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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 [email protected] 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
[email protected]/finaid
UNC Wilmington Office of Scholarships & Financial Aid – FacebookUNCWFINAID - Twitter