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Paying the Bill Financial Aid

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					Paying the Bill

2009-2010

Texas Tech University

Red to Black

TM

Texas Tech University

What can we do for you?
All our services are FREE and CONFIDENTIAL We can either meet with you on an individual basis or can be asked to do a presentation We provide you with information via the web for easy access!

Talk with peers about financial issues

Texas Tech University

Red to Black Topics
TM

• Client Based
• • • • • Saving vs. Spending Creating a Budget Student Loans Opening a Bank Account Planning for Education Costs • Student Income Taxes • Pre-marital Financial Counseling

• Outreach Based
• Cash Management & Budgeting • Identity Theft • Employee Benefits • Student Loans & Consolidation • Credit Reports & Credit Scores

Texas Tech University

Red to Black

TM

Free and Confidential

Peer Financial Planning
for Texas Tech Students

redtoblack@ttu.edu (806) 742-9781

www.r2b.ttu.edu

Texas Tech University

Student Business Services

TM

Texas Tech University

Student Financial Center (301 West Hall)
In our combined lobby we provide:

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Student Business Services
Financial Aid Red Raider Employment Center

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Self Help Stations

Lobby hours are 8:00-4:30 Monday-Friday

Texas Tech University

SBS Vision
We strive to continually enhance processes and practices while pursuing exceptional standards of service to the students of Texas Tech University in order to: • Provide the most effective and efficient service possible • Create a friendly environment for students, faculty and staff • Provide accurate reporting to students, other departments, faculty, staff, and governmental agencies • Become an exemplary department for quality service

Texas Tech University

Contact Information
Phone: (806) 742-3272 (8:00-5:00 weekdays)

Toll Free:

(866) 774-9477

Email:

Ask Raider Red Account or sbs@ttu.edu www.sbs.ttu.edu

Website:

Texas Tech University

Internet Access to Student Accounts
• Access to student bill is available:
– Monday-Friday: All day except during system maintenance (begins about 11PM) – Saturday: Midnight-6PM – Sunday: Noon-Midnight – E-Bill supports Microsoft Internet Explorer 6.0, Netscape 7.x, and Firefox 1.x; other browsers may not function as anticipated.

Texas Tech University

Student Bills- eBill
• E-Bill statement for each term will be sent to student’s TTU issued email and to other authorized users only. Students may also view their balance through their Raider link MYTECH account under Account Summary. Every student is still responsible for paying his/her account on time even if ebill statement has not been received. During the term incidental fees (such as parking, meal plans, library fines, etc) may be added to a student’s account. Students are responsible for paying these incidental fees as they are incurred. E-Bill statements are updated monthly and are generally due by the 1st of the following month, unless otherwise specified. Accounts not paid timely will receive the following:
– $10 late fee for balances less than $100 and not on a payment plan. – $25 late fee for balances equal to $100 or more and not on a payment plan. – $25 late fee for failure to make a payment plan installment payment by the due date.

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Registration and Transcript holds will be applied if account not paid in full when due. This may result in student not being able to register for future terms.

Texas Tech University

Payment Methods
Cashier Station: • Cash • Credit Card Checks (no credit cards) • Money Order • Cashier's /Traveler’s Checks • Business Checks • International Drafts • Third Party Contracts • Short Term Loans if student qualifies All other payments must be processed online through E-bill: • Credit Cards (Discover, American Express, Master Card, Visa) • Personal Checks • Payment Plans • Student Financial Aid Packages Mail Payments • Checks only send to Student Business Services, Box 41099, Lubbock TX 79416 • Overnight: Student Business Services, Texas Tech University, West Hall 301, Lubbock TX 79409-1099

Texas Tech University

Payment Option Plan:
Traditional Payment Plan
(3 installments) 1st 50 % of total tuition, fees, housing 2nd 25% of total tuition, fees, housing 3rd 25% final installment due - Agreement must be set up by student on E-bill - $25 service charge and 1st installment due at time of set up - Due dates will be on Payment Plan Agreement

Texas Tech University

Payment Option Plan :
Budget Payment Plan
(4 installments) Four Equal installments 25% of total of tuition, fees and housing. Agreement must be set up by student on E-bill $25 service charge due at time of set up no other amount due until first due date. Due dates will be on Payment Plan Agreement

Texas Tech University

Payment Option Plan :
Emergency Payment Plan
(3 installments) Three Equal installments of total of tuition, fees. and housing Agreement must be set up by student on E-bill $25 service charge due at time of set up no other amount due until first due date. Due dates will be on Payment Plan Agreement Available 10 days prior to class

Texas Tech University

Exemptions and Waivers
– – – – – – – – – – Competitive Scholarship Faculty and Faculty Dependents Military Tent Waiver- Non resident Tuition Waiver Blind/Deaf Exemption Clinical Preceptors and their children Educational Aide Foster Care/ Adopted Formerly Foster Care Texas Veterans- Hazelwood Disabled/ Deceased Peace Officers or their Dependents Early High School Graduates

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Valedictorian
Visit www.collegeforalltexans.com for more details

Texas Tech University

External Third Parties
• Third parties are individuals or sponsors taking responsibility for a student’s tuition and fee account. These do not include the immediate family. • Students must sign a TTU third party contract as well as turn in vouchers and signatures of the third party sponsor. • No billing will be processed without the contract.

