How Pay for College

Questions?  Please wait till the end of the presentation. Thank You!

Financial Aid is Available… From the following: Federal government State of New Mexico University of New Mexico Tribal Agencies Scholarships Private Sources

UNM’s Priority Deadline is March 1st

FSA ID  An FSA ID username and password used to login to Federal Student Aid websites  Students create and use the same one every year the file the fafsa  Parents will need their own FSA ID in order to sign the student’s fafsa

Information Needed for FAFSA o Social Security Number o Driver’s License o Taxed and Untaxed Income o File your taxes as early as possible o You may use estimated tax information to meet the priority date o Also above information for student (if available)

Expected Family Contribution The Expected Family Contribution (EFC) is used to determine your eligibility for financial aid.

UNM Undergraduate Budget Dependent Student Living With Parent Living On- Campus Living Off- Campus Tuition & Fees$6,950 Room & Board$3,108$9,406 Books & Supplies$1,080 Transportation$1,806 Miscellaneous$2,026 TOTAL:$14,970$21,268 Budget is for the year*

Is that what I have to pay?

No Simple Answer……

Cost of Attendance Tuition and Fees Room and Board Books and Supplies Transportation Miscellaneous

Better? Better!

Types of Financial Aid Scholarships Grants Student Employment Loans

Scholarships Eligibility requirements vary—commonly awarded for financial need, academic, athletic, or artistic skill May require FAFSA Deadlines and application procedures vary Beware of scholarship scams Where can I find scholarships? o ○ ○

Tribal Scholarships  What UNM needs:  Tribal Financial Need Analysis (FNA)  Submit request to financial aid office  Be aware of your tribe’s deadlines  What Tribe may request:  Complete Tribal Higher Education Application with your Tribe  Certificate of Indian Blood (CIB)  Academic Transcripts  Letter of Admission

Do not have to be paid back (Only of semester is successfully completed) Are awarded on the basis of financial need ○ Federal Pell Grant ○ Federal Supplemental Educational Opportunity Grant (SEOG) ○ State Student Incentive Grant (SSIG) Grants

Student Employment Allows students to earn money to help pay educational costs Some Student Employment jobs require a work study award Work Study (Need-based & No- Need) Work Study Requires a FAFSA

Student Loans (always have to be paid back) Money students or parents borrow to help pay educational expenses. Repayment usually begins 6 months after graduation or when you stop attending Amount of eligibility determined by grade level ○ Subsidized Stafford – 4.29% interest rate* – no interest accrues while student in school at least ½ time. ○ Unsubsidized Stafford – 4.9% interest rate – interest accrues immediately ○ Parent Loan (PLUS)**– Up to COA, credit based, parents only apply. 6.84% interest rate *Subject to Change **Only if you want too

How many will remember this information?

@UNMFinAid

Student Financial Aid Office Scholarship website Student Information/Chat Or Call: UNM All Access: or CALL-UNM