Paying for College Office of Student Financial Aid and Office of the Bursar
Remember: MONEY M – Money Sources • FAFSA (Free Application for Federal Student Aid) • Grants/Scholarships/Loans/Student Employment • Military/Tuition Waivers/College Savings Plans/Personal Savings .
O – Offer from the University
.
N – Need • Cost - Aid = Need •
.
E – Employment .
Y – Your Next Steps • Finalize loans (student and parent) • Check out the bill Financial Aid
What MONEY is available? Grants Scholarships Student Employment Loans Other Military Tuition Waivers College Savings Plans, etc.
Payment Plan Financial Aid
FINANCIAL AID - FAFSA True or False: Why should I apply for the FAFSA, I won't get anything anyway!
True = A False = B
Financial Aid
B
FAFSA
Free Application for Federal Student Aid studentaid.gov myStudentAid app
Guarantees student loan eligibility Determines need-based aid eligibility, which could be free money Financial Aid
Where is my OFFER? A. In the mail B. My parent/guardian has it C. On my CougarNet account D. All of the above
Financial Aid
OFFER LETTER Summary of aid offered
C
Based on cost of attendance, the FAFSA results and available aid CougarNet Financial Aid > Award > Award for Aid Year > 2022-2023 > Accept Award Offer Accept award yearly Confirm your financial aid Financial Aid
Verification or Aid Offer? Verification
Aid Offer
Federal government randomly selects a percentage of students to ensure the information on the FAFSA is correct. SIUE will notify you if you have been selected. CougarNet May need to submit documentation to verify (tax documents, W2s, institutional forms, etc.) Verification must be completed before an aid offer will be issued.
Listing of all the different types of aid for which the student is eligible. Includes:
Financial Aid
Grants Scholarships Work Study Subsidized Loans Unsubsidized Loans
Based on Cost of Attendance
Do I NEED more money?
A. Yes B. No C. Ask my parent/guardian D. I’m so confused!
Financial Aid
COST
siue.edu/paying-for-college/estimator
Estimate your: Tuition and fees Housing Meal plan Parking pass Don’t forget: Supplies Transportation costs Miscellaneous expenses
Description Tuition (15 hrs/semester) and Fees * Room and Board
Expense $12,558 $10,271
Supplies Transportation Personal Expenses
$933 $1,420 $1,554
Loan Fees Total
$82 $26,818
* Includes textbook rental fees
Financial Aid
COST – AID = NEED Budget Worksheet
1. Do you have any of these? a) Grants (state, federal, institution) b) Scholarships (institution and/or private) • Send to Financial Aid – will be applied once the money is received
2. What is your leftover cost once you subtract grants and scholarships? 3. Will you use your offered student loans? 4. Do you still need more funding? Financial Aid
EMPLOYMENT Student employment is available for all students. Some students will qualify for the Federal Work Study program, which has benefits when you file a FAFSA. Jobs are available mid-July for the upcoming Fall term. Students earn a paycheck. Student Job Finder siue.edu/student-employment/student-jo b-finder/ Financial Aid
YOUR NEXT STEPS 1. Accept the aid you wish to use on your CougarNet account (See CougarNet handout). 2. If using student loans (subsidized and/or unsubsidized): Be enrolled in at least 6 credit hours per term Complete Entrance Counseling Studentaid.gov Sign Master Promissory Note 3. If additional aid is needed, here are some additional options: Parent PLUS Loans – apply at studentaid.gov Alternative Loans – private loans through borrower’s choice of lender are available to both students and parents/guardians. Financial Aid
TIPS Maintain cumulative GPA of 2.00 and complete at least 67% of coursework Know your institutional scholarship renewal criteria Monitor your CougarNet Account Adding or dropping a class can impact your financial aid Complete FAFSA each year, October 1
Financial Aid
What do you think financial clearance means? a. Someone paid my bill. b. My financial aid is complete. c. I am officially enrolled, my classes are safe, and I can access a variety of facilities on campus for the term. d. All of the above Bursar’s Office
C
Financial Clearance Is not connected to your: balance owed financial aid status
Check clearance on CougarNet or SIUE app (keep notification on) Ø Not Cleared - need to make payment to save your enrollment Cleared - classes are locked in access to campus facilities meal plan activated Bursar's Office
When is the first payment due to avoid classes being dropped?
