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Financial Aid Application Process for 2011-2012

Financial Aid Application Process for 2011-2012. Presented by… The HUB Assistant Directors Spring 2011. Presentation Purpose. To highlight what is the same and different about the financial aid application for 2011-12 To ensure that CMU students know resources and who to contact.

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Financial Aid Application Process for 2011-2012

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  1. Financial Aid Application Process for 2011-2012 Presented by… The HUB Assistant Directors Spring 2011

  2. Presentation Purpose • To highlight what is the same and different about the financial aid application for 2011-12 • To ensure that CMU students know resources and who to contact

  3. Undergraduate Financial Aid Basics • Students must complete the application process in order to be considered to receive financial assistance. • Most undergraduates are “dependent” students and will need to involve their parents. • After the application process is completed, students receive a financial aid award letter.

  4. Overview: Application Process • Where to Start: 2010 Tax Returns & W2s • FAFSA • CSS PROFILE • IDOC • Attestations • Summary of Changes • Other Important Topics • Questions

  5. Application Process Comparison

  6. Step 1: Gather Important Information • Student & parent 2010 signed federal tax returns • Student & parent Wage Tax Statements (all W2’s, 1099’s) • Self-employed or business/farm owner? (schedules) • Parent housing status (i.e. own, rent) • Personal Information including student’s Social Security # • Other information…..

  7. Step 2: FAFSA • Complete FAFSA at www.fafsa.gov • Carnegie Mellon University Code - 003242 • Get pin at www.pin.ed.gov Note: Heinz or Tepper School graduate students use unique codes on the FAFSA; all others use the CMU code 003242

  8. Step 3: NEW CSS PROFILE • Online application to be considered for institutional aid funds • Complete PROFILE at https://profileonline.collegeboard.com • Used by Undergraduate Admissions and most peer institutions • Questions? Contact Customer Service Support at 305-829-9793 • (8 a.m. to 10 p.m., Monday thru Friday, January – April) • FAQs at http://www.cmu.edu/finaid/undergraduate/css-faq.html

  9. CSS Profile: 3-step Process • Register • Tailored to student’s family situation • Based on registration answers, some CMU-specific questions • Complete • Customized pre-application worksheet and instructions • Online help • CSS Profile has “smart” features to minimize mistakes • Submit • Date & time

  10. CSS Profile: Fee & Acknowledgement • Fee • Application fee of $9 plus $16 for each college = $25 • Pay by credit card (VISA or MasterCard), debit card or online check • 2. Acknowledgement • Record of payment • Provides next steps • Print copy Note: Last day to file 2011-12 PROFILE is January 17, 2012

  11. Step 4: IDOC • What is IDOC? • Institutional Documentation Service (IDOC) • Purpose: collection of all tax documents and required supplemental forms (ex: CMU’s NCPC form) • 2. Instructions • College Board sends email to student • IDOC Cover Sheet is electronic and available on the IDOC website, https://PROFILEonline.college.collegeboard.com • Student will use personal info to access IDOC cover sheet • Note: Mail one complete packet with cover sheet to IDOC by April 18, 2011 (priority deadline) • FAQs for CSS Profile on the web

  12. Step 5: Attestations • Log onto Student Information Online (SIO) (www.cmu.edu/hub/sio) using student Andrew ID & password • Hover over ‘Finances’ and click on ‘Financial Aid Status/Award’ (be sure Aid Year 2011-2012 is selected) • Under the ‘Miscellaneous’ category, click on ‘Financial Aid Attestations’ • Note: Student will be notified via e-mail when financial aid award letter is on SIO.

  13. Attestation & Permission Screens

  14. Financial Aid Application Status and Award Letter screen in SIO

  15. Note: This is a PDF file that you can print and/or e-mail. Note: The student award letter is not mailed home.

  16. Application Process Comparison

  17. SIO Finances Tab • A comprehensive site for student finances • Student Account Invoices • Student Account Activity • E-bills • E-pay and E-refund • Financial Aid • Financial Permissions • 1098-T (IRS – US tax filing document)

  18. Federal Direct Student Loans Reference website: www.studentloans.gov New applicant for Federal Direct Student Loan? Complete…. • Master Promissory Note (MPN) • Entrance Counseling • Did you use Federal Direct Student Loans in 2010-11? • New MPN and Entrance Counseling not needed Effective July 1, 2011: • Subsidized interest rate = 3.4% • Unsubsidized interest rate = 6.8%

  19. Resources • HUB Website – www.cmu.edu/hub • College Contact Model – Who? When? Where? • Go to www.cmu.edu/hub/hours.html or SIOResources • Student Information Online (SIO) – www.cmu.edu/hub/sio

  20. Questions?

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