Govs R.O.W. 2015

Applying for Financial Aid  Opens January 1 st  FAFSA applies to:  Fall 2015  Spring 2016  Summer 2016  Can be completed before taxes have been filed  Use estimated figures  Make corrections with accurate figures after taxes are filed  Must be completed every year

Verification Your Response is Urgent!  Random selection; notified by  Verifies the FAFSA is correct  You cannot be awarded until Verification is complete  If selected, we need:  Verification Worksheet (completely filled out)  2014 IRS Tax Return Transcripts—not Tax Returns  Can be loaded into FAFSA with IRS Data Retrieval  Can also be found at irs.gov  Other documents as requested  Check your AP even after turning in documents!

Financial Aid Award Announced as early as April  Can be checked through :  AP OneStop  AP  If you receive outside resources:  Must Report it to Financial Aid using the Additional Resources form  Scholarships  Discounts  Benefits  This can prevent over-awarding on your account (over-awards sometimes result in billings to the student)

Cost of Attendance A tool for Financial Aid  Located on OneStop under Award Overview  Not your billing statement  Calculated as the average amount students need for the following all added together:  Tuition & Fees  Books & Supplies  Room & Board  Misc. Expenses  Used as your budget for financial aid

Tennessee Hope Lottery Scholarship  GPA Requirements  2.75 at 24 and 48 attempted credit hours  3.0 beyond 48 attempted hours  Enrollment Requirements  If you registered full-time, stay at full-time  Failure to remain at full-time could result in a permanent loss of the scholarship  If you lose your lottery scholarship:  Appeal – Only with extenuating circumstances (cannot appeal due to GPA)  Regain – Every 24 attempted credit hours

Tennessee Promise Available at APSU  Currently estimated at $2,079 per semester  The amount of the award may be reduced if other forms of gift aid are received, including Lottery, Pell & TSAA  Must be seeking an Associate’s Degree  Must perform required community service hours prior to the beginning of the semester it’s received  Must maintain satisfactory academic progress

Satisfactory Academic Progress  Financial Aid is based on:  GPA  Completion rate of classes (Pace)  Overall progress toward graduation  Failure to maintain satisfactory academic progress will result in the cancellation of financial aid

Readiness Checklist

Authorization Form Optional  Allows excess financial aid to be applied to:  Bookstore debit program  Health services  Parking tickets  Etc.  May be completed online at:  AP OneStop  Web Self Service  Financial Aid  Eligibility  Authorization Form

Enrollment Intentions Needed every year  Required so our office plans for the correct budget  Financial Aid is based on:  Enrollment hours  Length of coursework  Attendance throughout the year  The Enrollment Intentions form can prevent over- awarding on your account (over-awards sometimes result in billings to the student)

Enrollment Intentions

Failure to enroll the hours you indicate could result in a billing to your account.

Terms & Conditions Also needed yearly  Reminds you of important rules regarding aid  Located at:  Onestop.apsu.edu  Web Self Service  Financial Aid & Veteran’s Affairs  Eligibility  Terms and Conditions  Lottery recipients have a separate Statement of Understanding as well

Loans Accepting your offers  The offered amount is for the entire aid year  Whatever you accept will automatically be split between the Fall and Spring semesters  If you plan on attending in summers, leave enough loans remaining to be applied to the Summer semester

Loans Steps to Take

Loans

Whatever you accept will split between Fall and Spring If you accept a partial amount, the remainder can be picked up later through an Adjustment Form or in the Summer semester

Readiness Checklist Revisited

Loans Additional Requirements  Direct Loan Entrance Counseling  Reviews all loan regulations  Master Promissory Note  You affirm that you are responsible for repaying your loans  Both must be completed at studentloans.gov  Loans will not pay out unless these requirements have been completed  Good for 10 years

Debt Management Borrow Responsibly  Aggregate Loan Limits – the total you can borrow  Undergraduate Dependent = $31,000  Undergraduate Independent = $57,500  Graduate = $138,500  Maxing out on loans each year and taking more than 4 years to graduate could cause you to exhaust your limits BEFORE you graduate.  The average loan debt upon graduation: $25,000

Any Questions?  Ellington Building, Room 216  apsu.edu/financialaid  (931) Welcome to APSU!