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Financial Aid at Case Western Reserve University - The Next Steps
FINANCIAL AID - The Next Step<br />
Presenters<br />Kristie Lillibridge <br />Office of University Financial Aid/Student Employment <br />Carl Ritenour<br />BURSAR: Student Accounts Receivable <br />Adam DiIulio<br />Office of University Financial Aid/External Loans<br />
Topics To Be Discussed<br /><ul><li>Federal Work Study Program and the Student Employment Process
Earnings are excluded from upcoming year’s student contribution</li></li></ul><li>Federal Work Study<br /><ul><li>Student wages are subsidized by the Federal Government up to the student’s earnings limit
Encourages students to participate in community service activities
Federal Work Study is an optional program</li></li></ul><li>What if I am not eligible for Federal Work Study?<br />You can still work<br />Almost 2/3rds of all student positions through the Office of Student Employment are non-work study campus jobs.<br />
Basic Pay Information<br /><ul><li>Campus minimum wage is $9.20 per hour
Other Financial</li></li></ul><li>Account Activity<br /><ul><li> Provides the user with itemized detail of the account
If the account has more than 10 rows of data, the user must click on “View All” to view all.
Expanding the date range</li></li></ul><li>Billing Statement <br />Select the make a payment tab<br />Click on Account Inquiry<br />
<ul><li> Click on the Open online billing and payment link
A new window appears giving you a new menu from which you can view the bill (current & past) and make a payment.</li></li></ul><li><ul><li>Your current billing statement will display a balance forward (where appropriate) and any new items, including charges, credits and pending aid.</li></li></ul><li><ul><li>You can also print a PDF version of your statement</li></li></ul><li>Online<br />Payment Option<br />Select Make a Payment<br />Type in the dollar amount of the payment<br />Select the method of payment<br />E-check or savings account<br />Discover ® Card <br /> A 1.77% service fee will be added to your transaction<br />Click on the continue button to key in the necessary account information and submit .<br />The Discover ® Card is the only credit card accepted due to the large fees associated with other cards.<br />
Other Payment Options<br />Mail payment using the pdf version of the bill<br />Pay in person at the Bursar’s Office (Yost Hall, Room 115)<br />Wire Transfer (please contact the Bursar’s Office for details)<br />Please Note: <br />Checks and money orders should be in U.S. dollars drawn on a U.S. bank, and made payable to “Case Western Reserve University.” Please include the student’s ID number on the check or money order.<br />Payment Mailing address:<br />Case Western Reserve University<br />P.O. Box 74056<br />Cleveland, Ohio 44194<br />Correspondence/Delivery by Courier:<br />Case Western Reserve University<br /> Bursar’s Office, Yost Hall, Room 115<br />10900 Euclid Avenue, Cleveland OH 44106-7043<br />
Set up Authorized Users<br /><ul><li> Access the Authorized Guest SetupScreen
Use this screen to set up an authorized user account for access to:
Financing Your Education<br /><ul><li>What are your options after you have exhausted the following?</li></ul>Savings <br />Assistance from Parents/Other(s)<br />Scholarships (http://blog.case.edu/financialaid/) <br />State and Federal Grants, if eligible<br />Work-Study, if eligible <br />Tip:Search first for sources of Financial Aid that don’t need to be repaid!<br />
Student Loan Programs <br />Federal Loans: Administered and regulated by the US Department of Education.<br />Federal Direct Subsidized Loan<br />Federal Direct Unsubsidized Loan<br />Federal Perkins Loan<br />Federal Direct Parent Loan for Undergraduate Student (PLUS)<br />Private Loans: Generally administered and regulated by the University, loan company and/or bank.<br />Private Educational Loan<br />CWRU Loan*<br />*Offered through financial aid award for those students who are eligible<br />
Direct Loan Application Process<br />Once a student’s file is complete, an e-mail will be sent directing him/her to the www.studentloans.gov web site where they will complete the required loan Entrance Interview. <br />Through the Student Loans website they will also complete the Master Promissory Note (MPN). <br />The Entrance Interview provides information on the borrower’s rights and responsibilities. The MPN will permit Direct Loan borrowing in subsequent years.<br />
Subsidized/Unsubsidized Direct Student Loans<br /><ul><li>Subsidized program – need-based
Independent undergraduate and dependent undergraduates whose parents are denied a Parent PLUS Loan may receive up to $4,000 additional Unsubsidized loan for the 1st and 2nd years and $5,000 for 3rd-5th year. </li></li></ul><li>Perkins Loan<br /><ul><li>Student loan; need-based; subsidized
Has a nine-month grace period prior to start of repayment</li></li></ul><li>Perkins Loan/CWRU Loan Application Process<br />The Perkins Master Promissory Note (MPN) as well as the CWRU Loan Promissory Note is available through ECSI, our loan processing partner. The student will receive an e-mail from ECSI to their CWRU e-mail account with a link to www.ecsi.net.<br />The student will sign the MPN electronically. Funds will disburse at the beginning of each semester.<br />
Parent PLUS Loan<br /><ul><li>Federal Loan, not subsidized, not need-based
No set borrowing limit. Amount borrowed can be up to budgeted cost of attendance, less any aid the student is already receiving
Parent is the borrower and is solely responsible for repayment
Private Loans<br /><ul><li>Private Educational Loan </li></ul>Lender List at www.elmselect.com<br /><ul><li> Other bank loan</li></ul>(i.e. Home Equity Line of Credit)<br />
Loan Disbursements<br />Private Loans usually have additional steps documents and can take between 2-4 weeks to disburse. <br />Loan proceeds will be disbursed to the student’s account after classes have begun and all requirements fulfilled. This occurs at the beginning of each semester.<br />
Managing Your Loans<br /><ul><li>Read, understand, and save all loan documentation.
While in school, use SIS Student Center to view your tuition account history. To revise or accept your financial aid award use briefCase.
You can monitor your cumulative loan balances on briefCase. Federal loans will also be on www.nslds.ed.gov and all loans on your credit report (www.annualcreditreport.com).
Contact a Financial Aid Counselor with any questions on your award or student loans.</li></li></ul><li>Contact Information<br />Office of University Financial Aid<br /> 216-368-4530<br />firstname.lastname@example.org<br />Office of External Loans<br /> 216-368-5056<br />email@example.com<br />Office of Student Employment<br /> 216-368-4533<br />firstname.lastname@example.org<br />BURSAR: Student Accounts Receivable <br /> 216-368-2226<br />email@example.com<br />