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LEAVE THIS SPACE CLEAR Presented by: University Scholarships & Financial Aid Services (USFAS) LEAVE THIS SPACE CLEAR Money Matters: Part 1: Financial Aid.

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Presentation on theme: "LEAVE THIS SPACE CLEAR Presented by: University Scholarships & Financial Aid Services (USFAS) LEAVE THIS SPACE CLEAR Money Matters: Part 1: Financial Aid."— Presentation transcript:

1 LEAVE THIS SPACE CLEAR Presented by: University Scholarships & Financial Aid Services (USFAS) LEAVE THIS SPACE CLEAR Money Matters: Part 1: Financial Aid Process for First Year Students

2 LEAVE THIS SPACE CLEAR Money Matters Session Goals Two part presentation: University Scholarships & Financial Aid Services (USFAS) Goal-Help you understand the financial aid process at USF, provide tools for your students to monitor their application and explain how they receive aid University Controllers Office (Student Financial Services) Goal-Help you understand what your student owes, when and how to pay

3 LEAVE THIS SPACE CLEAR Agenda-Money Matters Part 1 USFAS website to understand the financial aid process, policies and more… Using OASIS to find answers and monitor your students financial aid status… Florida Bright Futures Deferments Tools to help students budget for college costs

4 LEAVE THIS SPACE CLEAR Agenda-Money Matters Part 2 Presented by Student Financial Services – Using OASIS to see what your student owes and how to pay the bill – Important Payment Information – How Financial Aid Pays Your Students Bill – Florida Pre-Paid

5 LEAVE THIS SPACE CLEAR

6 LEAVE THIS SPACE CLEAR Estimated Cost of Attendance (fall and spring) Based on Costs Tuition…………………………………… $5,200 (15 credit hours/semester) Room/Board…………………………………………………………………….…$9,000 Books……………………………………………………………………………….…$1,500 Personal……………………………………………………………………… …….$2,500 Transportation……………………………………………………………………$1,600 Total for Florida Residents………………………………………………….$19,800 Non-Resident Tuition Fee…………………………………………………..$10,810 Total for Non-Residents………………………………………………………$30,610 *Tuition rate is currently $ per credit hour plus $37 flat fee per semester *Non-resident fee is currently $ per credit hour plus $37 flat fee per semester *Final tuition rates will be available late July 2011

7 LEAVE THIS SPACE CLEAR OASIS: Answers your students questions 24/7!

8 LEAVE THIS SPACE CLEAR OASIS Main Menu

9 LEAVE THIS SPACE CLEAR Select the aid year you wish to view: 1011 for summer, 1112 for fall/spring Financial Aid Year Selection Menu

10 LEAVE THIS SPACE CLEAR Financial Aid Main Menu

11 LEAVE THIS SPACE CLEAR Florida Bright Futures Scholarships

12 LEAVE THIS SPACE CLEAR Florida Bright Futures New for ! All Bright Futures recipients must complete the Free Application for Federal Student Aid (FAFSA)

13 LEAVE THIS SPACE CLEAR Florida Bright Futures (continued) Florida Academic Scholars- $101 per credit hour Florida Medallion Scholarship- $76 per credit hour Gold Seal Vocational Scholars- $76 per credit hour Your student will receive Bright Futures even if they have other types of aid that pay tuition & fees, including Florida Pre-Paid plans

14 LEAVE THIS SPACE CLEAR Students must repay the university for any courses dropped or withdrawn from that were paid with Bright Futures funds Florida Bright Futures, continued

15 LEAVE THIS SPACE CLEAR Example: Academic Scholars recipient – If student is registered for 15 credit hours; – Academic Scholars will pay (15x101=) $1,515; – If one 3 credit hour course is dropped, the student will owe USF (3x101=) $303; AND – Will not meet renewal requirements for the next school year until USF has been repaid Florida Bright Futures, continued

16 LEAVE THIS SPACE CLEAR Report Funds From Other Sources Financial aid must be reduced if the student receives more aid than the cost of attendance If your student expects funds not listed on the award notice, notify us immediately using the Additional Resources tab in OASIS Students will receive an reminder in June

17 LEAVE THIS SPACE CLEAR Tuition & Fee Deferments

18 LEAVE THIS SPACE CLEAR Tuition is due at the end of the fifth day of classes each term Financial aid is paid on the sixth day of classes after your students enrollment is confirmed Without a tuition deferment, the tuition payment would be late & the students classes would be cancelled Why a Tuition Deferment is Important

