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					This power point is designed by your EOP Advisors to help you understand
how your financial aid applies to your educational expenses and living expenses.
A typical Financial Aid offer includes a variety of grants, loans and Federal Work
Study which total what the average student needs each year for everything.
1: My Financial Award

WHAT IS MY ESTIMATED TOTAL BUDGET?
This is an estimate of what the “average” student spends
per school year. It includes some estimated expenses you
can reduce or eliminate so you don’t really need the full
amount estimated for the “average” student.

No one will send you a bill for the ‘estimated total budget.’
It’s NOT a bill you owe; it’s NOT a promise of money to you.

Bills you owe to SSU for fees (and dorms if you live on
campus) are deducted from your financial aid, so it’s your
job to make sure your award is not held up by an
incomplete FAFSA or by missing To Do List documents
needed by SSU Financial Aid Office. Ask if you need help.
Log on to MY SSU and view your To Do List at least once a week!
          2012-13
         Cost of Attendance

     Also referred to as the Student Budget, Cost of Attendance is a
     standard estimated total of an average student’s expenses for the school
     year, Fall and Spring semesters.

     (CSU fees are subject to change by the Board of Trustees. In the past, students with a
     State University Grant saw their SUG increase to cover state mandated fee increases.)

Cost Item:                At Home:               On Campus:              Off Campus:
Registration
                            $7,546                   $7,546                  $7,546
charges
Books & Supplies            $1,754                   $1,754                  $1,754
                                                  $9,412-
Food & Housing              $4,400               $12,540 by                 $12,402
                                                 dorm room
Transportation              $1,482                   $1,378                  $1,444

Personal & Misc.            $3,288                   $3,096                  $3,054

       TOTALS:            $18,470                  $25,015                  $26,200
2: Grants & Scholarships

WHAT ARE GRANTS?
-Money for school expenses you don’t have to pay back
-Come from your FAFSA results
-From meeting FAFSA deadlines, and
-From promptly turning in documents requested on your
MY SSU To Do List.

HOW DO I APPLY FOR GRANTS?
-Submit FAFSA every January by using income estimates
-Correct your FAFSA with real figures asap

WHAT ARE SCHOLARSHIPS?
-Money for school expenses you don’t have to pay back
-Scholarships & grants are resources to pay for school
-SSU Scholarship deadline is January 15
3: Resources

Grants & Scholarships vs. Bills You Owe SSU for the year

1. ADD up all your resources: Grants from your financial
aid award and any Scholarships you received
-Do not include Federal Work Study; it is not a grant
-Do not include Loan offers at this point

2. ADD up all the bills you owe to Sonoma for the year
-Registration charges everyone owes
-Cost of dorm & meal plan if living on campus
(You choose the dorm and some cost more than others.)

3. SUBTRACT the smaller amount of 1 or 2 above from the
larger to determine if you still owe money to SSU after your
financial aid resources are applied or if you will receive a
remainder check to help pay other expenses.
4. Considering Loans

If I Live ON campus?
-If there is gap between your resources & what you owe
SSU, you may need to consider a loan…

If I live OFF campus?
-If your remainder check, after SSU fees are deducted
from your financial aid, isn’t enough to pay rent, food,
etc. for the semester, you may need to consider a loan

Your EOP advisor will explain options:
-Perkins and Subsidized loans are more desirable than
Un-Subsidized or PLUS loans
-Ask Financial Aid the steps to follow to take a loan
-Don’t take a loan until you are sure you really need one.
5: Other Expenses
Resources vs Bills Owed to SSU model addresses the
biggest school expenses of tuition, food and housing but
does not include money for books, entertainment,
transportation, clothing, cell phone, etc.

 WORKING Part Time is one solution for other expenses:
-Most EOP students work during the school year
-Part time is the key to academic success, 10-20 hrs/week
-No one guarantees you a job
-Begin job search right away while at Summer Bridge
-This is where Federal Work Study (FWS) comes in as
explained on the next slide
-This year you must “accept” your FWS award online - -

Unlike a grant, no one gives you the amount on your FWS
offer. You only get what you earn if you find a campus job.
Federal Work Study

FWS benefits students who work part-time on campus:
-Increases your chances of finding a campus job
-Allows you to earn whatever hourly wage that job pays
-You can earn up to amount of your award If your job
offers you enough hours

