EARLY FINANCIAL AID APPLICATION

Transcription

1 EARLY FINANCIAL AID APPLICATION INSTRUCTIONS RECRUITED ATHLETES ONLY Step 1 COMPLETE THE EARLY FINANCIAL AID APPLICATION Complete all four pages of this application. Please do not leave any questions blank. Enter zero or N/A if appropriate. Use estimated 2015 income information, instead of copying reported 2014 federal tax information. (2014 tax information may be used as a reference guide.) Non-Custodial Parents: Complete the Early Financial Aid Application for Non-Custodial Parents Signatures: Remember to have both the student and a parent sign this application before sending it to our office. Student and Parent must complete and sign the Early Financial Aid Certification PageCertificaitep3 Step 2 ATTACH SIGNED COPIES OF 2014 FEDERAL TAX RETURNS Both Student & Parent taxes are required. Include all Schedules and W-2s. Print the Student s Name in the upper right corner of the Parent Tax Return. Acceptable Documents: Signed copy of IRS 1040, 1040A, 1040EZ, Puerto Rico. If you do not have a copy of your tax return, request a copy of your return from your preparer, appropriate agency, or from the IRS at (800) PARENTS: submit a copy of your most recent or final 2015 pay stub(s). Step 3 (if applicable) SUBMIT BUSINESS TAX RETURNS If your parent(s) own all or part of a Corporation, S Corporation, or Partnership: submit a complete and signed copy of 2014 IRS Form 1120, 1120S, or 1065, with K-1s and all related schedules. If your parent(s) own a Sole Proprietorship or a Farm: submit Schedules C or F along with the complete and signed 2014 IRS Form Step 4 BANNER SELF SERVICE To assist students and families with determining if all application requirements have been met, once we receive your Early Financial Aid Application, the student will receive an from Brown University containing a Banner ID and password. The ID and password will allow the student to log into Brown's Banner Self-Service to view application requirements. An will be sent to the student advising them their financial aid eligibility has been determined and is viewable on line in aid year. Award notifications will also be viewed and printed from Banner Self Service. Paper notifications will not be sent. Please Note: APPLICATION PROCESS This is NOT an official application for Financial Aid. If you are admitted to Brown University you must complete all Financial Aid Application materials. Application materials include: CSS Profile, FAFSA (Free Application for Federal Student Aid), Business Tax Returns (if applicable), Non-Custodial Profile (if applicable), and 2015 federal tax returns submitted to IDOC. Please visit our website for more information regarding application requirements for all first year Brown applicants. If you do not complete the necessary application requirements by the published deadline, you risk losing your eligibility for financial aid for the academic year. Please complete and submit all relevant forms to: Brown University Office of Financial Aid Attn: Early Estimated Awards Box 1827 Providence, RI Fax (401) (pdf attachments): financial_aid@brown.edu

2 EARLY FINANCIAL AID APPLICATION RECRUITED ATHLETES ONLY I. STUDENT INFORMATION Student s Name Last First Middle Address: Street City State Zip Student s Preferred Phone Number Student s date of birth Student s Social Security Number Student s Citizenship II. PARENTS INFORMATION What is the current marital status of your parents? Married Separated Divorced Widowed Unmarried but live together If remarried, date of remarriage If divorced, date of divorce Name of non custodial parent Note: If parents are divorced/separated, the non custodial parent must complete the non Custodial Parent Early Athletic Application If remarried, please include current spouse and their income and asset information Parent 1 Step Parent 1 Parent 2 Step Parent 2 Name Date of Birth Name Date of Birth Occupation Occupation Employer No. Years Employer No. Years Preferred daytime telephone Preferred daytime telephone What is your parent s state of legal residence? Amount parent(s) think they will be able to pay for college expenses? $ Tuition benefits from the parents employer $ page 1

3 III. PARENT INCOME INFORMATION INCOME Will you file a 2015 U.S. Federal Tax Return? Yes No 2015 Estimated total number of exemptions $ 2015 Estimated Adjusted Gross Income $ a. Wages, Salaries, Tips $ b. Interest income $ c. Dividend income $ d. Net income (or loss) from business, farm, rents, royalties, partnerships, estates, trusts, etc. $ e. Other taxable income such as alimony, capital gains (or losses), pensions, annuities, etc. $ f. Adjustments to income $ 2015 Estimated income tax paid $ 2015 Estimated Education Credits Hope and Lifetime Learning $ 2015 Estimated itemized deductions $ 2015 Estimated wages earned from work by parent/step-parent 1 $ 2015 Estimated wages earned from work by parent/step-parent 2 $ 2015 ESTIMATED UNTAXED INCOME AND BENEFITS a. Social Security benefits received for all family members except the student $ b. Social Security benefits received for the student $ c. Temporary Assistance for Needy Families (TANF) $ d. Child support received for all children $ e. Deductible IRA and/or SEP, SIMPLE, or Keogh payments $ f. Contributions to tax deferred pension and savings plans $ g. Earned Income Credit $ h. Housing, food, and other living allowances received by military, clergy, and others $ i. Tax-exempt interest income $ j. Foreign income exclusion $ k. Pre-tax Contributions to Flex Spending Accounts for child care or health spending $ l. Pre-tax Contributions or Deductions to Health Savings Account (HSA) $ m. Other $ IV. PARENTS 2016 EXPECTED INCOME 2016 Income earned from work by parent/step-parent 1 $ 2016 Income earned from work by parent/step-parent 2 $ 2016 Other taxable income $ 2016 Untaxed income and benefits $ page 2

4 V. PARENT ASSETS & BUSINESS VALUE Asset Type Cash, Saving and Checking Accounts $ Investments Include stocks, bonds, money market accounts, savings bonds, CDs, and college savings and pre-paid tuition plans established by parents. Do not include the value of investments in a qualified retirement plan, such as an IRA or 401(k). $ Total current value of Parents Retirement Accounts $ Total value of assets held in the names of the student s brothers and sisters who are under age 19 and not in college. $ Current Market Value (as of today) Asset Type Year Purchased Purchase Price Current Market Value (as of today) Current Debt Home Include home equity loans in the total debt reported. Monthly Mortgage or Rent $ $ $ $ Other Real Estate Include the value and debt of all other real estate that you own. $ $ $ Business or Self Employment If your parents are self employed or own a business, please provide the business name, description of the business and the fair market value of your parents share of ownership in the business. Fair Market Value is the price at which the business could be sold. Please estimate the amount of net proceeds your parents would receive if they sold their share of the business. Legal Name of Business Type (LLC, Corporation, Sole Proprietorship, etc) Fair Market Value & Description of Business VI PARENT EXPENSES Expense: Total payments made in 2015 Medical/Dental Expenses NOT covered by insurance (including insurance premiums paid on an after-tax basis). If you did not complete the medical/dental section of Schedule A with your 2015 federal income tax return, $ /yr please submit a detailed explanation of these expenses. Child Support Paid Indicate the amount of support paid by your parent(s) for each child who resides in another household. $ /yr Educational Loan Payments Minimum payment amount. $ /yr Include only minimum payments required for educational loans IN PARENT(S) NAME, including any portion of home debt taken to finance education. Do not include loan payments for students in the household who are currently pursuing an undergraduate degree. Private Elementary/High School Tuition for sibling(s) of Brown student $ /yr Include only expenses paid out-of-pocket. Name of Private Elementary/High School Name of sibling attending $ $ VII. STUDENT INCOME AND ASSET INFORMATION INCOME Will you file a 2015 U.S. Federal Tax Return? Yes No 2015 Estimated Adjusted Gross Income $ 2015 Estimated income tax paid $ 2015 Estimated income earned from work $ 2015 Estimated dividend and interest income $ 2015 Estimated Social Security Benefits $ When will/did these benefits end? ASSETS Cash, savings, and checking accounts (as of today) $ Total value of noneducation IRA Keogh, 401(k), 403(b), etc. accounts as of December 31, 2015 $ Investments: Current market value (Including Uniform Gifts to Minors) $ Total Value of all trust(s) $ Who established the trust(s)? Student s parent Other page 3

5 VIII. HOUSEHOLD INFORMATION Complete the grid below listing all people living in your parent s household. Please review the following instructions carefully before completing this section of the application. Household members, include: Yourself and the parent(s) you live with (including stepparent, if applicable). Your parent(s) other children: Include children living with you. Also include children if they do not live with you, but your parent(s) will provide more than half of their financial support from July 1, 2015 through June 30, Other people if they now live with you and your parent(s), and your parent(s) provide more than half of their financial support and will continue to do so from July 1, 2015 through June 30, Educational Information / Number of students in college: The number of students attending a postsecondary institution can have a significant impact on the amount of aid a family is eligible to receive. For purposes of financial aid, attend equates to half-time attendance or greater in a degree or certificate granting program. Siblings who attend less than half-time will not be counted as in college for purposes of financial aid. Sibling Enrollment status will be verified each year in the fall. If you know of a change to the sibling enrollment status before we request verification, please notify our office in writing. A change in sibling enrollment status will result in an adjustment to your financial aid award. Please notify us of any change immediately. List All Household Members Educational Information, if applicable Name Relationship Age Name of College/University student will attend during 2016/2017 academic year Year in School (Fr, So, Jr, Sr) Graduate or Undergrad Full-time or Part-time Parent s Contribution (Out-Of-Pocket Expenses) 1. self Brown University XXXXX XXXXX IX. SPECIAL CIRCUMSTANCES Please use the following space to answer any questions more completely or to explain any special circumstances you wish to bring to the attention of the Office of Financial Aid. Please be as specific as possible, including dates, dollar amounts and documentation when appropriate. X. CERTIFICATION I/We certify that the information reported on this application is true and accurate to the best of my/our knowledge. Student Signature (REQUIRED) Date Parent Signature (REQUIRED) Date Box 1827 Providence, RI Tel (401) Fax (401) page 4

6 EARLY FINANCIAL AID CERTIFICATION RECRUITED ATHLETES ONLY Please sign this form and submit it along with your Early Financial Aid Application. Certification Student Name (printed): I/We certify that the information reported on this application is true and accurate to the best of my/our knowledge. I/We understand this is not an official application for financial aid. I/We understand we must complete all financial aid application requirements to receive an official financial aid award letter. (Financial Aid application requirements are: CSS Profile, FAFSA, Business Tax Returns (if applicable), Non-Custodial Profile (if applicable), and federal tax returns submitted to IDOC. Please visit our web site for more information regarding application requirements.) This early estimate is based current Brown University policies and on the information you provided to our office. The estimated family contribution was based on the estimated 2015 income and assets. Should Brown University policies change and/or your actual 2015 household, income, and/or asset information differ in any respects from that reported, this estimate will be revised. Please sign below and return to the Office of Financial Aid. Student Signature (REQUIRED): Parent Signature (REQUIRED): IX. SPECIAL CIRCUMSTANCES Date: Date: Office of Financial Aid Brown University Box 1827 Providence, RI Phone: (401) Fax: (401)