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Govs R.O.W. 2014 Freshmen

Financial Aid. Govs R.O.W. 2014 Freshmen. Applying for Financial Aid www.fafsa.gov. Opens January 1 st 2014-2015 FAFSA applies to: Fall 2014 Spring 2015 Summer 2015 Can be completed before taxes have been filed Use estimated figures

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Govs R.O.W. 2014 Freshmen

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  1. Financial Aid Govs R.O.W. 2014 Freshmen

  2. Applying for Financial Aidwww.fafsa.gov • Opens January 1st • 2014-2015 FAFSA applies to: • Fall 2014 • Spring 2015 • Summer 2015 • Can be completed before taxes have been filed • Use estimated figures • Make corrections with accurate figures after taxes are filed • Must be completed every year

  3. VerificationYour Response is Urgent! • Random selection; notified by e-mail • Verifies the FAFSA is correct • You cannotbe awarded until Verification is complete • If selected, we need: • Verification Worksheet (completely filled out) • 2013 IRS Tax Return Transcripts—not Tax Returns • Can be loaded into FAFSA with IRS Data Retrieval • Can also be found at irs.gov • Other documents as requested • Check your AP e-mail even after turning in documents!

  4. Financial Aid AwardAnnounced as early as April • Can be checked through: • AP OneStop • AP e-mail • If you receive outside resources: • Must Report it to Financial Aid using the Additional Resources form • Scholarships • Discounts • Benefits • This can prevent over-awarding on your account (over-awards sometimes result in billings to the student)

  5. Cost of AttendanceA tool for Financial Aid • Located on OneStop under Award Overview • Not your billing statement • Calculated as the average amount students need for the following all added together: • Tuition & Fees • Books & Supplies • Room & Board • Misc. Expenses • Used as your budget for financial aid

  6. Tennessee Hope Lottery Scholarship www.collegepaystn.com • GPA Requirements • 2.75 at 24 and 48 attempted credit hours • 3.0 beyond 48 attempted hours • Enrollment Requirements • If you registered full-time, stay at full-time • Failure to remain at full-time could result in a permanent loss of the scholarship • If you lose your lottery scholarship: • Appeal – Only with extenuating circumstances • Regain – Every 24 attempted credit hours

  7. Satisfactory Academic Progress • Financial Aid is based on: • GPA • Completion rate of classes (Pace) • Overall progress toward graduation • Failure to maintain satisfactory academic progress will result in the cancellation of financial aid

  8. Readiness Checklist

  9. Authorization FormOptional • Allows excess financial aid to be applied to: • Bookstore debit program • Health services • Parking tickets • Etc. • May be completed online at: • AP OneStop • Web Self Service • Financial Aid • Eligibility • Authorization Form

  10. Enrollment IntentionsNeeded every year • Required so our office plans for the correct budget • Financial Aid is based on: • Enrollment hours • Length of coursework • Attendance throughout the year • The Enrollment Intentions form can prevent over-awarding on your account (over-awards sometimes result in billings to the student)

  11. Enrollment Intentions

  12. Enrollment Intentions

  13. Enrollment Intentions

  14. Enrollment Intentions

  15. Enrollment Intentions

  16. Enrollment Intentions If you are not attending 12 hours Fall and 12 hours Spring, say “No.”

  17. Enrollment Intentions – “No.” Failure to enroll the hours you indicate could result in a billing to your account.

  18. Terms & ConditionsAlso needed yearly • Reminds you of important rules regarding aid • Located at: • Onestop.apsu.edu • Web Self Service • Financial Aid & Veteran’s Affairs • Eligibility • Terms and Conditions

  19. Loans Accepting your offers • The offered amount is for the entire aid year • Whatever you accept will automatically be split between the Fall and Spring semesters • Summer semesters are optional and therefore are not built into OneStop for accepting loans • If you plan on attending in summers, you need to leave yourself enough loans remaining to be applied to the summer semester

  20. LoansSteps to Take

  21. Loans

  22. Loans

  23. Loans Whatever you accept will split between Fall and Spring If you accept a partial amount, the remainder can be picked up later through an Adjustment Form or in the Summer semester

  24. Readiness Checklist Revisited

  25. LoansAdditional Requirements • Direct Loan Entrance Counseling • Reviews all loan regulations • Master Promissory Note • You affirm that you are responsible for repaying your loans • Both must be completed at studentloans.gov • Loans will not pay out unless these requirements have been completed • These are only required the first time you accept loans, and are good for 10 years afterward

  26. Debt ManagementBorrow Responsibly • Aggregate Loan Limits – the total you can borrow • Undergraduate Dependent = $31,000 • Undergraduate Independent = $57,500 • Graduate = $138,500 • Maxing out on loans each year and taking more than 4 years to graduate could cause you to exhaust your limits BEFORE you graduate. • The average loan debt upon graduation: $25,000

  27. Any Questions? • Ellington Building, Room 216 • apsu.edu/financialaid • (931) 221-7907 Welcome to APSU!

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