Texas Tech University

Third Party Examples
• • • • • • TGTP- Texas Guaranteed Tuition Plan Army Reserves Continuing Education Services Army National Guard Air Force, Army ROTC Veterans Administration Chapter 31 Department of Rehabilitative Services

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Foreign Governments and Agencies
Texas Higher Education Board Work Source of the South Plains

• ** 529 plans are not considered a third party **

Texas Tech University

IMPORTANT
• It is very important that payment arrangements are made by the first cancellation. This includes waivers, exemptions and third party contracts that need to be processed. • If payment arrangements are not made, the advanced registration schedule will be cancelled, and a new schedule will have to be obtained during open registration.

Texas Tech University

Important Dates
• Fall 2009 due date for advanced registration is August 21, 2009 by 4:30 p.m. • 1st cancellation - August 21, 2009 • 2nd cancellation - September 14, 2009 • 3rd cancellation - September 24, 2009

Texas Tech University

Financial Aid
• Students who have received and accepted a financial aid award package will have their funds, including Parent Plus Loans, automatically applied to their tuition and fee bills. • If the applied aid does not cover 100% of tuition and fees, the student will need to cover the remaining costs with one of the other payment options.

Texas Tech University

Texas Tech Refund Card
The Texas Tech Refund Card is The Fastest Way to Your University Refund Texas Tech has partnered with Higher One, a financial services company that specializes in student refund payment services, to process your refunds FAST. At some point in your college career, Texas Tech may owe you money if you:
• • • • • Overpay tuition Drop a class or a class is cancelled Have money left over from financial aid Receive a scholarship Credit balance after application of waivers/exemptions

Texas Tech University

Don’t Let Your Funds Be Delayed
Even if you don't expect a refund activate your Texas Tech refund card as soon as you receive it!!! – You can have your refunds deposited directly into an existing checking or savings account or choose to have the funds applied to the Texas Tech Refund Card serviced by Higher One that is a Debit MasterCard® and checking account all in one. – You will receive your Texas Tech Refund Card shortly after you enroll for the first time. The card will be mailed to your current address on file with the university. Watch for this envelope in the mail...don't throw it away!

Texas Tech University

Activate Your Texas Tech Refund Card and Relax

• The Texas Tech Refund Card is the fastest way to your refund, but you still have choices. • Easy Refund to your Texas Tech Refund Card (Fastest: next business day) • ACH transfer to your existing bank account (Fast: 2-3 business days) • Activate your card and select your refund preference at TexasTechRefundCard.com or • Do nothing and a paper check will be mailed to you (approx. 21 days) • For other concerns including card not received contact SBS for assistance.

Texas Tech University

Refunds for Credit Card Payments
If a credit card is used to pay the student account, refunds (excluding financial aid and scholarships) will be credited back to that card.

Texas Tech University

$$ 1000.00 Tuition Rebate $$
To be eligible for a rebate under this program, the student must meet all of the following conditions: • Enrolled for the first time in an institution of higher education in the fall of 1997 or later. • Must be requesting a rebate for work related to a first baccalaureate degree received from a TX public university. • Must have been a resident of Texas, and must have completed all coursework at a Texas public institution of higher education and have been entitled to pay resident tuition at all times while pursing the degree. • Must have attempted NO MORE than three hours in excess of the minimum number of semester credit hours required to complete the degree under the catalog under which they graduated. • Coordinating Board Rule 13.93 states that if a student chooses to complete the requirements for a teaching certificate, the minimum number of credit hours required for the degree should be the minimum number of credit hours in which it is possible to satisfy the requirements of both the baccalaureate degree and the teaching certificate. • Hours attempted include transfer credits, course credit earned exclusively by examination, courses that are dropped after the official census date (12th class day, spring and fall, 4th class day summer term), for credit developmental courses, optional internship and cooperative education courses, and repeated courses. • Courses dropped for reasons that are determined by the institution to be totally beyond the control of the student shall not be counted.

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See www.sbs.ttu.edu to obtain application and more details. Application must be turned in prior to graduation.

Texas Tech University

Student Business SERVICES
We are 100% committed to serving our Texas Tech Red Raiders, so please let us know how we can serve you better!!!
• Please e-mail your suggestions or concerns to ASK Raider Red on our website sbs.ttu.edu

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Texas Tech University

Office of Student Financial Aid

~ Our Mission Statement ~ "The Office of Student Financial Aid provides financial assistance to students who, without such assistance, would not be able to pursue higher education."

