2013 Financial Aid Workshop

AgendaAgenda8:30 Registration

9:00 Welcome – Valerie Miller, Director, Student Financial Aid and Scholarships

Opening Comments – Craig Cornell, Vice Provost for Enrollment Management

9:15 Overview of Financial Aid – Valerie Miller and Melissa Van Meter, Associate Director

Cost of Attendance Awarding

Scholarships Employment

Loans Satisfactory Academic Progress

Parent’s Page Corresponding with Our Office 

10:30 Q&A – Student Financial Aid, Residential Housing and Undergraduate AdmissionsScholarship Drawing and Door Prizes

11:30 FAFSA Presentation and Q&A

Campus Walking Tours: 11:30 – 1:00 and 1:30 – 3:00; Must be registered

Representatives from Residential Housing and Undergraduate Admissions will be available outside of the Ballroom during the FAFSA presentation.

Cost of AttendanceCost of Attendance

An individual’s cost to attend college will vary. Some costs are defined by your college, but others will depend on your specific needs and situation.

Cost of AttendanceCost of Attendance

• Are you a resident or non-resident?

• Will you live in the residence halls or commute from home?

• On which campus will you take most of your courses?

• How much will your books cost?

• How often will you need to do laundry?

Cost of AttendanceCost of Attendance

The Cost of Attendance is a comprehensive budget that answers these questions. It consists of:

– Direct Costs – paid directly to the college– Indirect Costs – estimated expenses

incurred, but not paid to the college

Cost of AttendanceCost of Attendance

• Direct Costs include tuition and standard fees/charges, residence hall costs, and meal plan costs.

• Indirect Costs include estimates for books and necessary supplies, transportation around campus and trips home, and miscellaneous personal expenses.

Cost of AttendanceCost of AttendanceThe following is an estimated Ohio University Cost of Attendance for an undergraduate attending full-time on the Athens campus for fall and spring semesters.

Semester Year Cost Description

Tuition/Fees $5,108 $10,216 Billed by Ohio University.

Residence Hall/Meal Plan $5,524 $11,048Billed by Ohio University. Actual amount

determined by housing choice

Books $443 $886Paid out-of-pocket based on course

requirements.

Transportation $869 $1,738 Allowance for travel needs.

Personal $516 $1,032 Allowance for personal needs.

Total Resident Cost $12,460 $24,920

Non-Resident Surcharge $4,482 $8,964 Billed by Ohio University.

Total Non-Resident Cost $16,942 $33,884

Cost of AttendanceCost of AttendanceThe cost of attendance is useful in estimating your semester bill and determining the amount you will owe the university. This will also determine the amount you may choose to apply for in additional loans. Below are some examples.

Semester Annually Semester Annually

Total Charges

$10,632 $21,264 COA $12,460 $24,920

Total Aid Offered

-$2,750

- $5,500Total Aid Offered

-$2,750

- $5,500

Out-of-Pocket

$7,882 $15,764Amount in additional resources

$9,710 $19,420

Cost of AttendanceCost of Attendance

To further assist you with your financial planning needs, feel free to use Ohio University’s Net Price Calculator located on our website.

Cost of AttendanceCost of AttendanceThe Net Price Calculator asks a series of questions to help determine

both your direct and indirect costs while attending Ohio University.

Cost of AttendanceCost of AttendanceThe Net Price Calculator summary displays an estimate of the direct and

indirect costs associated with attending Ohio University. Actual 2013-14 tuition costs will be finalized in late spring. The Net Price Calculator also estimates the amount and types of financial aid you may expect on your award letter.

AwardingAwarding• Ohio University begins awarding incoming freshmen

students in late March each year.• Federal, state, and institutional financial aid is awarded to

students whose FAFSA results have been received.• Students must provide any requested documentation to Ohio

University prior to awarding. • Award letters provide a summary of the types and amounts

of financial aid students have been awarded.• Greater detail, as well as award requirements, are found via

your Student Portal at http://my.ohio.edu.

