1 Information for FINANCIAL AID RECIPIENTS ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 20 EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS ESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN ON FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESH An investment in knowledge always pays the best interest. Benjamin Franklin
2 CLASS FRESH DECISI 2019 E Congratulations on your admission to Penn! On behalf of Student Registration and Financial Services, welcome to the University of Pennsylvania. We are pleased to provide the enclosed financial aid award, which was determined upon careful review of your financial aid application. I encourage you to read this material carefully to gain a good understanding of the terms of your award. In addition to explaining your award, this booklet outlines your next steps to finalize and disburse your aid. Information about payment options is also included. To review your financial aid award online, and compare payment options, use our interactive financial planning tool, PennPlan online. Log on to this secure site through the Office of Admissions website at upenn.edu/decisions and select My PennPlan online. Should you need additional assistance, do not hesitate to contact us. We look forward to helping you pay for your Penn education Sincerely, Joel B. Carstens University Director of Financial Aid PENN S ALL-GRANT, NO-LOAN POLICY Penn stands out as one of the few universities that does not include loans in financial aid packages. Dependent undergraduate students eligible for financial aid receive loan-free aid packages, regardless of family income level. The policy applies to those dependent undergraduate students in the College of Arts and Sciences, the School of Nursing, the School of Engineering and Applied Sciences, and the Wharton School, who are pursuing their first baccalaureate degree. The All-Grant, No-Loan policy demonstrates Penn s commitment to widen access for qualified students from all economic backgrounds.
3 OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EA MEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLAS ON FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESH ARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECIS contents COST OF ATTENDANCE... pg. 1 HOW FINANCIAL NEED IS DETERMINED... pg. 2 TO FINALIZE YOUR FINANCIAL AID AWARD... pg. 3 SUMMER FINANCIAL AID PROGRAM... pg. 3 CONTINUING FINANCIAL ASSISTANCE IN UPPERCLASS YEARS.... pg. 3 FINANCIAL AID FUNDS... pg. 3 Grants and Scholarships Penn Grant and University Named Scholarships... pg. 4 Federal Supplemental Educational Opportunity Grant (SEOG)... pg. 4 Federal Pell Grant... pg. 4 State Grants.... pg. 4 Outside Scholarships... pg. 4 Taxability of Grants... pg. 4 Work-Study... pg. 4 PAYMENT OPTIONS... pg. 5 A Word About Loans.... pg. 5 Penn Monthly Budget Plan... pg. 5 PAYMENT OPTIONS COMPARISON CHART... pg. 6 Federal Direct Loan.... pg. 6 Federal Direct PLUS... pg. 6 Penn Monthly Budget Plan... pg. 6 WORKSHEET... pg. 7 HOW TO APPLY FOR A STATE GRANT pg. 8 HOW TO FILE A FAFSA (FREE APPLICATION FOR FEDERAL STUDENT AID).... pg. 9 RECEIVING AND PAYING YOUR BILL... pg. 10 CHECKLIST FOR THE NEXT STEPS... pg. 11 HOW TO CONTACT STUDENT FINANCIAL SERVICES... pg. 12 OTHER CONTACTS... pg. 13 FERPA The federal government views your educational information, both financial and academic, as yours, regardless of who pays your educational expenses. Therefore, federal guidelines require that students provide written permission before we can share financial information with any third party, including parents or spouses. A summary of University policy on the privacy of student records, which include rights under the Family Educational Rights and Privacy Act ( FERPA ), is available at Penn s Privacy site at POLICY ON EQUAL OPPORTUNITY AND AFFIRMATIVE ACTION The University of Pennsylvania s special character is reflected in the diversity of the Penn community. Diversity is prized at Penn as a central component of its mission and helps create an educational and working environment that best supports the University s commitment to excellence in teaching, research, and scholarship. We seek talented faculty, students and staff who will constitute a vibrant community that draws on the strength that comes with a substantive institutional commitment to diversity along dimensions of race, ethnicity, gender, sexual orientation, age, religion, disability, veteran status, interests, perspectives, and socioeconomic status. Grounded in equal opportunity, nondiscrimination, and affirmative action, Penn s robust commitment to diversity is fundamental to the University s mission of advancing knowledge, educating leaders for all sectors of society, and public service. The University of Pennsylvania prohibits unlawful discrimination based on race, color, sex, sexual orientation, gender