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Office of Student Financial Services Understanding Financial Aid and Billing

Office of Student Financial Services Understanding Financial Aid and Billing. Discussion Topics. Billing Information and Due Dates Financial Aid and Your Bill Special Notes on Instructions Just Sent Meal Plan and Health Insurance Options Payment Options Planning for the Future Questions.

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Office of Student Financial Services Understanding Financial Aid and Billing

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  1. Office of Student Financial ServicesUnderstanding Financial Aid and Billing

  2. Discussion Topics • Billing Information and Due Dates • Financial Aid and Your Bill • Special Notes on Instructions Just Sent • Meal Plan and Health Insurance Options • Payment Options • Planning for the Future • Questions

  3. Our Website – Check Here Often!

  4. Billing Information • Bills are addressed to the student and mailed to the permanent home address • Parents can become Authorized Payers to view and pay bills • Semester bills are mailed twice a year in July and December • Bills for tuition, room, and board adjustments are sent as they are processed • View bills and aid online 24/7 through HomerConnect for most current information

  5. Billing Dates • Fall semester due date is August 11 • Spring semester due date is January 12 • $200 late fee for unpaid bills; plan early

  6. Financial Aid and Your Bill • Possible Additional Financial Aid (Memo) • Indicates student might need to complete an action to receive the source • Authorized Aid • All information complete; awaiting disbursement date • Federal Work Study will NOT appear as a credit on the bill (more information to follow) • Outside Resources • Fill out and send us “Outside Resources Form” (from our website, under “Documents”)

  7. Special Notes on Financial Aid • Awards are tentative until all documents have been reviewed • Be sure to submit all requested documents to finalize aid(W-2 Statements, Verification Worksheets, etc)

  8. Financial Aid Instructions Sent • Recent information sent to students: • Direct Loan three step process instructions via paper letter • Accept loans via HomerConnect • Entrance Counseling at www.studentloans.gov • Master Promissory Note (MPN) at www.studentloans.gov • Perkins Loan instructions to Ithaca email • https://www.ecsi.net/prom58

  9. Two Choices You Have Available • Student Health Insurance • Charged in fall for the full year • Students with their own coverage may waive our insurance online at: • www.universityhealthplans.com • Must complete the waiver by August 10, 2014 • Meal Plan • Plans cost the same, but vary in number of set meals and “Bonus Bucks” • Change plan options via HomerConnect • Details to follow in Dining presentation

  10. Payment Options • Online payment options • Authorized payer - student may authorize others to view/pay bills • ACH electronic debits from savings or checking account for no fee • AMEX, Discover, MasterCard with a 2.75% transaction fee • Checks or cash • Higher One Tuition Payment Plan • Monthly payment plan • $55 enrollment fee • www.TuitionPaymentPlan.com

  11. Additional Payment Options • Federal PLUS Loan • A federal loan for parents; must submit FAFSA • Interest rate of 7.21%; origination fee of 4.292% will be deducted • Complete our PLUS Loan Request Form available on our website • Complete a Master Promissory Note (MPN) at www.studentloans.gov • Alternative Loans • Private loans available to students with a cosigner. • Unsecured loans • Explore options by viewing “Financing Opportunities” under “Documents” on our website

  12. Planning for the Future • Financial aid normally remains the same from year to year assuming need remains constant • Decreases may occur: • If a change in the number of undergraduate students attending college • If there is a significant increase in income • Endowed scholarships • Application process starts in January, 2015; students should visit their school’s website for possible opportunities

  13. Planning for the Future - Deadlines • Reapply each year by completing the FAFSA • Priority deadline is March 1 for returning students • Aid packages sent via email to returning students beginning in late May once all grades have posted and required documents are received

  14. Questions?

  15. Contact Information We are located: • 2nd Floor of the Peggy Ryan Williams Center Office Hours and Contact Information: • 8:30 – 4:30 Monday-Wednesday • 10:45 – 4:30 Thursday • 8:30 - 2:30 Friday (summer); 8:30 – 4:30 (year) Contact us at: Phone: 800.429.4275 Fax: 607.274.1895 Email: sfs@ithaca.edu Web: www.ithaca.edu/finaid

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