WEBVTT 1 00:00:02.220 --> 00:00:14.880 Esmeralda Garcia: Hi everybody, welcome to our financial aid presentation today. Today we'll be going over how to pay for USF education. Our Office of Financial Aid is located in Lone Mountain main in room 203 2 00:00:15.630 --> 00:00:22.890 Esmeralda Garcia: Here we're providing you with our link always feel free to check out the resources and the financial information that we provide for all of our students and families. 3 00:00:23.160 --> 00:00:36.600 Esmeralda Garcia: We're also providing you with our financial aid email which is financialaid@usfca.edu and we're providing you with our phone number, which is 415-422-3387 so we're going to go ahead and get started. 4 00:00:38.040 --> 00:00:42.690 Esmeralda Garcia: Here at USF, how do we serve our USF students in regards to our student financial services. 5 00:00:42.960 --> 00:00:54.000 Esmeralda Garcia: So our Student Financial Services consists of the financial aid office or Student Employment office and our student account office. Essentially, we all work together to support our students through their USF 6 00:00:54.390 --> 00:01:04.830 Esmeralda Garcia: undergraduate experience and we're here again to provide with different resources such as dispersing funds to students coordinating billing and tuition services. 7 00:01:07.380 --> 00:01:15.030 Esmeralda Garcia: What we'll be covering during this session will be the cost of attendance for the upcoming academic year of 2020 2021 8 00:01:15.780 --> 00:01:21.840 Esmeralda Garcia: We'll also be covering how to apply for financial aid. So looking at the different financial aid application that students could fill out. 9 00:01:22.590 --> 00:01:36.990 Esmeralda Garcia: We're going to be going over how a financial aid award works, what you could potentially be offered and we'll also be covering additional tips, such as the ones you see listed here and we'll be delving into those as well. A little bit later. 10 00:01:38.730 --> 00:01:47.190 Esmeralda Garcia: So now, jumping into the cost of attendance for the upcoming 2020 2021 academic year for undergraduate student population. 11 00:01:47.730 --> 00:02:02.070 Esmeralda Garcia: So here you see our cost of attendance broken down into direct costs indirect costs our direct costs consists of tuition and fees, which you see here for the upcoming academic year will be $52,482 12 00:02:02.490 --> 00:02:10.830 Esmeralda Garcia: And then there's the on campus room and board cost of $15,990 that totals to about $60,472 13 00:02:11.280 --> 00:02:17.580 Esmeralda Garcia: And then at the bottom here, you see our indirect costs listed books and supplies transportation and personal expenses. 14 00:02:17.880 --> 00:02:22.560 Esmeralda Garcia: When your student attends our institution, what we're billing your student for will be tuition and fees. 15 00:02:22.800 --> 00:02:30.960 Esmeralda Garcia: And then room and board if they live on campus. And that's why we call those our direct costs because those are costs we're actually billing you for the indirect costs are costs. 16 00:02:31.440 --> 00:02:40.530 Esmeralda Garcia: That we're letting you your students and your family know that this is what it potentially cost you to buy books and supplies for you to travel from USF. And then from USF back to your home. 17 00:02:40.830 --> 00:02:51.840 Esmeralda Garcia: And then what this potentially could cost in regards to personal expenses, but we're not actually billing the family nor the student for books and supplies transportation and personal expenses. We want you to just keep those costs in mind. 18 00:02:52.440 --> 00:03:03.930 Esmeralda Garcia: When attending our institution again what we bill you for will be then the tuition and fees and then room and board if the student lives on campus. If the student does not live on campus and we're only billing you for the tuition and fees. 19 00:03:05.820 --> 00:03:14.610 Esmeralda Garcia: Now, applying for financial aid, there's three main applications for students could submit for the upcoming academic year of 2020 2021. Excuse me. 20 00:03:15.030 --> 00:03:23.880 Esmeralda Garcia: The first application that a student could submit is the FAFSA, which most students and families have heard of FAFSA, the Free Application for Federal Student Aid. 21 00:03:24.600 --> 00:03:31.470 Esmeralda Garcia: Your student would be applying through the link provided here there studentaid.gov slash h slash apply for a slash FAFSA. 22 00:03:32.370 --> 00:03:49.680 Esmeralda Garcia: The students are eligible to submit a FAFSA, our students who are US citizens or eligible non citizens when submitting a FAFSA, you want to ensure that you're submitting again the 2020 2021 FAFSA, this particular FAFSA will be asking for 2018 tax and income information from the household. 23 00:03:50.760 --> 00:03:57.150 Esmeralda Garcia: The other application that a student can potentially be filling out to be considered for financial aid at our institution is the California Dream Act. 24 00:03:58.020 --> 00:04:04.380 Esmeralda Garcia: The California Dream Act can be filled out at the link provided here which is dream dot csac.ca dot Gov 25 00:04:05.160 --> 00:04:16.170 Esmeralda Garcia: The California Dream Act, who is eligible to submit that application are California residents. So California residents students who identify as undocumented or have DACA status. 