Office of Student Financial Services (OSFS) February 2013 Newsletter Applying for Financial Aid for 2013-2014 To apply for need-based financial aid for the 2013-2014 academic year, you must complete the 2013-2014 Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov. To complete the FAFSA online, a PIN is required for both the student and parent. To obtain We strongly encourage you to apply by a PIN, please visit pin.ed.gov. the priority filing date of March 1st to be considered for all sources of aid. When completing the FAFSA, we encourage you and your parents to use the FAFSA’s IRS Data Retrieval Tool, which allows you and/or your parents to transfer 2012 tax information into the FAFSA. The tool is available two weeks after you electronically file your taxes or six to eight weeks after you file your taxes via a paper application. If you do not use the IRS Data Retrieval Tool, you may need to submit IRS Tax Return Transcripts to our office and this may delay your aid application.
Additional Aid Opportunities
Important Dates
Emmanuel makes every effort to offer the same award each year. Below are some options you can consider to reduce your costs.
End of January W-2s and 1098-T mailed to preferred mailing address and available online
Emmanuel College Endowed Scholarships Students interested in receiving additional aid for 2013-2014 may apply for Emmanuel College Endowed Scholarships, which are funded by alumni and friends of the College based on criteria established by the donor. Most students are eligible to apply. To review scholarship listings, please visit the “Student Financial Services” section of MySaints. Scholarship applications must be submitted to the OSFS by March 1, 2013. The OSFS will notify students of Endowed Scholarship decisions in June.
March 1
2013-2014 priority filing date for financial aid 2013-2014 Emmanuel College Endowed Scholarship Application due
April
Fall 2013 Course Registration* 2013-2014 Housing Selection*
Private Scholarships In addition to Endowed Scholarship opportunities, students may apply for private scholarships. For your convenience, the OSFS has compiled a list of some private scholarship opportunities so you can begin your search. These scholarship opportunities can be viewed under the “Student Financial Services” page of MySaints. Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant Students may be eligible for federal gift aid of $4,000 awarded each year to undergraduate students intending to teach full time for at least four years as a highly qualified teacher at a school or educational service agency (ESA) servicing low-income students and in a highneed field. If interested, please visit www.TEACHgrant.ed.gov for more information and notify our office.
April 2
2013-2014 Housing Deposit Due
May 11
Commencement*
June
2013-2014 Financial Aid Award E-mail Notifications Sent 2013-2014 Endowed Scholarship E-mail Notifications Sent
*Students with a financial hold cannot participate in course registration, room selection or receive a diploma/participate in Commencement. If you currently have a financial hold, please meet with your counselor to find the best way to resolve your account.
Office of Student Financial Services, Emmanuel College, 400 The Fenway, Boston, MA 02115 Phone: 617-735-9938 Fax: 617-735-9939 E-mail: financialservices@emmanuel.edu
Office of Student Financial Services (OSFS) February 2013 Newsletter
Refunds If you have a credit on your account after paying your spring bill, you may reduce your or your parent’s loan amount by the amount of your credit or you may request a refund through Online Academic Resources via MySaints, on the Emmanuel website, or in the OSFS. Students who request their refund through Online Academic Resources can request to have the funds directly deposited into their bank account. Because financial aid is disbursed after the add/drop period, most refunds are not available until late February for the spring semester. However, some funds, such as state grants, are generally not disbursed until after late February. Please plan accordingly if you use your refund to purchase books or pay for off-campus expenses. If you have questions about when your refund will be available, please contact us at financialservices@emmanuel.edu or 617-735-9938.
Tax Documents & Tax Benefits Student W-2 and 1098-T tax forms will be mailed to your preferred mailing address by the end of the month. We encourage you to review the 1098-T, which can be viewed and printed through Online Academic Resources, via MySaints, to assess your or your parents’ eligibility for claiming certain education tax credits. If you are interested in learning more about these tax benefits, we encourage you to visit www.irs.gov or consult a tax professional.
Moving Off Campus? The responsibilities of maintaining an apartment and developing a budget require effort and discipline. Many students feel that living off campus is cheaper, but it provides its own set of financial challenges that you should consider before signing a lease. Effect on financial aid: If you are receiving funding from the College that is need-based, an adjustment to your financial aid award may be necessary. Security deposits: Most rental agencies require a security deposit, and you may need to pay this deposit (in addition to the first month’s rent) before the end of this academic year. Start-up costs: If you rely on financial aid, including parent and student loans, to pay for your room and board costs, these funds are not disbursed into your account until late October, so you must have the funds to pay for September and October rent. In addition to this expense, you should be prepared to pay other basic start-up expenses such as application fees, cable, utilities, Internet, groceries, furniture, etc., before your refund check is available. Leases: Most leases require a 12-month commitment, even if the student does not plan on residing in the apartment during the summer. If you plan on living with roommates, financial matters are easier if all names are on the lease and utility bills. We encourage you to develop a cost plan of reasonable off-campus expenses and compare it to room and board rates. If you need help with this process or would like to discuss the impact of living off campus on your financial aid award for the upcoming year, we encourage you to meet with your Student Financial Services counselor.
Study Abroad & Travel Courses If you are interested in studying abroad in the fall, or are considering participating in one of the travel courses offered through Emmanuel, we encourage you to visit our office to speak with your counselor about financing options prior to making deposits.
We’ve Moved! The OSFS has moved back to the Administration Building in Room 341. Our office hours continue to be the same; we are open Monday through Thursday, 8:30 a.m. to 6:00 p.m. and Friday, 8:30 a.m. to 4:30 p.m.
Office of Student Financial Services, Emmanuel College, 400 The Fenway, Boston, MA 02115 Phone: 617-735-9938 Fax: 617-735-9939 E-mail: financialservices@emmanuel.edu