CLASS OF 2018: Your First Year in 3D: Dream, Discover, Do “Now That We’re Here, How Do We Pay for This?”

Office of Financial Aid Knott Humanities Center, Room 211 Ph: Fax: Website:

Agenda Financial Aid Cycle Verification Loan Processing Procedures Federal Work-Study Bill Calculation Worksheet Cash Course Financial Access for Parents Financial Aid Application Procedures

Financial Aid Cycle 1.Apply – CSS PROFILE – FAFSA 2.Submit 2013 Income Information –College Board IDOC Service –Data Retrieval/Tax Transcript 3.File Review 4.Financial Aid Award Notification

Application Procedures

Verification Institutional Policy All applicants applying for federal and institutional need-based aid 2013 Federal Tax Returns (parents’ and student’s) College Board’s Institutional Documentation Service (IDOC) Federal Policy Only those applicants selected by the federal processor 2013 Data Retrieval Process OR 2013 Tax Transcript (parents’ and student’s) Non-tax Filer Statement and 2013 W-2 Form(s)

Verification Need-based financial aid (grants, loans, work- study) remains in “pending status” until verification is complete!

Loan Procedures 1.Federal Direct Stafford Loan –Subsidized & Unsubsidized 2.Federal Perkins Loan 3.Federal Direct Parent Loan (PLUS) 4.Private Alternative Education Loan

Federal Direct Stafford Loans Maximum subsidized loan amount - $3,500 freshman year –1.072% origination fee –4.66% interest rate –Eligibility based on 150% of the published length of current educational program Unsubsidized loan amount - $2,000 freshman year –1.072% origination fee –4.66% interest rate Federal Personal Identification Number (PIN) Loan Entrance Counseling Master Promissory Note (MPN)

Federal Direct Stafford Loans

Federal Direct Stafford Loans

Federal Perkins Loan Maximum loan amount for first year students: $1000 ($500/$500) Fixed interest: 5% Loan Servicer: ACS/Zerox Master Promissory Note (MPN) –Student Name, SSN, DOB

Federal Perkins Loan

Federal Direct Parent Loan (PLUS) Allows credit-worthy parent to borrow up to the full cost of attendance minus other financial aid origination fee 7.21% interest rate Interest accrual begins on the date of the first disbursement Repayment begins 60 days after the second disbursement; repayment deferral option available Student must file FAFSA –Federal Direct PLUS Loan Request for Supplemental Information –Federal Direct PLUS Loan MPN

Federal Direct Parent Loan (PLUS)

Federal Direct Parent Loan (PLUS)

Federal Work-Study (FWS) Provides on-campus employment in administrative and academic departments –10 to 15 hours per week Hour wage rates ranging from $7.25 to $8.50 FWS Employment Information (August via ) –Job listings (departments, job descriptions, contacts) –Payroll procedures (employment agreement, direct deposit, etc.) –FWS Manual (terms and conditions)

Federal Work-Study (FWS)

Bill Calculation Worksheet

Cash Course

Financial Access for Parents FERPA Financial Access for Parents –Access must be granted by your student –Not mandatory –Allows parent access to student account, billing, and/or financial aid information WebAdvisor > Communication > Select Parents for WA Access

Financial Aid Application Procedures CSS PROFILE FAFSA 3.Based on student and parent 2014 income 4.College Board IDOC Service 5.Data Retrieval/Tax Transcript 6.Application Filing Deadline: April 15, 2015 (March 1, 2015 for MD residents)

Student Administrative Services “One Stop Shopping” Maryland Hall 1 st Floor Monday – Friday 7:30AM-5:00PM Main Responsibilities Billing OneCard

Other Services Parking Registration Emergency Loans ATM Machines Payment of Bills –Fall June 16 th – Due August 1 st –Spring December 1 st – Due January 5 th Dewar Tuition Refund Plan

The Loyola OneCard 1. ID Card 2. Library Card 3. Security/Gate Card 4. Athletic Entry 5. Meal Plan 6. Meal Plan Points 7. Evergreen Account 8. Selected Off-Campus Merchants

Evergreen Account No Minimum deposit required Uses Book Store Vending Machines Laundry Machines All Food Services Post Office Photocopier Recreational Sports Theatre Box Office Health Center Selected Off- Campus Merchants

Evergreen Account Deposits Web – inside.loyola.edu ~or~ resources/deposit Phone – Mail – Loyola University Maryland 4501 N. Charles Street Baltimore, MD Attn: SAS

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