26 00:04:16.740 --> 00:04:24.840 Esmeralda Garcia: So essentially if your undocumented California resident and cannot submit a FAFSA, you can potentially be eligible to submit the California Dream Act. 27 00:04:25.170 --> 00:04:34.620 Esmeralda Garcia: And we'll review that California Dream Act to see if you're eligible for any state funding and institutional funding. And then lastly, we also provide at the CSS Profile. 28 00:04:35.220 --> 00:04:40.260 Esmeralda Garcia: The link for the CSS Profile is the cssprofile.collegeboard.org 29 00:04:40.920 --> 00:04:52.290 Esmeralda Garcia: This particular application would be filled out for our out of state undocumented student undocumented student population. So if you're an undocumented student who lives outside of California and is 30 00:04:52.680 --> 00:04:55.590 Esmeralda Garcia: Interested in being considered for institutional aid at USF 31 00:04:55.950 --> 00:05:06.240 Esmeralda Garcia: You would be filling out the CSS Profile. We do want to note though that your students would be filling out one out of these three applications not all three, not a combination of two of them just one 32 00:05:06.600 --> 00:05:17.700 Esmeralda Garcia: And if you're confused about which one you should be filling out, please feel free to reach out to us and we're more than happy to walk you through that conversation and give you some next steps in regards to which application, you should be filling out 33 00:05:19.650 --> 00:05:23.550 Esmeralda Garcia: Now once you fill out these applications. There are a few 34 00:05:24.330 --> 00:05:31.890 Esmeralda Garcia: Different kinds of financial aid that you could be eligible for the first one that you could potentially be eligible for when you submit a FAFSA would be the federal aid grants. 35 00:05:32.610 --> 00:05:48.270 Esmeralda Garcia: The main grant that most of you possibly have heard of when filling out the FAFSA would be the federal Pell grant that a student can be eligible for. To be eligible for the Pell grant, you do need to demonstrate a need to the federal government and you demonstrate that need by 36 00:05:49.470 --> 00:05:54.360 Esmeralda Garcia: By looking at your expected family contribution number that is provided to you once you submit a FAFSA. 37 00:05:55.110 --> 00:06:04.290 Esmeralda Garcia: The annual max award that a student can some excuse me, can be offered in the Pell Grant for the 2020 2021 academic year is 6345 38 00:06:04.800 --> 00:06:13.230 Esmeralda Garcia: And again, that offer is based and closely tied to the expected family contribution number that is given to a student after they submit their FAFSA. 39 00:06:13.800 --> 00:06:22.320 Esmeralda Garcia: The other federal grant student could be considered for is the federal Supplemental Educational Opportunity Grant. The FSEOG grant 40 00:06:22.710 --> 00:06:37.320 Esmeralda Garcia: And again, that's awarded to students based on their need and Pell recipients are usually eligible for this award and the annual max award that a student could be eligible for and the FSEOG grant, it can be up to $4,000 for the academic year. 41 00:06:39.390 --> 00:06:48.120 Esmeralda Garcia: Now when the student also submits a FAFSA, they are also going to be considered for loans loans are also considered financial aid under the federal government. 42 00:06:48.900 --> 00:07:03.240 Esmeralda Garcia: And according to most college and universities across the nation. So looking at the federal loans, a student could potentially be eligible for the Federal Direct subsidized loan and the Federal Direct unsubsidized loan when they submit their FAFSA. 43 00:07:03.690 --> 00:07:14.550 Esmeralda Garcia: A parent also could potentially apply for a parent plus loan and they want to borrow loan funds to help cover their students out of pocket costs bill here in this 44 00:07:15.180 --> 00:07:25.500 Esmeralda Garcia: Chart. Here we're providing you with the different types of loans, so that, again, the Federal Direct subsidized loan and the Federal Direct unsubsidized loans are for both undergraduate students 45 00:07:26.010 --> 00:07:41.370 Esmeralda Garcia: The current interest rate for those loans is 4.53% again, both of those loans are offered to undergraduate students when they submit a FAFSA if a parent chooses to borrow a parent plus on on behalf of undergraduate dependent student 46 00:07:42.000 --> 00:07:48.480 Esmeralda Garcia: The interest rate for that loan and 7.08% of a parent does apply for a parent plus loan, they would apply for it through studentaid.gov 47 00:07:51.420 --> 00:07:57.930 Esmeralda Garcia: Here in this chart. We're providing students and families with the federal loan limits. So here, as you can see 48 00:07:58.920 --> 00:08:11.580 Esmeralda Garcia: The chart is broken down per academic year for the student. And then per if the student is considered a dependent student or an independent student. So if your student is coming to our institution as a freshman in college. 