Transcript Slide 1
David Geffen School of Medicine At UCLA
Financial Aid Basics
Gloria Pinedo Associate Director Student Financial Services Office Foundations 2011
Before We Get Started…
We are located at 12-109 CHS Office number is (310) 825-4181 Email is [email protected]
Our website is: www.medstudent.ucla.edu/ and click on “Financial Aid” Counselors: Rebecca Eskins 1 st and 2 nd Year Classes (310) 794-5476 [email protected]
Patrick Julian 3 rd and 4 th Year Classes (310) 794-5482 [email protected]
Financial Aid Application
2011-12 Financial Aid Application Email
Entering Students – NO DEADLINES Continuing Students – deadlines in March / April Application Options A.
B.
SOM Scholarship, and Federal Direct Loans Direct Loans Only Check status on MyFAO:
www.fao.ucla.edu
and click on MyFAO to login to Document Tracking
Missing forms can be downloaded from the Document Tracking Complete application → Need Analysis and Awarding
Need Analysis and Awarding
How need is calculated go to:
www.medstudent.ucla.edu
, click on “Financial Aid” and then
“Understanding Need Analysis ”
Need-based Scholarships, loans and Direct Loans are awarded:
To those that provided parent and student information
and
are deemed eligible
“Direct Loans only” are awarded:
To those that provided student info only Or, were in eligible for need-based scholarship
Need Analysis and Awarding
How we award your financial aid (in this order): 1.
2.
3.
4.
5.
Gift aid (if eligible) Campus based loans (if eligible) Direct Subsidized Direct Unsubsidized Grad PLUS
* Total package of aid cannot exceed the Student Financial Aid Budget
Direct Loans are initially awarded in the amounts requested on your Institutional Application (IA)
Subsidized
$8,500 annual max Unsubsidized, whichever is less:
Amount requested on IA, or $34,222 annual max, or Up to the budget You will accept, decline and/or reduce these awards when you complete and sign your eFAN (award letter)
Electronic Financial Aid Notification (eFAN)
Your “official” financial aid award letter
You’re emailed when an eFAN is available to complete and sign on line Access your eFAN(s) at MyFAO : www.fao.ucla.edu - click on MyFAO to login You are
required
to accept or decline each award, and electronically sign your eFAN;
loans will not disburse unless accepted
Each time your award package changes, a revised eFAN will be available to complete and sign
In addition, the following is required before your loans will disburse…
Complete your Direct Loan Master Promissory Note (MPN)
To complete your DL MPN: 1.
Go to: www.studentloans.gov
2.
Click on "Sign In" 3.
4.
5.
6.
Enter your SSN, first two letters of your last name, birth date, and FAFSA pin Click on "Complete MPN" Click on Subsidized/Unsubsidized to complete the MPN If you’ve been awarded Grad PLUS, you’ll need to complete an additional MPN for Grad PLUS
Complete your Campus-based Loan Promissory Note
Perkins Loan Prom Note and Documentation
Can be completed on line at www.loans.ucla.edu/epnote.html
Carefully read and follow the instructions Problems, call SLS at (310) 825-9864
University Loan Prom Note and Paperwork
Mailed to you from Student Loan Services (SLS) Complete and sign
all
paperwork Return in envelope to SLS or to FAO (12-109 CHS)
Before your loans will disburse… Complete your Loan Entrance / Debt Management Session
It’s a Federal requirement It’s done on-line at: www.loans.ucla.edu/dms.html
Complete
all
sections (Direct Loan Sub and Unsub, Perkins, Grad PLUS) Once completed, the Loan Office will flag the system to release your loan funds
Financial Aid Disburses…
Into your UCLA Bruinbill called BAR) account (formerly Each semester To pay tuition and fees and other debt owed to the school You can view your Bruinbill on URSA at: www.ursa.ucla.edu
Financial Aid Refund…
Is the left over aid
after
tuition and fees (and other debts on Bruinbill) are paid in full Can be equal to the entire amount of aid for the semester,
if
there is
no
debt on Bruinbill Is used to pay for rent, food, books, computer, etc.
