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 Room 70 Swatara Building Option #1

Estimated Tuition & Fees PA ResidentNon-PA Resident –Tuition & Fees* $12,344 - $12,850 $18,420 - $19,238 –Room & Meals* $8,300$8,300 –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 One Con’t Stafford Loans Work Study Answer (Both) to question #31 on FAFSA

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

Step Two con’t Student Aid Award Notification sent via after March 25 th. This notification will list all the student financial aid programs (loans, grants*, work-study, and/or scholarships) for which you are eligible for the fall & spring semesters. *Separate notification for PA State Grant (PHEAA).

Step Three Complete request from Pennsylvania Higher Education Assistance Agency (AES/PHEAA). NEW: 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 Income Validation by PHEAA Copies of 2008 Tax return Special Circumstances – Contact Office after April 1, 2009 for the new form –Lost wages, untaxed income, death

Direct Lending  PSU participates in Direct Lending for Stafford, Plus & Grad-Plus loans.  Interest Rate:  Subsidized - varies 6-3.4% until  Unsubsidized – 6.8%  Origination fee 0.5%  Must have PIN#

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 Answer #31 as both

Step Five Con’t Students must sign a promissory note for Stafford and Perkins loan. –MPN – Good for 10 years –Perkins – –PIN # used to sign online.

Step Six Loan Entrance Counseling Required –Stafford Student Loan Activate PSU Access Account –Students Loan Entrance Counseling

Step Seven Academic Scholarship Application –Web-based application –Prospective Student –Financial Aid –Scholarships GPA = 3.0 or greater – Deadline April 1, 2009

Step Eight  PLUS Loan – Parent borrows on behalf of the dependent student.  Fixed interest 7.9%.  A 2.5% origination fee deducted from gross amount of the loan borrowed.  Repayment begins 60 days after the 2 nd disbursement.  May be deferred contact  Set up “Friend of Penn State” eLion Access through student’s eLion account given at FTCAP. After 6/30 apply for PLUS loan at Sign MPN one time only.

Step Nine Complete Rapid Refund Form eLion: –Students Refund Information Refund available within 48 hours

Step Ten CONFIRM REGISTRATION Schedule/Registered No Paper Bills Bills on eLion approx. July 10, 2009

Questions