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Education is Affordable at UNM

Education is Affordable at UNM. www.fafsa.gov. UNM’s Priority Deadline is March 1st. Types of Financial Aid. Scholarships Grants Student Employment Loans. Scholarships. Eligibility requirements vary—commonly awarded for financial need, academic, athletic, or artistic skill

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Education is Affordable at UNM

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  1. Education is Affordable at UNM

  2. www.fafsa.gov UNM’s Priority Deadline is March 1st

  3. Types of Financial Aid • Scholarships • Grants • Student Employment • Loans

  4. Scholarships • Eligibility requirements vary—commonly awarded for financial need, academic, athletic, or artistic skill • May require FAFSA • Deadlines and application procedures vary • Beware of scholarship scams • Where can I find scholarships? • www.fastweb.com • http://collegeboard.com/student/pay • http://www.collegenet.com/mach25/app

  5. http://scholarships.unm.edu/

  6. Bridge to Success Scholarship* • Requirements: • NM Resident • Graduate from NM High School or GED • Min3.0 GPA, 23 ACT(1070 SAT) • Full-time student • 1st semester after graduation from H.S or • 1st semester after obtaining GED (minimum 530 score) • Known as Qualifying semester (2.5GPA,15hours) • Award =$1500 *Subject to Change

  7. Success Grant* • Requirements: • NM Resident • Graduate from NM High School or GED • Completed FAFSA • Full-time student • 1st semester after graduation from H.S or • 1st semester after obtaining GED (minimum 530 score) • Known as Qualifying semester (2.5GPA,15hours) • Award =$1000 *Subject to Change

  8. Legislative Lottery Scholarship* • Lottery: • Begins 2ndsemester • 7 consecutive semesters if qualified • Award = Tuition Only (Fees Not Included) • Requirements to Maintain: • Cumulative GPA of 2.5 • Complete 15 credit hours • No repeat coursework • Must be registered FULL TIME by 2nd week of classes *Subject to Change

  9. Tribal Scholarships • What UNM needs: • Tribal Financial Need Analysis (FNA) • Submit request to financial aid office • Be aware of your tribe’s deadlines • What Tribe may request: • Complete Tribal Higher Education Application with your Tribe • Certificate of Indian Blood (CIB) • Academic Transcripts • Letter of Admission

  10. Grants • Do not have to be paid back • Are awarded on the basis of financial need • Federal Pell Grant • Federal Supplemental Educational Opportunity Grant (SEOG) • State Student Incentive Grant (SSIG)

  11. Student Employment • Allows students to earn money to help pay educational costs • Some Student Employment jobs require a work study award • Work Study (Need-based & No-Need) • Work Study Requires a FAFSA https://unmjobs.unm.edu

  12. Student Loans • Money students or parents borrow to help pay educational expenses. • Repayment usually begins 6 months after graduation or when you stop attending • Amount of eligibility determined by grade level • Subsidized Stafford – 6.8% interest rate* – no interest accrues while student in school at least ½ time. • Unsubsidized Stafford – 6.8% interest rate – interest accrues immediately • Parent Loan (PLUS) – Up to COA, credit based, parents only apply. 7.9% interest rate *Subject to Change

  13. Direct Loans https://studentloans.gov

  14. Direct Loans Completing Master Promissory Note: • You will need FAFSA PIN number https://pin.ed.gov • 4-step process • Should take about 30 minutes • Will need two personal references • Loan Entrance Counseling for first-time borrowers only

  15. Log into my.unm.edu

  16. LoboWeb – Checking your status

  17. LoboWeb – Checking your status

  18. Accepting Awards on LoboWeb Step 1 – Use the drop down menu to select correct aid year Step 2 –Select the ‘Accept Award Offer’ tab Step 3 – Select your decision from the ‘Accept Award’ column, Click OR to Accept you may also: Click ‘Accept Full Amount All Awards’ Step 4 – Verify your decision in the ‘Status’ column next to the fund description

  19. Satisfactory Academic Progress • Complete 67% of classes you attempt • Maintain a 2.0 cumulative GPA • Complete a degree within 150% of the required hours for your degree To continue to receive Financial Aid, you must meet certain requirements:

  20. Not Graduating On-Time Costs $$$$$$! If you graduate in 6 years instead of 4, it will cost you $70,329. If you graduate in 7 years instead of 5, it will cost you $74,108. Taking extra time to graduate will cost you approx. $40,000 per year.

  21. http://finaid.unm.edu

  22. http://studentinfo.unm.edu

  23. @UNMFinAid

  24. Student Financial Aid Office http://finaid.unm.edu Scholarship website http://scholarships.unm.edu Student Information/Chat http://studentinfo.unm.edu Or Call: UNM All Access: 505-277-8900 or 1-800-CALL-UNM

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