|
|
|
||
|
|||
What is Financial NEED?
Need is defined as the difference between the cost of education and what the parents and student might reasonably be expected to contribute to college costs. This contribution (Expected Family Contribution or EFC) is determined by using the federal methodology as administered by the U.S. Department of Education. The EFC is calculated based on data provided on the Free Application for Federal Student Aid (FAFSA). The figure determines a student's eligibility for need-based financial aid only.
Due to limited funding the University of Connecticut is unable to meet 100% of a student's established financial need. Therefore, a predetermined amount will be subtracted from a student's need prior to awarding financial aid.
Application for all need-based financial aid programs begins with submission of the FAFSA. UConn uses only the FAFSA for the awarding of federal, state, and University funds.
Mail early enough after January 1 so that your FAFSA is received at the federal processor by the deadline of March 1. Applications not received and logged in by March 1 will be considered late. Please note that on-time status will not be determined by postmark dates or postage receipts, and late applicants will be considered only for Federal Pell Grant and Federal Stafford Loan funds. Do not wait for final income tax figures. Use estimated figures if necessary to ensure "on-time" application status. If requested, be prepared to send copies of federal tax returns for yourself and your parents to the UConn Office of Student Financial Aid Services.
Read the instructions carefully and answer all the questions. List 001417 under "Federal school code," and the University of Connecticut under "Name of college." In the "College street address and city" space, list Storrs. Indicate CT in the "State" space.
If you are a transfer student and you attended another college or university in the semester just prior to enrolling at UConn, please submit a paper Financial Aid Transcript from that school to the UConn Office of Student Financial Aid Services. FAT forms are available at any college financial aid office and must be submitted whether or not a student received financial aid at the previous institution.
The Office of Student Financial Aid Services mails an award notification to you which indicates the types and amounts of aid offered and asks you to accept or decline each award, then return your reply copy. Be prepared to follow through with any additional requests for information.
Verification is the federal process which requires the comparison of data reported on the FAFSA with income tax returns and other requested documents. The Office of Student Financial Aid Services will notify you if you have been selected to submit income documentation.
Satisfactory Academic Progress (SAP) Guidelines
SAP is the University policy based on federal regulations which requires that all aid applicants maintain a designated grade point average (GPA) and satisfactorily complete a percentage of the number of credit hours attempted in each award year. A complete text of this policy is available from the Office of Student Financial Aid Services.
An excellent, detailed source of information regarding federal aid programs and the financial aid process is The Student Guide, available at the University of Connecticut Office of Student Financial Aid Services, 233 Glenbrook Road, U-116, Wilbur Cross Building, Room 25, Storrs, CT 06269-4116, (860) 486-2819. If you have access to the Internet, please visit our web site at: http://www.ucc.uconn.edu/~wwwfaid
An additional brochure, Financing Your UConn Education, which contains pertinent information specific to UConn's financial aid programs, is also available from the Office of Student Financial Aid Services.
If you have any questions or need assistance, contact the office. Please have your social security number available when calling. A Client Services staff member will assist you.
Federal Stafford Loans (FSL) are offered to students attending the University at least half-time. "Subsidized" FSL eligibility is based on financial need. Interest is subsidized by the federal government. If a student does not qualify for a subsidized FSL, he/she may borrow an "Unsubsidized" FSL. The student is responsible for the interest which accrues on the loan and has the option to either pay the interest while in school or defer payment of the interest until principal payments begin six months following graduation.
Annual loan limits for dependent undergraduate students are: $2,625 for freshmen (0-23 credits), $3,500 for sophomores (24-53 credits), $5,500 for other undergraduates (54+ credits). Eligible independent undergraduate students may receive up to $4,000 additional Unsubsidized FSL in the first and second years, and $5,000 additional Unsubsidized FSL in the third year and beyond.
Students requiring less than an academic year to graduate will have eligibility prorated in accordance with federal regulations.
Federal Perkins Loans are offered to eligible full-time students. These funds are awarded in classification order. Typically all funds are exhausted after freshmen and sophomore classes are awarded. These funds must be repaid.