identity, religion, creed, national or ethnic origin, citizenship status, age, disability, veteran status, or any other legally protected class. Penn is committed to ensuring that its academic, social, recreational programs and services as well as opportunities for admission and employment are available on an equitable and nondiscriminatory basis without regard to an individual s legally protected class status. Penn also has written affirmative action programs to address any underrepresentation of women, minorities, people with disabilities, and qualified covered veterans. The Office of Affirmative Action and Equal Opportunity Programs, in collaboration with the Division of Human Resources and the Office of the Provost, oversees the implementation and administration of the University s equal opportunity, affirmative action, and nondiscrimination policies and programs. The University recognizes the right of members of the community to raise questions and pursue complaints of discrimination and adheres to a strict policy that prohibits retaliation for doing so. Questions, complaints of alleged discrimination, or concerns regarding these policies or their implementation may be directed to the Executive Director, Office of Affirmative Action and Equal Opportunity Programs, Sansom Place East, Suite 228, 3600 Chestnut Street, Philadelphia, PA , (215) or Fax number (215)
4 ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 19 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D 1 cost of attendance We based your financial aid award on this year s cost of attendance. We will mail you a revised aid notice in April that will be based on the cost of attendance, provided we have received your 2014 tax returns. Cost of Attendance / Current Academic Year Living On/Off Campus Living with Family Tuition and Mandatory Fees $47,668 $47,668 Housing 8,688 0 Meals or Dining 4,776 2,264 Books 1,220 1,220 Personal Expenses 1,848 1,848 Total Cost $64,200 $53,000 Tuition and fees are fixed costs. Mandatory fees include the general fee, educational technology fee, recreation fee, and the student health clinical fee. The housing allowance is based on the median room rate in the University College Houses. To stay within the allowance, be conscious of your room selection, and choose it by the Penn Housing deadline. The meal allowance represents the cost of a first year plan offered through Penn Dining. For students living at home with their family, an allowance for meals away from home is included. Personal expenses include allowances for clothing, laundry, telephone, and recreation. A travel allowance is included for students who live at home with their family, or for residential students who live on or off-campus and whose home is a considerable distance from Penn. This allowance approximates the lowest fare of two round trips a year. If a travel allowance is included in your cost of attendance, it is reflected on your financial aid notice. Note: All freshmen are required to live on campus and participate in a meal plan during their first year of enrollment. Other Expenses Other expenses not included in the cost of attendance are: laboratory fees for certain courses, the College House Program fee if you live in College Housing, the New Student Orientation fee, and student health insurance, if applicable. Upon request, financial aid may be available to assist you with these costs. For an explanation of fees, please askben on the SFS website. Student Health Insurance All full time students are required to have comprehensive health insurance. Students who do not have insurance, whose plans do not provide coverage in the Philadelphia area, or whose plans do not meet Penn s criteria for alternative insurance will automatically be enrolled in the Penn Student Insurance Plan (PSIP). For details about submitting proof of valid insurance, and for the plan cost, visit Student Health Service at
5 9 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS ECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION F how financial need is determined Financial aid is awarded based on your evaluated financial need. To arrive at your financial need, we subtract your family contribution, as determined by Student Financial Services, from Penn s cost of attendance. Family Contribution The University of Pennsylvania s need-based aid program is based on the principle that education is first and foremost the responsibility of you and your family. Therefore, Penn awards financial aid to supplement, not replace, your family s ability to pay. Our goal is to assist as many families as possible in a fair and equitable manner. Your family contribution includes contributions from both you and your parents. Your parents contribution is determined by considering income, assets, family size, all taxes paid, number of dependent children in college