Husker Hub Transfer NSE Presentation

Husker Hub Staff Author

09/23/2020 Added

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Presentation for Transfer NSE providing insight in how you can pay for college. We will go over frequently asked questions regarding scholarships and financial aid.

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[00:00:01.400]Hi everyone, my name is James LaPointe
[00:00:03.680]and I am a Student Services Specialist in the Husker Hub.
[00:00:07.450]Hi, my name is Richelle Saalfeld
[00:00:09.410]and I am the Training Coordinator in the Husker Hub.
[00:00:12.610]And today we're here to help you pay for college.
[00:00:16.270]So we'll go ahead and get started with understanding what
[00:00:19.020]the Family Educational Rights and Privacy Act of 1974 is.
[00:00:23.300]This is oftentimes referred to as FERPA.
[00:00:26.550]So college students, you have the access
[00:00:28.480]and control over your own educational record.
[00:00:30.980]And who has access to your financial aid package,
[00:00:35.340]to your grades and to all of your personal information.
[00:00:38.840]So if you want to have your parents
[00:00:40.720]be able to speak with us on Husker Hub,
[00:00:43.070]please make sure you're providing written consent
[00:00:45.180]through your MyRED portal under the Profile tab.
[00:00:48.550]For more information parents,
[00:00:49.940]you can visit ferpa.unl.edu/parents.
[00:00:54.950]But we'll go ahead and look
[00:00:55.960]at that estimated cost of attendance.
[00:00:57.930]What does it cost to attend
[00:00:59.620]the University of Nebraska-Lincoln?
[00:01:01.650]Many of you are starting at UNL,
[00:01:03.950]for the first time this spring semester.
[00:01:05.920]So your charges will actually be 50%
[00:01:09.010]of what's located on this specific slide.
[00:01:12.530]So for tuition and fees for our resident students,
[00:01:15.130]it is $9,690 per academic year.
[00:01:19.900]So you can take about 50% of that,
[00:01:22.130]if you're a first semester and your only semester,
[00:01:24.360]this year is for the spring semester.
[00:01:28.000]Non-resident students or anyone from outside
[00:01:30.300]of the state of Nebraska,
[00:01:32.140]your tuition cost is $26,820 for the academic year.
[00:01:36.960]So again, 50% of that.
[00:01:38.870]And these figures are based on 15 credit hours per semester
[00:01:43.010]at the base UNL tuition rate.
[00:01:45.660]For our room and board, we estimate that students
[00:01:48.350]will have expenses of about 12,186.
[00:01:52.990]So this is the cost that is to live on campus,
[00:01:56.560]in a traditional style residence hall.
[00:01:59.220]But it is also the same cost that we estimate
[00:02:01.320]for off campus housing.
[00:02:03.310]So our estimated direct costs,
[00:02:05.200]which means what is billed to you,
[00:02:07.240]through your MyRED portal would be $21,876
[00:02:12.170]for Nebraska resident students for the year
[00:02:14.880]and $39,006 for non-residents for the year.
[00:02:18.980]So again, only 50%, if this is
[00:02:21.690]your very first semester for spring 2020.
[00:02:24.630]But alongside the direct cost,
[00:02:27.110]we also have some estimated indirect expenses,
[00:02:30.340]which includes books and supplies.
[00:02:32.410]So we have a $1,000 allowance
[00:02:34.410]for both residents and non-residents.
[00:02:36.920]And for personal transportation,
[00:02:38.870]we have $3,310 for both residents and non-residents.
[00:02:43.750]So we get a lot of questions about what is included
[00:02:46.200]in personal and transportation expenses.
[00:02:48.900]So for personal, it can be really anything
[00:02:50.940]from toothpaste, doing laundry, going to the movies
[00:02:54.150]with friends or eating out every once in a while.
[00:02:57.080]Where the transportation expenses includes,
[00:02:59.250]the cost of a parking permit,
[00:03:01.240]general maintenance on your car
[00:03:02.930]and traveling to and from home on breaks.
[00:03:05.620]So our total estimated cost of attendance
[00:03:08.060]for Nebraska residents is $26,250
[00:03:12.420]and non-residents is $43,380.
