Transcript Advising, Financial Aid, and TOPS

Advising, Financial Aid, and TOPS
• This online session will give advisors
general information to be able to answer
questions that they may encounter during
an advising session concerning financial
aid and TOPS.
Process to receive financial aid
• Student must complete the FAFSA application
(by May 1) www.fafsa.ed.gov
• Student receives Student Aid Report (paper or
electronic depending on method of filing).
• UL Lafayette gets electronic copy of Student Aid
Report (SAR)
• Student must submit all documents requested by
UL Lafayette Financial Aid Office.
What kind of documents?
• Documents can include:
*Data form (available on ULink)
*Verification Worksheet
*Tax Returns for parent and student
(if applicable)
What happens next?
• Student receives award letter which states
federal programs and amounts awarded to
student.
• Student signs and returns the award letter
to Financial Aid Office as soon as
possible.
Types of Federal Financial Aid Programs
 Grants
Pell Grant
SEOG Grant
ACG Grant
SMART Grant
 Loans
Stafford Student Loan
*Subsidized
*Unsubsidized
Perkins Student Loan
PLUS (Parent Loan)
 Federal Work Study
Grants
• Pell Grant
*Awards range from $555-$5,550 per
academic year
• SEOG Grant
*Awards average $600/year
*Must be full Pell Grant eligible
Grants
• ACG (Academic Competitiveness Grant)
*Must be Pell Eligible
*Only for students who graduated after 1/1/05
*Rigorous High School Program of Study

TOPS Core
*1st Year Awards are a maximum of $750
per year
*2nd Year Awards are a maximum of $1,300 per
year
Grants
• SMART Grant
(National Science & Mathematics Access to Retain Talent Grant)
– Must be Pell Eligible
– 3rd or 4th year of study
– Must have a 3.0 cumulative gpa
– Must major in certain Science or Math
curriculum
– Awards are a maximum of $2,000/semester
Stafford Loans
• $3,500 max per year for Freshmen
(effective 7/1/07)
• Subsidized interest rate is 4.5%
• Unsubsidzied interest rate is 6.8%
• Direct lending through Federal
Government
• Entrance Counseling On-Line required
before Loan will be certified.
Stafford Loans
• Subsidized
– Need Based
– No Payments are made and no interest accrues while
in school.
– Government pays interest while student is in school
• Unsubsidized
– Student responsible for interest while in school
– Interest can be capitalized until student is no longer
enrolled at least ½ time
Perkins Loans
•
•
•
•
•
Need Based
$5,500 maximum annual award
5% interest rate
Borrow from University
Cancellation Privileges
– Some Teachers
– Medical Careers with patient contact
• Nurses
• EMT
– Police Officers
– Child and Family Service Careers
PLUS LOANS
• Parent loan
• 2010-11 interest rate is 8.9%
• Payments begin 60 days after loan is
disbursed
• No adverse credit history
• Amount of loan is limited by
– Cost of Attendance less other resources
Federal Work Study
• Students who have submitted their signed
award letter can check in Foster Hall
Room 221 for work-study eligibility and/or
availability. Students who are only
receiving an Unsubsidized Federal
Stafford Loan would not be eligible for the
Federal Work-Study program.
State Programs
• Louisiana Go Grant
– First time freshmen and adults over 25 who have not
been enrolled for 1 year.
– Pell Eligible
– Louisiana Resident
– Degree Seeking
• Award
– Full-time students - $900/year
– At least ½ time students - $450/year
– Less than ½ time students - $225/year
Transfer Students and Financial Aid
• Students transferring to UL Lafayette from another
institution or students who attended another institution
previously and are applying for financial aid must:
– Submit a copy of their Student Aid Report and a complete grade
transcript from the last school attended. A request letter will be
mailed from the Student Financial Aid Office if further information
is needed.
– Grade transcript will be evaluated to determine whether or not
student is making satisfactory academic progress according to
UL Lafayette’s standards.
– Student will be notified in writing of eligibility after transcript has
been evaluated.
TOPS
• Tuition Opportunity Program for Students
 Award Eligibility
• 8 Semesters of Eligibility
opportunity
performance
2.5
3.5
3.5
GPA on Core
GPA on Core
23 ACT
27 ACT
GPA on Core
20 ACT
honors
TOPS Stipend Per Semester
• Based on 2010 figures
Opportunity
Performance
Honors
$1,475.00
$1,675.00
$1,875.00
UL Lafayette Semester Costs
• Based on 2010 figures
Tuition
Room and Board
$2,200
$2,379
(traditional dorms)
Books and Supplies
$ 600
Deadlines for TOPS
• May 2 – FAFSA for Federal Aid
• July 1 – Application for TOPS
(preferably the FAFSA)
TOPS Rules
• In order for the university to bill LOSFA for
a student’s TOPS funds, the student must
be registered full-time through the 14th
class day.