Can get to you 2 ways: Bruin Direct into your personal bank account For Bruin Direct, go to http://www.sfs.finance.ucla.edu/ A check mailed to your current address, which can be updated via URSA
Standard Student Financial Aid Budget
Total cost of attendance and maximum amount of financial aid you can receive for the school year
Is assigned based on:
Year in school – 1 st year, 2 nd Commuter - with parents year, 3 rd year, etc.
Where you will live during the school year Off Campus – in an apartment or Weyburn
Includes education and living costs for the student only, not dependents
Covers costs incurred during the enrollment period only
Developed using:
Set costs - such as tuition, fees, books, parking, Hep B vaccines, etc.
Cost averages - derived from annual student survey - such as rent, utilities, food, clothing, etc.
If Your Financial Aid Is Not Enough
Request in writing additional Direct Loan
Will usually be Unsubsidized Can borrow up to the Student Budget
or
limit, whichever is less annual loan
Request an allowable increase to the Student Budget
Medical/Dental expenses
not
covered by insurance Childcare expenses when the other parent works Add-ons to the budget are covered by loan
Appeal in writing for reevaluation of your financial need
If your spouse or parents’ income, assets or household have changed since applying for aid
Revisions to the financial aid package are in September
Research and Apply for Outside Scholarships
Will supplement your need-based scholarship and reduce Direct Loan requirement Look at “Pennies From Heaven” on our website (our compilation of outside agencies) Watch for emails from the FAO about outside scholarship opportunities Search the web for free scholarship information
Advance Against Financial Aid Related Expenses AKA Emergency Loan (E-Loan)
An advance against your financial aid until it disburses Interest-free Loan Available usually a week before instruction begins or on a case-by-case basis if aid is delayed For up to $2,000 or Fees + $2,000 2-part application process: 1.
2.
Complete E-Loan Application at FAO: 12-109 CHS Take signed application to Student Loans: A227 Murphy Hall Later e-loan is posted on BAR to be paid automatically when financial aid disburses
In-School Student Loan Deferment
Postpones repayment on your Stafford PLUS loans Requires that you’re enrolled / attending status / Direct , Perkins , and school at least halftime Defers repayment on both interest and principal May apply to your university and/or private loans To get one: 1.
Print a deferment form 2.
3.
Complete your portion and bring to the FAO: 12-109 CHS We’ll certify and sign/stamp it 4.
You mail it to your loan servicer Via the “ clearinghouse deferment ”, UCLA updates DOE/servicers when you’ve paid fees in full, which automatically puts your loans into When in doubt, call your loan servicer to verify deferment status
Important Information
www.fao.ucla.edu
click on MyFAO to log in
MyFAO
To check the status of your FA Application
To view, complete, sign & print your eFAN www.ursa.ucla.edu
URSA
Change your address View / pay your Bruinbill (formerly BAR) UCLA Registrar
View annual tuition and fee breakdown Student Loan Services
Perkins / Univ. Loan paperwork questions Graduate Student Health Insurance (GSHIP) Main Cashier
Pay Bruinbill / tuition and fees in-person Residence Deputy
CA residency for tuition purposes Student Accounting
Bruinbill / Bruin Direct Issues Financial aid refund check pick-up Veterans Affairs / Vet Benefits www.registrar.ucla.edu/fees A227 Murphy (310) 825-9864 (310) 794-5613 www.studenthealth.ucla.edu/ 1125 Murphy (310) 825-2201 1113 Murphy 1121 Murphy (310) 825-3447 (310) 825-9194 1113 Murphy(310) 825-5391 www.registrar.ucla.edu/faq/veteranfaq.htm
From Student Financial Services (FAO)…
We would like to say, “THANK YOU” for coming And
Welcome!!
Feel free to stop by anytime We’re here to help!!