Texas Tech University

College is Affordable
We understand in these difficult economic times, you and your student may have concerns about the affordability of a college education. The Office of Student Financial Aid is fully committed to helping you and your student find ways to make college affordable.
At Texas Tech University, we know that we are investing in your student’s future, and we want to help….From here it is possible. Becky Wilson, Director of Student Financial Aid

Texas Tech University

What is Financial Aid?
• Scholarships • Grants • Employment opportunities

• Loans

Texas Tech University

Direct Cost of Attendance
Tuition and Fees* (15 hrs each semester) Room and Board Books and Supplies Full Year $7,083.00 $7,688.00 $1,000.00

Direct Cost of Attendance
•Additional Adjustments can include:
•Loan Fees •Study abroad costs •Dependent care expenses •Expenses related to a disability •Expenses for cooperative education program

$15,771.00
*Actual tuition and fees will be calculated after the student registers for the term.

Texas Tech University

COST OF ATTENDANCE
Cost of Attendance
Total cost of Attendance: $19,161

 Tuition and fees  Room and board  Books and supplies; equipment; transportation; and

+ + + + +

personal/ miscellaneous expenses Loan fees Study abroad costs Dependent care expenses Expenses related to a disability Expenses for cooperative education program

Texas Tech University

APPLYING FOR FINANCIAL AID
Applying for Financial Aid: Complete the FAFSA
• Preview your aid eligibility with the FAFSA 4caster at www.fafsa4caster.ed.gov

• www.pin.ed.gov • www.fafsa.ed.gov
– Remember, the FAFSA is FREE!
– Remember to include Texas Tech’s School Code (003644) – Awards are based on the FAFSA (EFC = Expected Family Contribution)

 Check My Tech for your award status anytime

• www.raiderlink.ttu.edu

Texas Tech University

Determining Dependency Status for Financial Aid
Dependent vs. Independent Series of questions on FAFSA determine dependency status for each student. Dependency status determines whose information is included on FAFSA • Student (and spouse, if married) • Student and parents
Department of Education and IRS criteria to determine dependency are different.

Texas Tech University

What is “Need”?
Cost of Attendance (COA)

– Expected Family Contribution (EFC)
= Financial Need

Texas Tech University

RED RAIDER GUARANTEE
Qualifications
 Entering Freshmen Students starting Fall 2009  Texas Residents  Students must apply and be accepted for admission to

Texas Tech by May 1 for consideration  Students must submit FAFSA, and any necessary financial aid documents by May 1  Must be enrolled full-time each semester  Have a family AGI of $40,000 or below

http://www.redraiderguarantee.ttu.edu/

Texas Tech University

TTU Scholarships
• Merit-Based
– Based on Class Ranking (top 15%) and qualifying ACT or SAT scores (http://www.admissions.ttu.edu/freshman/scholarships/default.asp) submitted by April 15. – No application required

• University
– Administered by The Scholarship Office (http://www.scholarships.ttu.edu) – Apply through Texas Common Application (http://www.applytexas.org) – February 1 Deadline

• Colleges and Departments
– Some available on department websites – Apply through Texas Common Application

Texas Tech University

SCHOLARSHIPS
•Private Scholarship Searches:
– www.collegeboard.com/pay – www.fastweb.com – www.srnexpress.com – www.petersons.com

•Other Online Resources:
– www.collegefortexans.com

Texas Tech University

Private Scholarship Search (continued)
• Local library for resources
• Local businesses and civic organizations • Parents’ places of employment

Texas Tech University

Red Raider Student Employment Center
Offers assistance with Federal Work Study options for current TTU students
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www.rrsec.ttu.edu Student.employment@ttu.edu

Texas Tech University

Loans
• Types of Loans – Stafford Loans – Parent PLUS – College Access Loan – Alternative

Texas Tech University

Smart Shopping for Additional Assistance
• Information about financial aid scams and tips to avoid being scammed is available:
– Department of Education’s “Looking For Student Aid without Getting Scammed” at:
http://www.studentaid.ed.gov/PORTALSWebApp/students/ english/lsa.jsp

– Federal Trade Commission’s web site at: http://www.ftc.gov/scholarshipscam – Better Business Bureau http://www.bbb.org

Texas Tech University

Summary for Fall 2009
• Awards can be checked online at: www.raiderlink.ttu.edu • Fall financial aid will be disbursed on August 17th.
(pending students financial aid file is compete and students enrollment status)

• First Cancellation for the Fall is scheduled for August 21st

Texas Tech University

Contact Information
Office of Student Financial Aid 301 West Hall Lubbock, TX 79409 (806) 742-3681 (806) 742-0880 fax www.financialaid.ttu.edu

Texas Tech University


				
DOCUMENT INFO
Description: The following presentation is information regarding college loan consolidation, and student loans.