Paying for College - Springboard SIUE

Paying for College Office of Student Financial Aid and Office of the Bursar

Remember: MONEY  M – Money Sources • FAFSA (Free Application for Federal Student Aid) • Grants/Scholarships/Loans/Student Employment • Military/Tuition Waivers/College Savings Plans/Personal Savings .

 O – Offer from the University 

.

 N – Need • Cost - Aid = Need •

.

 E – Employment .

 Y – Your Next Steps • Finalize loans (student and parent) • Check out the bill Financial Aid

What MONEY is available?  Grants  Scholarships  Student Employment  Loans  Other  Military  Tuition Waivers  College Savings Plans, etc.

 Payment Plan Financial Aid

FINANCIAL AID - FAFSA True or False: Why should I apply for the FAFSA, I won't get anything anyway!

True = A False = B

Financial Aid

B

FAFSA

 Free Application for Federal Student Aid  studentaid.gov  myStudentAid app

 Guarantees student loan eligibility  Determines need-based aid eligibility, which could be free money Financial Aid

Where is my OFFER? A. In the mail B. My parent/guardian has it C. On my CougarNet account D. All of the above

Financial Aid

OFFER LETTER Summary of aid offered

C

Based on cost of attendance, the FAFSA results and available aid CougarNet Financial Aid > Award > Award for Aid Year > 2022-2023 > Accept Award Offer Accept award yearly Confirm your financial aid Financial Aid

Verification or Aid Offer?

Verification

Aid Offer

 Federal government randomly selects a percentage of students to ensure the information on the FAFSA is correct.  SIUE will notify you if you have been selected. CougarNet  May need to submit documentation to verify (tax documents, W2s, institutional forms, etc.)  Verification must be completed before an aid offer will be issued.

 Listing of all the different types of aid for which the student is eligible. Includes:

Financial Aid

    

Grants Scholarships Work Study Subsidized Loans Unsubsidized Loans

 Based on Cost of Attendance

Do I NEED more money?

A. Yes B. No C. Ask my parent/guardian D. I’m so confused!

Financial Aid

COST

siue.edu/paying-for-college/estimator

Estimate your:  Tuition and fees  Housing  Meal plan  Parking pass Don’t forget:  Supplies  Transportation costs  Miscellaneous expenses

Description Tuition (15 hrs/semester) and Fees * Room and Board

Expense $12,558 $10,271

Supplies Transportation Personal Expenses

$933 $1,420 $1,554

Loan Fees Total

$82 $26,818

* Includes textbook rental fees

Financial Aid

COST – AID = NEED Budget Worksheet

1. Do you have any of these? a) Grants (state, federal, institution) b) Scholarships (institution and/or private) • Send to Financial Aid – will be applied once the money is received

2. What is your leftover cost once you subtract grants and scholarships?

3. Will you use your offered student loans?

4. Do you still need more funding?

Financial Aid

EMPLOYMENT  Student employment is available for all students.  Some students will qualify for the Federal Work Study program, which has benefits when you file a FAFSA.  Jobs are available mid-July for the upcoming Fall term.  Students earn a paycheck.  Student Job Finder  siue.edu/student-employment/student-jo b-finder/ Financial Aid

YOUR NEXT STEPS 1. Accept the aid you wish to use on your CougarNet account (See CougarNet handout).

2. If using student loans (subsidized and/or unsubsidized):  Be enrolled in at least 6 credit hours per term  Complete Entrance Counseling Studentaid.gov  Sign Master Promissory Note 3. If additional aid is needed, here are some additional options:  Parent PLUS Loans – apply at studentaid.gov  Alternative Loans – private loans through borrower’s choice of lender are available to both students and parents/guardians.

