Financial aid, grants, scholarships, and loans can be very confusing. Here are three numbers you want to consider when you are planning your budget:1. Actual costs - Tuition and fees are the easy part. It is the same for every student at Morrisville, but differ-

ent residence halls have different costs and so does the meal plan you choose. Add those amounts up, and you should have a pretty good handle on what your bill will look like. (First semester students will also have an orientation fee).

1. Extras - This is the tougher part. Everyone is different and it can depend on your major as well, so think about whether you will need a laptop, special tools for your curriculum, and what kind of books and supplies you might need. You also want to be able to order a late night pizza once in a while, a movie ticket, or MSC gear in the bookstore, so count on those kind of expenses too.

2. Your financial aid award - Shortly after you complete your FAFSA, you will receive an estimated award letter from our financial aid office. This is an offer of the awards you are eligible to receive, and will have the amounts of federal and state grants, any MSC scholarships awarded, student loans you can take, and usually an amount your parents can borrow.

Tuition: $5,870Fees: $1,457Housing $7,500 (standard double)

Meals: $4,790Total: $19,617

My best estimate:____________

Review your financial aid award. Make sure you accept/decline all loans and work study options in a timely manner. Be sure to submit all requested materials as soon as possible to ensure all your financial aid is received!

Still confused?Check out this

website and cl ick

on “Preparing for College:”

studentaid.ed.gov

Order your Federal tax transcript

www.irs.gov/Individuals/Order-a-Transcript

Now for the tricky part. Your financial aid award letter is NOT your bill. It is an award that considers your “actual costs” and an estimate of “extras.” If you are in a laptop program or a program that requires tools, the estimated “cost of attendance” is going to be higher than a student who might not have a need for these items.

I’ve been accepted to Morrisville! Now how do I pay for college?

What’s my first step?Filing your FAFSA is as easy as 1-2-3. As soon as January 1, you can complete your FAFSA online. Your Web for Student Account has lots of step-by-step guidance to help you... and convenient links to the FAFSA website to help you get started.

1. APPLY FOR A PIN A PIN (Personal Identification Number) lets you apply, sign your online

FAFSA, make corrections to your information and more – all online. Both you and one parent will need a PIN. Go to www.pin.ed.gov to apply.

2. COLLECT YOUR DOCUMENTS You will need your tax returns, W-2 forms, and other records of income to apply. A complete list can be found at www.fafsa.ed.gov. Remember, it’s okay to estimate your income if you haven’t had a chance to file your taxes. Once you do file, just return to your online FAFSA and use the IRS data retrieval tool to complete your application with accuracy.

3. COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) To meet school and state aid guidelines, complete this as early as possible. January is best! Apply online at www.fafsa.gov. If you are a New York State resident, submit a TAP application at www.tapweb.org.

Your admissions advisor is available to answer questions, direct you to the right offices, or just to lend an ear! Our Accepted Student Days are also designed to help you through the process, from schedules to billing. If you and your parents plan to visit the campus, we can arrange a time for you to speak to a Financial Aid Officer to discuss your personal situation as well. Remember, we are here to help.

Not quite ready to complete your FAFSA? You can estimate the aid you will receive

at:www.studentaid.ed.gov/fafsa/estimate

Make it easy on your-self. You can file an initial 2014-15 FAFSA by January 31, 2014 using estimated income information. Once tax info is submitted to the IRS, wait two weeks and then access your online FAFSA to import your 2013 tax return using the FAFSA-IRS Data Retrieval tool.

Family of five with one in collegeAdjusted Gross Income of $27,300 (New York Resident)SAT = 1240 GPA= 95Dean’s Award $5,000

Federal/State Grants + $9,773Federal Loans + $8,714Total Financial Aid $ 24,437

Tuition/Fees/Room & Board/Laptop $23,487Minus Financial Aid $23,487Net Cost $ 0

Family of four with one in collegeAdjusted Gross Income of $62,500 (New York State Resident)

SAT = 1060 GPA= 89Faculty Award $1,500Federal/State Grants + $791Federal Loans + $13,000Total Financial Aid $15,291

Tuition/Fees/Room & Board $23,487Minus Financial Aid - $15,291Net Cost $8,196

Mascot!

