Melissa Van Meter Associate Director Office of Student Financial Aid and Scholarships

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1 Melissa Van Meter Associate Director Office of Student Financial Aid and Scholarships

2 Award Review Cost Details Out-of-Pocket Expenses OHIO Student Center Next Steps

3 What was I awarded? Do I have to pay it back? How do I accept it?

4 Awards are listed in a specific order: Scholarships Grants Federal Work-Study Federal Direct Loans Subsidized Unsubsidized Two columns: Annual Gross Amount Applicable Aid

5 Scholarships View award messages on OHIO Student Center Be aware of renewability criteria Must enroll full-time Grants Gift aid Awarded annually based on FAFSA results

6 Federal Work-Study Select position at Paid via bi-weekly paycheck Not applied to charges Federal Direct Loans Subsidized Loans No interest accrued while enrolled at least half-time Unsubsidized Loans Interest accrues when disbursed Repayment begins 6 months after graduation, stopped attendance, or dropping below half-time Must accept in OHIO Student Center Must complete Loan Agreement and Entrance Counseling

7 What is the OHIO Guarantee? When do I get a bill? How must will it cost?

8 OHIO Guarantee Single Fixed Rate for Four Years Includes Most Fees (orientation, technology, graduation, etc.) Athens and regional campuses Ohio residents and non-residents Cost Estimates Full-time annual enrollment Standard Double Room/Flex 14 Meal Plan

9 Account balance notifications Sent August 1 ed to student Authorized user option Aid must be finalized Due dates 21 st day of each month 1.5% late fee monthly on unpaid balance Office of the Bursar

10 How do I figure out my balance? Can I get more aid? What other options do I have?

11 Tuition and Fees + Residence Hall and Meal Plan - Applicable Aid (includes net loan amount, does not include Federal Work-Study) = Annual Out-of-Pocket Expense

12 Compare out-of-pocket expenses, not scholarship offers Award letter displays annual amounts Aid will be divided over fall and spring semesters Charges are applied per semester Plan for paying the balance Parent Loan for Undergraduate Students (PLUS) Private Loan student borrower or parent borrower Monthly Payment Plan

13 Parent Loan for Undergraduate Students (PLUS) Parent is borrower Must be credit-worthy or have credit-worthy co-signer Repayment can be deferred until 6 months after student graduates, stops attending, or drops below half-time Private Loan Student or parent borrower Student borrower must have credit-worthy co-signer Parent borrower must be credit-worthy or have credit-worthy co-signer Repayment begins 6 months after student graduates, stops attending, or drops below half-time

14 Parent PLUS Loan Private Loan Borrower Parent Student or Parent Co-signer Credit Check Interest Repayment not required if parent is credit-worthy focuses on adverse credit history fixed rate 7% for , changes July 1; interest accrues when disbursed 60 days after final disbursement, can be deferred until 6 months after graduation/stopped attendance needed for student, not needed if parent is credit-worthy focuses on credit score and debt-toincome ratios rate varies by lender and credit; interest accrues when disbursed varies by lender, typically 6 months after graduation/stopped attendance Loan Amount up to cost of attendance up to cost of attendance

15 PLUS/Private Loan Amount Exact out-of-pocket figure Up to total cost of attendance Out-of-Pocket Cost: $8,558 Cost of Attendance: $29,054 - Total Financial Aid: $16,656 = Remaining Amount: $12,398

16 Where do I get more information? How can I access my awards online? Where do I accept my loans?

17 To Do List Finances account balance, payments, authorized user view and accept/decline awards

18 OHIO Student Center To Do List complete all action items

19 OHIO Student Center Finances billing and financial aid Financial Aid View Financial Aid Accept/Decline Awards

20 OHIO Student Center View Financial Aid Annual and term award information

21 OHIO Student Center Accept/Decline Award View award information

22 OHIO Student Center Accept/Decline Award Make award decisions

23 What do I need to do now? What happens next? Where do I go from here?

24 Visit the Checklist:

25 Visit Application and Deadlines:

26 Visit OHIO Student Center - Complete all actions on To Do List Accept and/or decline awards Review award information Taking Federal Direct Loans? Go to Complete Loan Agreement (MPN) Complete Entrance Counseling Awarded Federal Work-Study? Go to Search for and select a position Need additional payment options? Go to Learn about Monthly Payment Plan Apply for a PLUS or private loan, if needed

27 Melissa Van Meter Associate Director of Operations Office of Student Financial Aid and Scholarships Chubb Hall Phone Fax