Direct Costs Per Semester

2. Direct Costs Per Semester • * 2008-09 academic year cost is $107/credit hour • # approximate

3. The FAFSA • Free Application for Federal Student Aid • Must be renewed annually • Should be completed after parents and students file their taxes • Determines eligibility for federal and state based grants and student loans • www.fafsa.ed.gov

4. Do I Have To Provide Parent Information? • Were your born before January 1, 1985? • As of today, are you married? • Do you have children who receive more than half of their support from you? • Do you have dependents (other than children or spouse) who live with you and who receive half of their support from you? • Are both of your parents deceased, or are you or were you a ward/dependent of the court? • Are you currently serving on active duty? • Are you a veteran of the U.S. armed services?

5. The EFC • Expected Family Contribution • An index used to determine what federal aid a student can receive • 4041 – EFC = approximate Pell Grant • The EFC formula includes all sources of student and parent income, number of people in household, number of people in college • Data elements in the formula are weighted differently

6. Awarding Financial Aid • Upon receipt of the FAFSA, Kirkwood may request additional information from the student • It is important that all requests for information be responded to as quickly as possible • Upon completion of the file the student is mailed a financial aid award notification • Award is posted on EagleNet

7. What is Financial Aid? • Grants • Scholarships • Work-study • Loans EVERYONE QUALIFIES FOR SOMETHING!

8. Grants • Federal Pell Grant-awarded to students with an EFC below 4041. • Federal Supplemental Educational Opportunity Grant (SEOG)-awarded to students with a 0 EFC based upon the date their FAFSA was received. These funds are limited. • Academic Competitiveness Grant (ACG)-awarded to students that have completed a rigorous high school curriculum. • Iowa Vocational Technical Grant-awarded to vocational students with an EFC between 601-5000.

9. Scholarships • Kirkwood’s Foundation awards over 1 million dollars in scholarships annually • Deadline for 2009-10 is March 31, 2009 • First awarding period recipients are notified May 1 • www.kirkwood.edu/scholarships • A well written essay is key to getting a scholarship

10. Work-Study • Awarded to students who indicate an interest on their FAFSA based upon the date their FAFSA was received. Students must demonstrate financial need. • Like any other job, students must interview with their work-study supervisor. Positions are not guaranteed.

11. Student Loans • FederalSubsidized Stafford Loan-awarded to students who demonstrate financial need. The government pays the interest while in school. Interest rate in repayment is 6.0%. • Federal Unsubsidized Stafford Loan-awarded to students no need. Students are charged an interest rate of 6.8%. • Federal Perkins Loan-awarded to students that are Pell Grant eligible. The government pays the interest while in school. Interest rate in repayment is 5%.

12. Student Loans (cont.) • Federal PLUS Loan-loan made to parents of dependent students for their student’s educational expenses. The fixed interest rate is currently 7.9%. Repayment can be deferred while the student is enrolled at least half time. • Private Loan-should only be used after exhausting all federal loan options. Most interest rates are variable and are much higher than federal loan interest rates. For a comparison of private loans go to: www.simpletuition.com/kirkwood

13. EagleNet • Serves as a personalized web-portal of academic information • Billing is done through EagleNet • Grants are applied to student accounts ten days prior to the start of classes • Students can see their charges and financial aid refund under My Bill by Term • www.kirkwood.edu/eaglenet

14. Award Notification Letter • Once we have completed your financial aid file, you are mailed an award notification letter which directs you to EagleNet to view your financial aid award letter. • Keep in mind that awards are based on full-time enrollment. Grants are pro-rated and you must be registered for at least six credit hours for a student loan.

16. My Bill by Term

17. First Time Borrowers • Students must complete the following three step process in EagleNet to activate their loan: 1- Stafford loan request 2- Sign promissory note 3- Entrance counseling • Per federal regulations new students’ disbursements will be made 30 days into the first semester – September 17th, 2008

18. Private Aid • Students can inquire about private scholarships with their high school guidance counselor, employer, church, and local civic organizations • Students should never pay money to complete a scholarship application • www.fastweb.com

19. FACTS Tuition Payment Plan • Kirkwood offers an interest free tuition payment plan for students • Students enroll in the payment plan in EagleNet by selecting “Tuition Payment eCashier” • Monthly payments are deducted via EFT/debit card or may be charged to a credit card • $25 enrollment fee

20. Keeping Your Financial Aid • Federal regulations require students to maintain satisfactory academic progress to ensure that they are making progress towards their degree. • Two rules to remember, completion percentage and cumulative G.P.A. • More information on Kirkwood’s satisfactory academic progress policy is available at: http://www.kirkwood.edu/financialaid

21. Taking Care of Business • Communicate with your instructors • Take advantage of tutoring services • Always know where you stand • Three simple steps to be successful at Kirkwood • Attend every class • Complete every assignment • Honestly study

22. Questions Financial Aid Office 2ndFloor Kirkwood Hall 319-398-5485 financial@kirkwood.edu www.kirkwood.edu/financialaid