AwardingAwardinghttp://my.ohio.edu

The Ohio University Student Portal is your one-stop site to access what you need to know as a student. You can customize your portal page to include information that is important to your student life, such as Advising Services, Arts, College Specific Information, and GPA services, just to name a few.

Additionally, the tabs across the top of the page direct you to your OHIO Student Center. The Academics tab that will link to your course enrollment as well as other useful information from the Office of the Registrar.

The Accounts tab is your source for financial aid and billing.

AwardingAwardinghttp://my.ohio.edu

AwardingAwardinghttp://my.ohio.edu

AwardingAwarding

AwardingAwarding

AwardingAwarding

AwardingAwardingYou should regularly check your Student Center To Do

List. Review all requirements by selecting “details”.

AwardingAwarding• Financial aid awarding is based on the best

information available to Ohio University at that time.• If you make changes to your FAFSA or Ohio

University updates your FAFSA based on requested documentation, your awards could change.

• The information requested on the 2013-2014 FAFSA is based on 2012 tax data.

AwardingAwarding• Families who experience changes in their financial

situation in 2013 can contact our office regarding our Change of Income process.

• Ohio University may be able to use your estimated 2013 tax data to reconsider your financial aid awards.

• The Change of Income application requests current and projected financial data.

• The online application opens in the summer. For access to the application, you must contact our office.

• Once the application is submitted online, you must mail the signature page along with required documentation.

ScholarshipsScholarships

• Application for Admission serves as the scholarship application for incoming freshmen

• Admission by February 1 guarantees consideration for most Ohio University scholarship opportunities, including the Gateway Award Program

ScholarshipsScholarships• Gateway Award Program

www.ohio.edu/admissions/gateway/

– Based on academic merit and financial need

– Academic merit determined by ACT or SAT and high school GPA

– Financial need determined by FAFSA

– Awards are renewable for up to four total years (two semesters per year) based on award renewal criteria such as GPA and/or need.

ScholarshipsScholarships• Awards to promote diversity at OU

www.ohio.edu/diversity/

– Programs offered by the Office for Multicultural Student Access and Retention (OMSAR)

• Templeton Scholars

• King/Chavez/Parks Award

• OU Incentive Award

ScholarshipsScholarships• Privately funded scholarships at OU

– Funded from endowments and other contributions by private donors

– Awarded based on guidelines in accordance with the donor’s wishes

– Selection criteria varies but may include geographical area of residence, high school attended, program of study, financial need, academic credentials, etc.

ScholarshipsScholarships• Outside sources for scholarship opportunities

– High school guidance office, local community, parent’s employer, clubs and organizations

– Web searches

• Fastweb.com

• https://bigfuture.collegeboard.org/scholarship-search

GrantsGrants• Institutional Grants

– Gateway Grant• Awarded based on combined merit and financial need

as part of the Gateway Award Program• Renewable for up to four total years (8 semesters) if

GPA and need are maintained– Ohio University Bobcat Grant

• Awarded based on financial need as part of the Gateway Award Program

– Ohio University Access Grant• Awarded based on financial need promoting diversity

GrantsGrants• Federal Grants

– Federal Pell Grant

• Eligibility determined by results from the FAFSA

• Awarded to students with high financial need

– Supplemental Educational Opportunity Grant (SEOG)

• Awarded to Pell eligible students with exceptional financial need

GrantsGrants• Teacher Education Assistance for College and Higher

Education (TEACH)

– Provides grants up to $4,000 per year to students who intend to teach in a high-need field in a public or private elementary or secondary school that serves low income students.

Student EmploymentStudent Employment

• Federal Work Study

• PACE

• Student Hourly Employment

Student EmploymentStudent Employment

• Federal Work Study

– FWS is a need-based student employment program.

– Eligibility is determined by Ohio University based on the results of a student’s FAFSA.

– FWS is listed as an award on a student’s award letter.

