The EDGE Program

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The EDGE Program

• UW-Stout Financial Aid Office
• 2008

Amy Styer Cindy Knopps Barbara Cloutier
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Overview
This session will give an overview of
UW-Stouts Financial Aid Office and familiarize
attendees with general financial aid information.
210 Bowman Hall finaid_at_uwstout.edu 232-1363,
fax [phone]
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Outline

• The Financial Aid Office
• Office Staff
• Financial Aid Timelines
• General Financial Aid Information
• Student Employment
• Information for Students
• Questions and Discussion

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Mission Statement

• The Financial Aid Office provides financial
  resources and information to students pursuing
  post secondary education through UW-Stout.

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Enrollment Services Unit
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Financial Aid Office Staff

• Beth Boisen, Interim Director
• Nancy Ninas, Senior Information Manager
• Anita Wiese, Financial Aid Counselor
• Cindy Knopps, Financial Aid Counselor
• Barbara Cloutier, Financial Aid Counselor
• Connie Andrist, Financial Aid Counselor
• Mary Moline, Office Manager
• Julie Schultz, Front Office Staff
• Nancy Giertz, Front Office Staff
• Amy Styer, Systems Processor/Front Office Staff
• Susie Kuesel, Systems Processor/Front Office
  Staff

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LTE Staff

• Kathy Ripienski-Loan processing, counselor
  support
• Amber Andraschko-Verification processing, Back-up
  support.
• Heather Unger- FAFSA processing, Veterans Affairs
  (shared with R R)

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Student Staff

• Currently 8 Student Workers
• Switchboard
• Assist staff
• Special Projects
• Mail Processing and Delivery

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Financial Aid Statistics2006-07 year end

• 7418 FAFSA results
• 33,654 application forms
• 52,841,030 in aid and resources

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Financial Aid Statistics

• 62 of enrolled students
• Average financial aid 7,180
• Average of need met 86

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Average Students Served 2006

• Monthly 3163
• Weekly 730
• Daily 146

19, 213 Telephone contacts 12, 230 Personal
contacts 6, 509 Email contacts 37, 952 Total
For the Year
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Financial Aid Office Timelines
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Timelines

• January
• Students/parents begin completing tax forms
• from the completed calendar year
• Applications (FAFSA) available
• February
• School begins processing of FAFSAs
• Verification of information reported on the FAFSA
  begins
• Stout Foundation Scholarship Deadline (Feb. 15)

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Timelines

• March
• Aid applications available for summer, and summer
  aid awarding begins
• UW-Stouts priority filing date March 15
• April
• Begin awarding aid for next academic year and
  mail/post award letters on Access Stout
• Students begin to return their signed Award
  Letters

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Timelines

• July/August/September
• Contact students regarding master promissory
  notes to new borrowers for Stafford and Perkins
  loans
• Transmit aid to student accounts and generate
  financial aid refunds
• Send refunds to Stout OneCard

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General Financial Aid Information
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Goal of Financial Aid

• To Provide opportunity and access to higher
  education.
• To assist students in paying for college.

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Basic Principles of Financial Aid

• The family has the primary
• responsibility for financing
  post-secondary education.
• Financial aid is the BRIDGE.

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(No Transcript)
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Dept. of Education PINPersonal Identification
Number

• Web site www.pin.ed.gov
• Electronic signature for FAFSA on the web
• Not required, but speeds processing
• Both student and parents can get a PIN

• Delivered by email within 24-36 hours

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Dept. of Education PIN

• FAFSA renewal on the web
• Corrections on the web
• National Student Loan Database
• Signing promissory notes for student/parent loans
  
• Parents can have their info imported onto a new
  FAFSA for siblings

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FAFSA on the Web Homepage
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FAFSA on the Web Worksheet
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There is always the2008-09 paper FAFSA

• 2008-09FAFSA
• Orange for Students
• Purple for Parents
• FAFSA will include
• Return receipt postcard
• Insert
• No new questions
• Questions follow same order as previous year

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Cost of Attendance

• Tuition Fees
• Books Supplies
• Room Board
• Transportation
• Personal/Misc. Expenses

