an F. S. A. I. D. 00:14:20.200 --> 00:14:22.960 For both your student and one parent. 00:14:22.970 --> 00:14:25.240 Both parents do not need an F. S. A. I. D. 00:14:25.250 --> 00:14:28.860 Um It's totally up to you. Which parent uses the F. S. A. I. D. 00:14:28.940 --> 00:14:31.560 At the end of the day, the parent that has the F. C. I. D. 00:14:31.560 --> 00:14:32.740 Is just signing it. 00:14:33.040 --> 00:14:36.250 Um A lot of times we'll get questions on which parent is on the 00:14:36.250 --> 00:14:38.860 FAFSA and a lot of questions about blended families. 00:14:38.870 --> 00:14:40.950 So some of the most common ones we get in, 00:14:40.950 --> 00:14:44.740 some of the most common situations if both parents are married, 00:14:45.040 --> 00:14:48.440 both parent would go on to the FAFSA again though only one of 00:14:48.440 --> 00:14:52.240 them has to actually sign the FAFSA doesn't matter which if 00:14:52.240 --> 00:14:53.620 parents are divorced, 00:14:53.630 --> 00:14:57.540 the parent that the student spends more than 50% of their time, 00:14:57.840 --> 00:15:00.640 that is the person that would go on to the FAFSA. 00:15:00.940 --> 00:15:03.670 If that person is remarried, 00:15:03.680 --> 00:15:06.850 the new spouse would also be included on the Fassa. 00:15:06.860 --> 00:15:09.550 So if mom and dad are divorced, 00:15:09.940 --> 00:15:13.280 Dad is the parent that the shoot spends more than 50% of their 00:15:13.280 --> 00:15:15.340 time with and dad is remarried, 00:15:15.350 --> 00:15:18.940 it would be dad and his new spouse that would go on to the FAFSA. 00:15:19.240 --> 00:15:22.220 So those are some of the common questions that we get as we go 00:15:22.220 --> 00:15:24.040 through and fill out the FAFSA. 00:15:24.340 --> 00:15:26.850 Another thing that's really important to note that we often see 00:15:26.850 --> 00:15:30.190 as a mistake on the FAFSA is that when the FAFSA says you, 00:15:30.200 --> 00:15:32.870 so your name, you're just a gross income, 00:15:32.880 --> 00:15:35.540 it is actually referring to the students. 00:15:35.540 --> 00:15:37.740 So the fossa is in your student's name. 00:15:37.750 --> 00:15:39.410 Um so when you're going through, 00:15:39.410 --> 00:15:41.950 it's really important to make sure that you're putting anywhere. 00:15:41.950 --> 00:15:44.050 It says you, it is the student's information. 00:15:44.240 --> 00:15:46.560 If it wants, the parents adjusted gross income, 00:15:46.570 --> 00:15:50.870 it will say parent a lot of times the parent is the one that is 00:15:50.870 --> 00:15:54.010 filling out the FAFSA for the student and we will get fastest 00:15:54.010 --> 00:15:57.490 for students that the adjusted gross income parent is exactly 00:15:57.490 --> 00:16:00.340 the same as the adjusted gross income for the student or they're 00:16:00.340 --> 00:16:02.950 earning 50,000 year while also going to high school. 00:16:02.950 --> 00:16:04.040 So we're lucky, 00:16:04.040 --> 00:16:06.560 we're a small enough school where we oftentimes will catch that 00:16:06.560 --> 00:16:09.950 mistake. Um but if your student is applying to big schools, 00:16:09.960 --> 00:16:12.800 it's really important to make sure that you're doing that 00:16:12.800 --> 00:16:15.120 accurately because they may not notice that. 00:16:15.130 --> 00:16:18.500 Um and it could put you at a severe disadvantage for financial 00:16:18.500 --> 00:16:22.220 aid. Um If it's your inputting that the student makes a lot more 00:16:22.220 --> 00:16:24.220 money than they actually do. 00:16:24.640 --> 00:16:27.110 One of the great tools that's come out within the last five 00:16:27.110 --> 00:16:30.290 years or so is the IRS data retrieval tool. 00:16:30.300 --> 00:16:33.780 The IRS data retrieval actually will help you as you go through. 00:16:33.780 --> 00:16:35.370 It will prompt you to use it. 00:16:35.380 --> 00:16:38.550 Um and if you choose to use it you will input all of your 00:16:38.550 --> 00:16:39.430 information. 00:16:39.440 --> 00:16:43.560 It will actually link your 2020 tax year information that you 00:16:43.560 --> 00:16:45.990 filled out with the I. R. S. With your FAFSA. 00:16:46.000 --> 00:16:48.820 Um What's great about this is it saves you some time. 00:16:48.830 --> 00:16:51.890 It also make sure that the information that's on the FAFSA is 00:16:51.900 --> 00:16:52.540 accurate. 00:16:52.840 --> 00:16:56.030 Um So I would highly recommend if it allows you to use that that 00:16:56.030 --> 00:17:00.030 you do. Um And as I said, it should prompt you as you go along. 00:17:02.840 --> 00:17:06.220 All right. And then once you have put together your FAFSA, 00:17:06.220 --> 00:17:07.670 you filled everything out. 00:17:07.680 --> 00:17:11.220 Um This is just a breakdown of the expected family contribution 00:17:11.220 --> 00:17:14.500 number. So what happens is you guys will fill out that FAFSA, 00:17:14.500 --> 00:17:16.100 you'll include all of your information, 00:17:16.110 --> 00:17:17.970 you'll include these five data elements, 00:17:17.970 --> 00:17:21.070 the adjusted gross income, the taxes paid your family size, 00:17:21.070 --> 00:17:23.830 so the total number of people that live in your household of 00:17:23.830 --> 00:17:24.440 that number, 00:17:24.440 --> 00:17:28.040 the number of those that are in college as well as assets, 00:17:28.050 --> 00:17:29.110 cash checking, 00:17:29.110 --> 00:17:32.080 savings and investments but not your retirement and not your 00:17:32.080 --> 00:17:32.950 primary home. 00:17:32.960 --> 00:17:36.420 Um And what the faster will do is it will calculate this number 00:17:36.420 --> 00:17:39.040 called the expected family contribution number. 00:17:39.050 --> 00:17:42.490 This is the fast estimate of the amount that you can pay towards 00:17:42.490 --> 00:17:49.060 college and that number gets sent to all of your schools And 00:17:49.060 --> 00:17:50.220 special circumstances. 00:17:50.220 --> 00:17:52.360 So once you file the FAFSA with the school, 00:17:52.370 --> 00:17:55.290 if you guys have had a change um kind of like what we talked 00:17:55.290 --> 00:17:58.640 about earlier with 2020 being a weird year for a lot of people 00:17:58.650 --> 00:18:02.500 um you'll want to reach out to your school if you do fall into 00:18:02.510 --> 00:18:03.850 any of these examples, 00:18:03.850 --> 00:18:06.650 so can be loss of job can be change of job. 00:18:06.650 --> 00:18:09.790 So if in 2020 you didn't work as much because you were home due 00:18:09.790 --> 00:18:12.810 to the pandemic. Um if you have medical expenses, 00:18:12.820 --> 00:18:16.110 if there's a divorce or separation or private k through 12 00:18:16.110 --> 00:18:16.700 tuition, 00:18:16.710 --> 00:18:20.790 we can actually adjust your faster to reflect that um you can't 00:18:20.790 --> 00:18:23.550 go in and make these changes on the backs of yourself but the 00:18:23.550 --> 00:18:27.020 financial aid office is that your student is applying to can um 00:18:27.020 --> 00:18:30.580 So if you fall into these circumstances or any other um 00:18:30.580 --> 00:18:34.010 circumstance where you just had a change in your financial 00:18:34.010 --> 00:18:35.640 situation in that tax year. 00:18:35.650 --> 00:18:38.240 It's important to reach out to the schools that your student is 00:18:38.240 --> 00:18:42.210 applying to. We all have processes in our offices for this. 00:18:42.220 --> 00:18:44.320 Every process will be a little bit different though. 