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David Geffen School of Medicine At UCLA Financial Aid 101

David Geffen School of Medicine At UCLA Financial Aid 101. Gloria Pinedo Financial Aid Director Student and Resident Financial Services Orientation 2013. Office Location: 17-253 West, CHS Office Number: (310) 825-4181 Email: fao@mednet.ucla.edu Website: www.medstudent.ucla.edu/

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David Geffen School of Medicine At UCLA Financial Aid 101

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  1. David Geffen School of MedicineAt UCLAFinancial Aid 101 Gloria PinedoFinancial Aid Director Student and Resident Financial Services Orientation 2013

  2. Office Location: 17-253 West, CHS • Office Number: (310) 825-4181 • Email: fao@mednet.ucla.edu • Website: www.medstudent.ucla.edu/ Click “Offices” and “Financial Aid” • Counselors: • Vanessa Ornelas, 1st and 2nd Year Students (310) 794-5476 vornelas@mednet.ucla.edu • Patrick Julian, 3rd and 4th Year Students (310) 794-5482 pjulian@mednet.ucla.edu Before We Get Started…

  3. DGSOM Financial Aid Application Email • Entering Students – NO DEADLINES • Continuing Students – deadlines in March / April • Application Options: A. SOM Scholarship, and Federal Direct Loans B. Direct Loans Only • Check status on MyFAO: • www.fao.ucla.eduand click on MyFAO to login to Document Tracking • Missing forms can be downloaded from Document Tracking • Complete application → Need Analysis and Awarding Financial Aid Application

  4. How need is calculated go to: • www.medstudent.ucla.edu, click on “Financial Aid” and then “Understanding Need Analysis” Need-based scholarships, loans and Direct Loans are awarded: • To those that provided parent and student information and are deemed eligible “Direct Loans only” are awarded: • To those that provided student info only • Or, were ineligible for need-based scholarship Need Analysis and Awarding

  5. How we award your financial aid (in this order): • Gift aid (if eligible) • Campus based loans (if eligible) • Direct Unsubsidized • Grad PLUS * Total package of aid cannot exceed the Financial Aid Budget Direct Loan award amounts: • Unsubsidized, whichever is less: • Amount requested on Institutional Application, or • $42,722 / $44,944 annual max, or • Up to the budget • Grad PLUS: • Up to the budget, after annual Unsub is awarded Awarding

  6. Your “official” financial aid award letter • You’re emailed when an eFAN is available to complete and sign on-line • Access your eFAN(s) at www.fao.ucla.edu - click on MyFAO to login • Accept, reduce, or decline each award, and electronically sign your eFAN; loans will not disburse unless accepted • Each time your award package changes, a revised eFAN will be available to complete and sign In addition, the following is required before your loans will disburse… Electronic Financial Aid Notification (eFAN)

  7. To complete your DL MPN: • Go to: www.studentloans.gov • Click on "Sign In" • Enter your SSN, first two letters of your last name, birth date, and FAFSA pin • Click on "Complete MPN" • Click on “Subsidized/Unsubsidized” • If you’ve been awarded Grad PLUS, you’ll need to complete an additional MPN for Grad PLUS Direct LoanMaster Promissory Note (MPN)

  8. Perkins Loan Prom Note and Documentation • Can be completed on line at http://www.loans.ucla.edu/epnote.html • Carefully read and follow the instructions • Problems, call Student Loans Services at (310) 825-9864 University Loan Prom Note and Paperwork • Mailed to you from Student Loan Services (SLS) • Complete and sign all paperwork • Co-signer’s signature needs to be notarized* • Return in envelope to SLS or FAO (17-253 West CHS * Campus Notaries:www.directory.ucla.edu/notary.php Complete your Campus-based Loan Promissory Note

  9. Must be done before loans will disburse • It’s a Federal requirement • It’s done on-line at: www.loans.ucla.edu/dms.html • Complete all sections (Direct Loan Unsub, Perkins, Grad PLUS) • Once completed, the SLS Office will flag the system to release your loan funds Complete your Loan Entrance Counseling Session (iGRAD)

  10. Into your UCLA Bruinbill account • Each semester (fall and spring) • To pay tuition and fees and other debt owed to the school • You can view your Bruinbill on URSA at: www.ursa.ucla.edu Financial Aid Disburses…

  11. Left over aid aftertuition and fees (and other debts on Bruinbill) are paid in full • Used to pay for rent (Weyburn), food, books, computer, etc. • Can get to you 2 ways: • BruinDirect into your personal bank account • Set up BruinDirect on-line via your Bruinbill • Check mailed to your current address • Update your address via URSA - www.ursa.ucla.edu Financial Aid Refund…

