UNM-Valencia

Financial Aid

Financial Aid

What Is Financial Aid?

• Scholarships

• Grants

• Loans

• Student Employment opportunities

Financial Aid is Available…

from the following:

•Federal government

•State of New Mexico

•University of New Mexico

•Tribal agencies

•Scholarships

Free Application for Federal Student Aid (FAFSA)

File the FAFSA on the Web at: www.fafsa.gov

UNM’s priority

filing date is March 1st

To complete the FAFSA you will need:

•Social Security Number•Taxed and Untaxed Income•Family information

•File your taxes as early as possible

•You may use estimated tax information to meet the priority date

Cost of Attendance

•Tuition and Fees•Room and Board•Books and Supplies•Transportation•Miscellaneous•Costs vary between universities

Expected Family ContributionEFC is a term used in the college financial aid process in the United States to determine an applicant's eligibility for federal student aid.

You can find your EFC on the Student Aid Report that is mailed to you after you complete your FAFSA.

What is Financial Need?

Cost of attendanceminus

Expected family contribution

equals

“Financial need”

Dependent student

living with parent

Dependent student living offcampus

Independent student living Off campus

Tuition & Fees 1562 1562 1562

Room & Board 2858 7948 9058

Books & Supply 1064 1064 1064

Transportation 1660 1660 1792

Miscellaneous 1860 3044 3286

Total $8756 $13846 $15474

UNM VC Undergraduate Budget

2014/2015

Scholarships

• Eligibility requirements vary• May require FAFSA• Deadlines and application procedures vary

• Where can I find scholarships?

• Internet: www.fastweb.com• Scholarship Office • Check with your tribal higher

education office

Grants

• Does not have to be paid back• Usually awarded on the basis of

financial need• Federal Pell Grant• Federal Supplemental Educational

Opportunity Grant (SEOG)• State Student Incentive Grant (SSIG)• UNM Legislative Grants

Loans

• Money students and parents borrow to help pay educational expenses.

• Repayment usually begins six months after graduation• Subsidized Stafford• Unsubsidized Stafford• Parent Loan (PLUS)

Student Employment

• Workstudy (Need & No-Need)• Requires FAFSA

• Student Employment• No FAFSA needed

Allows students to earn money to help pay educational costs

Student Employment Website

http://unmjobs.unm.edu

Satisfactory Academic Progress (SAP)

Federal regulations require that students maintain satisfactory academic progress.

•2.0 Cumulative GPA

•67% Completion Average

•150% of Required Degree Hours

Bridge to Success Scholarship

• Complete a FAFSA- Must be Non Pell Grant Eligible• Be a New Mexico resident Graduated from a NM

Public (or accredited private) high school or a NM GED recipient

• Enrolled full-time at the UNM-Valencia Campus• Must have a 2.5 GPA or 166 on GED• Awarded first semester of attendance only

Legislative Lottery ScholarshipPays tuition onlyBegins 2nd semesterNo application required

Requirements:•NM Resident•Received a NM high school diploma or NM GED•Full-time student (12credit hours)•Minimum 2.5 GPA

NOTE: Lottery is only available for 3 semesters at UNM-Valencia and repeated courses are not considered in the required 12 credit hours.

UNM-ValenciaFinancial Aid Website

http://vc.unm.edu/finaid/finaid.htm

LoboWebEnter LoboWeb through https://my.unm.edu

Self-Service - LoboWeb

Keeping Track of your Aid

• Lifetime Pell Grant Eligibility• Loan Eligibility

National Student Loan Data System (NSLDS)

http://nslds.ed.gov

Important Web SitesFinancial Aid

https://my.unm.edu

http://vc.unm.edu/finaid/finaid.htm

Scholarships

http://www.fastweb.com

Loan Counseling and Promissory notes

https://studentloans.gov

FAFSA on the Webhttp://www.fafsa.ed.gov

http://finaid.org