or private school and the cost of each school, and special circumstances. Cost of Attendance (COA) Family Contribution = Financial Need Your student contribution includes a portion of your current savings, a portion of dividend and interest income, and savings from summer of 2015 employment. Penn generally expects you to save about $2,500 from your summer earnings. Reevaluation of Financial Aid Penn s financial assistance program includes both need-based financial aid and payment options. You should consider all types of assistance when assessing your capacity to pay for your education. We strive to be as responsive as possible to each family s situation. While it may not be possible for us to adjust your aid, we can consider requests for reevaluation of the expected family contribution at any time when: your family has experienced a change in financial circumstances such as unemployment, a reduction in family income, or recent divorce/separation OR your family has extenuating circumstances that distinguish them from other families of similar income and characteristics, and that were not considered in the initial determination of aid eligibility To request a reevaluation, submit an Application for Reevaluation. Both your and your parents most recent federal tax returns, all pages, schedules and W-2 forms must accompany the application, unless you have previously submitted them. The Application for Reevaluation can be found in the Forms section of the SFS website. Education Tax Credits Some families may be eligible for a non-refundable federal tax credit or deduction for qualified payments of tuition and related expenses. Additional information is available in the Special Policies section of the SFS website. 2
6 ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 19 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D to finalize your financial aid award To finalize your award, you need to submit the following: FAFSA: File a Free Application for Federal Student Aid (FAFSA) between January 1 and April 15, (Students from Connecticut, Rhode Island and Vermont must file before April 15. See page 8) Tax Returns and W-2s: Your financial aid award is considered preliminary until your 2014 tax documents have been reviewed by our office. Submit signed copies of your parents and your 2014 federal income tax returns by February 16, 2015, or as soon as they are available. Be sure to include all pages, schedules and W-2 forms. After we receive and review these documents, we will confirm your aid eligibility. Your award may be adjusted in cases where tax information differs from what was reported on the PROFILE and Penn Financial Aid Supplement. 3 Sibling Enrollment Certification: If you indicated that you will have a sibling enrolled in college in , your financial aid was awarded based on this information. As plans sometimes change, Penn will request certification from your sibling s school in August. Your award will be adjusted in cases where information on the certification form differs from what was previously reported on your financial aid application. summer financial aid program Penn s commitment is to aid you for the academic year. We have a limited summer financial aid program consisting of loan assistance. If you enroll in summer sessions, keep in mind that you will incur debt. Financial aid applications for summer sessions will be available on our website in mid-march. continuing financial assistance in upperclass years Your financial aid award should be similar throughout your undergraduate years, as long as your family s financial situation remains somewhat the same. Summer savings expectations are higher for upperclass students than for entering freshmen since the summer break is one month longer for enrolled students. You should also expect some increase in the work-study component of your aid package each year. You must reapply for financial aid in order to qualify in subsequent years. Financial aid applications for the academic year will be available on the SFS website in January, 2016; the deadline will be April 22, financial aid funds To be eligible for assistance from any of the following federal aid programs: Federal Pell Grant Federal Supplemental Educational Opportunity Grant (SEOG) Federal Direct Loan Federal Work-Study (FWS) You must: File a FAFSA Make satisfactory academic progress Not be in default on a Federal Perkins, Federal Stafford, or a Federal Direct Loan Not owe a refund on a Pell Grant or Supplemental Educational Opportunity Grant (SEOG) Eligibility for State Funds You may be eligible for a state grant if you are a resident of Connecticut, Delaware, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont, or West Virginia. See page 8 for details. Eligibility for Institutional Funds Penn grants and named scholarships are based on your financial need as determined by Penn.
