Orientation Update Kelly Smith, Executive Associate Bursar Office of the Bursar Marvin Smith, Director Student Financial Services

Kelly Smith Banded Tuition FAQ’s Student Billing Changes Student Refund Changes “7 Day Exchange” 1

Banded Tuition When was the decision made and why? IU Board of Trustees, spring 2015 ‘flat rate’ tuition for hours designed to help undergrads complete degree in 4 years more predictable planning faster time to a degree substantial long-term savings 2

Banded Tuition - Can It Be Avoided? Students scheduled to graduate in December 2016 or May 2017 Unmet financial need, current FAFSA Need >11 but <15 hours to graduate Must complete the academic unit’s application to graduate process Grant covers the cost difference between banded rate & credit hour rate Available for Fall 2016 & Spring

Banded Tuition What if my degree map doesn’t require 15+ hours per semester? All academic units required to develop degree 15 hours per semester in the first three years Small number include a senior year with fewer than 12 Using degree map as a guide, students encouraged to complete other credentials (minors, certificates, double majors) to maximize educational experience and strengthen candidacy for graduate & professional programs and post- baccalaureate positions 4

Banded Tuition FAQs – Wrap-Up Is banded tuition a pilot project? What about students enrolled in > 18 hours? What about students enrolled on multiple campuses? What if I’m a non-degree student? Tracking questions for updates Send feedback and suggestions to 5

Student Billing Changes Effective Fall 2016, students at Indianapolis and Columbus will be billed on the third Thursday each month, due on the 10 th of the following month * makes IUPUI, IUPUC, IUB consistent with all other IU campuses. First fall bill = August 18, 2016 Payment Due = September 10, 2016 Aid disbursement = August 12,

Student Billing Changes 7 Billing and Due Date Calendar

Student Billing Changes This is not a pilot project No impact on sponsored students Aid will always apply to outstanding charges before the due date. Students should be encouraged to pay any remaining charges or late fees will apply. 8

Student Refund Changes Effective Fall 2016, IU students will now have a 7-day period in which drops/adds will net together. In this ‘exchange’, if the drops/adds increase enrollment or move the student out of the banded rate, no additional tuition charges will be assessed. 9

Student Refund Changes From initial aid disbursement for a semester, through 100% refund period, daily refunds will occur. At beginning of 75% refund period, refunds will be issued once per week, following aid adjustments occur. Special circumstances will continue to be handled on case-by-case basis 10

Student Refund Changes Billing and Refund FAQ page Send feedback and suggestions to 11

Bursar Communications Plan Mass s to enrolled students Notifications to campus offices Student/family orientation Website updates Social media updates 12

Bursar Questions Main Phone Main Staff continually trained with frequent updates, tracking unusual or significant questions/issues 13

Marvin Smith Banded Tuition and Financial Aid Costs Updates 14

Banded Tuition Impact on Financial Aid Banded tuition does not have an impact on Satisfactory Academic Progress (SAP) calculations. The amount of tuition paid is not a factor in SAP calculations. However, a student’s completion rate is a factor. The minimum SAP Completion Rate at IUPUI is 67% The completion percentage component is calculated by dividing the number of hours completed by the number of hours attempted. A student that enrolls in 15 hours and successfully completes 12 hours has an 80% completion rate. 15

Banded Tuition Impact on Passport Program If enrolled in credits at IUPUI during a spring or fall term Ivy Tech credits do not apply in any way toward the IUPUI band Students will pay about $500 extra to take 3 credit class at Ivy Tech because they have already paid to take up to 18 credits at IUPUI If a student must take a class at Ivy Tech for extenuating circumstances, contact Julie for next steps If enrolled in less than 12 credits at IUPUI during a spring or fall term Passport Financial Aid may apply the same as in the past 16

How Much Does It Cost to Attend IUPUI? Undergrad Cost of Attendance, Two Semesters, Credits/Semester Indiana Resident Cost Estimates Tuition/Fees*$ 9,206 Housing/Meals$ 9,430 Books/Supplies$ 1,204 Travel$ 1,692 Personal$ 2,106 TOTAL$23,638 Nonresident from IL, KS, MI, MN, MO, NE, ND, WI add…. + $4,070 in tuition/fees Nonresident from all other states add….. + $21,550 in tuition/fees Students living with parents can save $7,484 in housing/meals Students living on campus can save $1,380 in travel * NOTE: Additional Program Fees if admitted to Herron Art & Design ($664) Business ($1175) Engineering & Technology ($1365) Nursing ($2665) Science ($295) Social Work ($113) Other fees for specific courses like lab courses and distance learning courses

