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5/31 FA 9.4 FASFA

Last updated over 2 years ago
27 questions
Note from the author:

OBJECTIVES & STANDARDS

Math Objectives
  • Summarize categorical data using two-way tables
  • Interpret data in relative frequency tables
Common Core Math Standards
  • Link to all CCSS Math
  • CCSS.HSS.ID.B.5
  • CCSS.HSS.ID.C.9
  • CCSS.PRACTICE.MP3
  • CCSS.PRACTICE.MP4
Personal Finance Objectives
  • Explain the role the FAFSA plays in the financial aid process
  • Understand the importance of submitting the FAFSA
  • Apply for the FAFSA
  • Identify common misconceptions surrounding the FAFSA process
  • Read a Student Aid Report (SAR) and understand the role of their Expected Family Contribution (EFC)
National Standards for Personal Financial Education
Managing Credit
  • 4a: Describe the different sources of funding for postsecondary education
  • 4b: Explain the role the FAFSA plays in applying for college financial aid

DISTRIBUTION & PLANNING

Distribute to students
  • Student Activity Packet

OBJECTIVES & STANDARDS

Math Objectives
  • Summarize categorical data using two-way tables
  • Interpret data in relative frequency tables
Common Core Math Standards
  • Link to all CCSS Math
  • CCSS.HSS.ID.B.5
  • CCSS.HSS.ID.C.9
  • CCSS.PRACTICE.MP3
  • CCSS.PRACTICE.MP4
Personal Finance Objectives
  • Explain the role the FAFSA plays in the financial aid process
  • Understand the importance of submitting the FAFSA
  • Apply for the FAFSA
  • Identify common misconceptions surrounding the FAFSA process
  • Read a Student Aid Report (SAR) and understand the role of their Expected Family Contribution (EFC)
National Standards for Personal Financial Education
Managing Credit
  • 4a: Describe the different sources of funding for postsecondary education
  • 4b: Explain the role the FAFSA plays in applying for college financial aid

DISTRIBUTION & PLANNING

Distribute to students
  • Student Activity Packet
Intro:

QUESTION OF THE DAY: What percent of high school seniors have filed their FAFSA to access college aid each year?

Answer the question on the first slide in the space below. Then, compare your answer to the answer on the second slide. Finally, follow your teacher’s directions on how to answer the follow-up questions on the last slide.
1
What percent of high school seniors have filed their FAFSA to access college aid (as of 5/6/22)_______
1

List reasons that might explain why some students haven’t filed yet.

Learn It

EDPUZZLE: FAFSA Overview

The FAFSA is the gateway to financial aid. Watch this video to learn more about the FAFSA and the application process. Follow your teacher's directions to answer the questions either in your student activity packet or within the EdPuzzle itself.
1

What is the purpose of the FAFSA, or Free Application for Federal Student Aid? (Select 2 answers)
A. It provides access to financial aid from the Federal government, such as grants, loans, and work-study
B. It is a scholarship application that is offered by the Federal government. If you win, you are awarded free tuition to the college you attend.
C. Colleges and universities use the information you submit on the FAFSA to determine how much financial aid to offer you
D. It provides access to loan programs from private lenders

1

True or False: Your parent/guardian can use your FSA ID to submit any information for your FAFSA application.

1

Which of the following statements is TRUE about filing the FAFSA?
A. You should file the FAFSA for every year you will be in school
B. You only need to file the FAFSA if you received a tax refund
C. You only need to file the FAFSA if your parent/guardian's financial situation has changed
D. You only need to file the FAFSA if your financial situation has changed

1

Why is it best to file the FAFSA as early as possible? (Select 2 answers)
A. You have to pay to file the FAFSA once the Federal government receives a certain number of applications
B. Every college or university has its own FAFSA deadline. Filing early will help you meet all the deadlines.
C. The longer you wait, the Federal government adds additional steps to the FAFSA filing process, such as writing essays
D. Financial aid is awarded on a first come, first served basis

1

Which of the following does a college/university use to determine how much to award you in financial aid?
A. Cost of Attendance
B. Expected Family Contribution (EFC)
C. Financial Need

ARTICLE: What Is the Student Aid Report?

ARTICLE: What is EFC, or Expected Family Contribution?
After submitting your FAFSA, you will receive your Student Aid Report (SAR) which includes your Expected Family Contribution (EFC). Read the two articles to learn what these are and how they affect your family’s financial contribution to your education. Then, answer the questions.
5

What information does the Student Aid Report include? (list 5 things)

1

How long will it take to receive your Student Aid Report (SAR) once you submit your FAFSA?

