HBU Online Spring Financial Aid Webinar

Good afternoon everybody. Thank you for joining us for this financial aid web and R. My name is Josh Wade and I am the associate director of online student financial services.

Wanna take just a moment before we get started to say please feel free throughout the web and R to ask questions. Definitely want to dress as many of those as possible. However there will be time for questions at the end of the web and R and will select a few then.

To talk over OK.

So.

Let me explain where we're going. Uh, we're going to talk about the Fasa.

Entrance counseling.

Master promissory note loans that you could be eligible for what's verification. How to set up campus logic. How to accept your aid and how to become financially settled at HB you.

So FAFSA entrance counseling in master promissory note are three of the most essential things that you can do in this process. Obviously, the FAFSA is the free application for federal student aid. This is the application that the Department of Education in HP you uses.

To determine your award package.

Each October 1st.

This becomes available so for an example the 2021 school years FAFSA opened.

On October 1st of 2019.

And the information that's used to complete a FAFSA.

Is 2 years prior tax information. So for the 2021 school year you would be using the 2018 tax return.

That way you don't have to wait to file your taxes. They should already be completed.

You can complete this two ways. The most common way.

Is just by visiting fafsa.gov. However, the Department of Education at the beginning of this year debuted.

An app that allows you to complete your FAFSA on your cell phone or tablet. My student aid.

App, uh, it's an incredible resource. I got to see this first hand at a Department of Education Conference. Incredibly user friendly, so you kind of have two different ways to go about it. So once you've completed your FAFSA, you need to move on to entrance counts in a master promissory note. Entrance counts in this kind of like. Think of it as a quiz that just reiterates.

Hey, you are taking out a loan that needs to be repaid to provide for your educational expenses.

The master promissory note.

Is signing on the dotted line? If you've ever signed the contract, this is where your signature goes. This says I do intend to pay you back and I'm responsible to do so.

Completing these two things is important to be student loan eligible, then have those funds dispersed on your account coming. Hopefully this fall.

But maybe next academic year as well. Is the informed borrower tool. This will be an additional step.

Which will cover more in depth once that is released for students to complete in the future.

So everyone always asks how my gonna pay for school.

For the online student, a majority of your your package will be loans, so we'll talk about in this next section.

The types of loans that you can qualify for, but also some of you may be selected for verification, so will cover what that means. When the Department of Education select you for verification.

So the types of loans that you can be eligible for. Subsidized loans are loans that the government pays the interest while you're in school. These are non credit based loans.

Unsubsidized loans are.

Loans that the government does not pay interest on while you're in school yet again. A non credit based love.

For undergraduate students, parent plus loans are credit based that allow your parents to help you with your educational expenses. For graduate students. Grad plus loans allow you with a credit based loan at 2.

Help pay for some of those educational expenses. If you reward package still has room in it.

Both undergrad and grad students can apply for private loans.

These are also credit based loans and help round out the award package as well.

Before we move on from loans, I want to cover a couple of things here at Houston Baptist University.

If you were to be registered for full time, which is 12 credit hours, an undergraduate program?

You would receive two disbursements, one in the first sub term, one in the second sub term, and those disbursements would occur 14 days after the start of class.

I just want to explain that a little bit so that everyone is aware of how those disbursements payout at HB you.

Now we've covered loans. We've covered how you can afford to pay for educational expenses. Let's talk about verification. If your selected for verification by the Department of Education, you will be.

Uh, informed by this on your award letter, or you can also check this in your Husky net account.

Just a couple examples of some paperwork that may be required by financial aid to complete your verification process would be the IRS 1040's.

That's the document that is used to help you file your taxes or statement of number in household.

Those are two very common ones. There's multiple other.

Documents that we could request, but those are the ones I see most often.

Campus logic, so we just spoke about verification. The way to get those documents sent into the school through your Husky net account is a software system called campus logic. You can access this through student forms.

In your Husky net account, what I want to walk you through a little bit.

Is how to set that up? If you were to be selected for verification and want you to be able to get those documents in as fast as possible, an as accurate and timely as possible. So if you were to see on the backside of that award letter that there are documents needed by HP, use financial aid Department, you could easily access this.

