Who are we Financial Aid L ocated on the ground floor of Main Complete financial aid awards for incoming and returning students based on federal and state regulations Certifies student and parent loan ID: 802364
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Slide1
Financial Aid
and
Financial Services Orientation
Slide2Who are we?
Financial Aid
L
ocated
on the ground floor of
Main
Complete
financial aid awards for incoming and returning students based on federal and state
regulations
Certifies
student and parent loan
applications
O
ffers
financial
aid counseling
for
students
Slide3Who are we?
Financial Services (OFS)
L
ocated
on the first floor of
Main
Receive payments and answer questions on
Student Account Balance
Monthly
P
ayment Plan
W
ork Study
P
ayment
A
greement
Cash checks
Receive
NordiCash
deposits
Charge student account based
on information provided by other
offices
Who are we?
Who can answer questions about finances?
~Financial Services ~Financial Aid ~Student Employment
We work very closely on administering student finances
Your question may involve more than one office
In general
Financial Aid
: Questions about scholarships, grants, and loans
Financial Services
: Questions
about student accounts and payment
plans
Student Employment
: Questions
about work
study
Slide5my.luther.edu
Student Menu
Slide6l
uther.edu/financial-services/
home page
Slide7luther.edu/financial-services/
student information
Slide8Financial Services
financialservices.luther.edu
Forms,
Cost,
and Payment information
Frequently Asked Questions
Parent Portal
A
ccess is granted to parents or guardians using
my.luther.edu
(payments, statement of account) Gives permission for us to speak to your parents
Allows us to send Financial Statement E-mails to your parent
Slide9Financial Services
Monthly Payment
P
lans
(new one each year)
Work Study Payment Agreement
(new one each year)
Payment Due Dates
Aug 10
(fall) and
Jan 10 (spring)Debit/credit card & e-check available on my.luther.eduE-checks payments are
FREE2.5% fee for cardsYou will receive monthly emails to review your statement of account on
my.luther.edu and remit the balance dueLate charges assessed the 10th
Slide10Financial Services
1098-T’s & W-2’s
Consider choosing the electronic version
Do this on my.luther.edu
Why choose electronic?
parents will be able to access your tax
forms
you will get access to them at least a week before the paper copy
Slide11my.luther.edu
Student Menu
Slide12finaid.luther.edu
Slide13Financial Aid
Responsible for awarding and maintaining your financial assistance:
Review FAFSA and determine aid eligibility
Collect verification documents
Scholarships
Loans
Work-study
Special circumstances
Must file every year
Slide14Financial Aid
Scholarships
Academic
Must make satisfactory academic progress to keep
Endowed
Outside
Must be reported
Turn checks into Financial Aid Office
Slide15Financial Aid
Loans
Federal Loans
Master Promissory Note
Entrance Counseling
Exit Counseling
Private Loans
Financial Aid Office can assist you in determining amount
Start the application process early! Takes several weeks for the loan process.
Slide16Financial Aid
Work-Study
Collect employment forms
W-4 and I-9
Process payroll (time cards/webtime entry)
Don’t forget to turn in your Direct Deposit Form
This is a REAL job
Taxable Income
Check website for job openings
Returning Students – secure job for next year
Slide17finaid.luther.edu
All Payroll Dates are located at
https://www.luther.edu/work-study/process
/
at the bottom of the page
Slide18Financial Aid
FSA User ID
Is used on all Department of Ed websites
Satisfactory Academic Progress (SAP)
Must make academic progress to maintain aid eligibility
For more information see Consumer Information page on our website
Remember – Must complete FAFSA each year
Most financial aid awards do have maximum cumulative limits
Slide19Financial Services & Financial Aid
FERPA (Family Educational Rights & Privacy Act)
Avoid Registration Holds
Emails are sent to STUDENTS, not parents
If you need help with understanding the emails, contact the office that sent the email
We are here to help!
Email addresses
finaid@luther.edu
finserv@luther.edu
stuwork@luther.edu
Slide20Financial Services & Financial Aid
All information presented today is available on our websites, including this presentation
Today’s To-do list
Go to my.luther.edu
Review my documents
Review Statement of Account
Grant Parent Rights to Portal (if applicable)
Be sure to contact us with any questions!