Financial Aid Package Case Studies

Average Financial Aid

Package$22,230

Mustang Merit

Scholarships

available up to

four full years

of study

HS GPA: Bachelor Degrees: 80-88 of middle 50%SAT range (of Bachelor degree students): 920-1100ACT range (of Bachelor degree students): 19-23

College CostsAs a public institution, Morrisville State College is committed to keeping costs as low as possible. When you are preparing your budget for college, you need to know as closely as possible what to expect. Prices fluctuate slightly each year, and our College website will have the most up-to-date figures. The costs below are accurate at the time of printing.

Calculating the Bottom LineCalculating your actual cost is an important part of the financial aid process.This worksheet is provided to assist you in estimating what you might pay.

TuitionFeesRoom and board + ________(A) Total Cost =

GrantsScholarshipsLoansPrevious Payments + ________(B) Total Aid =

(A) Total Cost(B) Total Aid - ________What you are responsible for paying =

Total cost minus total aid = what you pay

Financial Aid

315.684.6289

Look up photos on Morrisville’s Facebook

Tuition: $5,870Fees: $1,457Housing: $7,500 (standard double)Meals: $4,790Total: $19,617

Frequently Asked QuestionsQ. My parents haven’t completed their taxes. Should I wait to file my FAFSA?

A. No. You are allowed to estimate income figures. Once your taxes have been completed, you will need to go back online to update the FAFSA with the appropriate figures. Use the IRS Data Retrieval Tool!

Q. My parents are divorced. Which parent should I use when filing the FAFSA?

A. You will need to report the data for the custodial parent. (Not necessarily the one who claims you on their tax return.) The custodial parent is the parent with whom you lived the most in the past 12 months.

Q. I received a scholarship from another organization. What should I do?

A. Congratulations! Simply notify the Financial Aid Office of all outside awards. Your financial aid award may need to be adjusted to include this award, and you will be sent a new award letter.

Q. Do I have to reapply for financial aid every year?

A. Yes. After your first year, you will fill out the Renewal Application which will contain preprinted information from the previous year. You will just need to give an update!

Q. Do you offer a payment plan?

A. Yes. It’s a great way to spread out your remaining cost and it’s interest free. You can enroll at www.mor-risville.edu/studentaccounts or by calling the Student Accounts Office.

Q. What if my parents can’t take a loan to help me pay?

A. Ask your parents to apply for the loan. If they are declined or request hardship, you may be eligible for additional student loan money. Ask the Financial Aid Office to review your award.

Q. Our household income has changed a lot since our taxes were filed. Is there anything I can do?

A. Yes. Check for the Special Conditions Form available online at Morrisville’s Financial Aid website. Simply complete it and be sure to include any required documents. Your award will be reviewed!

81% of students at MSC receive financial aid

Our Financial Aid Office works hard to offer enough aid to cover the estimated costs of college. Each award is unique to you and your personal situation.

Our Commitment To YouMore Than One Million Dollars in Annual Scholarships

More than one million dollars is offered annually through our Mustang merit-based award scholarship program. Your application is reviewed for academic strength, and shortly after acceptance a separate award offer will be extended.

Additional scholarships are available through the Morrisville State College Foundation. A separate application is required and available online. A variety of awards and one-time scholarships are available to candidates who demonstrate leadership, community citizenship, academic or program specific merit.

Here are a few of our most popular scholarships. A full listing is available at morrisville.edu/schol-arships.

Presidential Award: Our highest award, Presidential Award winners receive $8,000 per year for a maxi-mum of four years. The student must be enrolled full time, and maintain a minimum GPA of 3.0.

Deans Award: This award covers the cost of in-state tuition for a maximum of four years. The student must be enrolled full time and maintain a minimum GPA of 3.0.

Faculty Award: These awards range from $500-$3,000 a year for a maximum of four years. The student must be enrolled full time and maintain a GPA of 2.5 or higher.

Local Campus Award: Awarded to incoming fresh-men ranked in the top 10% of their graduating class from high schools in Madison or Chenango counties, the Local Campus Award pays full tuition and fees less any Pell and Tap awards to our local freshmen in recognition of their academic merit.

Steps to Success Scholarship: Awarded to stu-dents who have shown promise during high school, but may fall slightly below the academic requirements of our merit-based awards, this initial award in the amount of $500 is eligible for annual increases over four years.