Or set up your account.

By going into Husky net, clicking on eligibility.

Financial aid tab and making sure that you selected the correct aid year. Sorry, award year.

Incident forms you'll see.

Hbu.verifymyfasa.com

Through that you may be re routed to submit forms electronically through student forms that will be.

Showing up as a link towards the bottom of your screen.

All you need to do to set up.

Your campus logic account is just follow the prompts.

Once you've clicked on student forms an it will allow you to set up your account. Here's a caveat.

For our dependent students, your parents.

That need to sign certain forms will actually need to set up their own individual accounts as well, so please make sure that if you're dependent student.

You go through this a dish.

So step.

OK, so we've talked about verification. We've talked about setting up campus logic.

Now you're at the step.

Where you've been offered an aid package, so let's talk about how to accept that a package.

We're going to pause for just a moment.

I know this webinar will be available online later for resource, but if you're attending today, please take the time. Take a photo of this.

Uh, screen if you would like. These are the steps on how to accept your award.

Access your Husky net account.

Hit the financial aid tab.

Select Award Award for eight year.

Yet again, make sure you're selecting the appropriate award deer and then submit. You'll see your award package and you'll go through the tabs. I've provided some screenshots.

Coming up soon.

To kind of show you an familiarize you with those steps, this would be how you would access your Husky net account for the first time.

This would be selecting the financial aid tab and the award.

Select award for eight year.

Then, like I've been saying, make sure that you select the Rite Aid year.

And this gets you to the award package screen.

See the tabs I was referring to General Information. Award overview.

Resource, additional information, terms and conditions except your award and special messages.

At this point, you'll move through each tab.

Completing everything that's needed to be completed on each tab to be able to accept your award. It's very important that each tab is filled out and sequential order to be able to accept your award.

They would ever view shows you what you'll be offered for spring and fall.

If you're one of our students that elects to go in the summer, you would also be able to see summer, fall and spring.

Resource in additional information. Very important screen.

This asks you 3 questions that will help.

The cashier's office determine what to do with your refund.

Very important to answer. All three of those questions with how you would like for them to process your refund.

For those of you that are new to online learning or Higher Education, a refund would be the excess leftover after all of your educational expenses have been paid.

And you have some access that can be refunded for additional educational expenses outside of things that can be placed on your account.

Finally, accept the terms and conditions.

Before going on to accept your award.

OK, up to this point we've talked about.

Completing the FAFSA completing entrance counseling master promissory note. What types of loans you can be eligible for?

What might the verification process look like giving you a couple examples of documents that may be required?

Setting up campus logic and accepting your aid.

Financial settlement.

Is another important aspect.

Of completing the process. So if you were to be in need of setting up a payment plan.

We will show you and then next couple steps.

So here's another screen that we can take a moment. Allow people to take a picture with your phone if you would like yet again, remember this will be online as a resource later.

But you will go into your Husky net account.

Click the student tab.

And then go to HBU.

Make a payment payment plan.

I've also provided some screenshots of this as well.

See selecting the student tab there at the top and then going down to the HP you make a payment payment plan option.

You click continue and this will take you out to a software system that the cashier's office uses called touch net. Here's where you will complete financial settlement. Select a payment plan that best fits your needs and see those charges show up.

Here's what the screen will look like when you are.

Uh, selecting the enroll in payment plan option.

We provided a list of payment plan options that you qualify for and we have a variety of month options. Notice here and it'll be in a couple other screens as well. The set up fee is $50.00 for all payment plans.

Here's an example of the Seven month payment plan.

Additional terms and conditions.

Filling out appropriate information for that profile.

And allow me to point out a couple other things before you rap up with payment plans.

Payment plans are easy to enroll in online.

Mike, I noted earlier.

Each payment plan has a $50 enrollment fee. However, if you wait past the census date, which is 12 days after.

Class starts that feed us. Go up to $75.

As you saw from previous screen, there are variety of month options. Obviously, the earlier able to get into a payment plan the more month options you have.

But additional options can be inquired about with the.

Cashier's office.

Also, I'll note that automatic monthly credit or debit transactions do occur once you've selected.

