Govs R.O.W Scholarship Students and Families

Applying for Financial Aid  Opens January 1 st  FAFSA applies to:  Fall 2014  Spring 2015  Summer 2015  Can be completed before taxes have been filed  Use estimated figures  Make corrections with accurate figures after taxes are filed  Must be completed every year

Verification Your Response is Urgent!  Random selection; notified by  Verifies the FAFSA is correct  You cannot be awarded until Verification is complete  If selected, we need:  Verification Worksheet (completely filled out)  2013 IRS Tax Return Transcripts—not Tax Returns  Can be loaded into FAFSA with IRS Data Retrieval  Can also be found at irs.gov  Other documents as requested  Check your AP even after turning in documents!

Financial Aid Award Announced as early as April  Can be checked through :  AP OneStop  AP  If you receive outside resources:  Must Report it to Financial Aid using the Additional Resources form  Scholarships  Discounts  Benefits  This can prevent over-awarding on your account (over-awards sometimes result in billings to the student)

Cost of Attendance A tool for Financial Aid  Located on OneStop under Award Overview  Not your billing statement  Calculated as the average amount students need for the following all added together:  Tuition & Fees  Books & Supplies  Room & Board  Misc. Expenses  Used as your budget for financial aid

Scholarship Placement Information Congratulations!  Some scholarships require service hours  Examples: Presidential, Dean’s, Howell C. Smith  75 hours are required per semester  Failure to complete service hours will result in a cancellation of the scholarship  Placements are made August 1  Not all will work in their department  Placements are made based on preference listed on Scholarship Confirmation Form  Must meet with supervisor in the first week of school

Tennessee Hope Lottery Scholarship  GPA Requirements  2.75 at 24 and 48 attempted credit hours  3.0 beyond 48 attempted hours  Enrollment Requirements  If you registered full-time, stay at full-time  Failure to remain at full-time could result in a permanent loss of the scholarship  If you lose your lottery scholarship:  Appeal – Only with extenuating circumstances  Regain – Every 24 attempted credit hours

Readiness Checklist

Authorization Form Optional  Allows excess financial aid to be applied to:  Bookstore debit program  Health services  Parking tickets  Etc.  May be completed online at:  AP OneStop  Web Self Service  Financial Aid  Eligibility  Authorization Form

Enrollment Intentions Needed every year  Required so our office plans for the correct budget  Financial Aid is based on:  Enrollment hours  Length of coursework  Attendance throughout the year  The Enrollment Intentions form can prevent over- awarding on your account (over-awards sometimes result in billings to the student)

Enrollment Intentions

If you are not attending 12 hours Fall and 12 hours Spring, say “No.”

Enrollment Intentions – “No.” Failure to enroll the hours you indicate could result in a billing to your account.

Terms & Conditions Also needed yearly  Reminds you of important rules regarding aid  Located at:  Onestop.apsu.edu  Web Self Service  Financial Aid & Veteran’s Affairs  Eligibility  Terms and Conditions

Loans Accepting your offers  The offered amount is for the entire aid year  Whatever you accept will automatically be split between the Fall and Spring semesters  Summer semesters are optional and therefore are not built into OneStop for accepting loans  If you plan on attending in summers, you need to leave yourself enough loans remaining to be applied to the summer semester

Loans Steps to Take

Loans

Whatever you accept will split between Fall and Spring If you accept a partial amount, the remainder can be picked up later through an Adjustment Form or in the Summer semester

Readiness Checklist Revisited

Loans Additional Requirements  Direct Loan Entrance Counseling  Reviews all loan regulations  Master Promissory Note  You affirm that you are responsible for repaying your loans  Both must be completed at studentloans.gov  Loans will not pay out unless these requirements have been completed  These are only required the first time you accept loans, and are good for 10 years afterward

Debt Management Borrow Responsibly  Aggregate Loan Limits – the total you can borrow  Undergraduate Dependent = $31,000  Undergraduate Independent = $57,500  Graduate = $138,500  Maxing out on loans each year and taking more than 4 years to graduate could cause you to exhaust your limits BEFORE you graduate.  The average loan debt upon graduation: $25,000

Any Questions?  Ellington Building, Room 216  apsu.edu/financialaid  (931) Welcome to APSU!