1. Southern Oregon University Financial Aid Office

2. By the End of the Night, You Will Know…
What is Financial Aid?
COA, EFC, and other Financial Aid Language
Types of Financial Aid
Free Application for Federal Student Aid (FAFSA)

3. Cost of Attendance (COA)
The COA or Budget is made up of different types of costs
Direct costs, which the school will charge you for
Tuitions, fees, housing, meal plan
Indirect costs, which you will not get a bill for
Books, personal expenses, transportation

4. Understanding your COA/Budget
The numbers listed in the COA are estimates and not exact costs
The total can change based on different elements
Number of credits being taken
Housing and meal plan costs
Additional non-standard fees for other classes

5. What is Financial Aid?
Financial aid is comprised of different elements:
Loans
Grants
Scholarships

6. How Do You Get Financial Aid?
For Federal Aid, you must complete the FAFSA.
What is FAFSA?
Free Application for Federal Student Aid
An online form that collects demographic and financial information about the student and family
How do you apply?
Sign up for your FSA ID at
Complete the FAFSA at

7. What Does FAFSA Do?
Collects demographic and financial information about the student and family
This information is used to calculate the Expected Family Contribution (EFC)
The EFC is a financial strength indicator that colleges use to award need-based aid
It is NOT the amount that you will be expected to pay out of pocket
Your EFC is the same at every school

8. When to File the FAFSA… As early as possible!
For the academic year, the FAFSA may be filed beginning October 1, 2017.
Website:
Make sure you see the .gov at the end of the web address!

9. What do I Need to File The FAFSA?
You and your parent’s Social Security Numbers
Financial Information for your household from This includes:
Student tax return information
Student W-2’s
Parent tax return information
Parent W-2’s

10. Can I File a FAFSA Without Parent Tax Information?
The FAFSA will ask a series of questions to determine if a student is an Independent student for Financial Aid purposes (not IRS).
If a student can answer “Yes” to at least one question, student is an Independent student
The general rule for most students is until the age of 24 years old, you will be a dependent student, regardless of the parent(s)’ ability to contribute

11. Filing a FAFSA With Divorced/Separated Parents
When a students biological parents are divorced, you only have to list one parent on the FAFSA. The rules for this are:
The parent that supports the student more than 50% should be listed on FAFSA
If this parent has remarried or your parents are living together (but not married), then the spouse and any other members of the household should be listed on the FAFSA
If this parent has not remarried, then just the parent and other members of the household should be listed

12. I Filed My FAFSA, Now What?
Once you have filed your FAFSA, you will receive a Student Aid Report (SAR)
The SAR includes important information about your FAFSA including your EFC
It will also give you an estimate of what your standard award could look like
All schools that were added to your FAFSA will be listed on your SAR
The FAFSA is only sent to the colleges you list on your FAFSA
Most colleges, including SOU, will not send you an award package until you have officially been admitted to the school
Now… You wait (and apply for scholarships!)

13. Categories & Types of Financial Aid
Need-Based Aid
Grants
Work-Study
Subsidized Loan
Non-Need-Based Aid
Scholarships
Unsubsidized Loan

14. Federal Student Loans
A Freshman is eligible for up to $5,500 in student loans.
Depending on the EFC, the student may qualify for a $3,500 Subsidized Loan and a $2,000 Unsubsidized Loan.
What’s the difference?
A Subsidized Loan does not accrue interest while the student is in school
The Unsubsidized Loan does accrue interest once the loan disburses
Both loans have a 6 month grace period once the student graduates or drops below part time
Students with higher EFC’s may not qualify for a Subsidized Loan and receive the $5,500 in an Unsubsidized Loan only.

15. Grants Federal State Institutional Pell Grant Annual $5,920
Based on the EFC
Awarded on a year by year basis
Apply through FAFSA
Available for 6 years at full time
Federal Supplemental Education Opportunity Grant (FSEOG)
Annual $1,000
Limited in funding
Must be Pell eligible to receive
State
Oregon Opportunity Grant
Annual $2,250
Based on AGI
Available for up to 4 years
Institutional
The Affordability Grant
Annual $1,200
Limited awards available
The SOU Supplemental Grant
Annual $2,100

16. Work-Study Limited awards available Must be Pell eligible
Awarded on a year by year basis
Earned through the form of a paycheck

17. Parent PLUS Loan
Loan that is solely in the arent’s name to contribute towards a student’s COA
Applied for each year at
Credit check determines loan eligibility
Amount varies depending on total of student Financial Aid offers
Interest rate for : 7%

18. The Circle of Financial Aid
File a FAFSA
Apply for Scholarships
Turn in Required Documents
Accept Financial Aid Award

19. Thank You!
Southern Oregon University Financial Aid Office - Britt Hall 1250 Siskiyou Blvd Ashland, OR Phone: