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| Home > Prospective Students > Financial Aid > Survival Guide |
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Office of Financial Aid My Financial Aid Survival Guide FAFSA
www.fafsa.ed.gov Priority Deadline March 1
SCHOOL CODE: 002062
www.financialaid@bowiestate.edu
General Information Q: What is financial aid? A: Financial Aid is any grant, scholarship, loan or work-study program offered for the express purpose of assisting a student to meet educational expenses (tuition and fees, room and board, transportation, books and supplies, etc) Q: What is the cost of attendance? A: The total amount it will cost a student to attend Q: What is EFC? A: The EFC (Expected Family Contribution) is an amount the federal government, via the Free Application for Federal Student Aid (FAFSA) process which estimates what a family should contribute to the cost of a college education, based on income, assets and other circumstances. Q: What is financial need? A: Financial need is the difference between the cost of attendance and the expected family contribution as calculated under the federal needs analysis formula. Example: Cost of attendance: $1200 – EFC: $1000 = Financial Need: $200 Q: What is a Grant? A: A grant is type of financial aid that does not have to be repaid. Q: What is a Loan? A: A sum of money borrowed that must be repaid once you graduate, cease to be enrolled at least halftime or withdraw from the University. Students will have a grace period for either six or nine consecutive months after the borrower drops below half-time study. Q: What is Work-Study? A: Work-Study is part-time employment on campus to help meet educational costs. Q: What is a Scholarship? A: Scholarships are “free” monies that do not need to be repaid. There are two types of scholarships: outside and institutional. Institutional Scholarships are awarded by the college you are planning to attend, and can only be used at that school. Whereas, outside scholarships are awarded by an outside organization, and can be used at any school, as long as you meet their individual criteria. Most scholarships are not automatic. You must apply individually for each scholarship, and meet their minimum eligibility requirements. These may be based on grades, religious affiliation, ethnic background, ancestry, hobbies, and/or you declared major and career goals. Q: How do I apply for A: You may obtain an application on-line, website: www.bowiestate.edu or obtain a scholarship application from the: q Financial Aid Office q Student Government Association Office q Dean of the q Dean of the q Dean of the q Dean of the q Residence Halls
Williams D. Ford Direct Loan Program Q: What is a Master Promissory Note (MPN)? A: Effective for the 1999-2000 academic year. The MPN is a promissory note that can be used to make one or more loans for one or more academic years (up to 10 years). If you are a student borrower under the Direct Loan Program attending a school that is authorized and chooses to make multiple loans under the same MPN for more than one academic year, you will only sign one MPN. It will be used for all of your loans over multiple academic years at the same school. For example, if you enroll in college as a freshman and borrow under the Direct Loan Program for all years of study at the same school, you may be able to borrow under this one MPN for all years. Q: What is the website for MPN? A: The website: http://dlenote.ed.gov/completenew Q: How does the website for the Electronic MPN work? A: The electronic MPN website allows you to complete and sign an MPN over the web as an alternative to using a paper MPN. The process for completing an electronic MPN is simple. You will need to have your Department of Education issued PIN to begin the process. If you do not have your PIN, please visit the official website: www.pin.ed.gov Q: What is a PLUS Master Promissory Note (PLUS MPN)? A: Effective for the 2003-2004 academic year. The PLUS MPN is a promissory note that can be used to make one of more Direct PLUS Loans to a parent borrower to help pay for the educational costs of one dependent student for one of more academic years. Generally, a parent borrower will be required to complete a Direct PLUS MPN only once, when the parent first borrows a Direct Plus loan for a dependent student. In most cases, the parent may then receive additional Direct Plus Loans for the student for up to 10 years without completing a new Direct PLUS MPN, as long as the student continues to attend a Direct Loan school that is authorized and chooses to make multiple loans under the Direct PLUS MPN. Q: Will I be eligible for a loan, if I enroll in less then (6) six credit hours? A: No. All undergraduate and graduate students must be enrolled and maintain 6 credit hour each semester.