00:18:44.330 --> 00:18:47.560 Um but really what we need is some type of communication from 00:18:47.560 --> 00:18:50.540 you. I always say we're not mind readers, I wish we were. 00:18:50.550 --> 00:18:52.840 Um but you definitely want to reach out to us and let us know 00:18:52.840 --> 00:18:54.050 about the situation. 00:18:54.140 --> 00:18:57.150 Um and then we'll follow up with you and kind of explain what we 00:18:57.150 --> 00:18:58.920 need in terms of documentation. 00:18:58.930 --> 00:19:01.950 Um and we'll walk you through the process um and we will 00:19:01.950 --> 00:19:05.220 actually end up making that change your FAFSA because the FAFSA 00:19:05.220 --> 00:19:07.800 really at the end of the day should reflect your most current 00:19:07.800 --> 00:19:09.100 financial situation. 00:19:09.110 --> 00:19:12.550 So if that has changed since 2020 definitely reach out to the 00:19:12.550 --> 00:19:14.340 schools where students applying to, 00:19:14.640 --> 00:19:17.740 I recommend just because we are going to need documentation and 00:19:17.750 --> 00:19:20.660 it's personal documentation confidential in a lot of ways. 00:19:20.670 --> 00:19:24.670 Um I recommend waiting until your student has narrowed down to 00:19:25.040 --> 00:19:27.590 56 schools that they're really looking at. 00:19:27.600 --> 00:19:30.440 Um to actually go through this change of circumstance process. 00:19:30.450 --> 00:19:32.480 You can of course go through it. 00:19:32.490 --> 00:19:35.780 Um you know at all 20 schools that your students applying to. 00:19:35.790 --> 00:19:38.850 Um but it's just a lot of documentation for you to send. 00:19:38.850 --> 00:19:41.100 So I would pick and choose which schools you're actually going 00:19:41.100 --> 00:19:41.960 to do it with, 00:19:42.140 --> 00:19:45.780 but this again will just allow you to get the most financially 00:19:45.780 --> 00:19:46.550 possible. 00:19:46.840 --> 00:19:49.660 Another thing to know is that while I keep talking about 2020 00:19:49.660 --> 00:19:50.640 being a weird year, 00:19:50.650 --> 00:19:53.750 your financial aid offices can always change the FAFSA and 00:19:53.750 --> 00:19:56.740 adjust it for your most recent financial situation. 00:19:56.750 --> 00:19:59.060 So it's important to know if any of these happened to your 00:19:59.060 --> 00:20:01.600 student wall there a senior while their junior. 00:20:01.600 --> 00:20:06.270 So later on in the school year, um definitely reach out. 00:20:06.280 --> 00:20:07.190 It never hurts. 00:20:07.190 --> 00:20:09.340 We can always talk you through the process and always make the 00:20:09.340 --> 00:20:12.090 adjustments. So it's not just pandemic related. 00:20:12.090 --> 00:20:15.190 Although um we were lucky that we did already have these types 00:20:15.190 --> 00:20:18.740 of processes in the financial world for changes like this. 00:20:19.040 --> 00:20:21.130 If sending two kids at the same time, 00:20:21.130 --> 00:20:24.000 does it adjust for expected family contribution? 00:20:24.010 --> 00:20:25.740 It does great question. 00:20:26.040 --> 00:20:29.060 Um the number in the household as well as the number in college 00:20:29.060 --> 00:20:30.470 plays a big part in that. 00:20:30.480 --> 00:20:33.670 Um what will happen is your expected family contribution in 00:20:33.670 --> 00:20:36.110 theory will basically get split into, 00:20:36.120 --> 00:20:40.080 so if your expected family contribution was originally 20,000 00:20:40.080 --> 00:20:42.110 when you had one student in school. 00:20:42.120 --> 00:20:44.670 In theory it should be 10,000 and 10,000. 00:20:44.840 --> 00:20:47.360 Sometimes it can be slightly off if one of the students was 00:20:47.360 --> 00:20:50.490 working a lot or has a large savings account, things like that. 00:20:50.490 --> 00:20:53.960 So it can be a little bit not perfectly split. Um but yes, 00:20:53.970 --> 00:20:57.460 it does impact the fact that if you have more than one in 00:20:57.460 --> 00:20:58.730 college at the same time, 00:20:58.740 --> 00:21:01.340 I always joke with our families that that's the best way to do. 00:21:01.340 --> 00:21:03.970 It is have multiples in college at the same time and I know it 00:21:03.970 --> 00:21:05.160 doesn't feel that way. 00:21:05.170 --> 00:21:08.340 Um but it oftentimes will allow you to receive some additional 00:21:08.340 --> 00:21:10.340 financial aid. 00:21:12.140 --> 00:21:12.930 All right, 00:21:12.930 --> 00:21:16.350 And then after you guys have filled out the FAFSA that has gone 00:21:16.350 --> 00:21:19.700 to your schools and your students been accepted if you had a 00:21:19.700 --> 00:21:21.900 special circumstance and you've worked through that with the 00:21:21.900 --> 00:21:23.470 financial aid process, 00:21:23.480 --> 00:21:26.740 um you would then get a financial aid package from your schools. 00:21:27.040 --> 00:21:29.610 The timing of this can vary from school to school. 00:21:29.620 --> 00:21:32.290 Um I would really recommend reaching out to the financial aid 00:21:32.290 --> 00:21:35.670 office is once you submit your FAFSA to kind of get a good sense 00:21:35.670 --> 00:21:39.290 of when they expect you will receive a financial aid package um 00:21:39.300 --> 00:21:41.700 at Sienna we do things a little bit earlier, 00:21:41.700 --> 00:21:45.080 I think that most schools um the way that we work is if you've 00:21:45.090 --> 00:21:48.380 been accepted to Sienna And we have your FAFSA by say like 00:21:48.380 --> 00:21:49.460 November 15, 00:21:49.640 --> 00:21:51.850 I will make sure that you guys have a financial aid package 00:21:51.850 --> 00:21:52.890 before christmas. 00:21:52.900 --> 00:21:54.770 We're definitely on the earlier side of things. 00:21:54.770 --> 00:21:57.480 I have lots of families that reach out and are shocked that we 00:21:57.480 --> 00:22:00.120 get it out to them so fast. They're waiting on a lot of schools. 00:22:00.130 --> 00:22:01.330 Um a lot of schools, 00:22:01.330 --> 00:22:04.460 I would say the majority is really towards the end of january, 00:22:04.460 --> 00:22:05.810 february, March ish, 00:22:05.820 --> 00:22:09.950 um is kind of the general things that we get for most students 00:22:10.940 --> 00:22:17.290 and so what we do is that once we have your FAFSA and that 00:22:17.300 --> 00:22:19.270 estimated feeling contribution number, 00:22:19.280 --> 00:22:22.040 We take that scary sticker price number that we talked about at 00:22:22.040 --> 00:22:22.740 the beginning, 00:22:23.040 --> 00:22:26.310 We subtract out what the facts that estimates that your family 00:22:26.310 --> 00:22:29.740 can pay towards college and we get your financial need number or 00:22:29.740 --> 00:22:32.850 the gap that we work really hard to try and fill with as much 00:22:32.850 --> 00:22:34.590 financial aid as we possibly can. 00:22:34.600 --> 00:22:37.510 Um and there's really a couple of different ways that we fill 00:22:37.510 --> 00:22:41.470 that gap that you have um first is with scholarships and grants 00:22:41.470 --> 00:22:42.660 that are institutional. 00:22:42.740 --> 00:22:46.060 Um So most schools have academic or merit based scholarships. 00:22:46.240 --> 00:22:47.180 Um at Sienna, 00:22:47.180 --> 00:22:49.780 our admissions team are the ones that are reading your 00:22:49.790 --> 00:22:51.930 admissions application and they are the ones that are 00:22:51.930 --> 00:22:54.360 determining those merit based scholarships. 