Student Business is mainly college students and university graduates in the population composition of entrepreneurship in recent years, more and more college students by social concern, because college students are high-level knowledge of the crowd, and after many years of education, and burdened with all the expectations of society, in social and economic prosperity and development, entrepreneurship has become a college student college students outside of the emerging phenomenon of employment.
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: email@example.com web: www.umbc.edu/financialaid Library, Pond-side entrance Student Business Services Ph: 410 455 2288 email: firstname.lastname@example.org web: www.umbc.edu/sbs Administration Building, Third Floor Undergraduate Admissions Ph: 410 455 2291 email: email@example.com web: www.umbc.edu/undergraduate Library, Pond-side entrance Registrar’s Office Ph: 410 455 3158 email: firstname.lastname@example.org 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!!
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