49 00:08:12.300 --> 00:08:18.360 Esmeralda Garcia: They most likely will be eligible for that 5500 amount because they usually are going to be a dependent student 50 00:08:19.200 --> 00:08:26.310 Esmeralda Garcia: The 5500 amount is broken down again. Both into the subsidized and unsubsidized loans. 51 00:08:27.150 --> 00:08:34.590 Esmeralda Garcia: The subsidized loan would be in the amount of 3500 as you're seeing there for the chart. And then the 2000 would be in the unsubsidized loans. 52 00:08:34.920 --> 00:08:39.420 Esmeralda Garcia: The difference between the subsidized and unsubsidized loan is that the subsidized loan. 53 00:08:39.780 --> 00:08:44.700 Esmeralda Garcia: That interest rate that is a accruing on that loan while your student is school is being covered by the federal government. 54 00:08:45.060 --> 00:08:54.270 Esmeralda Garcia: For the unsubsidized loans, the government is not subsidizing that interest. So essentially when your student borrows that loan and that loan disburses into their account. 55 00:08:54.660 --> 00:09:03.090 Esmeralda Garcia: The interest rate or the interest is accruing in that loan the student will be in charge of paying that interest rates back or that interest accrued on that loan back after they graduate. 56 00:09:04.020 --> 00:09:11.220 Esmeralda Garcia: So here again the chart is giving you the breakdown of the loan limits per academic years so first year second year third year and beyond. 57 00:09:11.550 --> 00:09:19.950 Esmeralda Garcia: And again, it's giving you the difference between what it would be for a dependent student to how much they are eligible for versus an independent student which their eligibility is a little bit higher. 58 00:09:22.260 --> 00:09:28.740 Esmeralda Garcia: Your student can also be eligible for federal work study opportunity when they submit their FAFSA. So the federal work study 59 00:09:29.130 --> 00:09:36.390 Esmeralda Garcia: Opportunity is for your students to be eligible to receive a part time job while they're a student here at our institution. 60 00:09:37.110 --> 00:09:44.130 Esmeralda Garcia: Essentially the federal work study program encourages community service work and work related to your students major field of study. 61 00:09:44.880 --> 00:09:50.160 Esmeralda Garcia: To receive federal work study funds your student does need to apply and receive a job start working 62 00:09:50.490 --> 00:09:55.380 Esmeralda Garcia: And when they start working essentially the what they get paid is coming from their federal work study offer 63 00:09:55.770 --> 00:10:06.390 Esmeralda Garcia: And then the funds that you receive or earn from this job are not apply directly towards your tuition your student does get paid the funds directly to them. So your student then decides what to do with those funds. 64 00:10:06.990 --> 00:10:12.930 Esmeralda Garcia: The annual award max amount that students can be offered is 4200 for the academic year. 65 00:10:14.580 --> 00:10:21.240 Esmeralda Garcia: Now for the state aid for here in California. We have the Cal Grant. So this is both going to be for 66 00:10:22.260 --> 00:10:27.180 Esmeralda Garcia: The students who submit a FAFSA and the students who submit a California Dream Act can be eligible for the 67 00:10:27.750 --> 00:10:39.510 Esmeralda Garcia: The Cal Grant offer. So essentially, the California state aid types students can be eligible for are the entitlement award. So those are given to students who come directly to our institution from high school. 68 00:10:39.810 --> 00:10:48.750 Esmeralda Garcia: Or students who transfer into our institution from a two year community college or from another four year institution. And then there's also the competitive award. 69 00:10:49.590 --> 00:10:58.380 Esmeralda Garcia: The Cal Grant and is broken down to Cal Grant A and Cal Grant B so the Cal Grant A you're eligible to receive up to $9,084 for the academic year. 70 00:10:58.740 --> 00:11:19.920 Esmeralda Garcia: For the Cal Grant B recipients, your first year, you get the Cal Grant B access stipend of 1672 after your first year second here at our institution you'll be receiving the access stipend. So the 1672 plus the Cal Grant tuition fee amount of 9084 as well. Essentially, the way the Cal Grant works. 71 00:11:20.970 --> 00:11:26.760 Esmeralda Garcia: What it does is it takes your high school students to have 11th grade cumulative GPA information. 72 00:11:27.150 --> 00:11:38.460 Esmeralda Garcia: And it takes the families income information into consideration when being offered the Cal Grant. So your high school would be sending in that GPA verification information to the California Student Aid Commission's 73 00:11:38.820 --> 00:11:48.990 Esmeralda Garcia: Office who oversees the Cal Grant awarding process and for whatever reason your high school did not send your GPA verification form on your behalf to the California Student Aid Commission office. 74 00:11:49.320 --> 00:12:01.020 Esmeralda Garcia: And you need us to send that on your behalf. You need to ensure that you've completed at least 24 units at our institution for us to be able to do that. But for the most part, your high school counselors will complete that process on your behalf. 