Microsoft PowerPoint - New_Student_Day by bestt571

VIEWS: 4 PAGES: 25

More Info
									 Financing Options
            UMBC
Office of Financial Aid & Scholarships
                  and
      Student Business Services
 Congratulations
      and
Welcome to UMBC!!
Access to Student Information

     Family Educational Rights and
     Privacy Act (FERPA)
     is a federal law designed to protect the
     student’s educational records. This applies to
     all university related records, including
     financial aid and billing.
     Release of Info form is required in order to
     discuss student account with parents/others.
     Students are strongly encouraged to remain
     an integral part of the financial aid & billing
     process.
Application Process

Must submit a FAFSA for each academic
year
 “Apply on-line by Valentine’s”




If you haven’t submitted a FAFSA for the
current academic year, it’s NOT too late!
File TODAY!
What Happens Next?
 Financial Aid Award Notification (FAN)
 Emailed
 Access FAN on MyUMBC
 All correspondence is sent to the
 student’s MyUMBC email
 Submit all documents ASAP to prevent
 delays in processing!
Types of Aid Offered at UMBC
Grants/Scholarships (Do not have to be repaid)
   Federal
       Pell, SEOG* ACG and SMART Grants
   State
       Awarded by MD Higher Education Commission (MHEC), not UMBC
       In-state residents only
       Must file FAFSA by March 1st to be eligible
       Some MHEC scholarships require additional applications
            Visit their web site at www.mhec.state.md.us for more
            information
   UMBC
       Need-based
            UMBC Grant (GIA)*

 *FAFSA must be filed by UMBC priority filing date of February 14th to be
       considered for FSEOG and GIA
Types of Aid Offered at UMBC

 UMBC Merit Scholarships
  Evaluated at the time of admission
  Specialty scholarships require additional
  application process
  Based on a combination of SAT/GPA
  Some scholarships also consider talent
  FAFSA not required
Types of Aid Offered at UMBC
            (cont’d)
Student Loans (Must be Repaid)
  Federal
    Perkins Loan
       FAFSA must be filed by UMBC’s priority filing date of
       February 14th
       Need-based loan
    Stafford
       Subsidized
          Need - based
          Government pays interest while the student is in
          school
       Unsubsidized
          Non-need based
          Interest accrues while the student is in school
Additional Options

Parent Plus Loan
  Based on credit worthiness
  If the parent is denied for the PLUS Loan
     Student eligible for Additional Stafford Unsubsidized


Alternative Loans
  Available to students and/or parents
     Based on credit worthiness
Additional Steps to Apply for Loans
 Stafford, Parent Plus and Alternative Loans
   On-line process
   Should be completed by June 30th for priority processing
   Online Student Loan Counseling must also be completed for
   Stafford Loans only

 Perkins Loan
   Award determined by Financial Aid
   Student Business Services will notify awardees by email for
   application process
   Additional Online Student Loan Counseling
   must also be completed
        UMBC
STUDENT BUSINESS SERVICES




     www.umbc.edu/sbs
What is Student Business Services?

 • It is the office that bills students, collects
   and disburses funds for the university.

 • We answer questions regarding student
   accounts.
   (Billing, payments, refunds, etc.)

 • Release of information form is required
   to discuss the student account with
   others (parents, guardians, spouses).


      We are located on the third floor of the
            Administration Building.
WE ARE HERE TO HELP YOU!




Student Business Services
Customer Service Staff 2010
              Billing Information
E-BILLING

   Billing is electronic. UMBC does not issue paper bills. Students access their e-bills
   through myUMBC. E-mails are sent when e-bills are available. Students can authorize
   parents to access their e-billing accounts.

ONLINE PAYMENTS

   MC, American Express, Discover & checks (ACH) are accepted online.
   (Please note: We do not accept Visa)
   A 2.75% convenience fee applies to all credit card transactions.

   There is no charge to pay with a check (ACH) online.

   Online payments post to student accounts immediately.

LATE FEES

   Late fees will be assessed on accounts not paid by the due date (20th of the month).
   Please refer to our website for our late payment fee policy.
    Viewing & Paying Your Bill
Students log in to myUMBC, “Billing and Personal Finances”
to access the following:

 -Account Inquiry: Most current student account
  information (real time)
 -E-bills : Once a month
 -Online payment site

  E-bills generate monthly and are a snap shot of the student
  account as of a specific billing date. The most accurate
  information can be viewed (by the student) on myUMBC.

Students can authorize others to view their e-bills and make
online payments on their student accounts.
      Pay in Person



        Student Business Services
            Cashier’s Office

      Administration Building, Third Floor
       Monday-Friday, 8:30am - 4pm

The Cashier’s Office accepts cash and checks.

No credit card payments accepted in person.
    Fall 2010 E-Billing Schedule

Register By   E-Bill Date   E-Bill Due   Late Fee

 7/31/10        8/1/10       8/20/10     8/25/10

 8/31/10        9/1/10       9/20/10     9/25/10

 9/30/10       10/1/10      10/20/10     10/25/10
The Monthly Payment Plan
The MPP allows students to divide eligible
charges such as tuition, fees, room and board in
up to 5 installments.
Number of installments depend on enrollment
date in the MPP.
$50 enrollment fee is charged per semester.
The MPP is available in fall and spring semesters.
Enrollment is online. Payment is online.
For more information on the MPP please go to
         www.umbc.edu/sbs/mpp
MPP Schedule Fall 2010
       Enrollment     Number         First
        deadline         of        Payment
                      Payments       Due

          5/31/10          5         6/01/10

          6/30/10          4         7/01/10

          7/30/10          3          8/1/10

          8/31/10          2          9/1/10


        Enrollment began on 05/03/10

There is still time to enroll for 5 installments.
        Don’t delay enroll TODAY!!!
                       Refunds
Refunds are mailed to student’s billing address on file.

Plus loan refunds are mailed to parent borrowers at address
provided on Plus Loan application.

Refunds are usually received 10-14 business days from the date
the credit is applied to the student’s bill.

Direct Deposits of student and parent refunds coming soon!
                   Refunds
In some cases, you may receive a refund even though
there is a balance on your account.

There are federal guidelines we must follow when
disbursing aid.

There may be a chance that your aid has posted before
some of your charges.

There may be adjustments/charges that are not reflected
on your bill due to timing.

Please make sure that you do not owe (or will not owe) an
outstanding balance before cashing a refund check.
                           .
Campus Contact Information
Office of Financial Aid and Scholarships
Ph: 410 455 2387 email: finaid@umbc.edu
web: www.umbc.edu/financialaid
Library, Pond-side entrance

Student Business Services
Ph: 410 455 2288 email: sbs@umbc.edu
web: www.umbc.edu/sbs
Administration Building, Third Floor

Undergraduate Admissions
Ph: 410 455 2291       email: admissions@umbc.edu
web: www.umbc.edu/undergraduate
Library, Pond-side entrance

Registrar’s Office
Ph: 410 455 3158     email: records@umbc.edu
web: www.umbc.edu/registrar
Academic Services Building
                    Reminders
FERPA Release
  Parents must have a FERPA (Authorization for Release of
  Information form) on file, at either Financial Aid or Student
  Business Services, to have access to student information.

MyUMBC
  Email Account
     Check email regularly for important financial aid and
     billing updates and correspondence.
  Student Account
     Be sure all outstanding charges have been settled.

Additional Aid
  Notify the Office of Financial Aid and Scholarships about
  any outside awards or scholarships.
        Questions??




Best Wishes for a Successful Semester!!

								
To top