New Student OrientationSummer 2014

Welcome!

Financial Aid

Welcome to OrientationFinancial Aid Agenda

Financial Aid Cycle at UAlbany

Student Loan Programs and Processing Procedures

Parent Loan Program and Processing Procedures

Financial Aid

Financial Aid Cycle

File the FAFSA add UAlbany code 002835 (www.fafsa.gov)

NYS residents link to the TAP application from the FAFSA confirmation page-UAlbany TAP code 0895

Send in all requested information to the Office of Financial Aid

Receive Financial Aid Award Letter

Accept your award MyUAlbany www.albany.edu/myualbany

Financial Aid

Student Loan Programs

Federal Loan Programs

Federal Perkins Loan 5%

Federal Direct Subsidized Loan 4.66% (7/1/14-6/30/15)Subsidized – The federal government pays the interest

during in school status.Federal Direct Unsubsidized Loan 4.66% (7/1/14-6/30/15)Unsubsidized - The student is responsible for the interest

on an unsubsidized student loan. Interest begins accruing immediately after the first disbursement.

Financial Aid

Loan Processing Procedures

Direct Loan

1. Accept your loan on MyUAlbany

2. Complete Entrance Counseling www.studentloans.gov

3. Complete Master Promissory Note www.studentloans.gov

Perkins Loan

1. Accept your loan on MyUAlbany

2. Review and complete Entrance Documentation

http://slsc.albany.edu/ecsi/prom.html3. Complete Federal Perkins Loan Promissory Note http://slsc.albany.edu/ecsi/prom.html

Financial Aid

Federal Direct PLUS Program

Federal Direct Parent Loan (PLUS) 7.21 % (7/1/14-6/30/15)

Can potentially borrow up to cost of attendance minus financial aid

Credit based (must credit qualify)

Payments begin 60 days after loan is fully disbursed*In school deferment of principal available by contacting

the loan servicer

PLUS denials – additional Direct Unsubsidized Loan

Financial Aid

Federal Direct PLUS Processing Procedures

Instructions available under “Parent Quick Links” on the Financial Aid webpage (www.albany.edu/financialaid)

Two step process – visit www.studentloans.gov1. PLUS application and credit check2. Master Promissory Note

Financial Aid

Financial Aid

Financial Aid

SUNY Smart Track

SUNY wide financial literacy tool for studentsFinancial decisions – paying your tuition,

purchasing a home, buying a car…Register for an account and Get on the Smart

Track to a healthy financial future!

Student Accounts

What Will I Be Billed?Full-Time, Undergraduate Semester Charges*

NY ResidentNon-NY ResidentTuition & Fees $ 4,263.50 $ 10,083.50Room & Board $ 5,993.00 $ 5,993.00Total Direct Costs: $ 10,256.50 $ 16,076.50

Indirect Costs** $ 1,337.50 $ 1, 337.50(books, transportation, etc.)

Total Cost: $ 11,594.00 $ 17,414.00

*Subject to change by action of SUNY Board of Trustees. Optional charges that may also be on your tuition invoice include the mandatory Student Health Insurance Plan (SHIP) and the Alumni Student Partnership Fee.

** Out of pocket expenses and do not appear on your Tuition Invoice.

Student Accounts

When Will I Be Billed?

E-Bills are issued on the 20th of each month. Due on 15th of following month.

No paper bills are issued.July 20th – 1st Fall invoice issued due on August 15.Registered on/after July 20th ?...1st invoice will be

August 20th and due 9/15.Dec. 20th – 1st Spring invoice issued.Check your e-mail each month for E-Bill

notifications.

Student Accounts

How Do I Pay My Bill?

Epay Your Way!!!at

epay.albany.edu

Student Accounts

What can I do on Epay?Save Time, pay Online! View and pay your E-Bill.Set up scheduled payments.View your Account Summary/same information as MyUAlbany.

Set up Authorized Users (up to 5) and give 1098T access.

Set up profile - receive text messages when Bills are issued.

Students: Set up your E-Refund Account to receive refunds faster.

Enroll in the E-Payment Plan.

Student Accounts

How Does the Payment Plan Work?• 4 Monthly Installments allowing you to spread

payments.• Fall 2014 semester payment dates are 8/15, 9/15,

10/15, 11/15.• Interest Free!• $45 Enrollment Fee per semester.• May enroll each semester or annually (fall &

spring).• Enroll when 1st invoice is issued in July. If enrolling

after August 15, make up missed installments.

Student Accounts

EPAY.ALBANY.EDU

Student Accounts

A credit indicates no payment due. .

If your E-Bill balance differs from your current balance, you may pay the lower of the two amounts.

Student Accounts

Amount Due

Student Accounts

529 College Savings Plans

• Contact your plan administrator to have funds disbursed.

• If you participate in the NYS 529 College Savings Program you can access the website at: www.nysaves.org.

• You may need to provide a copy of your invoice.

• Visit www.albany.edu/studentaccounts for UAlbany mailing addresses if your 529 plan mails checks.

Student Accounts

On-Campus Banking

SEFCU Branch in the Campus CenterATMs Located on Campus

• SEFCU• KeyBank• TD Bank• Bank of America (Downtown Campus) http://www.albany.edu/uas/ATM_locations.php

Student Accounts

Questions?Visit the Student Financial CenterCampus Center, Room G26(518) 442-3202http://www.albany.edu/sfc