CBS Financial Aid Orientation

Staff ShaToi Newell, Financial Aid Advisor Services Financial aid awarding Federal aid and Institutional Aid Office Hours Monday, Tuesday, Thursday 8:30am-7:30pm Wednesday 8:30-6:00 pm Phone: Financial Aid Office

 Financial aid is a form of assistance of funds provided to eligible students and families to help assist with paying for educational expenses. Pell Grant: A Pell Grant is money the government provides for students who need it to pay for college. Grants, unlike loans, do not have to be repaid. Eligible students receive a specified amount each year under this program. Loans: The interest on subsidized loans is paid by the federal government while the student is in school and during authorized deferment. For unsubsidized Stafford Loans, students are responsible for all of the interest that accrues while the student is enrolled in school.  Scholarship Availability- CBS offers Institutional Aid called the Boyd/Mays Scholarship What is Financial Aid

Federal aid  Have a high school diploma, GED or equivalent  Be admitted in the Associates or Bachelors Degree Program  Be a US citizen or eligible non-citizen  Not be in default on any federal student loan, or owe money on federal student grant Institutional aid  All of the above  Awarded based on meeting SAP  Can also receive if in Bible Certificate Program Eligibility for Financial Aid

Types of Financial Aid at CBS Pell Grant & Scholarships  Does not have to be paid back  Awarded based on need and enrollment  CBS scholarships and Pell Grant awarded based on meeting SAP standards and enrollment Loans  Loans are money you pay back  Repayment usually begins after education is finished  You must be enrolled at least half time (6 credit hours)  You must not be in default

 Web site:  Can apply every January 1 st for the upcoming award yr.  FAFSA becomes available on January 1, 2015  Sign FAFSA using FSA ID/password(this method is new)  May be used by students and parents throughout aid process, including subsequent school years  You will need to use CBS school code: How to Apply

CBS Financial Aid Portal /

CBS Financial Aid Portal

 You’ll see this on the left side of your screen as you complete your application.  Each milestone represents a step you need to complete in the application process.  You are not finished with the application until all milestones have a next to them.  lets you know which milestone you are currently completing.  Milestones are completed in the order presented on the list. Your Milestone List

Enrollment Status & Awards  Enter the number of credits you will be enrolled for each semester. If you are unsure, leave them at 12.  Tell us if you are receiving any scholarships or other aid for the upcoming year.  We’ll show you your initial loan eligibility here. You can reduce the loan amount.

Required Documents  Time to complete some documents!  Click into ‘Entrance Counseling’  You can’t skip this part.

Direct Loan MPN  Make sure that you complete your eMPN if you’re receiving a loan. This screen will direct you to the proper website to do so.

Estimated Financial Plan  Here you can review your tentative financial plan.  Note that this is just a base plan. The Financial Aid team will be reviewing and making adjustments as necessary (including adding your Summer term).

 Once we have your FAFSA, you might have a few more documents to submit to us. This page will list any additional requirements.  Click into each link to read through what is needed. More Require Documents

Requesting Documents “Verification” is a process used by both the U.S. Department of Education and the College to confirm information a student or prospective student has provided on the Free Application for Federal Student Aid (FAFSA). Here are some example of such documents.  High School/GED completion  Household Size  W-2 Forms  Tax Return Transcript

Submitting Documents

 Make sure you hit ‘I Attest’ or your file will not be submitted for review.

Disbursements and Refunds  After your fees and any other charges on your CBS student account are paid, any remaining financial aid will be refunded to you by check in the mail. All Refunds are disbursed after Census Date, days from the time of class start.  Generally, if your financial aid has disbursed aid onto your student account and a credit is created, you can expect to receive a refund approximately 7-14 business days later. *** STUDENTS ARE RESPONSIBLE FOR ANY REMAINING BALANCE

Book Allowance CBS offers book allowances maximum of $300 Eligibility Requirements :  Must be Pell eligible and have a credit balance of $300 or more. This will include all FSA funds Example Student loans  All financial aid documents must be completed and processed 10 days prior to the first start of class  Book allowances will be issued in the CBS bookstore as a credit. Available during the first week of school and issued for two weeks.

DEADLINES!!!! Your FAFSA and all documents will need to be submitted to CBS Financial Aid Department in order to process before school starts :  Fall 2016 July 11, 2016  Spring 2017 November 14, 2016

Student Responsibilities: Key Points!!!! Pay attention to s Questions about your financial aid contact our office Check the Financial Aid Portal- SAINT Student for status updates on your file Questions about your Payment plan/billing account contact Jenny Hernandez Loans may be cancelled if you have not complete a Entrance Counseling and MPN within 30 days after CBS first disburse of Federal Funds Notify Financial Aid of any enrollment changes (Add/Drop) Maintain Satisfactory Academic Progress (SAP)-GPA and Completion ratio)  Grades of F, W, WA, and I are not considered as satisfactory completion  Warning, suspension, probation ***CBS reserves the right to correct any errors made on financial aid awards

Thank You