7 9 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS ECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION F grants & scholarships Penn Grant and University Named Scholarships These awards are made from either general University funds or specific endowment funds earmarked by the donor for financial aid. Both Penn Grant and named scholarships are awarded based on evaluated financial need. However, some donors may have stipulated additional criteria (e.g. school, major, etc.). Federal Supplemental Educational Opportunity Grant (SEOG) Penn selects recipients of this federally funded grant based on evaluated financial need. Federal Pell Grant Eligibility for this federal grant is determined by the U.S. Department of Education, and is based on your FAFSA. The Pell Grant on your financial aid notice is an estimate. Actual credit will be applied to your student account after your FAFSA information has been verified according to federal regulations. Enrollment in fewer than four course units a semester will affect the amount of your Pell Grant. University Grant/Scholarship is not available to replace a Pell Grant if you are considered eligible but do not apply, or apply late. Therefore, be certain to submit a FAFSA between January 1 and April 15, State Grants If you qualify for a state grant, the amount on your financial aid notice is an estimate. If you receive a state grant that differs from our estimate, or it was not included in your award, your University grant will be adjusted so that your total grant aid remains the same. Students from Connecticut, Delaware, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont, and West Virginia must submit a FAFSA by their state s deadline. Residents of Vermont, and D.C. must also submit a state application. University Grant/Scholarship is not available to replace state grant funds if you miss the deadline. See page 8 for details. Outside Scholarships When you receive an outside scholarship (i.e., scholarships awarded from non-governmental sources outside the University), you will receive a dollar for dollar reduction in the self-help component of your financial aid package. Self-help includes expected savings from summer earnings and work-study. University grant will be reduced only after all self-help has been eliminated. You are required to report to Student Financial Services all scholarships or grants awarded to you from any source outside the University. Scholarship checks and correspondence should be mailed to the address listed on the outside back cover. Taxability of Grants Students receiving grants should be aware that total grant aid in excess of tuition, fees, books and supplies required for courses of instruction is subject to federal income taxation. In some cases, the University is required by the Internal Revenue Code to withhold federal income tax on grant awards to non-resident aliens. Consult your tax advisor if you have any questions. work study Student Financial Services awards work-study to eligible students for the academic year. Work-Study job earnings are not credited to your student bill; you will be paid weekly based on the actual hours you work. For details, review the Student Employment website at While we encourage you to use your work-study award, you may decide to replace part, or all, of this resource with a Federal Direct Loan. Review A Word About Loans on page 5 first, then contact our office if you need assistance. 4
8 ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARL payment options Now that you have your financial aid award, you and your family need to decide how to pay your family contribution. Will you pay it in full at the beginning of each term? Would you prefer to budget it over ten months without interest? Or, do you prefer to extend your payments over a longer term with a loan? To explore these ideas, review the information below and complete the Worksheet on page 7. Note: You may prefer to complete these steps online. If so, access PennPlan online through the Admissions Applicant Portal. Penn Monthly Budget Plan The Penn Monthly Budget Plan is one way to extend your payments. Budget your payments over 10 months without interest. Payments begin in May and end in February. Details are on page 6. 5 A Word About Loans Penn s No-Loan Policy Penn stands out as one of the few universities that does not include loans in aid packages for traditional, dependent students. This means 100% of your need is met with a work-study job and grants. However, most students are eligible to borrow through the Federal Direct Loan Program. If you do choose to borrow, we recommend that you borrow only what you need, even if you are eligible for a higher amount, and only to accomplish a specific goal, such as: in lieu of using your work-study job to replace some of the expected summer earnings to cover approved expenses not included in the standard cost of attendance Types of Loans Federal Loans Federal loans (Direct Loan for students and Direct PLUS Loan for parents) should be your first choice. Federal loans often have better terms, as well as loan consolidation, flexible repayment options, and income-based repayment. See page 6. Alternative Educational Loans A number of private lenders and other financial institutions offer education loans to students. These loans are not subsidized. A co-signer is often needed, especially for international students. If you think you need an alternative loan, visit our website at Home Equity Loans or Lines of Credit These loans are secured by home equity and can offer tax advantages and longer repayment schedules. Consumer Education Loans These loans are marketed by lenders who by-pass the schools, mailing information directly to you and your family. These are generally the least desirable loan products. Repaying Your Loan Penn students have found loan repayment to be manageable. The default rate for Federal Direct Loan borrowers at Penn is 1.3%, well below the national average. For More Information We urge you to educate yourself about student loans and repayment. These websites offer additional information that is helpful:
