Preview 20092010

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Freeing the Power of the Individual
Preview 2009-2010 Presenters David Williamson,
Interim Director of Financial Aid Barbara
Madison, University Bursar Business Services
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Your students education is his or her best
investment for the futurebut lets face itthat
diploma is one expensive piece of paper. You
must prepare for it.

• The University of Southern Mississippi
• Office of Financial Aid
• 118 College Drive, 5101
• Hattiesburg, MS 39406-0001
• Ph [phone] Fax [phone]
• Email financial.aid_at_usm.edu
• Web address www.financialaid.usm.edu
• School Code 002441
• Office Hours Monday-Friday, 800am - 500pm
• Kennard-Washington Hall, Room 101

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What is Financial Aid?

• Gift Aid
• Institutional or External Scholarships, Tuition
  Waivers, Fee Waivers
• Grants (Pell Grant, Supplemental Educational
  Opportunity Grant (SEOG), Academic
  Competitiveness Grant (ACG), SMART
  Grant, TEACH Grant)
• Require federal need as determined by the FAFSA
• Self-Help
• Loans (Subsidized Stafford, Unsubsidized
  Stafford, Parent
  PLUS, Alternative or Outside Loans)
• Repay after graduation (with exception of Parent
  PLUS)
• Interest may or may not accrue while in school
• Work
• Federal Work-Study Program

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Preparing to Apply for Financial Aid

• Secure Personal Identification Number (PIN) for
  student and at least one parent.
• www.pin.ed.gov
• Gather federal income taxes and other financial
  documents to
• help you complete the Free Application for
  Federal Student
• Aid.
• www.fafsa.ed.gov

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Completing the FAFSA

• Apply early. The Priority Deadline for Southern
  Miss is March 15th each year.
• Use student and parent 2008 Federal tax returns
  to complete income information.
• Review the Student Aid Report when returned by
  the Federal Processor.
• The EFC (Expected Family Contribution) represents
  family resources.
• If selected for verification, submit tax returns,
  W-2s, and other requested information to the
  Office of Financial Aid promptly.

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State of Mississippi Student Financial
AidDeadline September 15 of each year

• MTAG--Mississippi Resident Enrolls full-time at
  a Mississippi college or university 2.5 high
  school GPA 15 ACT score Open to freshman,
  sophomore, junior, or senior who meets
  requirements for award.
• MESG--Mississippi Resident Enrolls full-time at
  a Mississippi college or university 3.5
  high-school GPA 29 ACT score Must be a
  first-time freshman applying during senior year
  of high school and attending following graduation
  from high school.
• Special Note Anticipated State Aid is awarded
  to students by the Office of Financial Aid if
  university records indicate that the student
  meets the minimum criteria for the award.
  Students must follow through by completing the
  Mississippi Student Financial Aid Scholarship
  Application online and submitting it to the
  Mississippi Student Financial Aid Office.
• http//www.mississippi.edu/riseupms
• 1-800-327-2980

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How much financial aid can I get? Will it cover
everything?

• Cost of Attendance
• (determined by the school)
• __
• Expected Family Contribution
• (determined from the FAFSA)
• Financial Need
• (our goal)

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Estimated Cost of Attendance 2009-2010On Campus,
Full-time Enrollment

• Expense Amount
• Tuition 5,096.00
• Estimated Fees 402.00
• Room Board 6,200.00
  
• Books Supplies 1,400.00
• Personal Travel 4,314.00
• Total for Mississippi Resident 17,412.00
• (Non-Resident Fees
  7,650.00)
• Total for Non-Resident 25,062.00
• Fees are subject to change without prior
  notification.

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AWARD Notification

• Once a student is admitted to the University and
  his/her
• financial aid file is complete, financial aid
  eligibility is
• determined.
• Initial award letters are typically sent via
  regular postal
• service to students. Students may accept their
  financial aid
• awards online through their SOAR accounts, or by
  returning
• their paper award letters to the Office of
  Financial Aid at
• their respective campus. Students will be
  notified of
• Revisions to their awards via their Southern
  Miss
• E-mail Accounts.
• Students access their accounts using their SOAR
  User
• ID and Password. For additional assistance with
  obtaining
• a User ID and Password, students may contact the
  iTech
• Help Desk at [phone].
• FERPA regulations prohibit financial aid officers
  from discussing student financial aid information
  with parents or other third party individuals
  over the telephone, via email, or in person, if
  the student is not present. Under no
  circumstances will financial aid officers discuss
  student grades if the student is not present.