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Expected FamilyContribution (EFC)

• Input Parent(s) and student income and asset
  information
• Federal Methodology
• Result Expected Family Contribution (EFC)

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Definition of Need

• Cost of Attendance
• - Expected Family Contribution
• Financial Need

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Types of Aid

• Gift Aid
• Scholarships
• Grants
• Self-Help Aid
• Work-Study
• Loans

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Grants

• State
• WI Higher Ed. Grant
• WI Undergraduate Minority Retention Grant
• Talent Incentive Program
• WI Indian Assistance Grant
• WI Hearing Visually Impaired Grant

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Grants, continued

• Federal
• Pell Grant
• Federal Supplemental Educational Opportunity
  Grant (SEOG)
• Academic Competitiveness Grant (ACG)
• National Science and Mathematics Access to
  Retain Talent Grant (SMART)
• Reciprocity for Minnesota Students

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Self-Help Aid

• Job Opportunities
• Work Study
• Employment
• Loans
• Perkins
• FFELP
• Direct/Stafford
• Subsidized
• Unsubsidized
• PLUS Loans

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Stafford Loan Program

• Interest rate fixed at 6.8 (changing to 6.0 for
  undergraduate loans first disbursed on or after
  7/01/2008 !)
• Must be enrolled at least half time
• Entrance Counseling
• Subsidized Unsubsidized
• Annual limits for FFELP/Direct Loans
• 3,500 0-29 credits
• 4,500 30-59 credits
• 5,500 60 credits

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Stafford LoanMaster Promissory Note

• Needs to be completed before students receive
  their first Stafford loan.
• Can be done online withPIN from Dept. of
  Education

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Perkins Loan Program

• Need based
• Interest rate 5.0
• Annual limit 4,000
• Maximum of 8,000 awarded to students with less
  than 60 credits

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Additional Loan Programs

• Parent PLUS Loan
• Interest rate fixed at 8.5
• Payment required while student in school
• Can borrow up to COA Financial Aid award.
• Minnesota SELF Loan
• Interest rate variable quarterly
• Quarterly interest payments required while in
  school
• Credit worthy cosigner required
• Can borrow up to 7500 per grade level.

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FAFSA Processing Flowchart
college
1
college
2
CENTRAL
FAFSA
STUDENT
PROCESSING
college
SYSTEM
3
college
SAR
4
EFC
college
5
college
Data
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Wisconsin Higher
base
Educational Aids
Match
Board (HEAB)
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Satisfactory Academic Progress

• To maintain financial aid eligibility students
  must complete 66 of the credits they attempt.
• Students may not receivefinancial aid beyond
  150 of their program length.

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Scholarships (www. .com)
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(No Transcript)
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Student Employment
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Student Employment

• On-campus Work Study and state payroll.
• Off-campus Job Locator and Development Program.

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On-Campus Employment FAO Responsibilities

• Print work authorizations and supporting
  documents.
• Maintain student employment website
• Update/remove job postings
• Set, monitor and maintain the campus work-study
  program the back-end.

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State Payroll Eligibility

• Academic year- Any student enrolled for a
  minimum of 1 class/1 credit during a semester.
• WinTerM- only students meeting the AY criteria,
  and attending the entire AY are eligible.
• Summer-
• a) A student enrolled in the summer
  term.
• b) A student who attended in spring, and
  will be
• continuing in fall not a
  graduate, nor
• dismissed after the spring
  semester.
• c) A new student, accepted for fall
  term.

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Work-study Eligibility

• Students who have been awarded work-study
• a) filed a FAFSA
• b) demonstrated need per FAFSA.
• c) requested work-study in
  application process.
• AND

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Work Study (cont.)

• Academic year Students must be enrolled at a
  minimum half-time status.
• Winterm AY requirements, enrolled for both fall
  and spring terms.
• Summer
• a) Student must complete a summer
  financial aid application.
• b) Must maintain at least 3 credits
• during summer session.

