Money Matters
Financial Aid
Service EMU
Student Business Services
What Will We Cover Today?
• Cost of Attendance
• Understanding the EMU Award Letter
• Calculating Costs
• Understanding the Bill
• Paying the Bill
• Eagle OneCard
• Next Steps
Cost of Attendance
DIRECT COSTS
(student bill)
Tuition and Fees
INDIRECT COSTS
(not billed)
Books and Supplies
Transportation Costs
Room and Meal Plan
Personal Expenses
Understanding the EMU Award Letter
Understanding the EMU Award Letter
ESTIMATED Direct Costs
• Tuition and Fees
 EMU charges per credit hour
• Room and Meal Plan
Understanding the EMU Award Letter
Scholarships and Grants (Gift Aid)

Gift Aid does not have to be repaid
Estimated Remaining Balance (EMU bill)
Understanding the EMU Award Letter
Federal Loan Eligibility (Must be Repaid)
• Student Federal Direct Loans (Subsidized and
Unsubsidized)
• Parent (Direct PLUS) Loan
Calculating Costs
•
Personalize your estimated direct costs
with the EMU Financial Planning Guide
•
If financial aid exceeds costs, your
student may be eligible for a refund
•
If the estimated costs are more than
financial aid, the student will owe the
balance
•
Federal Work Study is not included
Pencil in estimated
EMU Charges
Fill in from Award Letter
(only include loans you
plan to accept)
Is the bill covered?
Balance - Now What?
Payment Plan
Pay Balance in Lump Sum
$35 fee (per semester)
4 payments (due Aug, Sept, Oct, Nov)
Sign-up via eBill
Pay online or in-person
Due in full August 26, 2016
How will we cover
the balance?
Parent PLUS Loan
Apply at www.studentloans.gov
Requires credit approval
Loan in parent name
If not approved, unsubsidized option for student
Private Student Loan
Requires credit approval
May require co-signer
Loan in student name
Understanding the Bill
www.emich-drv.com/Ebill/
Financial Aid Requirements
Has your
student
completed all of
their
Outstanding
Financial Aid
Requirements?
YES
NO
Aid will be
reflected on
the first bill and
will be
disbursed the
week before
classes.
Aid is not
reflected on the
first bill –
something still
needs to be
completed with
their financial
aid.
Contact us!
Paying the Bill – How to Pay
Electronic Payment
In-Person
Ebill.emich.edu
201 Pierce Hall or Service EMU
Check or Money Order
Cash (only at Pierce Hall)
Payment
Methods
By Mail
Student Business Services
201 Pierce Hall
Ypsilanti, MI 48197
Credit Card
Discover
MasterCard
American Express
(no Visa)
Eagle OneCard
The Eagle OneCard is:
•
•
•
•
The Official University ID Card
Not a credit card
ATM card
The card that gives access to student privileges (library, room
access, meal plan access, entry to athletic events, etc)
• Used to set up refund preferences as well as student payroll
Eagle OneCard
The Eagle OneCard will be mailed to
your home address from Rhode Island
•Students “Activate” card and indicate their refund preference
Open a “One Account”- an online checking/debit account with Higher
One and have refund put on their card. Money is accessed through
card or ATM
or
Have funds ACH transferred to a personal bank account
Next Steps/To-Do List
To Do Today
 Submit FERPA & Authorization to Pay forms
 Sign up for Family and Student mobile text clubs
Text: family2016 or eagle2016 to 467467
Review Financial Aid Award Letter
 Determine estimated costs using the EMU Financial Planning Guide
Eagle OneCard
Will arrive at your house in approximately 5-10 business days
 Students go online and “Activate” card to select refund preference
www.EMUEagleOne.com
By July 1
Your Student Should:
 Log into my.emich.edu to accept awards
 Add you as authorized user on ebill.emich.edu
 Review and submit any requested documents
 Complete loan requirements at www.studentloans.gov
 Complete Parent/PLUS or private loan applications online
 Have final official high school transcripts sent from HS (with
graduation date)
In August
 Review E-Bill at ebill.emich.edu
 Sign up for Payment Plan OR
pay bill in full (due late August)
In October
 Complete 2017-2018 Free Application for Federal Student
Aid at fafsa.gov (Using 2015 tax information, preferably IRS
Data Retrieval Tool) www.fafsa.gov
Service EMU
240 McKenny Hall
268 Student Center
Contact Us
Financial Aid Mailing Address
403 Pierce Hall
financial_aid@emich.edu
734.487.0455
@EMUFinancialAid
Student Business Services
201 Pierce Hall
ebill@emich.edu
eagleonecard@emich.edu
734.487.3335