The Basics of Financing a College Education

Financial Aid – Lisa Treman, Associate Director Student Accounts – Sue Wright, Director Student Employment – Lynn Rogers, Coordinator

Apply for Aid

www.fafsa.gov

Complete the

14 -15

FAFSA for the spring semester.

Add our school code (002842) if you’re transferring in from a school you attended during the fall or summer 2014.

www.tapweb.org

Add our school code: (0905) Must be full time (12 credit hours or more) APTS – replaces TAP for part time students.

Application at our office or on our website.

Types of Aid

Need Based Aid: • Grants: Federal Pell Grant ($2,865 full time max) ($301full time min) • Federal Supplemental Educational Opportunity Grant (FSEOG) • Work: Work Study $1,680 $8.75/hour x 12 hours per week x 16 weeks

Types of Aid

Loans: Federal Perkins Loan (need based) 5% Federal Direct Subsidized Stafford Loan (need based) 4.66% Federal Direct Unsubsidized Stafford Loan (non-need based) 4.66%

Banner & Student Email

All not

important information is communicated to the

student

, to the parent, via their Buffalo State email account • Banner: Outstanding Requirements such as: verification, entrance counseling, MPN, SAP, C Flags, Rejected applications, active messages from the office to name only a few • Award notifications: initial and revised

Check Often!

Banner Login

You Must Complete the Process

Agree to the terms and conditions and Accept, Reduce or Decline Aid on Banner • See our website for instructions

http://www.buffalostate.edu/financialaid/

First Time Borrower?

– Entrance Interview – MPN

www.studentloans.gov

Perkins Loan

http://slsc.albany.edu/ecsi/prom.html

Additional Payment Options

• Parents may apply for a PLUS Loan at WWW.STUDENTLOANS.GOV

7.21% • Student may apply for an Alternative Loan (visit our website for possible lenders) variable rates • Automatic Payment Plan – apply on-line via View/Pay bill link in self-service Banner • • Student Employment Office - GC306 Scholarships - www.buffalostate.edu/financialaid/

Satisfactory Academic Progress

You must get good grades and complete your classes! Minimum cumulative GPA of 2.0

(GPA)

Complete 2/3 or roughly 67% of credits attempted

(Pace)

W’s and I’s are not okay!

Must complete degree before attempt 180 credits

(Maximum Timeframe)

Graduate on Time

Minimum 120 credits required to graduate – 120/12 credits = 10 semesters, 5 years • $36,735 in tuition & fees (at current rate) • • Maximum Subsidized Stafford loans $23,000 Maximum Unsubsidized Stafford loans $8,000 • • Combined maximum $31,000 If not EOP max TAP 8 semesters – 120/15 credits = 8 semesters, 4 years • $29,388 in tuition & fees • Minimum savings $7,347 in tuition & fees Add a minimum of $11,852 per year for living on campus (standard room & board)

FERPA

Family Educational Rights and Privacy Act Can’t disclose student financial aid information to anyone who is not the custodial parent(s) listed on the FAFSA Consent Form

Reminder

You must complete the FAFSA

each

award year. Tax time is FAFSA time!

15-16 FAFSA is now available for the fall 2015 and spring 2016 academic year.

File by March 1, 2015 for on time consideration.

SUNY Statewide Student Financial Aid Day 2015

February 28, 2015 www.suny.edu/student Register is open now

You’ve Got to Pay the Bill

Awards can only be used to defer payment IF listed on the e-billing statement Electronic bills (e-Bills) are the exclusive billing method. Notifications are sent to the student’s Buffalo State student email account

Due Dates

Invoices processed in mid-December are due 1/22/2015 Invoices are processed monthly after drop/add period has concluded Failure to pay this or subsequent bills will result in a $30 late fee

Book Deferments

Get yours before the deadline!

Students with aid in excess of charges are eligible to request a book deferment Available about 3 weeks prior to the start of classes through Drop/Add One deferment per semester (fall/spring) usable through end of 4th week of classes

Aid Disbursement

Loans begin to be disbursed the end of week two Grants and scholarships get disbursed after week five Good idea - Come with cash in hand

Get Your Refund via Direct Deposit!

If there is aid in excess of charges, a refund is issued to the student We encourage students to sign up for Direct Deposit for safe, fast receipt of refunds

Health Insurance

Mandatory for all full-time students Coverage dates 1/22/2015 – 8/12/2015 DEADLINE to submit a waiver is 2/24/2015 Contact the Weigel Health Center at: 716-878-6711 for further information

Get Your Parking Permit

Spring semester - $35 Available online by logging into Parking Services website with your username and password. They will be mailed to your home address or can picked up at the office in Chase Hall through February 1 st & added to your tuition bill.

After February 4 th permits can no longer be added to your tuition bill. Payment through debit or credit card will be required at the time of your request.

Student Employment

Career Development Center Provide students with resources to find non-work study positions on & off campus – Only 2.7% of BSC students work as Student Assistants (on-campus jobs, non-work study) Part-time & Summer Business Directory Host part-time employers on campus

Student Employment

Job Postings on ORCA

Contact Information

Financial Aid and Student Accounts are located in Moot Hall.

FA - 716-878-4902 SA – 716-878-4121 Student Employment is located in Grover Cleveland Hall.

716-878-5911 Office Hours Monday – Wednesday, Friday 8:30 – 5:00 Thursday 8:30 – 6:00