where excellence and opportunity meet.™ financial aid office odyssey 2012
TRANSCRIPT
Where excellence and opportunity meet.™
Financial Aid OfficeOdyssey 2012
Financial Aid Office
FINANCIAL AID PROCESS
Obtain PIN online (www.pin.ed.gov)
______ File FAFSA online (www.fafsa.gov)
______ Review Student Aid Report (SAR)
______ Complete ‘To Do’ Items (Titan Web)
______ Accept/Decline Awards (Titan Web)
______ Complete Promissory Note(s) (if applicable)
______ Complete Loan Entrance Counseling (if applicable)
______
Financial Aid Office
OBTAIN PIN (Personal Identification Number)
www.pin.ed.gov
Serves as your electronic signature
May be used to file your FAFSA, make corrections to your SAR, and monitor federal loans you receive
Parents of dependent students should also obtain a PIN to electronically sign the FAFSA
Financial Aid Office
FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)www.fafsa.g
ov
UW Oshkosh Federal School Code: 003920
Financial Aid Office
COMPLETE ‘TO DO’ ITEMS(Titan Web)
Read carefully and submit the information requested – it
may simply require you to complete an online process! That would be the case if you
had a To Do Item for a Master Promissory Note or Loan Entrance Counseling
for Student Loans.
Financial Aid Office
WWW.UWOSH.EDU/FIN_AID/FORMS
Online forms can be submitted online by the
student, other forms must be printed and signed by the
student and/or parent before submission.
Financial Aid Office
SUBMITTING DOCUMENTS TO THE FINANCIAL AID OFFICE
Always include the student’s ID number
Submit requested items in a timely manner
Many items require the student’s AND a parent’s signature
Student can email the Counselor listed on the ‘To Do’ Item for clarification
Financial Aid Office
AWARD NOTIFICATION
Your student’s award notification will be sent via e-mail (to the student), directing him/her to Titan Web to Accept/Decline Awards
The award notification includes important information, so be sure
to read carefully!
Financial Aid Office
ACCEPT/DECLINE AWARDS
Financial Aid Office
HOW FINANCIAL AID IS AWARDED
Estimated Cost of Attendance (COA)
(Determined by UW Oshkosh)
– Expected Family Contribution (EFC)
(Determined by FAFSA)__________________________________________________________________________________________________________________
= Financial Need
* Total Financial Aid awards cannot exceed COA and need based awards cannot exceed financial need (outside scholarships may be an exception)
Financial Aid Office
ESTIMATED COA(Cost of Attendance aka ‘Budget’)
BudgetItem
WI Resident
Non-Resident
MN Resident
Midwest Exchange
Return to WI
Books $500 $500 $500 $500 $500
Room/Board $3,463 $3,463 $3,463 $3,463 $3,463
Loan Fees $38 $38 $38 $38 $38
Personal $1,000 $1,000 $1,000 $1,000 $1,000
Transportation $350 $350 $350 $350 $350
Tuition $3,680 $7,467 $3,878 $5,173 $5,774
TOTAL $9,031 $12,818 $9,229 $10,524 $11,125
The COA is an estimate of total expenses (direct and/or indirect) used to determine financial aid eligibility. It is not necessarily the amount that will appear on your bill.
Undergraduate Full-Time Students 2012-2013 (per semester)
Financial Aid Office
WHAT DOES EFC MEAN?(Expected Family Contribution)
Determined by the information provided on the FAFSA and through federal calculation
Combined parent and student contribution
Determines what types of financial aid a student may be eligible to receive
Not what you owe the university – it is a number used to determine aid eligibility
Financial Aid Office
FUNDING AT A GLANCE
Scholarships State, Institutional, Private
Grants or Fee Remission Federal, State, Institutional
Federal Work-Study
Loans Subsidized/Unsubsidized Federal Direct Loans Parent Loans for Undergraduate Students (PLUS)
Financial Aid Office
SCHOLARSHIPS
www.uwosh.edu/fin_aid Types of Aid > Scholarships > Available
Scholarships
In addition, look to community resources: Service clubs, corporations, foundations,
high school counseling office, employers, etc.
Financial Aid Office
FEDERAL AND STATE GRANTS (Eligibility determined
by filing FAFSA)
Federal Pell Grant, Supplement Educational Opportunity
Grant (SEOG), etc.
State of Wisconsin Higher Education Grant, Wisconsin Covenant,
Tuition Grant, Talent Incentive Program Grant, etc.
Financial Aid Office
FEDERAL WORK-STUDY(Eligibility determined by filing
FAFSA)
Paid through regular bi-weekly paycheck in work-study position (not credited to bill) – student must apply for job, meet job qualifications, interview, etc.
