govs r.o.w. 2014 scholarship students and families
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Applying for Financial Aidwww.fafsa.gov
Opens January 1st
2014-2015 FAFSA applies to:
Fall 2014
Spring 2015
Summer 2015
Can be completed before taxes have been filed
Use estimated figures
Make corrections with accurate figures after taxes are filed
Must be completed every year
VerificationYour Response is Urgent!
Random selection; notified by e-mail
Verifies the FAFSA is correct
You cannot be awarded until Verification is complete
If selected, we need:
Verification Worksheet (completely filled out)
2013 IRS Tax Return Transcripts—not Tax Returns
Can be loaded into FAFSA with IRS Data Retrieval
Can also be found at irs.gov
Other documents as requested
Check your AP e-mail even after turning in documents!
Financial Aid AwardAnnounced as early as April
Can be checked through:
AP OneStop
AP e-mail
If you receive outside resources: Must Report it to Financial Aid using the
Additional Resources form Scholarships
Discounts
Benefits
This can prevent over-awarding on your account (over-awards sometimes result in billings to the student)
Cost of AttendanceA tool for Financial Aid
Located on OneStop under Award Overview
Not your billing statement
Calculated as the average amount students need for the following all added together:
Tuition & Fees
Books & Supplies
Room & Board
Misc. Expenses
Used as your budget for financial aid
Scholarship Placement InformationCongratulations!
Some scholarships require service hours Examples: Presidential, Dean’s, Howell C. Smith
75 hours are required per semester Failure to complete service hours will result in a
cancellation of the scholarship
Placements are made August 1 Not all will work in their department
Placements are made based on preference listed on Scholarship Confirmation Form
Must meet with supervisor in the first week of school
Tennessee Hope Lottery Scholarshipwww.collegepaystn.com
GPA Requirements
2.75 at 24 and 48 attempted credit hours
3.0 beyond 48 attempted hours
Enrollment Requirements If you registered full-time, stay at full-time
Failure to remain at full-time could result in a permanent loss of the scholarship
If you lose your lottery scholarship: Appeal – Only with extenuating
circumstances
Regain – Every 24 attempted credit hours
Authorization FormOptional
Allows excess financial aid to be applied to:
Bookstore debit program
Health services
Parking tickets
Etc.
May be completed online at:
AP OneStop
Web Self Service
Financial Aid
Eligibility
Authorization Form
Enrollment IntentionsNeeded every year
Required so our office plans for the correct budget
Financial Aid is based on: Enrollment hours
Length of coursework
Attendance throughout the year
The Enrollment Intentions form can prevent over-awarding on your account (over-awards sometimes result in billings to the student)
Enrollment Intentions – “No.”
Failure to enroll the hours you indicate could result in a billing to your account.
Terms & ConditionsAlso needed yearly
Reminds you of important rules regarding aid
Located at:
Onestop.apsu.edu
Web Self Service
Financial Aid & Veteran’s Affairs
Eligibility
Terms and Conditions
LoansAccepting your offers
The offered amount is for the entire aid year
Whatever you accept will automatically be split between the Fall and Spring semesters
Summer semesters are optional and therefore are not built into OneStop for accepting loans
If you plan on attending in summers, you need to leave yourself enough loans remaining to be applied to the summer semester
Loans
Whatever you accept will split between Fall and Spring
If you accept a partial amount, the remainder can be picked up later through an Adjustment Form or in the Summer semester
LoansAdditional Requirements
Direct Loan Entrance Counseling
Reviews all loan regulations
Master Promissory Note
You affirm that you are responsible for repaying your loans
Both must be completed at studentloans.gov
Loans will not pay out unless these requirements have been completed
These are only required the first time you accept loans, and are good for 10 years afterward
Debt ManagementBorrow Responsibly
Aggregate Loan Limits – the total you can borrow
Undergraduate Dependent = $31,000
Undergraduate Independent = $57,500
Graduate = $138,500
Maxing out on loans each year and taking more than 4 years to graduate could cause you to exhaust your limits BEFORE you graduate.
The average loan debt upon graduation: $25,000