[00:03:16.600]And this is before any scholarships or financial aid
[00:03:19.140]has been applied to these expenses.
[00:03:21.430]And what's important to know for our tuition and fees,
[00:03:24.400]there is a tuition freeze at UNL for the next two years,
[00:03:28.370]so you can expect these tuition expenses to look the same.
[00:03:33.690]All right, so moving on to paying for school.
[00:03:37.830]The first in the financial aid process,
[00:03:40.080]is making sure that you get a FSA username and password.
[00:03:45.960]So students, you would want to obtain
[00:03:48.120]FSA username and password.
[00:03:50.030]And you can get that ID online at fsaid.ed.gov.
[00:03:55.320]And then also any students who have parents as well,
[00:03:59.830]they would need to go ahead and claim,
[00:04:03.790]FSA username and password as well.
[00:04:06.620]You would need to have these in order to file
[00:04:08.710]the FAFSA online at fafsa.gov.
[00:04:11.460]And it's really important for any students
[00:04:14.500]and parents who are planning on completing
[00:04:16.760]the FAFSA to make sure that you claim
[00:04:18.880]these FSA username and passwords,
[00:04:21.020]at least three days before you actually complete the FAFSA,
[00:04:25.650]because it takes that long to actually obtain
[00:04:28.180]those usernames and passwords.
[00:04:32.100]Moving on, so scholarships here at the university.
[00:04:35.460]A student can receive a merit-based scholarships
[00:04:38.720]and leadership and diversity scholarships.
[00:04:41.040]So this could be for academics, talents, leadership,
[00:04:43.940]and financial need, et cetera.
[00:04:46.490]And then moving on to opportunities to apply later.
[00:04:49.320]We'll actually talk about
[00:04:51.940]the continuing scholarship application,
[00:04:54.150]that is available to students after their first semester
[00:04:57.790]here at the University of Nebraska,
[00:05:00.470]later on in our slideshow.
[00:05:03.460]And then moving on to Grants.
[00:05:04.880]So as students, in order to be eligible
[00:05:07.890]for any types of grants, either state
[00:05:09.810]or institutional grants, you would need
[00:05:11.840]to get the FAFSA completed.
[00:05:14.060]And with these, there's the federal aid,
[00:05:16.490]there's state aid again, and the university aid,
[00:05:20.240]when it comes to the grant.
[00:05:22.580]These are funding that doesn't have
[00:05:25.920]to be paid back as a student.
[00:05:27.690]So that sometimes is a misconception
[00:05:30.340]with a lot of our students and parents,
[00:05:31.780]is that they think that the funding
[00:05:33.930]that they receive is money that they have the payback
[00:05:35.970]and you do not have to repay it.
[00:05:39.280]Moving on, the Federal Work-Study.
[00:05:40.720]So Federal Work-Study, the very first thing
[00:05:42.990]that's important is, it's not credited to a student's bill.
[00:05:46.180]So a student can be eligible up to $3,500
[00:05:50.710]in Federal Work-Study.
[00:05:52.230]However, that funding never actually
[00:05:55.910]gets dispersed to a students account.
[00:05:58.490]And the way it works is that it's assumed
[00:06:01.960]they actually indicate on their FAFSA,
[00:06:03.340]that they're interested in Federal Work-Study.
[00:06:06.050]And then once they indicate that,
[00:06:08.550]it notifies the university and we go ahead
[00:06:12.380]and put that funding out there for the students,
[00:06:15.700]if they choose to accept that or not.
[00:06:19.150]And these are, in order to receive the funding,
[00:06:21.880]a student has to apply for federally-funded jobs on campus.
[00:06:25.840]And a student would work every,
[00:06:28.950]when a student works every two weeks, they are paid.
[00:06:31.350]However, for the spring 2021 year,
[00:06:34.610]I just wanna make sure that students
[00:06:36.730]are aware that the funding is limited.
[00:06:39.240]So if you do, or you are interested in FAFSA,
[00:06:42.950]just make sure that you select that,
[00:06:44.970]on your FAFSA application.
