PAYING FOR COLLEGE YOUR GUIDE TO MONEY-RELATED TOPICS
80% OF UWM STUDENTS RECEIVE MORE THAN
MILLION IN AID EACH YEAR
2015-16 ESTIMATED ANNUAL TUITION AND FEES: Wisconsin residents: $9,452
Minnesota residents: $13,082
Estimated Room & Meals $10,030
There are a number of room and meal plans. The amount listed reflects an average on-campus double room and the Level 2 meal plan.
Estimated books & other class materials: $800
A WORKER WITH A
DEGREE CAN EXPECT TO EARN ABOUT
MORE THAN A HIGH SCHOOL GRADUATE
OVER A 40-YEAR CAREER Source: U.S. Census Bureau
COLLEGE. IT MAY BE YOUR MOST VALUABLE INVESTMENT EVER. OUT-OF-STATE STUDENTS: WELCOME Studying at UWM can be affordable even if you’re coming to us from outside of Wisconsin. Other scholarship opportunities exist for students coming from all states and around the world. Go to
outofstate.uwm.edu now to learn more.
MILITARY EDUCATION BENEFITS We’re Wisconsin’s leading educator of military veterans. More than 1,000 military veterans, active-duty service members, spouses and dependents attend UWM using military education benefits. Contact UWM’s Military Education Benefits Office at 414.229.6627 or uwm.edu/MEBO.
All students receiving military benefits are STRONGLY encouraged to apply for financial aid in addition to their benefits.
FINANCIAL ASSISTANCE PAYING FOR COLLEGE TYPICALLY INVOLVES THREE SOURCES.
1 2 3 SCHOLARSHIPS: We encourage all students to apply for scholarships.
WORK Many students work during the school year and should work over the summer to assist with weekly expenses and paying for books.
INDIVIDUAL CONTRIBUTION Most students and parents pay part of the cost, depending on circumstances.
DONâ€™T PROCRASTINATE! Funding for some financial aid programs is limited. File by our March 1 priority filing date, earlier if possible, to be given maximum consideration.
FINANCIAL AID To be considered for most types of financial aid (including scholarships), students need to submit the Free Application for Federal Student Aid (FAFSA).
GRANTS: A grant is generally based on financial need and does not have to be repaid.
STUDENT LOANS: Funds that must be repaid.
WORK-STUDY: A program providing employment opportunities to students demonstrating financial need.
DETERMINING YOUR COSTS THERE ARE ONLINE TOOLS AVAILABLE TO TAKE SOME OF THE GUESSWORK AND STRESS OUT OF DETERMINING COLLEGE COSTS. OUR FINANCIAL AID COUNSELORS RECOMMEND THE ONLINE RESOURCES BELOW. ESTIMATED COST OF ATTENDANCE (COA) AND BUDGET WORKSHEET
The COA lists allowable costs that will be used in determining
Review rates for various housing options and meal plans at
your budget if you apply for financial aid. The budget worksheet can help you calculate whether you have enough financial aid to cover tuition and fees or if you will need to use other funding sources. Go to coa.uwm.edu. BURSAR OFFICE Review tuition rates by selecting Tuition Information at the bursar site found at bursar.uwm.edu.
NET PRICE CALCULATOR Get an estimate of your out-of-pocket expenses to attend UWM at
FINANCIAL AID TIMELINE SEPTEMBER
Research and apply for scholarships. Go to scholarships. uwm.edu for tips and resources, and follow facebook.com/ uwmscholarships to get the latest scholarship news delivered to your inbox.
March 1 is the annual UWM priority filing date. We begin awarding financial aid for the upcoming year in mid-March. We will send you an email that includes important information and ask you to review your awards on your PAWS account in order to accept or decline all financial aid offered. You will also be asked to read the Financial Aid Handbook found on our website. Offers not accepted within 30 days are subject to being canceled. Be sure to watch your email.
JANUARY Complete the Free Application for Federal Student Aid (FAFSA) for the upcoming academic year. All students are encouraged to apply. It is free, easy, and should be done online at fafsa.gov. March 1 is the annual UWM priority filing date. You (and a parent if you are dependent) must have an FSA ID which can be created at fsaid.ed.gov. You must be accepted for admission before we will import the results of your FAFSA.
FEBRUARY Watch your email for important communications from us. If you’re selected for verification, you’ll need to submit additional documentation. We’ll send you the details via email and your PAWS ‘To Do’ list. If you filed the FAFSA using estimates, go back two weeks after you’ve filed your taxes electronically and use the IRS Data Retrieval Tool, which will satisfy any need to provide tax transcripts to us.
APRIL If you are accepting any loans, you will need to complete all necessary promissory notes and entrance loan counseling requirements. Details will be provided when you are awarded and reflected in your ‘To Do’ list.
MAY Finalize your financing plan. Although final tuition and fee changes aren’t typically reflected on a bill until late July, you should be able to determine if you need to consider additional funding options. Even though the vast majority of students qualify for financial aid, many also need to consider Parent PLUS and Private Alternative Loans. Financial aid is offered for the year. Make sure you are considering your costs for the entire year.
CONNECT! Questions: finaid.uwm.edu Follow: facebook.com/uwmfinaid facebook.com/uwmscholarships twitter.com/uwmfinaid Call: 414.229.4541
Apply for Parent PLUS or Private Alternative Loan if needed.
Published on Jan 25, 2016