Job Opportunities @ UW Oshkosh www.uwosh.edu/career/TitanJob
s Convenient locations and flexible
hours
Financial Aid Office
LOAN PROGRAMS
Federal Loan Programs Subsidized Direct (Stafford) Loans Unsubsidized Direct (Stafford) Loans PLUS (parent) Loans
Private/Alternative Loans
Financial Aid Office
SUBSIDIZED/UNSUBSIDIZED FEDERAL DIRECT LOANS
Student is borrower and eligibility determined by filing FAFSA
Subsidized loan eligibility is based on financial need
All federal student loans for 2012-2013 are at a 6.8%* rate
Repayment begins 6 months after graduating or dropping below half-time status
Maximum Award: $5,500 per year (ED deducts 1% fee automatically) Subsidized/Unsubsidized combined, freshman,
dependent Master Promissory Note and Loan Entrance
Counseling required – student completes at www.studentloans.gov
*U.S. Congress may take action to allow subsidized loans for 2012-2013 to be at 3.4%
Financial Aid Office
PARENT (PLUS) LOANS
Eligibility determined by filing the FAFSA, but separate application required – available on Financial Aid Office website
Not based on financial need and the parent is the borrower
Fixed 7.9% interest rate – credit check required Repayment begins 60 days after the final
disbursement (or parent may contact Direct Loan Services for deferment)
Award amount based on COA minus all other aid awarded
Master Promissory Note required by parent who applied for loan – parent completes at www.studentloans.gov
ED deducts 4% loan origination fee automatically
Financial Aid Office
PARENT (PLUS) LOAN PROCESS
Begin Parent Loan (PLUS) Processing on the Financial Aid Office website, under the Quick Links
Read the information carefully and follow the instructions.
1. Application Form
2. Parent MPN
Financial Aid Office
DISBURSEMENT OF FINANCIAL AID FUNDS
The student will receive an e-mail from Student Accounts in August directing him/her to view the charges in Titan Web and the due date will be in mid-September
Financial aid awards will begin to be disbursed about one week prior to the first day of classes, which is September 5th
Loan funds are disbursed only after Loan Entrance Counseling and Master Promissory Notes are completed and correct
Financial Aid Office
ADDITIONAL INFORMATION
Financial Aid Guide Includes financial aid
policies and procedures at UW Oshkosh
Financial Aid Newsletter Quarterly newsletter
presenting timely information
Satisfactory Academic Progress (SAP) To maintain eligibility
for financial aid, a student must complete 67% of all coursework, maintain a 2.00 GPA and graduate within 180 credits
www.uwosh.edu/fin_aid
Financial Aid Office
FINANCIAL AID OFFICE
Office Hours:Monday – Friday7:45 a.m. – 4:30 p.m.
Counselor Walk-In Hours:
Monday – Friday
10:00 a.m. – 2:00 p.m.
www.uwosh.edu/fin_aid
Dempsey Hall 104800 Algoma Blvd.
(920) 424-3377
Individual appointments also available by request
Where excellence and opportunity meet.™
QUESTIONS?
Financial Aid Office
FINANCIAL AID MYTH
My family’s income is too high to qualify for financial aid.
Financial aid is determined by more than just income. And,
regardless of income, a student may qualify for a student loan.
Financial Aid Office
FINANCIAL AID MYTH
A student can accept the Parent (PLUS) Loan in Titan Web and the process is
complete.
A student cannot accept a parent loan. A parent would need to apply for it via a
form available on the Financial Aid website, be approved, and have a valid
MPN completed.
Financial Aid Office
FINANCIAL AID MYTH
Students who are not claimed on their parents’ tax return are always
considered independent for financial aid purposes.
Dependency status is determined by the information you provide on
the FAFSA.
Financial Aid Office
FINANCIAL AID MYTH
A student who does not receive a financial aid award letter through the
mail will not receive financial aid.
Award information is available in Titan Web. Most students will receive a
courtesy e-mail directing them to Titan Web to Accept/Decline awards offered.
Official award notification is in Titan Web.
Financial Aid Office
FINANCIAL AID MYTH
Students who do not accept all the loans offered to them cannot request
them later.
Students should only accept the loans they need. A student could receive a loan later, if requested,
and eligibility remains.
Financial Aid Office
FINANCIAL AID MYTH
It is too late to apply for financial aid.
Students may be awarded financial aid throughout the academic year.
File the FAFSA online at www.fafsa.gov.
Financial Aid Office
FINANCIAL AID MYTH
Students who apply for aid this year do not need to apply again next year.
Students should file the FAFSA every year. If possible, file the FAFSA by the
March 15th priority date to be considered for limited funded programs.