9 9 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS Y DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISIO payment options comparision chart Eligibility Amounts Student Program Parent Programs Federal Direct Loan Federal Direct PLUS Loan U.S. citizen or permanent resident Enrolled at least half-time in a degree program Grade Level Annual Maximum for Dependent Students Annual Maximum for Independent Students Limit on Subsidized Amount U.S. citizen or permanent resident Enrolled at least halftime in degree program No adverse credit history Cost of education minus other financial aid Penn Monthly Budget Plan Any Penn student You determine the amount each year Interest Rates* Freshmen $5,500 $9,500 $3,500 Sophomore $6,500 $10,500 $4,500 Jr./Sr. $7,500 $12,500 $5,500 Note: The annual maximum may not exceed Penn s cost of attendance less any other financial assistance you receive. Subsidized 4.66% for loans disbursed July 1, 2014-June 30, 2015 Interest is subsidized by the federal government during in-school period for subsidized loans Unsubsidized 4.66% for loans disbursed July 1, 2014-June 30, 2015 Interest begins to accrue after the first disbursement and may be paid quarterly while in school or capitalized * Rates are scheduled to change July 1, 2015; fees will change October 1, % for loans disbursed July 1, 2014 June 30, 2015 Fees* 1.073% origination fee 4.292% origination fee $75 enrollment fee Source U.S. Department of Education U.S. Department of Education Repayment To Apply Recommended Deadlines** Subsidized Loans: Begins 6 months after graduation or withdrawal from the University May be deferred for graduate study and in certain other circumstances Graduated, income-sensitive options, and income-based repayment available Unsubsidized Loans: 6 months after graduation or withdrawal from the University with the option to capitalize accrued in-school interest or to begin interest payments while in school Graduated, income-sensitive options, and income-based repayment available Up to 10 year repayment term, may be extended through consolidation up to 30 years depending on the amount borrowed File a FAFSA between January 1 and April 15, 2015 at SRFS will notify you of additional steps in the spring Begins within 60 days after final disbursement. File a FAFSA between January 1 and April 15, 2015 at SRFS will notify you of additional steps in the spring ** Deadlines are recommended in order to receive credit on your initial Fall Term bill. Applications are still accepted after these dates. None University of Pennsylvania Over 10 months beginning May 1 edu/budget-plan June 15, 2015 June 15, 2015 May 29, Note to International Students If you choose to borrow, please visit our website and read about alternative loans. Note that international borrowers generally need a U.S. citizen or permanent resident co-signer.
10 SS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 19 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D worksheet Complete this worksheet to adjust expenses, if needed, and select resources for paying your family contribution. We provided two columns so you can lay out two different scenarios. You may prefer our interactive worksheet on PennPlan online, available through the Decision Portal. 7 Cost of Attendance (COA) for the Current Academic Year Option 1 Option 2 Tuition and Fees $47,668 $47,668 Housing 8,688 Meals 4,776 Books 1,220 Personal 1,848 Travel Other + + Total Costs $ $ Less Total Financial Aid (from aid notice) $ $ Estimated Amount To Be Covered By Your Family 1. $ $ Resources Readily Available for Your Family Contribution Parents savings and assets $ $ Gifts from relatives Student s savings and assets Student s non-wage income Summer of 2015 employment Federal Direct Loan (optional) The maximum freshman amount is $5,500, provided it does not exceed the COA less any financial aid you receive Other Total Available Resources Above 2. $ $ Estimated Amounts to be Covered by Family (#1 from above) $ Subtract Total Available Resources (#2 from above) Remaining Costs To Be Covered $ $ If you have remaining costs, consider one of the payment options outlined on page 6
