october 21, 2013 by dionne l. hallback tcnj financial aid process educational opportunity fund...
TRANSCRIPT
October 21, 2013By
Dionne L. Hallback
TCNJ FINANCIAL AID PROCESS
EDUCATIONAL OPPORTUNITY FUND
JUNIOR AND SENIOR
YEAR
Online application: www.fafsa.ed.gov
2014-2015 FAFSA available on or after January 1, 2014
Application completed each academic year.
FAFSA on the Web Worksheet- Get a P.I.N. at www.pin.ed.gov.
Complete the ‘state application’ for New Jersey on the FAFA confirmation page.
Do not pay for help completing the FAFSA!
NEW JERSEY ADDITIONAL INFORMATION
QUESTIONS
New Jersey requires additional data elements, other than what is reported on the FAFSA, to determine a student’s eligibility for a Tuition Aid Grant (TAG) award, NJ STARS & NJ STARS II and Governor’s Urban Scholarship.These elements include:
Driver license information Veterans education benefits
(independent students) Untaxed Social Security
benefits Earned income credit
Once students have completed the FOTW, they must select the second option on the confirmation page to report this information to HESAA.
Higher Education Student Assistance Authority
(HESAA)
FAFSA
• FAFSA is available January 1st
• Complete your FAFSA by March 15th • HESAA requires all continuing students FAFSA on file by June
1st
Verificatio
n and Awarding
• April – Verification process begins: check your PAWS To Do List and TCNJ Email
• June - Awarding begins for continuing students on a weekly basis
Billing
and De-
Registratio
n
• July – Fall bill email notifications are sent (Office of Student Accounts)
• August – Fall bill is due• August – De-Registration
FINANCIAL AID TIMELINE
Pell Grant: Federal grant awarded on the basis of need and college costs. Current year minimum/maximum: $749 - $5645
Tuition Aid Grant (TAG): State grant awarded on the basis of need, cost of attendance and available funding. Current year minimum/maximum: $2516 - $8768
NJ ED Opportunity Fund (EOF): Standard EOF grant awarded to all students in the program. Current year awards: $1150 (commuter) and $1400 (on
campus)
Supplemental Opportunity Grant (SEOG): Awarded to the neediest students as defi ned by the FAFSA. Current year: $1500
GRANTS
Level Amount Units CGPA
Level 1 $500.00 12 2.250
Level 2 $1,000.00 13.75 2.500
Level 3 $3,000.00 15 2.750
Level 4 $5,000.00 16 3.000
EOF INCENTIVE SCHOLARSHIP
Junior Year
Level Amount Units CGPA
Level 1 $500.00 18 2.250
Level 2 $1,000.00 20 2.500
Level 3 $3,000.00 22 2.750
Level 4 $5,000.00 24 3.000
Senior Year
Questions regarding the EOF Incentive Scholarship can be directed to Joan Pageau at [email protected] or 609-771-3142
FinAid.org www.finaid.org
The College Board www.collegeboard.com
FastWeb.com www.fastweb.com
GoCollege.com - The Collegiate Websource www.gocollege.com
PRIVATE SCHOLARSHIPS
Loan Application Process
Interest Fees Amount Borrowed
Stafford FAFSA 3.86% 1% Depends on academic year
Perkins FAFSA 5% 0 Managed by the FA Office ($3,000)
NJ Class* HESAA.org Option 1: 5.49%Option 2: 6.65%Option 3: 8.05%
3% Up to cost of attendance
Parent PLUS* PLUS Application
(TCNJ Financial Aid Website under Online
Services)
6.41% 4.204% Up to cost of attendance
**If the parent is denied the students are awarded additional Federal Direct Unsubsidized Loan ($5000.00 as a junior or senior)
Alternative* Lender Application
See lender website No Up to cost of attendance
LOAN PROGRAMS
*Students must complete a separate application for these loan programs. Application should be completed in June/July to ensure the loan is
processed and awarded by August.
DIRECT STAFFORD LOANS
Dependent Students
Independent Student
SallieMae www.SallieMae.com/tcnj
Citizenswww.CitizensBank.com/trufi tstudentloan
Discoverwww.DiscoverStudentLoans.com
Wells Fargowww.WellsFargo.com/student
ALTERNATIVE LOANS(TCNJ DOES NOT CERTIFY ANY ALTERNATIVE AND/OR PRIVATE
LOAN UNLESS A FAFSA IS ON FILE.)
See the Financial Aid website for Alternative Loan List &
Online Loan Comparison Tool
Reminder your EOF Promise
Book Stipend ends your
Sophomore year!
BOOKS
2014/2015 CHANGES
Major ChangesMother/Stepfather & Father/Stepmother changed to “Parent 1”and “Parent 2”, new wording #88 and #89
Parents unmarried and both living together, new response in question #59
IRS Data Retrieval option is not available for married parents filing separately and not available for unmarried parents who are both living together.
Revised Question #59 to read, “As of today, what is the marital status of your legal parents?”
Revised “Single” to “Never Married” Added a new response, “Unmarried and both parents living together”
FINANCIAL AID AND BUDGETING ON CAMPUS EXAMPLE
Any financial aid awarded after the Initial Award the student must apply for except the EOFP Incentive Award.
FINANCIAL AID AND BUDGETINGLIVING OFF CAMPUS EXAMPLE
What are your expenses for living off campus?
Example: Fall semester (5 months)
QUESTIONS
CONTACT INFORMATION
The Office of Student Financial Assistance
Green Hall – Room 101
Dionne L. Hallback 609-771-2211 [email protected]
www.tcnj.edu/~sfs/aid/