Financial Aid and Financial Services Orientation

Who are we? Financial Aid Located on the ground floor of Main Complete financial aid awards for incoming and returning students based on federal and state regulations Certifies student and parent loan applications Offers financial aid counseling for students

Who are we? Financial Services (OFS) Located on the first floor of Main Receive payments and answer questions on Student Account Balance Monthly Payment Plan Work Study Payment Agreement Cash checks Receive NordiCash deposits Charge student account based on information provided by other offices

~Financial Services ~Financial Aid ~Student Employment Who are we? Who can answer questions about finances? ~Financial Services ~Financial Aid ~Student Employment We work very closely on administering student finances Your question may involve more than one office In general Financial Aid: Questions about scholarships, grants, and loans Financial Services: Questions about student accounts and payment plans Student Employment: Questions about work study

my.luther.edu Student Menu

luther.edu/financial-services/ home page

luther.edu/financial-services/ student information

Financial Services financialservices.luther.edu Parent Portal Forms, Cost, and Payment information Frequently Asked Questions Parent Portal Access is granted to parents or guardians using my.luther.edu (payments, statement of account) Gives permission for us to speak to your parents Allows us to send Financial Statement E-mails to your parent

Financial Services Monthly Payment Plans (new one each year) Work Study Payment Agreement (new one each year) Payment Due Dates Aug 10 (fall) and Jan 10 (spring) Debit/credit card & e-check available on my.luther.edu E-checks payments are FREE 2.5% fee for cards You will receive monthly emails to review your statement of account on my.luther.edu and remit the balance due Late charges assessed the 10th

Financial Services 1098-T’s & W-2’s Consider choosing the electronic version Do this on my.luther.edu Why choose electronic? parents will be able to access your tax forms you will get access to them at least a week before the paper copy

my.luther.edu Student Menu

finaid.luther.edu

Financial Aid Responsible for awarding and maintaining your financial assistance: Review FAFSA and determine aid eligibility Collect verification documents Scholarships Loans Work-study Special circumstances Must file every year

Financial Aid Scholarships Academic Must make satisfactory academic progress to keep Endowed Outside Must be reported Turn checks into Financial Aid Office

Financial Aid Loans Federal Loans Master Promissory Note Entrance Counseling Exit Counseling Private Loans Financial Aid Office can assist you in determining amount Start the application process early! Takes several weeks for the loan process.

Financial Aid Work-Study Collect employment forms W-4 and I-9 Process payroll (time cards/webtime entry) Don’t forget to turn in your Direct Deposit Form This is a REAL job Taxable Income Check website for job openings Returning Students – secure job for next year

finaid.luther.edu All Payroll Dates are located at https://www.luther.edu/work-study/process/ at the bottom of the page

Financial Aid FSA User ID Satisfactory Academic Progress (SAP) Is used on all Department of Ed websites Satisfactory Academic Progress (SAP) Must make academic progress to maintain aid eligibility For more information see Consumer Information page on our website Remember – Must complete FAFSA each year Most financial aid awards do have maximum cumulative limits

Financial Services & Financial Aid FERPA (Family Educational Rights & Privacy Act) Avoid Registration Holds Emails are sent to STUDENTS, not parents If you need help with understanding the emails, contact the office that sent the email We are here to help! Email addresses finaid@luther.edu finserv@luther.edu stuwork@luther.edu

Financial Services & Financial Aid All information presented today is available on our websites, including this presentation Today’s To-do list Go to my.luther.edu Review my documents Review Statement of Account Grant Parent Rights to Portal (if applicable) Be sure to contact us with any questions!