Applying for Financial Aid www.fafsa.gov Opens January 1 st
2015-2016 FAFSA applies to: Fall 2015 Spring 2016 Summer 2016 Can
be completed before taxes have been filed Use estimated figures
Make corrections with accurate figures after taxes are filed Must
be completed every year
Slide 3
Verification Your Response is Urgent! Random selection;
notified by e-mail Verifies the FAFSA is correct You cannot be
awarded until Verification is complete If selected, we need:
Verification Worksheet (completely filled out) 2014 IRS Tax Return
Transcriptsnot Tax Returns Can be loaded into FAFSA with IRS Data
Retrieval Can also be found at irs.gov Other documents as requested
Check your AP e-mail even after turning in documents!
Slide 4
Financial Aid Award Announced as early as April Can be checked
through : AP OneStop AP e-mail If you receive outside resources:
Must Report it to Financial Aid using the Additional Resources form
Scholarships Discounts Benefits This can prevent over-awarding on
your account (over-awards sometimes result in billings to the
student)
Slide 5
Cost of Attendance A tool for Financial Aid Located on OneStop
under Award Overview Not your billing statement Calculated as the
average amount students need for the following all added together:
Tuition & Fees Books & Supplies Room & Board Misc.
Expenses Used as your budget for financial aid
Slide 6
Tennessee Hope Lottery Scholarship www.collegepaystn.com GPA
Requirements 2.75 at 24 and 48 attempted credit hours 3.0 beyond 48
attempted hours Enrollment Requirements If you registered
full-time, stay at full-time Failure to remain at full-time could
result in a permanent loss of the scholarship If you lose your
lottery scholarship: Appeal Only with extenuating circumstances
(cannot appeal due to GPA) Regain Every 24 attempted credit
hours
Slide 7
Tennessee Promise Available at APSU Currently estimated at
$2,079 per semester The amount of the award may be reduced if other
forms of gift aid are received, including Lottery, Pell & TSAA
Must be seeking an Associates Degree Must perform required
community service hours prior to the beginning of the semester its
received Must maintain satisfactory academic progress
Slide 8
Satisfactory Academic Progress Financial Aid is based on: GPA
Completion rate of classes (Pace) Overall progress toward
graduation Failure to maintain satisfactory academic progress will
result in the cancellation of financial aid
Slide 9
Readiness Checklist
Slide 10
Authorization Form Optional Allows excess financial aid to be
applied to: Bookstore debit program Health services Parking tickets
Etc. May be completed online at: AP OneStop Web Self Service
Financial Aid Eligibility Authorization Form
Slide 11
Enrollment Intentions Needed every year Required so our office
plans for the correct budget Financial Aid is based on: Enrollment
hours Length of coursework Attendance throughout the year The
Enrollment Intentions form can prevent over- awarding on your
account (over-awards sometimes result in billings to the
student)
Slide 12
Enrollment Intentions
Slide 13
Slide 14
Slide 15
Slide 16
Slide 17
Failure to enroll the hours you indicate could result in a
billing to your account.
Slide 18
Terms & Conditions Also needed yearly Reminds you of
important rules regarding aid Located at: Onestop.apsu.edu Web Self
Service Financial Aid & Veterans Affairs Eligibility Terms and
Conditions Lottery recipients have a separate Statement of
Understanding as well
Slide 19
Loans Accepting your offers The offered amount is for the
entire aid year Whatever you accept will automatically be split
between the Fall and Spring semesters If you plan on attending in
summers, leave enough loans remaining to be applied to the Summer
semester
Slide 20
Loans Steps to Take
Slide 21
Loans
Slide 22
Slide 23
Whatever you accept will split between Fall and Spring If you
accept a partial amount, the remainder can be picked up later
through an Adjustment Form or in the Summer semester
Slide 24
Readiness Checklist Revisited
Slide 25
Loans Additional Requirements Direct Loan Entrance Counseling
Reviews all loan regulations Master Promissory Note You affirm that
you are responsible for repaying your loans Both must be completed
at studentloans.gov Loans will not pay out unless these
requirements have been completed Good for 10 years
Slide 26
Debt Management Borrow Responsibly Aggregate Loan Limits the
total you can borrow Undergraduate Dependent = $31,000
Undergraduate Independent = $57,500 Graduate = $138,500 Maxing out
on loans each year and taking more than 4 years to graduate could
cause you to exhaust your limits BEFORE you graduate. The average
loan debt upon graduation: $25,000
Slide 27
Any Questions? Ellington Building, Room 216
apsu.edu/financialaid (931) 221-7907 Welcome to APSU!