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Financial Aid Overview, Fall 2010






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Financial Aid Overview, Fall 2010 Financial Aid Overview, Fall 2010 Presentation Transcript

  • Financial Aid Overview Presentation offered by: Kirsten Lehrmann, Assistant Director
  • About Student Financial Aid and Scholarships
    • SFAS is located on the 1 st and 2 nd levels of the ESSC
    • Full-time staff at front counters and phones
    • Collectively, our staff has 281 years of financial aid experience
    • Annually award over $280 million in financial aid and scholarships
  • What Is Financial Aid?
    • Financial Aid is money from the federal and state government, the institution of higher education, and private resources that assist a family in meeting the cost of the student’s education.
  • Types of Aid
    • Grants
    • Need based funds the student does not repay.
    • Work Study
    • Need based award which allows the student to participate actively in meeting the cost of their education while gaining valuable work experience.
    • Loans
    • Borrowed money that must be repaid.
    • Scholarships
    • - University General
    • Academic Scholarships
    • - Departmental
    • - External
  • What is the financial aid process at UNT?
    • Students should:
    • Obtain a PIN through: www.pin.ed.gov
    • Collect documents needed to apply
    • Complete the Free Application for Federal Student Aid (FAFSA) at: www.fafsa.gov
    • Be conscious of UNT’s Priority Dates
    • Check their To Do List often
    • Respond to requests for additional information in a timely manner
    • Take advantage of the 8 months they have to prepare for the upcoming year
  • Priority Dates
    • Priority dates are not deadlines
    • Target dates to submit FAFSA and/or additional information to SFAS
    • Submit FAFSA to the Federal Processor by:
            • March 31 st
    • Respond to SFAS’ requests for additional information by: May 15 th
    • *The Summer Application for Financial Aid does have a deadline.
  • Additional Information Requested If additional information is requested, students will be contacted through several modes of communication including:
      • To Do List
      • Message Center
    • Mail
    • Email
    • Telephone
    Students should check their often in order to respond to requests in a timely manner.
    • May impact awards or eligibility
      • Degree/Program information-Double majors
      • Satisfactory Academic Progress
        • - Qualitative (GPA)
          • Undergraduates: 2.0
          • Graduate Students: 2.75
        • - Quantitative-hours required to complete
      • Maximum Hours
        • 120 hours x 150%=180 hours of eligibility
      • Length of time in school
      • Number of enrolled hours
      • - Student Teaching
    Students’ Academic Information
    • Appeals
      • - Serious injury
      • - Extended Illness
      • - Death of a relative
    • Extraordinary expenses
      • - Medical/dental expenses
      • - Elementary or secondary
      • school tuition
      • - Elder care
    Special Considerations
    • Changes in income
      • - Loss of job
      • - Loss of parent
      • - Loss of benefits (child support, social security)
    • Dependency overrides
      • - Abuse
      • - Abandonment
      • - Neglect
  • How does a student use financial aid to pay for classes? Pending Aid is scholarships the student has been awarded and/or financial aid the student has "Accepted" on . Pending Aid does NOT include College Work-Study or Parent (PLUS) Loans that have been denied due to adverse credit history by the lender. Parent (PLUS) Loans will count toward Pending Aid if the Parent (PLUS) Loan borrower does not have an adverse credit history and SFAS has received a credit approval by the lender.
  • Pending Aid Example Tuition & Fees $4,000 - Scholarships = $1,000 - Pell Grant = $500 - Stafford Loan = $750 - Work-study = $2,000 - Parent (PLUS) Loan = $6,000 (credit not approved) How much will the student be required to pay? $4,000 - $1,000 - $500 - $750 = $1,750 Student can pay $1,750 by cash, check or credit card OR they can utilize the Installment Plan and/or Short Term Loan options offered through Student Accounting and University Cashiering Services.
  • Disbursement of Aid
    • Fall awards begin disbursing to UNT a week before classes begin. Pending Aid that has disbursed will be viewed as Financial Aid.
    • Funds disburse to Student Accounting and University Cashiering Services (SAUCS) to pay current tuition and fee charges.
    • SAUCS refunds remaining Financial Aid to students for other educational expenses.
    • *Student pays for room & board, books, supplies,
    • transportation & personal expenses.
  • Need More Information? www.unt.edu/finaid
    • SFAS Office Hours:
      • Monday-Friday; 8-5
    • SFAS Phone Number:
      • (940) 565-2302 Direct
      • (877) 881-1014 Toll Free
    • ESSC Extended Hours:
      • Monday-Thursday; 5-7
      • Saturday; 9-1