Student Financial Services
E N G A G I N G
T H E
C U L T U R E ,
C H A N G I N G
T H E
W O R L D .
PUTTING THE PIECES TOGETHER
Learning what you need to
know about:
 Financial Aid
 Student Accounts
 Important Dates to
Remember
©2001 Seattle Pacific University
STUDENT FINANCIAL SERVICES
Student Financial Services
Administers:
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Financial Aid
Student Employment
Payment Collection
Student Accounts and Billing
Statements
©2001 Seattle Pacific University
Information Access Authorization
(FERPA)
 Family Educational
Rights and Privacy Act
(FERPA)
 All records belong to
you, the student
 Students must
authorize release of
financial information,
even if your parents are
paying the bill!
©2001 Seattle Pacific University
Information Access Authorization
(FERPA)
 All students have received instructions in the SFS
tutorial to complete the Information Access
Authorization (FERPA) online.
 Students must fully complete the form online
through the Banner Information System:
SPU ID number
Authorized person’s mailing/email
address
Security questions
©2001 Seattle Pacific University
Information Access Authorization
(FERPA)
 Authorized Persons are able to:
Communicate directly with SFS regarding
student accounts;
Talk with SFS regarding financial aid concerns;
Request revisions to financial aid; AND/OR
Receive Student Account Statements.
©2001 Seattle Pacific University
STUDENT ACCOUNT STATEMENT
 August Billing Letter (not a bill)
• Sent mid-August
• Estimated charges and
financial aid
 Monthly statements will show
actual charges/credits
 Your student account
statement will be provided
online.
• Email when a new
statement is available.
©2001 Seattle Pacific University
STUDENT ACCOUNT STATEMENT
 People listed on the
FERPA form
• Duplicates sent by paper
• Can opt into e-statements
 Method of Payment
•
•
•
•
Online
Mail
Drop box
In person
©2001 Seattle Pacific University
ONLINE PAYMENT
 You can pay your student account by use
of e-check and credit/debit cards
 There is no fee for using e-check
 Credit/debit card payments will only be
accepted online.
• There is a 2.75% fee on the
transaction amount.
• Accepted cards: Master Card,
American Express and Discover.
 You must set up those who might pay
online as an “authorized payer”.
• More information available on the SFS
website: www.spu.edu/sfs
©2001 Seattle Pacific University
PAYMENT OPTIONS
 Option A: Payment in full due by:
• Fall Quarter: October 10th
• Winter Quarter: January 10th
• Spring Quarter: April 10th
 Option B: Combined Installment plans
• One time sign up for three quarters
• Follows three installment plan
• Application: $75 fee for the year
• Sign up by 8/15/2007
 Option C: Three Installment Plan
• Three monthly payments
• Application: $40 each quarter
©2001 Seattle Pacific University
WHAT IF I DON’T PAY IN FULL BY
THE DUE DATE?
 You cannot register for
the upcoming quarter
 You cannot receive an
official transcript
 A late fee will accrue on
the unpaid balance at
1.25% per month (15%
APR)
©2001 Seattle Pacific University
FINANCIAL PLANNING
WORKSHEET
 A tool to help figure out your costs.
 You may need to update &
recalculate for your specific costs
and financial aid.
 Uses full time tuition, fees, and
standard room & board
 Subtract aid
• Scholarships and grants
• Loans (minus loan fees)
• Excludes work study
 Difference is what will be paid by
family to SPU in full or through a
payment plan
©2001 Seattle Pacific University
DROPPING CLASSES
 Depending on when you drop, you may still
be responsible to pay for part of the class:
 1st week 100% refund
 2nd week 75% refund
 3rd week 50% refund
4th week 25% refund
5th week 25% refund
6th week 0% refund
 Dropping may impact your financial aid
 Check with Student Financial Services
BEFORE you drop to determine how your
aid might be affected
©2001 Seattle Pacific University
BANNER INFO SYSTEM & EMAIL
 Find out your:
• Financial aid award
• Owing balance on your student
account
• Outstanding requirements
• Financial aid history
 Check your SPU email account!
• Major method of communication;
all student are required to check
their e-mail
• E-mail Reminders:
• FAFSA filing dates
• Revisions to your offer of financial
assistance
©2001 Seattle Pacific University
UNIVERSITY CATALOG
 You can find important
information on:
Refund schedule and
policy
Financial aid
Satisfactory Academic
Progress
©2001 Seattle Pacific University
OFFER OF FINANCIAL
ASSISTANCE
 Type & amount of aid
 Additional requirements
 Subject to change with new
information
• Enrollment status
• Scholarships
• Verification documents
• All subsequent offers of
financial assistance and
revisions will be sent to
your SPU e-mail
©2001 Seattle Pacific University
ADDITIONAL REQUIREMENTS
 Must be met before aid can post to
your student account:
• Documents, as listed on the Offer of
Financial Assistance
• Enrollment for appropriate credit load
• Complete file by 8/15/07
• Once these requirements are met, your aid
will start posting onto your student account
beginning mid September
©2001 Seattle Pacific University
GRANTS AND SCHOLARSHIPS
 SPU Scholarships and
Grant funding will be
applied to the student
account automatically.
