Financial Aid and the 2017 Certificate Entry Into Nursing Program Presented by, Nancy Millerd Office of Student Financial Aid Services

Financial Aid Information for CEIN Students Two general types of financial assistance are available to CEIN students at the University of Connecticut: Awards Based on Merit Scholarships offered by the Nursing School Financial Aid - Loans Federal Stafford Loans Federal Parent PLUS Loans Private Student Alternative Loans Packaging Students are awarded federal loans and billed for three separate terms – Spring 2017, Summer 2017 & Fall 2017

September Complete the 16/17 Free Application for Federal Student Aid (FAFSA) October Complete the 17/18 Free Application for Federal Student Aid FAFSA application (FAFSA) February/March Apply for private alternative loan or PLUS loan for summer, if needed April/May Receive, Review Aid, Apply for Fall only alternative or PLUS loan, if needed Financial Aid Timeline You are here October/November Receive, Review Aid, Apply for Spring only alternative loan or PLUS loan, if needed

Completing the FAFSA Application (Free Application for Federal Student Aid) What documentation and paperwork do students need to file the FAFSA? All financial information needs to be from prior financial year. If a student and or parent is filing the 2016/2017 FAFSA, you would use tax/income/asset information from Driver's license or state ID. W-2 Forms and other records showing money earned Federal Income Tax Return- if applicable. Untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records. Current bank statements. Current business and investment mortgage information, business and farm records, stock, bond, and other investment records. Alien registration or permanent residence card (if not a U.S. citizen).

Determining Dependency Status Step Three of the FAFSA application will determine if you will be required to provide parental information. Example of some of the questions asked: Were you born before January 1, 1994? Are you married? Are you a Veteran of the U.S Armed Forces? Do you have children? Grade Level All students should indicate earning 2 nd Undergraduate degree

Role of the Financial Aid Office Our Office receives an official class roster in October 2016 from the Nursing School Students who complete a FAFSA application are awarded federal loans based on the three terms, Spring 2017, Summer 2017 and Fall 2017 Students’ are packaged for Spring 2017 on or before November 15, 2016 Students’ Summer 2017 and Fall 2017 packages will be viewable on the Student Administrative system on or before May 1, 2017.

Aggregate Undergraduate Federal Loan Limits The federal government limits the total amount of Stafford Loan that can be borrowed at the undergraduate level. For independent students this amount is $57,500 of which no more than $23,000 can be subsidized. For dependent students the aggregate amount is $31,000 of which no more than $23,000 can be subsidized. Federal Stafford Loan Limit per Academic (Subsidized – need based/Unsubsidized – non-need based) $6,250 per term for Independent students $3,750 per term for Dependent students Federal Loan Limits

Undergraduate Loan Options at a Glance ProgramBorrowerCredit Check Required? Interest Rate As of 10/1/16 Repayment Begins Federal Direct Subsidized Stafford Loan Students with financial need No3.76%Six months after graduation Federal Direct Unsubsidized Stafford Loan StudentsNo3.76%Six months after graduation Federal Direct PLUS Loans (For Dependent Students) ParentsYes6.31%Sixty days after second disbursement unless deferred Private/Alternative Loans Students with a creditworthy cosigner YesVariable or fixed; usually depend on borrower and cosigner credit scores Varies by loan product

Applying for Federal Direct Stafford Loans 1 Via the Student Administration System, the student reviews and accepts all or any portion of the Federal Stafford loan(s) 2 The student completes Master Promissory Note online 3 The student completes Entrance Counseling online The process for applying for Federal Direct Subsidized and Unsubsidized Stafford Loans is as follows:

Federal Direct Parent Loans for Dependent Undergraduate Students Student accepts PLUS eligibility through Student Administration Self Service Parent completes an online application via Parent completes PLUS Master Promissory Note (MPN) at Credit check will be performed by the US Department of Education Applying for Federal Direct Parent Plus Loans

When and if federal loans are not enough to cover a students educational expenses students may have to consider alternative loans. Alternative loans can only be certified for the loan period in which the student is being billed for. Students can view our suggested Alternative loan lender list at We recommend students refer to the lenders website for the most up to date information. All students have the right to choose to borrow a loan from any lender who participates in a program under which they are eligible to borrow. Private Alternative Loans

Example of Spring 2017 Budget Storrs Off-Campus Storrs with Parents Regional Off-Campus Regional with Parents Program Fees10,995 10,995 10,995 Additional Fees Room & Board - estimate 6, , Misc. Expenses - estimate (books, transportation, etc.) 2,7502,7252,7502,725 Total COA $21,379$15,515$21,319$15,455 Example: Storrs Off-Campus student: Example: Storrs Off-Campus Dependent student: ***The dollar amounts listed above are a sample and may not represent the actual amounts that you will be charged by the University. (Budget) $21,379 - $6,250 (est. Stafford Loan) = $15,129 Remaining Alternative loan eligibility for spring (Budget) $21,379 - $3,750 = (est. Stafford Loan) = $17,629 Remaining Alternative or Parent PLUS loan eligibility for spring

University Fee Bills Spring 2017 Bills posted online and notifications sent out in late November Due Date: January 8, 2017 Refunds: End of January Summer 2017 Bills posted online late April Due Date: End of June Refunds: End of May Fall 2017 Bills posted online late June Due Date: August 1, 2017 Refunds: End of August

Methods of Payment Electronic Check online Credit Card online (2.75% convenience fee) – VISA, Mastercard, Discover, American Express, JCB, BC Card, DinaCard, and Diner’s Club Mail in a check Pay in person with check/cash Payment Plan – $45 enrollment fee, must re-enroll each semester – Fall Semester: July 15 th, August 15 th, September 15 th, & October 15 th – Summer Semester: No payment plan available – Spring Semester: December 15 th, January 15 th, February 15 th, & March 15 th

Refunds Refunds are written when: – Financial Aid is processed and disbursed – Enrollment matches financial aid package – Fee bill is paid in full Parent Plus Loan Refunds- Written to whomever took out the loan, and mailed home Direct Deposit for Students!

Office of Student Financial Aid Services The Office of Student Financial Aid Services is open 12 months a year; Monday through Friday, 8am - 5pm. You may contact us by: - Telephone – (860) In Person – On a walk-in basis.

Communicating with the Financial Aid Office The University's official means of communication is through your University account. Check frequently Respond promptly