PAYMENT PLANSSTUDENT EMPLOYMENTFINANCIAL AID

Topics To Be Discussed

• Financial Aid Award Types of Assistance

• Student Employment Process• Billing System

Financial Aid

• If student applied, a comprehensive award letter was included in Admission packet

• Scholarships are included in the letter of Admission• If you have received an estimated award based on

the CSS Profile, a revised award will be sent at the time the FAFSA is received

• It’s not too late to submit your FAFSA and CSS Profile

CWRU Financial Aid Award

Types of Assistance

• Scholarship• Grant• Loan• Work-Study

• Money that does not have to be paid back

• Scholarships are awarded on the strength of the application

• Need is a component for grant assistance

Scholarships and Grants

• Money students and/or parents borrow to help pay educational expenses

• Repayment usually begins after education is finished

• Only borrow what is really needed

• Educational loans are an investment in the future

Loans

• Subsidized Direct (need) - fixed interest rate of 6.8% as of July 1, 2013

• Unsubsidized Direct (non-need) - fixed interest rate of 6.8%

• Origination fee of 1.051% deducted at the time of disbursement

• Repayment begins after 6-month grace period

Federal Direct Loans

• Base annual loan limits (combined subsidized and unsubsidized):

• $5,500 for 1st year undergraduates with no more than $3,500 Subsidized

• $6,500 for 2nd year undergraduates with no more than $4,500 Subsidized

• $7,500 for each remaining undergraduate year with no more than $5,500 Subsidized

Federal Direct Loan Limits

• Unsubsidized loan program for parents of dependent undergraduate students

• Annual loan limit: COA minus other aid• Fixed interest rate 7.9% - Loan origination fees of 4.204%

assessed on principal amount• Credit-based; if not approved, student is eligible for

additional Direct Unsubsidized Loan• Repayment, upon request, can be deferred until after the

student graduates or drops below half-time

Federal Direct Parent (PLUS) Loans

• Student loan; need-based; subsidized

• Eligibility determined by CWRU

• Nine-month grace period

Federal Perkins Loans

Other Financing Options

• Outside Scholarships

• Alternative Financing• Financial aid counselors can discuss alternative

financing options with families

• The school is required to determine the accuracy of the information reported on the FAFSA

• If you are selected for verification additional documentation will be requested including a Tax Transcript from the IRS or by using the IRS Data Retrieval Tool

• Verification may change your financial aid award

Verification

• Applying for financial aid is an annual process

• FAFSA and required documents must be submitted by May 15th for continuing students• IRS Data Retrieval Tool

Moving Forward

Student Employment

Federal Work-Study• A Federally funded need-based program –

employment helps meet financial need• Funds are not applied to direct costs• Student wages are subsidized by the Federal

Government up to the student’s earnings limit• Encourages students to participate in community

service activities• Federal Work-Study is an optional program

Benefits of Working

• Networking opportunities• Financial gain• Career exploration• Connection with the University community• Non Work Study positions

• Almost 2/3rds of all student employment positions do not require work-study

Basic Pay Information• Campus minimum wage is $9.20 per hour

• Students are paid twice a month

• Direct deposit is the preferred method of payment

• Maximum hours a student can work per week = 20. Average is 8 to 10 hours per week

• May work up to 40 hours per week during long breaks (i.e. Winter break and Summer)

Once you decide to work…Step 1: Paperwork

• Employment Application

• W-4: Federal Withholding Exemption Certificate

• I-9: Employment Eligibility Verification

• IT-4: State Withholding Exemption Certificate

Step 2: Finding a Job

• Work-Study Job Fair

• Job postings located on-line at http://jobbss.case.edu

• Word of mouth

Student Information System (SIS)

2013-14 BudgetTuition $41,420Fees (UG) $381Room & Board $12,898Book Allowance (UG) $1,200*Personal Allowance $1,350*Transportation $100-2,000*Nursing Fees $572 Nursing Books/Supplies $1,600*Matriculation Fee $480

*Non-billable item

Student Information System (SIS)

• Registration/Academic Record• View Pending Financial Aid• View Bill/Make Payments• Set up an Authorized User Account• Health Fee Waiver – A waiver must be submitted

each semester if the student is covered by another plan

Pending Aid• Students will be able to view their pending aid from the

University. It will not include:

• Outside Scholarships

• Federal Work-Study

• Federal Direct PLUS Loans

• Private Loans

Please verify with the Financial Aid Office that all required documents are complete.

Billing & PaymentsBilling• CWRU utilizes a paperless billing system. Notification that Fall

invoices are available will be emailed to the student’s CWRU email account soon after the student has registered.

• Tuition Management System

Making a Payment • E-check or savings deduction• Discover Card (Fee of 1.77% of payment amount will be added

to transaction)• Online payments are reflected immediately and banking account

information can be saved for future use.• Payments will also be accepted via mail

Contact Information•Office of University Financial Aid

216-368-4530financialaid@case.edu

•Office of External Loans216-368-6153faloans@case.edu

•Office of Student Employment216-368-4533stu-emp@case.edu

•BURSAR: Student Accounts Receivable 216-368-2226 bursar@case.edu