"see blue." u 2015 | financial aid
TRANSCRIPT
#seeblue
Financial Aid & Scholarships
University of KentuckyOffice of Student Financial Aid
and Scholarships
2015 Freshmen Orientation
See Your Dreams, See Your Future, See Blue
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Student Financial Aid Office127 Funkhouser Building
Lexington, KY 40506-0054Phone: 859-257-3172Fax: 859-257-4398
www.uky.edu/financialaid
Office Hours:Monday - Friday 8 am to 4:30 pm
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
SFA Counselor Assignments
Front Desk: 859.257.3172
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
SCHOLARSHIPSThere are several ways to receive scholarships at UK
Financial Aid Office Need-based scholarships Departmental and College-sponsored
Scholarships Must apply for separately
Office of Academic Scholarships Academic-based Scholarships Diversity Scholarships Legacy Tuition Program 859-257-4198
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Apply for Financial Aid
File a FAFSA www.fafsa.gov
- List UK school code: 001989
- Available January 1st
- Use estimated tax information
- Must be completed every year
- It is not too late to apply for 15/16
year
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Following Up With The FAFSA
Update FAFSA after taxes have been processed
1. Go to www.FAFSA.gov
2. Go to Make Corrections and navigate to parent and student income sections (for tax filers)
3. Use IRS Data Retrieval Tool to import tax information if possible
4. Sign and Re-Submit FAFSA
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Selected for Verification?
If selected for Verification complete requirements at www.KHEAA.com
Make sure the IRS Data Retrieval Tool has been used on the FAFSA for all tax filers
If unable to use the DRT, a Tax Transcript can be requested at www.IRS.gov/Individuals/Order-a-Transcript
Call KHEAA 1-855-272-8771
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Verification and Your Awards
Aid is awarded based on initial FAFSA application
Awards will be adjusted if necessary after Verification is completed
Follow up at www.KHEAA.com to check the status of verification prior to the start of school
Incomplete Verification = No Aid Disbursed
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
University of Kentucky2015-2016 Average Cost of Attendance
NOT ALL COSTS ARE BILLED CHARGES! STUDENT IS ONLY BILLED FOR TUITION, FEES AND ROOM & BOARD
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Freshman Cost Calculator http://seeblue.com/calculator
See Example Below:
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Types of Aid Grants: Federal and State Grants
Do not have to be paid back Must qualify based on financial NEED (FAFSA)
Loans: Federal and Private Loans Must be paid back
Scholarships: Academic & Need Based Academic: based on ACT & GPA Need Based: based on FAFSA information
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Federal Direct Loans Subsidized Loan:
No interest while in school Current interest rate is 4.29% Interest and repayment begins 6 months after graduation or enrolled less than half time
Unsubsidized Loan: Interest accumulates while in school Current interest rate is 4.29% Repayment begins 6 months after graduation or enrolled less than half time
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Federal Direct Loan Requirements
Complete Master Promissory Note & Entrance Counseling sessions
1. www.studentloans.gov
2. Log in using Federal Student Aid ID
3. Information sent to us electronically
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Federal Perkins Loan
Limited Funds – Awarded to student based on Financial Need and FAFSA filing date
Does not have interest accumulating while in school
Interest and repayment begin 9 months after graduation or less than half time enrollment
Current interest rate is 5%
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Federal Perkins Loan Requirements
Complete Master Promissory Note & Entrance Counseling sessions before September 15th or lose loan
http://www.ecsi.net/promRQ
Log in using Student Aid IDInformation sent to us electronically
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Federal Work-Study (FWS)
Limited Funds – Awarded to student based on Financial Need and FAFSA filing date
If awarded Pick-up Job Packet from FWS Office in AUGUST
Follow Instructions – Search Job Openings, Apply, Interview, Complete paperwork once hired
Return Required Packet to FWS Office before beginning work.
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Kentucky Educational Excellence Scholarship (KEES)
Maximum award for GPA - $2000 Maximum ACT (28+) bonus - $500 Renewable for 8 semesters Estimated KEES amount noted on August billing statement KEES credited to student accounts after add/drop period each
semester 2.5 cumulative GPA at end of first year required to retain full
award; 3.0 GPA after second year See SFA website for full details on retaining eligibility
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Need More Funding?
