Office of Student Financial Aid. Spring Open House March 28, 2015

Transcription

1 Office of Student Financial Aid Spring Open House March 28,

2 Mission: Graduation A college degree can be expensive The Office of Student Financial Aid is here to assist students and their families with: Coordinating resources to cover the expenses Planning the use of aid to cover your entire education Loan repayment advising

3 We are committed to your success Our dedicated staff is here to help Student Service Specialists Financial Aid Officers Peer Mentors

4 Visit us in the Welcome Center Walk in Call us at Make an appointment at wams.wayne.edu us at

5 FAFSA Complete a Free Application for Federal Student Aid (FAFSA) at fafsa.gov Review your Student Aid Report from the Federal Processor 5

6 Paper How we communicate One paper letter sent with list of requirements Pipeline/Academica 24 hour access to your award and requirements We will reply with an answer or resolution In person or by phone Visit us in the Welcome Center 6

7 Your award letter Important information Estimated cost of attendance Outstanding requirements Eligibility requirements Types of aid Grants Scholarships Federal Work-Study Loans 7

8 Federal aid programs Federal Pell Grant Federal Supplemental Educational Opportunity Grant (FSEOG) Federal Work Study Federal Direct Loans (Subsidized and Unsubsidized) Federal Parent PLUS Loan Federal Grad PLUS Loan

9 Academic scholarships awards Students must accept their offer of admission by May 1, 2015

10 Other WSU scholarships University Scholarship National Merit Scholar Finalists Acceptance into the Honors College Anthony Wayne Scholarship Out-of-state students, 3.2 GPA, 21 ACT Completed WSU Admission with all documents received by March 31 Great Lakes Award Reduces the non-resident tuition rate for students from Illinois, Indiana, Minnesota, New York, Ohio, Pennsylvania, Wisconsin and Ontario

11 Keeping scholarships Enroll in and complete at least 12 credits during the Fall and Winter semester Maintain a minimum GPA University: 3.5 GPA Presidential, Distinguished, Gold: 3.3 GPA Green: 3.0 GPA Maintain good standing in the Honors College

12 WSU Promise Grant Wayne State University is committed to students who are committed to graduating For students that demonstrate need, as determined by the FAFSA, and meet certain specific academic requirements This award, with other grants and scholarships, will assist with the costs of attending WSU Students who reside on campus and are eligible for Wayne Promise will also receive a housing award Limited to 4-years for a new freshman

13 Borrowing loans When you accept your loans on Pipeline/Academica, remember that there are additional steps Entrance Loan Counseling Master Promissory Notes Annual and Lifetime Limits 13

14 Federal Parent PLUS Loan Credit based Parent applies for the loan online at studentloans.gov Complete the Parent PLUS Loan Master Promissory Note Complete PLUS Loan counseling, if required 14

15 The formula Expenses Tuition Housing Parking Book Voucher Awards Scholarships Grants Loans Work-study Balance or Refund

16 Expenses $6000 Tuition $5000 Housing The formula Awards $4000 Scholarship $2000 Pell Balance $5000 Expenses $6000 Tuition $280 Parking Awards $5000 Scholarship $2000 Pell Refund $720

17 Budget your loan eligibility Federal Direct Loan annual limits $5,500 for 1st Year $2750 fall, $2750 winter Federal Direct Loan lifetime limits $31,000 Federal Direct Subsidized Loan 12 semesters of full-time enrollment

18 Budgeting aid to graduation Federal Pell Grant limit 1 st year 2 nd year 3 rd year 4 th year 5 th year 6 th year 7 th year 100% Pell 100% Pell 100% Pell 100% Pell 100% Pell 100% Pell ZERO Pell Federal Subsidized Loan limit & penalty 1 st year 2 nd year 3 rd year 4 th year 5 th year 6 th year 7 th year Loan Loan Loan Loan Loan Loan If you haven t graduated, all loans lose the subsidy

19 Our goal is your graduation

20 Proactive outreach S SAP M Money A Academic Record R Repay Complete your degree in 6 years or less Reduce the cost of your degree Minimize the amount of loan debt T Time to Degree

21 Apply for aid Smart tips FAFSA and private scholarship applications Plan ahead Don t pay for free money Follow up with requests from the Financial Aid Office Check your WSU address Pipeline/Academica Pay attention to deadlines

22 Admitted Next steps Register for orientation Check Pipeline/Academica regularly Prospective Apply for Admission by December 1, 2015 More information at wayne.edu/financial-aid Details on types of aid Key Dates and Deadlines Scholarship options

23 Contact us at the Call us Make an appointment Student Service Center wams.wayne.edu Visit our website at wayne.edu/financial-aid us Check Pipeline/Academica for the status of your awards

24 Questions 24