Presented by: Office of Financial Aid MONEY MATTERS! THE OFFICE OF FINANCIAL AID IS LOCATED AT A4400 UNIVERSITY CENTER TALLAHASSEE, FL 32306 Office Hours 8:30 AM-5:00 PM PHONE – (850) 644-0539 FAX - (850) 644-6404 www.financialaid.fsu.edu Email: [email protected] FAFSA school code: 001489 MONEY MATTERS! What is financial aid? Who is eligible? How do you apply? Award types? How were my awards determined? How do I view my awards? How do I accept my awards? What about Scholarships and outside resources? Are JOBS available? What is the bottom line, How much should my check be? Financial aid tips! WHAT IS FINANCIAL AID? Money used to assist you with funding your education. WHO IS ELIGIBLE? Everyone! HOW DO YOU APPLY? Complete the Free Application for Federal Student Aid online at www.fafsa.ed.gov Early, January 1 (funds are limited) Renewal your application every January 1 A Federal Pin number is needed for electronic signature on the FAFSA for both student and parent. Apply at www.pin.ed.gov Estimated Tax information is accepted WWW.FAFSA.ED.GOV APPLICATION WEBSITES WWW.PIN.ED.GOV AWARD TYPES APPLIED FOR BY COMPLETING THE FAFSA? Federal Grants (financial need) Pell SEOG TEACH Federal Work Study (financial need) Federal Loans Perkins (financial need) Stafford State Grants (financial need) Subsidized (financial need) Unsubsidized FSAG First Generation (CARE STUDENTS ONLY) University Grants HOW IS MY APPLICATION PROCESSED? The federal processor collected all of your information provided on the FAFSA such as; you and your parent’s income, number of people in the household, number of students in college, etc. and established your Family’s Expected Contribution to your education cost. EFC HOW WERE MY AWARDS DETERMINED? The expected family contribution received from completing the FAFSA is subtracted from the students cost of attendance to determine the financial need. COA -EFC FINANCIAL NEED WHAT FAFSA DO I COMPLETE? Summer 2011 Fall 2011 and Spring 2012 2010-2011 FAFSA + FSU institutional summer financial aid application located on your financial aid student toolkit on blackboard 2011-2012 FAFSA Student/Parent Complete FAFSA ONLINE EFC is Determined SAR Data sent to schools Awards are posted Check your Status FSU Determines Awards student is eligible to receive Campus.fsu.edu under secure apps financial aid student toolkit HOW DO I VIEW MY AWARDS? Your financial aid status is available online through the FSU Blackboard system. Check it anytime, from anywhere that you have secure internet access. Follow these simple directions: Log on to Blackboard at http://campus.fsu.edu Select "Secure Apps" Located along the top furthest to the right. Select "Financial Aid Student Toolkit" Incoming and Prospective students who have applied for admission should log in using the FSUID provided during the admissions process. HOW DO I ACCEPT MY AWARDS? View your financial aid status via financial aid student toolkit READ Terms and Conditions for financial aid Check for outstanding documents Print and submit to the office of financial aid ASAP View & BUDGET Accept, Decline, or Reduce your awards You may contact our office for changes Click on SAVE CHANGES REMINDER!! 1 out of 3 students is selected for verification and will be required to submit additional documents to OFA, please submit documents ASAP. All awards are estimated pending the verification process and therefore are subject to change Your outside resources could affect your current awards, please report them via your student tool ASAP You must be enrolled in at least 6 credit hours to receive financial aid. You must have an Accounts Refund Setup completed to receive your financial aid, please complete this via your student toolkit. EFT is highly recommended! ACCEPTING LOANS? Accept loan via office of financial aid student toolkit Complete Loan Entrance Counseling Master Promissory Note www.StudentLoans.gov Federal Parent Plus Loan Complete: FAFSA (if not all ready of file) Direct Loan Federal Plus Loan Application online at www.studentloans.gov Direct Loan Master Promissory note for parents Parent Authorization Statement (must be on file before disbursement) For more details please visit our website. http://financialaid.fsu.edu/aid/loans/Plus.html WHAT ABOUT SCHOLARSHIPS AND OUTSIDE RESOURCES? Florida State University Scholarships Automatically reviewed when you applied for admissions to the university Private Scholarships Report to OFA via student’s financial aid toolkit Research will continue while you are enrolled FSU financial aid website at: www.finaid.fsu.edu Local organization (rotary clubs, Kiwanis clubs, fraternities, sororities, churches, and banks) Academic department of interest Ask other students Google Search WHAT ABOUT SCHOLARSHIPS AND OUTSIDE RESOURCES? Florida Bright Futures Scholarships Academic pays $101 per credit hour Medallion/Gold Seal pays $76 per credit hour Maintain a 2.75 cumulative GPA and complete 24 credit hours per year Offer amount based on 15 credits per term Maintain a 3.0 cumulative GPA and complete 24 credit hour per year actual payment based on enrolled hours All Classes dropped after drop and add MUST be REPAID Does NOT pay for Summer *Rates are based on 2011 legislative action – pending final action NEED A JOB? Federal Work Study Will be awarded via your financial aid file based on demonstrated financial need and available funds. Not Awarded Work Study Visit the FSU Career Center online job board at: http://www.career.fsu.edu Part-time job fair being held September 1, 2011 check the site for more details. YOU TELL US: WHAT ARE YOUR FINANCIAL AID AWARDS? How many hours are you taking? ______ What is your housing choice? ______ What is your dining choice? ______ How much is your health insurance? _______ How much are your books? _______ Bottom Line Total _______ HOW MUCH DO I WRITE THE CHECK FOR? FINANCIAL AID TIPS! Apply EARLY, January 1st using estimated tax info Check your financial aid status Submit requested documents ASAP Know YOUR Cost Set a realistic budget and stick to it Exhaust all other alternatives before borrowing Only borrow what you need Keep records of your loan debt www.nslds.gov Avoid credit card debt If financial circumstances change contact the office of financial aid Questions? OFA WILL BE AVAILABLE FOR QUESTIONS FROM 3:00-4:10!