Office of Financial Aid

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• Office of Financial Aid
• Freshman Registration Program
• June 2007

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Free Application for Federal Student Aid (FAFSA)

• The FAFSA is Step One.
• www.fafsa.ed.gov
• All students can qualify for financial aid, even
  without need.
• Its not too late to apply!
• March 15th is considered on-time filing
• Apply in June, process should be completed before
  school begins in the fall
• Apply each year.

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Dept. of Education PINPersonal Identification
Number

• Web site www.pin.ed.gov
• Electronic signature for FAFSA on the web
• Not required, but speeds processing
• Both student and parents get a PIN

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Estimated FamilyContribution (EFC)

• Input Parent and student income and asset
  information
• Federal Methodology
• Result Estimated Family Contribution (EFC)

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Definition of Need

• Cost of Attendance
• - EFC
• Financial Need
• Change in Financial Condition of
• the Family? Contact the FAO!

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Types of Aid

• Gift Aid
• Scholarships
• Grants
• Self-Help Aid
• Work-Study
• Loans

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Grants

• State of WI
• WI Higher Ed. Grant
• WI Undergraduate Minority Retention Grant
• Talent Incentive Program
• WI Indian Assistance Grant
• WI Hearing Visually Impaired Grant

• Federal
• Pell Grant
• Federal Supplemental Education Opportunity Grant
  (FSEOG)
• NEW ACG/SMART GRANTS

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Wisconsin GI Bill Tuition Waiver
www.dva.state.wi/Ben_education.asp

• 100 Tuition remission for qualifying veterans
• 100 Tuition remission for qualifying spouse and
  child of a veteran
• Who died in the line of duty, or
• Has a substantial service-connected disability

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Wisconsin GI Bill Tuition Waiver

• Qualifying Children of Veterans
• The veteran must have entered service as a
  Wisconsin resident
• The student must reside in Wisconsin
• The benefit is available from ages 18 through 25
• Maximum of 8 semesters or 128 credits

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Apply for Reciprocityhttp//www.mohe.state.mn.us
/
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Self-Help Aid

• Job Opportunities
• Work Study
• Loans
• Stafford
• Perkins
• Alternative

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Federal Stafford Loans

• Subsidized Stafford Loan
• Need-based
• Interest paid by government while in school
• Unsubsidized Stafford Loan
• Available regardless of need
• Interest charged and accrues while in school
• FRESHMEN Annual Limit on Stafford Loan
• 3500
• 6.8 Fixed

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Federal Stafford Loans

• Process to secure loan
• Master Promissory Note
• Select a Lender
• Requirements
• On-Line Entrance and exit counseling

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Federal Perkins Loan

• Need-based loan for our highest need students
• Limited Funds available
• Process to secure loan
• MPN Master Promissory Note
• On-line and signed with PIN
• 5 Interest Rate

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Alternative Loans

• Federal PLUS Loan
• Opportunity for parents to borrow
• Similar to a consumer loan-based on credit
• Complete FAFSA
• Complete PLUS Loan Request/Authorization On Line
  at http//www.uwstout.edu/finaid/plusapp.htm
• Interest Rate 8.5 Fixed

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Alternative Loans (cont.)

• SELF Loan
• State Loan Program
• For Minnesota students only
• Student borrows, requires a co-signer
• Steps
• Link to MOHE
• Complete entrance counseling
• Co-Signer Complete Pre-Approval
• Borrower (Student) completes SELF Loan
  Application Promissory Note On-Line, Prints,
  Signs and
• Returns to MN Higher Education Office
• You must re-apply each year for the SELF Loan.

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Alternative Loans (cont.)

• Private Student Loans from Lenders
• Based on Credit
• Often required Co-Signer
• Generally Higher Interest Rates
• Student Borrows
• On-Line Application and electronic processing
  Link from Financial Aid website

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Financial Aid Refunds
and the StoutOne Card
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The Process

• Financial aid credits the students account via
  electronic transmittal or paper check
• The students charges are paid first. When the
  students bill equals a 0 balance any excess
  funds generate a..REFUND
• Refunds are processed by the preference selected
  by the student
• HigherOne will send an email notification to the
  student when the refund is processed

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REFUND OPTIONS

• Stout OneCard
• (Recommended method of disbursement.)
• Fastest method of receipt.
• MasterCard debit card, can be utilized for
  payment wherever MasterCard is accepted.
• No fee ATMs on campus allow student to withdraw
  up to 500.00 per day.

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3rd Party ACH

• The Student must complete an Automated Clearing
  House form,designating their desired financial
  institution, and return it to HigherOne.
• To expedite the process and save on postage, the
  student can drop the completed documents at a
  HigherOne drop box.
• There are two HigherOne drop boxes
• Stout OneCard Office (Commons)
• Admin Building- East entranceway

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Paper Check

• Students choose this method when they prefer to
  receive their refund in paper form.
• Checks are mailed to the primary address the
  student entered during card activation.
• Students must make address changes prior to
  disbursement at
• www.UWStoutOne.com.

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• Online Services for Students
• Check Your Paperwork Status
• Financial Aid Award Letter

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Financial Aid Counselors

• Beth Boisen A-D
• boisenb_at_uwstout.edu
• Cindy Knopps E-K
• knoppsc_at_uwstout.edu
• Barbara Cloutier L-R
• cloutierb_at_uwstout.edu
• Anita Wiese S-Z
• wiesea_at_uwstout.edu

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Where to Find Us!

• Location 210 Bowman Hall
• Hours 800 - 430 (M-F)
• Phone [phone]
• Fax [phone]
• Web www.uwstout.edu/finaid
• E-mail finaid1_at_uwstout.edu

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Thank You

• Questions??????