Transcript Make Neumann Your Choice…  Visit the website www.fafsa.ed.gov Not www.fafsa.com Not www.fafsa.org.

Make Neumann Your Choice…
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Visit the website www.fafsa.ed.gov
Not www.fafsa.com
Not www.fafsa.org
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Both the student and
parent must apply for a
PIN at www.pin.ed.gov
• Used to sign the FAFSA
electronically
• Will be used by students
and parents throughout
the aid process, including
subsequent school years
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Neumann’s federal school
code is 003988
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Calculates a family’s EFC (Expected Family Contribution)
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Determines the student’s eligibility for federal, state
and institutional financial aid
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Allows the student to apply for funding through the
Federal Direct Loan Program
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Determines the student’s eligibility for certain grants
and scholarships
 Know
your state grant deadlines
• Delaware – April 15th
1-800-292-7935 or DDOE
(Delaware Department of Education)
• Pennsylvania – May 1st
1-800-692-7392 or pheaa.org
(Pennsylvania Higher Education Assistance Authority)
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Participation is voluntary.
Reduces the documents requested by the financial aid office.
Some people are unable to use the DRT.
• Those who filed an amended tax return
• Those with no SSN
• Students or parents married but filed separately
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Financial Aid Offices are most times unable to accept a copy of a
tax return.
Tax return transcripts from the IRS are required if tax
information is requested for verification and DRT is not used.
• You may request a copy of your tax return transcript at
www.irs.gov/transcript. Call the IRS at 1-800-829-1040 with any
questions
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All requested information must be submitted to the
Office of Financial Assistance as soon as possible to
ensure timely processing of your final award letter.
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The verification process is not complete until all
information is received and reviewed. Please note that
additional documentation may be requested at any
time during the process.
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Please only submit the information that is requested.
Federal Pell Grant
Federal SEOG
State Grant
Federal Work Study
Neumann Grant
Funds are earned by working in a campus department.
Award is not deducted from your tuition bill.
Students can work no more than 8-10 hours per week,
depending on department needs.
Students are paid bi-weekly.
Original documents that may be submitted for
application:
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Driver’s License
Birth Certificate
Social Security Card
Photo Student ID Card
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Federal Direct Student Loans (FDL) - guaranteed loans
• 14-15 interest rate is 4.6% with a 1.073% origination fee, the rate for
15-16 will be determined in May 2015 per the loan certainty act
guidelines and will not exceed 8.25% for undergraduate loans.
• Subsidized loan is based on need
(government pays the interest while student in school)
• Unsubsidized loan is not based on need
(option to pay interest while student in school)
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Student is required to complete Entrance Counseling and a
MPN (Master Promissory Note) at www.studentloans.gov
The balance or the “gap” is the amount of money
owed after financial aid has been applied to the
direct cost. Direct cost includes tuition, fees,
housing and meals. Options for managing the
balance are:
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Federal Parent Plus Loan
Alternative Loan
HES Payment Plan/University Semester Payment Plan
Payment in full
Parents may apply for a Federal Parent Plus Loan at
www.studentloans.gov.
14-15 interest rate is 7.21% with a 4.292% origination fee, the
rate for 15-16 will be determined in May 2015 per the loan
certainty act guidelines.
A credit check is required.
If credit is denied, the student is eligible for an additional
unsubsidized Direct Loan.
Repayment starts 6 months after the first disbursement or the
parent may defer payments while the student is in school for up
to six months after student leaves school.
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A Private Alternative loan is based on credit.
Most students need a credit-worthy co-signer that does not
have to be the parent.
Lenders are offering both fixed and variable interest rate
loans without any fees
The better your credit the better your rate
Several lenders also give a discount on the interest rate***
for existing customers
It is in your best interest to research all your options to
ensure you are getting the most competitive product to meet
your educational expenses
Visit www.elmselect.com for a commonly-used list of lenders
***Interest rates are subject to change at the discretion of the lender.
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Click on the “Outside Grant/Scholarship” link on
the Office of Financial Assistance homepage for
outside scholarship opportunities.
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Contact local banks, churches and other
organizations about scholarship opportunities.
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Email the Office of Financial Assistance at
[email protected] to see if any other
scholarships have become available.
Main Office Number 610-558-5521
Fax Number 610-558-5652
Email [email protected]