Perkins Loan Program Q: What is a Perkins Loan? A: The Federal Perkins Loan is a need-based, low-interest loan available to undergraduate and graduate students. The institution is the lender of this loan. Q: What is the interest rate to this loan? A: This loan has a 5% interest rate and is interest-free until 9 months after graduation or separation from the University. Q: How much can I borrow from the Federal Perkins Loan Program? A: Awards at Q: Will I be required to sign a promissory note? A: Yes, you will sign a promissory note during the required entrance interview. Q: How can I access deferment and borrower service information? A: Perkins borrowers can access deferment and borrower service information from AMS Servicing Group website: http://www.amsservicing.com or call toll-free 1800-334-8609. AMS Servicing Group is the billing agency for
PIN Request Information Q: What is a PIN? A: The PIN (Personal Identification Number) serves as your identifier to let you access your personal information in the U.S. Department of Education Systems. Your PIN serves as your electronic signature; you should NOT give it to anyone. When you use your PIN, you must type the PIN exactly as it appears on the letter that the U.S. Department of Education sent to you. Q: Do I need a PIN? A: You need a PIN in order to perform any of the following tasks: · Electronically sign the Free Application for Federal Student Aid (FAFSA) on the Web, Renewal FAFSA on the Web, or FAFSA Corrections on the Web. · View the status and results of a processed FAFSA application on the FAFSA on the Web site. · Access your Federal Student Financial Assistance information on the National Student Loan Data System (NSLDS) Web site. · Make address corrections to a Direct Loan account, calculate a repayment schedule, and get interactive counseling on deferment or forbearance for any Direct Loans on the Direct Loan Servicing Web site. · Make updates to the address where your PIN can be mailed. · Request a duplicate copy of your Student Aid Report (SAR). Q: Who is eligible to receive a PIN? A: Currently, all students and parents of a dependent student can obtain a PIN. Parents and first-time financial aid applicants may also apply for a PIN. When applying for the first time the U. S. Department of Education will send your name, date of birth and Social Security Number (SSN) to the Social Security Administration (SSA). If the information you provide does not match with the SSA, you will not be able to receive a PIN. Q: How do I request my PIN, and how long does it take to receive? A: If you don't have a PIN and you are eligible to receive one, or would like a duplicate copy, you may request a PIN at www.pin.ed.gov and follow the on line instructions. It will take approximately 7-10 days after you request your PIN for you to receive it in the mail. If you have to mail a signature page for your request, it may take slightly longer. Q: Can I receive My PIN electronically? A: Yes. If you would like to have your PIN delivered to you electronically, you will need to provide an e-mail address during the request process. You will also be obtaining your PIN electronically if you provided your e-mail in your application. You will then receive e-mail once your request is processed. This e-mail will contain a link to U.S. Department of Education secure PIN delivery website where you will be able to input your data and retrieve your PIN online. Please Note: Your PIN will be available online within 14 days from the date you have submitted the request.
Q: Where can I use the PIN? A: You can use your PIN at these U.S. Department of Education Web sites: · FAFSA on the Web: Web site: http://www.fafsa.ed.gov Access and complete your Renewal Free Application for Federal Student Aid (FAFSA), complete your initial FAFSA and submit corrections to your processed FAFSA. You may also use your PIN to electronically sign your submitted FAFSA or obtain a copy of your processed FAFSA information. · National Student Loan Data System Website: http://www.nslds.ed.gov View a history of the federal student financial aid you have received. · Direct Loan Consolidation: Web site: http://www.loanconsolidation.ed.gov/ Your PIN will enable you to track the processing status of your online Consolidation Loan application throughout the entire consolidation process from application receipt to booking with Direct Loan Servicing. · Federal Direct or Federal Family Education Loan (FFEL) Master Promissory Note You may also E-sign your promissory note on this Website: http://www.ed.gov/offices/OSFAP/DirectLoan/index.html Q: What do I do if I lose or forget my PIN? A: If you lose, forget or need a duplicate of your PIN, you will need to request that a PIN be sent to you. If you think that someone else may know your PIN, or you believe your PIN may have been compromised when it was lost, the U.S. Department of Education can calculate a new PIN for you. Visit the website: www.pin.ed.gov and follow the menu. Q: Does my PIN expire? A: No, your PIN does not expire. However, if you have requested that a new PIN be created for you, only your new PIN can be used.
