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Welcome To Everything you ever wanted to know about financial matters but were afraid to ask.

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Presentation on theme: "Welcome To Everything you ever wanted to know about financial matters but were afraid to ask."— Presentation transcript:

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2 Welcome To Everything you ever wanted to know about financial matters but were afraid to ask

3  FERPA (privacy act)  Make sure that your son/daughter fills out the waiver form so that we can discuss student info with you  Neumann address  Students “must” use their address  Instructors students through Neumann  Departments students through Neumann  Parent address -- we need it!  Resident student mail boxes check them daily

4  Everyone! Everyone! Everyone!  Anyone who does not want to pay in full for their student’s tuition!  Did we mention EVERYONE ???  IT’S ABSOLTELY FREE !!! Who should apply for a FAFSA?

5  Determines your eligibility for need-based aid  First step in allowing you to apply for a Federal Direct Student Loan  Allows you to apply for internal grants and scholarships  Allows you apply for external grants and scholarships

6   The Personal Identification Number (PIN) serves as your identifier to let you access your personal information   not  not  Both the student and the parent must obtain their own unique PIN  Neumann’s Federal School Code is

7  You must choose whether or not to transfer data to the FAFSA.  Participation is voluntary but will expedite the processing of financial aid.  The process reduces the amount of documents requested by financial aid office.  Offices can no longer accept a copy of tax returns in most cases.  Tax transcripts from the IRS are required for verification.  You may request a copy of your tax transcript at Call the IRS at with any questions

8  33% chance of being selected by the government or institution  Financial Assistance Office requires the following  Student/parent to complete Verification Worksheet  Student /parent must obtain tax transcripts for the IRS which can be obtained at Call the IRS at with any questions.  FINANCIAL AID AWARD CANNOT FINALIZED UNTIL VERIFICATION PROCESS IS COMPLETED!!!

9  Know your state grant deadlines Delaware – April 15 th or DDOEDDOE (Delaware Department of Education) Pennsylvania – May 1 st or pheaa.orgpheaa.org (Pennsylvania Higher Education Assistance Authority)

10  FREE MONEY FROM THE GOVERNMENT  Federal Pell  SEOG (Supplemental Educational Opportunity Grant)  State Grant  Federal Work Study

11  Funds are earned by working in a campus department  Award is not deducted from your tuition bill  Students can work no more than 8-10 hours per week, depending on department needs  Students are paid bi-weekly  Original documents that may be submitted for application : Driver’s License Birth Certificate Social Security Card Photo Student ID Card

12  Federal Direct Student Loans (guaranteed loans)  Subsidized (government pays the interest while in school) estimated interest rate 6.8%  Unsubsidized (option to pay interest or capitalize while in school) estimated interest rate 6.8%  This requires a Master Promissory Note (MPN) signed using your 4 digit FAFSA pin  Apply through

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14  An entrance interview must be completed by the student loan funds can be processed to their tuition account  Once the entrance counseling is completed, the student must sign a Master Promissory Note (MPN)  An MPN is signed by using the student’s 4 digit FAFSA pin  Complete both of these at: 

15  Parents may apply for a Plus Loan at  Estimated interest rate 7.9% with a 4% origination fee  Credit check is required  If credit is denied, student is eligible for additional unsubsidized portion of Direct Loan  Repayment starts 6 months after the first disbursement  Parent may defer payments while student is in school (up to six months after student leaves school)

16  A private loan that is based on credit  Most need a credit-worthy co-signer, doesn’t have to be the parent  Private loans have both tiered and fixed interest rates  The better the credit rating, the better the interest rate  Repayment begins after a 6 month period of separation  Can defer interest while in school  Can pay on entire loan while in school  Co-signer is responsible for loan if student does not pay  After consecutive, on-time payments, co-signer can be released from payment obligations  Co-signer must contact lender and request release  website to use for comparisons

17 Commuter (12 to 19 credits) Undergraduate Tuition – Full-Time (per semester) Tuition$11, General Fee SGA Fee Technology Fee Total per semester$12,116.00

18 Resident Undergraduate Tuition – Full-Time (12 to 19 credits) Tuition$11, General Fee SGA Fee Technology Fee Room 3, Board (19 meal plan) 2, bonus points Total per semester $17,651.00

19  14 DAYS TO REFUND  PLUS Loans  RESIDENT STUDENTS – delivered to mailbox ◦ Make it a habit to check student mailbox daily  COMMUTER STUDENTS – mailed home ◦ Have permission from student to open their Neumann University mail

20  Business Office Payment Plans  Higher Education Services (10 month payment plan)  June to April - $60 annual fee (includes life insurance)  Deferral Plan ($40/per semester)  ¼ first paymentAugust  ¼ second monthSeptember  ¼ third monthOctober  ¼ final monthNovember  Repeats for the next semester  see brochures for details

21  E-COMMERCE ◦ PAY for Tuition on-line  24/7 THROUGH WEB-ADVISOR ◦ Credit card OR Electronic Check ◦ NO SERVICE CHARGE ◦ All you need to LOG ON is your: son/daughter’s ID AND PASSWORD ◦ PASSWORD – DEFAULTS TO BIRTHDATE

22 STUDENT MEAL PLANS New Freshmen Resident Students: Mandatory for first year - 19 Meal Plan (110 bonus points) ◦

23  15 Block Plan: 15 meals$  30 Block Plan: 30 meals$  50 Block Plan: 50 meals$  30 Superblock Plan: 30 meals$ Plus $ bonus points  50 Superblock Plan: 50 meals$ Plus $ bonus points

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25 Purchase meals Knights Café, Crossroads Bookstore Books, clothes, supplies (everything) Laundry

26 Fall Semester  Bills will be mailed beginning of July  Payment due date – Monday, August 6 th  Classes begin – Monday, August 27th

27  Fall textbooks available online- around June 15th  Used books, and Rental Books are first come-first served  Go to the Neumann University website  Student Life Campus Store

28  The Campus Store boxes up all your textbooks for you.  Pick up your books as early as the second week in August. or  Visit the Campus Store during Freshmen orientation weekend to pick up your books.  The receipt for your purchases will be in your box.  It is VERY IMPORTANT to keep your receipt, in case you need to return or exchange a textbook for any reason.

29  If you prefer to visit the Campus Store to purchase or rent your textbooks, we suggest you visit the second week in August to insure that all your books will be available in the store.  Summer hours of operation: Monday Thru Thursday 8:30-5:00 Friday 8:30-4:00  The store is initiating a Customer Loyalty Program in the Fall. Students will be rewarded for their patronage. Any student reserving books on line will automatically be signed up for the Customer Loyalty Program.

30  Business Office use “site map” – “Business Office” (Business Office appears on left hand side) Financial Assistance Office use “site map” - “Admissions” to “Financial Assistance” Web-Advisor use “jump to” – “Web-Advisor” Student log-on – right hand side

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