Financial Aid

TIPS  Maintain cumulative GPA of 2.00 and complete at least 67% of coursework  Know your institutional scholarship renewal criteria  Monitor your CougarNet Account  Adding or dropping a class can impact your financial aid  Complete FAFSA each year, October 1

Financial Aid

What do you think financial clearance means? a. Someone paid my bill. b. My financial aid is complete. c. I am officially enrolled, my classes are safe, and I can access a variety of facilities on campus for the term. d. All of the above Bursar’s Office

C

Financial Clearance  Is not connected to your:  balance owed  financial aid status

 Check clearance on CougarNet or SIUE app (keep notification on) Ø Not Cleared - need to make payment to save your enrollment  Cleared - classes are locked in  access to campus facilities  meal plan activated Bursar's Office

When is the first payment due to avoid classes being dropped?

a. July 13, 2022 b. August 12, 2022 c. August 22, 2022 d. September 2, 2022

Bursar’s Office

1st Payment Due  eBill – bill notice emailed - July 13, 2022

B

 View – CougarNet, SIUE app and Pay My Bill  At a Glance section summarizes:  Charges  Pending aid  Amount to pay in full  Installment amount: four due dates/$30 a semester  Anticipated refund  First Installment Due: 4:30 p.m., August 12, 2022 – Cleared – Saves your registration Bursar's Office

Why do we need your social security number?

a. Claim your education credit on your taxes b. Issuing refund checks c. Creating an SIUE bill d. All of the above

Bursar’s Office

Social Security Number

 Receive education credit - 1098T

A

 Provide once - CougarNet  Update your phone and address  Pay My Bill and CougarNet to access tax documents Bursar's Office

How often do you need to read and accept the Student Financial Agreement?

a. Only once b. Two times a year c. Once a semester (Spring, Summer, Fall d. Every month

Bursar’s Office

B

Financial Agreement Accept every fall and spring semester You, the student, are agreeing to pay the charges posted to your account Check your bill often – eliminate surprises

Bursar's Office

Who authorizes additional third-party members?

a. This is not an option b. Parents/Guardians c. Anyone d. The student

Bursar’s Office

Authorizing  FERPA  Students own record

D

 CougarNet  Authorization to Release Information  Phone and email – password  Other offices  Pay My Bill – online third-party access  Make payments (e-check or credit/debit card)  Bill (email notices)  1098 T

Bursar's Office

Why should students sign up for direct deposit?

a. Drop a class b. Excess Financial Aid c. Late scholarship received d. All of the above

Bursar’s Office

D

Direct Deposit  Sign up on CougarNet  Anticipated refund released Friday before semester starts  Fall 22: Friday, August 19, 2022  Twice a week after that  Check issued once a month  Add/drop classes  September 2, 2022 – last day for changes

Bursar's Office

Remember the BURSAR  B – Billing (Download the SIUE App) .

 U – Update Personal Information on CougarNet 

.

 R – Read and Accept Student Financial Agreement on CougarNet 

.

 S – Social Security Number for 1098-T (on CougarNet) 

.

 A – Authorization for Third-Party Contact • By phone or email (on CougarNet) • Online account for bill pay (on Pay My Bill) 

.

 R – Refunds (set up direct deposit on CougarNet) Bursar's Office

IMPORTANT DATES Installment Plan  Paying first installment secures course registration

Don’t get behind, meet the deadline!

Friday, Aug. 12

Confirm first installment is paid by 4:30 p.m. CST

Monday, Aug. 22

First day of classes, fall 2022 term

Friday, Sept. 2

Last day to drop 16-week fall classes for a full refund

Friday, Sept. 30

Second installment payment deadline

Friday, Oct. 21

Third installment payment deadline

Friday, Nov. 11

Fourth installment payment deadline

Friday, Dec. 9

Confirm first installment for spring 2023 is paid by 4:30 p.m. CST

Dec. 12-16

Final examinations

Saturday, Dec. 17

Textbook return due by 5 p.m. CST

CONTACT US

Office of Student Financial Aid 2308 Rendleman Hall 618-650-3880 finaid@siue.edu

Office of the Bursar 1101 Rendleman Hall 618-650-3123 bursar@siue.edu

Student Employment 2221 Rendleman Hall 618-650-2563 stuemp@siue.edu

Offices are open Monday-Friday, 8 a.m.-4:30 p.m.

Virtual advising is available Emails – include your full name and student ID number