Destination Day 2018-2019 Julie Pugliese, Office of Student Accounts Heidi Hunter-Goldsworthy, Director, Office of Financial Aid **Copy of PowerPoint available through MyUMW**
Get Ready To Soar! Located in Lee Hall, Second Floor Student Services Center Hours: 8am to 5pm • Office of Financial Aid • finaid@umw.edu • Financial Aid Link • 540-654-2468 • Office of Student Accounts • umwbills@umw.edu • Student Accounts Link • Frequently Asked Questions • 540-654-1250
Get Ready To Soar! Office of Financial Aid
Office of Student Accounts
• Award and process • Billing federal, state and • Payment Plans institutional financial • Prepaid Educational aid Programs (529, etc) • Manage UMW Foundation Scholarships • Bookstore Vouchers • Student Employment Veteran’s Benefits are certified through the Office of the Registrar, (540)654-1063
Your Flight • E-bills • Eagle-Pay • Other Payment Methods • What is Cost of Attendance? • The Financial Aid Process: Where are you now? • UMW Foundation Scholarships • Student Employment • Accessing Financial Aid through MyUMW Eagle Gateway
E-Bill Notification • Emails are sent to the student and any Authorized Payer they have setup. ***WE DO NOT MAIL INVOICES HOME***
• Fall E-bills go out mid-July • Spring E-bills got out mid-November • Summer E-bills go out mid-April • Students are required to setup Parents/Guardians as an Authorized Payer in order to receive an email.
Authorized Payer vs. Delegated Access Information Access given to third party by student
Authorized Payer • Authorizes SA staff to discuss student bill with third party • Third party access to Eaglepay • Receive email reminders of payment due dates • Make payments via EaglePay • Sign up through Eaglepay
Delegated Access • Allows OFA to discuss FA with third party • Also allows discussion of final grades with third party • Third Party Access to Financial Aid and final grade information through MyUMW • Sign up through MyUMW
EaglePAY EaglePAY - Online billing and payment system. • MasterCard, American Express, Discover, VISA • Please Note: Credit cards are subject to 2.75% service fee. • E-Checks have no service fees
Payment Methods • We Accept Virginia College Saving pla ns • VPEP (Virginia Prepaid Education Plan)• VEST (Virginia Education Savings Trust) • COLW (CollegeWealth)
• Out of State Savings Plans • Post 9/11 and other Veteran Benefits • Federal Loans • Outside Scholarships
Payment Plans •Fall/Annual Plans open in late May •Spring Plans open in Mid-October
Cost to Participate •$40/$60 semester enrollment fee, based on date of enrollment •$60/$90 annual enrollment fee, based on date of enrollment •Automatically deducted the 5th of each month. •Please Note: Always review your UMW account status as well as the payment plan with Nelnet each month to be sure your balance is covered.
Refunds •Mailed to UMW campus Mailbox •Direct Deposit is recommended
Cost of Attendance In-State Student
Out-of-State Student ON CAMPUS
Tuition
$6,212
ON CAMPUS Tuition
$21,916
Education and General Fees
2,388
4,013
Auxiliary Fees
4,013
Meal Plan Allowance (Average)
4,003
Meal Plan Allowance (Average)
4,003
Housing Allowance (Average)
7,235
Housing Allowance (Average)
7,235
Education and General Fees
2,388
Auxiliary Fees
CHARGES BILLED TO STUDENTS:
$23,851
CHARGES BILLED TO STUDENTS:
$39,555
Books and Supplies
$1,200
Books and Supplies
1,200
Personal Expenses
1,460
Personal Expenses
1,460
Transportation
1,739
Transportation
2,005
Direct Loan Fees TOTAL COSTS
40 $28,290
Direct Loan Fees TOTAL COSTS
40 $44,260
Financial Aid Timeline: Where are we now? 1 2 3
4
• FAFSA filed by February 1st priority deadline • Can still file a FAFSA but some aid may be limited
• Award Letters mailed/emailed • Delegated Access/Authorized Payer access given by students for parents
• Verification (Document requirements are listed on the Award letter) deadline- June 1 • Copies of 2016 Tax Information (update: IRS Data Retrieval Tool/Tax Return Transcript)
• • • •
Direct Subsidized and Unsubsidized Loan Web Accept/Decline Plan payment strategy Initiate Parent Plus/Private Loan Provide Electronic Consent to receive emails
