Office of Student Financial Services. Understanding Financial Aid, Billing, and Student Employment

Office of Student Financial Services Understanding Financial Aid, Billing, and Student Employment Discussion Topics Billing Information and Due Date...
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Office of Student Financial Services Understanding Financial Aid, Billing, and Student Employment

Discussion Topics Billing Information and Due Dates Financial Aid and Your Bill Special Notes on Instructions Just Sent Meal Plan and Health Insurance Options Payment Options Planning for the Future Overview of Student Employment Questions

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Billing Information Parents are strongly encouraged to become Authorized Payers to view and pay bills Paper semester bills are addressed to the student and mailed to the permanent home address in July and December Notifications for online viewing of tuition, room, and board adjustments are sent to students and authorized payers as changes are made to accounts View bills and aid online 24/7 through HomerConnect for most current information

Billing Dates Fall semester due date is August 10 Spring semester due date is January 10 $200 late fee for unpaid bills; plan early

Financial Aid and Your Bill Possible Additional Financial Aid (Memo) o Indicates student might need to complete an action to receive the source

Authorized Aid o All information complete; awaiting disbursement date

Federal Work Study will NOT appear as a credit on the bill (more information to follow) Outside Resources o Fill out and send us “Outside Resources Form” (from our website, under “Documents”)

Special Notes on Financial Aid Awards are considered preliminary until all required documents have been reviewed and confirmed Be sure to submit all requested documents to finalize aid (W-2 Statements, Verification Worksheets, etc.)

Financial Aid Instructions Sent Recent information sent to students: o Direct Loan four step process instructions • On HomerConnect review “Terms & Conditions” tab and select choice to receive electronic communications • Accept loans via HomerConnect • At www.studentloans.gov federal website – Do Entrance Counseling – Do Master Promissory Note (MPN)

o Perkins Loan instructions to Ithaca email • https://www.ecsi.net/prom58

Two Choices In Your Billing Student Health Insurance o Charged in fall for the full year o Students with their own coverage may waive our insurance online at: • www.universityhealthplans.com o Must complete the waiver by August 10, 2016

Meal Plan o Different plans offered; vary in cost and number of set meals and “Bonus Bucks” o Change plan options via HomerConnect o Details to follow in Dining presentation

Payment Options Online payment options o Authorized payer - student may authorize others to view/pay bills o ACH electronic debits from savings or checking account

Checks or cash Higher One Tuition Payment Plan o Monthly payment plan o $55 enrollment fee o www.TuitionPaymentPlan.com

Federal PLUS Loans Federal PLUS Loans are obtained by the parent o Student must submit FAFSA o Interest rate of 6.31% o Origination fee (currently 4.272%) will be deducted o Complete a Direct PLUS Loan Request available on the federal site, www.studentloans.gov o Complete a Master Promissory Note (MPN) at the same site after submitting the Request Form

Alternative Bank Loans Alternative Loans are obtained by the student Private loans available to students with a cosigner Unsecured loans Terms and qualifications vary Explore options by viewing “Financing Opportunities” under “Documents” on our website o Contact vendors directly for more information o o o o

Planning for the Future Financial aid normally remains the same from year to year if your situation remains the same o Decreases may occur: • If the number of undergraduate students attending college and/or household size changes • If there is a significant increase in income

Endowed scholarships o Application process starts in January, 2017; students should visit their school’s website for possible opportunities

Planning for the Future - Deadlines Reapply each year by completing the FAFSA Priority deadline is March 1 for returning students; begin filing in October Aid packages sent via email to returning students beginning in late May once all grades have posted and required documents are received

New FAFSA Process Next Year Beginning in October 2016 new FAFSA filing process (“Early FAFSA”) • Can begin filing in October instead of January • Will use prior year’s tax filing data instead of current tax year data • Complete the 2017-2018 FAFSA using 2015 tax data transferred from the IRS • File your FAFSA information early!

Contact Information We are located: o 2nd Floor of the Peggy Ryan Williams Center

Office Hours and Contact Information: o 8:30 – 4:30 Monday-Wednesday o 10:45 – 4:30 Thursday o 8:30 - 2:30 Friday (summer); 8:30 – 4:30 (year) Contact us at: Phone: 800.429.4275 or 607.274.3131 Fax: 607.274.1895 Email: [email protected] Web: www.ithaca.edu/finaid

Questions?

Student Employment Overview Student employment available to all students • Federal Work Study (FWS) is determined by need and is part of your aid package • Campus Employment is non-need based and is available to all students regardless of need • Difference between the two is funding source

Student Employment Website Visit our website often for great tips! http://www.ithaca.edu/hr/studentemployment • How-To Guides • Step-by-step slideshow on the employment process • Job Database, your source for available jobs • List of necessary paperwork to provide prior to starting work • Payroll information • FAQs

Answers to Common Questions: • FWS in your package is not a guaranteed job; you must seek and interview for a job • Your job earnings are not deducted from your tuition bill; you will be paid biweekly • Job listings are posted on Job Database on our website…start checking the site now! • A $2400 FWS award in your package is approximately 10-12 hours/week of work

Before You Begin Work You must attend a New Student Employee Program (NSEP) session before you can start • Sign up for a session on the website • Sessions are every Thursday at noon during the academic year • Students must bring ORIGINAL documents to complete their I-9 employment eligibility forms and prove their identity (list of acceptable documents on the student employment website)

CONTACT INFORMATION Office of Student Employment is located on the Garden Level of the Peggy Ryan Williams Center in rooms 73 and 74A • 607-274-8000 office number • 607-274-1670 FAX • [email protected] Contacts are Barb Haff ([email protected]) and Donna Veres ([email protected])

Questions?