Financial Aid Financial Aid 2011-122011-12

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

• Swatara Building

• 717-948-6307

• 800-222-2056 Option #1

2011-12 Estimated Tuition & Fees

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

• $12,730 - $13,250 $18,986 – 19,828

– Room & Meals*• $9,054 $9,054

– Books & Supplies**• $1,900 $1,900

• *Direct Costs

• **Indirect Costs

Step One

2011-12 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 Two

• Work Study• Answer question on FAFSA • $8.50 per hour• Max 20 hours per week• Paid bi-weekly• Direct Deposit

Campus Based Aid

• Supplemental Educational Opportunity Grant (SEOG)

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

Award Notifications

• Student Aid Award Notification sent via email starting March 23rd and continues on a rolling basis.

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

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

Step Three• Complete request from Pennsylvania Higher Education Assistance

Agency (AES/PHEAA).

• 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

• Copies of 2010 Tax return– Supporting schedules, W-2’s & proof of untaxed

income.

• Income Validation by PHEAA

• Special Circumstances – Contact the Financial Aid Office if any of the following occurs within 2011-12 academic year– Lost wages, untaxed income, death

Direct Lending

PSU participates in Direct Lending for Stafford, Plus & Grad-Plus loans.

Interest Rate:Subsidized

2011-12 – 3.4% Unsubsidized

6.8% Origination fee

0.5%

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

Step Six

• Students must sign a Master Promissory Note (MPN) for Stafford, and Perkins, also Loan Entrance Counseling.– MPN:

• www.StudentLoans.gov

• Federal PIN #

• Good for 10 years

– Perkins Loan:

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

Step Seven

• Loan Entrance Counseling Required– Student Loans.gov OR

• Activate PSU Access Account– Students

• Loan Entrance Counseling

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

student.

Fixed interest rate @ 7.9%.

A 2.5% origination fee

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

Set up “Friends of Penn State” eLion.psu.edu. Student must give parent access to Plus Request. Apply after June 30, 2011.

Step-by-step tutorial at www.psu.edu/studentaid Sign MPN one time only.

Academic Progress• Students are required to pass a minimum of 24 credits

every two semesters to maintain financial aid eligibility for the PHEAA Grant. For Title IV aid (Federal) we recommend both students & parents review the Satisfactory Academic Progress Policy at

• ww.psu.edu/studentaid/needto know.

Step Nine

• Complete Rapid Refund Form • eLion:

– Students• Refund Information

• Refund available within

72 hours

Step Ten

CONFIRM REGISTRATION

Schedule/Registered

No Paper BillsBills on eLion approx.

July 10, 2011

Questions