75 00:12:03.210 --> 00:12:12.090 Esmeralda Garcia: Now lastly for our institutional this is for students who submit a FAFSA for students who submit a California Dream Act and for our undocumented and out of state students who submit a CSS 76 00:12:12.570 --> 00:12:21.900 Esmeralda Garcia: Profile all those three populations will be considered for institutional aid specifically looking at merit awards and scholarships. Those are determined during the admissions process. 77 00:12:22.200 --> 00:12:30.480 Esmeralda Garcia: And they're based on a need and academic ranks or our admissions office actually is the one to offer students the merit awards. When the student has been admitted into our institution. 78 00:12:30.810 --> 00:12:39.660 Esmeralda Garcia: If you have further questions about the merit awards process how you're offered that how you're eligible. We highly encourage you to speak to our admissions office and team. 79 00:12:40.110 --> 00:12:47.100 Esmeralda Garcia: And then our financial office is reviewing for us institutional aid under the university tuition grant and that grant is 80 00:12:47.490 --> 00:12:57.870 Esmeralda Garcia: Based on the need base that we see in your FAFSA, or in your California Dream Act or in your CSS Profile. If you're an out of state undocumented students. Again, we're basing that off. 81 00:12:58.140 --> 00:13:05.910 Esmeralda Garcia: The financial aid application information that you provide to us. And then based on our institutional resources at the time that you apply to our institution. 82 00:13:07.440 --> 00:13:10.830 Esmeralda Garcia: And the last form of financial aid that you could potentially 83 00:13:11.130 --> 00:13:20.070 Esmeralda Garcia: Use or be offer are private loans, so private loans. There's variable interest rates to these private loans and the limits are determined by the private lender specifically 84 00:13:20.400 --> 00:13:32.850 Esmeralda Garcia: So again, with private student loans. Those are not something that are usually offered to you, that's something that you would usually apply do some research on your end and see who is a good private loan lender to work with. What's a good fit for what you need. 85 00:13:33.360 --> 00:13:41.490 Esmeralda Garcia: Here we're providing you with a chart to compare and contrast the differences between federal student and parent loans versus a private student loans. So these are things that you want to keep in mind. 86 00:13:42.120 --> 00:13:47.880 Esmeralda Garcia: When considering borrowing private loan funds and when having a conversation and do your research with private loan lenders directly 87 00:13:49.800 --> 00:14:00.690 Esmeralda Garcia: Here we're also providing two links for outside scholarships that we provide to students on our website. We have encouraged that you visit both of these links on our website. Essentially, it gives you a breakdown 88 00:14:01.080 --> 00:14:08.280 Esmeralda Garcia: And additional resources to apply for outside scholarships, and it also gives a list of current scholarships that we have had students apply historically 89 00:14:08.550 --> 00:14:17.160 Esmeralda Garcia: And have received. So it's just a good place to start if your student is stuck. It doesn't know how to begin to apply to an outside scholarship or doesn't know where to begin to search for one 90 00:14:19.050 --> 00:14:23.040 Esmeralda Garcia: So some additional tips. So essentially, now we're going to go over 91 00:14:23.880 --> 00:14:37.380 Esmeralda Garcia: viewing your most up to date financial aid award under your my USF self service dashboard. We're going to talk about the FERPA authorization direct deposit health insurance waiver and that's we're going to go over some frequently asked question. 92 00:14:38.400 --> 00:14:51.780 Esmeralda Garcia: So understanding my USF slashed student self service. So a main thing right now something very important is ensuring that your student has access to my USF dashboard to their my USF portal, essentially, and are able to log in. 93 00:14:52.710 --> 00:14:57.720 Esmeralda Garcia: This is a screenshot here, providing you with what the portal will look like once you're logged in. 94 00:14:58.980 --> 00:15:03.780 Esmeralda Garcia: Logging into this portal is important because this is how our institution moving forward will be communicating with your students. 95 00:15:04.080 --> 00:15:16.560 Esmeralda Garcia: There's a Dons email that they will have access to where your student will receive communication from our institution and through this portal is where your student will be able to view and accept their financial aid offer they do decide to attend USF 96 00:15:18.060 --> 00:15:22.950 Esmeralda Garcia: Here we're providing you with some screenshots of where you would find your financial aid offer. Once you're logged in. 97 00:15:23.880 --> 00:15:27.810 Esmeralda Garcia: There's a financial aid tab that you would go to and click on the awards section. 