Office of Student Financial Assistance 1

Financial Aid

Office of Student Financial Assistance 2

WHAT WE WILL COVER

Cost of AttendanceEligibilityTypes of Aid

Office of Student Financial Assistance 3

ESTIMATED COST OF ATTENDANCE9 MONTH ACADEMIC YEAR (14-15)

DIRECT COSTS Tuition & fees (15 hours-Fall & Spring)$8772 Books (varies) 1192 Room and board-dorm (varies) 8868

SUBTOTAL $18,832

INDIRECT COSTS Misc. costs (varies)$1854 Transportation (varies) 3000

TOTAL EST. COST $23,686

Office of Student Financial Assistance 4

Out of State & Foreign students,

add about $10,000 per

year.

Office of Student Financial Assistance 5

Planning for the Cost to Attend CollegePLANNING YOUR EXPENSES Tuition, Fees & Misc. $_____ Clothing $_____ Insurance $______

Books $_____ Laundry/Cleaning $_____ Car $______Supplies $_____ Commuting $_____ Renters Ins. $______Fraternity or Trips home $_____ Medical/Dental $______Sorority dues $______ Car Payments $_____ Prescriptions $______

Dorm/Rent $______ Auto/Gas/Maint $_____ Miscellaneous $______Utilities $______ Entertainment $_____ ___________ $______Telephone $______ Dates $_____ ___________ $______Furnishings $______ Tapes/CD’s $_____ Emergencies $______

Food/Board $______ Movies $_____ Gifts/Contributions $______ Snacks/Beverages $______ Sports/Fitness $_____

Restaurants $______ Childcare $_____ Total Expenses $______

MEETING YOUR EXPENSES / EXPECTED FAMILY CONTRIBUTION / FINANCIAL ASSISTANCE You & Your Family Financial AidSavings $_____ State Grants $_____ Parent Income $_____ Scholarships – College $_____ Total Family Resources $_________ Gifts $_____ Scholarships – Other $_____ Loans $_____ Federal Pell Grant $_____ + Total Financial Aid $_________

Your Job Earnings $_____ Federal SEOG $_____ Investments $_____ Other Grants $_____ - Total Expenses $_________Federal Benefits $_____ Federal Work Study $_____ State Benefits $_____ Federal Perkins Loan $_____ = Funds still needed (if any) $_________

Federal Sub Stafford $_____ Total Family Resources $_____ Federal Unsub Stafford $_____

Federal Parent PLUS loan $_____ Total Financial Aid $_____

Office of Student Financial Assistance 6

DOCUMENTS NEEDED TO DETERMINE

ELIGIBILITY

Free Application for Federal Student Aid (FAFSA) can be found

at www.fafsa.ed.gov

Electronic Processing is Recommended

Verification documents, Student and Parent Tax Transcripts (if requested)

TASFA Applications

Undocumented students, those without a social security number, must complete a TASFA Application

Not eligible for federal financial aid, including work-study.

www.collegeforalltexans.com

Office of Student Financial Assistance 7

Office of Student Financial Assistance 8

FINANCIAL NEED ANALYSIS

COST OF EDUCATION u Tuition & fees u Books & supplies u Travel u Room & board u Personal expenses

¾ TOTAL FAMILY CONTRIBUTION u Student contribution u Parent contribution

___________________________________ = FINANCIAL AID NEED

Office of Student Financial Assistance 9

TYPES OF FINANCIAL ASSISTANCE

GRANTSu Based on needu Federal, State, University

Office of Student Financial Assistance 10

TYPES OF FINANCIAL ASSISTANCE (Continued)

LOANSu Based on need, such as Subsidized u Some loan programs are NOT based

on need, such as Unsubsidized Interest rates as of July 1, 2014: Direct – Sub 4.66%, Unsub 4.66%; Parent Plus – 7.21%

WORK STUDYu Part-time work u Based on need

SCHOLARSHIPS

Office of Student Financial Assistance 11

SFA’s Purple Promise Program

This program supplements other gift aid up to the grant cap to pay remaining tuition and fees

owed for 15 hours each fall and spring.

Eligibility requirements:

Must be a Texas ResidentMust be a first-time freshmanMust have a combined family Adjusted Gross Income (AGI) of $30,000 or lessMust complete all financial aid application requirements by June 1 Must enroll in 15 semester credit hours each fall and springMust maintain a 2.2 GPA

Office of Student Financial Assistance 12

Federal TEACH Grant Program

Up to $4,000 per year for four years For students who plan on becoming teachers & meet

certain specified requirements Must have & maintain at least 3.25 GPA or higher If a student receives a TEACH grant & does not

complete the required teaching service obligation, the grant must be repaid as a Federal Direct Unsubsidized Loan.

Go to www.teachgrant.ed.gov to learn more.

Office of Student Financial Assistance 13

FINANCIAL AID SAMPLE AWARD PACKAGE

Low Parental Contribution High Parental

Contribution

$21,214 cost $21,214 cost

- $ 0 parent/student contribution - $10,500 parent/student contribution

$21,214 need $10,714 need

AID AWARDED AID AWARDED $5,550 Pell Grant $4,400 Work

Study $2,950 Purple Promise Grant $5,500 Student

Loan $4,400 Work Study $11,314___Parent

Loan ____ $5,500 Student Loan $21,214 Total

Aid Package $2,814 Parent Loan______ $21,214 Total Aid Package

YOUR AID PACKAGE MAY VARY

Putting the Pieces Together

Tuition Rate Calculatorhttp://www.sfasu.edu/controller/businessoffice/students/tuition_calc.asp

Residence Halls and Meal Planshttp://www.sfasu.edu/reslife/102.asp

SFA Award Letter (available in Spring)https://mysfa-prod.sfasu.edu/cp/home/displaylogin

Fixed Rate Tuition Planhttp://www.sfasu.edu/policies/fixed-rate-tuition-plan.pdf

Office of Student Financial Assistance 14

Financial Aid Process

Submit FAFSA/TASFAFinancial Aid Officer determines eligibility once application is received and verification is completeFinancial Aid Awards are packaged and notification is sent to the student via mySFA.Terms and Conditions must be accepted, and awards can then be reviewed and accepted. Financial Aid is disbursed to the bill, which includes housing, meal plan, and tuition and fees.Office of Student Financial Assistance 15

Office of Student Financial Assistance 16

TIPS FOR MAKING APPLICATION

Do your taxes as early as possible each year. Apply on-line, and use data retrieval for

your tax information. Respond promptly to any request for

information from the Financial Aid office. Plan ahead; work out a budget. Don’t wait until the last minute. If you’re lost or confused, make an

appointment with a counselor or call us.

Office of Student Financial Assistance 17

PRIORITY DATES FOR MAKING APPLICATION

February 1, 2015 – Scholarship Application

March 1, 2015 - Summer 2015 enrollment

March 15, 2015 - 2015-2016 academic year

Office of Student Financial Assistance 18

For Your Convenience

Applications, forms and financial aid awards are available on the web.

All correspondence are made through the student’s SFA issued email account.

Financial Aid Officers

Necole Beason A – D

LaShanda Parkhurst F – J

Tammy Mitchum E, K – N

Sara WilliamsO – S

Donna Story T – Z

Office of Student Financial Assistance 19

Office of Student Financial Assistance 20

OFFICE OF STUDENT FINANCIAL ASSISTANCE

1st Floor, Austin Building Room 104

Phone: 936-468-

2403

www.sfasu.edu/

faid

FAFSA on the Web

www.fafsa.ed.gov