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Financial Aid 2009-10

Financial Aid 2009-10. Ten Steps to Finalize Financial Aid. Office Staff. Carolyn A. Julian Student Aid Adviser & Veterans Affairs Coordinator czb3@psu.edu Catharine G. Hook Administrative Support Staff cgh11@psu.edu Room 70 Swatara Building 717-948-6307 800-222-2056 Option #1.

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Financial Aid 2009-10

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  1. Financial Aid 2009-10 Ten Steps to Finalize Financial Aid

  2. Office Staff • Carolyn A. Julian • Student Aid Adviser & Veterans Affairs Coordinator czb3@psu.edu • Catharine G. Hook • Administrative Support Staff • cgh11@psu.edu • Room 70 Swatara Building • 717-948-6307 • 800-222-2056 Option #1

  3. 2009-10 Estimated Tuition & Fees • PA Resident Non-PA Resident • Tuition & Fees* • $12,344 - $12,850 $18,420 - $19,238 • Room & Meals* • $8,300 $8,300 • Books & Supplies** • $1,900 $1,900 • *Direct Costs • **Indirect Costs

  4. 2009-10 Free Application for Federal Student Aid (FAFSA) www.fafsa.ed.gov www.pin.ed.gov Keep in a secure place Multiple uses School Code 003329 University Park All PSU campuses StepOne

  5. Step One Con’t • Stafford Loans • Work Study • Answer (Both) to question #31 on FAFSA

  6. Step TwoCampus Based Aid • Supplemental Educational Opportunity Grant (SEOG) • Perkins Loan • Work-Study • No separate application required

  7. Step Two con’t • Student Aid Award Notification sent via email after March 25th. • This notification will list all the student financial aid programs (loans, grants*, work-study, and/or scholarships) for which you are eligible for the fall & spring semesters. • *Separate notification for PA State Grant (PHEAA).

  8. Step Three • Complete request from Pennsylvania Higher Education Assistance Agency (AES/PHEAA). • NEW: Online process--students will receive an email with website & instruction to complete. • Name of College: Penn State Harrisburg • Housing: On/Off Campus or Commuter. • For PA Residents only

  9. Step Four • Complete verification process if selected by University: • SS Card (student & parent) • Selective Service • Citizenship • Estimated filers • Income Validation by PHEAA • Copies of 2008 Tax return • Special Circumstances – Contact Office after April 1, 2009 for the new form • Lost wages, untaxed income, death

  10. Direct Lending • PSU participates in Direct Lending for Stafford, Plus & Grad-Plus loans. • Interest Rate: • Subsidized - varies 6-3.4% until 2011-12 • Unsubsidized – 6.8% • Origination fee 0.5% • Must have PIN#

  11. Step Five Direct Stafford Student Loan • Freshmen $5,500 • Sophomore $6,500 • Junior/Senior $7,500 • Graduate $8,500/12,000 • Independent $4,000/5,000 Disbursed ½ & ½ Answer #31 as both

  12. Step Five Con’t • Students must sign a promissory note for Stafford and Perkins loan. • MPN – www.dlenote.ed.gov • Good for 10 years • Perkins – https://www.studentloans.psu.edu/esign • PIN # used to sign online.

  13. Step Six • Loan Entrance Counseling Required • Stafford Student Loan • Activate PSU Access Account • Students • Loan Entrance Counseling

  14. Step Seven • Academic Scholarship Application • Web-based application • online @ www.hbg.psu.edu • Prospective Student • Financial Aid • Scholarships • GPA = 3.0 or greater • Deadline April 1, 2009

  15. Step Eight • PLUS Loan – Parent borrows on behalf of the dependent student. • Fixed interest rate @ 7.9%. • A 2.5% origination fee deducted from gross amount of the loan borrowed. • Repayment begins 60 days after the 2nd disbursement. • May be deferred contact 800-848-0979 • Set up “Friend of Penn State” eLion Access through student’s eLion account given at FTCAP. After 6/30 apply for PLUS loan at https://www.dlenote.ed.gov. Sign MPN one time only.

  16. Step Nine • Complete Rapid Refund Form • eLion: • Students • Refund Information • Refund available within 48 hours

  17. CONFIRM REGISTRATION Schedule/Registered No Paper Bills Bills on eLion approx. July 10, 2009 Step Ten

  18. Questions

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