I love it, too. I wonder what it costs and can we afford it? Maybe we should have started saving sooner.
WOW! I love this school. This is where I want to go! OK?
Me, too Me, too!
1
Financial Aid: Paying for College Elizabeth L. Caldieraro Financial Aid Advisor Office of Student Financial Aid
Financial Aid: Who actually understands this stuff?
Scholarships, Federal and State Financial Aid Outside/Private Scholarships Grants ˗
Federal and State funds that do not need to be repaid
Student Employment ˗
Earn money while working on campus
Student/Parent Loans ˗
Low interest loans that must be repaid
Outside/Private Scholarships
Check with your employer, private organizations, etc. Use free scholarship search services fastweb.com isac.org siue.edu/financialaid
Do not pay for scholarship searches Watch out for scholarship scams!
How to Apply for Federal and State Aid
Obtain a FSA ID for student (and parent, if applicable)
Apply as early as possible!
The FAFSA is available January 1.
Complete the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov
File by February 1 (preferred) to ensure your file is complete by the first tuition payment due date
Our website, siue.edu/financialaid, has links to all of these processes
FAFSA fafsa.ed.gov 2015-2016 1. 2. 3. 4.
Complete your FAFSA FAFSA is processed by government FAFSA is received by University Award letter or verification?
After We Receive Your FAFSA You may be selected for verification, a Federal process required for at least 30% of all applications.
We gather tax forms (W-2’s, etc.) and verify the information on your application. If you are not selected for verification, or after your file has been verified, you will have an Award Letter on CougarNet.
CougarNet Web access to your personal records!
Check the status of your application for admission
View financial aid documents requested/received (Verification)
View and print Award Letter
Check on your financial aid awards (scholarships, etc)
View your bill
Check on the availability of classes
Update your local, billing and email addresses
Access CougarNet at siue.edu/cougarnet
I have my Award Letter, now what?
Your Award Letter on CougarNet: Cost of Attendance/Budget EFC ( Expected Family Contribution Number) Types of Aid
Student’s Cost of Attendance/Budget does not equal actual costs: Tuition and Fees Room and Board Personal Expenses Books and Supplies Transportation
What is an EFC? The Expected Family Contribution number, or EFC, is the result of the FAFSA. It is used to determine how much, if any, need-based/gift aid a student can receive.
EFC’s can range from 0–99,999
Examples of Need-Based Aid
Grants (Pell, MAP, SEOG, etc) Federal Student Employment Scholarships Subsidized Loan
Types of Loans Loans are considered to be financial aid, and ALL loans must be repaid. Federal Direct Loans – subsidized and unsubsidized
Federal Direct PLUS Loans (Parent) Alternative Loans – private lenders
Prestigious SIUE Scholarships • • • • •
Meridian Scholarship Cougar Pride Scholarship Johnetta Haley Scholarship Phi Theta Kappa Scholarship Foundation Scholarships
For more information on scholarships, visit: siue.edu/financialaid
Paying for College Fall 2015 semester direct costs: Illinois resident or live in Ark., Iowa, Ind., Ky., Mo.,Tenn. or Wis. 15 credit hours Includes textbook rental fees
Description
Cost
Tuition and Fees
$5,123.25
Shared room in residence hall Activity Fee
$2,880.00
Meal Plan A
$1,630.00
Total Direct Cost: Total, 2 Semesters: Based on information available at siue.edu/apply/tuition
$15.50
$9,648.75 $19,297.50
Paying for College Fall 2015 semester direct costs: Out-of-state resident 15 credit hours Includes textbook rental fees
Description
Cost
Tuition and Fees
$10,869.75
Shared room in residence hall Activity Fee
$2,880.00
Meal Plan A
$1,630.00
Total Direct Cost: Total, 2 semesters: Based on information found at siue.edu/apply/tuition
$15.50
$15,395.25 $30,790.50
Other Indirect Costs To Consider:
Supplies Transportation Misc./Personal Total Cost (per academic year)
$840 $1,458 $1,399 $3,697
Student Employment
Regular Student Employment (RSE) Federal Work Study (FWS) Work maximum (20 hours per week) Earn minimum wage ($8.25)
Visit siue.edu/studentemployment to learn more about student employment and see current openings. All Jobs are listed under the link “Student Job Finder.”
Installment Payment Plan
The first bill will be available on CougarNet in July 2016
$20 fee for the plan 4 payments of approximately $2,412 Due Aug., Sept., Oct. and Nov. (dates announced later)
Due date of first payment: early August 2016
For an in-state student, living on campus, enrolled in 15 hours, the amount due will be approximately $9,648.75 (for one semester)
Billing amounts based on 2015-2016 charges.
Installment Payment Plan
Pay by eCheck, check, cash, MasterCard or Discover. If paying with credit card, you can pay online at siue.edu/BURSAR
Privacy of our Students We are dedicated to the protection of our students’ privacy and identity; therefore, only certain information can be obtained from our office or the Office of the Bursar without the student being present and presenting a picture ID. No information will be given without the student’s identification number.
Important Dates
December 1 ˗ Admission deadline for institutional scholarships ˗ Application deadline for SIUE premier scholarships January 1 ˗ File the FAFSA at fafsa.ed.gov May 1 ˗ Declare intent to attend June 2016 ˗ Attend Springboard for Success for incoming freshmen August 2016 - Start college!
Reminders Complete a FAFSA every year, as soon as possible after January 1. Estimated tax information is okay to use. No paper Award Letters are sent. CougarNet and SIUE email are the mediums by which we communicate with our students. Check CougarNet at least once a week to view any changes in the Award Letter or new requests for missing information.
Important Contact Information Office of Student Financial Aid
Office of the Bursar
(618) 650-3880 FAX (618) 650-3885 siue.edu/financialaid finaid@siue.edu 2308 Rendleman Hall Edwardsville IL 62026-1060
Office of Student Employment
(618) 650-2563 FAX (618) 650-2566 siue.edu/studentemployment stuemp@siue.edu 2221 Rendleman Hall Edwardsville IL 62026-1030
(618) 650-3123 FAX (618) 650-2971 siue.edu/bursar bursar@siue.edu Rendleman Hall, First Floor Edwardsville IL 62026-1042
We are here for you! ď ą Office of Student Financial Aid is open from 8 am until 4:30 pm to help you. Our office is located next door, Room 2308 Rendleman Hall. ď ą You can contact us by phone, email, fax or in person.