1. A Longhorn Guide to Financial Aid
Welcome Longhorns!
My name is XXX I am a financial aid counselor here at the UT Austin Office of Scholarships and Financial Aid.
We ask that you hold your questions until after the presentation, which will allow us plenty of time to answer your questions.

2. Agenda Applying for Aid & Scholarships Shopping Sheet Verification
Cost of Attendance
Financial Aid Awards
Special Circumstances
Work-Study
Shopping Sheet
Applying for Federal Loans
How to Pay for Tuition
Releasing Awards
FERPA
FAQs & Reminders!
Contact Us
This presentation will briefly address:
-Applying for financial aid and scholarships
-Verification
-COA
-FA Awards
-Special Circumstances
-Workstudy
-Shopping Sheet
-Apply for Federal loans
-Paying for tuition
-Releasing awards
-FERPA
-FAQS
-Contact OSFA

3. Applying for Financial Aid & Scholarships
Submit the FAFSA each academic year | fafsa.ed.gov
The FAFSA opens October 1!
Submit UT Austin’s Continuing and Transfer Student Scholarship Application each academic year to be considered for scholarships | finaid.utexas.edu
Scholarship Application opens early November
Check CA$H for your aid/application status and submit any extra requirements |
Submit all requested documents posted on “What do I need to complete?” via CA$H.
Review & activate your Financial Aid Notification (FAN) to accept your aid
Notes: Apply for financial aid and scholarships each year. The process starts with your completed FAFSA application. The FAFSA application the student completed for covers Fall 2019 and Spring Once UT has your FAFSA, you can monitor your application file on CA$H. Your information is required on the FAFSA application. FAFSA and UT Scholarship applications for the academic year will open later this fall on October 1st.
We handle FAFSA applications, State-funded Scholarships and Grants, University-wide scholarships applications and work-study student employment programs.
The FAFSA application requires “prior-prior year tax return” information. The – FAFSA is based on 2017 year tax return data. The , FAFSA will use the 2018 tax return. We understand that your current financial situation may be completely different than it was two years ago. You can appeal the FAFSA Estimated Family contribution under certain conditions, such as change in parent income or out of pocket medical expenses.

4. Verification
What is it? A process to confirm the Tax Information provided on your FAFSA
Why was I selected? Verification is a federal requirement in which the Department of Education selects about 30% of FAFSAs
What do we have to do? Check CA$H for verification document requirements and upload them
How long will it take? About a month from when we receive and accept all of your verification documents
The verification process requires the submission of three documents: Institutional Verification form or IVF, Parent 2017 tax return and Student 2017 tax return.
Parent’s can select the IRS Data Retrieval Tool on the FAFSA however if this option is not available the parent can request a copy of their tax return transcript from the IRS.gov website.
The verification selection process is decided through the Department of Education.  If a student is Pell eligible, they have a greater chance of selection.  Also, it is not uncommon for a student to be selected multiple years.
STUDENTS: if you did not work in 2017 or did not file a tax return in 2017, please indicate that on the IVF form – the IRS verification of nonfiling requirement has been temporarily waived.
Additional documents may be required (like 1098-T or W-2’s), Use the Document Uploader on CA$H whenever possible.
OFA Quality Control will you if there are problems with your documents or additional information is required.
On Average, Verification takes 3-4 weeks from the time we receive and accept all of your documents.
OFA will not award aid until the Verification process is complete.

5. How much does UT Austin cost?
*Fees listed per semester
Resident
Non-Resident
Tuition
$5,157 - $5,926
$18,358 - $21,041
Room & Board
$5,906 (On or Off)
Books
$350
Transportation
$745
Personal
$1,451
Loan Fees
$50
Total
$13,659 - $14,428
$26,860 - $29,543
The Cost of Attendance is used to award financial aid. It’s the average cost to attend UT Austin, and includes:
The biggest question you may be asking yourself is “How much does it UT Austin cost?”
The Office of Scholarships and Financial Aid updates our cost of attendance annually. This estimate reflects the cost associated to attend UT.
To breakdown the COA. We have:
Tuition & Fees (Long session) - The cost of tuition and fees in the fall or spring based on 12 hours per semester enrollment for undergraduate students. Depending on which college your student is in will determine their tuition rate. Each college sets their own tuition and fee rate.
Housing: The average cost per semester to live while attending UT Austin. The on and off campus budgets are the same and assume you will live with a roommate. Actual costs may vary by individual choices related to location and circumstances. The on- and off-campus costs assume a roommate. For off campus, if you can stay around $1100 per month in rent, utilities and meals, you should be fine “budget-wise”.
The average cost of books and supplies per semester is $350. Actual costs may vary depending on specific courses and new vs. used. There are many options available, online or text book rentals. Students have the option of checking out books from UT’s libraries for a two hour checkout..
The transportation allowance is provided for travel to campus from out of town and vice versa, not to maintain a vehicle, make car payments, pay for insurance or pay for garage parking permit. UT ID card is your Unlimited FREE pass on University shuttles and the Austin city buses and Capital MetroRail.
Personal/Miscellaneous: This allowance includes everything from clothing and laundry to going to a movie or buying a pizza. For personal planning purposes only; it does not represent a direct cost of attending.