00:22:54.370 --> 00:22:57.380 They will then pass that information on to us which will include 00:22:57.380 --> 00:22:58.940 in your financial aid package. 00:22:59.240 --> 00:23:02.310 We also have a large number of need based grants and endowments 00:23:02.310 --> 00:23:05.840 scholarships um from the college directly to you. 00:23:06.140 --> 00:23:09.660 So a lot of times we have families that will call and say um you 00:23:09.660 --> 00:23:11.150 know, I'm not going to apply for the fast to, 00:23:11.160 --> 00:23:14.370 I'm not going to qualify for anything federally or state based. 00:23:14.380 --> 00:23:17.470 Um we really still encourage you to fill out that FAFSA because 00:23:17.470 --> 00:23:20.450 lots of schools have different types of need based aid that you 00:23:20.450 --> 00:23:22.820 wouldn't normally be eligible for if you don't fill out the 00:23:22.820 --> 00:23:26.080 FAFSA. So while you may not qualify for the federal pell grant, 00:23:26.080 --> 00:23:28.430 you may still get something that's need based that you wouldn't 00:23:28.430 --> 00:23:30.540 receive if you did not fill out the bathtub. 00:23:30.840 --> 00:23:33.840 I always say if you really hate the process of the FAFSA and you 00:23:33.840 --> 00:23:36.240 feel like you're not gonna get anything just filling out the 00:23:36.240 --> 00:23:39.090 first year and then after that you can call the financial aid 00:23:39.090 --> 00:23:41.220 office once your students a student there and say, 00:23:41.230 --> 00:23:44.110 do I need to keep filling this out every year for some things 00:23:44.110 --> 00:23:45.670 you make your, the answer is yes, 00:23:45.680 --> 00:23:48.290 but it's definitely worth it because those are additional 00:23:48.290 --> 00:23:51.640 dollars um that are going towards your student's education. 00:23:51.940 --> 00:23:54.350 The other things that you may receive, As I mentioned, 00:23:54.350 --> 00:23:55.980 the federal pell grant is one of them. 00:23:55.990 --> 00:23:58.940 Um that is going to be based off the FAFSA. 00:23:58.950 --> 00:24:01.750 The pell grant will be the same no matter what school you're 00:24:01.750 --> 00:24:04.340 applying to in the United States if you're receiving it from one 00:24:04.340 --> 00:24:05.230 college. 00:24:05.240 --> 00:24:07.990 So that number should be the same across all of the schools that 00:24:07.990 --> 00:24:09.540 your student is applying to. 00:24:09.840 --> 00:24:11.770 There are also new york state grants, 00:24:11.780 --> 00:24:15.040 so if your student is a new york state resident and applying to 00:24:15.040 --> 00:24:16.530 a new york state College, 00:24:16.540 --> 00:24:19.110 um and you're eligible for the new york state tax grant, 00:24:19.110 --> 00:24:20.760 which is the tuition based grant, 00:24:20.770 --> 00:24:24.140 um that should be the same across all new york state schools. 00:24:24.150 --> 00:24:24.890 However, 00:24:24.890 --> 00:24:27.610 if your student is applying to Sienna and they're applying to a 00:24:27.610 --> 00:24:30.260 school in Connecticut and you're eligible for the new york state 00:24:30.260 --> 00:24:32.280 top grant, you'll get that at Sienna, 00:24:32.290 --> 00:24:34.650 you won't get it at the school, that's based in Connecticut. 00:24:34.660 --> 00:24:37.190 So that's important to note that that can change depending on 00:24:37.190 --> 00:24:39.240 the school's their student is applying to. 00:24:39.540 --> 00:24:41.680 There are also other new york state grants. 00:24:41.680 --> 00:24:43.560 One is the Excelsior scholarship, 00:24:43.570 --> 00:24:48.270 which is through only public schools within the new york state. 00:24:48.280 --> 00:24:52.910 Um That one I always recommend to students if you qualify for 00:24:52.910 --> 00:24:53.120 that, 00:24:53.120 --> 00:24:55.080 make sure you're applying to that and make sure that you're 00:24:55.080 --> 00:24:56.640 following all deadlines for that. 00:24:56.940 --> 00:25:01.210 Um The other one is the enhanced tuition award that is available 00:25:01.220 --> 00:25:05.600 at some private institutions that have opted into that program. 00:25:05.610 --> 00:25:07.360 When that program came out, 00:25:07.370 --> 00:25:10.640 there were a lot of stipulations and there still are in regards 00:25:10.640 --> 00:25:14.460 to the grants. Um Our school actually opted out of the program, 00:25:14.540 --> 00:25:17.750 um and instead we created the ST Francis scholarship that you 00:25:17.750 --> 00:25:19.550 can see in this financial aid package, 00:25:19.740 --> 00:25:22.810 which that's the amount that if we had participated in the 00:25:22.810 --> 00:25:25.320 enhanced tuition award that the student would receive. 00:25:25.320 --> 00:25:26.810 So we did that, 00:25:26.820 --> 00:25:28.980 and the reason for that is a lot of times with both the 00:25:28.980 --> 00:25:31.470 Excelsior and the enhanced tuition award, 00:25:31.480 --> 00:25:34.700 it's really important to look into the requirements for those 00:25:34.700 --> 00:25:38.740 awards. The reason behind that is that there's a lot of credit 00:25:38.740 --> 00:25:39.560 requirements. 00:25:39.740 --> 00:25:41.990 Um in terms of the number of credits that your students are 00:25:41.990 --> 00:25:43.640 taking every semester, 00:25:43.650 --> 00:25:46.560 there's also other requirements that they need to meet in order 00:25:46.560 --> 00:25:50.400 for that grant not to turn into a loan. Um so for instance, 00:25:50.400 --> 00:25:54.110 we have students all the time that go from 15 credits a semester. 00:25:54.120 --> 00:25:58.300 Start out as a biology major and decide that bio is just not for 00:25:58.300 --> 00:25:58.720 them. 00:25:58.730 --> 00:26:02.380 Um so they may drop that bio class B at 12 credit still be a 00:26:02.380 --> 00:26:05.410 full time student. If that student was in that program, 00:26:05.410 --> 00:26:07.650 they would no longer receive that grant. 00:26:07.650 --> 00:26:10.370 So it's really important just to make sure that you follow all 00:26:10.370 --> 00:26:13.240 the rules for those programs if your students are accepted into 00:26:13.240 --> 00:26:14.440 those programs. 00:26:14.740 --> 00:26:17.570 And then finally every student that fills out the FAFSA as a 00:26:17.570 --> 00:26:22.390 freshman will receive 5500 a federal Stafford loan. 00:26:22.400 --> 00:26:25.660 If the student has any type of need, 00:26:25.670 --> 00:26:28.300 they will receive a subsidized Stafford loan. 00:26:28.310 --> 00:26:30.950 That loan does not accrue interest while the student is in 00:26:30.950 --> 00:26:31.740 school, 00:26:32.040 --> 00:26:35.040 Then they will receive the remainder of that 5500 and the 00:26:35.050 --> 00:26:36.620 unsubsidized Stafford them, 00:26:36.630 --> 00:26:39.410 that one does accrue interest while the student is in school. 00:26:39.420 --> 00:26:40.090 However, 00:26:40.090 --> 00:26:43.110 both of them have fairly low interest rates and both of them 00:26:43.110 --> 00:26:47.110 would not need to be repaid until six months after graduation 00:26:47.540 --> 00:26:50.610 and then at the bottom of the financial aid package. 00:26:50.620 --> 00:26:53.300 And I will note there's a reason we put it at the bottom of our 00:26:53.300 --> 00:26:55.990 financial aid package, but it's important to watch out for this. 00:26:56.000 --> 00:26:58.540 Um The federal college Work study. 