1. DAWN HUNDLEY
Associate Director
OneStop Student Services
University of Cincinnati
Clermont College

2. FINANCIAL AID 101

3. What is Financial Aid?
Financial aid are funds provided to students and families to help pay for post-secondary educational expenses.
Examples of Sources
Colleges or Universities
Federal Government
State Government
Civic Organizations and Churches
Employers

4. What is Cost of Attendance (COA)?
Direct Costs
Billed by or paid directly to the college, such as tuition and on-campus housing
Indirect Costs
Necessary expenses, such as transportation, books, off-campus housing and personal care items, that are not paid to the college

5. What is the Expected Family Contribution?
Amount a family can reasonably be expected to contribute, but not what the family will necessarily pay to the college
Two components form EFC
Parent contribution- Based on income and assets
Student contribution- Based on income and assets
EFC Range is
Expected Family Contribution (EFC) is the same regardless of what college or university the student attends.

6. What is Financial Need?
The difference between the cost of attendance and the expected family contribution
Your financial need is used to determine how much aid you may receive
A college alone may not be able to offer enough aid to meet your financial need, however, it is our GOAL!
COA
EFC
Need

7. Grants
Federal Pell Grant- Based on Need- Maximum Award for $6195
State Grants
More Grants available by Major- Nursing, Teaching, etc.

8. Scholarships Need-based OR non-need based Do not have to be repaid
Renewable scholarships usually have a GPA requirement
Scholarship search engines- FastWeb

9. Employment
Federal Work-Study
The school pays a percentage of the student’s wage and the government pays the rest.
Earnings are typically not directly applied to a student’s bill, instead, the student receives regular paychecks throughout the year.
Work-Study benefits:
Increases employment opportunities
Wages are excluded from the EFC calculation on the following year’s FAFSA.
Reduces student loan amounts
Part-time Jobs- Every dollar you make is $1 you don’t borrow!!!

10. How much should I work?

11. Federal Student Loans MUST BE REPAID
Can be student loans, parent loans, or a combination of student/parent loans
Combined with other awards cannot exceed the COA

12. Loans (cont)
Students are eligible for Direct Student Loans regardless of income or credit history
Loan amounts are limited to:
$5,500 for freshman $6,500 for sophomores $7,500 for juniors and seniors.
Independent students are eligible for an additional amount of $4,000 or $5,000 ****Dependency is based on criteria from the federal government
Repayment begins 6 months after graduation (or when enrollment falls below ½ time)

13. Types of Loans Subsidized Federal Student Loans (fixed rate)
The interest is paid by the government while the student is in school.
Payments are deferred as long as the student attends ½ time (6 Hours)
Unsubsidized Federal Student Loans (fixed rate)
The interest accrues on the loan while the student is in school.
Parent Plus Loans (fixed rate)
Loans taken out by the parent of a dependent student
Approval is based on parent’s credit history
If parent is denied a plus loan due to credit, then the student is eligible for additional unsubsidized loans.

14. Loan Limits
$31,000 Dependent Students Lifetime Eligibility to obtain a Bachelors Degree

15. College Financial Success Tips
Borrow ONLY what you need
Take 15 credits/semester
120/12=10 semesters UC Main tuition $55,000
120/15=8 semesters UC Main tuition $44,000

16. Can I afford it??? Dream BIG- plan smart
Talk to your parents about what they are willing to spend/borrow
Know if you can afford your school before it’s time to move in

17. How Do I Apply for Aid?

18. The FREE Application for Federal Student Aid (FAFSA)
File electronically at

20. You can select “Show Text” to see what you’re typing

21. FAFSA Tips:
File as soon after October 1st as possible- Some funds are 1st come 1st serve and once it’s gone-It’s gone!
Filing the FAFSA should be FREE! You should never have to pay someone to complete it for you. UCC One Stop will be happy to help.
Both Parent and Student will have to apply for an FSA ID and password.

22. OHIO TUITION GUARENTEE*
TUITION / YEAR ROOM/BOARD TOTAL / YR**
UNIVERSITY of CINCINNATI $11,660 $13,200 $23,320
UC BLUE ASH $ 6,010 $ unk. $ 6,010
UC CLERMONT $ 5,634 $ unk. $ 5,634
BOWLING GREEN UNIVERSITY $11,094 $10,632 $21,726
MIAMI UNIVERSITY $15,909 $14,124 $30,033
OHIO UNIVERSITY $12,612 $12,966 $25,578
THE OHIO STATE UNIVERSITY $11,084 $12,708 $23,792
XAVIER UNIVERSITY $20,225 $13,940 $34,165
MOREHEAD STATE UNIVERSITY $10,512 $ 8,000 $18,512
NORTHERN KENTUCKY UNIVERSITY $15,000 metro $ 8,700 $23,700
Public 4-year schools in OHIO will all have a tuition promise or guaranteed price as of 2020.