19 LEAVE THIS SPACE CLEAR Tuition Deferments Tuition Deferments for financial aid recipients – Automatically provided if the student has Bright Futures and/or a USF scholarship or if a FAFSA is on file by the deadline announced on the USFAS website – Prevents cancellation for non-payment – After registration, check OASIS; remember check each term – Temporarily prevents a late payment fee – Provides temporary extension to pay tuition

20 LEAVE THIS SPACE CLEAR HOUSING DEFERMENTS

21 LEAVE THIS SPACE CLEAR – Automatically provided for in-state residents if the student has $4,750 in financial aid for the semester – Automatically provided for non-Florida residents if the student has $12,200 in financial aid for the semester – After your student receives their room assignment, check OASIS to see if the student qualifies – Allows your student to move in without paying the first months rent – Provides temporary extension to pay housing charges Housing Deferments

22 LEAVE THIS SPACE CLEAR MEAL PLAN DEFERMENTS

23 LEAVE THIS SPACE CLEAR Meal Plan Deferments – Automatically provided for in-state residents if the student has $6,875 in financial aid for the semester – Automatically provided for non-Florida residents if the student has $14,200 in financial aid for the semester – After your student receives their room assignment and has completed the meal plan contract, check OASIS to see if the student qualifies – If the student is eligible for the meal plan deferment, a $50 administrative fee is due by August 3, 2011, paid to USF Dining in MSC 1502 or online at – Provides temporary extension to pay meal plan charges for the semester

24 LEAVE THIS SPACE CLEAR Take 15!..credit hours each semester

25 LEAVE THIS SPACE CLEAR Did you know that…. every semester a student extends their enrollment, he/she will be adding about $9,900 to the cost of their degrees! …if your student withdraws from one 3 hour course each semester, he/she will have to enroll for at least one more year at a cost of $20,000! …in addition to the cost of the degree, your student will lose wages of $41,000 per year (median income for 2006 college graduates per the National Center for Educational Statistics). …if your student completes two-thirds or less of the courses attempted, it will take two additional years to graduate and two years of lost wages. The price tag: $120,000! Talk with your student so they understand the financial implications before dropping a class!

26 LEAVE THIS SPACE CLEAR Staying eligible for aid means: not enrolling in classes that are not needed for his/her degree program having a 2.0 GPA by the time he/she is in junior standing completing at least 67% of the courses in which he/she enroll attaining a bachelors degree in less than 180 hours attempted FINISH WHAT THEY START! Things for your student to consider as they enroll in classes

27 LEAVE THIS SPACE CLEAR Repaying Bright Futures for dropped courses Reaching the 120 credit hour limit on Bright Futures and not having a degree Being able to enroll but losing aid for low completion ratio (67%) or low GPA (less than a 2.0) Paying excess hours charges for credit hours attempted over 144 Paying repeat course surcharges if a course is taken for a third time Impact of Enrollment Decisions

28 LEAVE THIS SPACE CLEAR Financial aid awards may include student loans which have: – Low interest rates – Deferred repayments Borrow only what is needed! Use our cost calculators! Be a Smart Borrower

29 LEAVE THIS SPACE CLEAR Use our cost calculators to determine actual costs and budget wisely! Cost Calculators

30 LEAVE THIS SPACE CLEAR Financial Literacy 101 Required course for all first time college students Complete the module before school starts in the fall Access via BlackBoard-`Life Skills for Student Success Designed to give students basic financial management information – Credit card use – Financial aid (including student loans) – Budgeting

31 LEAVE THIS SPACE CLEAR Next Steps Make sure your student registers for classes! Complete any outstanding unsatisfied financial aid requirements Read and accept T&C and accept awards Complete the online MPN & online Entrance Counseling if loans are accepted Make sure your student pays close attention to s and keep his/her address current in OASIS Sign up for eDeposit in OASIS Notify UCO of 3 rd party payments (others paying tuition on the students behalf) Make sure the student pays his/her bill by the deadline if not receiving a deferment Review this presentation on our website (www.usf.edu/finaid)www.usf.edu/finaid

32 LEAVE THIS SPACE CLEAR THANK YOU!


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