Financial Aid Financial Aid 2009-102009-10

Ten Steps to Finalize

Financial Aid

Office Staff

• Carolyn A. Julian– Student Aid Adviser & Veterans Affairs Coordinator

czb3@psu.edu

• Catharine G. Hook– Administrative Support Staff

• cgh11@psu.edu

• Room 70 Swatara Building

• 717-948-6307

• 800-222-2056 Option #1

2009-10 Estimated Tuition & Fees

• PA Resident Non-PA Resident– Tuition & Fees*

• $12,344 - $12,850 $18,420 - $19,238

– Room & Meals*• $8,300 $8,300

– Books & Supplies**• $1,900 $1,900

• *Direct Costs

• **Indirect Costs

Step One

• 2009-10 Free Application for Federal Student Aid (FAFSA)

– www.fafsa.ed.gov– www.pin.ed.gov• Keep in a secure place

• Multiple uses

• School Code 003329• University Park

• All PSU campuses

Step One Con’t

• Stafford Loans • Work Study• Answer (Both) to question

#31 on FAFSA

Step TwoCampus Based Aid

• Supplemental Educational Opportunity Grant (SEOG)

• Perkins Loan• Work-Study• No separate application required

Step Two con’t

• Student Aid Award Notification sent via email after March 25th.

• This notification will list all the student financial aid programs (loans, grants*, work-study, and/or scholarships) for which you are eligible for the fall & spring semesters.

• *Separate notification for PA State Grant (PHEAA).

Step Three• Complete request from Pennsylvania Higher Education Assistance

Agency (AES/PHEAA).

• NEW: Online process--students will receive an email with website & instruction to complete.

• Name of College: Penn State Harrisburg

• Housing: On/Off Campus or Commuter.

• For PA Residents only

Step Four• Complete verification process if selected by

University:– SS Card (student & parent)– Selective Service– Citizenship– Estimated filers

• Income Validation by PHEAA

• Copies of 2008 Tax return• Special Circumstances – Contact Office

after April 1, 2009 for the new form– Lost wages, untaxed income, death

Direct Lending PSU participates in Direct Lending for Stafford,

Plus & Grad-Plus loans.

Interest Rate:Subsidized - varies 6-3.4% until 2011-12 Unsubsidized – 6.8% Origination fee 0.5%

Must have PIN#

Step Five

Direct Stafford Student Loan• FreshmenFreshmen $5,500$5,500

• SophomoreSophomore $6,500$6,500

• Junior/SeniorJunior/Senior $7,500$7,500

• Graduate Graduate $8,500/12,000$8,500/12,000

• Independent Independent $4,000/5,000 $4,000/5,000

Disbursed ½ & ½ Disbursed ½ & ½

Answer #31 as bothAnswer #31 as both

Step Five Con’t

• Students must sign a promissory note for Stafford and Perkins loan.– MPN – www.dlenote.ed.gov

• Good for 10 years

– Perkins – https://www.studentloans.psu.edu/esign

– PIN # used to sign online.

Step Six

• Loan Entrance Counseling Required– Stafford Student Loan

• Activate PSU Access Account– Students

• Loan Entrance Counseling

Step Seven

• Academic Scholarship Application – Web-based application

• online @ www.hbg.psu.edu– Prospective Student– Financial Aid– Scholarships

• GPA = 3.0 or greater– Deadline April 1, 2009

Step Eight PLUS Loan – Parent borrows on behalf of the dependent

student.

Fixed interest rate @ 7.9%.

A 2.5% origination fee deducted from gross amount of the loan borrowed.

Repayment begins 60 days after the 2nd disbursement. May be deferred contact 800-848-0979

Set up “Friend of Penn State” eLion Access through student’s eLion account given at FTCAP. After 6/30 apply for PLUS loan at https://www.dlenote.ed.gov. Sign MPN one time only.

Step Nine

• Complete Rapid Refund Form • eLion:

– Students• Refund Information

• Refund available within

48 hours

Step Ten

CONFIRM REGISTRATION

Schedule/Registered

No Paper BillsBills on eLion approx.

July 10, 2009

Questions