Money Matters: Financial

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Aid . Process. University Scholarships & Financial Aid Services (USFAS. ). Agenda. Applying for Financial . Aid. Online Services. Deferments & Bookstore Advance Purchase Program. How . Enrollment Decisions Affect Financial . ID: 713407 Download Presentation

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Money Matters: Financial

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Presentations text content in Money Matters: Financial


Money Matters: Financial Aid Process

University Scholarships & Financial Aid Services (USFAS




Applying for Financial


Online Services

Deferments & Bookstore Advance Purchase Program


Enrollment Decisions Affect Financial


Satisfactory Academic Progress



Next Steps


Applying For Financial Aid



Do We Have Your Free Application for Federal

Student Aid (FAFSA



do you start at USF?


this FAFSA:

Summer 20152014-2015 & 2015-2016Fall 20152015-2016

Apply at www.fafsa.govIf you filed a FAFSA at your prior school, add our school code to your FAFSA: 001537

Which FAFSA is needed?



Online Services Available

For Students




Online Access Student Information System

(OASIS) Answers questions about your financial aid 24/7!


You Can Use OASIS To:

Check for unsatisfied requirements

Check for deferments

Check Satisfactory Academic Progress (SAP)

View and accept financial aid awards


Financial Aid Main Menu



Understand the Terms and Conditions

What are they?

Requirements you


meet in order to remain eligible for financial aid

Why do you need to know this?

Before grant, loan or work study funds can

be paid, you are required to READ and ACCEPT the Terms & Conditions in OASIS every yearDoes this apply to my scholarship(s)? Certain scholarship awards have separate terms and conditions which must also be accepted before these funds can be paid10


How Do I Accept the Terms & Conditions in



to ‘My Award & Loan Information’


the ‘Terms &

Conditions’ tab



Report Funds From Other Sources

Will you be receiving money from another source?

Notify us immediately by going to the ‘My Award & Loan Information’ link in OASIS

Click ‘Resources/Additional Information’ tab

Enter the fund name and amount

Why should I report this?

Financial aid

may be reduced if you receive aid that is not listed on your award noticeBright Futures and Florida Pre-Paid do not have to be reported



Use Our Cost Calculator to Help Budget Your Costs!

What is


Cost Calculator?

Estimates your bill before payments are due

Why should I use the Cost Calculator?

The Cashier’s Office does not send bills

How much will my bill be?Online version: Go to Under ‘Get Started’, click on the ‘Cost Calculators’ linkDo I have to do all the math?Nope! Just enter all of your costs and let the calculator do the rest!


Understanding & Paying Your B



When is tuition due? At the end of the

fifth day of classes

each term for all students

When will financial aid be paid?

Financial aid is paid on the

sixth day of classes

after enrollment is confirmed

What happens if I do not pay on time? Your enrollment will be cancelled unless you have a tuition deferment Reinstatement into classes after cancellation requires tuition and late fees to be paid in full by you. Financial aid cannot be used unless you are enrolled in classesHow Your Bill Is Paid


The amount of my financial aid is more than my bill.If there are excess funds remaining, funds will be refunded to you during the second week of classes by:

E-Deposit: Sign up through OASIS

Net Check: Mailed to

the local address on file in OASIS

I don’t have enough financial aid to cover my whole bill.

If there is a remaining balance, until it is paid, holds will be placed on the your account which will prevent:

Future registration

Receipt of TranscriptsReceipt of DegreePaying Your Bill Using Financial Aid


Tuition & Fee Deferments


What Is A Tuition Deferment?

A tuition

deferment prevents cancellation of registration for non-payment of fees, and temporarily prevents assessment of late payment


Tuition not paid by the deferment payment date will be assessed a late payment fee and have a cash collection hold placed on the student account by the

University Controller’s Office (UCO)


TermTuition Payment Date

Deferment Payment DateSummer A/CMay 15th July 17th Summer BJuly 6th July 17th Fall August 28th October 23rd


How Do I Receive

a Tuition Deferment?

