MISSOURI WESTERN FINANCIAL AID AND BUSINESS OFFICE Helpi ping you A Achieve you our G Goa oals
Not h t having y g your Finan nanci cial al A Aid i id in place ace WEL ELL B BEF EFOR ORE th the e first d t day o y of cla lass c s cause ses s hi high h le levels of… s of…
Want t nt to o sta tart s schoo ool l str stress-free ee? Complete the following checklist to ensure your finances are in place when school begins.
Sign a Federal Buckley Amendment Form. The PRIV IVACY A ACT T limits what Business and Financial Aid Office representatives are allowed to discuss with parents of Missouri Western students. Stude St dents ma may sig sign a re rele lease allowing us to discuss information with a third party (i.e. parent).
Make su sure ALL r LL required t transc scripts are su submitted t to o the Office o of A Admissions ons. Your final eligibility for financial assistance cannot be determined until all required transcripts have been received and evaluated. TRANSFER STUDENTS Contact Financial Aid TODAY • If your overall GPA is below 2.00; or • If you have not successfully completed at least 67% of the courses you have attempted; or • If you have attempted greater than 135 hours.
Your FAFSA should be submitted as soon as possible after October 1st eve very ye year. Februar ary 1 y 1 st is is the Pr Priorit ity d deadli line to be considered for SEOG, Missouri Western Competitive Scholarships and the Access Missouri Program. You MUST c T complete t e the e FAFSA SA before Missouri Western Scholarships will be disbursed to your account.
Sub ubmit A ALL r requested d documents t to t the F FAO.
Un Understand nd y your our f financ ncial o obligation. on.
Parent PLUS S Loans Borrowers are credit worthy parents of undergraduate students. Fixed interest rate of 7.00%. Origination fee of 4.276% No Grace period. Repayment begins immediately after the loan is fully disbursed. Annual loan limit equals the cost of attendance minus other aid. Parents must complete the PLUS Pre-Approval Application online at www.s .stud udent ntloa oans ns.g .gov.
Need a a job job to h o help fund y d your educat ucatio ion?
Important t thin things t to k kee eep in in min ind… The Federal government sets limits on the amount of money students may borrow - $5, $5,50 500 f for fres eshmen en. Be sure to read y you our a award infor ormation on caref ca efully – many awards require full- time enrollment, etc. There is a 30 30 day d del elay after classes begin before loans funds will be released to first-time freshmen borrowers. Be prepared for ou out-of of-pocket e expens nses like books – around $400 per semester.
Don’t i ignore y e your a r account s statem emen ent. Make e necessa essary p paymen ent a arrange gemen ents. s. Tuit itio ion P Paym yment Plan Plan This plan allows you to take the balance of your account after all financial aid has been applied and make payments during the semester. Th There is a $50 enrollm lment fee PE PER SEMESTE SE TER.
Stat tatements ts wil will be e EMAILE ILED on the the 5th th o of f eac each mont nth w with pa payments d due ue o on t n the 2 20th . . A $ $100 l lat ate e fee will apply if your account is n is not paid paid in full by Financial Aid or other payments; OR OR a Tuitio ion Pa Payme ment P Plan has not been established by the due date.
Don’t be a college dropout opout before ore you even s n sta tart! If you HAVE VE NO NOT T completed your financial aid file AND ND accepted your aid, you MUST enroll in a payment plan or pay in full. If you ou d don on’t you our c classe sses s WILL B BE E dr droppe pped. d. Drop op D Date August 2 23, , 2017
Act ctivate y your Goldlink nk (E (Email ail) A Account. Goldli dlink is s Missou ssouri W West stern’s p primary m method of of communica cating i g impo portant i information to you.
What’ t’s A Available on e on Goldlink? Financial l Aid an and Billi lling Tab ab
Manage ge Your r Accou count nt You m may m make p e payment ents throug ugh Goldlink ink using ing y your c credit it o or debit it card rd. (MasterCard, American Express, Discover, Visa) You m may al also p pay b by c y cas ash o or che heck in the Business Office located in Eder Hall.