Additional Source of Financial Aid Website: http://www.mhec.state.md.us The purpose of this program is to provide funding to public two and four-year colleges and universities to implement new programs with the goal of providing for innovation in educational reform and practices. The incentive grant program offers an opportunity to creatively address such critical issues as teacher education reform, student access, diversity, and the use of technology in instruction. Deadline: March 1. What other requirements do I have to meet to be eligible? Students and parents (if dependent student) must be
To be considered
Be To be considered independent, you must meet at least one of the following conditions:
Enrollment requirements are as follows:
D.C. Tuition Assistance Grant Program (DC TAG) Website: http://tuitiongrant.washingtondc.gov Students must currently be DC residents and have lived in the · Students must have graduated from high school or received the equivalent of a secondary school diploma (G.E.D.) on or after January 1, 1998 and have begun their freshman year of college within three years of graduating. · Students must be enrolled at least halftime in an undergraduate degree or certificate program. · Students must not have already completed an undergraduate degree. Two options: Private College Option: Provides up to $2,500 per year for up to five years toward tuition costs at D.C.-area private colleges (includes D.C., Prince George's, Montgomery, Arlington and Fairfax counties, the City of Alexandria and private historically black colleges and universities in Virginia). Who is Eligible? How Do I Apply? LEAP (Leveraging Educational Assistance Partnership) Who is Eligible? How Do I Apply? Completed LEAP application and submit it along with a copy of the Student Aid Report (SAR) to the college or university you plan to attend. Applications are available by calling the Office of Post-Secondary Education, Research and Assistance (OPERA) at 202-698-2400. Applications are also available through DC-CAP advisors, the Greater Washington College Info Center and the For More Information Telephone: 202-727-3688 Website: www.dhs.was.dc.us
D.C. College Access Program (DC-CAP) Last Dollar Awards Who is Eligible? How Do I Apply? For more information, contact DC-CAP at 202-783-7933. Register with DC-CAP advisor Complete a FAFSA form Provide DC-CAP with copies of Student Aid Report (SAR) and Financial Aid Award Letter AmeriCorps: A program that allows students to earn education awards in return for national service. For more information contact the Corporation for National and Community Service, 1-800-942-2677 or visit their website, www.cns.gov.
Academic Eligibility Q: What impact will my grades have on my financial aid? A: You must meet the University’s Financial Aid Office satisfactory academic progress policy. (See Financial Aid Office for copy of policy). Q: How many credits must I enroll in to receive financial aid? A: You must enroll and maintain at least six (6) credit hours, except for the Pell Grant Program. To receive the maximum Pell grant award you must enroll in a minimum of twelve (12) credit hours. Q: What impact will an audited course/s have on my financial aid award? A: Audited courses are excluded from financial aid registered hours you must enroll in at least 6 credits of non-audit courses. Q: What impact will my withdrawal from the University have on my financial aid award? A: Effective October 7, 2000 if you withdraw from school we must determine how much, if any, of your financial aid funds must be returned.
Definitions Independent student: · Student at least 24 years of age by December 31st of the award year; · Graduate or professional student; · Married; · Has legal dependents other than a spouse; · Orphan or ward of the court; · Veteran of the Full time: Student enrolled in twelve (12) credit hours for undergraduates and nine (9) hours for graduate students. Three quarter time: Three quarter time status applies only to undergraduate students enrolled in 9-11credit hours. Half time: All students enrolled in 6 credit hours. Less than half time: All students enrolled in 1-5 credits hours. FAFSA on the Web: FAFSA on the web is an interactive web page where you complete a FAFSA online and submit your data over the Internet.