Uh, the payment plan option that best fits your needs.

OK.

So.

Now is the time for questions.

Alright, I see that our first question here is how often do I need to complete a fast? So that's a very good question.

The FAFSA needs to be completed.

Each academic year.

Student Center in rolling now for summer and or fall for the 2020-2021 academic year.

Like I mentioned in a previous slide, have been able to complete that path so since October the next academic year, so 2120 twos FAFSA will become live this coming October. And that's a process that you'll need repeat.

Each year, great question.

Next question.

How long does the FAFSA process take?

The faster process, if we're Speaking of how long does it take to complete the FAFSA? That can be anywhere between 15 and 20 minutes. Obviously, if you're renewing a FAFSA from a previous academic year, they're going to auto populate a lot of that information.

And, uh, get you going faster now if we're talking about how long does it take to process once it's been submitted to get to the school on average? That is 3 to 5 business days.

During non peak times I've seen fast as come in as fast as two to three business days.

On average, I tell everyone across the board roughly 3 business days. Once you've hit submit.

It ought to be at HB you. That was a great question. OK question #3.

How do I know if I need to take out a loan and How do I know how much I need to take out? Wow, that's a very very good question.

I would like to say.

First of all, that's more of your comfort level.

If you want to take out a loan, the Department of Education Education provides the option through the FAFSA process.

As far As for how much.

To take out.

There are.

Um?

Certain for an undergraduate student.

The subsidized loan would start at $3500.

And go to $5500 from freshman to senior year.

As a dependent student.

You would be eligible for $2000.

In loans and unsubsidized loan, each academic year of your undergrad or as a graduate.

I apologize, a independent student would be eligible for additional unsubsidized loan during their undergrad.

For our graduate students.

The bulk of them will be available, will be eligible for $20,500 each academic year. So when you're looking at how much loan to take out, you would look at the cost of tuition, fees, books, that sort of thing and then see if you are eligible for scholarships, grants. Those sorts of things and then the remaining amount would need to be.

Covered by loans.

If that was the Ave that you would want to pursue now before we move on from that question, I do want to address something else.

Loans.

Is something that has to be paid back by the student, so therefore you have the right as the borrower to reduce that Mount. So let's say for instance.

We package you with a $5000 loan and you only need 1500.

You have the right as the borrower to contact the financial aid office and reduce that to only what you need.

Um?

I want to put that out there so that everyone understood that that that is a right that every borrower has.

So let's move on to another question.

Are there any campus based scholarships or grants available for PhD students?

There are a few campus based scholarships. Those scholarships would need to be pursued through your academic Department, 'cause they're usually awarded by the Dean.

Or a?

Club or organization. That program has an agreement with.

But as far as.

A scholarship

Um?

A standard issue scholarship our a grant from the federal government. Unfortunately, no, there isn't 14 PhD students.

But there are options like I said, through your degree program or your Department, you would just need to contact the right person.

OK, we've got about a 3 minutes left, so I've got time for about two more questions.

We've got if I applied for the summer 2020 semester, does the financial aid that is awarded for the spring?

Also.

Apply to the summer semester OK.

Very good question.

At HBU

Summer is the header to our academic year, so spring ends are academic here. If you were eligible for aid or awarded Aiden Spring.

That's the last term that you'll be able to.

Receive that aid. That's why it's important that you complete the FAFSA for the next academic here, especially if you're going in the summer.

So you can get that award.

Packaged for the next academic year, which would be starting in summer. OK, last question. Is there financial aid available at HP you for a foreign student? This is a very good question.

There.

Is.

Some aid available, however, that would need to go through.

The.

Uh.

I think it's the I think their name is the foreign.

Foreign student or foreign affairs. Admissions office.

Those types of.

Aid would be brokered through them. Obviously for eligible noncitizens.

A federal aid can be provided, and.

There are additional resources out there for foreign soon, so that's that's a great question. Alright, well, thank you so much for joining us today for the online financial aid web and R again. My name is Josh Wade.

And if you need to contact us, please feel free to email us at onlinefinancialaid@hpu.edu and feel free to call us 8554281960 option 4. Hope you have a wonderful wonderful day.