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Published byCatherine Cleopatra Mitchell Modified over 9 years ago
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OSFAE Functions Award financial aid in compliance with all federal & state regulatory requirements and University policies. Administer University merit, donor and outside scholarships including the ROTC subsidy program Certify student & parent loan eligibility Manage the Student Employment Process
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Applying for Financial Aid Free Application For Federal Student Aid (FAFSA) www.fafsa.gov www.pin.ed.gov
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Applies student for federal financial aid including Federal Pell Grant, Federal Direct Student Loans, Federal Direct (parent) PLUS loans Must submit the FAFSA each year, available January 1 st. Preferred Filing Deadline April 15 th (continuing students)
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Applying for Financial Aid CSS Profile student.collegeboard.org Click on Student Tools
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Applies student for University need-based aid and campus based-aid including Coral Grant Must submit CSS Profile each year, available October 1 st but complete by April 15 th (continuing students)
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State Grants and Scholarships FL Residents: 1.Submit Certificate of FL residency application with supporting documentation, 1 st year only 2.Form is available at: www.miami.edu/ofaswww.miami.edu/ofas 3.FL Aid (and most other state aid) begins paying after drop/add period
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FL Resident Access Grant $3,000 – FL Residents only (choosing a private institution) FL Bright Futures *Florida Academic Scholarship - $103/credit *Florida Medallion Scholarship - $77/credit Bright Futures award estimated at 15 credits/sem Will disburse according to actual enrollment
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FL Student Assistance Grant Awards vary up to $2200/yr Based on early FAFSA filing Need-based program File early!
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Student Loans: Federal Direct Subsidized Federal Direct Unsubsidized Federal Perkins Loan Student Loan Housekeeping Items Accept loans offered on CaneLink Complete Entrance Counseling Sign Master Promissory Note(s)
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Federal Direct Loans (sub/unsub) Students accepting Federal Direct Loans can go to www.studentloans.gov to sign their MPN and complete www.studentloans.gov entrance counseling
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Federal Perkins Loan: Students awarded and accepting Perkins Loan will complete the MPN within Canelink and complete Entrance Interview requirements through MappingYourFuture.org.
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Federal Parent PLUS Loan Process Once credit-approved, the school will be notified.
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Private/Alternative Loans Lender of your choice; not federally regulated Once credit-approved, is sent to the school for certification based on the cost of attendance for the loan period. Private Lender List http://www.elmselect.com/link/query?schoolid=485
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Change of Circumstances If you experience a loss of income due to: Unemployment Separation or divorce Death of parent’s spouse If you have expenses related to: Excessive medical or dental expenses paid (not just incurred) which exceed 11% of AGI Must have CSS Profile on file and submit signed copies of most recent federal taxes and parent W-2s.
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Ver-i-fi-ca-tion (noun) The act or process of verifying. NEW! IRS Data Retrieval Tool: An easier way to provide tax information. With just a few simple steps, students & parents who have completed their IRS tax return will be able to view & transfer their tax information into their FAFSA. Check CaneLink “To Do List” for required actions
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Satisfactory Academic Progress - SAP 4 Programs to measure SAP Qualitative Quantitative
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Merit – Academic Scholarships 24 credits/year – 3.0 or above FL State Grants & Scholarships 24 credits/yr – GPA Requirements UM Need-based complete 67% of attempted credits GPA of at least 1.7-2.0 depending on academic level. Federal complete 67% of attempted credits GPA of at least 1.7-2.0 depending on academic level. Refer to www.miami.edu/ofas and click on Satisfactory Academic Progresswww.miami.edu/ofas
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Important Tasks: 1)Complete any outstanding items on your “to-do” list; 2)Accept/Decline/Reduce any offered financial assistance; 3)Complete Loan MPN and/or Entrance Requirements 4)Provide Federal Student Aid Permissions; 5)Send any outside scholarship information to OSFAE; 6)Complete Sibling Enrollment Confirmation process by Oct 1 st.
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OSAS Functions Issue e-bill notifications Receive & process payments Provide monthly payment plan option Process 3 rd party sponsor billing: -FL Prepaid -Gov. Sponsors Process refunds
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CaneLink
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Proxy Access The Family Rights & Privacy Act (FERPA) -Protects confidentiality of student information -Authorization required to view or discuss student finances -Granted through Canelink
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Viewing & Paying your Bill
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Viewing & Paying your Bill (Cont.)
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Office of Student Accounts Daniela Salaverria Associate Director Office of Student Accounts Contact Information: www.miami.edu/osas 305-284-6430 option #5 saccounts@miami.edu
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Agenda E-Bill Notification Set up Proxy/Delegate Access Important Dates Guide to Viewing your Bill Payment Methods Third party sponsor billing Monthly Payment Plan Credit Balances/Refunds Title IV Authorization
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Important Dates Payment Due Date: Undergraduate students: August 1 st, 2015 Drop Refund Due Dates: Fall 2015 Drop Refund Schedule
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E-Bill Notification Important: UM e-mail Delegate Access Login to Account Regularly
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Delegate Access Become an Authorized User! The Family Rights & Privacy Act (FERPA) Student Portal Canelink.miami.edu
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Tuition & Fees Academic Year 2015-2016 **Health Insurance: $2,466.00
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Room & Board Academic Year 2015-2016
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CaneLink
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Viewing & Paying your Bill
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Viewing & Paying your Bill (Cont.)
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Payment Methods Online – E-Check (ACH) – Credit card *2.5% merchant fee In person – Cash – Check *returns subject to a fee At the bank – Wire Transfer
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Monthly Payment Plan - Option Fall/Spring only – 4 months – 3% fee Apply via Canelink – Account Inquiry – Account Services – Payment Plan
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3 rd Party Sponsors FL Prepaid 2014-2015 UNIV RATES – Tuition: $116.67 per credit – Local fees: $36.59 per credit – Housing: $2,702.72 per term HOW TO SETUP – UM Authorization Form – FL Prepaid Transfer From
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FL Prepaid Forms FL Prepaid Transfer FormUM – FL Prepaid Authorization Form FL Prepaid
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Refunds If monies received exceed charges due Email notifications Direct Deposit! Paper checks
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How to Apply Title IV Fed Aid to Other Charges Title IV funds include: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, Federal Perkins Loans and Federal Grad PLUS loans. Federal student financial aid can only cover “institutional charges” as defined by the DOE: Tuition & Mandatory Fees. Unless authorization is received, federal financial aid cannot be used to cover non-institutional charges such as: Health Insurance fees, library fines, damage fees, returned check fees, lost key fees or any other charges not directly tied to taking a class.
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Contact Information Ashe Administration BuildingContact an Advisor: In person Mon-Friday 8:30am – 5:00pm By telephone 305-284-6430 option #5 By email saccounts@miami.edu www.miami.edu/osas
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Contact Information (Other offices) Other Important Phone Numbers Dining Services 305-284-3584 Health Services 305-284-9100 Housing 305-284-4505 Registrar 305-284-2294
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Questions? Office of Student Financial Assistance and Employment Rhodes Building 305-284-5212 ofas@miami.edu Office of Student Accounts Services Ashe Building 305-284-6430 option #5 osas@miami.edu
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