6. Financial Aid Awards
The Financial Aid Notification (FAN) will display financial aid award offers via CA$H.
Grants* | Free money! Federal, state and institutional
Scholarships | Free money! Awarded by UT Austin and the Office of Scholarships and Financial Aid
Work-Study* | Wages a student earns through a part-time job (usually on campus)
Student loans | The student borrows money to pay for educational costs, then pays it back (with interest) after graduation
Parent loans | The parent borrows money to help the student pay for educational costs
Grants, Scholarships and Work-Study are all FREE MONEY – these funds do not have to be paid back!
GRANTS Awarded based on financial need & have various eligibility requirements depending on the type of grant.
Federal, State & Institutional grants: Federal – Pell & FSEOG; State – Tx Grt; Institutional – UT Grant
SCHOLARSHIPS come from a variety of sources such as federal/state govt, colleges/universities, & private cos/orgs and are also FREE MONEY! They are competitive & usually merit-based.
Incoming students will apply for UT-specific scholarships either using the ApplyTexas or Coalition for College application by December 1 – there is no separate scholarship application for UT Austin.
FEDERAL WORK-STUDY is a need-based aid program – some might consider this a “self-help” aid. Students still have to apply & be hired by an employer who participates in the work-study program, but UT (& I’m sure other schools) have great resources to help students find jobs.
A student may see a work-study award, but this is not a disbursing award.  This only shows how much a student is eligible to earn from a work study position. The student will earn the work-study wages every two weeks in the form of a paycheck. Work study positions is part time employment either on/off campus up to 19 hours per week and do not work during their class time. Students must be enrolled in at least half-time.
Most work-study jobs are on campus or with off campus non-profit organizations. This is a great way to earn money to help with those miscellaneous expenses, while building up their resume with work experience. Work-study employers are usually great about scheduling around classes and allowing extra time off to study for exams.
Job posted by July 1st for Fall 2019
Job Fair August 28th, 2019
LOANS are the last form of financial aid we want to talk to you about today. There are federal direct loans, state loans and private loans. Federal Direct Student loans and parent plus loans are the most common.
There are 2 types of student loans that students may borrow to pay for educational expenses. There is no credit check for student loans and repayment is deferred while the student is in school.
Subsidized loans – these are need-based loans for students. The government pays the interest while the student is in school.
Unsubsidized loans do not require financial need to be eligible. They have the same (low) interest rate as the sub dls but interest DOES accrue while the student is in school.
The Parent PLUS Direct Loan is a federal direct loan that a parent of an undergraduate, dependent student can apply for to help pay for student’s educational expenses. The interest rate is a little higher than that of student direct loans. This is a credit-based loan. Interest accrues and repayment usually begins 60 days after the loan is fully disbursed.
Alternative Loans such as State College Access Loans and Private Loans. Interest and terms vary depending on the loans and these may have either the student or the parent as the borrower.
The student will use their FAN to report Outside scholarships and UT college/department scholarships your student has won. Valedictorian tuition exemptions and Hazlewood (Texas Veteran/Legacy) benefits must be reported. Don’t report student earnings from work or savings, parental contribution, federal veteran’s benefits, ROTC, Texas Tomorrow Fund and other 529 prepaid tuition investment plans as resources. Loans will be reduced first. Some scholarships and grants are need-based aid programs and may be reduced when additional resources are reported.
*Awards are based on calculated financial need.

7. Special Circumstances
Secondary school tuition
Unusual uncovered medical/dental expenses
Parent or spouse death
Extraordinary dependent care
Loss of employment
Divorce
What are Special Circumstances?
Special financial circumstances are those, which significantly affect the families’ ability to pay for college. Examples: Parent lost a job? Someone critically ill? Family disaster? Siblings in private school? Special student expenses at college, like medical or disability? Family concerned it cannot meet the required contribution?
A student from a difficult background, perhaps completely estranged from or a difficult background, perhaps completely estranged from or endangered by his or her family, may qualify as an “independent” student. A student with this circumstance will need considerable guidance from the college Financial Aid Office in applying for a ‘dependency override’. If the college approves an override, no parent information will be required for the FAFSA.
The Office of Scholarships and Financial Aid has the authority to exercise discretion and each student is considered on a case-by- case basis.
The amount and type of extra financial aid cannot be determined UNTIL the student goes thru this process.
The student will need to download the form from our website and turn in back in with supporting documentation.

