Education is Affordable at UNM

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Education is Affordable at UNM
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What Is Financial Aid?

• Scholarships
• Grants
• Loans
• Student Employment opportunities

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Financial Aid is Available

• from the following
• Federal government
• State of New Mexico
• University of New Mexico
• Tribal agencies
• Scholarships

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Free Application for Federal Student Aid (FAFSA)

• The Dept. of Education compiles student and
  family information used to calculate the
  students Expected Family Contribution (EFC)
• File the FAFSA on the Web at www.fafsa.gov
• UNMs priority filing date is March 1st

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FAFSA on the Web Worksheet

• FAFSA Worksheet
• 10-page booklet
• Print to use as a pre-application worksheet
• Questions follow order of FAFSA on the Web
• FAQ is available within the worksheet
• Requires a PIN to sign on-line
• www.pin.ed.gov

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www.fafsa.ed.gov

• File online
• Use the worksheet
• Obtain your pin number

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Information Needed for FAFSA Worksheet

• Social Security Number
• Taxed and Untaxed Income
• Family information
• File your taxes as early as possible
• You may use estimated tax information to meet the
  priority date

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Expected Family Contribution

• The Expected Family Contribution (EFC) is used
  to determine your eligibility for financial aid.

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Cost of Attendance

• Tuition and Fees
• Room and Board
• Books and Supplies
• Transportation
• Miscellaneous
• Costs vary between universities

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What is Financial Need?

• Cost of attendance
• minus
• Expected family contribution
• equals
• Financial need

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UNM VC Undergraduate Budget 2010/2011
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Grants

• Does not have to be paid back
• Usually awarded on the basis of financial need
• Federal Pell Grant
• Federal Supplemental Educational Opportunity
  Grant
• State Student Incentive Grant (SSIG)
• UNM Legislative Grants

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Loans

• Money students and parents borrow to help pay
  educational expenses.
• Repayment usually begins six months after
  graduation
• Subsidized Stafford
• Unsubsidized Stafford
• Parent Loan (PLUS)

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Student Employment
Allows students to earn money to help pay
educational costs

• Workstudy (Need No-Need)
• Requires FAFSA
• Student Employment
• No FAFSA needed

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Student Employment Website
http//www.unm.edu/wsestudy/
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Satisfactory Academic Progress

• Federal regulations require that students
  maintain satisfactory academic progress.

• 2.0 Cumulative GPA
• 67 Completion Average
• 150 of required degree hours

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Scholarships

• Eligibility requirements vary
• May require FAFSA
• Deadlines and application procedures vary
• Where can I find scholarships?
• Internet www.fastweb.com
• Scholarship Office Scholarship binder
• Check with your tribal higher education office

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Legislative Lottery Scholarship

• Pays tuition only
• Begins 2nd semester
• No application required
• Requirements
• NM Resident
• Graduate of NM High School or NM GED
• Full-time student
• Minimum 2.5 GPA

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http//www.unm.edu/unmvc/finaid/finaid.htm
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LoboWeb
Enter LoboWeb through https//my.unm.edu
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Self-Service - LoboWeb
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Important Web Sites

• Financial Aid
• https//my.unm.edu
• http//www.unm.edu/unmvc/
• Scholarships
• http//www.fastweb.com
• Loan Counseling and Promissory notes
• https//studentloans.gov
• FAFSA on the Web
• http//www.fafsa.ed.gov

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