Welcome to East Carolina University Office of Student Financial Aid

Transcription

1 Welcome to East Carolina University Office of Student Financial Aid

2 Office of Student Financial Aid Goal Our primary goal is to assist students in paying for their education and is achieved by: Evaluating the family s ability to pay for educational costs Distributing resources in an equitable and consistent manner Assisting students/families in situations where special circumstances may affect their ability to pay

3 Eligibility Requirements for Financial Aid The student must be. Enrolled or accepted for enrollment Enrolled in at least 6 hours of classes Pursuing a degree or teacher certificate A U.S. citizen or eligible non citizen Registered with the Selective Service (if you are a male aged 18 25)

4 Eligibility Requirements cont Must have a valid Social Security Number May not be in default on a Federal student loan May not owe repayment of a Federal grant Must make Satisfactory Academic Progress (SAP) as defined by the University

5 Application Process The student and parent must obtain a Federal Student Aid PIN at Complete the Free Application for Federal Student Aid (FAFSA) on the web at as soon after January 1 st as possible. When the Central Processing System receives your FAFSA, your data will go through a calculation to determine your Expected Family Contribution (EFC).

6 IMPORTANT If you complete the FAFSA online AND provide an address, you will receive the results of your FAFSA which is called a Student Aid Report (SAR) via . Make sure to use a valid address and check that account regularly. To check the processing of your FAFSA: Go to or Call

7 What Happens Next? The schools that you list on the FAFSA will electronically receive your data. Be sure to use ECU s Federal Student Code so that we will receive your processed information. Review the data on Student Aid Report for accuracy. Keep the report for your records. If you detect any errors, please make corrections on the web and submit to the CPS.

8 Common Mistakes Missing Parent Signature on FAFSA Taxes and adjusted gross income are the same on the FAFSA Taxes paid information is incorrect Wrong filing status Not checking the status of the FAFSA regularly

9 Verification Process You may be selected for the verification process by the US Department of Education CPS. The process of verification requires schools to verify the data provided on the FAFSA. The Office of Financial Aid will request copies of taxes, W 2 forms, etc Processing of the application will not continue until these documents are submitted.

10 Are you Independent? 24 Married Active Military Veteran Dependent Children Emancipated Minor/Legal Guardianship Homeless/Unaccompanied Minor

11 Cost of Attendance Each school develops a Cost of Attendance for the different types of students. Cost of attendance may also be called Student Budget. It is an estimate of what the student will spend to attend school for an academic period. The Cost of Attendance or Budget represents the maximum amount of aid a student may receive from any source.

12 Sources of Aid Federal Pell Grant Federal Supplemental Educational Opportunity Grant Federal Work Study Federal Perkins Loan Federal Direct Stafford Loans Federal Direct Parent Loan NC Student Incentive Grant UNC Grant NC Educational Lottery Scholarship ECU Grant Institutional Scholarships

13 Scholarships Scholarships for incoming freshmen are determined by the Office of Undergraduate Admissions December 1, 2010 is the application deadline for these scholarships Continuing student scholarships are awarded by the various academic departments

14 Important Tips Students MUST complete the FAFSA every year!!! If you are a NC resident, we recommend you complete the FAFSA by February 15 th to have priority consideration for state grants ECU s priority deadline is April 15 th Students must maintain Satisfactory Academic Progress (SAP) to remain eligible for student financial aid

15 Awarding Process A student s financial aid award package is determined according to the student s financial need, grade level, merit, residency and other factors. If a student is eligible for grants, they will be included in the award package ECU financial aid awards generally include the Federal Direct Stafford Loans Federal Direct Parent Loans are not included in the package and must be requested separately

16 Student Award Letter When the award package has been completed, an award notice will be sent to the student s ECU address. The initial award letter will also be mailed to the student s permanent home address Students should log into their One Stop account and review the award notice and requirements they may need to complete

17 Financial Aid Resources ECU Office of Financial Aid CFNC US Department of Education Student Loans FASTWEB

18 Office of Student Financial Aid School Code Old Cafeteria Complex Second Floor Office Hours Monday Friday 8:00 5:00 Phone: Fax: