JSC Money Matters


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  • The cost of attendance varies based on the enrollment status of the student; this means that the tuition rate will be different for students based on whether they are considered in-state, out-of-state or NEBHE. Out-of-state students enrolled in a NEBHE-eligible program receive discounted tuition. Eligible programs vary by state and are subject to annual review by the New England Board of Higher Education. If a student enrolls for fewer than 12 credits, the student is considered part-time. Part-time students are charged tuition based on a per-credit basis. Please note, that part-time status does effect financial aid eligibility. If your students is receiving financial aid it is important that they be in contact with the Financial Aid Office if they expect to reduce their number of credits below the full-time threshold.. Students enrolled in 12 to 18 credits are considered full-time. These students pay a single tuition rate regardless of the number of credits. A student enrolling in more than 18 credits is charged an additional per credit rate for all credits greater than 18. Enrollment as of the end of the add/drop period (approximately 2 weeks after the start of school) is considered the final enrollment for the student and all subsequent billing will be based on this enrollment. Students living on campus are charged for room and board. Room charges are based on the living arrangements for the student and will vary depending on whether the student is living in a double, triple or single room. Board charges are based on the selected board plan. Information regarding these plans will be available when you meet with the Business Office. All undergraduate students are charged a Campus Initiative Fee and a Student Activity Fee. The Campus Initiative Fee is used to offset the capital construction costs for on-campus construction. The Student Activity Fee is used to support student clubs and activities on campus. Course fees are charged to offset extraordinary costs for individual courses. They may be travel fees, materials fees or lab fees. Course fees are listed with the course bulletin and are available to the student before registering for the class. Books are an expensive proposition! You may purchase your textbooks through the college’s bookstore either when you return to campus for orientation, or online. To help students with paying for their books, the college allows students who have finalized their payment arrangements to charge their books and supplies to their account. This minimizes your initial cash outlay and allows you to delay payment for this expense for a few weeks.
  • All Full time students in the Vermont State College system are required to have health insurance. If students have an injury or accident, they don’t have to drop-out of college to pay their medical bills. The coverage runs Aug 15, 2011 to August 14, 2012.Johnson State College passes along the cost of this insurance with no markup.
  • In addition to cash, check and credit card, Johnson State College offers electronic payments through on-line ACH deposits using your checking account. Additionally, the college offers you the choice of a deferred payment plan that allows you to extend your payments through the semester.
  • The college is pleased to offer payment plans that allow you to spread your payments over several months. There is a $30 set-up fee, and the first installment is due at signing. To sign up for a payment plan, go to the students billing account, which parents will have access to, once your students have set you up as an authorized user.. Once you’ve logged in with your user id and password, you can set up your payment plan from the Make a Payment option.
  • Payment must be finalized by August 12. In order to consider your payment finalized, you must meet all of the following conditions: Your financial aid file is complete and ready to disburse. This means that you have completed all of the required paperwork for your lender (if needed) and your verification is complete (if necessary). If you have a remaining balance, after your aid, you have paid the balance in full with cash or credit card; orYou have an approved payment plan on file that is up to date with all payments.
  • Let’s put this in the positive. NO ONE wants to talk about the consequences for not finalizing payment by the deadline, but we feel that it is important to let you know fully what to expect if we are not able to make final arrangements for payment as the due date. For students who have not arranged for payment by the due date, the following actions will occur: Move-in day is scheduled for August 19. In order to minimize your time in lines you will want to arrange for payment before this day. You and your student will be much happier spending the day moving into her room than waiting in line at the Business Office. The College allows students who have finalized their payment to charge their books to their student account. This is a very convenient service for many students and families as books can be quite expensive and this minimizes the initial cash outlay. If payment is finalized by August 12, your student will be able to charge her books. Students who have not finalized payment are not eligible to use their work study award until payment is finalized. Delaying payment may result in a loss of this benefit if too much time passes. NCAA regulations require that students traveling or playing with a Varsity team must be current with their student account. Until payment is finalized, your student will be ineligible to travel or play with a varsity team. Accounts that have not been finalized by the due date will be charged a $100 late fee. Last but not least, we do need to mention that if payment has not been finalized by September 30, we may be forced to administratively dismiss your student for non-payment. When this happens, your student will be withdrawn from all classes, and the bill and any financial aid will be pro-rated.