8. Work- Study Part time employment up to 19 hours per week
Must be enrolled at least half-time
Paid monthly or biweekly
On & off campus job opportunities
Cannot work during class
Positions posted via Hirealonghorn
Job posted by July 1st for Fall 2019
Job Fair August 28th, 2019
Job Fair details TBD
Fall 2019 employment dates September 1, 2019 thru December 31, 2019
Spring 2020 employment dates January 11, 2020 thru May 30, 2020

9. Shopping Sheet
Shopping sheet, which is a supplemental tool to the FAN, provides a general overview of costs and financial aid factsheet for UT AUSTIN, including estimated Cost of Attendance, Grants and Scholarships, Work and Loan options. DATA on the shopping sheet is updated each time there is a change to your Financial aid Package and generally stays active until classes begin. The Shopping sheet IS NOT the financial aid award offer.
You can use the Shopping Sheet to help determine if you will need to accept Federal Loans to cover the cost of tuition and/or housing.
Looking at this student’s shopping sheet you will notice in the first box has the COA of $19,640.
The second box has Grants & Scholarships to help pay for college. This student’s total grants and scholarships is $10,668.
You subtract the COA box with the Grants and Scholarships box to give you a Net Costs of $8,972. This is what you will be responsible to pay.
Again you have the Net Costs on the top, plus there are additional options to consider to help you pay for tuition.
Work-Study options. This student was offered $2,546 in work-study. Students can use that towards the total or use that as pocket money.
Loan Options: This student has available a Federal Direct Subsidized and Unsubsidized Loan options.
Additional Options: There are additional options that are not listed but you will find the Parent Plus option.
Please consider your individual cost may vary from the published cost, based on what CHOICES you make regarding things like your apartment and how often you may eat out.

10. Applying for Federal Direct Loans
Unsubsidized Loans “Non-need based” loans. Interest accrues while you’re in school.
Subsidized Loans “Need based” loans the government pays the interest while you are in school.
View your loans on your FAN. Accept, Reduce or Decline offered loans.
Students apply for Direct Subsidized Loans and Direct Unsubsidized Loans
Parents apply for Direct PLUS Loans
Master promissory note (MPN) and entrance counseling completed on studentloans.gov
Notes: Apply your scholarships, grants and work-study awards first to your direct educational expenses (tuition, housing and books)
Know and keep track of what you spend on personal items—create a budget
Consider other sources of funding like savings, help from parents and family
Don’t need or want the full Subsidized and Unsubsidized loans offered to you? DECLINE the Unsubsidized, REDUCE the Subsidized.
Declined loans (on the FAN) can be reinstated AT ANY TIME during the semester
Reduced loans can be reoffered if you discover you need more – most are processed and funded in 5-7 business days.
Complete the Federal Direct Loan MPN and the Entrance Counseling. PLEASE USE YOUR OWN FSA ID TO SIGN IN !!
You can apply for DL’s even if you are currently under 18 years of age. No credit check on Student Loans. Repayment deferred while in school.
Understand the COST of taking out a loan (1.07% Origination fees per disbursement, accruing interest on Unsubsidized)
Still not sure? Disbursed loan funds can be returned to OFA within the first 15 days for full cancellation. Loan funds can be returned at any time during the semester, but after the first 15 days, you may owe the federal loan origination fee. You can also pay back student/parent loans early directly on studentloans.gov. If you accepted the full amount of loans offered, but decide that was too much/more than you needed after fall aid is disbursed, you can ask OFA to either reduce or cancel DL loans for spring.

11. Applying for Federal Loans
Sign in at StudentLoans.gov using your Federal Student Aid ID (same one you use to fill out the FAFSA)
Complete:
Entrance Loan Counseling
Master Promissory Note
Notes: Student borrowers need to complete an MPN and Entrance Counseling the first time they borrow a student loan.
Parent borrowers need to complete the PLUS MPN and PLUS Request.
PLEASE USE YOUR OWN FSA ID TO SIGN IN !!

