Financial Aid Timeline · Financial Aid Timeline •Complete the 2020-21 Free Application for...

Financial Aid Timeline• Complete the 2020-21 Free Application for Federal Student Aid (FAFSA )

• Complete PA State Grant Form prior to May 1st (PA residents)

• Review Your Financial Aid Offer Letter

• Accept Awards, Sign, and Return Offer Award Letter

• email at finaid@kings.edu• mail

• Review Payment Options for balances and additional expenses

• Students Accept Federal Direct Stafford Loans

• Parents begin applying for Federal Direct Parent Plus Loans

• Families apply for alternative loans

Financial Aid Offer

Appointments and Counseling Available

Staff available to meet / review award letters and answer any questions

• Virtually through zoom

• Phone appointments

• Email

Sign & Return Award Offer Letter

Accept or Decline Each

Aid Source

Sign and Date Award

Letter

Return to King’s College

Office of Financial Aid

Changes in Household

Families and students encouraged to contact the Financial Aid Office

• Reduction or Loss of Income

• Change in Household

• Separation or Divorce

• Recent Medical Expenses

• Births/ Deaths

Virtual

Meetings

Available!

What is Verification?

• The Department of Education requires institutions that participate in Federal Title IV aid programs to perform verifications.

• The Department of Education does not provide applicants with specific reasoning why their FAFSA was selected. The DOE uses a formula, not revealed to colleges and universities, to select applicants based on common data errors.

• We are required to compare information from your FAFSA with information/documentation you provide with the verification worksheet for accuracy.

• If there are differences, we may be required to update your FAFSA.

• You will not be eligible receive federal aid until all verification requirements are met.

Verification• Once you complete your FAFSA,

and you are selected for verification, then King’s College will send the student a verification worksheet.

• You will be asked to submit 2018 W2’s and/or tax information with the verification worksheet.

• Make sure to send documents from 2018 since this is the tax year used on the 2020/2021 FAFSA.

• You may be asked for additional documents depending on your circumstances.

• If you misplace the original worksheet you can print the verification worksheet on the King’s website.

• To reduce processing time, please complete the worksheet in its entirety and submit the appropriate documentation as requested on the cover letter.

Contact Shyann Church with verification questions/concerns:

570-208-5876 or shyannchurch@kings.edu

Financing Your Balance• Student Federal Direct Stafford Loans

−4.53% Interest Rate (Subsidized and Unsubsidized)

−Students Complete Master Promissory Note( MPN)

−Students Complete Loan Entrance Counseling

−studentaid.gov

−Suggested Completion after May 1st

Financing Your Balance

• Federal Direct Parent PLUS Loans

− 7.08% Interest Rate

−Parent Request Form

−Students complete Master Promissory Note( MPN)

−Studentaid.gov

−King’s College Request Form

−Suggested Completion after June 1st. Encouraged to wait until bills are sent out.

−Parents encouraged to review credit worthiness prior to college commitment.

Financing Your Balance

• Alternative Loans

−Interest rate varies by lender

−Students generally require a co-signer

−ELM Select

−http://www.elmselect.com/?schoolid=175#/schoolLandings.go

−Check on loan consolidation options

Financing Your Balance

• PAYMENT PLAN - Nelnet

‾The Nelnet payment plan will allow families to make monthly payments on the balance of tuition, fees, room and board less any financial aid received. No interest is charged by King's College. Application fee, allows 10 payments for the year, first payment due in July. Contact information:

‾Nelnet - contact 1-800-722-4867 or https://kings.afford.com

Tips and Reminders

Keep all documents in one location

• FSA ID’s

• Tax information

• Student Aid Report(SAR)

• Scholarship Letters

• Financial Aid Award Letters

Stay Connected

Parent and Family Portal

Personalized newsfeed , events, notifications, and more…

Stay Connected

• Telephone: 1-888-KINGS-PA or 570-208-5868

• Email: finaid@kings.edu

• Connect with us on Facebook

• Instagram – KingsCollegePA