We Would Like to Welcome You to Our Workshop!

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Financial Aid Planning for College

Presented by: OMH Partner Group, Inc.

OMH Partner Group, Inc. provides financial aid consultation services for a fee. Our services will determine the factors that impact your aid eligibility. You will be provided with appropriate recommendations to maximize college financial aid packages, or demonstrate as much financial need as legally possible. This does not guarantee any college financial aid, nor does it guarantee that we can increase your aid eligibility. Ultimately it is beyond our control and all financial aid packages are independently determined by

each college that you are applying for need based financial aid. Need based financial aid packages can and will include a combination of Federal Loans/Grants, Federal Work Study, State Grant Programs, Institutional Grants/Scholarships, and other various loan programs. Investment advisory services provided by Redhawk Wealth Advisors, Inc.,

an SEC-registered investment advisor. Insurance and Annuity products are sold separately through OMH Partner Group, Inc. Nothing contained in our website or this material is intended to provide tax or legal advice. Consult with your tax advisor and/or legal counsel for suitability regarding your specific situation. Hypothetical or

historical rates of return are not a guarantee of future results. Copyright 2013. OMH Partner Group, Inc. All rights reserved.

We Would Like to

Welcome You to Our

Workshop!

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Costs of Education

$0

$10

$20

$30

$40

$50

$60

$70

State

Out of State

Private

Ivy League

2012 Costs

2002 Costs

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Myths about Financial Aid

Myth #1

I make too much

money!

Myth #2

Let’s just fill out a

form and see what

happens!

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FAFSA & CSS Profile Forms

Free Application for Federal Student Aid

(FAFSA) Financial Aid Form

All Colleges Require Form

Submit Electronically After January 1

st

of Senior Year

Uses Federal Methodology

Free to File

www.fafsa.ed.gov

CSS Profile Financial Aid Form

Not All Colleges Require Form (Check with your colleges)

Can Submit Electronically as Early as October of Senior Year, Usually Done with

FAFSA in January of Senior Year

Uses Institutional Methodology

Charges an Application Fee and Charges Per College

http://profileonline.collegeboard.com

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The Information Entered On the

FAFSA and CSS Profile Financial Aid

Forms…

Goes Through One or Both of the

Methodologies. These Formulas

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Determine Your Expected Family

Contribution Level or EFC

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The EFC is Used to Determine

Financial Need at a College…

You Must Demonstrate Financial

Need in Order to be Eligible for

“Need Based” Financial Aid…

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Demonstrating Need

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Hypothetical Example

0

10

20

30

40

50

60

70

State

Out of State

Private

Ivy League

Need

EFC

Costs

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Where Does Aid Come From?

Federal Financial Aid Sources

Grants Programs (Require Low EFC Levels)

Loans (Subsidized and Unsubsidized Student Loans)

Work Study Programs

State of Illinois Financial Aid Sources

Grant Programs (Monetary Assistance Program or MAP)

State Resident Going to an Illinois College (Public or Private)

Eligibility Requirements (Required Certain EFC Limits)

Institutional or College Financial Aid Sources

Grant Programs (Includes Need, Merit, Academic, or Athletic)

Proprietary Institutional Loan Programs

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Award Letter

Once the student has been admitted and the

college has everything they need, they will issue

an award letter

This is your financial aid offer, they are not set in

stone.

Colleges will have an appeal process if needed

Shop, compare, and contrast is to your advantage

Multiple Award letters will give your more

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Special Circumstances

What is Considered a Special Circumstance?

Unemployment

Child Support Being Reduced or Eliminated

High Out of Pocket Medical

Other Financial Hardships

Letter of Special Circumstance Goes to Each

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Hypothetical Award Letter

College A

College B

Actual College Cost

$48,000

$48,000

EFC

$20,000

$20,000

Need

$28,000

$28,000

Federal Aid

Loans

$5,500

$5,500

Grants

$0

$0

Work Study

$2,500

$0

State Aid

Grants

$2,000

$0

Institutional Aid

Grants

$12,000

$22,500

Total Aid

$22,000

$28,000

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Understanding the Formulas & Process

If you understand the FORMULAS and

PROCESS in how they can impact your

eligibility, you could be at a significant

advantage over someone who does not

understand the different methodologies or

process.

A NEW PARADIGM…

FINANCIAL AID PLANNING

STRATEGIES!

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Students Assets & Income

Student Assets

Highest Assessment

20% Dollar One!

(25% for Profile)

Student Income

Student EFC

After $1,750

50%

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Parental Assets & Income

Parent Assets

After

Allowances

0-6%

Parent Income

Parent EFC

After

Allowances

0-47%

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Student EFC & Parental EFC

Expected Family Contribution Level (EFC)

Parents

EFC

Students

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What Assets Are Included?