Book Purchases Q: Can I use my financial aid to buy books? A: If you have a credit balance on your processed bill, you may have the credit applied to your Bowie Card. The credit on the Bowie Card may be used to purchase books with a maximum of $800.00. Estimated or pending financial aid cannot be added on the Bowie Card for books Q: Where is the A: Q: How many times can I add money to my A: Per semester one transaction.
Helpful websites: Obtain a new PIN www.pin.ed.gov FAFSA, Renewal FAFSA, and FAFSA Corrections National Student Loan Database System Direct Loan Servicing Direct Loan Consolidation Master Promissory Note Entrance Counseling Quiz Direct Loan Exit Interview Perkins Loan (Billing Agency) AMS Serving Group AMS Loan Consolidation Low Income Directory for Teacher Cancellations http://www.ed.gov/offices/OSFAP/Students/repayment/teachers/perkins.html Teacher Shortage Areas http://www.ed.gov/offices/OSFAP/Students/repayment/teachers/tsa.html You may contact Customer Service at (1-800-511-5806) or by e-mail at fasaweb@ncs.com
Scholarship Information HTTP://WWW.RONBROWN.ORG/ JACKIE ROBINSON FOUNDATION SCHOLARSHIPS HTTP://WWW.JACKIEROBINSON.ORG/ MARINE CORPS SCHOLARSHIPS HTTP://WWW.MARINE-SCHOLARS.ORG/ http://www.mcdonalds.com/usa/good/people/scholarship.html UNITED MINORITY HEALTH PROGRAM HTTP://WWW.AHCPR.GOV/FUND/MINORTRG.HTM AMERICAN SOCIETY FOR MICROBIOLOGY UNDERGRADUATE FELLOWSHIPS HTTP://WWW.ASM.ORG/EDUSRC/EDU23B.HTM HTTP://SCHOLARSHIP.TYLENOL.COM/ http://www2.coca-cola.com/ourcompany/ourdiversity.html HTTP://WWW.ASTRONAUTSCHOLARSHIP.ORG/ COLLEGE FUND/UNCF ATHLETIC SCHOLARSHIPS http://www.athleticscholarships.net/ HTTP://WWW.PROJECT-EXCELLENCE.COM INTEL SCIENCE TALENT SEARCH WWW.SCISERV.ORG/STS HTTP://WWW.AASA.ORG/DISCOVER.HTM HTTP://WWW.STUDENTS.GOV/ HTTP://WWW.AICPA.ORG/MEMBERS/DIV/CAREER/EDU/JLCS.HTM HTTP://WWW.NATIONALSERVICE.ORG/SCHOLARSHIPS/INDEX.HTML HTTP://WWW.INVENT.ORG/COLLEGIATE/ HOLOCAUST REMEMBRANCE SCHOLARSHIPS THURGOOD FINAID: THE SMART STUDENTS GUIDE TO FINANCIAL AID (SCHOLARSHIPS) HTTP://WWW.FINAID.ORG/ MICROSOFT SCHOLARSHIP PROGRAM HTTP://WWW.MICROSOFT.COM/COLLEGE/SCHOLARSHIPS/MINORITY.ASP WILLIAM RANDOLPH HEARST ENDOWED SCHOLARSHIP FOR MINORITY STUDENTS HTTP://WWW.APSANET.ORG/PS/GRANTS/ASPEN3.CFM GUARANTEED SCHOLARSHIPS HTTP://WWW.GUARANTEED-SCHOLARSHIPS.COM/ JACKI TUCKFIELD MEMORIAL GRADUATE BUSINESS SCHOLARSHIP (FOR AA STUDENTS N HISTORICALLY BLACK COLLEGE & UNIVERSITY SCHOLARSHIPS HTTP://WWW.IESABROAD.ORG/INFO/HBCU.HTM INTERNATIONAL STUDENTS SCHOLARSHIPS & AID HELP COLLEGE BOARD SCHOLARSHIP SEARCH HTTP://CBWEB10P.COLLEGEBOARD.ORG/FUNDFINDER/HTML/FUNDFIND01 BURGER KING SCHOLARSHIP PROGRAM HTTP://WWW.BKSCHOLARS.CSFA.ORG/ SIEMENS WESTINGHOUSE COMPETITION HTTP://WWW.SIEMENS-FOUNDATION.ORG/ FEDERAL SCHOLARSHIPS & AID GATEWAYS SCHOLARSHIP & FINANCIAL AID HELP http://www.blackexcel.org/fin-sch.htm SCHOLARSHIP LINKS (ED FINANCE GROUP) HTTP://WWW.EFG.NET/LINK_SCHOLARSHIP.HTM FAFSA ON THE WEB (YOUR KEY AID FORM & INFO) AID & RESOURCES FOR RE-ENTRY STUDENTS SCHOLARSHIPS AND FELLOWSHIPS HTTP://WWW.OSC.CUNY.EDU/SEP/LINKS SCHOLARSHIPS FOR STUDY IN PARALEGAL STUDIES HTTP://WWW.PARALEGALS.ORG/CHOICE/2000WEST.HTM SCHOLARSHIP AND FELLOWSHIP OPPORTUNITIES HTTP://CCMI.UCHICAGO.EDU/SCHL1