00:26:58.840 --> 00:27:00.810 What that is, is that's federal funds, 00:27:00.820 --> 00:27:03.730 Every school will get a different amount of federal college work 00:27:03.730 --> 00:27:04.260 study. 00:27:04.270 --> 00:27:07.720 So your student could receive federal work study at one school 00:27:07.730 --> 00:27:09.310 and not receive it at another, 00:27:09.320 --> 00:27:11.150 even though this is a federal fund. 00:27:11.150 --> 00:27:13.510 So that is going to vary school to school. 00:27:13.520 --> 00:27:16.250 But what that is is that's a job that the student can get on 00:27:16.250 --> 00:27:16.880 campus. 00:27:16.890 --> 00:27:20.760 The student is going to earn those funds in a paycheck bi weekly 00:27:20.770 --> 00:27:22.810 or weekly, however the school pays them, 00:27:22.820 --> 00:27:26.040 but it's important to note that that shouldn't be subtracted 00:27:26.040 --> 00:27:27.200 from your net costs. 00:27:27.200 --> 00:27:30.150 When you get these Financial aid letters a lot of times on 00:27:30.150 --> 00:27:32.390 Financial Aid award letters of five students that bring them in 00:27:32.390 --> 00:27:34.790 from other schools, it is subtracted. 00:27:34.800 --> 00:27:36.980 Your student can of course save those funds, 00:27:36.980 --> 00:27:39.020 put them in their savings account and use it towards next 00:27:39.020 --> 00:27:42.270 semester, but it doesn't automatically come off that bill, 00:27:42.340 --> 00:27:44.500 especially the first one because they're going to get that first 00:27:44.500 --> 00:27:47.170 bill before the school year even starts before they're able to 00:27:47.170 --> 00:27:48.650 start working at the college. 00:27:48.660 --> 00:27:52.000 So it is really important to kind of really take that into 00:27:52.000 --> 00:27:54.730 account um and make sure because a lot of times that ends up 00:27:54.740 --> 00:27:56.800 being pizza money on the weekends, 00:27:56.810 --> 00:27:58.420 extra spending money for them. 00:27:58.430 --> 00:28:01.000 Um and it doesn't go directly towards your neck cost. 00:28:01.000 --> 00:28:03.300 So just something to keep in mind when you are looking at the 00:28:03.300 --> 00:28:05.300 financial aid packages. 00:28:06.740 --> 00:28:09.150 Good question. If your salary is over 200,000, 00:28:09.150 --> 00:28:10.420 do you still think we should apply? 00:28:10.430 --> 00:28:13.230 I do and I would tell you that no matter what number you put in 00:28:13.230 --> 00:28:13.470 there. 00:28:13.480 --> 00:28:16.790 I really think it's important um there are schools that have 00:28:16.800 --> 00:28:19.020 scholarships just for filling out the FAFSA. 00:28:19.030 --> 00:28:21.080 It doesn't matter what your adjusted gross income is. 00:28:21.090 --> 00:28:25.040 Um so it is really important that if you are looking for any 00:28:25.040 --> 00:28:27.630 type of additional financial aid above and beyond your merit 00:28:27.630 --> 00:28:30.550 scholarship that you are filling out that back set again, 00:28:30.560 --> 00:28:32.560 at least that first year. 00:28:35.540 --> 00:28:36.280 All right. 00:28:36.280 --> 00:28:38.950 And then once you have that final net cost and once you have all 00:28:38.950 --> 00:28:40.510 of your financial aid packages, 00:28:40.520 --> 00:28:43.230 um it's important to look at the different payment and financing 00:28:43.230 --> 00:28:45.500 options that are available these days. 00:28:45.500 --> 00:28:48.230 Most schools have payment plans that would basically break the 00:28:48.230 --> 00:28:51.950 payment up usually anywhere from 2 to 6 months per semester. 00:28:51.960 --> 00:28:55.470 Um you'll also want to ask to see if there's any interest 00:28:55.470 --> 00:28:57.350 associated with those payment plans. 00:28:57.540 --> 00:28:59.870 So at sienna ours does not have any interest, 00:28:59.880 --> 00:29:02.520 it's a $35 fee to set it up. Again. 00:29:02.520 --> 00:29:05.610 Important to ask if there are fees or any interest associated 00:29:05.610 --> 00:29:07.440 with those monthly payment plans. 00:29:07.740 --> 00:29:10.950 There are also both federal and private parent plus loans. 00:29:10.960 --> 00:29:13.920 So these are going to be loans that are in the parents name for 00:29:13.920 --> 00:29:14.840 the student. 00:29:15.140 --> 00:29:18.220 There are also private education loans and those are often in 00:29:18.220 --> 00:29:22.610 the student's name Likely with a co signer of some type um since 00:29:22.610 --> 00:29:27.180 most 18 year olds don't have any to a little bit maybe of credit. 00:29:27.190 --> 00:29:30.040 Um so those are the different loans that are out there. 00:29:30.050 --> 00:29:32.750 It's really important the first year to shop around, 00:29:32.760 --> 00:29:35.080 we recommend looking at the different interest rates that are 00:29:35.080 --> 00:29:35.920 available, 00:29:35.930 --> 00:29:38.370 deciding if you want it to be in your name or into your 00:29:38.370 --> 00:29:39.260 student's name. 00:29:39.440 --> 00:29:42.690 Um and really do a good, a good job with research. 00:29:42.700 --> 00:29:44.590 I recommend to a lot of our families. 00:29:44.600 --> 00:29:46.620 Um and even if you're not looking at Sienna, 00:29:46.630 --> 00:29:50.310 we have a list on our website of lenders that we most typically 00:29:50.310 --> 00:29:51.550 see our students using. 00:29:51.560 --> 00:29:54.700 Um, so that I always recommend as a good place to start kind of 00:29:54.700 --> 00:29:55.630 shopping around. 00:29:55.640 --> 00:29:59.060 I also always recommend if you have local banks to you um, 00:29:59.060 --> 00:30:00.590 places where you may have a mortgage. 00:30:00.600 --> 00:30:04.270 It always is a good idea to shop there as well. 00:30:04.340 --> 00:30:07.050 Um we have a lot of the bigger names on our website, 00:30:07.050 --> 00:30:09.690 but it is important if you already have a relationship with the 00:30:09.690 --> 00:30:13.050 bank to see what they would do for you in terms of an interest 00:30:13.050 --> 00:30:13.440 rate. 00:30:13.740 --> 00:30:17.170 And then we do have students that use home equity as well um in 00:30:17.170 --> 00:30:20.800 terms of paying towards college and so then return on your 00:30:20.800 --> 00:30:23.690 investment. This is such a big decision for your student. 00:30:23.690 --> 00:30:25.770 It's important to look at the academic fit. 00:30:25.780 --> 00:30:28.280 Um and it's also really important to get a good read of what 00:30:28.280 --> 00:30:30.440 your return on your investment maybe. 00:30:30.740 --> 00:30:33.060 Um I'm actually gonna start at the bottom of the slide, 00:30:33.060 --> 00:30:35.520 so I always say don't take it from us. 00:30:35.530 --> 00:30:38.320 Um, there are three really good, 00:30:38.330 --> 00:30:42.350 non biased resources on under information sources. 00:30:42.740 --> 00:30:46.100 Um, the last one is a Sienna page. That Sienna page, 00:30:46.100 --> 00:30:49.500 why it's on there is that Sienna page has links to all three of 00:30:49.500 --> 00:30:51.620 them. So that's a good place to start. 