Financial Aid Overview

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Financial Aid Overview

• Darius Blount
• Tricia Mouser
• Financial Aid Counselors

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NSU Financial Aid Office

• Primary purpose is to provide assistance to
  qualified students who, without such aid, would
  be unable to attend the University
• Located on the first floor of Wilson Hall
• Open M-F 8am to 5pm with extended hours on
  Thursdays

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What is Financial Aid?

• Gift Aid
• Scholarships
• Grants
• Self-Help Aid
• Work-Study
• Loans

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How to Apply

• Apply for a Personal Identification Number (PIN)
  at www.pin.ed.gov
• Complete the Free Application for Federal Student
  Aid (FAFSA) at www.fafsa.ed.gov
• Submit any additional documentation requested to
  the Financial Aid Office

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What Documents Will I Need?

• Students and Parents social security number
• Students drivers license number
• Parent and Student 2006 tax returns
• Parent and Student 2006 W-2 forms
• Parents and Students most recent bank
  statement(s)
• Records of untaxed income
• Information on savings, investments, and business
  and farm assets

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Independent Student Definition

• At least 24 years old by December 31 of award
  year covered by the FAFSA
• Graduate or professional student
• Married
• Has children or dependents (other than a spouse)
  for whom the student provides more than half
  support

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Independent Student Definition

• Orphan or ward/dependent of the court
• Veteran of U.S. Armed Forces or currently serving
  on active duty (for other than training purposes)
  in the Armed Forces or
• Determined to be independent by financial aid
  administrator based on unusual circumstances

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Priority Deadlines

• FAFSA March 15

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What Happens After the FAFSA?

• The student will receive a Student Aid Report
  (SAR) showing the Expected Family Contribution
  (EFC)
• Any institutions listed on the FAFSA will receive
  an electronic copy of the SAR

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Definition of Need

• Cost of Attendance
• - Expected family contribution
• Need

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Cost of Attendance

• Tuition and Fees
• Room and Board
• Books and Supplies
• Travel
• Loan Fees
• Personal Expenses
• Other Educational Expenses

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Expected Family Contribution

• An analysis of a familys ability to contribute
  to a college education based upon their income
  and assets as determined by the FAFSA
• Used by colleges to calculate the type and amount
  of financial aid for which you qualify

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Scholarship Search

• The Financial Aid Office awards federal and state
  assistance
• Outside organizations, foundations, companies and
  other NSU departments offer scholarships
• Visit the Financial Aid Office website for a list
  www.nsu.edu/financialaid/scholarships.html

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Loans

• Ford Direct loan amounts are awarded based on
  students classification
• Freshmen 3500
• Sophomores 4500
• Juniors 5500
• Seniors 5500

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Loans

• Subsidized Loans
• Interest does not accrue while student is in
  school and enrolled at least half time
• Awarded based on need
• Unsubsidized Loans
• Interest accrues while student is in school
• Students have the option of paying the interest
  while in school
• May replace the EFC

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Loans

• First time loan borrowers must
• Complete entrance counseling at
  www.dlssonline.com
• Sign a Master Promissory Note, which is valid for
  10 years

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Factors That May Affect Your Award

• Awards are based on full time enrollment
• You must report any additional resources you
  receive to the Financial Aid Office
• Students must make Satisfactory Academic Progress
  (SAP)

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Satisfactory Academic Progress (SAP)

• A federal requirement
• Applies to all students receiving financial aid
• Three measures
• Students must complete 67 of the hours they
  attempt
• GPA requirements according to classification
• Students must not exceed 150 of the credit hours
  required to complete their program of study
• For more information visit the Financial Aid
  website

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Top 10 Tips for Parents and Students

• Apply early
• Dont forget to sign the FAFSA
• If you indicated that you will file taxes on
  the FAFSA, submit a copy of your 2006 tax returns
  to the Financial Aid Office
• Submit all additional documents requested by the
  Financial Aid Office
• A zero EFC does not mean the University can pay
  the entire COA

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Top 10 Tips for Parents and Students

• Search for scholarships
• Review our website www.nsu.edu/financialaid
• Check your email and Spartan Shield account
  frequently
• Keep copies of all documents
• Contact the financial aid office with any
  questions at [phone] or toll free at
  1.800.365.5517