Financial Aid Office of Student Financial Assistance 1

Financial Aid Office of Student Financial Assistance 1

WHAT WE WILL COVER Cost of Attendance Eligibility Types of Aid Office of Student Financial Assistance 2

ESTIMATED COST OF ATTENDANCE 9 MONTH ACADEMIC YEAR (14 -15) DIRECT COSTS Tuition & fees (15 hours-Fall & Spring) $8772 Books (varies) 1192 Room and board-dorm (varies) 8868 SUBTOTAL $18, 832 INDIRECT COSTS Misc. costs (varies) Transportation (varies) TOTAL EST. COST Office of Student Financial Assistance $1854 3000 $23, 686 3

Out of State & Foreign students, add about $10, 000 per year. Office of Student Financial Assistance 4

Planning for the Cost to Attend College PLANNING YOUR EXPENSES Tuition, Fees & Misc. $_____ Books $_____ Supplies $_____ Fraternity or Sorority dues $______ Dorm/Rent $______ Utilities $______ Telephone $______ Furnishings $______ Food/Board $______ Snacks/Beverages $______ Restaurants $______ Clothing $_____ Laundry/Cleaning $_____ Commuting $_____ Trips home $_____ Car Payments $_____ Auto/Gas/Maint $_____ Entertainment $_____ Dates $_____ Tapes/CD’s $_____ Movies $_____ Sports/Fitness $_____ Childcare $_____ Insurance $______ Car $______ Renters Ins. $______ Medical/Dental $______ Prescriptions $______ Miscellaneous $___________ $______ Emergencies $______ Gifts/Contributions $______ Total Expenses $______ MEETING YOUR EXPENSES / EXPECTED FAMILY CONTRIBUTION / FINANCIAL ASSISTANCE You & Your Family Financial Aid Savings $_____ State Grants $_____ Parent Income $_____ Scholarships – College $_____ Total Family Resources $_____ Gifts $_____ Scholarships – Other $_____ Loans $_____ Federal Pell Grant $_____ + Total Financial Aid $_____ Your Job Earnings $_____ Federal SEOG $_____ Investments $_____ Other Grants $_____ - Total Expenses $_____ Federal Benefits $_____ Federal Work Study $_____ State Benefits $_____ Federal Perkins Loan $_____ = Funds still needed (if any) $_____ Federal Sub Stafford $_____ Total Family Resources $_____ Federal Unsub Stafford $_____ Federal Parent PLUS loan $_____ Total Financial Aid $_____ Office of Student Financial Assistance 5

DOCUMENTS NEEDED TO DETERMINE ELIGIBILITY Free Application for Federal Student Aid (FAFSA) can be found at www. fafsa. ed. gov Electronic Processing is Recommended Verification documents, Student and Parent Tax Transcripts (if requested) Office of Student Financial Assistance 6

TASFA Applications Undocumented students, those without a social security number, must complete a TASFA Application Not eligible for federal financial aid, including work-study. www. collegeforalltexans. com Office of Student Financial Assistance 7

FINANCIAL NEED ANALYSIS COST OF EDUCATION u Tuition & fees u Books & supplies u Travel u Room & board u Personal expenses ¾ TOTAL FAMILY CONTRIBUTION u Student contribution u Parent contribution __________________ = FINANCIAL AID NEED Office of Student Financial Assistance 8

TYPES OF FINANCIAL ASSISTANCE v. GRANTS u Based on need u Federal, State, University Office of Student Financial Assistance 9

TYPES OF FINANCIAL ASSISTANCE (Continued) v LOANS u Based on need, such as Subsidized u Some loan programs are NOT based on need, such as Unsubsidized Interest rates as of July 1, 2014: Direct – Sub 4. 66%, Unsub 4. 66%; Parent Plus – 7. 21% v WORK STUDY u Part-time work u Based on need v SCHOLARSHIPS Office of Student Financial Assistance 10

SFA’s Purple Promise Program This program supplements other gift aid up to the grant cap to pay remaining tuition and fees owed for 15 hours each fall and spring. Eligibility requirements: Must be a Texas Resident Must be a first-time freshman Must have a combined family Adjusted Gross Income (AGI) of $30, 000 or less Must complete all financial aid application requirements by June 1 Must enroll in 15 semester credit hours each fall and spring Must maintain a 2. 2 GPA Office of Student Financial Assistance 11

Federal TEACH Grant Program u Up to $4, 000 per year four years u For students who plan on becoming teachers & meet certain specified requirements u Must have & maintain at least 3. 25 GPA or higher u If a student receives a TEACH grant & does not complete the required teaching service obligation, the grant must be repaid as a Federal Direct Unsubsidized Loan. u Go to www. teachgrant. ed. gov to learn more. Office of Student Financial Assistance 12

FINANCIAL AID SAMPLE AWARD PACKAGE Low Parental Contribution High Parental Contribution $21, 214 cost -$ 0 parent/student contribution $21, 214 need $21, 214 - $10, 500 $10, 714 AID AWARDED $5, 550 Pell Grant $2, 950 Purple Promise Grant $4, 400 Work Study $5, 500 Student Loan $2, 814 Parent Loan______ $21, 214 Total Aid Package cost parent/student contribution need YO AI D P UR ACKA GE MA Y V ARY AID AWARDED $4, 400 Work Study $5, 500 Student Loan $11, 314___Parent Loan ____ $21, 214 Total Aid Package Office of Student Financial Assistance 13

Putting the Pieces Together Tuition Rate Calculator http: //www. sfasu. edu/controller/businessoffice/students/tuiti on_calc. asp Residence Halls and Meal Plans http: //www. sfasu. edu/reslife/102. asp SFA Award Letter (available in Spring) https: //mysfa-prod. sfasu. edu/cp/home/displaylogin Fixed Rate Tuition Plan http: //www. sfasu. edu/policies/fixed-rate-tuition-plan. pdf Office of Student Financial Assistance 14

Financial Aid Process Submit FAFSA/TASFA Financial Aid Officer determines eligibility once application is received and verification is complete Financial Aid Awards are packaged and notification is sent to the student via my. SFA. Terms and Conditions must be accepted, and awards can then be reviewed and accepted. Financial Aid is disbursed to the bill, which includes housing, meal plan, and tuition and fees. Office of Student Financial Assistance 15

TIPS FOR MAKING APPLICATION 4 Do your taxes as early as possible each year. 4 Apply on-line, and use data retrieval for your tax information. 4 Respond promptly to any request for information from the Financial Aid office. 4 Plan ahead; work out a budget. 4 Don’t wait until the last minute. 4 If you’re lost or confused, make an appointment with a counselor or call us. Office of Student Financial Assistance 16

PRIORITY DATES FOR MAKING APPLICATION èFebruary 1, 2015 – Scholarship Application èMarch 1, 2015 - Summer 2015 enrollment èMarch 15, 2015 - 2015 -2016 academic year Office of Student Financial Assistance 17

For Your Convenience Ø Applications, forms and financial aid awards are available on the web. Ø All correspondence are made through the student’s SFA issued email account. Office of Student Financial Assistance 18

Financial Aid Officers Necole Beason A–D La. Shanda Parkhurst F–J Tammy Mitchum E, K – N Sara Williams O–S Donna Story T–Z Office of Student Financial Assistance 19

OFFICE OF STUDENT FINANCIAL ASSISTANCE v 1 st Floor, Austin Building Room 104 Phone: 936 -468 -2403 v www. sfasu. edu/faid v FAFSA on the Web www. fafsa. ed. gov Office of Student Financial Assistance 20