1. Student Financial Services My Finances 101 2015-2016 New Student Orientation

2. Who is Student Financial Services (SFS)? We are a team dedicated to servicing all aspects of your student financing needs. We provide: –Integrated counseling on the student account AND financial aid so we can assist students and their families in meeting their financial obligations. –Service through phones, email, and one-on-one counseling. In 2014, SFS responded to nearly 80,000 inquiries from students and families via telephone (60,495), email (10,630), and in-person visits (7,410).

3. Student’s Responsibility Student Financial Services works primarily with students unless they give permission to speak with others (federal regulations stipulate that any academic or financial information belongs to the student). –Students are responsible for ensuring their accounts are financially clear/paid by the billing due dates. –Students should monitor their UDel email for important communications. All correspondences, including reminders of bills/when balances are due, is through email. –Students must actively grant access if they wish to share “My Finances” with a parent, guardian, or other third party.

4. UD Self-Service Options UDSIS – Student Information System −Largely replaces My Blue Hen Home −Available now, as long as students have created their UDelNet/UD emails –What students can do: o Academics - view course schedules/grades and manage registration o Financial – access My Finances, review financial aid, decline student loans, review “To Do List”, request refund o Grant access to My Finances through Parent/Guardian Services

5. My Finances - Access SFS uses email for most communications, including when aid is processed and when balances are due. Students must use UDSIS to grant access to “My Finances” and other Parent Guardian Services. A student’s UDel email and any email provided when granting authorization to parent or guardian will receive notifications when a balance is due. Test Student-SFS 702279054

6. My Finances - Access Once your student grants you My Finances access, you will receive an email from consult@udel.edu with the subject line “UD Parent/Guardian Services Invitation”. Clicking the link in the email will direct you to the site where you can set up your account. Follow the prompts to complete your access setup.

7. My Finances Resources  Financial Aid Award Notice provides a view of the aid offered for the full academic year. It supplements the student’s access in UDSIS.  To Do List and Announcements displays to-do items required to process financial aid or other important messages.  Make a payment shows any pending financial aid and allows users to report additional aid, make online payments,, or indicate a payment is being mailed.  Account activity / Statements allows you to view charges and payments on your account and download spreadsheet- or PDF-style statements.  1098-T Tax Form will be available by end of January each year and can be used for tax form preparation in claiming educational benefits.

8. My Finances Financial Aid Awards This view is a supplement to the Financial Aid view students access in UDSIS. Loans can only be declined or reduced from UDSIS. Grants, scholarships, loans, and work- study awards have terms and conditions that should be reviewed. Amount will appear in gray once that award has disbursed. Awards not grayed out may require additional action per the “To Do List”.

9. My Finances Account activity / Statements Review detailed information related to charges and payments posted to student account. Download pdf statements or account information in Excel in total or by term.

10. How to Keep Account in Good Standing Students must be “Financially Cleared” each semester by the billing due dates to avoid late fees being assessed to their student accounts. To do this, the student or their authorized Parent/Guardian should ensure the following: –There is enough pending aid to cover the balance due, or –Full payment is made for the balance due* –Partial payment is made for the balance due using the Installment Plan (spreads payments over four months each semester)* * Less financial aid. Ensure all to-do items are complete so aid may disburse by start of classes. My Finances will guide you through these options.

11. Managing the Student Account Review pending (non-disbursed) financial aid. Pending aid consists of funds coming directly to the University, e.g., Federal Direct Student Loans. If expected financial resources are missing, click the pencil icon below Additional credits to indicate other sources of aid.

12. Managing the Student Account Select the type of credit/funding* from the drop down menu. Enter the amount of the credit/funding. Enter source of funding in the Comments box. Click Submit. *For example: 529 Plans, outside scholarships, and/or loans. This confirms why no payment is being made if balance will be fully covered or allows you to pay the remaining balance after aid and reported credits.

13. Managing the Student Account Note the amount in the Additional credit cell is no longer $0.00. The payment cell now shows a reduction in the amount owed by the pending financial aid and, temporarily, the additional credit amounts. The full payment amount and the installment amount, were reduced.

14. Choose your option: –No payment is being made: confirm aid will cover balance due (will have option to add FLEX) −Full payment −Partial payment: Monthly Installment Plan ($50 fee per semester) Payment Method: −Online check −Credit card (2.75% fee) −Mail a check Agree to the terms and conditions. Managing the Student Account

15. Final step summarizes your payment details. Clicking Next step will take you to CASHNet, UD’s third party payment system, where you can complete your transaction. You will receive a confirmation email after you submit your payment. Managing the Student Account

16. Academic Year Timeline – Costs/Aid Spring: Students receive a cost estimate and a financial aid award based on estimated tuition/costs and aid eligibility as a prospective student. Early July: New rates announced for the 2015-2016 academic year. Mid-July: My Finances site updated with Fall billing and/or financial aid activity; students and any authorized user(s) sent email alerting them they can view updates and make any appropriate payment(s). Early September: Financial aid is disbursed to students’ accounts around the start of the academic term (it appears as “Pending Aid” prior to that point). Students should refer to the To Do List to ensure all action items are completed before we can disburse their financial aid. Students with pending loans who wish to decline these loans may still do so through UDSIS.

17. Academic Year Timeline – Billing The installment plan allows families to spread each semester’s payments over four months. There is a $50 enrollment fee per semester, which will appear on the student account on the following billing notification, for this option. Changes in balance are incorporated into the monthly installments. Failure to make payment by the due dates will result in a $55 late fee per month for those who do not enroll in the installment plan. Late installment plan payments will be assessed a $25 late fee. Fall SemesterSpring Semester Semester Billing Notification SentMid-JulyMid-December Semester Payment Due DateAugust 1January 4 Installment Plan Due DatesAugust 1January 4 September 1February 4 October 1March 4 November 1April 4

18. Financial Aid Renewability University Scholarships*: Renewed automatically each June provided student maintains a 3.0 minimum Grade Point Averages (GPA) and successfully completes 12 credit hours per fall/spring semester. University Grants: Renewed automatically each June provided student maintains a 2.0 minimum GPA and successfully completes 12 credit hours per fall/spring semester. Also requires family file FAFSA and demonstrate equivalent level of financial need for subsequent year. Federal Direct Student Loans: Renewed automatically for maximum eligibility provided family files the FAFSA. Student required to maintain minimum 2.0 GPA and successfully complete 67% of attempted coursework. Other Loans (Federal PLUS or Alternative): Requires application each year, and Federal PLUS Loan requires that family file the FAFSA. *All students are considered for endowment support for the subsequent academic year each June. Families are required to file the FAFSA for consideration.

19. A Note on Student Health Insurance Requirement Students are required to have health insurance, and UD requires students provide proof of coverage or purchase insurance. Already insured: Students can waive University coverage by completing online waiver at http://www.universityhealthplans.com. Need Insurance: Students can enroll in the University’s Student Health Insurance Plan online at http://www.universityhealthplans.com. Note: Accounts are automatically charged the University health insurance premium (Health Insurance UD Plan). To receive the offsetting credit, students must complete the waiver process (Waive Health Insurance UD Plan).

20. Additional Sessions Other slide presentations available online for your review. –Financial Aid Next Steps: How to Finalize Your Financial Aid –Educational Loan Borrowing

21. Questions After Today Online –SFS Website: www.udel.edu/sfs –AskSFS: www.udel.edu/asksfs Phone –302-831-2126 In Person –Student Services Building 30 Lovett Avenue, Newark, DE 19716 –Office Hours: Monday-Friday 8:00 a.m. to 5:00 p.m.