Financial Aid Newsletter
W I N T E R
SPECIAL
POINTS OF
Work-study positions are still
available. Check
January 1 is just around the corner, which means it is almost
time to file your Free Application
for Federal Student Aid (FAFSA)
for the 2013-2014 school year.
Please be aware that the priority
deadline for filing in Indiana is
March 10th. Students living in
Indiana must file their FAFSA on
or before March 10th to be considered for State aid.
them out on
www.rosehulman.edu

2 0 1 2
FAFSA Filing AGAIN
INTEREST:

T E R M
Office Hours
Monday—Friday
8:00 am—5:00pm
INSIDE THIS
ISSUE:
How Your
Need is Determined?
2
Financial Aid
and Coursework
2
FAQs
2
Award Notifications
3
Subsidized
Stafford Loan
Changes
3
Graduate Loan
Changes
3
Scholarship
4
Math Problem
4
When completing the FAFSA,
you will use your 2012 federal
tax return. If you have not completed your federal taxes before
filing the FAFSA, you can still
submit your application using
best estimates. After your taxes
have been completed, you
should correct any income or
tax information that is different
from what you initially submitted
on your FAFSA.
IRS Data Retrieval Tool
Beginning February 3, students
are HIGHLY recommended to
use the IRS Data Retrieval tool
when they file the 2013-2014
FAFSA to directly import their
(and their parents’) 2012 federal
tax data directly from the IRS
onto the FAFSA. If a student (or
parent) has recently filed the
2012 federal tax return, the data
from the tax return will be available to import onto the FAFSA
within 1 to 2 weeks if the 2012
federal tax return was filed electronically, or within 6 to 8 weeks
if a paper tax return was filed.
Data Retrieval tool and did not
change any of the data that was
transferred from the IRS to the
FAFSA, then the student will not
be required to submit signed
copies of the 2012 federal tax
transcript or W2’s to the Office
of Financial Aid if selected for
verification. The student who is
selected for verification will only
be required to submit the 20132014 Verification Worksheet to
the office.
RHIT School Code:
001830
In addition, use of the IRS Data
Retrieval tool may simplify the
verification process. If the student (or parent) utilized the IRS
Renewal FAFSA for Continuing Students
In preparation for the 2013-2014
Renewal Reminder distribution,
we are reminding all students to
update the 2012-2013 FAFSA
with their most current e-mail
address by January 8, 2013.
Applicants who meet the eligibility requirements for the 20132014 renewal FAFSA by January
8, 2013 will be sent a Renewal
Reminder e-mail between January
13 and February 10, 2013.
For easier processing, make sure
you use the Data Retrieval Process when filling out your 20132014 FAFSA.
We want to keep you
informed. The Financial
Aid Office will be producing a newsletter.
PAGE
2
How Your Need is Determined
The financial information you
and your family provide on
your FAFSA is analyzed by the
federal need analysis processor
using “Federal Methodology,” a
standard formula established
by the US Congress. It is used
by the federal processor to
calculate the expected family
contribution (EFC) - how
much individual students and
their families are expected to
contribute toward their educational expenses each year.
After analyzing your financial
information, the federal processor sends the results to the
college, indicating how much
you and your family should be
able to contribute toward your
education. If the cost of attendance at RHIT is greater
than what the processor indicates your family is expected
to contribute, then the college
considers you to have financial
need.
Cost of Attendance includes
tuition/fees, books and supplies, housing, food, miscellane-
ous expenses and laptop
(freshmen only).
Expected Family Contribution (EFC) consists of expected parental contribution
and/or student contribution,
depending upon the student’s
classification (dependent or
independent). The methodology used by the federal processor takes into account the
family’s income and assets,
employment, cost of living
expenses, taxes, family size and
the number of family members
Financial Aid and Coursework that Does Not Apply to Degree
Obstacles are
those things you
see when you take
your eyes off the
goal!
Both Federal and State regulations stipulate that students
cannot be awarded financial aid
for course work that is not
applicable to the student’s
current degree program. For
example: if a student is enrolled in a total of 12 credit
hours for a term and 6 of
those credit
hours are not applicable to the
student’s degree program, the
student will only be eligible to
receive financial aid for the six
hours of courses that are applicable to the student’s degree
program. There is an exception to the rule. The students
can enroll in courses that do
not apply to their degree program if they are already enrolled in 12 credit hours that
do apply to his/her degree
program. If you are unsure if a
course does or does not apply
to your degree program, you
should review your program
requirements with your academic advisor.
