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Financial Aid (English)

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by

Michelle Quiroz

on 16 April 2014

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Transcript of Financial Aid (English)

Saint Xavier University
Contact Us
Understanding Your Financial Aid
Goal of Financial Aid
Financial aid application process
Requirements to continue receiving aid
Disbursement of aid
Today's Topics
Understanding awards and eligibility
Goal of Financial Aid
The main goal is to help families
navigate
the complex
aid environment
.

Financial Aid consists of
scholarships
,
grants
,
loans
, and
employment opportunities
which are available to help students pay for the cost of attending the post secondary institution of their choice.

Over 92%
of our undergraduate population receives some form of financial assistance.
SXU school code: 001768
Linking FAFSA using IRS data retrieval tool
Financial Aid Process
Opt for ‘Link to IRS’ for accuracy and fast processing
Change to parents' marital status
Income loss/reduction
Death of parent(s)
Significant medical expenses
Private elementary/secondary tuition
Financial Aid Award Letter
keyword: financial aid forms
Grants
&
Scholarships
University-funded
Must demonstrate financial need
University-funded
Based on prior academic credentials
Awarded at time of admission
Federal Program
Must demonstrate financial need
Award amount varies with enrolled hours
Federal program
Must demonstrate financial need
State of Illinois program
IL resident (student & parent)
File FAFSA on time
Must demonstrate financial need
Award amount varies with enrolled hours
Financial Aid Resources
for classes
Entrance Counseling
Disbursement
Verification
disburse at the start
Perkins Loan Requirements
Priority deadline March 1st!
keyword: perkins
Missing Documents
Student
Perkins Loan
Unsubsidized Stafford Loan
Federal program
Must demonstrate financial need
Fixed interest rate of 6.8%
Government pays interest while enrolled
Repayment begins 6 months after graduation
Federal program
Fixed interest rate of 6.8%
Interest begins accruing at disbursement
Repayment begins 6 months after graduation
Federal program
Must demonstrate financial need
Repayment begins 9 months after graduation
No interest accrues while in-school
Fixed interest rate of 5%
Stafford Loan Requirements
Satisfactory Academic Progress
GPA
Master Promissory Note
&
Entrance Counseling
must be completed before loan proceeds will disburse.
Completion Rate
Time to Completion
Yes
No
Continue Aid Eligibility
1. Warning
2. Suspend
File appeal to regain eligibility
SAP Requirements:
maintain a minimum 2.0 cumulative GPA
complete 66.7% of attempted credit hours
complete degree within 150% of the specified credit hours for your program
Financial Aid Award Letter
Funding Options
Parent Plus Loan
Private Loan
Federal program
Parent is borrower
Credit-based application
Fixed interest rate at 7.9%
Repayment begins after disbursement
Option to defer until student graduates
Student can borrow additional unsubsidized if parent not credit-qualified
www.studentloans.gov
Visit
www.pin.ed.gov
to apply for or request PIN
Student is borrower
Credit-based application
Private bank, lender or credit union
Co-signer encouraged, often required
Rate, fee and repayment terms vary
www.sxu.edu
keyword: private loan
Forgot your PIN?

Log on to www.pin.ed.gov
Work Study
Must demon
strate financial need
Earn bi-weekly paycheck with on-campus job
Check job postings at www.cougarjobs.com
Meet our counseling staff
Sarah
A - F
shuweikah@sxu.edu
G - K
Eileen
donnelly@sxu.edu
L - Q
Laura
l.carrillo@sxu.edu
R - Z
Sharon
webber@sxu.edu
keyword: financial aid forms
PIN number is required
Documents & instructions can be found online
Portal

Must complete
MPN & Entrance Counseling
before loan proceeds will disburse.
Can have earnings applied directly towards tuition balance
Questions?
Common Reasons for Appeal?
www.sxu.edu
www.fafsa.gov
Pell Grant
SEOG
MAP Grant
SXU Scholarship
SXU Grant
Subsidized Stafford Loan
Loans
Federal
Additional
Parent must apply with their FAFSA PIN number
Don't remember your PIN?
https://my.sxu.edu
www.sxu.edu
www.studentloans.gov
www.sxu.edu
Must be
registered
must be complete
MPN
&
must be complete
Funds will
of each semester
Must meet SAP standards to maintain aid eligibility
Reviewed each semester
3700 West 103rd Street
Chicago, IL 60655
(773) 298-3070 phone
(773) 298-3917 fax
finaid@sxu.edu
8:30am - 5:30pm: Monday - Thursday
8:30am - 4:30pm: Friday
Warde Academic Center, A216
Shuweikah
Donnelly
Carrillo
Webber
Office of Financial Aid
Eligibility and Finalizing Aid
Full transcript