Important Phone Numbers & Websites: FAFSA Long Distance 1-319-337-5665
Selective Service 1-847-688-6888
IRS 1-800-829-1040 Social Security Administration
Perkins Loan (Billing Agency) 1-800-458-4492
Campus Partners: http://www.campuspartners.com Borrowers: https://www.mycampusloan.com
Campus Partners Loan Consolidation Student Trust: www.EdLoanConsolidate.com
Direct Loan Inquires 1-800-848-0979
DC Tuition Assistance Grant 1-202-727-2824
DC LEAP 1-202-727-6436
Sallie Mae 888/2-SALLIE (272-5543) Financial Aid Office 1-301-860-3540 FAX: 1-301-860-3549 Admissions 1-301-860-3415 Student Accounts 1-301-860-3490
FINANCIAL AID CHECKLIST Students flagged for verification by the q Signed copy of the student/spouse current year federal tax return (1040,1040EZ or 1040A) q All w’2s for student/spouse q Signed copy of the parent/s current federal tax return (1040, 1040A or 1040EZ) q If parents do not file – Transcripts from IRS. (1-800-829-1040 or www.irs.ustreas.gov) q All w’2s for parent/s q Funding Agency verification of annual untaxed income received q Dependent Verification Worksheet for Federal Student Aid Program q Independent Verification Worksheet for Federal Student Aid Program q Any additional documents required __________________________ q Signed award letter q Signed Master Promissory note for first time Direct Loan Borrower (http://dlenote.ed.gov) q Documentation of Direct Loan Entrance interview (www.dlssonline.com) q Signed Parent PLUS Loan Application q Signed Parent PLUS Loan Promissory Note (http://dlenote.ed.gov) q Signed Perkins Loan Promissory Note for students awarded a Perkins loan q Proof of attendance for Federal College Work study Workshop if awarded q College work study q Notification of change in enrollment to the Financial Aid Office required for students flagged for verification by the U.S. Department of Education Students not-flagged for verification by the q Processed Student Aid Report with a valid EFC number q Signed award letter q Signed Master Promissory note for first time Direct Loan Borrower q Documentation of Direct Loan Entrance interview q Signed Perkins Loan Promissory Note for students awarded a Perkins loan q Proof of attendance for Federal College Work Study Workshop if awarded college work study q Notification of change in enrollment to the Financial Aid Office Tel: (301) 860-3540 Fax: (301) 860 –3549 e-mail: www.financialaid@bowiestate.edu SCHOOL CODE: 002062 |
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