 Outside scholarships are
split to disburse evenly
over each quarter
• Your endorsement may
be needed.
 SPU Church Match
• Application deadline:
1st week of fall quarter
©2001 Seattle Pacific University
STAFFORD LOAN PROCESS
 Complete your requirements
• Lender Selection form
• Master Promissory Note
• Online www.spu.edu/sfs
• Loan Counseling Session
• Online www.spu.edu/sfs
 Most lenders send loan funds
electronically
 Loan origination fee may differ
from 0 to 3%
 Fixed interest rate of 6.8%
©2001 Seattle Pacific University
PERKINS LOAN
 Promissory Note and
Entrance Interview will be
mailed to you by early
August
 Complete and return both
forms to SFS
 Duplicate paperwork
available in SFS
 Subsequent disbursements
happen automatically if
requirements are met
©2001 Seattle Pacific University
SPU INSTITUTIONAL LOAN
 Promissory Note and
Entrance Interview will be
mailed to you by early
August
 Complete both and return to
SFS
 Awarded amount will differ
from disbursed amount by
5% due to loan fees
 Additional disbursements will
happen automatically if
requirements are met
©2001 Seattle Pacific University
ADDITIONAL FUNDING OPTIONS
 Parent PLUS Loans:
• Loans that parents borrow on your
behalf
• Interest rate locked at 8.5%
• Repayment begins 60 days
after full disbursement for the year
• Forbearance options may be
available
 Alternative Student Loans:
• Funding based on credit approval
• Variable interest rate
 For more information:
www.spu.edu/sfs
©2001 Seattle Pacific University
FALL FINANCIAL TIMELINE
 Provides information
about:
• Account statement
• Financial aid
• Payment due dates
 Future quarters will
follow the same
pattern
©2001 Seattle Pacific University
PERSONAL FINANCES & FINANCIAL
LITERACY
Money Management:
 Beware of credit card offers
 Create a budget and stick with it!
 Keep track of your indebtedness
Financial Literacy
 Invitation for all students to attend financial
information sessions:
Financial Roadmap---Autumn quarter
Credit Reports---Winter quarter
Identity Theft---Spring quarter
©2001 Seattle Pacific University
3 KEYS TO REMEMBER
Financial Aid
Requirements
Complete the Information
Access Authorization
(FERPA) online
Payment of your Student
Account
©2001 Seattle Pacific University
STUDENT EMPLOYMENT
 Why Work, You Ask?
• Earn money!
• Explore your career goals
• Build your résumé
 Why Work Study?
• Work Study Earnings
benefit you on the 08-09
FAFSA
• Nearly 1 in 5 State workstudy jobs leads to a
permanent position after
graduation
©2001 Seattle Pacific University
WORK STUDY
 Must be awarded WORK in your Offer of
Financial Assistance
 Earn up to the awarded amount (gross)
 You receive a paycheck
• Earnings are not posted to your student
account
 Earnings are taxable income
 On-campus and off-campus work study
opportunities
www.spu.edu/studentjobs
• Job Fair: Wednesday, September 26th
• Unused work study awards
may be redistributed to other students
starting in February
©2001 Seattle Pacific University
WORKING ON CAMPUS
 Find a job: www.spu.edu/studentjobs
 SPU Departments are work study eligible
except:
• Campus Ministries, Campus Dining, ASSP
 Complete paperwork in SFS
• Work referral
• W-4
• I-9 (Identification is required, such as
DL and SSN, Passport, etc.)
 Submit electronic time sheets
 Paycheck every other Wednesday
 3 1/3 weeks before first paycheck
©2001 Seattle Pacific University
WORKING OFF CAMPUS
 Community Service
• Work for a local non-profit organization
• Paid work study positions
 State Work Study (SWS)
• Work with approved off-campus
employers
• Jobs are more closely related to your
educational goals
• On average, higher wage
• Nearly 1 in 5 SWS positions leads to
permanent employment after
graduation
Note: Students with a declared major/minor in the
©2001 Seattle Pacific University
School of Theology are ineligible for SWS
SUMMER STATE WORK STUDY
Example of Current SWS Employers:
 Earn up to $8000 in work study
while working up to 40
hours/week during the summer
• Summer SWS is in addition
to academic year work
study awards
 Students do not need to be
enrolled summer quarter
 Employers are available
throughout the State of WA
and in other states
 Additional employers may be
added to the program
 Contact the Office of Student
Employment if interested
©2001 Seattle Pacific University
CONTACT US WITH QUESTIONS
 Student Financial Services
 Located in Demaray Hall (DH 10)
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(206) 281-2061
(800) 737-8826
FAX: (206) 281-2835
EMAIL:sfs_info@spu.edu
WEB: www.spu.edu/sfs
©2001 Seattle Pacific University