00:30:51.620 --> 00:30:53.490 We also on that website um, 00:30:53.490 --> 00:30:57.120 have a lot of kind of different interactive things. Um, 00:30:57.130 --> 00:31:00.460 great resources for comparing financial aid packages when you 00:31:00.460 --> 00:31:01.160 get them, 00:31:01.340 --> 00:31:04.230 great resources for the financial aid road map to see kind of 00:31:04.230 --> 00:31:06.260 what you need to be doing at what time of the year. 00:31:06.340 --> 00:31:09.450 Um, so that is also another great resource and as I said, 00:31:09.460 --> 00:31:11.340 it has links to all three of those. Um, 00:31:11.340 --> 00:31:14.080 so it's a good place to start once you are kind of getting down 00:31:14.080 --> 00:31:16.860 to the wire and really looking at the return on your investment 00:31:16.860 --> 00:31:19.510 with the schools that your students looking for. Um, 00:31:19.520 --> 00:31:22.450 so what you're looking for on those websites when you visit them, 00:31:22.460 --> 00:31:25.700 these are some really good indicators that we recommend really 00:31:25.700 --> 00:31:28.480 doing a deep dive and getting them for all the schools that your 00:31:28.480 --> 00:31:29.840 student is considering. 00:31:30.140 --> 00:31:32.870 The first one is retention rate in the admissions world. 00:31:32.870 --> 00:31:36.780 What that tells us is how accurately we sold you the college. 00:31:36.790 --> 00:31:39.400 Um, notice, I didn't say how well we sold you the college, 00:31:39.400 --> 00:31:41.900 but how accurately we sold you the college. Um, 00:31:41.910 --> 00:31:45.640 so these are the percentage of students that started as freshmen 00:31:45.650 --> 00:31:48.200 came back and returned to their sophomore year. 00:31:48.210 --> 00:31:50.960 Um, so that tells us that they were happy, 00:31:50.970 --> 00:31:52.080 they had a great year. 00:31:52.090 --> 00:31:55.140 Um, and they decided to come back their sophomore year. 00:31:55.440 --> 00:31:58.940 If a school has a low retention rate, your student may show up. 00:31:59.240 --> 00:32:01.410 It may not be anything like when they were there for the 00:32:01.410 --> 00:32:02.370 admissions visit. 00:32:02.380 --> 00:32:05.030 So it is really important as I go through these, 00:32:05.040 --> 00:32:07.560 if there is a school that your students in love with, um, 00:32:07.560 --> 00:32:09.670 and one of these is a lower rate or rate, 00:32:09.670 --> 00:32:11.140 that's not as good as the others. 00:32:11.150 --> 00:32:13.690 It's always important to ask the admissions and financial aid 00:32:13.690 --> 00:32:15.540 offices why is the slower? 00:32:15.840 --> 00:32:18.050 Because a lot of times they can kind of go through and explain 00:32:18.050 --> 00:32:19.180 why it may be low. 00:32:19.190 --> 00:32:21.690 Um, and if your student is really in love with the school, 00:32:21.700 --> 00:32:24.340 you can work to mitigate that over there four years. 00:32:24.640 --> 00:32:27.860 The next one, which to me, maybe one of the most important ones. 00:32:27.870 --> 00:32:28.260 Um, 00:32:28.270 --> 00:32:31.580 if not the most important one is the four year graduation rate. 00:32:31.590 --> 00:32:33.390 To me why this is important. 00:32:33.400 --> 00:32:35.750 Um, is, it doesn't say five year graduation rate. 00:32:35.750 --> 00:32:37.390 It doesn't say six year graduation rate. 00:32:37.400 --> 00:32:41.070 What's important about that is that your students are likely 00:32:41.070 --> 00:32:43.460 going to graduate high school in four years. Um, 00:32:43.470 --> 00:32:46.610 Your students probably would never anticipate that they would 00:32:46.620 --> 00:32:50.260 ever need an extra semester or an extra year in college. 00:32:50.440 --> 00:32:53.640 A lot of times when the schools for your graduation rate is low, 00:32:53.640 --> 00:32:56.020 it's actually not the fault of the student. 00:32:56.030 --> 00:32:59.040 Um it's not that they came in and they did horribly in all of 00:32:59.040 --> 00:33:01.790 their classes. A lot of times when it may end up being, 00:33:01.790 --> 00:33:04.900 is that the classes that they were looking for weren't offered 00:33:04.900 --> 00:33:06.740 in the sequence that they needed them to be, 00:33:06.750 --> 00:33:11.510 or they had not a great advisor and at the end of their fall 00:33:11.510 --> 00:33:14.600 semester, when they went to register for their senior year, 00:33:14.600 --> 00:33:15.780 spring semester, 00:33:15.790 --> 00:33:18.470 the courses that they had left were offered that spring and no 00:33:18.470 --> 00:33:21.960 one told them that. Um so these things can happen. 00:33:21.970 --> 00:33:24.620 So it's really important to make sure that for your graduation 00:33:24.620 --> 00:33:25.530 rate is high. 00:33:25.540 --> 00:33:29.380 Also, not only are you adding cost by adding another semester or 00:33:29.380 --> 00:33:30.160 another year, 00:33:30.340 --> 00:33:33.750 um you're adding lost wages to that and you're also adding lost 00:33:33.750 --> 00:33:36.590 retirement if they did graduate and move on to a job. 00:33:36.600 --> 00:33:39.020 So it is really important that you're looking at those four year 00:33:39.020 --> 00:33:41.930 graduation rates, default rate, 00:33:41.940 --> 00:33:44.460 that is the percentage of students that have defaulted on their 00:33:44.460 --> 00:33:45.460 student loans. 00:33:45.470 --> 00:33:49.350 Um So it is important for that to actually be as low as possible. 00:33:49.350 --> 00:33:52.620 So that's the opposite of the first to um And so that really 00:33:52.620 --> 00:33:54.680 tells us if the default rate is low, 00:33:54.690 --> 00:33:57.470 students are going out there getting great jobs and they're able 00:33:57.470 --> 00:34:00.740 to start making payments on their loans and then job placement 00:34:00.740 --> 00:34:02.830 rates and starting salaries. Um, 00:34:02.830 --> 00:34:05.810 admissions teams should be able to give you kind of some good 00:34:05.810 --> 00:34:08.710 ideas of what the rates that students are being placed in jobs 00:34:08.710 --> 00:34:12.200 in their industry and what some of those starting salaries are 00:34:12.200 --> 00:34:14.200 as well. 00:34:15.740 --> 00:34:19.740 All right. And what questions do we have? 00:34:32.440 --> 00:34:33.520 Hi Kathleen, 00:34:33.520 --> 00:34:36.180 while people are considering what they might want to type, 00:34:36.180 --> 00:34:39.640 I just wanted to uh chime in a little bit there. 00:34:39.940 --> 00:34:44.180 Um there's so much valuable stuff covered there from, you know, 00:34:44.180 --> 00:34:46.910 that first interaction with the FAFSA, 00:34:46.920 --> 00:34:49.090 which I'm really glad you, you know, 00:34:49.100 --> 00:34:52.360 kind of highlighted not due on october 1st, 00:34:52.360 --> 00:34:54.170 but opens on october 1st. 00:34:54.170 --> 00:34:56.430 That's that's a biggie for everybody, you know, 00:34:56.430 --> 00:34:59.430 to settle and understand that, you know, 00:34:59.430 --> 00:35:03.040 sometime in the early fall is a great time to get that done. 00:35:03.340 --> 00:35:06.630 Absolutely. And I always get the question um you know, 00:35:06.630 --> 00:35:09.840 my student is still deciding where they're going to apply to um 00:35:09.850 --> 00:35:12.550 is it okay that I go in and fill out the FAFSA? 00:35:12.560 --> 00:35:14.800 Um The question, the answer is absolutely. 00:35:14.810 --> 00:35:17.410 Um it never hurts to get it done if you have a free saturday 00:35:17.410 --> 00:35:18.120 afternoon. 