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Important Reminders

• Complete and submit the Free Application for
  Federal Student Aid online at www.fafsa.ed.gov.
• When notification of the award is received,
  accept and/or decline the award and return the
  signed acceptance form to the Office of Financial
  Aid. Students may also accept or decline aid
  through their SOAR accounts.
• Students should check their SOAR and Southern MS
  email accounts regularly.
• Student must maintain certain academic standards
  to continue receiving federal student aid.
• Reapply each year.

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The University of Southern MississippiBusiness
Services
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Business Services
Business Services The University of Southern
Mississippi 118 College Drive, 5133 Hattiesburg,
MS 39406-0001 Phone [phone] Fax (601)
266-5876 Forrest County Hall Room 101 Lobby
Hours 800am 400pm Email Business.Services_at_u
sm.edu Web Address www.usm.edu/bizserv
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Pre-Registration and Minimum Payment
Following pre-registration, a Class Schedule Fee
Invoice will be mailed to each student. Minimum
Payment includes 50 current tuition, room,
board, and fees 100 prior term balance
Students must pay the minimum payment in order to
charge using his/her Student ID.
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Minimum Payment Requirements and Application of
Financial Aid to Fees

• Awarded financial aid may be used to satisfy the
  minimum payment with the following exceptions
• 1. Financial aid from the current semester
  cannot be applied to prior balances in accordance
  with federal regulations.
• 2. Work-study cannot be used to satisfy minimum
  payment requirements.
• 3. Parent Plus Loans cannot be used to satisfy
  minimum payment requirements, unless the parent
  can provide a copy of the loan guarantee to the
  Business Services Office.

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Maintaining Current Address Information

• The university relies on the student for accurate
  address information.
• The student can do this easily in their SOAR
  account.
• Email addresses must also be kept current to make
  sure that important notices are received.

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Typical Charges on Student Accounts

• Tuition
• Course Fees
• Textbooks
• Meal Plans
• Housing
• Bookstore
• Parking/Towing Fines
• 
  Library
• 
  Printing Services
• Clinic Charges
• Wireless Access Charges

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Billing and Finance Charges

• Bills are mailed monthly and are due on the 1st
  Monday of the following month (with the exception
  of holidays). Billing schedules are listed on
  the Business Services website.
• Southern Miss applies a monthly periodic rate of
  1.5 per month to all unpaid balances. The
  finance charge on a students account is
  calculated by applying the periodic rate to the
• balance billed, after deducting any payments or
  credits.
• In addition, a 100 Late Payment Fee will be
  assessed to accounts at the end of each semester
  when a balance is still owed to Southern Miss.

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MPACT/Prepaid Tuition Plans

• Students participating in a Prepaid Tuition Plan
  (MPACT, ALPACT, etc.) should contact Ginger Poole
  at Ginger.Poole_at_usm.edu or, by phone at (601)
  266-4143 to ensure that Business Services has the
  correct plan information for your student. This
  will ensure that your plan is used to help
  confirm your students classes for the
  appropriate enrollment period.

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Refunds
The first refunds for the Fall 2009 semester will
be generated approximately the third week of
classes. Refunds may be generated from excess
financial aid or various campus credits.
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Choosing a Refund Option

• Students will receive a Go Gold Debit card in the
  mail.
• Log on to www.gogoldcard.com, enter your card
  and choose a refund preference
• Activate the Go Gold Debit Card and OneAccount
• Direct Deposit to an existing bank account
• Paper check

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Fall 2009Important Dates to Remember

• July 13, 2009 -Fee Invoices are mailed to
  students.
• August 3, 2009 -Fee Invoices are due back to
  Business Services.
• August 19, 2009 -Classes begin.
• September 1, 2009 -Last day to receive financial
  credit for dropping classes or for withdrawing
  from the University.
• September 30, 2009 -Last day to drop regular
  session classes without academic penalty.

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Thank You

• Thank you for attending our session.
• We look forward to serving your students during
  the upcoming 2009-2010 award year.