Preview 2015 - Financial Aid

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!

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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 ˗

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Earn money while working on campus

Student/Parent Loans ˗

Low interest loans that must be repaid

Outside/Private Scholarships 

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Check with your employer, private organizations, etc.

Use free scholarship search services  fastweb.com  isac.org  siue.edu/financialaid

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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)

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Apply as early as possible!

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The FAFSA is available January 1.

Complete the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov

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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.

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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!

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Check the status of your application for admission

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View financial aid documents requested/received (Verification)

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View and print Award Letter

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Check on your financial aid awards (scholarships, etc)

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View your bill

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Check on the availability of classes

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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

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 $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

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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

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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 

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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

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(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.