Transcript STUDENT LOANS - University of Washington
Finding Out What You Owe Paying Tuition How Much Will It Cost Sources of Money Managing Student Finances Office of Student Financial Aid
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Student Fiscal Services
129 SCHMITZ HALL Box 355870 Phone: 206-543-4694 Email: [email protected]
www.washington.edu/students/sfs/
Office Of Student Financial Aid
105 SCHMITZ HALL Box 355880 Phone: 206-543-6101 Email: [email protected]
www.washington.edu/students/osfa/
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Office of Student Financial Aid
E-Billing: The official UW Bill
• Email notification (don’t forget to forward your email) • View bill on line
(MyUW)
• Download and print a copy • Authorize individuals to have online, phone and in-person access to your tuition information • Links to payment methods Office of Student Financial Aid
Office of Student Financial Aid
The tuition payment is due on the 3rd Friday of the Quarter LATE FEES
$50 to $249.99
$250 and over
$50 $120 Students will have holds on registration and transcripts until the past due balance is paid.
Office of Student Financial Aid
Office of Student Financial Aid
Student Insurance
http://depts.washington.edu/ovpsa/insurance.html
Must make selection and/or any changes by 7 th calendar day of the Quarter
Office of Student Financial Aid
Office of Student Financial Aid
Tuition Forfeitures/Schedule Changes
Changes must be made by the 7th calendar day of the Quarter in order to avoid financial penalties 8 th to the 30 th calendar day:
• $20 Add/drop fee which covers a 24 hour period • New tuition rate plus half the difference between the old and new rate
After the 30
• $20 Add/drop fee which covers a 24 hour period • Full tuition rate
th calendar day:
Office of Student Financial Aid
You may pay by check or cash…
Office of Student Financial Aid
Office of Student Financial Aid
Student or a 3
rd
Party May Pay by Credit Card
https://sdb.admin.washington.edu/parents/ccpay.asp
There will be a convenience fee for each transaction
Office of Student Financial Aid
Aid Disbursement
Stafford Loan
Student Signs Master Promissory Note Online:
dlenote.ed.gov
Perkins Loan
Student Signs Master Promissory Note Online:
MyUW - Financial Aid Status Federal Direct Parent Loan for Undergraduate Students (PLUS)
1. Respond to the Letter from SFS Requesting Information 2. Sign the Master Promissory Note Online: dlenote.ed.gov
Office of Student Financial Aid
Outside Sponsors
If you are receiving funds from:
• Hometown Organizations • Employers • ROTC or other Government Agencies • GET Program
Checks and/or contracts are sent to Student Fiscal Services Correspondence
University of Washington Student Fiscal Services 129 Schmitz Hall Box 355871 Seattle, WA 98195-5871
Check Payments
University of Washington Student Fiscal Services PO Box 24967 Seattle, WA 98124-1967 Office of Student Financial Aid
Short Term Loans
Maximum available is $2500 (undergrad); $3200 (graduate/professional) Apply to tuition or receive cash MyUW’s Personal Services – click on “Short Term Loan Application” Office of Student Financial Aid
Disbursement of Financial Aid: Loans, Scholarships & Grants
Generally, tuition and fees are paid first
Depending on the stipulations of the sponsor, the balance may be available to the student.
Office of Student Financial Aid
Financial Aid
Office of Student Financial Aid
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How Much Will It Cost?
*
Residence hall contract – gold meal plan (double occupancy).