Federal Parent Loans for Undergraduate Students (PLUS) enables parents with good credit histories to borrow for each dependent child who is enrolled at least half-time. The yearly loan limit is the cost of education minus any financial aid a student receives. If a parent is denied a Federal PLUS Loan (documentation required each academic year), the dependent student would then be eligible to receive an additional Unsubsidized Federal Stafford Loan.
Both FSL and FPLUS are made copayable to the student/parent and the University of Connecticut and disbursed in at least two payments. Four percent is deducted from the amount borrowed (1% insurance and 3% origination fee).
Alternative Loan Options If need-based financial sources are not sufficient to cover a student's educational expenses, a variety of alternative loans options are available.
Federal Pell Grants are offered to qualified students pursuing their first undergraduate degree. They do not require repayment.
Federal Supplemental Education Opportunity Grants are offered to full-time undergraduates with exceptional financial need (typically Pell Grant recipients). They do not require repayment.
University Grants and Tuition Remission Grants are offered to eligible full-time undergraduates pursuing their first undergraduate degree. These funds do not require repayment.
University of Connecticut Scholarships are offered to incoming students through the Office of Admissions. These are merit-based and all students are considered according to grade point average, SAT scores and rank in class. The Office of Admissions notifies students if they are eligible for any of these awards. Upper class students with high academic achievement should inquire at their academic departments for scholarships within their field of study. The University of Connecticut Foundation and Alumni Office also offer numerous scholarships. Applications can be obtained by contacting their offices directly.
Please note: if a student receives any award or scholarship from a local high school or other outside agency, he/she must notify the Office of Student Financial Aid Services in writing. The student's financial aid package may be subject to change.
Federal Work Study (FWS) is a federally funded financial aid work program for students with a demonstrated financial need. Unlike other forms of financial aid, a Federal Work Study award is not applied to a student's fee bill; students receive bi-weekly paychecks for hours worked.
Students awarded Federal Work Study may work in positions at the Storrs and regional campuses or at approved campus, non-profit, state, municipal or federal agencies. Off campus Community Service positions are also available.
The Student Labor Program is a work program open to all University of Connecticut students and is designed to supplement regular staff with students seeking part-time employment.
The Office of Student Financial Aid Services advertises available positions through a job referral system. Students identify their job choices and are given a list of supervisors seeking candidates for those jobs. Students then arrange interviews with prospective employers to discuss the details of the job.
For more information about part-time employment contact the University
of Connecticut Student Employment Staff, 233 Glenbrook Road, U-141, Wilbur
Cross Building, Room 25, Storrs, CT 06269-4141, (860) 486-3474. For a complete
listing of on campus jobs, you can access our web site at:
www.ucc.uconn.edu/~wwwjobs
Veterans Administration Educational Assistance and Tuition Waiver Program
The Office of Student Financial Aid Services provides information concerning benefits under the various educational assistance programs provided by the Veterans Administration. Students who attend the University and receive educational assistance under the following chapters must contact the Office of Student Financial Aid Services prior to the beginning of each semester: Chapter 31 (Vocational Rehabilitation Training Act for disabled veterans); Chapter 35 (Dependents Educational Assistance Act: children, wives, and widows of totally disabled and deceased veterans - service connected deaths); Chapter 1606 (Montgomery G.I. Bill _ Selected Reserve); Chapter 30 (Montgomery G.I. Bill -Active Duty). Veterans must notify the Office of Student Financial Aid Services every semester of their registration for certification of enrollment. In addition, any changes in veteran status (credit load, withdrawal, number of dependents, etc.) must be reported.
Additionally, veterans may qualify for a tuition waiver under the State of Connecticut tuition waiver program. Veterans must provide a certified form DD214 (separation of service) and must be recognized as a minimum one year resident of Connecticut at the time of admission or readmission to the University. Please see the tuition waiver criteria in the Fees and Expenses section of the Catalog.
Veterans seeking fee waiver applications or assistance should contact
the Office of Student Financial Aid Services, 233 Glenbrook Road,
U-116, Wilbur Cross Building, Room 25, Storrs, CT 06269-4116, (860) 486-2819.
|
|
|
||
|
|||