00:35:18.130 --> 00:35:21.090 Um I think the facts that can be really daunting to a lot of 00:35:21.090 --> 00:35:21.830 people, 00:35:21.840 --> 00:35:25.600 I always say it's 100 questions and it's all questions about you. 00:35:25.610 --> 00:35:28.410 Um If you sit down and you have your F. S. A. I. D. 00:35:28.410 --> 00:35:32.190 Ready that you prepared um and you have your taxes and a copy of 00:35:32.190 --> 00:35:34.510 bank statements, you should really be okay. 00:35:34.520 --> 00:35:37.770 Um The fact that is very interactive in terms of if you have 00:35:37.770 --> 00:35:40.030 questions, there's little question box next, 00:35:40.030 --> 00:35:42.260 each question that breaks the question down further. 00:35:42.270 --> 00:35:45.660 Um and Financial Aid offices are always a call away if you have 00:35:45.660 --> 00:35:47.850 questions, but if you give yourself, you know, 00:35:47.860 --> 00:35:51.550 two hours on an afternoon or one night to really sit down and do 00:35:51.550 --> 00:35:54.940 it, um you may be surprised by how stress free it is. 00:35:55.240 --> 00:35:58.390 The other thing that I always recommend um is actually having 00:35:58.390 --> 00:36:02.190 your students sit with you um and a lot of times have them drive, 00:36:02.190 --> 00:36:03.610 have them be the one at the computer, 00:36:03.620 --> 00:36:07.020 help them answer the questions. Um but it gives them, you know, 00:36:07.020 --> 00:36:10.420 a little bit of the investment into the financial aid process. 00:36:10.430 --> 00:36:13.450 Also, they are way more tech savvy than any of us. 00:36:13.530 --> 00:36:15.070 So I always say as a parent, 00:36:15.070 --> 00:36:17.040 you're gonna have all the answers about the financial 00:36:17.130 --> 00:36:20.290 information that you need um and the student is going to have 00:36:20.290 --> 00:36:22.600 all the ability to actually get through the form. 00:36:22.610 --> 00:36:25.830 That's a great point. Um uh you know, I can, 00:36:25.840 --> 00:36:27.850 I can speak from some first hand experience, 00:36:27.850 --> 00:36:29.100 I filled out my own fat, 00:36:29.100 --> 00:36:34.510 so only a couple of years ago For a six year degree and was a 00:36:34.510 --> 00:36:36.930 very different experience than when I was 18, 00:36:36.930 --> 00:36:41.480 that's for sure doing it on paper, you know, um so it is, 00:36:41.480 --> 00:36:42.920 you know, it can seem daunting, 00:36:42.920 --> 00:36:46.130 it's a reasonable task and the fact that they can now use the 00:36:46.130 --> 00:36:50.980 prior prior year makes it much more relaxing. Um You know, 00:36:50.980 --> 00:36:54.150 only a few years ago everybody was scrambling together, 00:36:54.430 --> 00:36:58.100 they get their taxes done unreasonably early before they even 00:36:58.100 --> 00:37:01.940 had all the documents because they were just using the prior 00:37:01.940 --> 00:37:02.280 year. 00:37:02.280 --> 00:37:06.190 So things have definitely relaxed with the prior prior year 00:37:06.190 --> 00:37:09.260 taxes. There are a couple of questions in the chat. 00:37:09.260 --> 00:37:11.520 Now let us direct to that. 00:37:11.590 --> 00:37:14.540 So the first question is I'm wondering if you can speak a bit 00:37:14.540 --> 00:37:16.270 more about a student, divorced parents, 00:37:16.270 --> 00:37:18.650 what what one parent is not willing to help? 00:37:18.830 --> 00:37:20.620 So in terms of actually filling out the facts, 00:37:20.620 --> 00:37:24.130 so if you're divorced only the parent that the student spends 00:37:24.130 --> 00:37:28.180 more than 50% of their time with um is the one that has to fill 00:37:28.190 --> 00:37:33.030 out the FAFSA. Um So if that is you you're filling it out, 00:37:33.030 --> 00:37:35.390 you don't have to include their information so you don't really 00:37:35.390 --> 00:37:37.390 need their help in terms of filling it out. 00:37:37.400 --> 00:37:39.680 Um And by doing that, 00:37:39.680 --> 00:37:43.540 that person's income is not included on the FAFSA. 00:37:43.550 --> 00:37:47.550 Um So it sort of takes into consideration that they may not be 00:37:47.550 --> 00:37:48.460 willing to help. 00:37:48.470 --> 00:37:52.010 Um Already if you have further questions on that they'll feel 00:37:52.010 --> 00:37:54.900 free to throw it into the chat box if I didn't answer your 00:37:54.970 --> 00:37:57.730 question with that. Um And then the second question, 00:37:57.730 --> 00:38:00.580 well putting money in a 5 29 plan reduce the amount of aid I 00:38:00.580 --> 00:38:01.320 receive. 00:38:01.620 --> 00:38:07.630 So It can the 529 is an asset but one of the positives of the 00:38:07.630 --> 00:38:10.740 529 as opposed to just a general savings account. 00:38:10.750 --> 00:38:13.980 Um if you had put together a savings account or your student had 00:38:13.980 --> 00:38:17.220 started a savings account when they were little for college, 00:38:17.520 --> 00:38:19.970 That savings account that's in your student's name would be 00:38:19.970 --> 00:38:23.270 counted as one of your students assets on the facts up. 00:38:23.280 --> 00:38:26.430 The student assets count more towards the estimated filming 00:38:26.430 --> 00:38:30.160 contribution number that schools receive than the parents assets. 00:38:30.170 --> 00:38:34.020 One of the positives of the 529 is that it's actually counted as 00:38:34.020 --> 00:38:35.390 a parent asset. 00:38:35.400 --> 00:38:41.020 So while it does count towards um that number and it can reduce 00:38:41.020 --> 00:38:42.550 the age that you receive, 00:38:42.560 --> 00:38:46.360 it reduces it a lot less than if you had saved in another way. 00:38:46.370 --> 00:38:49.950 So there is definitely a positive to saving with the 5 29. 00:38:50.250 --> 00:38:53.350 But yes it is an asset so it does still have to be included. 00:38:53.360 --> 00:38:56.000 The only assets that do not need to be included is your 00:38:56.000 --> 00:38:58.840 retirement accounts um in your primary house. 00:38:58.840 --> 00:39:01.790 So if you have a second home or you have other accounts that 00:39:01.790 --> 00:39:04.270 aren't retirement accounts, those do have to be included. 00:39:04.280 --> 00:39:08.280 But the 5 29 would go under parent, not the student, 00:39:22.020 --> 00:39:23.570 a really good question. 00:39:23.580 --> 00:39:25.710 Um When you get the financial aid package back, 00:39:25.720 --> 00:39:27.390 if you still can't afford that school, 00:39:27.390 --> 00:39:29.980 will the school be able to negotiate the price further. 00:39:29.990 --> 00:39:34.100 Um I always say it never hurts to ask um The worst that's gonna 00:39:34.100 --> 00:39:36.180 happen is that your answer is going to be no. 00:39:36.190 --> 00:39:38.440 Um If you call me and you asked me this question, 00:39:38.440 --> 00:39:39.860 I'm not taking it away. 00:39:39.870 --> 00:39:45.520 So I always recommend asking um schools you know if you're 00:39:45.520 --> 00:39:48.070 feeling like it's still going to be tight in terms of the amount 00:39:48.070 --> 00:39:51.310 that you need to cover the balance of the tuition um It's 00:39:51.310 --> 00:39:53.660 sometimes helpful if you can tell the school how much you would 00:39:53.660 --> 00:39:59.140 need um If you are requesting $15,000 more to go to Sienna, 00:39:59.150 --> 00:40:01.100 I probably can't make that happen for you. 00:40:01.110 --> 00:40:04.660 Um If you're requesting just a little bit more 1000 2000 00:40:04.960 --> 00:40:07.840 Depending on the year we might have some wiggle room a lot of 00:40:07.840 --> 00:40:11.430 times for schools it really depends on um what they have left in 00:40:11.430 --> 00:40:13.920 their budget when it gets a little bit closer to me first. 