Understanding Financial Aid and Billing

1. Understanding Financial Aid and Billing Presented by the Student Service Center

2. Understanding Financial Aid and Billing Presented by the Student Service Center

3. Financial Aid • Awards and manages internal and external funds including: • Grants • Loans • Scholarships • Work Study • Provides counseling on • alternative and federal loans.

4. Financial Aid • Awards and manages internal and external funds including: • Grants • Loans • Scholarships • Work Study • Provides counseling on • alternative and federal loans.

5. Financial Services • Generates and updates bills. • Establishes monthly payment plans. • Counsels students on alternative methods of financing.

6. Financial Services • Generates and updates bills. • Establishes monthly payment plans. • Counsels students on alternative methods of financing.

7. Registrar • Sets up and registers students for courses. • Process student transcripts and verification requests. • Makes sure students are clear to graduate. • Maintains academic records. Attend class?

8. Registrar • Sets up and registers students for courses. • Process student transcripts and verification requests. • Makes sure students are clear to graduate. • Maintains academic records. Attend class?

9. International Student Services • Assists international students by making sure that all proper documentation is up to date.

10. International Student Services • Assists international students by making sure that all proper documentation is up to date.

11. Student Service Representatives • SSR’s are stationed at the Student Service Center along with regular counselors from opening until closing. They can help students by: • Answering general inquiries and questions. • Processing incoming documents and payments. • Assisting students with registration for courses. • Responding to phone calls, emails, and voice messages. • Email: ssc@wit.edu Phone: 617-989-4020

12. Student Service Representatives • SSR’s are stationed at the Student Service Center along with regular counselors from opening until closing. They can help students by: • Answering general inquiries and questions. • Processing incoming documents and payments. • Assisting students with registration for courses. • Responding to phone calls, emails, and voice messages. • Email: ssc@wit.edu Phone: 617-989-4020

13. But What You Really Want To Know… How Will I PAY For It?

14. Cost of Attendance Semester Year Tuition Room Meal Plan Health Insurance TOTAL: $12,000 $5,665 $1,160 N/A $18,825 $24,000 $11,330 $2,320 $975 $37,650 ¹ ¹ ² ¹ - Based on double-occupancy room rate. ² - Charge can be waived.

15. Cost of Attendance Semester Year Tuition Room Meal Plan Health Insurance TOTAL: $12,000 $5,665 $1,160 N/A $18,825 $24,000 $11,330 $2,320 $975 $37,650 ¹ ¹ ² ¹ - Based on double-occupancy room rate. ² - Charge can be waived.

16. Cost of Attendance

17. Cost of Attendance

18. Health Insurance Massachusetts law states that all students enrolled either part- or full-time in an institution of higher education must have health insurance. Like many schools, Wentworth pre-bills students a set health insurance charge for the year. This insurance can be waived if a student has prior qualified coverage. For more information visit: www.wit.com/ssc/ser/s_healt.htm

19. Health Insurance Massachusetts law states that all students enrolled either part- or full-time in an institution of higher education must have health insurance. Like many schools, Wentworth pre-bills students a set health insurance charge for the year. This insurance can be waived if a student has prior qualified coverage. For more information visit: www.wit.com/ssc/ser/s_healt.htm

20. Finalizing Your Education To begin reviewing your account, check your financial aid award on LeopardWeb to determine your balance due. To access LeopardWeb… 1 2 Select Leopardweb Log In at http://lconnect.wit.edu

21. Finalizing Your Education To begin reviewing your account, check your financial aid award on LeopardWeb to determine your balance due. To access LeopardWeb… 1 2 Select Leopardweb Log In at http://lconnect.wit.edu

22. Finalizing Your Education • In LeopardWeb you can… • Calculate your budget with your total aid factored in. • Accept or decline your financial aid package. • View your required financial aid documentation and send necessary paperwork back to Wentworth. To view your aid within LeopardWeb click on “Student and Financial Aid”  “Aid”  “Award for Aid Year”  “Award Year 2011-2012”

