1. Graduate Financial Aid Information Session Jennifer Baughn Associate Director - Graduate and Professional Programs

2. Agenda Location and office hours Applying for Aid & Eligibility
Cost of Attendance budget
Types of financial aid
Loan requirements
Person Records On Web Link (PROWL)
Checklist
Questions

3. Location & Office Hours
Financial Aid Office
Location & Office Hours
Charles Von der Ahe, Suite 270
Monday - Friday 8am – 5pm
Counseling by walk in and by appointment
Website:
Telephone: (310)
Fax: (310)

4. Applying For Aid
Complete the Free Application for Federal Student Aid (FAFSA)
School code
Looks at “prior-prior” year tax information for FAFSA year now.
Create FSA ID and password at fsaid.ed.gov
Complete and submit your department’s scholarship application
Check with your college for more information.

5. Federal Aid Eligibility
To be eligible for Federal Financial Aid you must:
Be a U.S. citizen or eligible noncitizen
Have a valid social security number
Be registered with selective service (male students)
Enrolled at least half-time
Maintain satisfactory academic progress

6. Estimated Cost of Attendance
Tuition and Fees $15,668 (based on 6 units per term)
*Your tuition fee may be different based on your program of study.
Room and Board $17,634
Books and Supplies $1,917
Transportation $1,251
Personal & Misc. $2,997
Loan fees $220
Total estimated COA $39,857
*Above COA is for off campus students (not living with parents/relatives).

7. Graduate Aid Facts
Graduate degree seeking students are considered ‘independent’ for financial aid purposes.
Parental information is NOT required for Graduate degree students, but is required for dependent Non-Degree Credential Students
No institutional aid for graduate students; only department aid and federal aid (loans/work study).
Only required to demonstrate financial need in order to qualify for work study. Loans are not need based.

8. Types of Financial Aid Departmental Awards/Scholarships
Check with your college for more information
Federal Work Study
Direct Unsubsidized Loan
Graduate PLUS Loan
Private Alternative Loan
For School Teachers
Federal Teach Grant
Cal Grant TCP (Teaching Credential Program)

9. Federal Work Study Must demonstrate financial need
COA – Expected Family Contribution (EFC) = Financial Need
Submit a Revision Request form
2018/19 Award: $3,200/year
Paid as wages directly to student

10. Direct Unsubsidized Loan
Annual Maximums
$20,500 Degree Seeking Students
$12,500 Non-Degree Credential (Independent)
$5, Non-Degree Credential (Dependent)
Interest Rate for 18-19: 6.6%
Origination Fee of 1.066%
Interest begins to accrue once the loan is disbursed. Students have the option to pay the interest while in school
Repayment begins 6 months after leaving school
Direct Loan Master Promissory Note (MPN) and Entrance Counseling are required before disbursement

11. Direct Graduate PLUS Loan
Requires a credit check
May borrow up to the COA minus other financial aid
Interest Rate for 18-19: 7.6%
Origination Fee of 4.264%
Interest begins to accrue once the loan is disbursed. Students have the option to pay the interest while in school
Repayment begins 6 months after leaving school
Grad Plus Master Promissory Note (MPN) and Grad Plus Entrance Counseling are required before disbursement

12. Entrance Loan Counseling and MPN

13. Private Alternative Loan
Not guaranteed by the Federal government
Requires a credit check.
Some require a credit worthy co-signer
May borrow up to the COA minus other financial aid
Interest rate could be fixed or variable depending on your credit.
Not eligible for federal loan consolidation.
May not include a deferment option.

14. Federal TEACH Grant
Students interested in receiving the Federal TEACH Grant should complete the two requirements below on
TEACH Grant Agreement to Serve
TEACH Grant Counseling
As a condition for receiving a TEACH Grant, you must sign a TEACH Grant Agreement to Serve in which you agree to (among other requirements) teach
in a high-need field; 
at an elementary school, secondary school, or educational service agency that serves students from low-income families; and 
for at least four complete academic years within eight years after completing (or ceasing enrollment in) the course of study for which you received the grant.
IMPORTANT: If you do not complete your service obligation, all TEACH Grant funds you received will be converted to a Direct Unsubsidized Loan. You must then repay this loan to the U.S. Department of Education, with interest charged from the date the TEACH Grant was disbursed. 

15. Federal TEACH Grant Counseling & Agreement to Serve

16. Cal Grant TCP and Veteran Benefits
Cal Grant TCP (Teaching Credential Program)
Received a Cal Grant Payment within the last 15 months.
Continue to meet Cal Grant requirements.
Complete and submit a form G
Veteran Benefits
If you are a recipient of VA benefits submit your certificate of eligibility to the Office of the Registrar. They will complete your VA paperwork.
LMU is proud to participate in the Yellow Ribbon program.

17. AmeriCorps
If you plan to use your AmeriCorps funds to pay education costs, you must submit a voucher request via the MyAmericorp website
Be sure to select “Educational Expenses”.
LMU must approve requested amount before the award is processed
AmeriCorps funds count as a resource toward your cost of attendance; may reduce your loan eligibility

18. My AmeriCorps

19. PROWL (Personal Records Online Web Link)
View and accept your Financial Aid award
View missing requirements
View messages from the Financial Aid Office
Check your Student Account balances.
Register for Classes
**The Financial Aid Office will only communicate with you via your LION address and PROWL messaging

20. Checklist Once you receive notification of your financial aid award:
Accept or decline loan awards on PROWL
Sign up for Direct Deposit via the Student Account website
Enroll at least half-time
3 units for degree seeking students, 6 units for Non-Degree Credentials
Complete Direct Loan Promissory Note(s)
Complete Loan Entrance Counseling
Review PROWL and LION regularly for messages from Financial Aid

21. Loan Resources www.Studentloans.gov Complete Entrance Loan Counseling
Complete Master Promissory Note
Complete Exit Counseling
Complete TEACH Grant Agreement to Serve & TEACH Counseling
NSLDS (National Student Loan Data System)
Provides an integrated view of all your Title IV loans and grants during their complete life cycle
Verify in-School Deferment
Loan forgiveness/cancellation opportunities for educators

22. QUESTIONS

23. Welcome to LMU!