12. Applying for a Federal Direct Parent PLUS Loan
Complete the Parent PLUS Request to request a loan amount
Complete the PLUS Loan’s Master Promissory Note
Notes: The PLUS request allows the Department of Education to run a credit check on the parent borrower. Also on the PLUS request you will be given the option to either borrow the maximum allowed, as determined by the school or request a SPECIFIC (lower) amount. The “maximum allowed as determined by the school” is the amount the accepts on the FAN. Apply for federal loans for the fall/spring school year, August – May.
Should the parent plus loan be DENIED, the student can contact OSFA and request an additional federal direct unsubsidized loan, for up to $4000 for the school year. The parent borrower can also reapply with an Endorser.

13. How to Pay for Tuition
You will soon register for Fall classes. Once you have registered UT will send out an official tuition bill mid-July and a due date in which payment must be made or classes will be dropped.
If you have enough financial aid to pay for the full amount of tuition then this screen will appear. Once the “Pay with FA” button is clicked you will see the “your registration is complete and your courses are secured.”

14. How to Pay for Tuition
If the student did not accept sufficient aid to cover the full amount of tuition then the student will need to pay the amount due by the respected due date.
Payment options can be access via SAR How to pay.

15. Releasing Awards
Financial aid begins to release shortly before classes start
Financial aid is applied to UT Austin bills for tuition and on campus housing
Any remaining financial aid funds are disbursed to the student via direct deposit or check
*If you rely on financial aid for off-campus housing keep in mind the disbursement dates)
Financial aid begins releasing about a few days before the first day of class EACH semester – so late August for Fall, Mid-January for Spring. OFA processes disbursement nightly throughout the semester.
Financial aid is applied to tuition first, then on campus housing, then anything else (like testing fees, ID card, deferred orientation fees, etc.) on What I Owe.  Left over funds are released to the student. Checks are payable TO THE STUDENT via paper check to student’s address or direct deposit.
It is encouraged that you set up a direct deposit account which can be found on your CA$H page. It just makes things easier.

16. FERPA
The Federal Educational Right to Privacy Act (FERPA) protects sensitive student information, including information in the FAFSA or about a financial aid package.
A FERPA release is required for the Office of Scholarships and Financial Aid to be able to discuss a student’s financial aid with a parent
Ask your student to complete the FERPA release in CASH
All financial aid data is protected under FERPA
WE do understand that your parents will have questions about your aid file on occasion and we’re happy to assist them, but please understand that we are bound by FERPA.
Set up a FERPA release authorization (password) for them on your CA$H page.
FERPA release for Financial aid is separate from UT DIRECT E-proxy.

17. FAQ’s How do I receive my Hazlewood Benefits?
How do I use Texas Tomorrow Fund or a 529 prepaid tuition plan?
What is Satisfactory Academic Progress (SAP)?
Some of you may have federal or state military benefits. At UT, the Office of Veteran’s Affairs would be your contact.
If you have a Texas Tomorrow Fund or 529 tuition prepaid tuition plan, you’ll need to speak with Student Account Receivable about this as well to be sure that those funds are applied properly.
SAP are standards that ensure you are successfully completing your coursework and can continue to receive financial aid. All students receiving financial aid are required to meet SAP standards.
Minimum GPA
2.00 Cumulative GPA (UG)
3.0 Cumulative GPA (GR)
Minimum Pace
Successfully complete at least 75% of attempted credit hours
Maximum Timeframe
134% of your program length

18. Don’t Forget
Read all correspondence from UT Austin. is used for official university communication.
Remember to monitor the status of your financial aid via CA$H.
Submit all required documents to avoid delays.
Set up Direct Deposit.
Finalize registration by choosing a tuition payment option.
Submit the FAFSA beginning October 1st.
The Continuing Scholarship Application is available November 1st.
In closing, UT Austin and OSFA primarily uses to communicate with students, so PLEASE make sure your student is reading their and keeps their UT directory information updated.
Periodically check CA$H for updates on things you need to submit or do for financial aid. Disbursement info will also be displayed on CA$H.
Set up FERPA authorization for your parents so OSFA can talk to them about your financial aid.
Any US bank account can be designated for UT Direct Deposit. Funds are sent via EFT and generally available in 2-3 business days after disbursement.
Secure your tuition bill by choosing a payment option.
Please do not forget these two important dates for the FAFSA application will open October 1 and the Continuing Scholarship Application opens up November 1. Perhaps set up a time during the Thanksgiving break to fill these two applications out.

19. Contact Us In person at our office:
Student Services Building (SSB), 3rd floor
Monday, Tuesday, Thursday and Friday, 8:30 a.m. – 4:30 p.m.
Wednesday, 9 a.m. – 4:30 p.m. By
Phone:
Online: finaid.utexas.edu
Fax:
Thank you so very much for your attention and I hope you found our presentation informative and helpful !
OSFA looks forward to assisting you and your student while they are here at UT AUSTIN.
HOOK EM HORNS !!