98 00:15:28.590 --> 00:15:37.140 Esmeralda Garcia: On the award section will take you then to the academic year that you want to view which for y'all for this upcoming academic year would be the academic year of 2020 2021 99 00:15:37.560 --> 00:15:44.340 Esmeralda Garcia: You will hit submit and that was then this will take you to this screen this page, the screenshot that you're seeing now. 100 00:15:44.640 --> 00:15:53.520 Esmeralda Garcia: Or go get some general information about your financial aid offer on the second tab under award overview, you'll be able to see your actual offer. So the financial aid offer the USF is providing you with 101 00:15:54.420 --> 00:16:07.350 Esmeralda Garcia: There will be some questions you'll have to answer under the resources additional Information tab that you see marked with a red arrow. After you've answered those questions, the accept award offer the last tab will become available for you to then be able to accept their offer 102 00:16:09.000 --> 00:16:16.560 Esmeralda Garcia: And here, this is what the award overview page will look like when they go here it'll list the cost of attendance for an undergraduate student. Again, the main thing. 103 00:16:16.980 --> 00:16:26.160 Esmeralda Garcia: Where the red arrow is and of accepting award offer is if they then go once they enroll in USF is they go and accept their financial aid offer and they want to accept what's been offered to them. 104 00:16:27.810 --> 00:16:34.530 Esmeralda Garcia: Authorization very important when a student attends a college institution such as ours. 105 00:16:35.490 --> 00:16:45.840 Esmeralda Garcia: Unfortunately, when a parent calls or a family member calls or anyone calls asking for any information on their behalf. We do not release that information immediately to them unless the student has authorized us to do so. 106 00:16:46.440 --> 00:16:53.310 Esmeralda Garcia: So again, the student now has the power to decide who they want to release their information to. And when we say one information. 107 00:16:54.090 --> 00:16:59.880 Esmeralda Garcia: Could be released on their behalf. Only if they give permission that is in regards to financial aid information. 108 00:17:00.180 --> 00:17:05.100 Esmeralda Garcia: Tuition and billing information academic record information and housing record information if they live on campus. 109 00:17:05.340 --> 00:17:11.100 Esmeralda Garcia: So again, if you want to have access to this information. We highly encourage you have a conversation with your student 110 00:17:11.460 --> 00:17:25.080 Esmeralda Garcia: Let them know that they need to include you under their FERPA authorization form through their my USF dashboard to include your name. What's the relationship they have with you. So when you call and you have no issues and we're able to provide you with the needed information. 111 00:17:26.940 --> 00:17:35.790 Esmeralda Garcia: Also direct deposit. If you ever receive a refund. There's an excess of funds due to excess of funds borrowed in a loan or access to funds from an outside scholarship 112 00:17:36.420 --> 00:17:47.280 Esmeralda Garcia: The quickest way to receive that refund is by setting up a direct deposit. Here we're including the instructions for your students to set up that direct deposit. They do need to do this through my USF dashboard when they log in. 113 00:17:48.000 --> 00:17:54.960 Esmeralda Garcia: They would click on the students self service application. And then they would click on student account on the student Account link provided to them. 114 00:17:55.320 --> 00:18:04.860 Esmeralda Garcia: And then from there, go to the direct deposit authorization and enter the requested information. Again, this is the easiest way for them to receive a refund when there's a excess of funds in their account. 115 00:18:07.050 --> 00:18:15.900 Esmeralda Garcia: Health insurance waiver at our institution. It is a requirement for every student who enrolls at USF to have health insurance. 116 00:18:17.040 --> 00:18:21.720 Esmeralda Garcia: Just in case something happens, we want to make sure that our students are medically covered and insured. 117 00:18:22.350 --> 00:18:29.970 Esmeralda Garcia: So if your student already has health insurance under the family and they don't need USF's health insurance, they do have the option of 118 00:18:30.240 --> 00:18:34.590 Esmeralda Garcia: Waiving out of the health insurance and removing that free that fee from their costs. 119 00:18:34.920 --> 00:18:43.440 Esmeralda Garcia: Here we're providing you with the open enrollment waiver period for both fall and spring. So you just want to ensure that your student waives their health insurance before 120 00:18:43.590 --> 00:18:48.690 Esmeralda Garcia: For this upcoming fall, for example, you would want to make sure that your student waives the Health Insurance before September 1st 121 00:18:49.200 --> 00:18:52.500 Esmeralda Garcia: And then for the upcoming spring of 2021 you would just want to ensure that again 122 00:18:52.740 --> 00:18:58.350 Esmeralda Garcia: If you're student didn't waive it in the fall, and they actually didn't need it. They would just wave it again before February 1st 123 00:18:58.560 --> 00:19:12.690 Esmeralda Garcia: If your student waives it in the fall, they only need