00:40:13.920 --> 00:40:17.090 So for us um like these last couple of years we haven't had 00:40:17.090 --> 00:40:18.260 anything left over. 00:40:18.270 --> 00:40:21.180 Um However in fire years when I've been at Sienna there's 00:40:21.180 --> 00:40:23.960 sometimes sometimes it's a little bit over him and we are able 00:40:23.960 --> 00:40:26.890 to go out with additional aid for families again it's usually 00:40:26.890 --> 00:40:29.980 closer to like that March april time frame but it never hurts to 00:40:29.980 --> 00:40:30.370 ask. 00:40:30.370 --> 00:40:33.530 And what we would do is if you called and asked in december when 00:40:33.530 --> 00:40:35.750 you got your aid package we would put you on that list. 00:40:35.750 --> 00:40:39.690 So um always feel free to call your schools again they're not 00:40:39.690 --> 00:40:42.100 going to revoke any of your aid by you asking the question. 00:40:42.110 --> 00:40:45.140 A lot of schools are very used to it um And we're happy to hear 00:40:45.140 --> 00:40:47.640 the question and kind of walk you through whatever schools 00:40:47.640 --> 00:40:49.780 individual process for that might be. 00:40:49.790 --> 00:40:52.500 Um Some schools may have you fill out a form to request 00:40:52.500 --> 00:40:54.110 additional aid. It just depends. 00:40:54.120 --> 00:40:57.580 Um But yes feel free to call and ask that. 00:40:57.590 --> 00:41:01.050 Um A lot of times families I think expected to be like buying a 00:41:01.050 --> 00:41:03.390 car. Um It's not really a negotiation. 00:41:03.390 --> 00:41:06.660 It's really more just if we have something additional or not. 00:41:06.670 --> 00:41:10.080 Um So we really as I said we watch our budget's pretty closely 00:41:10.080 --> 00:41:12.420 and will definitely reach out to any families that have asked 00:41:12.420 --> 00:41:17.360 that question to us once we have an answer um custodial account 00:41:17.360 --> 00:41:19.840 be the same idea as a 5 29. 00:41:20.280 --> 00:41:22.580 Tell me a little bit more about that. 00:41:22.590 --> 00:41:26.580 Is it like a savings account that you are a custodial on as a 00:41:26.580 --> 00:41:27.270 parent? 00:41:27.280 --> 00:41:31.380 Um I know for the 5 29 it can be called a custodial account. 00:41:31.380 --> 00:41:33.900 So I just want to make sure that they're separate when you're 00:41:33.900 --> 00:41:34.640 asking that question. 00:41:34.640 --> 00:41:42.900 I'll keep an eye out for your answer on that right and then 00:41:42.900 --> 00:41:46.870 let's see what if parents are divorced but they both hold 5 29 00:41:46.870 --> 00:41:48.120 accounts for the student. 00:41:48.130 --> 00:41:52.410 So if parents are divorced and both hold 5 29 accounts for the 00:41:52.410 --> 00:41:53.150 student? 00:41:53.160 --> 00:41:56.810 The parent that is on the FAFSA would be the one that needs to 00:41:56.810 --> 00:41:58.810 report their 5 29 accounts. 00:42:00.100 --> 00:42:02.910 What if your previous year income is more than you will make 00:42:02.910 --> 00:42:06.650 this year? I can see this Coming. 00:42:06.660 --> 00:42:11.360 Um so if your income from the previous year is more than you're 00:42:11.360 --> 00:42:12.440 making this year, 00:42:12.450 --> 00:42:15.640 um I would take a look first at your 2020 income. 00:42:15.650 --> 00:42:19.490 So is your 2020 income more than you're making this year um in 00:42:19.490 --> 00:42:23.390 2021 or when your suit is going to school in 2022? 00:42:23.400 --> 00:42:25.480 Um really good question. 00:42:25.480 --> 00:42:27.160 This is something you'll definitely want to reach out to the 00:42:27.160 --> 00:42:29.580 financial aid office about. Again, as I said, 00:42:29.580 --> 00:42:32.190 it's a change of circumstance and we would actually adjust your 00:42:32.190 --> 00:42:35.400 faster to reflect what your most current financial situation is. 00:42:35.410 --> 00:42:36.920 Um So for instance, 00:42:36.930 --> 00:42:41.300 if you worked all through 2020 and then you've had a recent job 00:42:41.300 --> 00:42:45.070 change and you're actually making less money or um you yourself 00:42:45.070 --> 00:42:45.970 are going back to school, 00:42:45.970 --> 00:42:48.900 so you're no longer employed while you're getting your degree. 00:42:48.910 --> 00:42:51.920 So those are all things that we can actually adjust your facts 00:42:51.920 --> 00:42:52.270 before, 00:42:52.270 --> 00:42:54.250 so definitely reach out to the schools that your student is 00:42:54.250 --> 00:42:56.360 looking at. Um And the financial aid process. 00:42:56.370 --> 00:42:59.060 The Financial Aid office should be happy to walk you through 00:42:59.060 --> 00:43:03.190 that process specifically if I only got unsubsidized loan, 00:43:03.190 --> 00:43:04.220 but I need more alone, 00:43:04.220 --> 00:43:06.030 can I apply for the direct parent Plus loans through the 00:43:06.030 --> 00:43:08.480 absolute loan. How is that different from a personal loan? 00:43:08.490 --> 00:43:09.890 Good question, yep, 00:43:09.900 --> 00:43:13.600 you definitely can apply for the parent plus loan through the 00:43:13.600 --> 00:43:15.770 FAFSA, that is a federal loan option. 00:43:15.780 --> 00:43:19.100 We have lots of families that sienna that use that loan option. 00:43:19.400 --> 00:43:22.630 It's different from the subsidized the unsubsidized loan, 00:43:22.630 --> 00:43:26.040 in that the parent loan is in the parents see the unsubsidized 00:43:26.040 --> 00:43:29.320 and subsidized loans are just in your student's name and then 00:43:29.330 --> 00:43:32.170 it's different from a personal loan in that a lot of times 00:43:32.170 --> 00:43:34.540 educational loans will have a lower interest rate. 00:43:34.550 --> 00:43:37.940 Um and again it depends and this is why it's really important to 00:43:37.940 --> 00:43:40.020 shop around, especially that first year. 00:43:40.030 --> 00:43:43.600 Um, but the educational loans are a little bit different. Again, 00:43:43.600 --> 00:43:46.450 usually the interest rate on them is a little bit lower um and 00:43:46.450 --> 00:43:48.880 they sometimes can be a little bit easier to get because you're 00:43:48.880 --> 00:43:51.010 proving that you have this educational expense. 00:43:51.300 --> 00:43:55.300 Um and you're also limited by total cost of attendance as well, 00:43:57.200 --> 00:43:59.760 High growth mutual fund and I'm a custodian for my students, 00:43:59.760 --> 00:44:01.730 so yes, um, in that case, 00:44:01.730 --> 00:44:05.310 because it's not a 5 29 if that account is in the student's name 00:44:05.310 --> 00:44:06.820 and you're just the custodian of it, 00:44:06.830 --> 00:44:10.830 it would have to go under the students assets, 00:44:11.590 --> 00:44:14.570 assuming your income is not significantly changed a financial 00:44:14.570 --> 00:44:18.120 Aid package stay the same for all four years. Great question, 00:44:18.130 --> 00:44:20.900 I would highly recommend that every school year students 00:44:20.900 --> 00:44:24.870 seriously considering you asked this question to um We do things 00:44:24.870 --> 00:44:26.570 very differently than some schools do. 00:44:26.580 --> 00:44:28.640 Um For instance at Sienna, 00:44:28.650 --> 00:44:33.370 as long as your status as a full time undergraduate students, 00:44:33.370 --> 00:44:36.210 so You're in 12 credits every semester and you're an 00:44:36.210 --> 00:44:38.850 undergraduate student and not moving over to one of our graduate 00:44:38.850 --> 00:44:41.240 programs. Um if you're a commuter student, 00:44:41.240 --> 00:44:43.970 you stay as a commuter or if you're a resident living on campus, 00:44:43.970 --> 00:44:45.160 you stay that way. 00:44:45.170 --> 00:44:48.190 Um and as long as you keep filling up the fact that if you have 00:44:48.190 --> 00:44:51.310 financial need based aid um then yes. 00:44:51.310 --> 00:44:53.100 The answer to that question is yes. 00:44:53.190 --> 00:44:55.770 But I always recommend reaching out to schools. 