Future Benefit of FWS employment:
-FWS wages are taxable income on the FAFSA but won’t
count against you in next year's FAFSA assessment

If you earn too much at a non-FWS job, you may hurt your
eligibility for some grants the next year

FWS earnings are not for "fun extras" but to pay for things like
car expenses, toilet paper, cell phone, etc. since all your grants
usually go to the bills owed to SSU.
6: Making College Affordable

Reduce expenses & need less $ than the average student:

TAKE ADVANTAGE OF:
-Free campus events to reduce your entertainment budget
-Wear what you have to reduce your clothing budget
-Use email more & consider cell phone expenses carefully

AVOID:
-Going home often to reduce your transportation budget

USE:
-Meal plan you paid for instead of spending extra on food
-Free services like Tutoring, Health Center, computer labs
Save $300-$600 over summer for books. Be sure before you buy &
open a book that you really need that book. Consider sharing.
  What does all this mean?
  That depends on your living situation:

1) Living off campus with family, or

2) Living off campus on your own, or

3) Living on campus & which dorm room you choose
Most EOP students find the Residential Suite Doubles fit best
with their available financial aid grants without loans.
Some “Living/Learning” communities are alternatives to the EOP Academy
and require you to live in particular dorms. Ask what dorms are required for
any program you are considering, whether it removes you from the EOP
Academy, and the dorm cost before you decide what’s best for you. Your
grants will not increase to cover a higher cost dorm. EOP Academy is a
Freshman “Academic Cohort” focused on the success and shared
experiences of EOP students whatever their major.

DO YOU HAVE OTHER ASSETS?
Your individual situation will vary if you have savings,
scholarships, or family funds to apply to your needs.
Living On Campus
COST for Freshmen:

Academic Year: 2012-2013
                                           Year Rate
1. Residential Suite Double                 $ 9,412
2. Cabernet Double                          $10,140
3. Sauvignon Double                         $10,756
4. Residential Suite Single                 $11,194
5. Sauvignon Single                         $12,540


 The above costs include your meals. All first year college students
 who live in the dorms are required to be on a pre-paid meal plan
 for their entire first year at SSU. "First year college students"
 includes students who have recently graduated from high school
 and are enrolling at SSU for the first time.
Off Campus with Family
BUDGET:

You will owe only Registration fees to SSU

You are likely (not guaranteed) to receive a check after
registration fees are deducted from your financial aid
award

Check should help with expenses like transportation,
food, clothing, books, etc.

Budgeting is in your hands…

Some will need a part time job
Off Campus on Your Own
BUDGET:
You will owe only Registration Fees to SSU

You are likely (not guaranteed) to receive a check after
registration fees are deducted from your financial aid
award

You have to budget $ for the semester to pay rent, food,
garbage, lights, water, phone, transportation, etc.

Budgeting is in your hands and your check is unlikely to
cover all expenses

A part-time job will be critical for most living off campus
on their own and a campus FWS job is preferable

And you may need to consider a loan
Living On Campus
BUDGET:

Most or all of your grant aid is likely to be absorbed by
registration fees, dorm & meal plan deduction

Most won’t get a significant remainder check to budget

But you have less to budget for since your rent, food,
PG&E, etc. are covered and you don’t need a car to
drive to campus

Some will need to consider a loan to cover your bill
owed to SSU, usually depending on the dorm cost

For many, a part time job is critical to pay expenses like
transportation, toothpaste, etc.
A Final Word

We first look at the year, but
-Campus bills & Fin Aid will be divided into 2 semesters

Some financial aid packages are not final yet:
-Until all FAFSA corrections are complete and you
turn in requested documents to SSU Fin Aid Office,
awards can change for better or worse.

        Your award can be cancelled if you don’t turn in
        requested documents to Financial Aid.

Check campus email & To Do List weekly, including all
summer long. Documents can be requested at any time.

PS: It only seems overwhelming at first. Your EOP Advisor’s
goal is to make sure you understand your award and costs.
UNDERSTANDING FINANCIAL AID
Your EOP Advisor will help you understand your financial
situation. Once you understand the basics, you are better
prepared to work with your Financial Aid Representative as
needed. Respond promptly to any emails, To Do List
requests or calls from Financial Aid. Ask if you need help.



                           ccreated




                                      Created by Sandra Shand, Graphics by Luis Vega

				
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