Presentation on theme: "Financial Aid You can’t afford to miss this! New Student Orientation 2014."— Presentation transcript:
Financial Aid You can’t afford to miss this! New Student Orientation 2014
Color Coded Happiness: You received a half-slip indicating where you are in the process: Blue, Red, Yellow, Green, Orange By understanding the colors, you will understand the process.
BLUE : You have not applied for Federal Aid It isn’t too late! www.FAFSA.gov It is a FREE application IRS Data Retrieval
Red : Additional documentation is needed to award you Federal Aid Visit your PAWS account for any “To Do” items Processing time frames vary Verification, Selective Service, Citizenship
Yellow : Your Financial Aid is in process Watch your PAWS account
Green : Congratulations!!! You have been awarded Federal Aid You must accept your federal aid within 30 days of being awarded on your PAWS account Now What?! Electronic Consent
Orange : You were awarded but did not accept with in the 30 day window Email our office at: email@example.com@uwm.edu What should you do? OR visit us tomorrow to request your funding back
Your Financial Aid Gift Aid Grants or scholarships: funding that does not have to be repaid Self Help Aid Federal Work Study: Work and pay for school; does not have to be repaid. Federal Loans: funding that must be repaid after you finish school
Federal Direct Loans Subsidized Fixed interest rate of 4.66% No interest Unsubsidized Fixed interest rate of 4.66% Interest while in school For both loans, repayment begins after graduation or the student stops attending at least half time
Master Promissory Note and Entrance Loan Counseling All first time borrowers must complete this process at: www.studentloans.gov
Timely disbursement of Aid Must accept aid Earliest payment is 10 days prior to first day of classes August 23 rd Must report any outside resources: – Scholarships, DVR Must notify us if taking less than 12 credits Must complete MPN and ELC
Everything you need in one spot: www.financialaid.uwm.edu – Ask the Panther – The student handbook – PAWS tutorial – Presentations and Handouts
Academic Progress Students are obligated to make progress towards a degree To measure that progress you are given a certain timeframe to complete your degree in (180 credits) with a 66.67% completion rate. Dropping and failing classes impact this progress Read the handbook for specific details
Third Party Access You will be able to grant access your PAWS Account.
Questions? Department of Financial Aid, Student Employment and Military Education Benefits 2442 E. Kenwood Blvd Mellencamp Hall, rm 162 PO Box 469 Milwaukee, WI (414)229-4541