Additional Loans Are Available:
Parent PLUS Loan: Federal loan in the parent’s name
Student Alternative Loan: Bank loan in the student’s name with a co-signer
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Parent Federal Direct PLUS Loan
Apply at www.studentloans.gov Based on a credit check If approved, can borrow up to student’s
cost less other aid Repayment may be deferred until
student graduates Current interest rate is 6.84% If denied, student can borrow additional
unsubsidized loan (up to $4,000 for the year)
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Student Alternative Loans
Students may borrow through a bank
Based on credit check, requires a co-signer
May choose any bank that offers student loans
Comparison Chart available as a starting point at: www.uky.edu/financialaidClick on Loans>Alternative Loans
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Receiving an Outside Scholarship?
Complete Outside Scholarship / Resource Form on our website
www.uky.edu/financialaid
Click on Forms and the letter O
Attach a copy of scholarship award letter and submit to our office
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Steps to Accept Aid
1. Log into MyUK: http://MyUK.uky.edu 2. Student Services>Financials>Financial Aid3. Academic Year – Select 2015-20164. Terms and Conditions – Click I Agree (this is not
accepting the aid yet)5. View and Accept – Fill in Buttons to Accept or Decline each item6. Click Submit as Indicated
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Student Bill will only be Emailed to Student’s UK Email address!!
Fall Bill sent August 1st, Due August 22nd
Spring Bill sent January 1st, Due January 22nd
Student can attend classes with an unpaid balance
1.25% late fee assessed to unpaid balance at the end of each month
Cannot register for future semesters until balance is paid
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
How to Estimate Your Bill for the Semester
Tuition and Fees + Residence Hall charges(if applicable) = Total Bill for the Semester - Estimated Financial Aid = Balance Due or Amount to be Refunded
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Example of Bill (In-State)
Tuition & fees $ 5,468 + Res. Hall charges $ 5,717 = Total Due $11,185 - Estimated Aid $ 2,721 = Balance Due $ 8,464
*If living off-campus, only tuition & fees are charged
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Example of Bill (Out-of-State)
Tuition & fees $12,134 + Res. Hall charges $ 5,717 = Total Due $17,851 - Estimated Aid $ 2,721 = Balance Due $15,130
*If living off-campus, only tuition & fees are charged
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
When Someone Else is Paying – Activate “Guest View”
Guest can view student account information
Guest can make payments MyUKMyInfoGuest Access Enter guest email & set access level Expiration date on guest view
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
When Is Aid Released?If enrolled full-time & without any financial aid holds:
About 10 days prior to classes beginning: Direct Loans, Perkins Loans, Parent Plus Loans, Alternative Loans
About 10 days into the semester (after last day to add): PELL Grant, CAP Grant, KEES
If enrolled part time: all aid will post after the last day to add
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
How do I receive my remaining Financial Aid?
SIGN UP FOR DIRECT DEPOSIT
http://MyUK.uky.edu
Student Services>MyInfo>Direct Deposit
Refund will be sent after bill has been paid in full each semester.
Email notification when money has been sent to your bank account.
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Can My Aid Help Pay for Books?
Available if aid is more than enough to cover bill
Eligible students receive an email 1-2 weeks prior to the start of school
Complete steps from email for funds to be available on Wildcard Student ID to use at participating bookstores
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
To Remain Eligible for Federal/State Financial Aid
Complete the FAFSA again each year March 15 priority date for upperclassmen
Maintain Satisfactory Academic Progress (SAP) Requirements
http://www.uky.edu/FinancialAid/rap.htm
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Satisfactory Academic Progress Requirements for Federal/State Need-Based Aid:
Successful completion of two-thirds (67%) of all courses attempted
Earn at least a 2.0 cumulative GPA at the end of the spring 2015 semester
Receipt of need-based aid capped at 150% of the credit hours required for your degree
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Reminders: Reapply for financial aid each year. File FAFSA
early as possible January 1st or after
Respond ASAP to requests for additional information or clarification.
Keep a record of all applications; make notes of contacts.
Contact us when questions/concerns arise or when major changes occur.
Financial Aid & Scholarships
@seeblue
applyuk.tumblr.com
/UKseeblue
@UKYAdmission
/seeblue
#seeblue
Question and Answer Session
Thank You!
See Your Dreams, See Your Future, See Blue