Financial Aid Presentation Open House April 1, 2017

Finalize your Financial Aid Package Use the Data Retrieval Tool to update your income data on the FAFSA. Unavailable for the foreseeable future. Review the “Estimated Student Aid Award” and “Your Estimated Remaining Costs After Financial Aid” on page 2 of your award booklet. The “Compare Your Aid Awards” https://bigfuture.collegeboard.org is a useful tool. It is not necessary to sign or return your award letter.

PA State Grant Program . Commonly referred to as PHEAA Grant. Open an account on www.PHEAA.org . Select “State Grant Program” and follow the instructions. Monitor the status of your state grant. Announcement of awards will begin in May. Check emails regularly. .

State Grant Reciprocity Agreements Vermont, Maine, Massachusetts, Maine, Ohio and West Virginia Check with your state grant agency for deadlines and incomplete forms Maryland, New York and New Jersey DO NOT have reciprocal agreements

Federal Direct Loans Fixed Interest Rate – 3.76% Subsidized Loans and Unsubsidized Loans 1.069% Origination Fee Delayed Repayment - 6 Month Grace Period After Graduation/Withdrawal Deferments Available Loan Interest Rates & Origination Fees are Subject to Congressional Changes

Federal Direct Loans Go to www.studentloans.gov Complete the online Entrance Counseling Complete the Master Promissory Note (MPN) Only need to do this once; MPN is a 10 year serial note

Direct Loan Annual Limits Undergraduate Students: First Year……………………….. $5,500 Second Year…………………….$6,500 After Second Year….…………..$7,500 Borrowing may be subsidized or unsubsidized. Independent students, graduate students, and SOME dependent students eligible for additional limits.

Federal Direct PLUS Loan Apply at www.studentloans.gov Cost of Education - Other Aid = Max Borrowing Amount Fixed Interest Rate 6.31% 4.276% Origination Fee Repayment Term 10 Years Maximum

Federal Direct PLUS Loan Repayment May Be Immediate or Deferred Normal Repayment - 60 Days After 2nd Disbursement In School Deferment Available Loan Interest Rates & Origination Fees are Subject to Congressional Changes Apply after May 1, 2017. Credit decision expires after 180 days.

Private Education Loans Go to www.elmselect.com for private/alternative loans Student will need a credit-worthy cosigner Carefully compare loans and be aware of repayment terms and conditions

Payment Options Marywood University bills on a semester basis Option 1: Payment in full (total charges less financial aid) Fall 2017 payments due 8/7/2017 Option 2: 10 monthly installments. $40 fee. First payment due in July. Available through the Cashier’s Office. (Contact them at 570-348-6212 or email at cashier@marywood.edu) Note: There is a 2.75% convenience fee for credit card payments.

Summer Orientation Attend summer orientation on July 14 – 15 Bring two forms of identification if you are eligible for Federal Work Study and want to sign up for a job Financial Aid Counselor’s will be available to help with any last minute financing questions

Additional Information Use the Marywood University Financial Aid Office website as a resource for important information. Start with “Application Process” and choose “New Freshman Students” or “New Transfer Students” All new students and parents are encouraged to review “Policies” under “Eligibility for Aid”

Contact Information Barbara Schmitt, Director of Financial Aid Roxanne Seymour, Associate Director of Financial Aid Tisdale Frederick, Financial Aid Counselor schmitt@marywood.edu rseymour@marywood.edu tfrederick@marywood.edu finaid@marywood.edu Phone: (570) 348-6225 or      toll free 1-TO-MARYWOOD ext. 6225 Financial Aid Web Page:     http://www.marywood.edu/fin_aid/  

Questions??