a. July 13, 2022 b. August 12, 2022 c. August 22, 2022 d. September 2, 2022
Bursar’s Office
1st Payment Due eBill – bill notice emailed - July 13, 2022
B
View – CougarNet, SIUE app and Pay My Bill At a Glance section summarizes: Charges Pending aid Amount to pay in full Installment amount: four due dates/$30 a semester Anticipated refund First Installment Due: 4:30 p.m., August 12, 2022 – Cleared – Saves your registration Bursar's Office
Why do we need your social security number?
a. Claim your education credit on your taxes b. Issuing refund checks c. Creating an SIUE bill d. All of the above
Bursar’s Office
Social Security Number
Receive education credit - 1098T
A
Provide once - CougarNet Update your phone and address Pay My Bill and CougarNet to access tax documents Bursar's Office
How often do you need to read and accept the Student Financial Agreement?
a. Only once b. Two times a year c. Once a semester (Spring, Summer, Fall d. Every month
Bursar’s Office
B
Financial Agreement Accept every fall and spring semester You, the student, are agreeing to pay the charges posted to your account Check your bill often – eliminate surprises
Bursar's Office
Who authorizes additional third-party members?
a. This is not an option b. Parents/Guardians c. Anyone d. The student
Bursar’s Office
Authorizing FERPA Students own record
D
CougarNet Authorization to Release Information Phone and email – password Other offices Pay My Bill – online third-party access Make payments (e-check or credit/debit card) Bill (email notices) 1098 T
Bursar's Office
Why should students sign up for direct deposit?
a. Drop a class b. Excess Financial Aid c. Late scholarship received d. All of the above
Bursar’s Office
D
Direct Deposit Sign up on CougarNet Anticipated refund released Friday before semester starts Fall 22: Friday, August 19, 2022 Twice a week after that Check issued once a month Add/drop classes September 2, 2022 – last day for changes
Bursar's Office
Remember the BURSAR B – Billing (Download the SIUE App) .
U – Update Personal Information on CougarNet
.
R – Read and Accept Student Financial Agreement on CougarNet
.
S – Social Security Number for 1098-T (on CougarNet)
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A – Authorization for Third-Party Contact • By phone or email (on CougarNet) • Online account for bill pay (on Pay My Bill)
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R – Refunds (set up direct deposit on CougarNet) Bursar's Office
IMPORTANT DATES Installment Plan Paying first installment secures course registration
Don’t get behind, meet the deadline!
Friday, Aug. 12
Confirm first installment is paid by 4:30 p.m. CST
Monday, Aug. 22
First day of classes, fall 2022 term
Friday, Sept. 2
Last day to drop 16-week fall classes for a full refund
Friday, Sept. 30
Second installment payment deadline
Friday, Oct. 21
Third installment payment deadline
Friday, Nov. 11
Fourth installment payment deadline
Friday, Dec. 9
Confirm first installment for spring 2023 is paid by 4:30 p.m. CST
Dec. 12-16
Final examinations
Saturday, Dec. 17
Textbook return due by 5 p.m. CST
CONTACT US
Office of Student Financial Aid 2308 Rendleman Hall 618-650-3880 finaid@siue.edu
Office of the Bursar 1101 Rendleman Hall 618-650-3123 bursar@siue.edu
Student Employment 2221 Rendleman Hall 618-650-2563 stuemp@siue.edu
Offices are open Monday-Friday, 8 a.m.-4:30 p.m. Virtual advising is available Emails – include your full name and student ID number