FAQs
Do I have to file a FAFSA
if I only want my Merit
Scholarship? No, you do
not need to file a FAFSA if
you just have Merit Scholarship money. If you decide to
apply for a Stafford or Parent
PLUS loan, you will need to
file the FAFSA due to federal
regulations.
FINANCIAL
AID
NEWSLE TTER
If I graduate early, go on
co-op, or Study Abroad;
what happens to my financial aid? If you are away from
Rose-Hulman during a particular term, your financial aid for
that term(s) is dropped. Unfortunately, we can’t divide it
between the terms you are
here. If you are graduating
early, the Financial Aid Office
might be able to get you a little
more Stafford loan money. If
you are interested in more
Stafford loan money, please
stop by the Office of Financial
Aid to see if you would be
eligible.
PAGE
Award Notifications
The upperclassmen award notifications will
be mailed to students mid-May. In preparation of the notification, we ask that all
FAFSA data be provided before May 1. If
you are from Indiana and would like to be
considered for state aid, you must have
your FAFSA submitted before March 10th
of each year.
If you have any questions, please contact the Office of Financial Aid.
It isn’t where
you come
Subsidy Stafford Loan Changes
Direct Subsidized Loans are not
eligible for an interest subsidy during the six-month grace period.
Subsidized loans are loans for which
the borrower is not responsible for
the interest while the student is
enrolled in college on at least a halftime basis, when the loan is in the
six-month grace period after the
student is no longer enrolled at
least half-time, or if the loan is in a
deferment status. The provision
eliminates the interest subsidy provided during the six-month grace
period for subsidized loans for
which the first disbursement is
made on or after July 1, 2012 and
before July 1, 2014. If you receive a
subsidized loan during this
timeframe, you are responsible for
the interest that accrues while your
loan is in the grace period. You do
not have to make payments during
the grace period (unless you
choose to), but the interest will be
capitalized (added to the principal
amount of your loan) when the
grace period ends.
This provision does not eliminate
the interest subsidy while the borrower is in school.
If you have any questions regarding
these changes in the Stafford Loan,
please contact the FAO.
Loan Changes for Graduate Students!!
Beginning July 1, 2012 for loans
disbursed for the 2012-2013 academic year, subsidized loan eligibility has been eliminated for graduate and professional students.
Graduate students will only have
eligibility for an Unsubsidized Stafford Loan.
Under the new law, students seeking advanced degrees will start to
owe interest immediately on new
loans issued after this date during
periods in which they are enrolled.
Students will continue to
have the option to defer payments
until they finish their degree or fall
below a half-time enrollment status.
This action will not impact current
students unless they take out additional loans for the next academic
year.
This change does not
impact the amount of loans that a
graduate student is eligible for during an academic year. However it
will be provided in the form of an
Unsubsidized Stafford Loan opportunity.
from, it’s
where you’re
going that
counts
3
Financial Aid Staff:
Melinda Middleton
Director of Financial Aid
middleto@rose-hulman.edu
Luann Hastings
Assistant Director of Financial Aid
hastings@rose-hulman.edu
Jon Keeney
Assistant Director of Financial Aid
keeney@rose-hulman.edu
Jill Mishler
Secretary of Financial Aid
mishler@rose-hulman.edu
Rose-Hulman Institute of Technology
5500 Wabash Ave. CM 5
Terre Haute, IN 47803
New Outside Scholarship
Opportunity:
Abbott and Fenner Scholarship
Deadline: June 14, 2013
500—1000 word essay
www.abbottandfenner.com/
Phone: 812-877-8672
Fax: 812-877-8838
scholarship
FinAID…. Math Problem
With each Winter and Spring RHIT Financial Aid Newsletter there will be a challenge. The first 10 undergraduate students that correctly answer the challenge question will win a $50.00 scholarship. You will need to email the answer to Melinda Middleton at middleto@rose-hulman.edu. Winners will be notified by email.
BAILEY CHALLENGE
How many different combinations of pennies, nickels and dimes are there such that their sum is 25 cents?
Challenge was written by Professor Emeritus Herb Bailey