View
214
Download
0
Category
Tags:
Preview:
Citation preview
Illinois State UniversityFinancial Aid OfficeCampus Box 2320
Normal, IL 61790-2320(309) 438-2231
FAX (309) 438-3755
Eureka CollegeFinancial Aid Office
300 East College AveEureka, IL 61530(309) 467-6311
FAX (309) 467-6897
Assist students in paying for college
How? Evaluating family’s eligibility for
need-based aid Distributing limited resources
in an equitable manner
1. Submit the Free Application for Federal Student Aid (FAFSA) prior to school’s priority filing date
2. Check information from each school to determine:
Required application materials Application deadlines
Collects family’s personal and financial information used to calculate the student’s EFC
Complete FAFSA on the Web at fafsa.ed.gov
www.pin.ed.gov
For Entrance Counseling and Master Promissory Notes
Federal State Private
Corporate Churches Clubs or organizations Banks
Federal Pell Supplemental Educational
Opportunity Grant
State Monetary Award Program (Tuition & Fees)
Scholarship SearchesScholarship Searches-Fast Web (National)-Institutional-Departmental
Academic
Athletic
Other talent-based scholarships
Do I need a job?
• Helps earn money for expenses• Helps with time management• Research has proven students who work 10 to 15 hours a week have a better GPA than those who do not work at all.
Subsidized (Need Based)-Interest paid by government while enrolled
Unsubsidized -Interest paid by student/parent
Base Annual Loan Limits- combined subsidized and unsubsidized
$5,500 for undergraduatestudents with < 30 cumulative hours
Current Interest Rate:
7/1/2011 – 6/30/2012
UNSUB 6.8% Fixed
SUB 3.4% Fixed
Six-month grace period
Maximum repayment period between 10 and 20 years depending on repayment plan chosen
Deferment and cancellation provisions available
PLUS Loans-federal loan
Alternative Loans-private loan
Must complete FAFSA Allows a parent to borrow
money to assist with cost of attendance
Federal Direct Loan
Current fixed interest rate 7/1/2011 – 6/30/2012 = 7.9%7.9%
Payment begins 60 days after 2nd disbursement
Deferment option available
Private loans with co-signer
Allows students to borrow up to Cost of Attendance minus other aid
Installment Plans
College Illinois
Other 529 Education Funds
JAN FEB MAR APR MAY JUNE JULY
Fill Out FAFSA
Beginning January 1
Complete Additional
Requests for Documentation
ASAP
Check with School about
FAFSA Deadline
Award Letters Sent
Deadline to Decide Which
School Attending
Summer Orientation
Billing Cycle Begins
Scholarship Searches
Complete the FAFSA - After January 1 Each Year
Keep copies of all correspondence
Respond to all correspondence
Recommended