[00:06:50.680]So other than those gifts forms of aid.
[00:06:53.280]So there's grants, scholarships and Federal Work-Study,
[00:06:55.670]that James mentioned, we also have,
[00:06:58.820]student and parent loan options.
[00:07:01.070]So for students, there are two different loan options.
[00:07:04.170]There's the Subsidized and Unsubsidized,
[00:07:06.210]Federal Direct Loans.
[00:07:07.640]And for parents, there is the parent PLUS loan.
[00:07:11.130]So for students, the Subsidized Loan
[00:07:13.470]is what is called the good loan.
[00:07:15.190]It is the type of loan that does not accrue interest
[00:07:18.220]while you are enrolled in school.
[00:07:20.110]Whereas the Unsubsidized Loan,
[00:07:22.050]it does accrue interest while you're in school.
[00:07:24.800]So this year it is at a historic low.
[00:07:27.300]That interest rate is a 2.75 fixed percent.
[00:07:31.510]So that won't go up or down as through
[00:07:34.360]that lifetime of that loan.
[00:07:36.420]But for the Subsidized and Unsubsidized Loan,
[00:07:38.650]students you are the borrower for this loan.
[00:07:41.210]So it will be your responsibility,
[00:07:43.030]to pay this loan back after you graduate
[00:07:45.950]or fall below half-time enrollment.
[00:07:48.820]So the eligibility for these loans
[00:07:50.770]is determined by the completion of the FAFSA.
[00:07:53.810]But the amount is typically around $5,500
[00:07:57.210]for first year students.
[00:07:59.180]As a sophomore, you're eligible for 6,500
[00:08:02.850]and as a junior or a senior you're eligible for 7,500.
[00:08:07.230]So no co-signer is needed for these loans.
[00:08:09.720]All you need to do is accept them on your MyRED.
[00:08:12.040]And we'll talk about that a little later
[00:08:13.660]in this presentation as well too,
[00:08:15.270]where you can do that.
[00:08:16.840]But repayment for both of these loans,
[00:08:18.760]start six months after your graduation,
[00:08:21.510]or if you enroll in less than six credit hours,
[00:08:24.040]which is half time enrollment.
[00:08:25.210]So you don't have to worry about making
[00:08:26.720]any payments on these loans,
[00:08:28.420]as long as you're enrolled in a minimum of six credit hours.
[00:08:32.550]if you are a very first time student loan borrower,
[00:08:36.010]you do need to complete the Master Promissory Note
[00:08:39.250]and Entrance Counseling at studentaid.gov.
[00:08:42.600]So your Master Promissory Note is just your contract,
[00:08:45.320]your agreement to pay these loans back after you graduate.
[00:08:48.510]Where Entrance Loan Counseling
[00:08:50.110]is a little self-paced online class.
[00:08:52.610]It takes about 20 to 30 minutes to complete.
[00:08:55.230]Just to get you familiarized with the loans.
[00:08:57.430]It goes over a lot of the information,
[00:08:59.190]that we touched on and this specific presentation,
[00:09:01.960]but it's more generated towards you,
[00:09:04.790]since they ask about your borrowing plan.
[00:09:09.520]And for parents there is,
[00:09:11.500]what is called the parent PLUS loan.
[00:09:13.150]And that eligibility is also determined by
[00:09:15.740]the Free Application for Federal Student Aid or the FAFSA.
[00:09:19.170]And it is offered as the parent PLUS loan option.
[00:09:22.190]So, what's really important to know
[00:09:24.170]about this loan, is that students cannot accept
[00:09:26.780]this loan on MyRED for you.
[00:09:28.720]Because it does require a separate application,
[00:09:31.100]as you the parent are the borrower.
[00:09:33.380]It will be the parent's responsibility
[00:09:35.330]to pay this loan back,
[00:09:36.830]and it cannot be transferred to the student at any point.
[00:09:40.220]So that separate application
[00:09:41.730]can be completed at studentaid.gov.
[00:09:44.620]And it is contingent based on a credit check,
[00:09:47.330]to take this loan out.
