Cell phones offSave questions to the endPresentation is posted online
Online information: Award Acceptance, Documents required, any messages
Mailing was sent out to all FWS recipients on August 10Documents that are needed for employment application; we must see original documentsMoney earned can be used to pay current year educational expenses
Bursar’s Office will be at the Info Fair to answer questions about billing and making payments
Where they are in the processIf not awarded Unsub loan, still eligible; contact faloans
If you still need assistance in funding your child’s education, you can still borrow the Federal PLUS Loan at this point or later in the school year
Financial Aid: The Next Steps
FINANCIAL AID The Next Step
PresentersKristie LillibridgeOffice of University Financial Aid/Student EmploymentAdam DiIulioOffice of University Financial Aid/External Loans
Topics To Be Discussed• Federal Work Study Program and the Student Employment Process• Student Information System (SIS)• Student Loan Programs • Federal Loans • Private Loans• Loan Application Process
Federal Work Study• Federal Work Study is an optional program• A Federally funded need-based program included in the student’s financial aid package• Is not applied to direct costs• Priority in the job placement process • Work-Study Job Fair – September 5, 2012• Earnings are excluded from upcoming year’s student contribution• Students not eligible for FWS can still work on campus• Documents needed for the Employment Application
Basic Pay Information• Campus minimum wage is $9.20 per hour• Students are paid twice a month• Direct deposit is the preferred method of payment• Maximum hours a student can work per week = 20 Average is 8 to 10 hours per week• May work up to 40 hours per week during long breaks (i.e. Winter break and Summer)• http://jobbss.case.edu
Student Information System (SIS) www.case.edu/sis
Student Center• Academic and Financial Information• Payment Deadlines: •Fall semester: October 5, 2012 •Spring semester: March 8, 2013• Finances •Account Activity •Payments •Pending Financial Aid •Other Financial
Student Center•Set up an authorized user account for access to: •Student Finances •Academic Info •Student Center• Authorized user with financials access can view the bill, billing history, account activity, pending aid and can make an online payment• The university automatically charges a health fee
Financial Planning with your Student • Planning for four years • Communicate the importance of: • Credit Score • Credit Card • Budgeting • Etc. • Encourage your students to attend the financial literacy presentation Thursday at 10am in Nord 400
Financing Your Education•What are your options after you have exhausted the following? • Savings • Assistance from Parents/Other(s) • Scholarships • State and Federal Grants, if eligible • Work-Study, if eligible
Subsidized/Unsubsidized Direct Student Loans• Subsidized program – need-based• Unsubsidized program – not need based• Both programs require the filing of the FAFSA as a prerequisite step• Student is the borrower and is solely responsible for repayment• Repayment starts six months after leaving CWRU or if the student drops below half-time status
Direct Loan Application Process• Loan instructions were mailed in June directing students to the www.studentloans.gov• Master Promissory Note (MPN) - The MPN will permit Direct Loan borrowing in subsequent years.• Entrance Interview provides information on the borrower’s rights and responsibilities.
Federal Perkins Loan• Student loan; need-based; subsidized• Limited dollar program for colleges• Has a nine-month grace period prior to start of repayment• The student will receive an e-mail from ECSI to their CWRU e-mail account with a link to www.ecsi.net to e-sign their promissory note. The loan must be accepted by the student to receive this e-mail.
Parent PLUS Loan• Federal Loan, not subsidized, not need-based• Amount cannot exceed cost of attendance minus other aid• PLUS Loans do not show up under pending aid in SIS• Parents will log onto www.studentloans.gov to complete: • Parent PLUS application • MPN• PLUS Loans are disbursed at the beginning of each semester; please apply for the full amount you anticipate needing for the academic year• Only the disbursed amount starts accruing interest• Credit based loan – may be eligible for additional Unsubsidized Direct Loan if denied
Private Loans• Lender List at financialaid.case.edu• Private Loans usually have additional steps and can take between 2-4 weeks to disburse• Loan proceeds will be disbursed to the student’s account after classes have begun and all requirements fulfilled• Other bank loans (i.e. Home Equity Line of Credit)
Managing Your Loans• Read, understand, and save all loan documentation.• While in school, use SIS Student Center to view your tuition account history.• Federal loans will be viewable on www.nslds.ed.gov and all loans on your credit report.• Contact a Financial Aid Counselor with any questions on your award or student loans.
Contact InformationOffice of University Financial Aid Yost Hall 417A 216-368-4530 email@example.comOffice of External Loans Yost Hall 417 216-368-6153 firstname.lastname@example.orgOffice of Student Employment Yost Hall 410A 216-368-4533 email@example.comBURSAR: Student Accounts Receivable Yost Hall 115 216-368-2226 firstname.lastname@example.org