  • Don’t forget to waive your health insurance
  • Don’t forget to waive your health insurance
  • JSC Money Matters

    1. 1. MONEY <br />MATTERS<br />
    2. 2. Agenda<br />Calculating cost of attendance<br />Financial Aid<br />Schedule<br />Deadlines<br />Processes<br />Billing and Payment Processes<br />Overview of Process<br />Tutorial<br />Deadlines and Reminders<br />We are here to help you start the semester smoothly<br />
    3. 3. Calculating Cost of Attendance<br />Cost of attendance is based on: <br />Residency or Program Status<br />Number of Credits Enrolled<br />Room and Board<br />Fees<br />Books<br />These costs will vary for you based on your course enrollment<br />
    4. 4. Financial Aid To Do List<br /><ul><li>FAFSA
    5. 5. State Grant Application
    6. 6. Accept your Financial Aid Award
    7. 7. Submit any Documents Requested
    8. 8. Federal Direct Student Loans
    9. 9. Federal Direct Parent PLUS Loan
    10. 10. Private Student Loans</li></ul>Students must check their JSC email accounts regularly<br />
    11. 11. What should already be done?<br /><ul><li>FAFSA- The Free Application for Federal Student Aid
    12. 12. This is JSC’s only application for aid
    13. 13. State Grant Applications
    14. 14. Check with your state agency </li></ul>In college, students are responsible for these tasks with assistance from parents<br />
    15. 15. Once you’ve been awarded!<br />Communication is Key!<br />Students and Parents need to know what is going on! Have a checklist to stay on track!<br />What should you<br /> be doing now?<br />Many financial aid tasks have deadlines students and parents must share information regularly<br />
    16. 16. Aid and Documents<br /><ul><li>Accept Your Aid Package
    17. 17. Return letter by mail
    18. 18. Accept aid on Web Services
    19. 19. Submit Requested Documents
    20. 20. Verification Worksheet
    21. 21. Federal Tax Returns
    22. 22. Do Not Delay!
    23. 23. Submit requests for any additional information promptly.
    24. 24. Students need to check their JSC email accounts regularly for important updates.</li></ul>If you are asked for information provide it as soon as possible<br />
    25. 25. Loan Entrance Counseling<br />Visit www.studentloans.gov and complete two requirements to borrow student loans:<br /><ul><li>Step 1
    26. 26. Sign in using your FAFSA PIN as your password
    27. 27. Select: Complete Entrance Counseling
    28. 28. Follow the directions all the way through to the end of the online session.
    29. 29. Required so you learn your rights and responsibilities as a borrower.</li></ul>Student loans will not be released to JSC until completion of this process. <br />You complete this once while at JSC, take a few moments now to complete the process<br />
    30. 30. Master Promissory Note<br /><ul><li>Step Two
    31. 31. Select Complete Master Promissory Note (MPN)
    32. 32. Then select: Subsidized/Unsubsidized as the loan type
    33. 33. You will need to complete the on screen instructions through the entire process
    34. 34. Notification on the screen and by email means you successfully completed the process
    35. 35. Student Loan funds cannot be disbursed without a signed Master Promissory Note on file. Parents borrowing will complete a master promissory note as well. </li></ul>If you are accepting both subsidized and un-subsidized loans you only do this task once<br />
    36. 36. Perkins Loan<br />When Notified Take Action<br /><ul><li>Students need to complete their Perkins Promissory Note and Entrance Counseling online if this award is part of your aid package.
    37. 37. Procedures for completion will be sent from our servicer, ECSI once the loan is accepted.
