1998 99 Financial Aid Night

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Paying Your Bill
Fall/Winter 2009-2010
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Resources for Parents

• Financial Aid Office
• Student Accounts Office
• Student Employment Office
• GVSU website www.gvsu.edu

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Getting Your Bill

• In late July, new students will receive a paper
  bill for fall only
• Students will also receive an e-mail advising
  them that their E-bill is ready to view
• Students may log on to MyBanner to authorize two
  parent e-mail addresses to receive e-bill notices
• Parents will still need to have the students G
  and PIN to see the e-bill
• We cannot provide parents with a students G or
  PIN!

4
2008-2009 Freshman Tuition

• Michigan residents
• 4,098 per semester (8196 per year)
• Non-residents
• 6,255 per semester (12,510 per year)
• Block rate of tuition for 12-16 credits/semester
• On-campus housing charge will depend on style of
  housing

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www.gvsu.edu
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Viewing Your Student Account and ebill
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Viewing YourStudent Account and ebill
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Student Accounts Menu
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Student Accounts Menu
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Viewing the Ebill
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Viewing the Ebill
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Using Your Financial Aid

• Financial Aid is
• Scholarships
• Grants
• Loans
• Employment
• anything that helps you pay your bill!

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Michigan Promise Award

• Eligibility Requirements
• Take the MME tests during 11th grade or meet an
  alternate eligibility as set by the state.
• Certify at www.michigan.gov/promise by November
  15, 2009
• 4000 total award
• 1000 each for first two years
• 2000 (or balance) for third year with 60 credits
  and a minimum 2.5 cumulative GPA
• The Promise Award is shown as estimated until
  verified by the state

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State Competitive Scholarship

• Based on need and ACT score of 23
• GVSU must be listed first on FAFSA
• Award is estimated until GVSU is listed first
• Up to 1300 at GVSU
• Renewable for up to 10 semesters.
• Must maintain a 2.0 cumulative GPA and continue
  to show financial need
• Must file FAFSA by March 1 each year

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Federal Direct Loans

• Total 5500 (3500 subsidized maximum) for
  freshmen
• Master Promissory Note (MPN) REQUIRED
• Entrance Counseling REQUIRED
• Subsidized need-based, interest-free during
  school
• 5.6 fixed interest rate beginning 7/1/09
• Unsubsidized non-need-based, interest accrues
• 6.8 fixed interest rate

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www.gvsu.edu/financialaid
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Additional Funding Options

• Parent PLUS Loan
• FAFSA not required
• Fixed 7.9 interest rate
• Approval based on credit
• Processing begins in June
• Alternative educational loans
• FAFSA not required
• Private, non-government loans
• Processing begins in June
• More information at www.gvsu.edu/financialaid

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This is a sample award letter not your
actual award!
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Finding Student Employment

• Any student can find on or off campus work
• Many and varied jobs available
• Students should register on-line as soon as
  possible at www.gvsu.edu/studentjobs
• Click on Money Tree
• On-campus job postings for fall appear in June
  and are constantly added throughout the summer

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www.gvsu.edu/studentjobs
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Federal Work Study

• Need-based federal program based on FAFSA
• Same wages and same kinds of jobs as regular
  employment
• Government pays 70 of students wages
• Wages are never garnished student receives
  paycheck
• Direct deposit encouraged
• Work-study earnings must be earned they do not
  apply automatically to the tuition bill

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Keeping Your Financial Aid

• Full satisfactory academic progress policy is
  listed at www.gvsu.edu/financialaid
• Students must complete at least 2/3 of attempted
  credits each semester
• Freshman (0-24 credits) must have 1.5 cumulative
  GPA
• Degree must be completed within 150 of the
  credits required to graduate
• Be aware of other requirements for merit
  scholarship renewal
• Always check with Financial Aid before dropping a
  class or completely withdrawing!

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Paying Your Bill

• Payment Options
• Pay the balance owed by August 21st
• Enroll in the deferment plan four equal
  payments each semester
• There is a 40 fee each semester that you are on
  the deferment plan
• First payment is due August 21st
• Non-payment will result in
  your students classes being
  dropped!

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Methods of Payment

• Cash in person
• Check in person, by mail
• Electronic check online
• Debit or Credit Card over the phone, online
• There is a 15 surcharge for all credit and debit
  card payments

25
Excess Financial Aid

• For students with excess aid after their GVSU
  bill is paid in full
• Bookstore charge accounts, up to the amount of
  the excess, are available beginning Aug. 8
• Refunds are sent beginning during second week of
  classes
• Can be used for living expenses, supplies,
  transportation, etc.
• Student are encouraged to sign up for direct
  deposit
• It is expected that students will make
  arrangements to cover any other expenses (i.e.
  rent) before their refund check is available

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Area Banks

• GVSU does not have a full-service bank on campus
• Area banks with ATMs on campus are
• Fifth Third www.53.com
• Lake Michigan Credit Union www.lmcu.org
• National City Bank www.nationalcity.com
• Most banks have online banking check with your
  local bank
• Now is a good time for your student to open a
  checking account!

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Student Accounts Office

• Billing payments, deferment plan
• Michigan Education Trust (MET)
• Michigan Education Savings Plans (529 plans)
• [phone]
• or
• Toll free [phone]
• www.gvsu.edu/studentaccounts

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Important Dates

• Late July Fall bills are sent
• August 21 Fall payment due
• August 31 Classes begin
• 2nd week of class Financial aid refunds
  available
• Mid-November Winter bill notices are emailed
• December 18 Winter payment due
• January 11 Classes begin
• 2nd week of class Financial aid refunds
  available
• March 1, 2010 FAFSA priority deadline
• June 1 Financial aid awards sent to
  returning students

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Things to Remember

• We use email to communicate. Please ensure that
  you have up-to-date email addresses on file with
  GVSU!
• You must file a FAFSA every year if you want to
  continue to be considered for financial aid.
• Communicate with us any unusual circumstances
  related to your finances.
• Renewal criteria for each scholarship, grant, and
  other financial aid may differ.
• Were here to help! Just ask.

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Contact Us!

• 100 Student Services Building
• [phone] or [phone]
• [phone] (fax)
• www.gvsu.edu/financialaid
• finaid_at_gvsu.edu
• Academic year M-Th 8-6, Friday 8-5
  
• Summer M-F 8-5
• Walk-in hours and appointments available
• see website

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Thank you! Welcome to the GVSU family!