What is goal of financial aid?

How do I apply? How is financial need

determined? What aid is available? What is the role of the

financial aid office?

To assist students in paying for college.

To provide opportunity and access to higher education.

To help “bridge” the gap between what the family can pay and the cost of education.

3

Personal Identification Number If you have one from Undergraduate

School, you use that one Electronic signature for FAFSA on the

Web PIN delivered immediately Can also be used for:

Renewal on the Web Corrections on the Web National Student Loan Database Signing promissory notes for student

loans (Perkins, Stafford, PLUS)

4

Apply Renewal Access PIN Web

site Check status of

application View SAR

information Make corrections Download

Worksheetwww.fafsa.ed.govwww.fafsa.ed.gov

Complete and send FAFSA on the internet directly to federal processor

Automatically edits data as you enter it and detects errors before submission

Skip logic: asks only what you must answer English or Spanish versions Electronic Signature E-mail notification of results Detailed online help screens Real-time online chat for immediate answers Instant access to EFC estimate Parents with more than one child in college

only need to enter parental information once.

6

Missing Signatures/PIN Wrong Social Security Number Divorced/remarried information Untaxed income U.S. income taxes paid Household size Number in postsecondary education Real estate and investment net worth Not using real name NOT APPLYING AT ALL

The EFC is an index of need that will be used to determine the type of federal student aid for which you qualify.

Expected Family Contribution (EFC)Expected Family Contribution (EFC)

• Income• Assets• Family size• Number in College• Age of the student

Adjustments to EFC may be made due to Verification and/or Special Circumstances that limit ability to

pay

• Results are sent electronically to UW-Milwaukee.

• Students will receive the results of their FAFSA by e-mail (or regular mail) - Student Aid Report (SAR).

• Students may be required to verify the information submitted on the FAFSA (submit tax forms).

• Contact UWM with any Special Circumstances.

• After the student is admitted to a college, a financial aid package will be prepared.

• Must enroll for a minimum of 4 credits each semester.

Tuition and Fees

Room and

Board

Books and

Supplies

Transportation

Personal

Expenses

Loan Fees

Dependent Care

Study AbroadDisability Related

ExpensesComputer

Annual Loan Limits for Students Graduate students are eligible for a combined total of

$20,500 in subsidized and unsubsidized loans. Graduate students may borrow up to $138,500.

Subsidized and/or Unsubsidized Subsidized: must demonstrate “need”; interest paid by

Federal government while student in college Unsubsidized: need is not a consideration; interest paid by

student while in college (interest payment can be deferred)

Scholarships Fellowships Assistantships

All three may affect your Financial Aid Award and must be reported to the Financial Aid Office

Grad PLUS Loan

Must Apply for sepeartely

Based on CreditInterest 7.9%Similar to

Unsubsidized loanCan Consolidate with

other Stafford loans

Required of all first time borrowers of Stafford Loan Program

Both completed online at www4.uwm.edu/financialaid

Click on “On-line Loan Applications”

Click on “Stafford Loan Borrowers”

Divorce/Separation Loss of income or benefits One-time income Death or Disability of student Medical/Dental expenses not covered by

insurance Elementary or secondary school tuition

(Note: Professional Judgment is at the sole discretion of each institution.)