Financial Aid 2019 2020 Our Staff Tammy Sommerhalder Tracey - - PowerPoint PPT Presentation

Financial Aid 2019 – 2020

Mason White Director Deb Pugh Assistant Director Richie Kincaid Financial Aid Counselor Tammy Sommerhalder Accounting Clerk III Tracey Winkelhake Accounting Clerk III

Our Staff

To Ap Apply f for r Ai Aid:

• Submit 19/20 FAFSA online at www.studentaid.ed.gov
• based on 2017 tax information
• Submit 20/21 FAFSA starting October 1, 2019
• based on 2018 tax information

Ex Expected Family Contri ribution

• After completion of the FAFSA, the federal processors calculate the

Expected Family Contribution (EFC).

• Schools use this number to determine your aid eligibility.

Grants

• Pell Grant: Need based federal grant, lifetime eligibility of 6 years full-time
• FSEOG Grant: Need based federal grant, very limited funds available
• Nebraska Opportunity Grant (NOG): Nebraska resident, EFC requirement

Refer to page 10

Loans - Sta taff fford

• Federal Direct Subsidized Stafford Loan-Awarded based on financial

need, interest is paid by the federal government while student is enrolled at least half-time.

• Interest rate for loans disbursed on or after July 1, 2019 is 4.529% fixed.

Refer to page 10

Loans - Sta taff fford

• Federal Direct Unsubsidized Stafford Loan-Not need based, interest

accrues while student is enrolled.

• Student can pay interest while in school or it can be added to

principal of loan.

• Interest rate for loans disbursed on or after July 1, 2019 is 4.529%

fixed. Both loans go into repayment 6 months after graduation or if the student drops below halftime enrollment. Refer to page 10

Loans - PLU LUS

• Federal Direct PLUS Loan-Credit based loan in parent’s name to help

fund education.

• Interest rate for loans disbursed on or after July 1, 2019 is 7.079%

fixed.

• Parent can apply for deferment while student is enrolled at least

half-time. Refer to page 10

Loans – Master Prom

• missor
• ry No

Note

• If a student has accepted their loan offer, they must complete the

following at www.studentloans.gov:

• Entrance Counseling, and
• a Master Promissory Note (MPN)
• For a Parent PLUS loan, a parent must complete the following at

www.studentloans.gov:

• a Parent PLUS loan application, and
• a Master Promissory Note (MPN)

Federal Work rk-Study

• Work-Study is a need based federal aid that provides an opportunity

to earn money through a part-time job on campus.

• Work-Study funding helps students pay for living costs while

attending college.

• Work-Study awards do not disburse to the student account to pay

charges for tuition, fees, room and board.

• Students will be paid as a PSC employee with a bi-weekly paycheck.

Scholarshi hips

• The Peru State scholarship application is available January every year.

Students must apply through their MyPSC dashboard.

• It is one application for most scholarships through the Peru State

College Foundation.

• Some foundation scholarships do require an additional application.

Outside Scho holarships

• It is important that you forward any outside scholarships (high school,

local community or organizations) that the student is receiving to our

• ffice.
• Federal regulations require our office to coordinate all aid.
• The Outside Scholarship Reporting Form is located on the PSC website

www.peru.edu.

• Visit the Forms Bank in the Financial Aid area.

Satisfactor

• ry Academ

emic Progr

• gres

ess

• Federal regulations require all colleges to establish and enforce

standards of Satisfactory Academic Progress (SAP).

• SAP is checked the first time a student applies for financial aid and

prior to aid disbursement each term.

• Students who are receiving federal aid, as well as campus-based

aid, are required to maintain SAP to continue to be eligible to receive aid. Refer to page 10

Satisfactor

• ry Academ

emic Progr

• gres

ess

• To maintain SAP students must meet:
• Cumulative GPA requirement of at least 2.0, and
• Cumulative Credit Completion Rate (PACE) of 67%.
• Cumulative pace is measured by dividing the cumulative number of

credits completed by the cumulative number of credits attempted. Refer to page 10

Imp mportant I Items ms t to Remember

• Any time our office can request items from the student

which will show up in their To Do List in myPSC.

• It is important to proactively respond to requested

information and check the To Do List regularly to avoid any delay in receiving financial aid.

my myPSC

To Do List

Imp mportant I Items ms t to Remember

• All aid is based on full-time enrollment.
• If enrollment changes, aid will adjust accordingly.
• Student’s must get in the habit of checking their Peru State

email regularly. Our office form of communication is via email.

Paren ent Gu Gues est A Access

• To comply with federal regulations, if you wish to contact our office

and speak about your student’s financial aid information, there must be a release on file.

• Your student will need to initiate Parent Guest access through

their MyPSC.

• There will be a session later today for more information.

See Handout out in back of brochure

Questions? s?

Office of Financial Aid Administration Building Room 204 402-872-2228 finaid@peru.edu