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FINANCIAL AID ORIENTATION MAYMESTER 2015 Heather Thompson Assistant Director, Study Abroad Liaison to UT Office of Student Financial Services Cierra Campbell.

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Presentation on theme: "FINANCIAL AID ORIENTATION MAYMESTER 2015 Heather Thompson Assistant Director, Study Abroad Liaison to UT Office of Student Financial Services Cierra Campbell."— Presentation transcript:

1 FINANCIAL AID ORIENTATION MAYMESTER 2015 Heather Thompson Assistant Director, Study Abroad Liaison to UT Office of Student Financial Services Cierra Campbell Academic Records Coordinator Credit/Scholarship Administrator

2 PRESENTATION OVERVIEW 1. Program Costs 2. Timeline 3. Scholarships 4. Loans 5. Navigating OSFS 6. Questions

3 COMMON TERMS BUDGET The cost of the abroad program as determined by the study abroad coordinator; who submits it to OSFS on an agreed upon timeline. EFAN : Electronic Financial Aid Notification An from OSFS that guides the student to go online and claim an award package. AWARD PACKAGE Sum of the monies offered to the student; comprised of grants and loans. DISBURSEMENT The date in which the monies will be deposited into your bank account.

4 PROGRAM COSTS Maymester Total Cost UT Austin$13,011 +Maymester$ 6,355 Total$19,366

5 Original Award For Austin Adjusted Award Maymester Federal Pell Grant$2822 Texas Public Education Grant$1334 Partial Tuition Grant$644 University Tuition Grant$1500 Federal Perkins Loan$2000 Federal Work Study$1600 Federal Direct Subsidized Loan$2750 Federal Direct Unsubsidized Loan$361$2000 Federal Direct Parent Loan or Private Alternative Loan $4716 Award Total$13,011$19,366

6 TIMELINE SA Program Coordinator Submits to OSFS Budget Student registers for Maymester course(s) Registration Due by December 10 via What I Owe Deposit sent / student claims in CASH EFAN Student pays online by Jan 3 by 5pm Fee bill Regular funds for the spring disbursed Disbursement #1 Due by February 20 or defer online Program Fee Additional money disbursed, mid February Disbursement #2 Do not purchase until instructed to do so! Plane Ticket / Visa March 1 via My SAO Portal Forms Due November December January February Notes:  Registration must be correct - it is your responsibility  Fee bill to UT must be paid (most likely deferment option)  Maymester Program Fee must be paid (most likely deferment option) March

7 1.Direct Subsidized and Unsubsidized Loans 2.Direct Parent PLUS Loan 3.Private / Alternative Loans 4.Tuition Loans 5.Emergency Cash Loans LOANS – 5 TYPES Co-Signer Required

8 ScholarshipDeadlineAverage Award Amount Notification / Distribution IEFSOctober 1$1500Nov/Dec 25 th Anniv. MMNovember 1$2000Nov/Dec SA MaymesterNovember 1$2000Nov/Dec COLA MaymesterNovember 1$1000Nov/Dec Engin MaymesterNovember 4$1200Nov/Dec SCHOLARSHIPS Scholarships can be used to off-set loans or to make up for a deficit in an award package. Other Ideas:  Save  Work over holiday break or before departure  Micro lending – Fund My Trip or Fund My Travel.com  Birthday & Christmas

9 NAVIGATING OSFS https://utdirect.utexas.edu/faweb/cash/utdirect.utexas.edu/faweb/cash 1.Know what you currently get 2.Compare current award to cost of your program 3.Prepared to have a co-signer 4.Log into CASH weekly and click on 5.Read your 6.If you have questions before departure go in person or read FAQ 7.After departure direct concerns to your SA Program Coordinator

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11 NEXT STEPS – CHECKLIST  Check your Registration, fix during add/drops  Pay your deposit $500 by December 10  Claim revised EFAN  Plan for a co-signer  Confirm tuition bill by January 8  Arrange to pay for program fee by February 20  Wait for instructions to purchase plane ticket  Attend all orientation meetings!

12 QUESTIONS


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