Financial Aid Night Trenton HS Alex Landen Senior Admissions Adviser Eastern Michigan University

FREE APPLICATION FOR FEDERAL STUDENT AID (fafsa) Apply online at www.fafsa.gov Required for students to be considered for federal grants, loans and work-study The FAFSA collects family financial information in order to calculate the Expected Family Contribution (EFC) Complete and submit annually, as soon after October 1 as possible.

FREE APPLICATION FOR FEDERAL STUDENT AID (fafsa) What do they collect? Demographic Information Student Income Information Parent Income Information Possible Institutions

What HAPPENS AFTER THE FAFSA IS SUBMITTED? The FAFSA is processed by the U.S. Department of Education. The Expected Family Contribution (EFC) is calculated. Results are sent to the student and the schools listed on the FAFSA. The schools award Financial Aid and notify the student.

What is the efc? EXPECTED FAMILY CONTRIBUTION The EFC is calculated from the student’s and parent’s information reported on the FAFSA The EFC represents how much the family can reasonably be expected to contribute towards the total Cost of Attendance (COA) for one school year

Estimated costs based on 2010-11 WHAT IS THE COA? COST OF ATTENDANCE Tuition and Fees $ 7,566 Room and Board $ 8,020 Books and Supplies $ 900 Transportation $ 900 Personal Expenses $ 900 Total estimated COA $18,286 Non-resident: Add $14,397 to Estimated COA Estimated costs based on 2010-11

DETERMINING FINANCIAL NEED Cost of Attendance - Expected Family Contribution (EFC) = Financial Need

TYPES OF AID: GRANTS AND WORK STUDY Grants (need based aid) Pell Grant University Grant College Work Study (need based aid) Employment, paid in a bi-weekly paycheck

TYPES OF AID: LOANS Student Loans Parent Loans Subsidized Stafford Loan* Unsubsidized Stafford Loan Repayment deferred until 6 months after graduation (or when student drops below half time enrollment) *Interest free while in school Parent Loans Parent PLUS Loan Repayment 60 days from full disbursement

TYPES OF AID: scholarships University Scholarships All freshman are automatically considered for scholarships through their Admission application. Eligible students were notified with their Admission letter. Other Scholarships Other scholarships should be reported to the Office of Financial Aid. Students are encouraged to apply for any scholarships they qualify for. Remember: searching for outside scholarships is a lot like a job search! Examples www.fastweb.com www.meritaid.com www.scholarships.com www.college-scholarships.com

Satisfactory Academic Progress (SAP) To continue receiving Financial Aid each year, all students must: Maintain a minimum 2.0 EMU cumulative GPA (3.0 GPA for graduate students) Earn passing grades in a minimum of 67% of the credit hours they take (E, W, I, N or NC grades are not “earned”) Complete their degree within 150% of their minimum program requirements

Will financial aid pay all of the bill?

Closing remarks Complete the Release of Information Form (FERPA) Service EMU in the Student Center Be prepared to purchase books and supplies We recommended that all students prepare for approx. $1000/year for books and supplies

Senior Admissions Adviser Eastern Michigan University CONTACT INFORMATION Alex Landen Senior Admissions Adviser Eastern Michigan University Phone: 734.487.6469 Email: alanden@emich.edu

CONTACT INFORMATION Office of Financial Aid • 403 Pierce Hall • Ypsilanti • MI • 48197 Service EMU • 268 Student Center • Ypsilanti • MI • 48197 www.emich.edu/finaid Email: financial_aid@emich.edu Phone: 734.487.0455 888.888.3465 (toll free) 734.487.4281 (fax)