– Students select a FWS position online.

Student EmploymentStudent Employment

• Program to Aid Career Exploration (PACE)

– Apply online during spring semester of your freshmen year.

– Must demonstrate a “need for earnings”.

– Students work across campus obtaining internship-like experience.

Student EmploymentStudent Employment

• Student Hourly Employment (SHE)

– Available to all enrolled students.

– Job postings are found on the Ohio University Human Resources website.

– https://www.ohiouniversityjobs.com

Student EmploymentStudent Employment

• Benefits of Student Employment

By participating in student employment opportunities, students can:

• Earn money to help meet college expenses• Learn time management skills• Meet new people• Gain valuable work experience• More easily adjust to college life• Feel more connected to the University and community

LoansLoans

Federal Loan Programs

•Federal Perkins Loan

•Federal Direct Loan Program• Subsidized Loan (Stafford)• Unsubsidized Loan (Stafford)• Parent PLUS Loan

LoansLoans• Federal Perkins Loan – Subsidized loan awarded to

high need students. Limited funds available.• Federal Direct Subsidized Loan – Awarded to any

eligible student with financial need. No interest accrues while enrolled.

• Federal Direct Unsubsidized Loan – Awarded to any eligible student. Interest accrues while enrolled.

• Federal Direct Parent PLUS Loan – Available for parents of dependent students.

LoansLoans

Federal Direct Loan Amounts•Freshmen:

– Total of $5,500 (maximum of $3,500 subsidized)

•Sophomores:– Total of $6,500 (maximum of $4,500 subsidized)

•Juniors/Seniors:– Total of $7,500 (maximum of $5,500 subsidized)

LoansLoans

Federal Direct Loan Requirementswww.StudentLoans.gov

•Entrance Loan Counseling•Electronic Master Promissory Note

LoansLoanswww.StudentLoans.gov

LoansLoans

Federal Direct PLUS Loan

•Parent Loan for Undergraduate Students•Parent is responsible for repaying the loan.•Cannot be transferred to student.•Payment can be deferred until after student graduates.

LoansLoans

Federal Direct PLUS Loan

•Maximum amount is determined by subtracting student’s total financial aid from the Cost of Attendance. For example:

$24,920 (Cost of Attendance) - $5,500 (Student Aid)

= $19,420 (Maximum PLUS)

LoansLoansFederal Direct PLUS Loan

•Complete PLUS Request Process and Master Promissory Note at www.StudentLoans.gov

LoansLoansAlternative Loan Program

•Loans through Private Lenders•Students should apply with a credit–worthy cosigner.•Loans carry a 6 month grace period for repayment•Lenders are offering fixed and variable rate options.

Satisfactory Academic ProgressSatisfactory Academic Progress

In order to receive financial aid, you must be meeting Satisfactory Academic Progress (SAP). The definition of SAP has three components:

•Grade Point Average (GPA)•Minimum Completion Percentage (MCP)•Maximum Timeframe (MTF)

Satisfactory Academic ProgressSatisfactory Academic Progress• GPA – The minimum GPA a student is required to

achieve as a freshman is 1.75. Following your freshman year, you must maintain a 2.00.

• MCP – Students must earn passing grades in at least 67% of the courses in which they enroll.

• MTF – Undergraduate students may be considered for aid until reaching 180 semester hours.

Satisfactory Academic ProgressSatisfactory Academic Progress• A student who is found to be deficient in one or more

components is ineligible for further financial aid for the next school year.

• A student who is ineligible has the right to appeal if there are extenuating medical circumstances that contributed to the deficiency.

• Students who successfully appeal will be considered for financial aid for one term on a probationary basis or be extended on an academic plan.

Parent’s PageParent’s Page

Parent’s PageParent’s Page

Parent’s PageParent’s Page

Corresponding with Our OfficeCorresponding with Our Officefinancial.aid@ohio.edu740-593-4141 Phone740-593-4140 Fax

QuestionsQuestions

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