1. By Dionne L. Hallback Associate Director Office of Student Financial Assistance Revised 4/30/2014 TCNJ FINANCIAL AID PROCESS EDUCATIONAL OPPORTUNITY FUND JUNIOR AND SENIOR YEAR

2.  2014-2015 FAFSA Online application: www.fafsa.ed.gov www.fafsa.ed.gov  File the FAFSA by May 15, 2014 before you leave for the end of the Spring semester

3. HESAA – EOF, TAG AND ADDITIONAL QUESTIONS  June 1 st is the deadline to all TAG renewal students to have the FAFSA on file. IF YOU DON’T HAVE FAFSA ONFILE YOU ARE INELIGIBE FOR EOF AND TAG!!!  “HESAA Additional Questions: Option A: Click the option to answer the ‘State Application’ on the FAFSA Confirmation page Option B: Log-in to www.hesaa.org and click the ‘red triangle’www.hesaa.org

4. MONITOR YOUR TCNJ EMAIL AND PAW ACCOUNT DURING THE SUMMER

5. FAFSA FAFSA is available January 1 st Complete your FAFSA by March 15 th HESAA requires all continuing students FAFSA on file by June 1 st Verification and Awarding April – Verification process begins: check your PAWS To Do List and TCNJ Email June - Awarding begins for continuing students on a weekly basis Billing and De-Registration July – Fall bill email notifications are sent (Office of Student Accounts) August – Fall bill is due August – De-Registration FINANCIAL AID TIMELINE

6.  Pell Grant: Federal grant awarded on the basis of need and college costs.  2014-2015 Current year minimum/maximum: $602 - $5730  Tuition Aid Grant (TAG): State grant awarded on the basis of need, cost of attendance and available funding.  Current year minimum/maximum: $2516 - $8768 (the new award amounts for 2014-2015 are not announced until July 1 st )  NJ ED Opportunity Fund (EOF): Standard EOF grant awarded to all students in the program.  2014-2015: $1150 (commuter) and $1400 (on campus)  Supplemental Opportunity Grant (SEOG): Awarded to the neediest students as defined by the FAFSA.  Current year: $1500 (the new award amounts for 2014-2015 are not announced until mid-June) GRANTS

7. LevelAmountUnitsCGPA Level 1$500.00122.250 Level 2$1,000.0013.752.500 Level 3$3,000.00152.750 Level 4$5,000.00163.000 EOF INCENTIVE SCHOLARSHIP Junior Year LevelAmountUnitsCGPA Level 1$500.00182.250 Level 2$1,000.00202.500 Level 3$3,000.00222.750 Level 4$5,000.00243.000 Senior Year Questions regarding the EOF Incentive Scholarship can be directed to Joan Pageau at pageau@tcnj.edu or 609-771-3142pageau@tcnj.edu

8. LoanApplication Process InterestFeesAmount Borrowed StaffordFAFSA3.86% *Any changes will be announced 7/1/14 1%Depends on academic year PerkinsFAFSA5%0Managed by the FA Office ($3,000) NJ Class*HESAA.orgOption 1: 5.49% Option 2: 6.65% Option 3: 8.05% *Any changes will be announced 7/1/14 3%Up to cost of attendance Parent PLUS*PLUS Application (TCNJ Financial Aid Website under Online Services) 6.41% *Any changes will be announced 7/1/14 4.204%Up to cost of attendance **If the parent is denied the students are awarded additional Federal Direct Unsubsidized Loan ($5000.00 as a junior or senior) Alternative*Lender ApplicationSee lender websiteNoUp to cost of attendance LOAN PROGRAMS *Students must complete a separate application for these loan programs. Application should be completed in June/July to ensure the loan is processed and awarded by August.

