Financing a Fairfield Education Orientation 2019 Presenters Gina

Financing a Fairfield Education Orientation 2019 Presenters: Gina Costa, Bursar Diana M. Draper, Director of Financial Aid

Today’s Agenda • Welcome Class of 2023! • • Introductions Office of the Bursar Office of Financial Aid Q&A

The What, When and How of Financing A Fairfield Education • Billing Information • Methods of Payment • Communications

Billing Information • Semester Basis: – Fall - 1 st week in July – Spring – 1 st week in December • Electronic Delivery: – Student accesses bill via my. Fairfield – Parents and/or guardians are granted Authorized User access by the Student and receive a URL in an email to access the site

Billing and Payment Site • Review the billing statements • View account activity • Make payments online via e-check

Authorized User

Authorized User Access

Fall Semester Bill • Line Item Charges: – Tuition (per semester) $24, 540 – General University Fee $ 750 – Orientation Fee $ 300 – Tuition Deposit $ <200> – Health Insurance $ 2, 277** * Fee removed once waiver is completed • If living ON campus – Room (per semester) $ 4, 640 Note: Room deposit credited at end of residency – Meal Plan (per semester) $ 2, 935

Meal Plans Plan Options Rate Per Semester Base Plan 14 Unlimited meals Meals/week plus per week plus Commuter meal 100 Dining 200 Dining plans available Dollars per Varies semester $2, 935 $3, 560

Methods of Payment Direct Payments to University: • Electronic Check via Online Billing Site • Personal Check - Mail or Drop-off in Person • 529 Payments – mail directly to University; Student ID and name on check Financial Aid • Approved University financial aid • Federal financial aid ‘MEMO’ • Private alternative loans Monthly Payment Plan • Payments made on Monthly Payment Plan site

Tuition Payment Plan Provided by Nelnet • Allows you to pay the semester tuition, room and board and fees in 5 equal monthly installments • Real-time integration with student account • May be used on a standalone basis or as a supplement to financial aid • Complete the enrollment form online Fairfield. afford. com

Plan Enrollment Terms - Fall Semester • 5 monthly payments June 1 st – October 1 st • Deadline to enroll is August 1 st • Enrollments after June 1 st pay missed monthly payments • $40 Enrollment fee due upon sign-up • Adjustments allowed prior to October 1 st due date

Determining Your Plan Amount Worksheet to calculate Monthly plan amount: **Use SEMESTER expenses and deductions for calculation** Eligible Cost: (reminder: books, personal expenses may not be included in monthly payment plan) Tuition $_____ Room & Board $_____ (Residence Hall or Townhouse or Apartment + Meal Plan cost) General Fee (Fall Only) $_____ Health Insurance $_____ (If not waiving) Total Eligible Expenses (A) = $_____ Deductions: Scholarships/ Grants Loans Direct Payments to School Total Deductions (B) Contract Amount Monthly Plan Divided by 5 months $_____ (University Aid or outside scholarships) $_____ (Federal Direct Loans, Federal Parent PLUS loans, Alternative loans) $_____ = $_____ (A-B) $_____ $ Monthly Payment Plan Amount

FERPA

Proxy Access • Per FERPA guidelines, students must designate approved person(s) to communicate with the Financial Aid and Bursar offices • Proxy assignment by the student is done in my. fairfield • Once designated by the student, the Proxy will receive a passphrase via email • Proxy access is granted for a 5 year period which can be modified or terminated by the student

Financial Aid and Your Bill If you do not see University aid or MEMO items on your bill: – Offer of aid may not have been accepted by your student – Required verification documents may be outstanding – File review may still be in process

Required Loan Documents • Direct Loans – Subsidized/Unsubsidized – Entrance Counseling – Loan Agreement for a SUB/UNSUB Loan (MPN) – Student Authorization Form • Direct Parent PLUS loan: – Apply (credit check) – Loan Agreement for a PLUS Loan (MPN) – Parent Authorization Form

Financing Options • Alternative Loans – For students or parents – Various repayment/interest terms – Fairfield University refers families to elmselect: www. elmselect. com

Federal Work Study • • • Email sent on how to apply for a FWS job Financial Aid file must be completed before work can begin Hiring documents completed with HR before work can begin Additional help during Infopalooza FWS does not credit the student account Strongly encourage direct deposit of student earnings

Financial Aid Renewal Policies • All renewal policies are available in the catalog • A student must reapply for financial aid each year by April 15 – both FAFSA and CSS Profile • The total aid awarded each year may vary as demonstrated financial need may vary • Student is maintaining satisfactory academic progress toward degree completion • Less than FT enrollment, drops, withdrawals and studying abroad may affect eligibility

Important Dates for Fall Semester Action Deadline • • Fall semester bill is generated Direct Loan documents due July 1 • • Fall semester payment is due Last day to enroll in Fall semester payment plan Verification documents August 1 • monthly • Best date to ensure timely processing of federal and university aid to avoid late fee September 15 • Final date for receipt of all loan proceeds *Late fee assessed after this date September 30 • 2020– 2021 Financial Aid cycle opens FAFSA and CSS Profile October 1 • Final date for Fall Aid to disburse December 9

Thank you! Office of the Bursar 203 -254 -4095 bursar@fairfield. edu Office of Financial Aid 203 -254 -4125 finaid@fairfield. edu