Office of Student Financial Aid 1 Finding Out What You Owe Paying Tuition How Much Will It Cost Sources of Money Managing Student Finances

Office of Student Financial Aid 2 Office Of Student Financial Aid 105 SCHMITZ HALL Box Phone: Student Fiscal Services 129 SCHMITZ HALL Box Phone:

Office of Student Financial Aid E-Billing: The official UW Bill notification (don’t forget to forward your ) View bill on line ( (( (MyUW) Download and print a copy Authorize individuals to have online, phone and in-person access to your tuition information Links to payment methods

Office of Student Financial Aid

LATE FEES $50 to $  $50 $250 and over  $120 Students will have holds on registration and transcripts until the past due balance is paid. The tuition payment is due on the 3rd Friday of the Quarter

Office of Student Financial Aid

Must make selection and/or any changes by 7 th calendar day of the Quarter Student Insurance

Office of Student Financial Aid

Tuition Forfeitures/Schedule Changes 8 th to the 30 th calendar day: $20 Add/drop fee which covers a 24 hour period New tuition rate plus half the difference between the old and new rate Changes must be made by the 7th calendar day of the Quarter in order to avoid financial penalties After the 30 th calendar day: $20 Add/drop fee which covers a 24 hour period Full tuition rate

Office of Student Financial Aid You may pay by check or cash…

There will be a convenience fee for each transaction Student or a 3 rd Party May Pay by Credit Card

Office of Student Financial Aid Aid Disbursement Perkins Loan Student Signs Master Promissory Note Online: MyUW - Financial Aid Status Federal Direct Parent Loan for Undergraduate Students (PLUS) 1.Respond to the Letter from SFS Requesting Information 2.Sign the Master Promissory Note Online: dlenote.ed.gov Stafford Loan Student Signs Master Promissory Note Online: dlenote.ed.gov

Office of Student Financial Aid Outside Sponsors If you are receiving funds from: Hometown Organizations Employers ROTC or other Government Agencies GET Program Checks and/or contracts are sent to Student Fiscal Services CorrespondenceCheck Payments University of WashingtonUniversity of Washington Student Fiscal ServicesStudent Fiscal Services 129 Schmitz HallPO Box Box Seattle, WA Seattle, WA

Office of Student Financial Aid Short Term Loans Maximum available is $2500 (undergrad); $3200 (graduate/professional) Apply to tuition or receive cash MyUW’s Personal Services – click on “Short Term Loan Application”

Office of Student Financial Aid Disbursement of Financial Aid: Loans, Scholarships & Grants Generally, tuition and fees are paid first Depending on the stipulations of the sponsor, the balance may be available to the student.

Office of Student Financial Aid 17 Financial Aid

Office of Student Financial Aid 18 How Much Will It Cost? ACADEMIC COSTS PER YEAR Tuition Non-Resident Books and Supplies Room & Board Personal Expenses Health Insurance Transportation Parking * Residence hall contract – gold meal plan (double occupancy). ** rates (est.) $23,210 $1,035 $8,640 (7,488*) $2,265 $1,419 $396 $1,122**

Office of Student Financial Aid 19 FAFSA Must file the FAFSA each year to be considered for financial aid FAFSA must be filed after January 1 st The application must be dated as received by the federal processor by February 28 for priority consideration The receipt date reflects when the servicer processes and stamps your application Transmit your application (or mail the form) no later than February 15 Continuing student award letters - notices ed in late spring/early summer Free Application for Federal Student Aid

Office of Student Financial Aid 20 Employment & Work Study

Office of Student Financial Aid 21 Stafford Loans Student is the borrower Current interest rate beginning 7/1/08 – 6.0% fixed subsidized, 6.8% unsubsidized Repayment begins 6 months after student drops below ½ time, leaves school or graduates Deferment – a period in which repayment of the principal balance is postponed ( Sign online at

Office of Student Financial Aid 22 Sub vs. Unsubsidized Stafford Subsidized Loan –Need based –Interest paid by government while student attending school ½ time or more Unsubsidized Loan –Non-need based –Government does not pay interest –Students have option of paying interest while attending school or have it added to the principal