1

Your friend Ally makes the following statement after receiving her SAR: “My EFC is so high and I don’t think my family can afford to pay that much out of pocket!” What can you tell her about the difference between her EFC and the amount she will likely pay for college?

Activity: Analyze a Student Aid Report
Once you complete the Free Application for Federal Student Aid (FAFSA), you will receive a Student Aid Report (SAR). This report will provide you with some very important information about:
  • your financial aid eligibility,
  • how much colleges assume your family will need to pay, and
  • what types of other aid you may be eligible for.
In this activity, you will analyze a Student Aid Report to become familiar with the information it contains and why that information is important in the college application process.
Part I: Read a Sample Student Aid Report
First, read this helpful guide to understanding your SAR. Then, review this sample Student Aid Report:

Part II: Analyze the Student Aid Report
Answer the questions below based on what you learned from the article and the information you found in the sample Student Aid Report.
PLEASE NOTE: Since this is a sample SAR, you may not find the information on the exact page referenced in the article.
1

What is Anna’s EFC (Expected Family Contribution)? What does this number mean?

1

What is Anna’s DRN? What is the purpose of this number?

1

Has Anna’s FAFSA been selected for verification? In your own words, describe what the process of verification is.

1

s Anna eligible to receive a Pell Grant? What is the maximum Pell Grant award for the current year? (Click here to see what the current limit is on a Pell Grant.)

3
  1. How much gross income did each of the following earn in 2020?
  2. Anna_______
  3. Parent #1_______
  4. Parent #2_______
1

On Anna’s SAR, the “Your Financial Aid History Information” section is blank or N/A. Why?

1

Why is it important to review all pages of this document carefully? What should Anna do if she finds an error?

1

Why do you think the graduation and retention rates for Anna’s selected colleges are displayed at the bottom of the SAR? How might that information impact Anna’s college selection process?

ARTICLE: 15 Myths We're Busting About the FAFSA Process

There is a lot of information surrounding the financial aid process and it can be a challenge to keep it all straight.  Now that you’ve seen the basics of FAFSA, let’s run down a list of common myths to test your knowledge. Then, verify your answers by skimming the article.
1

The FAFSA form is FREE to fill out

1

You shouldn’t fill out the FAFSA if your family income is too high

1

The FAFSA form is only used for federal student loans

1

You can begin filling out your FAFSA on October 1st

1

You only need to submit your FAFSA form once

1

Your EFC is the amount that you will have to pay for school

Math Connection- Filling out the FASFA at your School

FAFSA Completion

The US Department of Education releases data about the number of students who SUBMIT FAFSA forms but maybe don’t finish the process (maybe due to an error, missing signature, or being flagged for verification) and those that COMPLETE the entire FAFSA process for every high school in the country. Let’s help your guidance office by making and analyzing two way tables including data from the past few years so that they can track their FAFSA progress!
I printed this out for students, but the copy of the document is here: (pg 4) https://docs.google.com/document/d/1MRZ4qw_RLh1mbt-a4Zh0aKUWtPg6cHddIchPL7iMH10/edit?usp=sharing
Exit Ticket
1

The FAFSA is used to determine your eligibility for all of the following types of financial aid EXCEPT…
  1. Private loans
  2. Scholarships & grants
  3. Work-study
  4. Federal loans

1

Why is it important to know what your Expected Family Contribution (EFC) is?
  1. The EFC is the maximum amount of money you can earn in scholarships from a college/university
  2. You have to know what your EFC is in order to submit the FAFSA
  3. Schools use your EFC to calculate the maximum amount of need-based aid you are eligible for
  4. Your EFC determines how much you can borrow in private student loans

1

Select the statement that best describes the correct timeline of the FAFSA.
  1. The FAFSA becomes available on October 1st and because some financial aid funds are distributed on a first-come, first-served basis, you will want to fill it out as soon as possible
  2. The FAFSA becomes available on October 1st, however, there is no urgency or deadline to complete the form
  3. The FAFSA becomes available on January 1st, and because some financial aid funds are distributed on a first-come, first-served basis, you will want to fill it out as soon as possible
  4. The FAFSA becomes available on January 1st, however, there is no urgency or deadline to complete the form