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Financing the Transition

Financing the Transition. Natascha Ambrose Khara O’Connell Eleni Beaty. Agenda. What to know before you go How the EOC can help Student Financial Services at CSU. What to know before you go. Natascha Ambrose Assistant Director of Financial Aid-Service Front Range Community College.

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Financing the Transition

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  1. Financing the Transition Natascha Ambrose Khara O’Connell Eleni Beaty

  2. Agenda • What to know before you go • How the EOC can help • Student Financial Services at CSU

  3. What to know before you go Natascha Ambrose Assistant Director of Financial Aid-Service Front Range Community College

  4. Transfer Checklist • Check on Deadlines/timelines at your new school • Admissions, Financial Aid and Scholarship deadlines vary from school to school • Request an official transcript to be sent to the new school • Amount of credits determines annual loan limits

  5. Transfer Checklist • Add new school code to FAFSA • www.fafsa.gov • CSU-001350 • Make correction to existing FAFSA • Decline your financial aid at your previous school • Students are not able to borrow aid from two schools for the same time period

  6. Transfer Checklist • Ask new school if they need confirmation of declined aid • Processing times can interfere with getting your financial aid on time • Turn in all requested documents as soon as possible

  7. Transfer Checklist • Loan Deferment • www.nslds.ed.gov • You must be enrolled at least half-time in order to qualify for an in-school deferment

  8. How the Educational Opportunity Center can help Khara O’Connell EOC Director

  9. Step 1: Career Planning • Assessments • Myers-Briggs Type Indicator • Strong Interest Inventory • Overview of career options • Job Outlook • Potential Salaries • Education Requirements

  10. Step 2: Financial Awareness • Estimating Transfer College Expenses • Tuition • Fees • Books • Supplies • Living Expenses • Equipment • Transportation • Child Care

  11. Step 2: Financial Awareness, cont’d • Analyzing funding sources • Income • Savings • Scholarships • Grants • Family assistance • Loans

  12. Step 3: Making a Plan • Putting together all the pieces • What’s the bottom line? • Exploring options

  13. Other Services • FAFSA assistance • Admission application assistance • Scholarship searching • Workshops

  14. Contact Us! • Auraria campus, Admin Ste 325 • Denver, Adams, Arapahoe, Broomfield, Boulder, Jefferson County locations • www.ccd.edu/eoc • 303-629-9226

  15. CSU Student Financial Services Eleni Beaty Outreach and Phone Coordinator-Client Services Colorado State University

  16. CSU Student Financial Services • Financial Aid • Resources • Requirements • Eligibility • Billing Information • Important Dates

  17. College Opportunity Fund(COF) • Undergraduate Colorado residents • Stipend will pay directly to CSU • COF does not show as an award on the financial aid award notice • COF is factored into the cost of attendance • Lifetime authorization via RAMweb during course registration • Email sent to @rams account if have outstanding requirements

  18. The Financial Aid Process @ CSU • Email sent to student’s @rams email account once FAFSA received • We may require additional documentation OR we may offer financial aid award • Student notified of status and next steps via email directing them to RAMweb

  19. Financial aid requirements:ramweb.colostate.edu • Student may accept, reduce or decline Direct Loans • First time Direct Loan borrowers are then prompted to complete loan requirements • PLUS Parent Loan • To apply: parent completes online application for Parent PLUS Loan located on our website: http://sfs.colostate.edu/eplus • Parent completes master promissory note at: www.studentloans.gov

  20. Commitment to Colorado • Colorado resident undergraduate • Enrolled full-time • 12 on-campus credits (not OnlinePlus) • Deadlines • Submit FAFSA by August 1 for fall/spring • January 1 for spring • Documents submitted by 1st day of class • Have attempted no more than 130 credits

  21. Commitment to Colorado • Pell Grant eligible • Covers student share of base tuition & standard fees • Combination of • Pell Grant • Colorado Student Grant • Commitment to Colorado • Family AGI of $57,000 or less & EFC 15,000 or less (and not Pell Grant eligible) • Covers ½ of student share of base tuition • SFS website is the BEST resource

  22. About Direct Student Loans • The Department of Education is the lender • Class level determines amount (changes at 30 and 60 credits) • Initial financial aid award is made point-in-time. Student should contact our office if class level changes due to transfer credit or after the fall semester. • Student should contact SFS if transferring in the spring and did not use loan eligibility elsewhere in the fall semester.

  23. Academics & Financial Aid • Academic decisions students make impact their financial aid eligibility • For the current semester • For future semesters • Funding to reach graduation

  24. Academic Decision Examples • Enrollment each semester • On campus and/or OnlinePlus credits • Census (add/drop) deadline • New “add without override” deadline • Repeated coursework • Starting classes • W-drops • Complete University withdrawal

  25. Enrollment Each Semester • Enrollment requirements • Full-time • 12 credits undergraduate • Financial aid is pro-rated if less than full-time • Must be half-time to receive financial aid • 6 credits undergraduate • Commitment to Colorado • Requires full-time on-campus enrollment (12 credits). OnlinePlus credits do not count toward 12 credit requirement.

  26. Financial Aid Eligibility • Pell Grant: • Students may receive a Pell Grant for a maximum of 6 years • Students who are not eligible for a Pell Grant are also not eligible for Commitment to Colorado. • Direct Loans: • Maximum loan aggregates • New legislation to be implemented soon-students can only receive a loan for 6 years

  27. Financial Aid Eligibility • Satisfactory Academic Progress • Several types of violations • Most common: 75% or GPA • http://sfs.colostate.edu/financial-aid-eligibility

  28. Billing @ CSUeBilling: electronic billing • Students receive email at @rams account when bill is available on RAMweb • Students can authorize online access to eBilling (through the FAMweb portal) on RAMweb • Parents and other interested parties will then receive an e-mail to establish login information • E-mail notification sent that a new University Billing Statement is available for viewing

  29. Payment Due Dates Spring: • E-mail notification sent and bill available online in mid-January • Bill due February 10th Summer: • E-mail notification sent and bill available online in mid-May • Bill due June 10th Fall: • E-mail notification sent and bill available online in mid-August • Bill due September 10th

  30. SFS Student Calendar

  31. Student Financial Services • Centennial Hall • (970) 491-6321 sfs.colostate.edu

  32. Questions?

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