Money Matters Summer 2015 New Student Orientation Presented by the Office of Student Financial Aid...
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Transcript of Money Matters Summer 2015 New Student Orientation Presented by the Office of Student Financial Aid...
![Page 1: Money Matters Summer 2015 New Student Orientation Presented by the Office of Student Financial Aid Services & Bursar’s Office.](https://reader036.fdocuments.us/reader036/viewer/2022062721/56649f215503460f94c3994f/html5/thumbnails/1.jpg)
Money Matters
Summer 2015 New Student Orientation
Presented by the Office of Student Financial Aid Services &
Bursar’s Office
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Financial AidDiscussion Items
Financial Aid Timeline
Financial Aid and the Fee Bill
Student Loan Process
Wrap-Up
Topics
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January - FebruaryComplete Free Application for Federal
Student Aid (FAFSA)
April - JulySubmit all requested documents in a
timely manner
Financial Aid Timeline
You are
here
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Fee Bill
Federal Direct Stafford Loan
Federal and University
Grants
University Scholarships
Outside ScholarshipsPrivate
(Alternative) Loan
Federal Direct PLUS Loan
Financial Aid and the Fee Bill
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Financial Aid Shopping Sheet
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Undergraduate Loans at a Glance
Program Borrower Credit Check
Required?
Interest RateAs of
7/1/15
Repayment Begins
Federal Perkins Loan Students with financial need
No 5.00% Nine months after graduation
Federal Direct Subsidized Stafford
Loan
Students with financial need
No 4.29% Six months after graduation
Federal Direct Unsubsidized Stafford Loan
Students No 4.29% Six months after graduation
Federal Direct PLUS Loans
Parents Yes 6.84% Sixty days after second
disbursement unless deferred
Private/Alternative Loans
Students with a creditworthy
cosigner
Yes Variable or fixed; usually depend on borrower and cosigner credit
scores
Varies by loan product
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Applying for Federal DirectStafford Loans
1 •Via the Student Administration System, the student reviews and accepts all or any portion of the Federal Stafford loan(s)
2 •The student completes Master Promissory Note online•http://www.studentloans.gov
3 •The student completes Entrance Counseling online•http://www.studentloans.gov
The process for applying for Federal Direct Subsidized and Unsubsidized Stafford Loans is as follows:
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Federal Direct Parent Loans for Undergraduate Students (PLUS)
Student accepts PLUS eligibility through Student Administration Self Service
Parent completes an online application via www.studentloans.gov
Online process became available for the 2015-2016 academic year on April 1, 2015
Credit check will be performed by the US Department of Education
Applying for Federal Direct Plus Loans
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• Consider Federal Perkins, Stafford, and PLUS loans before applying for a private loan
Private/Alternative Student Loans
Better Interest Rates Federal loan interest rates are fixed
No credit checks for Perkins and Stafford
Less-stringent credit criteria for PLUS
Repayment Options Forbearance options
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Wrap-Up
Working On Campus
Scholarship Information
Appeals
On-Time Deadline Reminder
FERPA
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Office of Student Financial Aid Services
The Office of Student Financial Aid Services is open 12 months a year; Monday through Friday, 8am - 5pm.
You may contact us by:• Email - ([email protected])• Telephone – (860) 486-2819• In Person – On a walk-in basis.
http://financialaid.uconn.edu
@UConnFinAid
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Fall 2015 • Bills are posted online and email
notifications were sent out June 15th
• Due Date: August 1, 2015
Spring 2016• Bills are posted online and email
notifications are sent out in late November
• Due Date: January 8, 2016
University Fee Bills
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University Fee Bills• Live Bill- Updated
daily with charges• Charges are posted
from:• Residential Life• Dining Department• Health Services• Parking
Department
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University Fee Bills
• Waiving Health Insurance– Waiver available
June 1st - September 15th
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Student View
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Become an Authorized User• Student must give others access to view and pay the bill
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Authorized User View
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Methods of Payment
• Electronic Check online• Credit Card online (2.75% convenience fee)
- VISA, Mastercard, Discover, American Express, JCB, BC Card, DinaCard, and Diner’s Club
• Mail in a check• Pay in person with check/cash
• Payment Plan• $45 enrollment fee, must re-enroll each semester• Fall Semester: July 15th , August 15th , September 15th , &
October 15th • Spring Semester: December 15th , January 15th , February 15th ,
& March 15th
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Refunds
• Refunds are written when:• Financial Aid is processed and disbursed• Enrollment matches financial aid package• Fee bill is paid in full
• Parent Plus Loan Refunds- Written to whomever took out the loan, and mailed home
• Direct Deposit for Students!
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Late Payments
• Hold on account• Cannot enroll in courses, go to the gym, take out library
books, request a transcript
• Late fees (Up to $150 each semester)
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For news and important information from the Office of the Bursar…
Follow us on Twitter@UconnBursar
Follow us on Instagramuconnbursar
Like us on FacebookUCONNBURSAR
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Q & A