Morrisville State College Leadership Awards: Awarded to active members or officers of FFA, FBLA, Skills USA, 4-H, and NYS Dairy Princesses, these awards range from $500-$2,500 per year for a maxi-mum of four years. A GPA minimum of 2.5 is required to maintain the scholarship and is renewable each semester of attendance.

Morrisville alumni can be found everywhere, in all 50 states and the District of Columbia, a majority of Canadian provinces and several foreign countries. They work in organizations of all size, from Fortune 100 companies to start-ups, or continue their studies in leading graduate degree programs. And we are lucky to have several alumni right here on campus as faculty and staff members, where they share their expertise and love of the college with future alumni.

Invest in your futureBachelor degree recipients can expect to earn 84% more over their lifetime than someone with only a high school diploma. - The College Payoff (May 2011).

Lifetime earnings on average: High School Diploma: $1.3 million Some College/No Degree: $1.5 million Associate’s Degree: $1.7 million Bachelor’s Degree: $2.3 million

According to the Georgetown University Center on Education and the Workforce, by 2018, 63% of all U.S. jobs will require some form of post-secondary education or training.

Morrisville graduates consistently meet or exceed average starting salaries with consider-ation for occupation, geography and experience level.

Here’s how the Career Services Office can assist you: • Career exploration • Resumes, cover letters and portfolio reviews • Networking opportunities • Internship/job searches • Mock interviews • Preparing for and applying to graduate and transfer programs

Check out Morrisville State on the College Central Network (CCN), our online jobs and internships platform with opportunities specifically targeting Morris-ville students and alumni. Visit www.collegecentral.com/morrisville.

Our Commitment To YouMore Than One Million Dollars in Annual Scholarships

I credit Morrisville’s internship opportunities that landed me five job offers when I graduated. Internships are a very beneficial part of

your education and a stepping stone for anything you want to do.Kimani Smith

Morrisville State College Class of 2010

Invest in Your FutureOh, the places you’ll go as a Morrisville State graduate!

Alternative Loans - A private loan that assists with educational expenses. Interest rates and repayment schedules vary by lender. These loans are credit-based, and a cosigner may be required. Visit finaid.org for a complete overview. Cost of Attendance - Estimated expenses a student might have for the year. This includes living expenses, housing, meals, books and supplies, tuition, and fees.EFC - (expected family contribution) Once you submit your FAFSA, the federal government calculates a suggested annual family contri-bution toward education. The EFC is used to determine the amount of federal and state grant money offered. FAFSA - (free application for student aid) Online application to deter-

mine your eligibility for aid. You will need to provide information about household income, number of family mem-bers, and other details about your educational plans.Federal Parent PLUS Loan - These loans are available to par-ents to assist with the student’s cost of attendance. These loans are credit-based, and require a separate application. A credit worthy co-signer may be required. If a parent is denied a Parent PLUS loan or cannot secure a required co-signer, the student may be eligible for an additional $4,000 in unsubsidized student loan funding.MPN - (master promissory note) This is a formal agreement that promises to pay back money you borrow as well as any interest that may accrue. Often two references are requested as a way to contact you if needed.Pell Grant - This federal grant (up to $5,645/year) helps with costs of attending college. This money does not have to be paid back.PIN Number - The first time you complete a FAFSA, you will need to select a PIN number. You will need the PIN number each year you are in school, so record it and keep it in a safe place. Subsidized and Unsubsidized Federal Student Loans - Available to all students. Subsi-dized loans are based on financial need. The federal government will pay interest while the student is in school and during a six-month grace period. Interest on unsubsidized loans may accrue while the student is in school and during the grace period. Total maximum between both loans available to freshmen is $5,500. Available amount increases each year. Sophomores may borrow up to $6,500 annually, and juniors and seniors are eligible for $8,500 each year.TAP - This New York State grant (up to $5,000/year) helps with costs of attending college. This money does not have to be paid back, and is limited to New York State residents and/or recent graduates of a New York State high school.Federal Tax Transcript - Electronic record of your tax return. If you have filed your taxes or plan to file your taxes, you can use the transcript to complete that portion of the FAFSA. Be sure to choose that option when prompted! Verification - Occasionally, the federal government requests extra documentation to reconcile what is submitted on the FAFSA. If you are selected, don’t panic. It is a random process - and it doesn’t mean you did something wrong! Sometimes it’s as simple as checking your address... or you might be asked to provide a copy of your federal tax transcript. Our financial aid team can advise you.

Glossary of Terms