  12. To continue receiving financial aid and to maintain eligibility, you must: • Reapply annually and meet application deadlines. • Demonstrate financial need. • Not be in default on federal student loans, and not owe a refund on any state or federal educational grant. • Be enrolled in at least half-time status (DGSOM students are considered full-time). • Maintain Satisfactory Academic Progress (SAP) • Pass all coursework / exams and progress to the next year (qualitative measure). • Complete your program within the normative time frame (quantitative measure). • If you drop below ½ time status or go on leave during the school year, you will be billed for “unearned” financial aid (a federal regulation: Return to Title IV). • If you fail to make SAP, you will be on financial aid probation and your aid suspended until you have remediated and are back on track to complete the degree. • Or appeal the suspension to receive aid during probation. • During suspension or if the appeal is denied, you are ineligible for all federal and University aid but may apply for Private Loan Funds. • View both our SAP and R2T4 Policies on our website under “Maintaining Eligibility” Maintaining Eligibility

  13. “Autopay” debits (once a month) your personal bank account to pay charges posted on your Bruinbill Account • To work, there has to be enough funding in your personal bank account to cover charges posted anytime throughout the semester • Financial aid recipients should not sign up for Autopaymainly because the tuition and fee bill can be posted weeks before aid is allowed to disburse – causing an overdraft and bank fees. BruinbillAutopayNot Recommended for Financial Aid Recipients

  14. Total “cost of attendance” • Maximum amount of financial aid for the school year • Assigned based on: • Year in school – 1st, 2nd, 3rd, 4th year • Where you’ll live during the school year • Off Campus – in an apartment or Weyburn • Commuter - with parents • Includes education and living costs for the student only, not dependents • Covers costs incurred during the enrollment period only • Developed using: • Set costs - such as tuition, fees, books, parking, Hep B vaccines… • Cost averages - derived from student surveys and cost analysis - such as rent , utilities, food, clothing, etc. Standard StudentFinancial Aid Budget

  15. Request in writing additional Direct Loan • Unsubsidized and Grad PLUS • Can borrow up to the Student Budget or annual loan limit, whichever is less • Request an allowable increase to the Student Budget • Medical/Dental expenses not covered by insurance • Childcare expenses when the other parent works • Add-ons to the budget are covered by loan • Appeal in writing for reevaluation of your financial need • For additional scholarship funding to reduce borrowing • If your spouse or parents’ income, assets or household have changed since applying for aid If Your Financial Aid Is Not Enough

  16. Will supplement your need-based scholarship and reduce borrowing • Look at “Pennies From Heaven” on our website (our compilation of outside agencies) • Watch for emails from Patrick about outside scholarship opportunities • Search the web for free scholarship information Research and Apply forOutside Scholarships

  17. Advance against your financial aid until it disburses • Interest-free Loan • Available 1 week before financial aid disburses for the term, or on a case-by-case basis if aid is delayed • For up to $2,000 (or to cover tuition and fees on a case by case basis) • 2-part application process: • Complete E-Loan Application at FAO: 17-253 West CHS • Take signed application to Student Loan Office: A227 Murphy Hall • Later e-loan is posted on Bruinbill to be paid: • Automatically when financial aid disburses • By you on line or in person if aid didn’t pay automatically Advance Against Financial Aid Related ExpensesAKA Emergency Loan (E-Loan)

  18. Postpones repayment on past Stafford/Direct, Perkins, PLUS loans • Requires that you’re enrolled / attending med school • Defers repayment, and interest does not accrue on “sub” loans • May apply to your university and/or private loans • To get one: • Print a deferment form • Complete your portion and bring to the FAO: 17-253 West CHS • We’ll certify and sign/stamp it • You mail it to the loan servicer • Automatic deferment via the “Clearinghouse” • UCLA updates DOE/servicers quarterly when fees are paid in full • When in doubt, call your loan servicer to verify deferment status In-School Student Loan Deferment

  19. UCLA Campus Residence Deputy • UCLA Registrar's Office1113 Murphy HallBox 951429Los Angeles CA 90095-1429(310) 825-3447 • E-mail: residencedeputy@registrar.ucla.edu • Hours: Monday–Friday, 9 am to 4 pm Pacific Time • Student’s Perspective – Caleb Wilson Class of 2016 Establishing CA ResidencyFor Tuition Purposes

  20. Welcome to DGSOM Feel free to stop by anytime! Questions?

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