FUNDING YOUR STUDENT’S EDUCATION Office of Student Financial Aid & Student Accounts Office
TEXT YOUR FINANCE QUESTIONS TO US!
1. Text MasonFamily (all one word) to 22333 to join the thread.
To: 22333 Message:
MasonFamily
2. Text your finance questions related to financial aid and student accounts at Mason. GEORGE MASON UNIVERSITY
IMPORTANT INFORMATION • You must reapply each year for financial aid. • January 15th is our FAFSA Priority Deadline. • Email is our primary means of communication. ***Per Federal Regulations, we can only email the student directly regarding financial aid updates or requests.
GEORGE MASON UNIVERSITY
REVIEWING YOUR AID OFFER You may see 3 different types of aid on your student’s award letter including: • Gift-Aid (Grants/Scholarships) • Self-Help Aid (Loans) • Federal Work-Study
GEORGE MASON UNIVERSITY
GIFT-AID • Free money – students do not pay back grants or scholarships. • Awards granted from federal and state governments, the college or university, or outside organizations. •
For a list of outside scholarships, visit: www2.gmu.edu/admissions-aid/financial-aid/typesaid/scholarships/outside-scholarship-list
GEORGE MASON UNIVERSITY
SELF-HELP (LOANS) Federal Direct Subsidized and Unsubsidized Loans - Loans awarded through your FAFSA. Parent PLUS Loan - Parents can apply for this loan after July 1 for dependent students. Private Student Loans - Loans taken through private lenders such as banks or credit unions. Student and a cosigner (if needed) can apply after July 1. For more information, visit: studentaid.ed.gov GEORGE MASON UNIVERSITY
FEDERAL WORK-STUDY • Part-time employment opportunity for students • Biweekly paycheck • Earned income does not apply to student’s bill
GEORGE MASON UNIVERSITY
NEXT STEPS • If all of the requirements have been satisfied, your financial aid (finish verification, complete the award acceptance process) will be applied as a pending credit to your student’s account in July. • At that point, you can determine if you need additional funding, such as the Parent PLUS loan or an Alternative Private loan, to assist with any remaining balance. •
Apply for these after July 1, 2019 for the upcoming academic year. GEORGE MASON UNIVERSITY
TEXT YOUR FINANCE QUESTIONS TO US!
1.Text MasonFamily (all one word) to 22333 to join the thread.
To: 22333 Message:
MasonFamily
2.Text your finance questions related to financial aid and student accounts at Mason. GEORGE MASON UNIVERSITY
STUDENT ACCOUNTS What is the function of the Student Accounts Office? • Billing for Tuition, Fees, Housing and Meal Plans • Third Party Billing (529 Plans, VA, Employers, etc.) • Process refunds based off of charges and aid received GEORGE MASON UNIVERSITY
STUDENT ACCOUNTS
GEORGE MASON UNIVERSITY
METHODS OF PAYMENT • Financial Aid (Incoming) • Payment Plans (Installment Plans) • In Person (Cash or Check) • Online on PatriotWeb • Visa, MasterCard, Discover, American Express • Electronic Check (Preferred Method)
GEORGE MASON UNIVERSITY
AUTHORIZED USERS • Students should set up their parents/family members as authorized users in the Bill and Payment System. • Authorized users will receive e-bill notices and be able to access student accounts, but are not able to view academic information. For setup instructions, visit: studentaccounts.gmu.edu/wpcontent/uploads/AuthorizedUserSetup.pdf GEORGE MASON UNIVERSITY
PAYMENT PLANS • Mason payment plans are available online only. We offer a 2, 3, or 4 payment installment plan for the Fall and Spring semesters. A 2-payment installment plan is offered in the Summer. • The preferred payment method is the online/electronic check option, which does not charge a convenience fee. • All payment plans require a $25 contract fee, which is nonrefundable. • Visit studentaccounts.gmu.edu for deadline information and payment plan setup guides. • Note: Credit card payments are available online only and require a 2.85% convenience fee. GEORGE MASON UNIVERSITY
BILL & PAYMENT SYSTEM
GEORGE MASON UNIVERSITY
RECEIVING A REFUND • Direct Deposit (preferred and fastest) o Requires that you sign up and provide a blank check and checking account information.
• Bank Check o This is the default method used if you do not sign up for direct deposit.
GEORGE MASON UNIVERSITY
WITHDRAWING FROM CLASSES • Tuition Liability – Semester Calendar o Add/Drop Period o Important Dates
• Appeal Process – Full withdrawal during the semester o Who/What/When/Where/Why and How?
GEORGE MASON UNIVERSITY
FERPA (CONSENT TO RELEASE) • Students need to complete a FERPA form to allow the Office of Student Financial Aid or the Student Accounts Office to discuss their aid or billing information with their parents, guardians, or other individuals. • Students can complete and submit the form online. registrar.gmu.edu/forms • The best way for families to stay involved and informed about their student’s progress is to communicate directly with the student.
GEORGE MASON UNIVERSITY
OFFICE INFORMATION Office of Student Financial Aid • Hours: 9 a.m.-5 p.m. (Monday-Friday) • financialaid.gmu.edu • Email: finaid@gmu.edu • Pages 38-39 in your Orientation Guide Student Accounts Office • Hours: 9 a.m.-5 p.m. (Monday-Friday) • studentaccounts.gmu.edu • Email: student_accounts@gmu.edu • Page 40 in your Orientation Guide GEORGE MASON UNIVERSITY
AFTER THIS PRESENTATION, I HAVE A BETTER UNDERSTANDING OF THE FINANCIAL AID, BILLING, AND PAYMENT PROCEDURES AT MASON. A.
Strongly agree
To: 37607 Message: [Letter]
B.
Agree
C.
Neutral
D.
Disagree
E.
Strongly disagree GEORGE MASON UNIVERSITY