Lions Day Funding Your Education

Transcription

1 Lions Day Funding Your Education

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3 Federal Pell Grant Federal grant available to undergraduate students enrolled in accredited post secondary institutions. Pell Grant Lifetime Eligibility is 6 years (i.e. 12 payments) Need based Award amounts are pro rated if part time (Fall 2017 Spring 2018) minimum/maximum $606 $5920

4 New Jersey Tuition Aid Grant TAG Demonstrate Financial Need Be a U.S. citizen or eligible non citizen Must be New Jersey Resident & attend a New Jersey Institution Must be full time at an approved degree program Meet all state deadlines Award amounts may different depending on the type of institution due the institution s cost of attendance List NJ institution first on the FASFA so NJ HESAA can evaluate your eligibility minimum/maximum: $2680 $ allocations are announced in May June

5 Educational Opportunity Fund EOF State grant program available to NJ students from educationally and economically disadvantaged backgrounds. Students must demonstrate financial need and a background of historical poverty. Must indicate EOF on the TCNJ Admissions Application for consideration. TCNJ $1150 (commuter) and $1400 (on campus)

6 Federal Direct Stafford Loan Limits Student Status Subsidized Stafford Loan Unsubsidized Stafford Loan Total Stafford Loan Eligibility (year) First Year 3,500 2,000 5,500 Second Year 4,500 2,000 6,500 Third & Fourth Year Dependent Students 5,500 2,000 7,500 *Independent Students receive $6,000 Federal Unsubsidized Stafford Loans* Award Year Interest Rates and Fees Federal Direct Undergraduate Direct Loans interest rate is 3.76% plus a 1.069% origination fee, for subsidized and unsubsidized loans.

7 Federal Work Study (FWS) Eligible undergraduate students Need based based on FAFSA To be considered students must select Yes on to the FAFSA question, Are you interested in work study Employment may be on or off campus Schools must use portion of FWS funds for community service employment activities $1, FWS award amounts may change due to federal funding.

8 Online Private Scholarship Reporting Tool You are required to report all private scholarships that you will receive for the school year. Priority Reporting Deadline: June TCNJ will give you a temporary credit on your TCNJ bill until the scholarship money arrives. Once reported allow 5 to 7 business days for scholarship to appear on your PAWS account Actual scholarship funds must be received one month after classes start! Private Scholarships should be sent to: TCNJ Student Accounts PO Box 7718 Ewing, NJ *Students name and ID should be listed on the check.

9 Private Scholarship Search FinAid.org The College Board FastWeb.com GoCollege.com: The Collegiate Websource TCNJ FINANCIAL AID WEBSITE

10 Filling the GAP Alternatives Financial Aid Federal Parent Loan for Undergraduate Students (PLUS) Private/Alternative Loans (i.e. credit based) some examples are: NJ Higher Education Student Assistance Authority NJ Class Loan Bank Student Loans Credit Unions * Elm Select online private loan comparison tool on our website* Student Accounts Installment Payment Plan Cash Checks ACH payments Credit Card

11 Free Application for Federal Student Aid (FAFSA) new FAFSA available October 1, 2016 at *Apply in October of your high school senior year FAFSA will use prior prior year income information FAFSA you will use 2015 income to file the FASFA IRS Date Retrieval Tool can be used immediately All prior prior year tax information (2015) is already filed, allowing immediate retrieval. Note: FAFSA is linked to your SSN on the Admissions Application

12 What is a Federal Student Aid (FSA) ID? In order to enhance security, FAFSA has replaced the PIN number with the FSA ID as your electronic signature to sign the FAFSA. If you already have a PIN, you can link your information to your new FSA ID by entering your PIN while registering for your FSA ID PIN number is not necessary to create a FSA ID If you are a parent of a dependent student, you will need your own FSA ID

13 Click to Apply for State Aid New Jersey Tuition Aid Grant

14 Federal Notification Student Aid Report (SAR) Important message to students and parents... Read! Read! Read! Received via address or mail After the SAR is received, families may make corrections and updates, such as adding a college, and should be encouraged to use the FAFSA on the Web (FOTW) correction process Certain revisions may be made by financial aid officers (i.e., dependency status overrides and corrections resulting from verification) 14

15 TCNJ MERIT SCHOLARSHIPS *Merit Scholarships are administered by the Office of Admissions* In State Applicants First year in state applicants to TCNJ are automatically considered for merit scholarships upon submission of the Common Application. These awards are based on a student s overall academic record (strength of curriculum, GPA, class rank, and strength of high school). While there are no minimum criteria to be eligible for a scholarship, competitive applicants should have at least a 1300 SAT (Math and Critical Reading) or 29 ACT Awards range from $1,000 to $6,000 per year. Scholarships are distributed at the time of acceptance by TCNJ and are renewable for 8 consecutive semesters, provided the student maintains full time enrollment and a minimum cumulative GPA of 3.0. Out of State Applicants Students interested in out of state merit scholarships to submit their Common Application by December 1 st (Priority Status). At the time of acceptance, Out of State Students are mailed a one page application for scholarship consideration. Over the past three years, over 80% of admitted out of state high school students have qualified for a merit scholarship, which range from $3,000 to $11,000 per year for all four years of study.

16 TCNJ Lion s Pride Need Based Scholarships These institutional grants will be awarded to merit scholarship recipients who demonstrate financial need. Students must submit the FAFSA by February 15 th to be eligible for a Lion s Pride Need Based Scholarship. The Office of Student Financial Assistance will work with the Office of Admissions to review FAFSA data before awarding Lion s Pride Need Based Scholarships in late March. Award amounts will be based on available institutional funds and the number of qualified candidates who successfully submit the FAFSA. Lion s Pride awards are designed to supplement a student s current merit scholarship, and the total scholarship amount between the two award types will not exceed $11,000 per year. Note: Students must receive an TCNJ Merit Scholarship to receive a TCNJ Need Scholarship

17 TCNJ Cost of Attendance *The ID Fee is only charged during the Fall semester. * Tuition and Fees are announced in July 2017 by the TCNJ Board of Trustees*

18 The TCNJ Financial Aid Cycle October Complete the CSS Profile to be considered for TCNJ need based scholarships (*fee). February Deadline Complete the FAFSA for current high school seniors Jan March March Apply for private scholarships. Respond to requests for additional information from NJ Higher Education Student Assistance Authority (NJ HESAA) Estimated Financial Aid award letters are mailed to accepted TCNJ students who have filed the Free Application for Federal Student Aid (FAFSA). * List your SSN on the Common Application* May TCNJ Admissions Acceptance Deposits due $600 (May 1 st ) July August Fall semester bills are ed to students and Auxiliary Users (if applicable) by the Office of Student Accounts Fall semester bills are due

19 Accepted Students!! TCNJ Class of 2021 All accepted students who have filed the FAFSA and listed their SSN number on the Common Application will receive an in March 2017 to view their estimated award in the student online portal.

20 Congratulations Accepted Students!! TCNJ Class of 2021 Accepted students can use the estimated award, TCNJ Financial Aid Award Brochure and Planning Worksheet to establish the Gap needed to meet the Direct Costs (tuition, fees and room/board if living on campus.

21 The Office of Student Financial Assistance Green Hall Room 101 Academic Year Office Hours Monday through Friday 8:30am to 4:30pm Financial Assistance