Financial Aid :
Survival Basics
La Cheryl Lewis, MPA
Advisor II
Who actually
understands this
stuff????
Credit : http://www.buddytv.com/articles/glee/glee-13-most-evil-sue-sylveste-37093.aspx
FAFSA
www.fafsa.ed.gov
2011-2012
1.
2.
3.
4.
Complete your FAFSA
FAFSA processed
Application received by University
Award letter or verification?
CougarNet
• www.siue.edu/COUGARNET
• Web access to your personal
records!
• Check the status of your
application for admission
• Check on the availability of
classes
• View your bill and find out how
much you owe
• View financial aid documents
requested/received
• View and print Award Statement
• Check on your financial aid
awards
• Update your local, billing, and
email addresses
• AND SO MUCH MORE!
• Log On Often!!
What is verification, and was I
selected?
Why do I have to be verified?
 What is the Selective Service
requirement?
How do I know I am verified?
 How long will it take to get
out of this process?
Verification:
1. Go to Cougarnet at http://www.siue.edu/COUGARNET
2. Click “Enter Cougarnet with your e-ID” (1st option) or
“Enter Cougarnet with your University ID” (2nd option)
3. Click “Financial Aid” (3rd option) or (3rd tab)
4. Click “Eligibility” (2nd option)
5. Click “Student Requirements” (1st tab)
6. Current Academic Year Requirements will appear
7. “Established” means the document must be turned in to our office
IMMEDIATELY!
8. If you wish to view a year different from the current year, click on
“Select Another Year” at the bottom of the screen
I have my award letter, now what?
Your Award Letter
$ Cost of Attendance/Budget
$ EFC ( Expected Family
Contribution Number)
$ Types of Aid
Student’s Cost of Attendance/
Budget does not equal actual costs





Tuition and Fees
Room and Board
Personal Expenses
Books and Supplies
Transportation
What is an EFC?
Expected Family Contribution number is
used to determine how much, if any, need
based/gift aid a student can receive
Examples of Need Based Aid
• Grants ( Pell, MAP, SEOG, etc.)
• Federal Student Employment
• Scholarships
• Subsidized Loan
Types of Loans
• Stafford Loans
• Federal Plus Loans
• Alternative Loans
Loans are considered financial aid, and ALL
loans must be repaid.
There are two types of Stafford
(Student) Loans
1. Subsidized
2. Unsubsidized
Subsidized Loan
1.
2.
3.
4.
Need based aid
Deferred payment
Government pays the interest, per policy
3.4% Interest rate ( Fixed)
Unsubsidized Loan
1. Offered to all students (based on
federal policy)
2. Interest accrues, but can be
deferred
3. Deferred principal payment
4. 6.8% Interest rate (Fixed)
Federal (Parent) Plus Loan
• Loan is in the parent’s name
• Based on credit merit
• Approved: 7.9% fixed w/deferred
payment option
• Denied: Offer student additional
$4,000 in unsubsidized loan
• Must complete a FAFSA
Alternative Loans
•Loans are in the student’s name
•Based on credit merit
•Loans are deferred until student graduates
•Interest is variable, same as funding
education on a credit card
Three Steps to Receiving your
Direct Stafford Loans
1. Accept award letter on CougarNet
2. Complete a Master Promissory Note
(MPN) with Direct Loans
3. Complete Entrance Loan Counseling
1. Go to Cougarnet at http://www.siue.edu/COUGARNET
2. Click “Enter Cougarnet with your e-ID” (1st option) or
“Enter Cougarnet with your University ID” (2nd option)
3. Click “Financial Aid” (3rd option) or (3rd tab)
4. Click “Award” (3rd option)
5. Click “Award for Aid Year” (1st option)
6. Click Drop-down menu
7. Select correct aid year; Click “Submit”
8. Click “Accept Award Offer” (5th tab)
9. Accept and/or decline items listed
10. Click “Submit Decision”
1. Go to Direct Loans’ website www.studentloans.gov;
2. In the box “Manage My Direct Loan,” click on green
“Sign In” bar;
3. Complete the Sign In screen and click on “Sign In;”
4. In the menu on the left, under the 3rd bullet “Master
Promissory Note,” click on “Complete MPN;”
5. Click on the “Subsidized/Unsubsidized.”
You will need your four (4) digit
pin from your FAFSA
Go to Direct Loans’ website, www.studentloans.gov
In the box “ Manage My Direct Loan,” Click on green “Sign In bar;
Complete the Sign In screen and click on “Sign In”
In the menu on the left, under the 4th bullet “Counseling” click on
“Complete Entrance Counseling”
5. Click on the “Complete Entrance Counseling”
6. Under “Counseling Type” click the appropriate radio button
for your status and then click “Continue”
1.
2.
3.
4.
