Financial Aid Presented by Name

Paying for College: Paying for College: Financial aid was created as the BRIDGE to Higher education. All the information gathered on the FAFSA is to develop an understanding of the household information

Application Processing 1.FAFSA is submitted and processed by Federal Department of Education 2.UWM retrieves the info (1-2 weeks) 3. UWM sends notification of award - OR - missing/inaccurate information (3-5 weeks) - Verification process: Average of 6 weeks - Admission Match (Name, DOB, SSN)

What is Financial Aid? - Gift Aid (Grants and Scholarships) - Federal Work Study - Loans

Federal Direct Loans Subsidized Non-interest bearing while in school Interest rates : 4.5% Sub and $3500 FR max 6.8% Unsub and $2000 FR max $5500 total maximum loan as Freshman Unsubsidized Interest bearing while in school

Each student must “Accept” any work study or loan awards they plan to use through their PAWS account. Self-Service

Master Promissory Note (MPN) & Entrance Loan Counseling: www4.uwm.edu/financialaid Click on Online Loan Applications , then go under “Federal Stafford Loan Borrowers” for the link to complete both

Additional Options Direct PLUS (interest 7.9% fixed) Alternative Education Loans (interest varies) Which is better? Apply for both from our website: www4.uwm.edu/financialaid

1)“Accept” any work study and loan awards through PAWS account Self-Service feature 2)Report Credit Level if less than 12 credits 3) Complete a Master Promissory Note & Entrance Loan counseling from Website 4) Report any additional funding (i.e. Scholarships) To Ensure On-time Disbursement:

Payment of Financial Aid August 23 nd 1st disbursement of financial aid occurs August 27 th TUITION DUE: If no financial aid offered by due date, must pay AT LEAST $200 tuition deposit

Payment of Financial Aid, cont. Tuition and/or housing is paid first; excess cash is mailed Determining Balance Due: Tuition/Housing – Aid = Balance Due Positive Balance = balance due Negative Balance = Excess $$$

Unusual Circumstances Examples: Divorce, unemployment, death, high medical expenses Call or set up an appointment with an advisor to discuss Don’t wait to pay your tuition!

RECAP: - Submit any required documents to financial aid office - View financial aid award via PAWS account accept awards - Complete MPN and ELC for Direct loans - Apply for additional loans if desired or needed - Remember to re-submit the FAFSA each year between January 1 st and March 1 st

Questions? Thank You for your time!