Tuition and Fees - University of Central Missouri

Report
Financing Your Future
Student Financial Services
Summer 2014
How Much Does it Cost to Attend UCM?
Tuition and Fees: $7,265
Based on 30 on-campus credit hours
($13,656 for non-residents)
Books and Supplies: $1000
Housing: $5,034 for a double room
Meal Plan: $2,794
Total $16,093 for Missouri Residents ($22,484
for Non-Residents)
Direct and Indirect Costs
Direct
• Tuition and fees
• Room and Board
• Books (if you buy them at UCM)
Indirect (part of the Financial Aid budget but not
paid to UCM):
• Travel expenses
• Loan fees
Financial Aid Process
You can still apply for federal aid
• Free Application for Federal Student Aid
– www.fafsa.gov
– www.pin.ed.gov
• UCM FAFSA code is 002454
• Priority deadline is April 1st for state and UCM
campus based funding.
Financial Aid Process continued
Financial Need
Cost of Attendance (COA)
- Expected Family Contribution (EFC)
_______________________________
= Financial Need
This formula is the basis for how all aid is
awarded to the student.
Types of Financial Aid
• Scholarships and Grants
– Can be from federal, state or private sources
– Can be need or non-need based
• Loans
– Stafford Subsidized and/or unsubsidized
– Perkins
– PLUS loans or Private/Alternative Loans
• Work Study
Loans
• For Perkins and Stafford loans
– FAFSA is application
– Must do Master Promissory Note (MPN) and
Entrance Loan Counseling
• Parent PLUS and Private/Alternative
– Separate credit check/application
– Must do MPN for PLUS
PLUS loan
• Credit based loan held by biological or
adoptive parent
• Interest rate for 2014-15 is 7.21%
• May borrow up to COA less Financial Aid
• Repayment of the principal begins 60 days
after loan is fully disbursed
Parent PLUS Loan
Contact SFS
Other
Assistance
UCM
payment
plan
There is no paperwork to sign; all students are automatically on a payment plan when
charges begin accruing on their student accounts. If financial aid (defined as
grants/scholarships/loans) does not pay the balance in full, payment of at least 20% is
due each month. For the convenience of making monthly payments, a 1.5%
additional processing fee will be charged toward the unpaid balance beginning with
the third monthly installment.
• 529 Plans
• Third party bill payment
Formula:
•
UCM
payment
plan
Total Due – financial aid = balance due
Balance due ÷ 5 payments (3 for summer) = amount of 1st payment
Remaining original balance due + additional charges since first payment ÷ 4 (# of
payments remaining) = amount of 2nd payment
Remaining balance due + additional charges x 1.5% ÷ 3 = amount of 3rd payment, and
so on for 4th and final payments
How Can I See My Financial Aid?
• By email and mail
– Most correspondence is via UCM email account
• MyCentral portal
– Student only access with 700#
– Reset of password via our help desk
• Other FAQs are on www.ucmo.edu/contactsfs
What if I haven’t seen our aid yet?
• We haven’t received your FAFSA
• FAFSA is rejected
– Most common issues are signatures, selective
service or missing information
• Verification has not been completed
• Check status via MyCentral
When will we get our bill?
• Statement includes
–
–
–
–
Class fees/tuition
Housing/meal charges
Books
Financial Aid credits
• Bills available online
– www.mycentral.ucmo.edu
– Click on view and pay my bill on the Student Services
Tab
When will we get our bill?
• July 23 - Fall semester bills will be printed and
available in the MyCentral Billing and Payment
Center
• August 20 – Payment for the “Amount Due”
after aid is applied
– in full or 20% of “Amount Due” balance
Online Account Access
• Set up bank account info for payments and
refunds
• Direct deposit
– If students choose to not use direct deposit,
please note that checks are run on a specific
schedule and funds are mailed to the permanent
address
Online Billing
•
•
•
•
•
Review your bill
Make single immediate payment
Schedule future payments
Set up personal profile and authorized users
Students will receive only one paper bill per
semester
Viewing the Bill
Setting Up Text Alerts
Authorized user
Important Information
• Most aid is based on full time enrollment (12
or more hours), if you drop below 12 hours
some aid may be prorated or cancelled.
– State aid and scholarships are based on full time
– Pell grant is prorated
• Before you drop a class, talk to SFS and your
academic advisor
Central One Card
• Anyone with a valid UCM ID card can choose to use it
as a debit card on campus
– Central Cash
– Bookstore
– Meal points and meal plans
• Access to the following
–
–
–
–
Library card
Home sporting events
SGA Voting
Planner-Handbook distribution
• Not required to get your FA refund!
Contact SFS
• Located in Ward Edwards Room 1100
• Hours are 8-5 Monday-Friday during the school
year and 7:30-4:30 in the summer
• Phone 660-543-8266 or 1-800-SAY-UCM
– Fax 660-543-8080
• Other services
– Budgeting assistance
– Financial literacy
– Notary

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