to waive it in that one time they don't need a waive that each semester. It's a one time thing that they would waive for an academic year. If you have further questions about the health insurance policy at our institution how to waive it. 124 00:19:13.800 --> 00:19:32.100 Esmeralda Garcia: What information is requested, etc. We are providing you with the health promotion services office information or health promotion services team overseas the health insurance at our institution their email is hps@usfca.edu and their phone number is 415-422-5797 125 00:19:33.900 --> 00:19:41.970 Esmeralda Garcia: Now we're going to jump into some frequently asked questions. So some of the questions that we usually get are listed here. And we're just going to go walk through them. 126 00:19:42.480 --> 00:19:46.860 Esmeralda Garcia: A question we get asked often is, what is my expected family contribution EFC 127 00:19:47.130 --> 00:19:52.830 Esmeralda Garcia: So your EFC is provided to you after a student has submitted a FAFSA or California Dream Act, essentially. 128 00:19:53.010 --> 00:19:59.340 Esmeralda Garcia: The federal government for FAFSA, or the California Government for the California Dream Act are looking at all the information you've included in those 129 00:19:59.550 --> 00:20:09.600 Esmeralda Garcia: Financial Aid applications such as household size, assets, adjusted gross income, etc. All the things that are listed in there and based on that information then 130 00:20:09.810 --> 00:20:17.280 Esmeralda Garcia: The federal government or the California Government are saying based on everything you've given us we're expecting that your family can contribute X amount of 131 00:20:17.670 --> 00:20:27.060 Esmeralda Garcia: Dollars or money or X amount of number towards your college expenses. So a lot of colleges use the expected family contribution number when awarding students need based aid. 132 00:20:28.260 --> 00:20:38.430 Esmeralda Garcia: The next question is, why does FAFSA asked for 2018 tax returns slash income information and not 2019 so FAFSA uses what we call prior prior year. 133 00:20:39.150 --> 00:20:48.720 Esmeralda Garcia: Tax and tax return and income information due to the fact that if I'm still wants to ensure you including tax information and income information that is up to date. 134 00:20:49.080 --> 00:20:53.340 Esmeralda Garcia: And correct before FAFSA would ask students to make estimations 135 00:20:53.670 --> 00:21:02.190 Esmeralda Garcia: Of tax return information and income information, it just ended up not giving accurate household information to the federal government. And so they made it a requirement. 136 00:21:02.460 --> 00:21:10.680 Esmeralda Garcia: Now that you would use prior prior year in this case 2018 tax return income information because at this point family should have already filed their 2018 tax returns 137 00:21:10.980 --> 00:21:21.000 Esmeralda Garcia: It will have access to that information, a lot of families still today have not filed 2019 tax information, a lot of them don't have that information handy to fill out an application such as FAFSA. 138 00:21:21.270 --> 00:21:35.010 Esmeralda Garcia: So federal government is trying to make it easier for for students for families and for colleges and universities to be able to assess the household income and tax information and making sure that that information is up to date. Well, when we're reviewing all of that. 139 00:21:36.300 --> 00:21:46.380 Esmeralda Garcia: The next question I have not received a financial aid offer yet, what are my next steps. If you have not received a financial aid offer yet. The first thing is you want to ensure that you've been admitted into our institution. 140 00:21:46.740 --> 00:21:57.180 Esmeralda Garcia: At USF, we will not offer you a rough estimation, or any kind of financial aid unless you've been admitted. So you just want to ensure that that's the first thing you know you've been admitted and you've received an admissions. 141 00:21:58.230 --> 00:22:01.830 Esmeralda Garcia: Application, or excuse me, an admissions offer from our institution. 142 00:22:02.280 --> 00:22:10.200 Esmeralda Garcia: The second thing is you want to ensure that you actually submitted your financial aid application. That you've actually submitted a FAFSA, that you've actually submitted a California Dream Act 143 00:22:10.470 --> 00:22:18.660 Esmeralda Garcia: And then when you submit those applications that you've included USF in those applications. We do get a lot of students and family's who've call and say, hey, my students submitted. 144 00:22:18.990 --> 00:22:25.950 Esmeralda Garcia: The FAFSA already, but we have not received an offer from your school and then they go and review their FAFSA and then they realize, actually, we never included 145 00:22:26.280 --> 00:22:32.700 Esmeralda Garcia: Your school code or school name into our applications. You just want to try to include USF to your applications. 146 00:22:33.000 --> 00:22:40.440 Esmeralda Garcia: Our school code is 001325. So again, just ensuring that you include us in your financial aid applications. 