You will need your four (4) digit
pin from your FAFSA
1. Accept loan on your award letter on CougarNet
2. (Parent) Sign a Master Promissory Note for the
Federal Plus Loan (www.studentloans.gov)
3. Complete paper Plus application (send to us)
www.siue.edu/financialaid
* Student MUST complete a FAFSA
.
Parent, you will need your four (4) digit pin
from the FAFSA
Go to Direct Loans’ website, www.studentloans.gov
In the box “ Manage My Direct Loan,” Click on green “Sign In bar
Complete the Sign In screen and click on “Sign In”
In the menu on the left, under the 3rd bullet “Master Promissory
Note” click on “Complete MPN”
5. Click on the “Parent PLUS”
6. The parent must agree on the promissory note for the Department
of Education to run a credit check or the school will not receive the
application.
1.
2.
3.
4.
Parent, you will need your four (4)
digit pin from the FAFSA
Privacy
We are dedicated to the protection of our
student’s privacy and identity; therefore,
only certain information can be obtained
from our office without the student being
present and having proper identification. No
information will be given without the
student’s identification number
We are here for you!
•At the end of day one, we will have one-on-one
advising upstairs in MUC (4:30 p.m.-6:00 p.m.)
• Day two: Upstairs in the MUC (1:00 p.m.-4:00
p.m.)
•Will be financial aid advisors to sit with students
and parents; students MUST be present with
parents if Authorization Form is not completed.
•Do not go to the financial aid office. All advisors
are here.
Reminders
•A FAFSA must be completed every year
•There are no paper award letters given
•CougarNet and Cougar Webmail are the
mediums with which we communicate with our
students
• Check CougarNet at least once a week to view
any change in award or to submit any missing
requirements
Important Contact Information
Office of Student Financial Aid
2308 Rendleman Hall
Edwardsville, Illinois 62026
618-650-3880
618-650-3885 (fax)
www.siue.edu/financialaid
finaid@siue.edu (email address)
Money Matters
Bursar’s Office
2011
Springboard to Success
Office of the Bursar
What is a Bursar?
A Bursar is a treasurer or business officer of a college or university.
Where are we located?
Main Office – Room 1101 Rendleman Hall
Satellite – within the Service Center, Room 1309 Rendleman Hall
How can you reach us?
Email – bursar@siue.edu
Website – www.siue.edu/bursar
Phone – 618-650-3123
What is Cougarnet?
(www.siue.edu/cougarnet)
Cougarnet is where you will find:
•Billing information, account balance, installment
amounts due
•Personal information (phone, address)
•Financial aid information
•Grades and academic record information
VIEW YOUR COUGARNET ACCOUNT OFTEN!
Student’s Financial Responsibility
•Each semester students must accept an online agreement
entitled, “Student Responsibility for Payment of
Educational Services at Southern Illinois University.” This
agreement details the financial responsibility that students
assume upon registration.
•On COUGARNET, the agreement is under “Student” and
“Registration”
•This agreement MUST be accepted before registering.
•Students are not relieved of their financial responsibility
unless they officially withdraw from classes within the
published deadlines for refunding of tuition and fees.
Family Educational Rights & Privacy Act
FERPA
•Protects student educational records such as academic progress and
financial data
•Students “own” their educational records and such data may not be
disclosed without the student’s consent
•This includes parents!
•Authorization form provides consent
•For Billing and Financial Aid Information
•Notarized signature of student or witnessed by Bursar’s Office
employee (must use SIUe form that can be downloaded from the
Bursar website)
•Password protected*
•Form available in student packet
*Please note, the password assigned on the Authorization form is used to verify the 3 rd party’s identity to discuss matters over
the phone or through email. This password is separate from the eBill login password.
How do I get my bill?
SIUe sends an “eBill”, or an email notification that:
1. Tells you the payment due date
2. Prompts you to view updated bill at
www.siue.edu/paymybill or on CougarNet
Students can authorize parents or other third parties
to receive the same ebill notification
•
•
Authorization instructions included in your student
packet
Tip – for your convenience, make this password a
simple one to remember.
Financial Clearance
•Students are financially cleared once they have paid their charges in full
or have paid their first installment payment.
•All charges from a previous semester must be paid in full to be financially
cleared.
•Access to University services including classroom attendance,
Blackboard, housing, meal plan, library, computer labs, fitness center and
Student Job Finder are provided to students once they are financially
cleared for the semester.
•How does Financial Aid affect my bill and financial clearance?
•Financial aid pays current semester charges first
•Unless Financial Aid covers entire balance, a payment will be required by the first
installment due date
How do I make my payment?
•Cash – In person only
•Paper Check - In person, by mail, or night drop
If paying by mail,
•Please allow sufficient time to meet payment due date. We suggest that
you mail your payment at least 7 days in advance.
