20082009 Financing your Western Education

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2008-2009Financing yourWestern Education

• Missouri Western State University
• The Western Advantage

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What is Financial Aid?
Financial Aid is money supplied by a source other
than your family to assist with the cost of
education.

• Grants (Federal/State)
• Scholarships (Western/Private)
• Loans (Low Interest)
• Employment (FWS/Institutional)

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How Do I Apply for Aid?
www.fafsa.ed.gov

• Should be submitted as soon as possible after
  January 1st each year.
• March 1st Priority deadline to be considered for
  FWS, Perkins Loans, SEOG, and Western
  Scholarships.
• April 1st deadline to be considered for the
  Access Missouri Program.
• MUST be complete before Western Scholarships will
  disburse to your account.

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Verification
If you are selected for Verification, you MUST
submit all requested documentation prior to
receiving financial assistance.
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Continue to Check your Status
www.missouriwestern.edu/Admissions/
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Review Awards and Requirements
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2008-2009Federal Student and Parent Loans

• Missouri Western State University
• The Western Advantage

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Federal Stafford Loan
Available under Federal Family Education Loan
Program (FFEL)

• The student is the borrower.
• School determines loan eligibility.
• Fixed interest rate 6.0 Subsidized / 6.8
  Unsubsidized.
• Repayment begins six months after you drop below
  six hours, withdraw, or graduate.
• Deferment and cancellation provisions may apply.

NOTE There is a 30 day delay after classes
begin before loan funds will be released to
first-time freshman borrowers.
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Subsidized vs. Un-Subsidized

• Subsidized Loans based on financial need
  government pays interest while you are in school.

• Un-Subsidized Loans not based on financial need
  student pays interest while in school.

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Requirements for 1st Time Borrowers
www.missouriwestern.edu/finaid
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Annual Loan Limits
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Federal PLUS Loans
Borrowers are credit worthly parents of dependent
undergraduate students.

• Fixed interest rate of 8.50.
• Annual loan limit equals the cost of attendance
  minus other aid.
• Repayment begins sixty days after the loan is
  fully disbursed.

Complete the PLUS Pre-Approval application online
at www.mohela.com/missouriwestern
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2008-2009Other Important Information

• Missouri Western State University
• The Western Advantage

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Dont be a SAP!
In order to be eligible to receive federal and
state aid, regulations require a student to be
making Satisfactory Academic Progress.
Both your grade point average, and the time that
it takes you to earn your degree are factors in
determining SAP.
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Monitoring Attendance
In order to ensure the achievement of your
academic goals Western has a mandatory attendance
policy for Freshman and Sophomore level courses.

• Administrative Withdrawal
• Financial Consequences
• Loss of future Financial Aid Eligibility

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Return of Title IV Funds
Before you withdraw or Stop attending classes Be
aware that

• Federal regulations require Western to calculate
  the amount of Title IV aid that you did not earn.
• Unearned Title IV funds must be returned to the
  appropriate Title IV programs.

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Want a Successful College Experience?
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2008-2009Business Office Information

• Missouri Western State University
• The Western Advantage

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Instate Tuition and Fees
2008 -09

• One Parking Pass is included. Additional Parking
  Passes are 10 each.

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Payment Options
Payment in Full By

• Cash, check, or credit card (Visa, MasterCard,
  Discover) in the Western Business Office.
• Financial Aid (Scholarships, Grants, Student and
  Parent Loans).
• Credit card (Visa, MasterCard, Discover) online
  at www.missouriwestern.edu/businessoffice/ or by
  telephone at [phone].

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Deferred Payment Plan
The Tuition Payment Plan allows you to take the
balance of your account after all applicable
financial aid has been applied and make payments
during the semester.
Enrollment forms are available online at
www.missouriwestern.edu/businessoffice/ or in the
Western Business Office Eder Hall, Rm 104.
There is a 50 enrollment fee PER SEMESTER for
the Deferred Tuition Payment Plan.
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Statement of Account
Statements will be mailed on the 5th of each
month with payments due on the 20th.

• A 20 fee will apply if your payment is late.
• Should the account go in default, a 10 annual
  interest rate will apply.

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Late Payment Plan Enrollment
If your account is not paid in full or payment
arrangements have not been made by the due date

• You will be automatically enrolled in the
  Deferred Payment Plan (50 Enrollment Fee), and
• an additional 50 late enrollment fee will apply.

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Credit Balance

• If you have more aid than the cost of attendance

• A book voucher will be issued two weeks prior to
  the first day of classes.
• A check will be issued to the student on
  September 10th. (Must have your Western Student
  ID.)

All credit balance checks will be issued to the
student with the exception of PLUS Loans which
will be payable to the parent or student and
mailed to the parents address.
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Refund Schedule
Students who completely withdraw from school and
submit a correctly executed withdrawal form will
receive a refund based on the Withdrawal Refund
Schedule below.

• 80 refund during the 1st week of classes.
• 50 refund during the 2nd 3rd weeks of classes.
• No refunds will be given after the 3rd week of
  classes.

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Late Registration Fee
Students making schedule changes will be charged
as follows

• No additional charge prior to the first day of
  class.
• 50 charge during the add/drop period (first
  week of classes).

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Privacy Act
Please be aware that the PRIVACY ACT limits what
Business and Financial Aid Office representatives
are allowed to discuss with parents of Western
students.
Students may sign a release form allowing
information to be released to a third party,
however, they must initiate the process.
Forms are available online www.missouriwestern.edu
/finaid
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For More Information
www.missouriwestern.edu/businessoffice/
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2008-2009Questions

• Missouri Western State University
• The Western Advantage