147 00:22:40.890 --> 00:22:49.440 Esmeralda Garcia: The next question is when do I have to start repaying my federal student loans back, you will not have to repay us through federal loans back until after you graduate from our institution. 148 00:22:49.800 --> 00:22:55.890 Esmeralda Garcia: The federal government at that point will give you a six month grace period after you graduate. And then the lower payment process will restart. 149 00:22:56.250 --> 00:23:07.290 Esmeralda Garcia: And if at any point you withdraw completely from the institution without having graduated at that point as well. They would expect you to pay those loans back. So essentially, after you graduated or withdrawn fully from the institution. 150 00:23:08.580 --> 00:23:18.810 Esmeralda Garcia: Next question is, what is Satisfactory Academic Progress SAP so Satisfactory Academic Progress is essentially a policy that says that your student needs to maintain a 2.0 GPA. 151 00:23:19.260 --> 00:23:29.280 Esmeralda Garcia: A 2.0 cumulative GPA to maintain or to be able to to keep their financial aid and they also needed to complete 67% of the credits they attempted during a semester. 152 00:23:29.580 --> 00:23:34.140 Esmeralda Garcia: To keep their financial aid. So this is ensuring that your students basically staying on top of their grades. 153 00:23:34.980 --> 00:23:45.270 Esmeralda Garcia: To be able to keep their financial aid while they're enrolled at our institution. If you have further questions about our Satisfactory Academic Progress policy we highly recommend that you visit our website where it gives you more details on that information. 154 00:23:47.130 --> 00:23:51.540 Esmeralda Garcia: Now, our next question is what happens when my family has had a change in income from job loss or illness. 155 00:23:52.260 --> 00:24:01.620 Esmeralda Garcia: At our institution, there is an appeals process we call it the family contribution appeal. Ehen we're reviewing an appeal, we're reviewing to see if there's been a large 156 00:24:02.250 --> 00:24:11.670 Esmeralda Garcia: Sum or loss of income from one year to the next. We have had students call our office and ask our families that call and say, hey, 157 00:24:12.300 --> 00:24:20.820 Esmeralda Garcia: We lost our job like a month ago we lost our job a week ago. Unfortunately, usually when students call or families call to inquire about that, that is not 158 00:24:21.120 --> 00:24:30.840 Esmeralda Garcia: Be sustained or it's not going to sustain enough for aid to be eligible for an appeal. Again for an appeal, we're looking to see for a large household loss of income. 159 00:24:31.140 --> 00:24:35.940 Esmeralda Garcia: Usually we're seeing that there's been a loss of at least 15 or $20,000 from one year to the next. 160 00:24:36.510 --> 00:24:44.040 Esmeralda Garcia: We're looking to see if there's been high large sums of medical expenses, all of a sudden the family had to pay out of pocket without health insurance coverage. 161 00:24:44.280 --> 00:24:51.840 Esmeralda Garcia: Or have a primary caregiver passed away all of a sudden, and there's been a big shift of income in the household. So again, always, feel free to ask 162 00:24:53.070 --> 00:24:56.820 Esmeralda Garcia: if our office if there has been a change in income from job loss or illness. 163 00:24:57.540 --> 00:25:01.740 Esmeralda Garcia: Based on what is the scenario that is going on, we could give you some next steps to appeal. 164 00:25:01.980 --> 00:25:08.580 Esmeralda Garcia: And also sometimes based on what you tell us, you may not be eligible for an appeal. So you just want to make sure to reach out to us and have that conversation with our office. 165 00:25:09.270 --> 00:25:18.720 Esmeralda Garcia: The next question is how many units or classes will I need to take to use financial aid. You want to ensure that per semester, your student is enrolled at least six credits. 166 00:25:19.110 --> 00:25:26.490 Esmeralda Garcia: Units. To be eligible for any kind of financial aid at six units, your student is considered to be a part time students. So at that point, it'd be receiving 167 00:25:27.120 --> 00:25:34.260 Esmeralda Garcia: 50% of their financial aid. Again, you just want to ensure that you're enrolled at least six credits to be eligible for any kind of financial aid. 168 00:25:34.590 --> 00:25:40.110 Esmeralda Garcia: At 12 units, your student would be considered a full time student here at USF and would be receiving their full financial aid for that semester. 169 00:25:40.950 --> 00:25:51.330 Esmeralda Garcia: The next question, do I need to renew my financial aid application every year. The answer, that is, yes, please do not forget to renew your financial aid applications every year. If you want to be eligible for financial aid. 170 00:25:51.750 --> 00:25:54.090 Esmeralda Garcia: You do need to renew your financial aid application. 171 00:25:54.900 --> 00:26:05.430 Esmeralda Garcia: The next question is then, when do I renew my FAFSA my California Dream Act or my CSS Profile application, you would renew those usually when they become available for you to fill them out again. 