Office of Student Financial Aid 23 PLUS Parent Loan for Undergraduate Students Non- need based 7.90% interest rate Repayment begins 60 days after the final loan disbursement for the period of enrollment for which your parent borrowed or a deferment may be requested while you’re enrolled at least half time Funds electronically transferred to the student’s account unless parent indicates otherwise

Office of Student Financial Aid 24 PLUS Denial If the PLUS loan is denied by the Direct Loan Program, the student may be eligible for up to $4000/$5000 in additional Unsubsidized Stafford Loan –Additional amount depends upon class code limit and unmet cost of attendance –Written confirmation from the parents that they will not try to re-apply for the PLUS must be provided to the OSFA before the additional loan can be authorized

Office of Student Financial Aid 25 Aid Disbursement Perkins Loan Student Signs Master Promissory Note Online: MyUW - Financial Aid Status Federal Direct Parent Loan for Undergraduate Students (PLUS) 1.Respond to the Letter from SFS Requesting Information 2.Sign the Master Promissory Note Online: dlenote.ed.gov Stafford Loan Student Signs Master Promissory Note Online: dlenote.ed.gov

Office of Student Financial Aid 26 Short Term Loans Maximum available is $2500 (undergrad); $3200 (graduate/professional) Apply to tuition or receive cash MyUW’s Personal Services – click on “Short Term Loan Application”

Office of Student Financial Aid 27 Scholarships UW Scholarships Office – website and list-serv Possible sources for scholarships: The Office of Student Financial Aid The Undergraduate Scholarship Office Academic Advisors Professors/Departments Hometown Organizations Employers ROTC Library Reference Sections Timeline: Plan ahead and meet with mentors during Summer and Autumn Quarters, keeping in mind that deadlines generally occur during Winter Quarter and interviews in the Spring.

Office of Student Financial Aid 28 Disbursement of Financial Aid: Loans, Scholarships & Grants Generally, tuition and fees are paid first Depending on the stipulations of the sponsor, the balance may be available to the student.

Office of Student Financial Aid 29 Managing Student Finances

Office of Student Financial Aid 30 Student can receive aid 2 ways 1. Direct Deposit into the student’s bank account To set up – log on to Go to Direct Deposit Transfer under “Student Personal Services” In-person pick up of checks is not available 2. Through the US mail to the student’s address A request needs to be made a day in advance of mailing: web: telephone: (206)

Office of Student Financial Aid

32 UW tax web site: Tax Questions for Student Fiscal Services Managing Your Finances For information read IRS publication 515 IRS web site:

Office of Student Financial Aid 33 Money 101 Managing Your Finances Did you know that the average undergraduate owes $3,262 on credit cards? Loan debt can burden students early on. ‘Money 101’ can help! These interactive workshops focuses on several aspects of responsible money management including: credit reports, fraud, credit cards, earnings & savings, budgets and investments. Contact us!

Office of Student Financial Aid 34 Official Withdrawal student notifies the University that he/she will no longer attend any classes the institution determines that they will not permit the student to continue enrollment Unofficial Withdrawal student does not officially withdraw but does not continue attending classes throughout the quarter if a student does not pass any classes, he/she is assumed to have unofficially withdrawn Over Awarded Financial Aid student receives more financial aid than he/she is eligible to receive Financial Aid Disbursement

Office of Student Financial Aid 35 Parent Guide

Office of Student Financial Aid 36 Residency Requirements To be classified or reclassified as a resident, for tuition and fee purposes, a student must establish a bona fide domicile in the state of Washington primarily for purposes other than educational for the period of one year immediately prior to classification as a resident. A nonresident student who is enrolled for more than 6 credits a quarter will be presumed to be in the state of Washington for primarily educational purposes.

Office of Student Financial Aid 37 Student Fiscal Services 129 SCHMITZ HALL Box Phone: Office Of Student Financial Aid 105 SCHMITZ HALL Box Phone: