Financial Aid Southern Illinois University Carbondale
An overview for SIUC students 2010-2011
www.siuc.edu/~fao
Cost to attend Southern Southern is affordable and has been a national leader in containing higher education costs. The annual expenses below reflect actual costs for a full time undergraduate student enrolling at SIUC for fall 2009 and spring 2010 semesters Tuition and Fees* $10,411 On Campus Room and Board $8,082 Books and Supplies $900 Total $19,393 *Out-of-state students should add $10935 for additional tuition.
How do I apply for Financial Aid? • Eligibility is determined by filling out the Free Application for Federal Student Aid (FAFSA). To apply via electronic means, both the student and a parent of a dependent student should request a Personal Identification Number (PIN) at the U.S. Department of Education website: www.pin.ed.gov. The PIN becomes your electronic signature. The FAFSA can be found online at the U.S. Department of Education www.fafsa.ed.gov. • A FAFSA application must be completed each year.
• The FAFSA can be completed after January 1, 2010. For priority consideration, Southern’s deadline is April 1, 2010. The Southern Illinois University Carbondale school code is 001758 and should be listed as your school of choice. It is recommended that students and parents have their 2008 tax returns completed before filing the FAFSA. • It is important that the parent and student keep copies of all financial aid documents. • A federal customer service telephone helpline is available at 800 | 433.3243 or 319 | 337.5665.
Sources of Financial Aid
Eligibility for the following grant programs is based on the Expected Family Contribution that is calculated by filing the FAFSA. Federal Grants • Pell Grant • Supplemental Educational Opportunity Grant (SEOG) • Academic Competitiveness grant (ACG) • National Science and Mathematics Access to Retain Talent (SMART) grant State Grants (fro qualifying Illinois residents only) • State of Illinois Monetary Award Program (MAP) • Silas Purnell Illinois Incentive for Access (IIA) • Student-to Student (STS) The SIUC Need-based Grant is an award made from funds provided by the University. The grant is designed to assist families who have need but, whose need is not met by federal and state need-based grants.
How is Financial Need calculated?
How do I accept my Financial Aid Award?
Need-based financial aid eligibility is determined from information submitted on the FAFSA. An expected family contribution (EFC) is calculated based on income, net worth, family size, the number of family members attending post secondary education, and other factors. The student’s cost of attendance, minus the EFC, determines financial need.
You will receive an e-mail when your award offer is ready. To review and complete your award offer, simply follow the steps provided.
Cost of attendance (educational expenses) - Expected Family Contribution = Financial Need
Student Employment
Loans
• The FAFSA determines whether wages are paid from the need-based Federal Work Study program or institutional funds.
Federal loans allow students or their parents to borrow money at lower rates. Borrowers are required to sign a binding legal document, called a master promissory note. The promissory note lists the terms of the loan, including information about repayment, deferment and cancellation provisions.
• Student are usually paid the minimum wage and work up to 20 hours a week. Jobs are posted on the FAO website: www.siuc.edu/~fao/jobs. • To seek employment, students must obtain a Student Employment Referral on the web at: salukinet.siu.edu. • Student employment paychecks are issued bi-weekly and can be electronically deposited into the student’s personal account at a designated banking institution.
There are four major loan Programs: • The Ford Federal Direct Subsidized Stafford Loan is awarded to students who demonstrate financial need. • The Ford federal Direct Unsubsidized Stafford Loan is awarded to students who do not demonstrate financial need. • The Federal Direct Parent Loan for Undergraduate Students (PLUS) is available to parents of dependent students. Parents can borrow up to the difference between the cost of attendance and the financial and awarded the student. This loan is not based on financial need. A credit check is required. • The Federal Perkins Loan is based on financial need and is usually given to students who apply early for financial aid. Southern also processes Alternative Loans for students whom traditional loan programs do not meet the full need. Loan fees, interest rates and repayment provisions vary. For more information visit our website at www.siu.edu/~fao/loans/altloans.htm
Departmental Scholarships
Application Checklist for Financial Aid
Many academic scholarships at Southern are awarded by individual departments within the University. The scholarship database lists many of the Departmental scholarships. You should review the criteria for scholarships. If it appears that you meet the criteria by which the scholarship is awarded, contact the department to obtain application information. You can explore the database at: www.fao.siu.edu/scholarships/sch_search.php
• Beginning September 2009, apply for admission to SIUC.
Other scholarship Opportunities Students interested in seeking a private grant or scholarship should check as many sources as possible, including high school guidance offices, local clubs and civic organizations, businesses, employers, church groups, alumni organizations, public libraries and financial institutions. Access free scholarship information by visiting the links below. www.fastweb.com www.collegezone.com
What if your family’s financial situation changes? We want to hear from you if there are changes in your family’s financial situation after you have completed the FAFSA. We may be able to reevaluate your need. Such changes include, but are not limited to: • Loss of employment • Death or disability of a family wage earner • Divorce or separation • Substantial reduction of current year income • Loss of non-taxable income, etc.
• Prospective Scholarship Students: Apply for early admission and have your highest test score and class rank on file with Admission. • Submit the Free Application for Federal Student Aid (FAFSA) for priority consideration by April 1. File the FAFSA on the web at www.fafsa.ed.gov. Be sure to indicate SIUC code #001758 on the FAFSA. • Verification: Many applicants will need to submit tax forms and W-2’s as part of verification. This process is required by federal regulation. • Financial Award Notification: Freshman and transfer students will be notified via e-mail. • If accepting student loans, complete Entrance Counseling as www.dlssonline.com and a Master Promissory Note at www.dlenote.ed.gov.
Other Helpful Hints
• Read all directions carefully before completing any financial aid forms and applications. • Round off figures to the nearest dollar. • Always keep signed copies of tax returns and your W-2 forms used to complete the FAFSA. • If verification materials are requested, respond promptly so that you can receive full consideration for all programs. • Keep copies of all application materials and related documents that you submit during the financial aid process. PLEASE NOTE: If you are an international student, the information in this publication does not apply to you. Please contact the Office of International Programs and Services at 618 | 536.7771
Financial Aid Program Contacts U.S. Department of Education www.studentaid.ed.gov 800 | 433.3243 Direct Loan www.dl.ed.gov/www.dlenote.ed.gov 800 | 848-0979
Illinois Student Assistance Commission (ISAC) www.collegezone.com 800 | 899.ISAC Internal Revenue Service (Request Tax Account Information) www.irs.gov 800 | 829-1040
Financial Aid Office www.siuc.edu/~fao 900 South Normal Ave. Woody Hall-B Wing, 3rd Floor, Mail Code 4702 Southern Illinois University Carbondale Carbondale, IL 62901 Phone: . ...................... 618 | 453.4334 Fax: ............................. 618 | 453.7305 Other SIUC numbers Bursar.......................... 618 | 453.2221 Graduate School...... 618 | 536.7791 Housing....................... 618 | 453.2301 Records and Registration ...................................... 618 | 453.2993 Undergraduate Admissions ...................................... 618 | 536.4405