REPORTABLE ASSETS (FAFSA)

Checking Accounts

Savings Accounts

Money Market Accounts

Mutual Funds

Corporate or Government

Bonds

Individual Stocks

Value of Business (Over 100

Employees)

Value of Property (Other Than

Primary Residence)

Farm (You Do Not Live On)

NON-REPORTABLE ASSETS

(FAFSA)

Family Home (Primary

Residence)

Cash Value of Life Insurance

Cash Value of IRA’s, 401K’s,

or Pensions

Annuities

Value of Business (Under

100 Employees)

Family Farm (You Live On)

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529 Savings Plans & 529 Prepaid

Tuition Plans

Both types of plans are treated identical with

regards to FAFSA & CSS Profile

Parent Owned 529’s are reportable on the

PARENTS side of the FAFSA & CSS Profile

Even Though UGMA/UTMA accounts are

Student owned assets…they are reportable on

the PARENTS side of the FAFSA & CSS Profile

Source:

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Retirement Plans and Contributions

HOW ARE RETIREMENT

CONTRIBUTIONS TREATED FOR

FAFSA?

Income

All Employee Deductable

Contributions to a Qualified

Retirement Plan are ADDED

Back on the INCOME side of

the FAFSA

HOW ARE RETIREMENT VALUES

TREATED FOR FAFSA?

Not Reportable as an Asset

Once the money is in the

qualified asset (IRA, 401K,

Pension, 403B, etc) the cash

value of that asset is not

reportable

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How many family members in college?

Always Count the Student that is applying for aid

Do not include your parents

Include others only if they will attend, at least

half-time in 2013-2014, a program that leads to a

college degree or certificate

If your EFC is 20K for the Family, than if there are

two in school it will be 10K for each family

member

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Widowed, Married, Remarried, or

Divorced Parents

Answer the questions as of the date you will complete and sign

your FAFSA.

If your parent is widowed or single, answer the questions about

that parent.

If your widowed parent is remarried, answer the questions about

that parent and your stepparent.

If your parents are divorced or separated, answer the questions

about the parent you lived with more during the past 12 months.

If you did not live with one parent more than the other, give

answers about the parent who provided more financial support

during the past 12 months.

If this parent is remarried, answer the questions about that parent

and your stepparent.

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Independent vs. Dependent

Can I Make My Student Independent?

Were you born before January 1, 1989?

On the day you submitted your FAFSA, were you married?

At the beginning of the 2013-2014 school year, will you be Graduate Student?

Active Duty in the US Armed Forces

Veteran of the US Armed Forces

Have Children (Receive More Than ½ Support)

Dependents of Your Own (Receive More Than ½ Support)

Parents Deceased, Ward of Court, or Foster Child

Emancipated Minor Determined By Court

Were You In Legal Guardianship Determined By Court

Determined to be an Unaccompanied Homeless Youth (As Determined by School

District, Emergency Shelter, Transitional Housing, Runaway or Homeless Youth

Center)

NOT TOO MANY HIGH SCHOOL SENIORS!

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What Does OMH Partner Group, Inc.

Do?

Provide Our Clients Comprehensive Financial Aid Planning Services

INVESTIGATE:

A thorough analysis of your financial situation as it

applies to the financial aid process and system

RECOMMEND:

Make any recommendations any strategies to

maximize your financial aid eligibility, use proven methods

IMPLEMENT:

We have the ability to implement the strategy so that

everything is set up correctly

FAFSA Preparation included, CSS Profile Preparation for an

additional cost

It is a comprehensive service that is designed to get you through

the entire year in which you are applying for financial aid!

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What’s Next?

If you are interested in using our

services please contact our office!

OMH Partner Group, Inc. provides financial aid consultation services for a fee. Our services will determine the factors that impact your aid eligibility. You will be provided with appropriate recommendations to maximize college financial aid packages, or demonstrate as much financial need as legally possible. This does not guarantee any college financial aid, nor does it guarantee that we can increase your aid eligibility. Ultimately it is beyond our control and all financial aid packages are independently determined by

each college that you are applying for need based financial aid. Need based financial aid packages can and will include a combination of Federal Loans/Grants, Federal Work Study, State Grant Programs, Institutional Grants/Scholarships, and other various loan programs. Investment advisory services provided by Redhawk Wealth Advisors, Inc.,

an SEC-registered investment advisor. Insurance and Annuity products are sold separately through OMH Partner Group, Inc. Nothing contained in our website or this material is intended to provide tax or legal advice. Consult with your tax advisor and/or legal counsel for suitability regarding your specific situation. Hypothetical or

historical rates of return are not a guarantee of future results. Copyright 2013. OMH Partner Group, Inc. All rights reserved.

OMH Partner Group, Inc.

Paul Daly, Investment Advisor

401 South Carlton Avenue, Suite 204

Wheaton, IL 60187

O: 630-510-3126

F: 630-510-3127

paul@omhpartnergroup.com

www.omhpartnergroup.com

We would like to Thank You for

coming to our seminar and look

forward to working with you and

your family!

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