**2008-09 rates
(est.) ACADEMIC COSTS PER YEAR Tuition Non-Resident Books and Supplies Room & Board Personal Expenses Health Insurance Transportation Parking $23,210 $1,035 $8,640 (7,488*) $2,265 $1,419 $396 $1,122** 18
Office of Student Financial Aid
FAFSA Free Application for Federal Student Aid
• Must file the FAFSA each year to be considered for financial aid • FAFSA must be filed after January 1 consideration processes and stamps your application later than February 15 emailed in late spring/early summer st • The application must be dated as received by the federal processor by February 28 for priority • The receipt date reflects when the servicer • Transmit your application (or mail the form) no • Continuing student award letters - notices
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Office of Student Financial Aid
Employment & Work Study
http://www.washington.edu/admin/hr/jobs/student_empl_links.html
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Office of Student Financial Aid
Stafford Loans
• Student is the borrower • Current interest rate beginning 7/1/08 – 6.0% fixed subsidized, 6.8% unsubsidized • Repayment begins 6 months after student drops below ½ time, leaves school or graduates • Deferment – a period in which repayment of the principal balance is postponed (www.dlssonline.com)
• Sign online at http://dlenote.ed.gov/
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Office of Student Financial Aid
Sub vs. Unsubsidized Stafford
• Subsidized Loan – Need based – Interest paid by government while student attending school ½ time or more • Unsubsidized Loan – Non-need based – Government does not pay interest – Students have option of paying interest while attending school or have it added to the principal
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Office of Student Financial Aid
PLUS
Parent Loan for Undergraduate Students
• Non- need based • 7.90% interest rate • Repayment begins 60 days after the final loan disbursement for the period of enrollment for which your parent borrowed or a deferment may be requested while you’re enrolled at least half time • Funds electronically transferred to the student’s account unless parent indicates otherwise
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Office of Student Financial Aid
PLUS Denial
• If the PLUS loan is denied by the Direct Loan Program, the student may be eligible for up to $4000/$5000 in additional Unsubsidized Stafford Loan – Additional amount depends upon class code limit and unmet cost of attendance – Written confirmation from the parents that they will not try to re-apply for the PLUS must be provided to the OSFA before the additional loan can be authorized
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Office of Student Financial Aid
Aid Disbursement
Stafford Loan
Student Signs Master Promissory Note Online:
dlenote.ed.gov
Perkins Loan
Student Signs Master Promissory Note Online:
MyUW - Financial Aid Status Federal Direct Parent Loan for Undergraduate Students (PLUS)
1. Respond to the Letter from SFS Requesting Information 2. Sign the Master Promissory Note Online: dlenote.ed.gov
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Office of Student Financial Aid
Short Term Loans
Maximum available is $2500 (undergrad); $3200 (graduate/professional) Apply to tuition or receive cash MyUW’s Personal Services – click on “Short Term Loan Application”
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Office of Student Financial Aid
Scholarships
UW Scholarships Office – website and list-serv http://www.washington.edu/students/ugrad/scholar /
Possible sources for scholarships:
• The Office of Student Financial Aid • The Undergraduate Scholarship Office • Academic Advisors • Professors/Departments • Hometown Organizations • Employers • ROTC • Library Reference Sections Timeline: Plan ahead and meet with mentors during Summer and Autumn Quarters, keeping in mind that deadlines generally occur during Winter Quarter and interviews in the Spring.
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Office of Student Financial Aid
Disbursement of Financial Aid: Loans, Scholarships & Grants
Generally, tuition and fees are paid first
Depending on the stipulations of the sponsor, the balance may be available to the student.
Office of Student Financial Aid
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Office of Student Financial Aid
Managing Student Finances
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Student can receive aid 2 ways
1. Direct Deposit into the student’s bank account
To set up – log on to Services” http://myuw.washington.edu
Go to Direct Deposit Transfer under “Student Personal
2. Through the US mail to the student’s address
A request needs to be made a day in advance of mailing: web: www.washington.edu/students/sfs/ email: [email protected]
telephone: (206) 543-4694
In-person pick up of checks is not available 30
Office of Student Financial Aid
Office of Student Financial Aid
For information read IRS publication 515 IRS web site: http://www.irs.gov/ UW tax web site: www.washington.edu/students/sfs/sao/maintax.html
Tax Questions for Student Fiscal Services Email: [email protected]
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Money 101
Managing Your Finances
Did you know that the average undergraduate owes $3,262 on credit cards? Loan debt can burden students early on. ‘Money 101’ can help! These interactive workshops focuses on several aspects of responsible money management including: credit reports, fraud, credit cards, earnings & savings, budgets and investments.
Contact us! [email protected]
http://www.washington.edu/students/sfs/outreach/index.html
Office of Student Financial Aid
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Official Withdrawal
• student notifies the University that he/she will no longer attend any classes • the institution determines that they will not permit the student to continue
enrollment Unofficial Withdrawal
• student does not officially withdraw but does not continue attending classes
throughout the quarter
• if a student does not pass any classes, he/she is assumed to have unofficially
withdrawn Over Awarded Financial Aid
• student receives more financial aid than he/she is eligible to receive
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Parent Guide
http://www.washington.edu/parents/
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Office of Student Financial Aid
Residency Requirements
www.washington.edu/students/reg/residency.html
To be classified or reclassified as a resident, for tuition and fee purposes, a student must establish a bona fide domicile in the state of Washington primarily for purposes other than educational for the period of one year immediately prior to classification as a resident. A nonresident student who is enrolled for more than 6 credits a quarter will be presumed to be in the state of Washington for primarily educational purposes.
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Office of Student Financial Aid
Office Of Student Financial Aid
105 SCHMITZ HALL Box 355880 Phone: 206-543-6101 Email: [email protected]
www.washington.edu/students/osfa/
Student Fiscal Services
129 SCHMITZ HALL Box 355870 Phone: 206-543-4694 Email: [email protected]
www.washington.edu/students/sfs/
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Office of Student Financial Aid