OSFAE Functions Award financial aid in compliance with all federal & state regulatory requirements...
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![Page 1: OSFAE Functions Award financial aid in compliance with all federal & state regulatory requirements and University policies. Administer University merit,](https://reader038.fdocuments.net/reader038/viewer/2022103005/56649de95503460f94ae4441/html5/thumbnails/1.jpg)
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OSFAE FunctionsOSFAE Functions
• Award financial aid in compliance with all federal & state regulatory requirements and University policies.
• Administer University merit, donor and outside scholarships including the ROTC subsidy program
• Certify student & parent loan eligibility
• Manage the Student Employment Process
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Applying for Financial AidFree Application For Federal Student Aid (FAFSA)
• www.fafsa.gov• www.pin.ed.gov
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Applies student for federal financial aid including Federal Pell Grant, Federal Direct Student Loans, Federal Direct (parent) PLUS loans
Must submit the FAFSA each year, available January 1st.
Preferred Filing Deadline April 15th (continuing students)
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Applying for Financial Aid
CSS Profile
• student.collegeboard.org • Click on Student Tools
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Applies student for University need-based aid and campus based-aid including Coral Grant
Must submit CSS Profile each year, available October 1st but complete by April 15th (continuing students)
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State Grants and Scholarships
FL Residents:
1.Submit Certificate of FL residency application with supporting documentation, 1st year only
2.Form is available at: www.miami.edu/ofas
3.FL Aid (and most other state aid) begins paying after drop/add period
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FL Resident Access Grant
$3,000 – FL Residents only (choosing a private institution)
FL Bright Futures
*Florida Academic Scholarship - $103/credit
*Florida Medallion Scholarship - $77/credit
•Bright Futures award estimated at 15 credits/sem•Will disburse according to actual enrollment
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FL Student Assistance Grant
• Awards vary up to $2200/yr
• Based on early FAFSA filing
• Need-based program • File early!
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Student Loans:
•Federal Direct Subsidized •Federal Direct Unsubsidized•Federal Perkins Loan
Student Loan Housekeeping Items
• Accept loans offered on CaneLink• Complete Entrance Counseling• Sign Master Promissory Note(s)
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Federal Direct Loans (sub/unsub)
Students accepting Federal Direct Loans can go to www.studentloans.gov to sign their MPN and complete entrance counseling
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Federal Perkins Loan:
Students awarded and accepting Perkins Loan will complete the MPN within Canelink and complete Entrance Interview requirements through MappingYourFuture.org.
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Federal Parent PLUS Loan Process
Once credit-approved, the school will be notified.
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Private/Alternative Loans
• Lender of your choice; not federally regulated
• Once credit-approved, is sent to the school for certification based on the cost of attendance for the loan period.
• Private Lender Listhttp://www.elmselect.com/link/query?schoolid=485
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Change of Circumstances
If you experience a loss of income due to:
• Unemployment
• Separation or divorce
• Death of parent’s spouse
If you have expenses related to:
• Excessive medical or dental expenses paid
(not just incurred) which exceed 11% of AGI
Must have CSS Profile on file and submit signed copies of most recent federal taxes and parent W-2s.
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Ver-i-fi-ca-tion (noun) The act or process of verifying.
NEW! IRS Data Retrieval Tool: An easier way to provide tax information. With just a few simple steps, students & parents who have completed their IRS tax return will be able to view & transfer
their tax information into their FAFSA.
Check CaneLink “To Do List” for required actions
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Satisfactory Academic Progress - SAP
4 Programs to measure SAP
• Qualitative• Quantitative
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Merit – Academic Scholarships•24 credits/year – 3.0 or above
FL State Grants & Scholarships•24 credits/yr – GPA Requirements
UM Need-based •complete 67% of attempted credits•GPA of at least 1.7-2.0 depending on academic level.
Federal •complete 67% of attempted credits•GPA of at least 1.7-2.0 depending on academic level.
Refer to www.miami.edu/ofas and click on Satisfactory Academic Progress
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Important Tasks:
1)Complete any outstanding items on your “to-do” list;2)Accept/Decline/Reduce any offered financial assistance;3)Complete Loan MPN and/or Entrance Requirements4)Provide Federal Student Aid Permissions;5)Send any outside scholarship information to OSFAE;6)Complete Sibling Enrollment Confirmation process by Oct 1st.