172 00:26:05.670 --> 00:26:11.040 Esmeralda Garcia: So for the FAFSA, California Dream Act and usually for the CSS Profile those all happen on October 1st 173 00:26:11.460 --> 00:26:18.210 Esmeralda Garcia: And for continuing students, our priority deadline to submit those applications again to us to be considered for financial aid for the following academic year 174 00:26:18.510 --> 00:26:26.340 Esmeralda Garcia: will usually be march 2nd. So we give you from October 1st to march 2nd to fill those out and renew those applications to be considered for financial aid again. 175 00:26:27.240 --> 00:26:35.730 Esmeralda Garcia: And then lastly, what's the best way to contact the Office of Financial Aid. There are three best ways to get in contact with our financial aid office. 176 00:26:36.030 --> 00:26:45.480 Esmeralda Garcia: The first best way to get in contact with us is to just give us a phone call. You can reach us by phone, by calling for 415-422-3387 177 00:26:46.020 --> 00:26:50.130 Esmeralda Garcia: Any of our financial aid counselors answer the phone will be able to answer your questions. 178 00:26:50.430 --> 00:26:57.390 Esmeralda Garcia: The second best way to get in contact with us is by sending us an email. Again, our email is financialaid@usfca.edu. 179 00:26:57.690 --> 00:27:03.750 Esmeralda Garcia: We're very responsive via email if you would prefer to have something in writing, we're more than happy to give that to you in writing 180 00:27:04.320 --> 00:27:09.540 Esmeralda Garcia: If you had just have a quick question that doesn't necessarily require a phone call that would be also great way to contact us as well. 181 00:27:10.290 --> 00:27:20.280 Esmeralda Garcia: The third best way is by just coming into our office where we're back on campus, we do welcome for students and families to just do a walk in and just walk into our center and meet with a financial counselor. 182 00:27:21.090 --> 00:27:27.570 Esmeralda Garcia: And they just relatively happy to be on campus or it didn't have enough time to book an appointment ahead of time. You're always welcome to do a walk in. 183 00:27:27.990 --> 00:27:33.960 Esmeralda Garcia: And if you prefer to set up an appointment before hand, that is also an option that you can do and then come and see us in person as well that way. 184 00:27:36.360 --> 00:27:42.000 Esmeralda Garcia: Financial aid checklist. So these are some of the things that you should be considering some next steps to keep in mind when it comes to your financial 185 00:27:42.030 --> 00:27:50.490 Esmeralda Garcia: aid. Again, the first thing would be to set up your my USF account, ensuring that you have access to your my USF dashboard is super important. So please, double check that you do have access to that account. 186 00:27:50.970 --> 00:27:58.050 Esmeralda Garcia: You want to review your financial aid offer on your my USF dashboard you want to ensure that you review and complete all 187 00:27:58.530 --> 00:28:01.620 Esmeralda Garcia: outstanding financial aid requirements are listed for you to complete 188 00:28:02.010 --> 00:28:10.530 Esmeralda Garcia: For some students, you may not have any outstanding requirements for others, you may have some so you just want to ensure that if there are outstanding financial aid requirements, you're completing those on a timely manner. 189 00:28:11.100 --> 00:28:14.850 Esmeralda Garcia: The next thing would be to accept or decline your financial aid awards. 190 00:28:15.570 --> 00:28:21.030 Esmeralda Garcia: The best thing to do would be to set up your refund preference. So again, talking about that direct deposit that we went over. 191 00:28:21.360 --> 00:28:31.200 Esmeralda Garcia: And then lastly, you just want to ensure that you you are keeping track of important dates and deadlines. And these are dates and deadlines in regards to your academics, financial aid, billing, and registration. 192 00:28:33.180 --> 00:28:39.960 Esmeralda Garcia: So again, here's our information. One more time. We're providing you with our financial aid link, our financial email, and our financial aid number 193 00:28:40.200 --> 00:28:46.980 Esmeralda Garcia: We're also providing you with our Student Accounts and Student Employment link so you can go visit their websites. For more information on what's student accounts 194 00:28:47.790 --> 00:28:57.150 Esmeralda Garcia: overseas and what student employment overseas. And then we're also providing you with both their emails and phone numbers as well. So always feel free to reach out to the different offices that we work with if you have any questions. 195 00:28:58.530 --> 00:29:08.880 Esmeralda Garcia: And that's it. Again, thank you for joining our financial aid presentation today. We know that financial aid is not always easy to understand, or to navigate. But we're here to ensure that 196 00:29:09.180 --> 00:29:15.360 Esmeralda Garcia: We're guiding you through the process and facilitating this process as much as we can for your family and for your students. 197 00:29:15.720 --> 00:29:25.890 Esmeralda Garcia: Again as questions come up, alway feel free to reach out to us, we're more than happy to help. And again, thanks for listening in and we hope to see all of you here this fall of 2020. Thank you.