Accepting Federal Loans • Federal Direct Loans are in student’s name • Do not require creditworthiness • Maximum Amount Available • $5,500 – Freshmen $3500 Sub/$2000 Unsub • $6,500- Sophomore $4500 Sub/$2000 Unsub • $7,500- Junior, Senior $5500 Sub/$2000 Unsub • $4,000-$5,000 additional Unsub for independent students or students whose parents are denied for Parent Plus Loan. • Accept through MyUMW portal • Complete Direct Loan Entrance Counseling and Master Promissory Notes (MPN) at studentloans.gov
UMW Scholarships • UMW Endowed Foundation Scholarships: • Apply via Online application • Due May 1st each year • Application re-opens if scholarships become available • Variety of criteria based on donor wishes • Departmental Scholarships: • Must declare a major • Apply through UMW Online Application
UMW Scholarships • Admissions Merit Scholarships • Awarded during Admissions process • Must maintain academic requirements • 8 semesters of eligibility • Must live on campus all four years • UMW General Scholarship • Can be funded by Foundation Scholarships • Scholarship name may change if awarded a Foundation or additional Admissions scholarship
Private Scholarships • • • • •
Community Organizations Corporations High Schools Parents’ Employer The scholarship is not added to the students account until the actual check is received by the University. • Please ask donor to include your student ID number and name when sending the scholarship to UMW.
Student Employment • Approximately 710 on-campus jobs • Applications through Careers Student Employment • www.careers.umw.edu
• Starts at minimum wage • Approximately 10 hours/week • Jobs available: • Student Services, Library, Bookstore, Athletics, Lab Aide, Financial Aid Office, Admissions, etc. • Encourage students to reach out directly to desired employer!
Title IV Authorizations and Electronic Consent • Title IV Authorizations • Allowing Federal Financial Aid refund dollars to be used to pay prior year and miscellaneous charges outside of tuition, fees, room and board. • Student Refunds from Direct Loans • Parent refunds from Parent Plus Loans • Electronic Consent • Allows the Office of Financial Aid to communicate federal notices and disclosure information via UMW email system. • Students are presented with the consent question in the MyUMW portal and are required to answer. • A yes answer allows information to go out. A no/non-answer will result in notifications and disclosures being sent to the students campus mailbox.
How to view financial aid information through MyUMW Eagle Gateway:
How to view financial aid requirements and award through MyUMW Eagle Gateway: UMW Student
View your Financial Aid Requirements through MyUMW Eagle Gateway: Requirement Status 1. Outstanding: the Office of Financial Aid has not yet received your document. 2. Received Not Yet Reviewed: the Office of Financial Aid has received your document; however, it has not yet been officially reviewed by the director. 3. Received and Satisfied: the Office of Financial Aid has received your document, and it has been officially reviewed by the director. Keep in Mind: Updates to FAFSA could trigger additional documentation requirements.
Satisfactory Academic Progress (SAP) • Federally regulated process • Maintain GPA while progressing in a timely manner • Checked at the end of each semester • Semester Completion rate (must be 70%) • Overall GPA • Maximum Timeframe (150% of program) • Warning Semester • Financial Aid then suspended until back on track • Appeal Process
Course in Program of Study (CPOS) • Federal financial aid may only be used to pay for the credits obtained in a first bachelor’s degree. • This affects students in double majors, and students entering with AP or IB credits. • CPOS requires close monitoring with an academic advisor regarding scheduling of coursework. • Once the student completes the requirements for their Bachelor’s degree (120 credits), federal and state financial aid eligibility will be affected.
Get Ready To Soar! Located in Lee Hall Student Services Hours: 8am to 5pm • Office of Financial Aid • finaid@umw.edu • Financial Aid Link • 540-654-2468 • Office of Student Accounts • umwbills@umw.edu • Student Accounts Link • Frequently Asked Questions • 540-654-1250