UNC Wilmington Office of Scholarships & Financial Aid Seahawk Saturday September 2015

FINANCIAL AID OVERVIEW

UNC WilmingtonOffice of Scholarships & Financial Aid

Seahawk SaturdaySeptember 2015

Overview

Cost of Attendance & Average Award Applying for aid Verification Types of aid Eligibility Additional Tips VA Benefits Questions

Cost of Attendance (a.k.a. Budget)

Cost of Attendance – UNCW Resident Non-Resident

Tuition and Fees $ 6,647 $20,963Room and Board 9,862 9,862Books and Supplies 1,082 1,082Transportation 1,690 1,690Miscellaneous 1,554 1,554Health Insurance 1,604 1,604Loan Origination Fee 64 64Total $22,503 $36,369

These figures represent the current 15-16 costs

12K 7200 Loans

4800 G/S12K 6K

Loans6K G/S

Applying for aid - FAFSA

The Free Application for Federal Student Aid (FAFSA) is used to determine your eligibility for federal, state and institutional need-based aid.

File early to increase chances of receiving funding. The filing period begins January 1. March 1 is the priority date for UNCW institutional aid. PPY for 2017/18 – apply October 1

http://www.nasfaa.org/ppy_nasfaa_press_release

WWW.FAFSA.ED.GOV

Applying for aid – What’s Needed?

Student’s & Parent’s Social Security Number Student’s driver's license number (if any) Student and parent’s W-2 Forms Student’s (and spouse, if married) Federal Income Tax Return – IRS

Form 1040, 1040A, 1040EZ Parent's Federal Income Tax Return (if a dependent student) Student and parent’s current bank statements Current business and investment mortgage information, business and

farm records, stock, bond, and other investment records

Verification

The Federal Government requires each institution to review files for verification to ensure that FAFSAs are completed accurately

If selected, you may be required to submit: Parent and/or student tax transcripts/professionally prepared tax returns

Data Retrieval Tool reduces the need for these if selected Parent and/or student W2(s) Household Forms (who lives in the home, who is enrolled in college,

untaxed income, SNAP benefits, etc.) Marriage/Divorce certificates or decrees Any other information necessary to resolve any conflicting information

Types of Financial Aid?

Financial aid is monetary assistance provided to students to pay for the costs associated with their education.

Grants Scholarships

LoansWork study Employmen

t

UNCW Scholarship Information

Department Website Key Dates

General Scholarship Application

www.uncw.edu/finaid Feb 1 – May 1

Honors College www.uncw.edu/honors

Scholarships offered by the Office of Scholarships and Financial Aid are need-based and require applicants to file the FAFSA.

Honors, Admissions, and Alumni Scholarships are primarily merit-based.

Loans

A loan is borrowed money that must be repaid with interest.

Federal subsidized loans don’t accrue interest while you are enrolled, but unsubsidized loans do. 4.26 Interest Rate

Plus loan denials give the student additional unsub loan eligibility ($4000 1st/2nd year students; $5000 3rd/4th year students)

Federal Stafford Loan

1st year - $55002nd year - $6500

Federal Stafford Loan

3rd year - $75004th year - $7500

Federal Parent PLUS Loan

*based on credit application

6.84%

Non-Federal Student Loan

*credit-worthy co-signer

Loans

Federal Student Loan Requirements Student must complete

Entrance Counseling Student must complete

Master Promissory Note Complete both at

www.studentloans.gov Use FAFSA PIN as

signature

If the Parent(s) needs a PLUS Loan, they must -

Apply at www.studentloans.gov and be approved

Complete Master Promissory Note

Use FAFSA PIN as signature

Email decision available within 1-2 business days

Work Study – Student Employment The Federal Work Study (FWS) provides part-time jobs, on

and off campus, for undergraduate and graduate students with financial need.

Benefits: Flexibility Opportunity to acquire knowledge and employability skills in a

nurturing environment Insight to campus operations from an administrative perspective Positions are often available that pertain to the student’s course of

study Positions available through America Reads and America Counts

(tutoring in local schools)

Tips on applying for aid Use correct identification numbers (SSN, DOB, DL)

Ensure that the institution has your correct SSN, DOB, and the correct spelling of your name

Use the IRS Data Match, if possible List marital status correctly Include the appropriate number of household members Enter the college code information – UNCW 002984 Keep all forms/documents in a file for the student

VA Benefits - Overview

Apply for eligibility with the VA if you have not done so already. This is done on-line at www.gibill.va.gov After applying, you’ll receive your Certificate of Eligibility. Submit your Certificate of Eligibility to UNCW FA Submit your Class Schedule to UNCW FA each semester

If you have used benefits at a prior school and are continuing with the same benefit, you need to transfer your eligibility to UNCW at www.gibill.va.gov

If you are using Vocational Rehabilitation, request for change of program form from your counselor.

Additional assistance: http://www.uncw.edu/finaid/military.html veterans@uncw.edu or 910-962-3177

Satisfactory Academic Progress (SAP)

In order to maintain eligibility for federal Financial aid, students must maintain Satisfactory Academic Progress (SAP) which involves:

Maintaining the required grade point average (2.00) and Successfully completing 67% of the attempted course work, and Complete program within 150% of program length SAP is checked at end of each semester

FERPA/SeaNet Proxy

Federal Educational Rights and Privacy Act (FERPA)

We cannot discuss the student’s financial record with parents without the expressed written permission of the student.

Students may voluntarily waive their privacy rights to individuals they identify by completing the SeaNet Proxy form on-line

SCROLL DOWN FOR ANNOUNCEMENTS

Questions?

Office of Scholarships & Financial AidWarwick Center

910.962.3177Office Hours 8:30am – 5pm

finaid@uncw.eduwww.uncw.edu/finaid

UNC Wilmington Office of Scholarships & Financial Aid – FacebookUNCWFINAID - Twitter