Paying For Your Education (Freshman Student)

FUNDING YOUR EDUCATION Office of Student Financial Aid & Student Accounts Office

TEXT YOUR FINANCE QUESTIONS TO US!

1. Text MasonPatriots (all one word) to 37607 to join the thread.

To: 37607 Message:

MasonPatriots

2. Text your finance questions related to financial aid and student accounts at Mason.

GEORGE MASON UNIVERSITY

FINANCIAL AID • At this point, you should have submitted your FAFSA and received an award letter. If you have not done so, you can complete your FAFSA at fafsa.gov.

• Submit all additional financial aid forms or documentation, requested by the Office of Student Financial Aid, in order to be offered an award for the upcoming year.

GEORGE MASON UNIVERSITY

IMPORTANT INFORMATION • You must reapply each year for financial aid.

• January 15th is our FAFSA Priority Deadline.

• Email is our primary means of communication. ***Per Federal Regulations, we can only email you (the student) directly regarding financial aid updates or requests.

GEORGE MASON UNIVERSITY

REVIEWING YOUR AID OFFER You may see 3 different types of aid on your award letter including: • Gift-Aid (Grants/Scholarships) • Self-Help Aid (Loans) • Federal Work-Study

GEORGE MASON UNIVERSITY

GIFT-AID • Free money – students do not pay back grants or scholarships.

• Awards granted from federal and state governments, the college or university, or outside organizations.

•

For a list of outside scholarships, visit: www2.gmu.edu/admissions-aid/financial-aid/typesaid/scholarships/outside-scholarship-list

GEORGE MASON UNIVERSITY

SELF-HELP AID (LOANS) Federal Direct Subsidized and Unsubsidized Loans - Loans awarded through your FAFSA. Parent PLUS Loan - Parents can apply for this loan after July 1 for dependent students.

Private Student Loans - Loans taken through private lenders such as banks or credit unions. Student and a cosigner (if needed) can apply after July 1.

For more information, visit: studentaid.ed.gov GEORGE MASON UNIVERSITY

FEDERAL WORK STUDY • Part-time employment opportunity for students • Biweekly paycheck • Earned income does not apply to student’s bill

GEORGE MASON UNIVERSITY

NEXT STEPS • If all of your requirements have been satisfied, your financial aid (finish verification, complete your award acceptance process) will be applied as a pending credit to your student account in July. •

At that point, you can determine if you need additional funding, such as the Parent PLUS loan or an Alternative Private loan, to assist with any remaining balance. o Apply for these after July 1, 2019 for the upcoming academic year.

GEORGE MASON UNIVERSITY

TEXT YOUR FINANCE QUESTIONS TO US!

1. Text MasonPatriots (all one word) to 37607 to join the thread.

To: 37607 Message:

MasonPatriots

2. Text your finance questions related to financial aid and student accounts at Mason.

GEORGE MASON UNIVERSITY

STUDENT ACCOUNTS What is the function of the Student Accounts Office?

• Billing for Tuition, Fees, Housing and Meal Plans • Third Party Billing (529 Plans, VA, Employers, etc.)

• Process refunds based off of charges and aid received GEORGE MASON UNIVERSITY

STUDENT ACCOUNTS

GEORGE MASON UNIVERSITY

METHODS OF PAYMENT • Financial Aid (Incoming) • Payment Plans (Installment Plans) • In Person (Cash or Check) • Online on PatriotWeb • Visa, MasterCard, Discover, American Express • Electronic Check (Preferred Method)

GEORGE MASON UNIVERSITY

AUTHORIZED USERS • For ease in submitting payments and staying up to date on financial information, students should set up their parents/family members as authorized users in the Bill and Payment System. • Authorized users will receive e-bill notices and be able to access student accounts, but are not able to view academic information.

For setup instructions, visit: studentaccounts.gmu.edu/wpcontent/uploads/AuthorizedUserSetup.pdf

GEORGE MASON UNIVERSITY

PAYMENT PLANS • Mason payment plans are available online only. We offer a 2, 3, or 4 payment installment plan for the Fall and Spring semesters. A 2-payment installment plan is offered in the Summer.

• The preferred payment method is the online/electronic check option, which does not charge a convenience fee.

• All payment plans require a $25 contract fee, which is nonrefundable.

• Visit studentaccounts.gmu.edu for deadline information and payment plan setup guides.

• Note: Credit card payments are available online only and require a 2.85% convenience fee.

GEORGE MASON UNIVERSITY

BILL & PAYMENT SYSTEM

GEORGE MASON UNIVERSITY

RECEIVING A REFUND • Direct Deposit (preferred and fastest) o Requires that you sign up and provide a blank check and checking account information.

• Bank Check o This is the default method used if you do not sign up for direct deposit.

GEORGE MASON UNIVERSITY

WITHDRAWING FROM CLASSES • Tuition Liability – Semester Calendar o Add/Drop Period o Important Dates

• Appeal Process – Full withdrawal during the semester o Who/What/When/Where/Why and How?

GEORGE MASON UNIVERSITY

FERPA (CONSENT TO RELEASE) • Students need to complete a FERPA form to allow the Office of Student Financial Aid or the Student Accounts Office to discuss their aid or billing information with their parents, guardians, or other individuals.

• Students can complete and submit the form online. registrar.gmu.edu/forms • The best way for families to stay involved and informed about their student’s progress is to communicate directly with the student.

GEORGE MASON UNIVERSITY

OFFICE INFORMATION Office of Student Financial Aid • • • •

Hours: 9 a.m.-5 p.m. (Monday-Friday) financialaid.gmu.edu Email: finaid@gmu.edu Pages 38-39 in your Orientation Guide

Student Accounts Office • Hours: 9 a.m.-5 p.m. (Monday-Friday) • studentaccounts.gmu.edu • Email: student_accounts@gmu.edu • Page 40 in your Orientation Guide GEORGE MASON UNIVERSITY

AFTER THIS PRESENTATION, I HAVE A BETTER UNDERSTANDING OF THE FINANCIAL AID, BILLING, AND PAYMENT PROCEDURES AT MASON. A.

Strongly agree

To: 37607 Message: [Letter]

B.

Agree

C.

Neutral

D.

Disagree

E.

Strongly disagree GEORGE MASON UNIVERSITY