My fin My inancia ial aid aid is is more re than than my bal alan ance due… e… If you h If u have e MO MORE AI AID D than you our c cost ost… Up to $750 of your pending Financial Aid will be transferred to your student ID card for use in the campus bookstore. ( Two weeks prior to the first day of class.) Any remaining credit balance funds will be issued the third week of classes. The e fastes est way t to g get et your ref efund i d is by establishing your direct deposit account nt o on n Gold ldlink (prefer erred ed m met ethod).
Fin inancia ial Aid Aid is is an an INVESTM TMENT NT in in your fu futu ture m mad ade e by sources o oth ther than than y your f r fam amil ily…or b by you. SELF-HELP SEL ELP A AID Federal Loans (Low Interest) Employment (FWS/Institutional)
Studen dent Lo Loan ans s - You our person onal i investment. When YOU borrow money to fund YOUR education, you are taking on a VERY SERIOUS OBLIGATION!
Mis issou ouri W Western s stud udent loan oan bor orrowers ar are EXPEC ECTED ED to: utilize loan funds for educational expenses ONLY; understand loan repayment terms/conditions; monitor loan balances; and know who is servicing the loan.
Stu tudent l t loan ans are are re real loans ns—ju just as t as real real as as car ar loan ans o or r mortg tgag ages an and m must t be e rep repai aid. Most li likely ly, you w will ll be mak aking ng student nt l loan an pa payment nts f for th the n next t 10-30 30 years of of y you our li life.
Repayment begins six months after you graduate, withdraw or drop below six hours.
Wha hat’ t’s s the the int nter erest st ra rate? e? Subsid idiz ized Staffor ord L Loans 4.45% 45% Un Unsub ubsidized Staf tafford L Loan ans 4.45% 45% Rat ates are are determin ined e each h year o on J n Jul uly 1st.
Understand the difference between Subsidized and Unsubsidized loans. Subs bsidi dized S d Stude dent Loan ans Are based on financial Unsubs bsidi dized S d Stude dent need; government pays Loan ans the interest while you are in school. Are not based on financial need; you should make interest payments while in school.
Are you accr accruing inter erest st now? If you borrow $5, $5,50 500 0 in unsubsidized funds during your first year in college, your interest payment will be around $20. $20.39 per month. Over 4 years that amount will become $9 $979. 79. making your first year loan debt $6, $6,479 79 plus the interest that will accrue during your grace and repayment period.
Loan debt can add up up fast! Year in School Amt Borrowed Per Year Total Borrowed Freshman Year $5,500 $5,500 Sophomore Year $6,500 $12,000 Junior Year $7,500 $19,500 Senior Year $7,500 $27,000
The he rea reality of of loa oan paym yments! s! If you borrow $27,000 in a 4.45% interest rate Stafford Loan, you'll have to pay $279.17 every month for 120 months - 10 years. By the time you pay back the $27,000 plus interest, you will have paid $33,500! You will need to earn around $42,000 per year to manage this payment. If you borrow $35,000 you will pay $362 and need to earn $55,000 to manage. If you borrow $50,000 you will pay $517 and need to earn $78,000 to manage.
With th tha that t in n mind nd, consider y your ear arnin ings gs p potential ial b bas ased o on y your d degr gree program.
Monitor y your s student loans online.
What t if I don on’t t pay y my y loa oans back? k? Defaul De ult is is the failu ilure t to repay a a lo loan according to the terms of the promissory note. Be aware, there can be serious consequences for student loan defaulters. The entire unpaid balance plus interest will become due immediately and a collection agency will take over your loans…more fees. Your credit history will be damaged ( wrecked ). Your wages will be garnished. Your federal tax refunds and social security benefits will be withheld. You will lose your professional license.
No problem… I’ll just declare bankruptcy. CAN’T DO DO IT IT!! In In most cas ases es F Fed eder eral al s stud udent ent l loans ans ARE N NOT dis ischar argea eable in e in bank ankruptcy.
To h help y you u u understand nd your our student nt loan d debt obligatio tion…
Wha hat t else lse d do o I I ne need t to o kno now? w?
Recommend
More recommend
