5/31 FA 9.4 FASFA

Instructions

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

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.

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

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

1

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?

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

3

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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

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

1

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

1

Why is it important to know what your Expected Family Contribution (EFC) is?
The EFC is the maximum amount of money you can earn in scholarships from a college/university
You have to know what your EFC is in order to submit the FAFSA
Schools use your EFC to calculate the maximum amount of need-based aid you are eligible for
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.
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
The FAFSA becomes available on October 1st, however, there is no urgency or deadline to complete the form
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
The FAFSA becomes available on January 1st, however, there is no urgency or deadline to complete the form

OBJECTIVES & STANDARDS

DISTRIBUTION & PLANNING

OBJECTIVES & STANDARDS

DISTRIBUTION & PLANNING

5/31 FA 9.4 FASFA

OBJECTIVES & STANDARDS

DISTRIBUTION & PLANNING

OBJECTIVES & STANDARDS

DISTRIBUTION & PLANNING

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

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

EDPUZZLE: FAFSA Overview

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

ARTICLE: What Is the Student Aid Report?

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

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

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?

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

FAFSA Completion

The FAFSA is used to determine your eligibility for all of the following types of financial aid EXCEPT…Private loansScholarships & grantsWork-studyFederal loans

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

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

EDPUZZLE: FAFSA Overview

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

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

ARTICLE: What Is the Student Aid Report?

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

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

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?

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

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

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

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.)

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

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

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

The FAFSA form is FREE to fill out

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

The FAFSA form is only used for federal student loans

You can begin filling out your FAFSA on October 1st

You only need to submit your FAFSA form once

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

FAFSA Completion

The FAFSA is used to determine your eligibility for all of the following types of financial aid EXCEPT…Private loansScholarships & grantsWork-studyFederal loans

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

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

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

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

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.)

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

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

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?

The FAFSA form is FREE to fill out

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

The FAFSA form is only used for federal student loans

You can begin filling out your FAFSA on October 1st

You only need to submit your FAFSA form once

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

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

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

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

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