Presentation on theme: "Financial Aid and Scholarships. finaid.txstate.edu What is Financial Aid? Funds used to supplement rather than replace financial contributions of the."— Presentation transcript:
finaid.txstate.edu What is Financial Aid? Funds used to supplement rather than replace financial contributions of the family.
finaid.txstate.edu Complete Your Free Application for Federal Student Aid (FAFSA) www.fafsa.ed.gov
finaid.txstate.edu Apply for Your Personal Identification Number (PIN)
finaid.txstate.edu Financial Aid Application Process Student Federal Processor Financial Aid Office Priority Deadline April 1st
finaid.txstate.edu Requests for Documentation 30% of all students are randomly selected for verification. If selected, you will be required to submit a copy of tax returns and other documents as needed. Do not send documents unless we request them. Keep a copy of all the documents you submit. Respond in timely fashion to any requests for information from Financial Aid and Scholarships office.
finaid.txstate.edu Expected Family Contribution (EFC) Adjusted Gross Income Taxes paid Number in college Number in household Assets Age of oldest parent Tax form filed Dependent vs. independent
finaid.txstate.edu Dependent vs. Independent Born before January 1, 1986 Working on a master’s or doctorate degree Married (as of date FAFSA is filed) Have children or other dependents you support Both parents are deceased Ward/dependent of the court Active duty U.S. Armed Forces Veteran of the U.S. Armed Forces Homeless criteria
finaid.txstate.edu 2009-2010 Cost of Attendance Tuition and fees$ 6,990 Room and board$ 7,310 Books and supplies$ 1,050 Travel expenses$ 950 Miscellaneous costs $ 2,670 Total Budget Direct & Indirect Costs $18,970 Direct Costs Total $15,350 Indirect Costs Total $ 3,620
finaid.txstate.edu Financial Need Calculation Cost of Attendance $18,970 Expected Family Contribution (EFC) -$ 8,970 Financial Need $10,000
finaid.txstate.edu Types of Awards Federal Grants State and Institutional Grants Student Work Student Loans
finaid.txstate.edu Grants ProgramMax. Annual Award Pell Grant $5,350 Supplemental Educational Opportunity Grant $2,000 Leveraging Education Assistance Partnership $2,000 TEXAS Grant $6,080 Texas Public Educational Grant $2,400 GPD Grant $1,000 Texas State Tuition Grant $2,200 SMART Grant Jr. - $4,000 Sr. - $4,000 Academic Competitiveness Grant Fr. - $750 So. - $1,300
finaid.txstate.edu Work Study Need-based Maximum Annual award of $3,500 Work on campus 15 hours per week Bi-monthly pay checks Builds résumé Community-service positions available Jobs4Cats found at careerservices.txstate.edu
finaid.txstate.edu Federal Direct Student Loans Grade Level DependentIndependent Total Maximum Subsidized Maximum Unsubsidized Additional Unsubsidized Freshman$3,500$2,000$4,000$9,500 Sophomore$4,500$2,000$4,000$10,500 Junior$5,500$2,000$5,000$12,500 Senior$5,500$2,000$5,000$12,500 Subsidized Need-based Do not accrue interest while in school Unsubsidized Non need-based Do accrue interest while in school
finaid.txstate.edu Direct Loans for Parents ProgramApplicationEligibilityMax Award Federal Direct Parent Loan Paper Application – Parent Loan Information Sheet Requires a credit check Maximum loan amount is the cost of attendance less other aid the student receives Repayment begins 60 days after 2 nd disbursement Fall & spring loans – March Fall only loans - October Deferments are available Contact Direct Loans at 800-848-0979
finaid.txstate.edu Private Loans ProgramApplicationEligibilityMax Award Private Loans Apply through lender Requires a credit check and/or guarantor Maximum loan amount is the cost of attendance less other aid the student receives Private lenders have their own criteria for eligibility. A list of points to consider is available on our web-site under Types of Aid clicking on Alternative Loans.
finaid.txstate.edu Other Aid Programs Merit Based Scholarships Competitive Scholarships New Initiatives
finaid.txstate.edu ScholarshipAwardAnnualEligibility Criteria National Merit Scholarship $40,000$10,000 National Merit Finalist Select Texas State as college of choice National Achievement Scholarship $8,000$2,000 National Achievement Finalist Select Texas State as college of choice 1200+/27+ SAT/ACT Top 15% or IB Diploma National Hispanic Scholarship $8,000$2,000 National Hispanic Scholar as designated by the College Board via the National Hispanic Recognition Program 1200+/27+ SAT/ACT Top 15% or IB Diploma National Scholarships These scholarships are guaranteed to all students admitted by May 1 st who meet the minimum requirements Students must be U.S. citizens or permanent residents. Non-Texas residents receiving any of the above qualify to pay the in-state tuition rate.
finaid.txstate.edu ScholarshipAwardAnnualEligibility Criteria President’s Honor Scholarship $20,000$5,000 1400+/32 +SAT/ACT Top 15% or IB Diploma Texas State Achievement Scholarship $10,000$2,500 1300-1390+/29-31+ SAT/ACT Top 15% or IB Diploma These scholarships are guaranteed to all students admitted by May 1 who meet the minimum requirements. Students must be U.S. citizens or permanent residents. Non-Texas residents receiving any of the above qualify to pay the in-state tuition rate. Assured Scholarships
finaid.txstate.edu Competitive Scholarship Deadlines www.applytexas.org Freshmen December 1 Must complete essays B & C All Others March 1 Complete one essay
finaid.txstate.edu Bobcat Promise Program Begins Fall 2009 For first-time freshmen Requires reported adjusted gross family income of $25,000 or less Covers up to 15 hours per long semester of tuition and fees www.finaid.txstate.edu/bobcatpromise
finaid.txstate.edu Top 10% Scholarship $2,000 one-time, first semester award Top 10% of graduating class Complete Recommended Curriculum or higher Texas resident Complete FAFSA by April 1 Enroll full-time at a public college in fall 2009 Have financial need
finaid.txstate.edu CatsWeb Check Status View awards View disbursements
finaid.txstate.edu Release of Student Aid Information Federal Educational Rights and Privacy Act (FERPA) Release form required to allow parent or spouse access E-mail inquiries must be sent from Texas State email address
finaid.txstate.edu Timeline Now – FAFSA available online for 2009-10 March 1 – Transfer scholarship deadline March 1 – Summer financial aid application deadline March/April – begin emailing award notices and requests for additional documentation April 1 – FAFSA priority deadline April 1 – Freshman scholarship notices are mailed
finaid.txstate.edu Financial Aid and Scholarships JCK Office Hours: Summer: M-F 8am-5pm Fall/Spring: MWThF 8am-5pm Tuesday 11am-6:00pm LBJSC Satellite Office Hours: Fall & Spring Semesters ONLY Tuesday 8am-11am 512-245-2315
Financial Aid and Scholarships is Open Today until 1pm We are located in 240 J.C. Kellam Building at the bottom of campus, across from Sewell Park. Just walk down the hill.