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Conversations with Financial Aid Counselors Norfolk State University Financial Aid Office

Conversations with Financial Aid Counselors Norfolk State University Financial Aid Office. The Financial Aid Process. Step One: Application Process Student completes the Free Application for Federal Student Aid (FAFSA) http://www.fafsa.ed.gov Priority deadline is March 15

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Conversations with Financial Aid Counselors Norfolk State University Financial Aid Office

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  1. Conversations with Financial Aid CounselorsNorfolk State University Financial Aid Office

  2. The Financial Aid Process Step One: Application Process Student completes the Free Application for Federal Student Aid (FAFSA) http://www.fafsa.ed.gov Priority deadline is March 15 School receives an electronic copy of the student’s FAFSA information (the ISIR)

  3. The Financial Aid Process Step Two: Verification Students are selected for verification by: U.S. Department of Education NSU NSU must verify that the information provided on the FAFSA is correct Students may be required to submit: Federal Tax Returns Verification Worksheet Documents are scanned Corrections are made to the student’s FAFSA

  4. The Financial Aid Process Step Three: Awarding Aid is awarded based on the student’s financial need (Cost of Attendance minus Family Contribution) Our office awards all federal and state aid based on eligibility Students are mailed award letters Scholarships may require separate application Students must inform our office of any scholarships they are receiving that are not indicated on the award letter

  5. The Financial Aid Process Step Four: Award Acceptance/Disbursement Students do NOT need to sign and return the award letter unless they are making changes First time student at NSU receiving a Ford or Perkins loan must: Complete Loan Entrance Counseling Sign a Master Promissory Note Aid Disbursement begins after the end of the add/drop period Refund process is administered by Student Accounts

  6. Top 10 Mistakes Students Make • Not applying early and/or on time • Parent/Student signature is missing from the FAFSA • The FAFSA is completed before tax returns are filed • Student fails to respond to requests for additional documents • The wrong documents are submitted…W2 vs. 1040/1040A/1040EZ • Student does not apply for scholarships • Student does not check their NSU Email or Spartan Shield account daily and does not review the Financial Aid website • Student thinks that he or she is an independent student and does not provide parental information • Student does not list Norfolk State’s school code (003765) on the FAFSA • Student does not understand the Satisfactory Academic Progress (SAP) Policy

  7. Challenges of the Financial Aid Office • Understanding the differences between Financial Aid and Student Accounts • Lack of correct address and phone number • Reading and understanding the Financial Aid Award Letter • Students do not understand the disbursement and refund process • Getting students to pre-register early • Students make changes to the FAFSA after the initial award process

  8. Challenges of the Financial Aid Office • Students’ not utilizing resources that are available (i.e. Scholarship Guide, FA Web pages) • Students’ not aware of their aggregate loan limits • Students’ failure to participate in Financial Aid events (i.e. Financial Aid Awareness Month) • Students’ misunderstanding of the Summer Financial Aid application process and eligibility requirements

  9. Financial Aid Resources Loan Entrance Counseling Master Promissory Note www.studentloans.gov Sign in with your PIN that you used to complete your FAFSA.

  10. More Financial Aid Resources Podcast MyDocuments http://www.nsu.edu/financialaid/

  11. More Financial Aid Resources MyNSU

  12. What's Coming In Financial Aid? • Online Award Acceptance • Paperless Processing

  13. How Can Faculty/Staff Help? • Remind students to apply early • Inform students to seek financial aid counseling prior to dropping courses and/or withdrawing from the University • Remove “I” grades quickly and report non-attendance in a timely manner. This will impact SAP. • Assist students in locating scholarships. (www.nsu.edu/financialaid/scholarships) • Refer students to the Financial Aid Office when they have concerns regarding the awarding of financial aid. • Refer students to Student Accounts when they have concerns about charges, disbursements, and balances on their account. • Remind students to check their NSU Email account and SpartanShield. • Print student’s registration statement – This details financial information.

  14. Contact Information Financial Aid Counselor Financial Aid Advisor Malik A. Gladden Ext. 8128 • Darius Blount Ext. 8502 Directors • Kevin Burns Director of Financial Aid • Ext. 8879 • Melissa J. Barnes Associate Director • Technical Systems Ext. 8131 • Janice M. Fields Assistant Director • Office Management Ext. 8410

  15. Conversations with Financial Aid Counselors • For copies of this presentation • Visit www.nsu.edu/financialaid

  16. Conversations with Financial Aid Counselors Questions & Answers Thanks for your participation!

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