    38. 38. Upon receiving the instructions, students must complete the process as soon as possible.
    39. 39. Only required to complete this process once while enrolled at JSC.</li></ul>If you are accepting a Perkins Loan, you must complete the promissory note on-line<br />
    40. 40. Work-Study <br />What is it? Federally funded campus employment paid to the student biweekly (Use direct deposit to receive funds quicker).<br />How is work-study eligibility determined? Based on need as determined from your FAFSA information.<br />What is it used for? Earnings are for the student’s personal spending money and can not be applied towards the college bill.<br />How is a job found? List of positions provided at start of the semester. Look for a job early as employment is not guaranteed. <br />Students CAN NOT begin earning their work-study until their Financial Aid file is complete, and account is settled<br />
    41. 41. Additional Funding<br />Federal Direct Parent PLUS Loan—<br /><ul><li>Complete the JSC PLUS Pre-Application provided by the FA Office or print from our web-site.
    42. 42. At www.studentloans.govtheparent borrower logs in with their PIN.
    43. 43. Choose menu option “Sign Master Promissory Note” and follow instructions to completion.
    44. 44. A credit check is performed before loan can be approved.</li></ul>Private Student Loans—Requires a credit worthy co-signer, and is a resource to consider as a last resort.<br />PLUS loans are processed on-line <br />no Entrance Counseling required <br />
    45. 45. Student Health Insurance<br />Johnson State Health Insurance Requirement<br />Accept or Decline online by August 12 to avoid a late fee<br />Completed annually<br />Decline the health insurance no later than September 30. If not declined by this date the charge cannot be removed<br />Save yourself $1407 by declining the health insurance if you have insurance through another carrier<br />
    46. 46. Save $1,407 here!<br />Online Health Insurance Form<br />Save $1,407 here!<br />Decline on-line by September 30 or the charge remains on the account<br />
    47. 47. Payment Options<br />Electronic payments using your check or credit card<br />Cash, check or credit card<br />Payment Plans<br />All payment options are available electronically 24-hours <br />a day<br />
    48. 48. Payment Plans<br />Interest Free<br />Six (June start), Five (July start) and Four (August start) month plans available<br />Can be set up as early as June 1<br />First payment due at signing<br />$30 set-up fee<br />All payments must be made electronically<br />Payment plans are available now, sign-up early to have the longest repayment terms<br />
    49. 49. Deadlines<br /><ul><li>Payment must be finalized </li></ul> by August 12 meaning…<br /><ul><li>Your financial aid is complete and ready to disburse
    50. 50. Your remaining balance is paid </li></ul> in full<br /><ul><li>Your remaining balance is </li></ul> covered with an approved, <br /> up-to-date payment plan<br />Save yourself $100, finalize that payment plan by the deadline!<br />
    51. 51. Why finalize payment by the deadline? <br />Skip the line at the Business Office<br />Charge your books at the Bookstore<br />Begin your Work Study job at the start of the semester<br />Maintain eligibility to play on a Varsity Team <br />Avoid a $100 late fee<br />The biggest benefit? Knowing that your account is settled and you can start the semester without worry<br />
    52. 52. Tutorial<br />http://www.youtube.com/watch?v=7zq5hsJauF4<br />Tutorials are available on the JSC YouTube channel. <br />Links can be found on myjsc.vsc.edu & jsc.edu<br />
    53. 53. Last Thoughts<br /><ul><li>Work together to understand where you are in the financial aid cycle
    54. 54. Finalize your financial aid paperwork and Make your final payment and/or set-up your payment plan by August 12 to avoid a late fee
    55. 55. Accept or decline health insurance
    56. 56. Request your student set you up as an “Authorized User” for electronic billing
    57. 57. Students must check their JSC email regularly to stay up to date</li></ul>Financial Aid and the Business Office are ready to help<br />
    58. 58. MONEY <br />MATTERS<br />Questions?<br />