Financial Aid Ten Steps to Finalize Financial Aid

Office Staff Carolyn A. Julian –Student Aid Adviser & Veterans Affairs Coordinator Catharine G. Hook –Administrative Support Staff Swatara Building Option #1

Estimated Tuition & Fees PA ResidentNon-PA Resident –Tuition & Fees* $12,730 - $13,250 $18,986 – 19,828 –Room & Meals* $9,054$9,054 –Books & Supplies** $1,900$1,900 *Direct Costs **Indirect Costs

Step One Free Application for Federal Student Aid (FAFSA) Keep in a secure place Multiple uses School Code University Park All PSU campuses

Step Two Work Study Answer question on FAFSA $8.50 per hour Max 20 hours per week Paid bi-weekly Direct Deposit

Campus Based Aid Supplemental Educational Opportunity Grant (SEOG) Perkins Loan Work-Study No separate application required

Award Notifications Student Aid Award Notification sent via starting March 23rd and continues on a rolling basis. This notification will list all the student financial aid programs (loans, grants*, work-study, and/or scholarships) for the fall & spring semesters. *Separate notification for PA State Grant (PHEAA).

Step Three Complete request from Pennsylvania Higher Education Assistance Agency (AES/PHEAA). Online process--students will receive an with website & instruction to complete. Name of College: Penn State Harrisburg Housing: On/Off Campus or Commuter. For PA Residents only

Step Four Complete verification process if selected by University: –SS Card (student & parent) –Selective Service –Citizenship –Estimated filers Copies of 2010 Tax return –Supporting schedules, W-2’s & proof of untaxed income. Income Validation by PHEAA Special Circumstances – Contact the Financial Aid Office if any of the following occurs within academic year –Lost wages, untaxed income, death

Direct Lending  PSU participates in Direct Lending for Stafford, Plus & Grad-Plus loans.  Interest Rate:  Subsidized – 3.4%  Unsubsidized 6.8%  Origination fee 0.5%

Step Five Direct Stafford Student Loan Freshmen$5,500Freshmen$5,500 Sophomore$6,500Sophomore$6,500 Junior/Senior$7,500Junior/Senior$7,500 Graduate $8,500/12,000Graduate $8,500/12,000 Independent $4,000/5,000Independent $4,000/5,000 Disbursed ½ & ½

Step Six Students must sign a Master Promissory Note (MPN) for Stafford, and Perkins, also Loan Entrance Counseling. –MPN: Federal PIN # Good for 10 years –Perkins Loan:

Step Seven Loan Entrance Counseling Required –Student Loans.gov OR Activate PSU Access Account –Students Loan Entrance Counseling

Step Eight  PLUS Loan – Parent borrows on behalf of the dependent student.  Fixed interest 7.9%.  A 2.5% origination fee  Repayment begins 60 days after the 2 nd disbursement.  May be deferred contact  Set up “Friends of Penn State” eLion.psu.edu.  Student must give parent access to Plus Request.  Apply after June 30,  Step-by-step tutorial at Sign MPN one time only.

Academic Progress Students are required to pass a minimum of 24 credits every two semesters to maintain financial aid eligibility for the PHEAA Grant. For Title IV aid (Federal) we recommend both students & parents review the Satisfactory Academic Progress Policy at ww.psu.edu/studentaid/needto know.ww.psu.edu/studentaid/needto

Step Nine Complete Rapid Refund Form eLion: –Students Refund Information Refund available within 72 hours

Step Ten CONFIRM REGISTRATION Schedule/Registered No Paper Bills Bills on eLion approx. July 10, 2011

Questions