11 9 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS ECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION F how to apply for a state grant You are required to apply for a state grant if you are a legal resident of any state listed below. University aid is not available to replace state grants if you do not fulfill the application eligibility requirements. Application Instructions Complete the FAFSA by April 15, 2015, or earlier if required by your state Residents of Vermont must also file a state application State Agency Contact Information FAFSA Deadline (Must be received by:) State Grant Application Connecticut Department of Higher Education 61 Woodland St. Hartford, CT Delaware Higher Education Office John G. Thousand Blvd. 401 Federal St. Dover, DE The Massachusetts Board of Higher Education Office of Student Financial Assistance 454 Broadway, Suite 200 Revere, MA Ohio Board of Regents Office of State Superintendent of Education 25 South Front St., 2nd Floor Columbus, OH Pennsylvania Higher Education Assistance Agency (PHEAA): State Grant and Special Programs P.O. Box 8157 Harrisburg, PA Rhode Island Higher Education Assistance Authority: Scholarship and Grant Department 560 Jefferson Boulevard Warwick, RI Vermont Student Assistance Corporation (VSAC) Attn: Grant Program P.O. Box 2000 Winooski, VT West Virginia Higher Education Grant Program 1018 Kanawha Boulevard East, Suite 700 Charleston, WV (860) (800) (302) (617) (614) (800) (717) (401) (800) (800) (877) (304) February 15, 2015 April 15, 2015 April 15, 2015 April 15, 2015 April 15, 2015 March 1, 2015 As soon as possible after January 1, Grants are considered on a first-come, firstserve basis, pending availability of funds. April 15, 2015 N/A N/A N/A N/A N/A N/A Complete the Vermont grant application. The FAFSA confirmation page will provide a link that will take you to the myvsac registration page. N/A 8
12 ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 19 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D how to file a FAFSA (Free Application for Federal Student Aid) You must file a FAFSA to receive funds from any federal or state program, including work-study, federal grants, state grants, the Direct Loan for students and the Direct PLUS Loan for parents. File a FAFSA between January 1 and April 15, 2015 (Residents of Connecticut, Rhode Island and Vermont see page 8 for your earlier deadline) File online at or Complete and return a FAFSA paper application, available from your high school 9 Important Tip: Make sure the University of Pennsylvania, 3451 Walnut Street, Philadelphia, PA , is listed. Penn s Federal School Code is Use the IRS Data Retrieval Tool when filing a FAFSA This tool enables you to retrieve your and your parents tax information from the IRS and transfer it directly to your FAFSA. We recommend you use this tool for several reasons: It is the easiest way to provide your tax data. It s the best way to ensure accurate tax information on your FAFSA. It may avoid delays in processing your financial aid. It simplifies the federal verification process For more information, visit the FAFSA website at Review your Student Aid Report (SAR), which you will receive after you submit the FAFSA: You must review all the information on Part 2 of the SAR for accuracy, especially if you completed the application before you and your parents completed 2014 federal income tax returns. If the data is accurate, keep the SAR for your records. If corrections are needed, make them online at or on Part 2 of the paper SAR. To check the status of your FAFSA application, or request a duplicate Student Aid Report (SAR), call the Federal Student Aid Information Center at or visit Note on Social Security Numbers Student Financial Services (SFS) requires that you provide your full social security number on all financial aid applications. Your social security number enables SFS to process required interfaces with The College Board and U.S. Department of Education, thereby ensuring that your application is complete and evaluation can begin. Please note that SFS is committed to ensuring the security of your information.
13 9 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS ECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION F receiving and paying your bill Penn.Pay Penn.Pay is Penn s online billing system through which you receive your monthly student account bill. You can also review new activity on a daily basis, and opt to pay your bills online, securely and efficiently. Receiving Your Bill Notification that your student account billing statement is available will be sent to your University address, beginning with the Fall Term July statement. (In July and August, Penn will also mail a paper bill to the street address we have on record.) See the billing schedule below for details. Paying Your Bill Online: Use Penn.Pay to schedule both the payment date and amount to pay from your checking or savings account. Accounts must be with a U.S. financial institution. Online: Use Penn.Pay and pay with your American Express Card. A 2% convenience fee will be assessed and will appear on your American Express billing statement. Note that Penn does not receive any compensation or portion of the convenience fee for providing American Express as a payment option. Check: Pay from a U.S. checking or savings account. Payment coupons must accompany your payment. Use the coupon attached to the bill, or print one from Penn.Pay Wire Transfer: See the SFS website for details, or askben at In Person: Present your payment coupon and check to the University Cashier, located in the lobby of the Franklin Building, 3451 Walnut Street. Payment coupons are attached to the bottom of your billing statement. A late payment penalty of 1.5% of any past due balance will be assessed monthly. A past-due balance may result in your student account being placed on financial hold which can restrict future registration, receipt of your diploma and transcript requests. Billing Schedule E-Bill Sent Due Date Bill Type Fall Term June 30, 2015 July 29, 2015 Paper and E-bill Spring Term December 2, 2015 January 8, 2016 E-bill Monthly Bills First week of each month Last week of each month E-bill For additional information about Penn.Pay, visit the SFS website or askben at 10 Student Account Bill Presentation and Payment System
14 ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 19 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D checklist for the next steps Note: Check only those boxes that apply to you Deadlines 1. To Penn Admissions Use the Reply! link on the Penn Applicant Portal to January 5, 2015 confirm your place in the class. Send your Enrollment Deposit per instructions on the January 5, 2015 My Checklist located on your Penn Applicant Portal To Student Financial Services (SFS) Fax or document using the enclosed SFS Cover Sheet Parents 2014 Federal Tax Return & W-2 Forms February 16, 2015 Include all pages and schedules Student s 2014 Federal Tax Return & W-2 Forms February 16, 2015 Include all pages and schedules Cover Sheet and Tax I.D. Form (enclosed) Submit with tax returns. If you or your parents did not, or will not, February 16, 2015 file taxes in 2014, you must still sign and submit this form. Outside Scholarships Report all outside scholarships and grants promptly. Mail subsequent checks to the Outside Scholarship address As soon as possible 3. To Federal Student Aid Programs FAFSA: Apply online at April 15, To Outside Agencies State Grants Residents of Connecticut, Delaware, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont, and West Virginia. see page 8 SAR: Review your Student Aid Report (SAR) for accuracy June 30, Payment Options (if you choose to participate) Apply for the Federal Direct Loan (for students) June 15, 2015 Apply for the Federal Direct PLUS Loan after May 15 (for parents) June 15, 2015 Apply for the Penn Monthly Budget Plan May 29, 2015 Note: You will receive a revised financial aid notice reflecting the academic costs in April, after your and your parents 2014 federal income tax returns have been received by our office.
15 9 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY D EN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS ECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION F how to contact student financial services When contacting our office, please identify yourself as a member of the Class of Website askben Our self-service tool, askben, answers commonly asked questions 24/7 Located throughout the SFS website PennPlan online Select My PennPlan online General Questions Penn Monthly Budget Plan Submit Documents Online Fax Please include the enclosed SRFS Cover Sheet Telephone Mailing Address Mailing Address for Outside Scholarships Campus Address for Walk-in Service Appointments Student Financial Services University of Pennsylvania 005 Franklin Building 3451 Walnut Street Philadelphia, PA Outside Scholarship Office University of Pennsylvania 100 Franklin Building 3451 Walnut Street Philadelphia, PA Room 100 Franklin Building 3451 Walnut Street An Assistant Director is available during office hours Call in advance if you wish to schedule an on-campus appointment Telephone appointments are also available during office hours Office Hours Monday, Wednesday, Thursday & Friday 9:00 a.m. 5:00 p.m. Tuesday 10:00 a.m. 5:00 p.m. Winter Break Closed December 24 at 2:00 p.m. SFS will reopen Monday, January 5, 2015 at 9:00 a.m. Please check our website for updates. Should you have general questions during this time, please use our 24/7 self-service tool, askben, at 12 SFS Assistant Directors offer personalized service. Visit our website s Contact Us section for the name of your Assistant Director.
16 ASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 201 N FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHM 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARLY DECISION FRESHMEN CLASS OF 2019 EARL other contacts Penn Websites Admissions Penn Applicant Portal Campus Express Overview of key services for life at Penn Office of the University Registrar Transcripts, course offerings and descriptions, academic records PennPlan online An interactive, web-based financial planning tool 13 Penn Portal Access campus information and manage transactions Student Employment Office Student job postings and work-study information Student Financial Services Forms, general information, and askben, the SRFS 24/7 question and answer tool University of Pennsylvania Penn s website Other Useful Contacts College Board PROFILE (305) Penn PROFILE Code: 2933 FAFSA (800) Penn Federal Code: Outside Scholarship Listings FOR MORE INFORMATION Use our self-service tool askben, to answer your questions 24/7 at Front Cover Photo by Steven Minicola, University Communications
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2014-2015 MSSU FINANCIAL AID HANDBOOK INTRODUCTION Thank you for your interest in the financial aid programs at Missouri Southern State University. This handbook describes various sources of federal Title
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