financial aid 2009-10 ten steps to finalize financial aid
TRANSCRIPT
![Page 1: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/1.jpg)
Financial Aid Financial Aid 2009-102009-10
Ten Steps to Finalize
Financial Aid
![Page 2: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/2.jpg)
Office Staff
• Carolyn A. Julian– Student Aid Adviser & Veterans Affairs Coordinator
• Catharine G. Hook– Administrative Support Staff
• Room 70 Swatara Building
• 717-948-6307
• 800-222-2056 Option #1
![Page 3: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/3.jpg)
2009-10 Estimated Tuition & Fees
• PA Resident Non-PA Resident– Tuition & Fees*
• $12,344 - $12,850 $18,420 - $19,238
– Room & Meals*• $8,300 $8,300
– Books & Supplies**• $1,900 $1,900
• *Direct Costs
• **Indirect Costs
![Page 4: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/4.jpg)
Step One
• 2009-10 Free Application for Federal Student Aid (FAFSA)
– www.fafsa.ed.gov– www.pin.ed.gov• Keep in a secure place
• Multiple uses
• School Code 003329• University Park
• All PSU campuses
![Page 5: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/5.jpg)
Step One Con’t
• Stafford Loans • Work Study• Answer (Both) to question
#31 on FAFSA
![Page 6: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/6.jpg)
Step TwoCampus Based Aid
• Supplemental Educational Opportunity Grant (SEOG)
• Perkins Loan• Work-Study• No separate application required
![Page 7: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/7.jpg)
Step Two con’t
• Student Aid Award Notification sent via email after March 25th.
• This notification will list all the student financial aid programs (loans, grants*, work-study, and/or scholarships) for which you are eligible for the fall & spring semesters.
• *Separate notification for PA State Grant (PHEAA).
![Page 8: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/8.jpg)
Step Three• Complete request from Pennsylvania Higher Education Assistance
Agency (AES/PHEAA).
• NEW: Online process--students will receive an email with website & instruction to complete.
• Name of College: Penn State Harrisburg
• Housing: On/Off Campus or Commuter.
• For PA Residents only
![Page 9: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/9.jpg)
Step Four• Complete verification process if selected by
University:– SS Card (student & parent)– Selective Service– Citizenship– Estimated filers
• Income Validation by PHEAA
• Copies of 2008 Tax return• Special Circumstances – Contact Office
after April 1, 2009 for the new form– Lost wages, untaxed income, death
![Page 10: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/10.jpg)
Direct Lending PSU participates in Direct Lending for Stafford,
Plus & Grad-Plus loans.
Interest Rate:Subsidized - varies 6-3.4% until 2011-12 Unsubsidized – 6.8% Origination fee 0.5%
Must have PIN#
![Page 11: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/11.jpg)
Step Five
Direct Stafford Student Loan• FreshmenFreshmen $5,500$5,500
• SophomoreSophomore $6,500$6,500
• Junior/SeniorJunior/Senior $7,500$7,500
• Graduate Graduate $8,500/12,000$8,500/12,000
• Independent Independent $4,000/5,000 $4,000/5,000
Disbursed ½ & ½ Disbursed ½ & ½
Answer #31 as bothAnswer #31 as both
![Page 12: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/12.jpg)
Step Five Con’t
• Students must sign a promissory note for Stafford and Perkins loan.– MPN – www.dlenote.ed.gov
• Good for 10 years
– Perkins – https://www.studentloans.psu.edu/esign
– PIN # used to sign online.
![Page 13: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/13.jpg)
Step Six
• Loan Entrance Counseling Required– Stafford Student Loan
• Activate PSU Access Account– Students
• Loan Entrance Counseling
![Page 14: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/14.jpg)
Step Seven
• Academic Scholarship Application – Web-based application
• online @ www.hbg.psu.edu– Prospective Student– Financial Aid– Scholarships
• GPA = 3.0 or greater– Deadline April 1, 2009
![Page 15: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/15.jpg)
Step Eight PLUS Loan – Parent borrows on behalf of the dependent
student.
Fixed interest rate @ 7.9%.
A 2.5% origination fee deducted from gross amount of the loan borrowed.
Repayment begins 60 days after the 2nd disbursement. May be deferred contact 800-848-0979
Set up “Friend of Penn State” eLion Access through student’s eLion account given at FTCAP. After 6/30 apply for PLUS loan at https://www.dlenote.ed.gov. Sign MPN one time only.
![Page 16: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/16.jpg)
Step Nine
• Complete Rapid Refund Form • eLion:
– Students• Refund Information
• Refund available within
48 hours
![Page 17: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/17.jpg)
Step Ten
CONFIRM REGISTRATION
Schedule/Registered
No Paper BillsBills on eLion approx.
July 10, 2009
![Page 18: Financial Aid 2009-10 Ten Steps to Finalize Financial Aid](https://reader035.vdocuments.us/reader035/viewer/2022062322/5697bfc81a28abf838ca88a3/html5/thumbnails/18.jpg)
Questions