9. TERMDEFINITION Origination FeeProcessing fee that is deducted from the gross amount of the loan. Loan Fee (Administrative Fee) Amount charged by the lender that is deducted from the loan DefermentPostponement of payment of a student loan. Deferments are sometimes associated with higher interest rates Interest RatesAn interest rate is the rate at which interest is paid by a borrower (i.e. student) for the use of money that they borrow from a lender (creditor).interestlender Fixed interest rates – do not change Variable interest rates – rate may change during the life of the loan and usually do not exceed a certain percentage. Read the information provided by the lender Co-signerA person with established credit who will co-sign the a student loan. Co-signing often involves a promise to pay another person's debt arising out of contract if that person fails to do so.contract *Students applying for alternative loans must have a co-signer. Promissory NoteThe binding legal document that you must sign when you get a federal student loan. It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. ALTERNATIVE LOANS TIPS/KEY TERMS

10. DIRECT STAFFORD LOANS Dependent Students Independent Student

11.  SallieMae www.SallieMae.com/tcnj  Citizens www.CitizensBank.com/trufitstudentloan  Discover www.DiscoverStudentLoans.com  Wells Fargo www.WellsFargo.com/student ALTERNATIVE LOANS ( TCNJ DOES NOT CERTIFY ANY ALTERNATIVE AND/OR PRIVATE LOAN UNLESS A FAFSA IS ON FILE.) See the Financial Aid website for Alternative Loan List & Online Loan Comparison Tool

12.  FinAid.org  www.finaid.org www.finaid.org  The College Board  www.collegeboard.com www.collegeboard.com  FastWeb.com  www.fastweb.comwww.fastweb.com  GoCollege.com - The Collegiate Websource  www.gocollege.comwww.gocollege.com PRIVATE SCHOLARSHIPS

13. Office of Student Accounts  TuitionPay Payment Plan Features  No interest.  Nominal enrollment fee for the annual payment plan and for each semester payment plan.  No credit check or co-signer needed (this is NOT a loan).  TuitionPay can be used to pay for fall or spring semester study abroad programs.  Semester or Annual Payment Plans  Undergraduate Students – 10 Month Annual or 5 Month Semester  The first five payments are credited to the Fall billing statement and the second five payments are credited to the Spring billing statement.  The payment plan contract is from July to April.  The payments are due on the 25th of every month.  Check with the Office of Student Accounts regarding the enrollment deadline which is usually in August or September.  Enrollment can be completed by phone (1-800-635-0120), or on the web at (https://tuitionpay.salliemae.com/tcnj).https://tuitionpay.salliemae.com/tcnj  Consult the Office of Student Accounts (OSA) for additional questions. OSA is located in Green Hall 119 or call 609-771-2172, email: stuacct@tcnj.edu.stuacct@tcnj.edu INSTALLMENT PAYMENT PLAN

14. Reminder your EOF Promise Book Stipend ends your Sophomore year! BOOKS

15. FINANCIAL AID AND BUDGETING ON CAMPUS EXAMPLE Any financial aid awarded after the Initial Award the student must apply for except the EOFP Incentive Award.

16. FINANCIAL AID AND BUDGETING LIVING OFF CAMPUS EXAMPLE What are your expenses for living off campus? Example: Fall semester (5 months) Reminder: Refund checks are not issued until the following: Fall semester: mid-September Spring semester: mid-February

17. SUMMER FINANCIAL AID Financial Aid for Summer Programs Students Complete the 2014 TCNJ Summer Session Financial Aid Application in PAWS. Instructions are on our website: http://financialaid.pages.tcnj.edu/sources-of- financial-aid/financial-assistance-for-summer-programs-students/ File the 2013-2014 FAFSA or Renewal FAFSA if is not already on file. Your financial aid file must be complete by June 28 th You must have made satisfactory academic progress at the end of the Spring semester to be considered for Summer assistance. Must be enrolled half-time Undergraduate students - enrollment hours of at least 1.5 units Graduate students - enrollment hours of at least 5 credits Types of Financial Aid Federal Stafford Loans – based on remaining eligibility from the previous academic year. Federal Direct Plus Loan Denial – if not used during the academic year Private Loans – students will need a co-signer unless parent or another third party applies for the loan. Private scholarships

18. QUESTIONS

19. CONTACT INFORMATION The Office of Student Financial Assistance Green Hall – Room 101 Dionne L. Hallback or Tom Foga 609-771-2211 osfa@tcnj.edu www.tcnj.edu/~sfs/aid/