• Student must meet the following GPA at
the end of the Spring Semester:
– Opportunity
– Performance
– Honors
2.3 (1st academic year)
2.5 (all subsequent years)
3.0
3.0
TOPS Rules
• Student must have a 2.0 GPA at the end of the
Fall Semester to receive Spring TOPS
• Student must have continuous full-time
enrollment
• Should file a FAFSA every year by July 1
• TOPS awards are usually posted in student
accounts by:
Mid-October in Fall semesters
and
Mid-March in Spring semesters
TOPS
The Most Important 24 Hours of the Year
•
Must earn 24 hours of credit each academic year
•
Hours earned in summer session do count
•
Hours earned in advanced placement courses do not count
•
Hours earned in remedial courses required by the institution do count
•
Winter and Spring intersession credit hours and GPA will be calculated for
TOPS eligibility.
•
The TOPS cumulative GPA is calculated on all course work attempted and
may not be the same as that calculated by UL Lafayette.
•
TOPS Awards are cancelled if students do not have 24 earned hours by the
end of the Spring semester. TOPS IS LOST FOREVER!
Financial Aid and Student’s Bill
• FEDCSH (Fed Cash) or TOPCSH (TOPS
Cash) on Statement of Account means
student has a tuition deferment and
student’s schedule will be reserved.
Financial Aid and Class Schedules
• Students who have submitted all required
documents for Financial Aid, including their
award letter, and are registered ½ time (6 hours
or more) can request a Tuition Deferment
(FEDCSH) via ULink beginning in mid-July until
the last day to pay fees.
• TOPS Deferments (TOPCSH) will be posted
automatically on student’s accounts if they are
listed on the TOPS Master Roster and are
registered full-time (12 or more hours) to reserve
class schedules.
University Policies
Student
• cannot receive financial aid for more than 30 credit hours of remedial coursework
• must have a complete admission application on file
• must be pursuing a degree or certificate in order to be eligible for Federal Student Aid
• must be a U.S. citizen or eligible non-citizen
• must be enrolled at least half-time in order to receive any type of student loan(s) and
Federal Work Study. Undergraduate half-time enrollment is 6 hours for fall/spring
semesters and 3 hours for the summer session. Graduate half-time enrollment is 5
hours for fall/spring and 4 hours for the summer session.
• enrolled at the University for Summer ONLY, currently pursuing a degree at another
school (Summer Visitor), and who do not plan to attend a regular fall/spring semester
at UL Lafayette are NOT eligible for Federal Student Aid at UL Lafayette.
• must register for classes before financial aid will be applied to their University
account. Financial aid will be applied to a student’s account based on the number of
registered hours.
• must be registered for classes by the preregistration deadline date established for the
semester in question in order for financial aid to be credited and available during
registration.
• is responsible for tuition and fees for all credit hours registered for as of the class day
after the schedule adjustment period ends. This means even if a student drops a
class(es) or resigns after this date, the full amount of tuition may still be owed after
the University refund policy is applied.
Financial Aid Probation
• A student is placed on Financial Aid (FA)
Probation if he/she does not meet the minimum
GPA and hours earned.
• While on FA probation student must meet the
Academic Satisfactory Standards or the student
will be placed on FA Suspension. Student will
remain on probation until the minimum adjusted
GPA has been met. Student is eligible to
receive FA while on FA probation but not on FA
Suspension.
Satisfactory Academic Progress
Financial Aid Academic Guidelines
• Financial Aid Academic Guidelines can be
viewed at:
• http://admissions.louisiana.edu/financial-aid/standards.shtml
Financial Aid Suspension
• If a student is placed on FA Suspension, they
have the following options:
– Pay for tuition with a minimum of six hours in fall or
spring semesters or three hours in the summer term,
earn the GPA and complete the minimum number of
hours shown in the Financial Aid Academic
Guidelines http://admissions.louisiana.edu/financial-aid/standards.shtml.
The student would then earn back FA. (Does not apply to students over
the maximum hours.)
– Appeal FA Suspension online through ULink.
Additional requirements may apply if the appeal is
approved.
Short-Term Loan
• A short term loan is an advance on the
student’s refund.
• Student must have enough financial aid
and scholarships to pay all University
charges and be receiving a financial aid
refund in order to be considered for a short
term loan.
Questions?
•
UL Lafayette Financial Aid Office
Foster Hall Lobby
337-482-6506. Option “0”
[email protected]
– View Frequently Asked Questions at http://admissions.louisiana.edu/financial-aid/pdfdocs/FAQs.pdf
•
UL Lafayette Scholarship Office
Martin Hall, Room 260
337-482-6515
[email protected]
•
LOSFA – TOPS Office
1-800-259-5626 ext. 1012
www.osfa.state.la.us
[email protected]
•
FAFSA
www.fafsa.ed.gov
1-800-4-FED-AID (1-800-433-3243)
Reference
• Information for this training was compiled
by the Academic Success Center from
The University of Louisiana at Lafayette
Student Financial Aid Office website at
http://admissions.louisiana.edu/financialaid/
Test
• To receive Advisor Training credit (for
advising awards) please right click here
and select “Open Hyperlink”. After
completion, save the file as your name;
then attach the file in an email to
[email protected] or print and send
your answers through campus mail to
Bette Harris c/o Academic Success
Center.