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OSAS FunctionsOSAS Functions
• Issue e-bill notifications• Receive & process
payments• Provide monthly payment
plan option• Process 3rd party sponsor
billing:-FL Prepaid-Gov. Sponsors
• Process refunds
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CaneLinkCaneLink
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Proxy AccessProxy Access
The Family Rights & Privacy Act (FERPA)
- Protects confidentiality of student information
- Authorization required to view or discuss student finances
- Granted through Canelink
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Viewing & Paying your BillViewing & Paying your Bill
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Viewing & Paying your Bill (Cont.)Viewing & Paying your Bill (Cont.)
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Office of Student AccountsOffice of Student Accounts
Daniela SalaverriaAssociate Director Office of Student Accounts
Contact Information: www.miami.edu/osas 305-284-6430 option #[email protected]
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AgendaAgenda
• E-Bill Notification• Set up Proxy/Delegate Access• Important Dates• Guide to Viewing your Bill• Payment Methods• Third party sponsor billing• Monthly Payment Plan• Credit Balances/Refunds• Title IV Authorization
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Important DatesImportant Dates
• Payment Due Date:Undergraduate students: August 1st, 2015
• Drop Refund Due Dates:Fall 2015 Drop Refund Schedule
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E-Bill NotificationE-Bill Notification
Important:
UM e-mail
Delegate Access
Login to Account Regularly
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Delegate AccessDelegate Access
Become an Authorized User!
• The Family Rights & Privacy Act (FERPA)
• Student Portal Canelink.miami.edu
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Tuition & FeesAcademic Year 2015-2016
Tuition & FeesAcademic Year 2015-2016
**Health Insurance: $2,466.00
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Room & BoardAcademic Year 2015-2016
Room & BoardAcademic Year 2015-2016
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CaneLinkCaneLink
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Viewing & Paying your BillViewing & Paying your Bill
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Viewing & Paying your Bill (Cont.)Viewing & Paying your Bill (Cont.)
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Payment MethodsPayment Methods
• Online– E-Check (ACH)– Credit card *2.5% merchant fee
• In person– Cash– Check *returns subject to a fee
• At the bank– Wire Transfer
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Monthly Payment Plan - OptionMonthly Payment Plan - Option
• Fall/Spring only– 4 months– 3% fee
• Apply via Canelink– Account Inquiry– Account Services– Payment Plan
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3rd Party Sponsors FL Prepaid
3rd Party Sponsors FL Prepaid
2014-2015• UNIV RATES
– Tuition: $116.67 per credit– Local fees: $36.59 per credit– Housing: $2,702.72 per term
• HOW TO SETUP– UM Authorization Form– FL Prepaid Transfer From
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FL Prepaid FormsFL Prepaid Transfer Form UM – FL Prepaid Authorization Form
FL PrepaidFL Prepaid
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RefundsRefunds• If monies received exceed charges due• Email notifications
• Direct Deposit!• Paper checks
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How to Apply Title IV Fed Aid to Other ChargesHow to Apply Title IV Fed Aid to Other Charges
• Title IV funds include: Federal Pell Grants, Federal Supplemental Educational Opportunity
Grants, Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, Federal Perkins Loans and Federal Grad PLUS loans.
• Federal student financial aid can only cover “institutional charges” as defined by the DOE: Tuition & Mandatory Fees.
• Unless authorization is received, federal financial aid cannot be used to cover non-institutional charges such as: Health Insurance fees, library fines, damage fees, returned check fees, lost key fees or any other charges not directly tied to taking a class.
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Contact InformationContact Information
Ashe Administration Building Contact an Advisor:• In personMon-Friday 8:30am – 5:00pm• By telephone305-284-6430 option #5• By [email protected]
www.miami.edu/osas
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Contact Information (Other offices)Contact Information (Other offices)
Other Important Phone Numbers
• Dining Services 305-284-3584• Health Services 305-284-9100• Housing 305-284-4505• Registrar 305-284-2294
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Questions?
Office of Student Financial Assistance and Employment
Rhodes Building305-284-5212
Office of Student Accounts Services
Ashe Building305-284-6430 option #5