00:44:55.780 --> 00:44:58.420 Some schools will have very specific stipulations. 00:44:58.430 --> 00:45:01.560 Um grade point average is that your student has to keep to keep 00:45:01.560 --> 00:45:02.910 their merit scholarship. 00:45:02.920 --> 00:45:06.170 Um Federal and state is not up to the school. 00:45:06.170 --> 00:45:09.250 So that can change if your income does change. 00:45:09.260 --> 00:45:12.930 I always say if you win the lottery tomorrow and you have to 00:45:12.930 --> 00:45:15.290 report those assets on your FAFSA for next year. 00:45:15.300 --> 00:45:18.660 Um You can lose that pell grant or that new york state tap grant 00:45:18.670 --> 00:45:21.090 and most schools can't really do too much about that. 00:45:21.100 --> 00:45:23.130 But especially for the institutional aid. 00:45:23.140 --> 00:45:25.560 Really important to make sure that you know what your suit needs 00:45:25.560 --> 00:45:29.560 to do to keep that for all four years. 00:45:30.790 --> 00:45:34.800 Mhm. Regarding the dual 5 29 accounts for divorced parents. 00:45:34.800 --> 00:45:37.480 How can wolf accounts be applied as payment. 00:45:37.490 --> 00:45:41.890 So for most 5 29 accounts um you'll contact the 5 29 once you 00:45:41.890 --> 00:45:45.010 have your first bill for the school um and you'll tell them how 00:45:45.010 --> 00:45:46.690 much you want sent to the school. 00:45:46.690 --> 00:45:48.800 So it would usually come in the form of a check. 00:45:48.990 --> 00:45:52.270 Um and again 5 29th can vary a little bit differently in terms 00:45:52.270 --> 00:45:53.220 of what they need. 00:45:53.290 --> 00:45:56.660 Um Some need for you to just tell them that you need this much 00:45:56.660 --> 00:45:58.280 dispersed to this college. 00:45:58.290 --> 00:46:01.560 Um Whereas others will actually need a full tuition bill and for 00:46:01.560 --> 00:46:04.790 you to then tell them how much so from what I understand from 00:46:04.790 --> 00:46:08.660 our families um It's pretty easy to do you a lot of times just 00:46:08.660 --> 00:46:10.950 have to provide them with the tuition bill and how much you want 00:46:10.950 --> 00:46:12.950 sent. 00:46:14.680 --> 00:46:17.680 Great questions. I think that was the last one. If I missed one. 00:46:17.980 --> 00:46:19.980 So yell at me. 00:46:20.580 --> 00:46:22.580 Yes I think I got them all. 00:46:25.280 --> 00:46:27.280 Any other last questions. 00:46:29.480 --> 00:46:32.180 I will also put my email address in the chat box. 00:46:32.190 --> 00:46:35.060 Um If you guys have any questions whether it be personal 00:46:35.060 --> 00:46:35.490 questions, 00:46:35.490 --> 00:46:37.490 I know financial aid a lot of times deals with a lot of 00:46:37.490 --> 00:46:38.780 confidential information. 00:46:38.790 --> 00:46:41.410 Um But if you have any questions that you don't want to share 00:46:41.410 --> 00:46:44.640 with the class, I'm happy to answer them via email. 00:46:44.650 --> 00:46:47.000 Um Even if your student is not looking at Sienna, 00:46:47.080 --> 00:46:50.040 I'm always happy to kind of walk you through anything that you 00:46:50.040 --> 00:46:52.720 need help with, so feel free to shoot an email. 00:46:52.730 --> 00:46:55.340 Um I know financially it can be very stressful, 00:46:55.340 --> 00:46:58.820 we do our best to try and ease the stress as much as possible, 00:46:58.820 --> 00:47:01.550 so I always say if you're up at two am thinking about it, 00:47:01.550 --> 00:47:02.570 just send me the email, 00:47:02.580 --> 00:47:05.430 I'll get it in the morning and I'll be happy to answer for you 00:47:05.430 --> 00:47:07.500 and you can go back to bed um but yes, 00:47:07.510 --> 00:47:09.710 any questions that you guys have as they arise, 00:47:09.710 --> 00:47:11.710 feel free to reach out. 00:47:12.080 --> 00:47:14.970 MS Penland, that's a really, really nice offer. 00:47:14.980 --> 00:47:19.350 We try to say here too that we're not financial experts, 00:47:19.350 --> 00:47:19.940 you know, 00:47:19.940 --> 00:47:22.590 we would never claim to be at the high school level in our 00:47:22.590 --> 00:47:23.780 counseling department. 00:47:23.790 --> 00:47:27.480 We've gathered a lot of info over the past few years and so we 00:47:27.480 --> 00:47:31.840 try to share whatever we think we know about how schools 00:47:31.840 --> 00:47:35.340 practice and how the FAFSA operates, um but the, 00:47:35.340 --> 00:47:37.080 the ins and outs of, you know, 00:47:37.090 --> 00:47:41.760 where money can or should come from and the best ways to borrow 00:47:41.760 --> 00:47:45.270 it if necessary. Um you know, I wouldn't, 00:47:45.280 --> 00:47:49.320 wouldn't quite be like our area of expertise and so we really do 00:47:49.320 --> 00:47:52.280 encourage students and families to reach out directly to the 00:47:52.280 --> 00:47:54.980 financial aid offices of those institutions. 00:47:55.280 --> 00:47:58.360 Um This has been fantastic, thank you so much. 00:47:58.370 --> 00:48:01.110 Um yeah, of course, Miss Finland, 00:48:01.120 --> 00:48:05.890 Kathleen Finland from Sienna College Director of Financial Aid 00:48:05.890 --> 00:48:10.500 and head cheer coach um taking an evening to join Shelton High 00:48:10.500 --> 00:48:13.160 school parents were just really, really appreciate it. 00:48:13.170 --> 00:48:17.690 Um Miss Finland was recording this session and so again, 00:48:17.870 --> 00:48:22.280 it will be my intention to have it available to our community 00:48:22.870 --> 00:48:27.340 sometime in the near future and um please keep an eye out on the 00:48:27.340 --> 00:48:31.520 Shelton High school counseling web page um of the Shelton hi 00:48:31.520 --> 00:48:33.960 website for financial aid information, 00:48:33.960 --> 00:48:37.750 including this video link when this becomes available. 00:48:37.760 --> 00:48:41.290 Um additional questions and thank you's are really, 00:48:41.290 --> 00:48:44.140 it seems like lots of thanks popping up there. 00:48:44.140 --> 00:48:48.310 So I'll ask you to take Miss Finland up there on, you know, 00:48:48.310 --> 00:48:50.740 shooting her an email if you have something private, 00:48:50.740 --> 00:48:53.760 you'd like to ask for a specific situation, 00:48:53.770 --> 00:48:58.900 but otherwise we're gonna thank her one more time and um we'll 00:48:58.910 --> 00:49:00.620 end the meeting in just a minute here. 00:49:00.620 --> 00:49:02.920 So thank you all for joining us at home. 00:49:02.930 --> 00:49:05.880 Uh This is a great turnout and we're really happy to be able to 00:49:05.880 --> 00:49:07.130 bring this, you know, 00:49:07.130 --> 00:49:11.430 live zoom while not being able to do it at Shelton high in 00:49:11.430 --> 00:49:11.980 person. 00:49:11.990 --> 00:49:15.740 Uh Super informative and we just thank you so much again to 00:49:15.740 --> 00:49:18.650 spend land for taking the time. Yeah, absolutely. 00:49:18.650 --> 00:49:20.720 Thank you guys so much for having me and have a great rest of 00:49:20.720 --> 00:49:22.720 your night. Good night