•Please write the student’s ID number (begins with 800…) on check
•Pay your bill online at www.siue.edu/paymybill - Online payments must be
completed before 4:30pm CST on the payment due date
•Pay by ACH (eCheck) by entering you bank routing and account number (no
service fee) – do not use “bill pay” from your bank unless you allow ten days before due date
•Pay by Credit Card (MasterCard, Discover, American Express)
•A service fee of 2.75% will be added to the payment amount
•Credit cards are NOT accepted in person at the Bursar’s Office
Installment Payment Plan
•Automatic enrollment if student account is not paid in full by
first day of classes
•$20 charge per semester
•Pay in 4 installments (3 in Summer)
•Installments are calculated AFTER applicable Financial Aid
•If first installment payment is late or missed, the
student’s registration will be cancelled.
•If any other installment payments are late or missed, the
student’s registration will not be cancelled; however, a 1.5%
service charge will be added to the student’s balance
Fall Billing & Payment Schedule
Bill Date
July 16
September 10
October 01
October 21
Due Date
August 12
September 30
October 21
November 11
Remember, if the first installment is not received in our office by August 12th,
the student’s registration will be cancelled.
www.siue.edu/paymybill
Student
Login
Students:
Third
Party
Login
Enter your eID (the first half of your SIUE email address (ie jsmith)
and password.
Third Party: Enter your User Name (assigned by your student) and
password (you chose when you registered).
Your Account
Account Balance
Installment Amount Due
$3,419.66
$874.92
Summary of
balance & amount
due.
For account
detail, click
here.
View your student account detail
(turn off pop-up blocker (see Help-MISC on how to))
View Payment Due Date
Click here to make a payment
(Credit balances are not displayed)
Click here to signup for Springboard to Sucess
(First-time Freshman Only )
The last payment received was for $0.00 on x/x/20xx.
Students, authorize parent or 3rd party here:
Parent PINs
Add New
You currently do not have any Third Party Users
set up.
Click here
201135 Fall 2011 Term Detail
Detail Code
Description
Item Date
Charge Payment
FATH
Athletic Fee
9-Jul-11
$117.50
FCEN
Engineering Course Fee
9-Jul-11
$20.00
FFCM
Facilities Maintenance Fee
9-Jul-11
$189.00
FFIT
Fitness Center Fee
9-Jul-11
$69.30
FMUC
Univeristy Center Fee
9-Jul-11
$148.90
FSAS
Student Acad. Success Ctr Fee
9-Jul-11
$63.00
FSTS
Student To Student Grant
9-Jul-11
$6.00
FSWA
Student Welfare Activity Fee
9-Jul-11
$91.00
FTEC
Information Technology Fee
9-Jul-11
$75.00
FTXR
Textbook Rental Fee
9-Jul-11
$123.00
TUR
HWLH
MLAB
CHAF
HADV
Tui (UG) Resident
Woodland Hall
Meal Plan A or B
Housing CHAF
Housing Advance Payment
9-Jul-11
9-Jul-11
9-Jul-11
9-Jul-11
9-Jul-11
$2,216.46
$2,345.00
$1,890.00
$15.50
Net Term Balance
Net Balance for Other Terms:
Balance
$200.00
$7,169.66
$0.00
Account Balance:
$7,169.66
Current Amount Due as of July 16, 2011 (today's date):
$7,169.66
Detail of Authorized Financial Aid (awaiting disbursement) on your account is shown in this
section below. Your payment for the "Current Due Net of Authorized Financial Aid" amount
below must be received and applied to your account by the payment due date published at the
Bursar's website, Payment Deadline, and included in your latest eBilling email.
Authorized Financial Aid as of July 16, 2011
Detail Code
4PEL
Expected Payment
Description
Federal Pell Grant
Balance
$1,000.00
Authorized Financial Aid Balance:
Account Balance net of Authorized Financial Aid:
Current Due net of Authorized Financial Aid:
-$1,000.00
$6,169.66
$6,169.66
Memos as of July 16, 2011
5FSL
FFELP Subsidized Loan
$2,750.00
Memo'd Financial Aid Balance:
-$2,750.00
Account Balance net of Authorized FinancialAid and Memos:
Current Due net of Authorized Financial Aid and Memos:
$3,419.66
$3,419.66
Bill date is date installment amount is billed. Click here for Payment DeadLine.
201135 Fall 2011 Installment Plan
BILL date, NOT due date. Click
above for deadline dates.
Fall 2011 Installment Plan:
$3,419.66
Detail Code
Description
BILL Date
IPPA
Installment Amount
16-Jul-11
$854.92
IPPF
Installment Plan Fee
16-Jul-11
$20.00
IPPA
Installment Amount
10-Sep-11
$854.92
IPPA
Installment Amount
1-Oct-11
$854.92
IPPA
Installment Amount
22-Oct-11
$854.90
TOTAL:
Amount
To pay in
full, pay
this
amount
$3,439.66
Installment Amount Due as of July 16, 2011 (today's date):
This is the date you are
viewing the bill
$874.92
To pay in
installments,
pay this
amount
Please ask for
assistance.
We’re here to help!
Thank you for choosing