23. Finalizing Your Education • In LeopardWeb you can… • Calculate your budget with your total aid factored in. • Accept or decline your financial aid package. • View your required financial aid documentation and send necessary paperwork back to Wentworth. To view your aid within LeopardWeb click on “Student and Financial Aid”  “Aid”  “Award for Aid Year”  “Award Year 2011-2012”

24. Finalizing Your Education If your financial aid changes for any reason a revised-award postcard will be sent to your address on file. The revised award will also be immediately viewable on LeopardWeb. For assistance deciding what payment option may work for you, visit: http://borrowsmart.afford.com/

25. Finalizing Your Education If your financial aid changes for any reason a revised-award postcard will be sent to your address on file. The revised award will also be immediately viewable on LeopardWeb. For assistance deciding what payment option may work for you, visit: http://borrowsmart.afford.com/

26. Your E-Award View Available Aid Accept/Decline Aid Accept Either Full or Partial Aid View Required/Missing Paperwork

27. Your E-Award View Required/Missing Paperwork

28. What Do We Mean When We Talk About Aid?

29. Federal Loans Direct Stafford Loan Federal loan taken out in the student’s name and repayable six months after graduation. There are Subsidized (interest is paid by the government while in school) and Unsubsidized (interest is not paid by the government). Direct PLUS Loan Federal loan taken out in the parent’s name. Approval is credit-based with fixed interest of 8.5%.

30. Federal Loans Direct Stafford Loan Federal loan taken out in the student’s name and repayable six months after graduation. There are Subsidized (interest is paid by the government while in school) and Unsubsidized (interest is not paid by the government). Direct PLUS Loan Federal loan taken out in the parent’s name. Approval is credit-based with fixed interest of 8.5%.

31. Federal Loans www.edfund.org

32. Federal Loans www.edfund.org

33. Federal Loans • When you accept your Federal Stafford Loan(s) you will have two requirements before that aid can disburse: • Master Promissory Note (MPN) • Entrance Counseling www.studentloans.gov

34. Federal Loans • When you accept your Federal Stafford Loan(s) you will have two requirements before that aid can disburse: • Master Promissory Note (MPN) • Entrance Counseling www.studentloans.gov

35. Work Study Funds for students who work on campus and earn wages. This money is not applied to your tuition. Applications for student employment occur during the first week of courses.

36. Work Study Funds for students who work on campus and earn wages. This money is not applied to your tuition. Applications for student employment occur during the first week of courses.

37. Alternative Financing • Select a loan provider of your choice. • Adjustable interest rate. • Student is the primary borrower with an eligible co-borrower. • Credit-based approval. • Deferred payments while in school. • Can borrow up to the cost of attendance minus financial aid. Visit “Financial Aid” at www.wit.edu/sscfor more information.

38. Alternative Financing • Select a loan provider of your choice. • Adjustable interest rate. • Student is the primary borrower with an eligible co-borrower. • Credit-based approval. • Deferred payments while in school. • Can borrow up to the cost of attendance minus financial aid. Visit “Financial Aid” at www.wit.edu/sscfor more information.

39. Your E-Bill You can view your charges and financial aid. You can waive or enroll in Wentworth’s health insurance. Understanding You can view your overall balance. You can make online payments directly to your account. Will Make Life a Breeze

40. Understanding Your E-Bill Will Make Life a Breeze

41. Tuition Management System Tuition Management System (TMS) is a third party that Wentworth uses to handle official payment plans. Understanding • Plans are interest-free. • One-time enrollment charge of $75. • Plans can be set up either yearly (9-12 month payment) or by semester (4-5 month payment). • Payment made either online or over the phone with TMS. Your E-Bill Will Make Life a Breeze • www.afford.com

42. Tuition Management System Tuition Management System (TMS) is a third party that Wentworth uses to handle official payment plans. • Plans are interest-free. • One-time enrollment charge of $75. • Plans can be set up either yearly (9-12 month payment) or by semester (4-5 month payment). • Payment made either online or over the phone with TMS. • www.afford.com

43. Bill Due Dates Fall 2011 Spring 2012 Summer 2012 Early August Mid-December Early April

44. Bill Due Dates Fall 2011 Spring 2012 Summer 2012 Early August Mid-December Early April

45. Questions ?

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