Automatically posted on OASIS if


Have scholarships

(including Bright Futures) listed on your OASIS account


Have a FAFSA on file at USF 10 business days before classes begin;Are enrolled in at least 6 undergraduate USF credit hours; andAre meeting Satisfactory Academic Progress (SAP) requirementsCheck OASIS before classes begin each semester!


Bookstore Advance

Purchase Program (




The Basics of BAPP

What is the BAPP?

Allows eligible students to purchase textbooks & supplies (at a USF campus bookstore)


to the first day of classes

using financial aid

before it is

paid. The amount you spend posts as a charge to your USF student account. After your financial aid is paid, it will be applied to the charge How do students qualify for BAPP?Be enrolled at least half-time (6 credits) in USF hours; andHave financial aid that is at least $100 (maximum $600 for fall and spring, $300 for summer) more than the billWhere do students see if they qualify?Check ‘My Requirements, Deferments and Bookstore Authorizations’ in

OASISWe will also email you if you qualifyWhat if students don’t use the BAPP?No bookstore charge will appear on the student’s account and the student will receive the “unspent” BAPP as part of their refund


Understanding How Enrollment Decisions Affect Your Financial Aid


Dropping courses:Repaying Bright Futures for dropped coursesIncreases the number of attempted credit hours


credit hours:

Paying excess hours


for credit hours attempted over 132

Reaching the 120 credit hour limit on Bright FuturesRepeated courses:Repeat course surcharges if the same course is taken for a third timeSome financial aid programs will not fund courses that are repeatedStudents must pay attention to the Terms & Conditions they accepted in OASIS to keep each type of aid program!

Impact of Enrollment Decisions23


Did you know that….

every semester a student extends their enrollment, they will be adding about


to the cost of their degree?

…if a student withdraws from one 3 hour course each semester, they will have to enroll for at least one more year at a cost of


?…in addition to the cost of the degree, the student will lose estimated wages of $48,707 per year (median income for 2014 college graduates per the National Association of Colleges and Employers)?…if a student complete two-thirds or less of the courses attempted, it will take two additional years to graduate and two years of lost wages?  The price tag:  $139,414!Make sure you understand

the financial implications before dropping a class!


SAP is a Federal regulation—Some aid programs cannot be paid if students are not meeting SAP


What are the requirements?

Maximum Time Frame:


a bachelor’s degree in less than 180 hours attempted over


entire college career (including courses from other schools)GPA: having a 2.0 USF GPA by the time the student is in junior standing Completion Percent: Completion Percent: earn 67% of all attempted credit hours (including courses from other schools)SAP is calculated at the end of every semester—Students should check their SAP status in OASIS regularlyRead the policy on our website

Satisfactory Academic Progress (SAP) Must Be Met Each Semester!25


Benefits of the program:


based program—students teaching students with staff guidance

All services are

free and confidential

for students

One-on-one meetings

Group seminarsServices we can provide:USFAS/Student Success initiative designed to help students learn:Basic financial planning, including budgeting How to borrow wisely How to identify needs vs. wantsHow to establish short-term & long-term financial goalsLocation: SVC 2054


Your Next Steps…

Read all emails sent by



emails are sent to

the USF


addressFAFSA: Complete the 2014-2015 FAFSA for summer & 2015-2016 FAFSA for fallOASIS: Complete any unsatisfied financial aid requirements in OASISTerms & Conditions: Read and accept in OASIS; also accept awardsAccept Award Offers: Loans and Work Study require acceptance



Loans: Complete

the online Master Promissory Note & online Entrance Counseling if loans are accepted at




is on

our website ( andPay: Pay the bill on time!28Your Next Steps…


Visit SVC




About Financial Aid Awards

About Submitting/Completing Required Forms


Remember, due to

FERPA (Privacy Act)

laws, we can only answer general questions if you call our office29



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