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Work Study Statistics

• 2006-2007 earnings for Work Study totaled
• 700,845 with 679 students employed.
• 2006-2007 earnings for State Payroll totaled
  3,432,958 with 2031 students employed.

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Sample Payroll

• October A (2007) payroll had 1339 student
  employees.
• Approximately 982 were Work Study.
• Total payroll was 202,561.
• Median wage per hour was 6.52.

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Student employment web site http//www.uwstout.edu
/student/jobs/

• Can be accessed through the employment link on
  the stout home page.
• Easy navigation for students and supervisors.
• Great resources available for supervisors.

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Work study the back endFAO office management
of work study

• Work study funding is part of the campus
  financial aid package from the federal
  government each fiscal year.
• Utilizing past years information, and the
  availability of funds, the FAO determines the
  work study budget for the fiscal year.

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• Budget information is sent to
• Administration Student Life
  Services
• Academic Student Affairs
• Chancellors Division
• Each division determines their annual work study
  budget. Results submitted to Budget, Planning
  and Analysis.

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• FAO
• Posts the final product on the employment page.
  Continues to monitor work-study budget throughout
  fiscal year.
• Sends students work-study information to Madison,
  bi-weekly information update.
• Receives, prepares and disseminates the
  work-study balance report to on campus
  supervisors.

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Job Locator and Development Program

• Started in 2000-01.
• Off-campus job vacancies posted.
• Helps find jobs for all students regardless of
  Work Study eligibility.
• Per 2007 JLD report over 150 jobs posted, total
  earnings of over 950,000 reported!

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Financial Aid Information for Students Access
Stout Refunds and One Card
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• Check Your Paperwork Status
• - Paperwork required
• - Award letter ready
• Print award letter
• - Print, signed and returned as
  valid acceptance
• of financial aid award.

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Financial Aid Refunds

• and the Stout OneCard

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Billing

• The Student is billed per semester/term.
• Billing includes tuition, fees, room and board,
  etc.
• A Statement Of Account is sent to the student
  prior to the start of a semester, and does not
  show financial aid credit.
• Effect Frantic phonecalls to FAO!!

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The Process
Financial Aid credits the students account via
electronic transmittal or paper check.
OSBS will send an e-mail notification when an
electronic transmittal occurs. This isnt a
notification of their refund. Stout OneCard will
send e-mail notification to the student upon
receipt of funds.
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The students charges are paid first. When the
students bill equals a zero balance, any excess
funds generate a
Refund
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Where is my money?!The types and timing of
refunds

• Stout OneCard
• 3rd Party ACH
• Paper Check

• By 500 pm on the day that funds are forwarded to
  Higher One.
• Within 2-3 business days after Higher One
  receives funds from UW-Stout.
• 7-10 business days after Higher One receives
  funds from UW-Stout.

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REFUND OPTIONS

• Stout OneCard
• (Recommended method of disbursement.)
• Fastest method of receipt.
• MasterCard debit card, can be utilized for
  payment wherever MasterCard is accepted.
• No fee ATMs on campus allow student to withdraw
  up to 500.00 per day.

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3rd Party ACH

• The Student must complete an Automated Clearing
  House form,designating their desired financial
  institution, and return it to HigherOne.
• To expedite the process and save on postage, the
  student can drop the completed documents at a
  HigherOne drop box.
• There are two HigherOne drop boxes
• Student Information Center (MSC)
• Admin Building- East entranceway

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Paper Check

• Students choose this method when they prefer to
  receive their refund in a paper form.
• Checks are mailed to the primary address the
  student entered during card activation.
• Students must make address changes prior to
  disbursement at
• www.UWStoutOne.com.

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Statistics!

• Activated users
• Stout OneCard
• Paper Check
• 3rd Party ACH
• No Preference

• 23,094
• 13,395 (58)
• 7,159 (31)
• 1,617 (7 )
• 923 (4)

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Helpful stuff!

• OneCard Office [phone]
• OneAccount Services (877) UWS-ACCT (897-2228)
• Stout OneCard Website www.UWStoutOne.com
• Campus Card office www.uwstout.edu/campuscard/

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Questions and Discussion