Financial Aid Update Incoming freshman awarding is ongoing More than 5,000 Financial Aid Notifications (FANs) have been mailed out as of late March 2016Financial Aid Notifications (FANs) Recording of webinar regarding IUPUI Financial Aid, common questions about the FAN, estimated costs, student loans, and ways to maximize aid eligibility available here; download a copy of the presentation here available here here Orientation presentation will be available on Student Financial Services website at Continuing student awarding in early June after SAP evaluation 18

New Limited IUPUI Graduation Grant In order to assist with the transition to banded tuition, for the academic year only, seniors with unmet financial need who need just 12, 13, or 14 credits to graduate can apply for a “Graduation Grant” for their last semester of enrollment. For priority consideration, after filing for graduation students should submit the Graduation Grant application (on the Registrar website) to the Office of Student Financial Serviceson the Registrar website To ensure aid on the bill, recommend form be filed at least 4 weeks prior to the start of the final semester of enrollment before graduation 19

IUPUI Emergency Grant Program Expansion Student Financial Services has administered a need-based emergency grant program since 2012 for students documenting unexpected financial difficulties that impact current or potential enrollment. Students may receive up to $1,000 if they have maximized their student aid eligibility, meet satisfactory academic progress requirements, and complete a brief application explaining circumstances. The campus has committed to doubling the available funds for the academic year. Any student facing financial difficulties that impact enrollment in is encouraged to contact Student Financial Services via , for a confidential, individualized review of the student’s personal financial circumstances. Priority for this special review will be to those that have maximized loan eligibility and have not already received institutional aid. 20

IUPUI Homestretch Program Expansion In the IUPUI Home Stretch program, launched in 2013, students with unmet need who are close to graduation and are in their fifth or sixth year of study can receive a loan as an incentive to attend school full time and graduate sooner. If the student fulfills the program criteria and graduates, the loan is forgiven. If the student fails to do so, the loan, with a moderate interest rate, must be repaid. In 2013, more than 150 students benefitted from the Home Stretch program in the fifth or sixth year of study. In 2014 and 2015, Home Stretch funding focused on sixth year students. With additional funding and documented success in promoting persistence and graduation, the Home Stretch program is expected to be expanded in with a focus on BOTH fifth and sixth year students, as well as students near graduation who have exhausted federal and state aid eligibility. 21

Near-Graduation Aid Programs Federal Perkins Loan IU Miller Loan Other Institutional Loans Student must document near graduation with advisor and exhausted other aid options 22

IUPUI Financial Literacy Program Expansion The IUPUI College Budget Balancer, launched in August 2015, is being upgraded to provide an enhanced look and feel for users. The interactive web calculator allows students to estimate and evaluate college costs and resource options related to college enrollment. Students are encouraged to use the tool to "do the math" in the estimation of expenses and resources and to get an idea of the need to reduce potential expenses or obtain other financial resources. By better management of resources, students may be able to reduce the amount of loan debt they incur. 23

IUPUI Financial Literacy Program Expansion A new initiative will begin in to provide faculty and staff with information on the availability of resources for low income students in addition to financial aid programs. The initiative will be led by Student Financial Services, the Office of Student Affairs, and the Twenty First Century Scholars Office. A faculty and staff training session is being planned for May 24 from 10am-noon to discuss researched best practices in helping low income students achieve financial stability, helping students understand how to maximize scarce resources, and ultimately achieve positive student success outcomes. 24

Free Application for Federal Student Aid (FAFSA) Filing Changes in FAFSA Available January 1, 2016 Use 2015 income tax info Priority filing date of March 10, 2016 Frosh awarding in mid-to-late March FAFSA Available October 1, 2016 Use 2015 income tax info Priority filing date likely to be March 10, 2017 Frosh awarding to start in December 2016 Need to get freshman scholarship awarding done by December 12, 2016 to appear on Financial Aid Notification 25