[00:09:49.470]for parent PLUS loan, a Master Promissory Note
[00:09:51.640]is also required for this,
[00:09:53.320]by the parent who applied for the loan.
[00:09:55.410]So students don't complete this one.
[00:09:57.370]It is the parent who fills out that application.
[00:10:00.270]And it can also be done at studentaid.gov.
[00:10:02.910]And we recommend beginning the process,
[00:10:04.670]as soon as possible for one of these parent PLUS loans,
[00:10:07.200]since it takes about two weeks for us to process.
[00:10:10.110]And we want to avoid any delays as much as possible.
[00:10:15.150]All right, so moving on to checking MyRED.
[00:10:17.710]Students, once you are able to get into your MyRED portal
[00:10:21.680]and actually take a look around,
[00:10:23.710]you'll see a home screen just like this.
[00:10:26.420]In order to view your financial aid offer,
[00:10:29.220]once an offer has been given to you,
[00:10:32.240]you would want to go ahead and click on Financial Aid.
[00:10:35.140]And then there in the red box there towards the bottom,
[00:10:39.410]the Financial Aid, that is where you
[00:10:42.170]would view your financial aid.
[00:10:43.960]And then once we go onto the next page here.
[00:10:47.740]This is the page that would open up to you.
[00:10:51.180]And then in order to actually accept
[00:10:53.370]or decline any of your awards that you are being offered,
[00:10:56.570]you must click on the blue button,
[00:10:59.600]that's outlined in the red rectangle there,
[00:11:03.290]to accept or decline the award.
[00:11:07.660]So the next big question that we often get
[00:11:09.550]here in Husker Hub is when will
[00:11:11.240]my financial aid disburse to my bill.
[00:11:13.920]So for the spring 2021, we are still working out
[00:11:17.290]some details of exactly when financial aid will disperse.
[00:11:20.680]And we are now offering a three week session,
[00:11:24.040]at the beginning of January.
[00:11:26.100]But that spring 2021 bill will not be due,
[00:11:28.880]until February 12th.
[00:11:30.560]So you will start seeing some of these charges,
[00:11:32.880]show up on your bill as early as December,
[00:11:36.000]but just know that you are not required
[00:11:37.820]to make any payment on this before February 12th.
[00:11:41.440]And your spring financial aid will be disbursed
[00:11:43.940]before that billing due date.
[00:11:46.050]We usually see that financial aid
[00:11:48.030]is dispersed approximately one week
[00:11:49.810]before all full length, regular special classes begin
[00:11:53.810]and any funds that exceed your charges.
[00:11:56.060]So if all of your financial aid pays everything
[00:11:58.600]that you owe to the University of Nebraska-Lincoln,
[00:12:00.930]then that can be refunded to you if you have any excess.
[00:12:04.410]So you can use that if you're living off campus,
[00:12:06.720]to pay for your rent, buy groceries.
[00:12:08.980]But you can also use it for those personal
[00:12:10.780]and transportation expenses that we mentioned earlier.
[00:12:14.230]And if you are anticipated to receive a refund,
[00:12:17.150]we highly encourage signing up for direct deposit in MyRED,
[00:12:20.780]under the Student Accounts tab.
[00:12:22.720]Since it is a much quicker and safer method,
[00:12:25.530]of getting your refund.
[00:12:26.530]It takes about three to five days,
[00:12:28.130]to get your refund through direct deposit.
[00:12:30.540]Compared to five to 10 business days through the mail.
[00:12:37.180]All right, so next year's FAFSA opens up,
[00:12:41.000]this year, this fall October 1st.
[00:12:43.810]So students can begin to actually complete,
[00:12:46.520]the FAFSA at this time
[00:12:49.400]and using the 2019 tax information.
[00:12:53.110]Now, during the spring semester,
[00:12:58.100]if you have not submitted a FAFSA,
[00:13:00.880]you would want to make sure that you're having,
[00:13:02.880]that FAFSA sent to the University of Nebraska-Lincoln.
[00:13:05.930]Some of you may have already completed it,
[00:13:07.810]but it might be going to a different institution.
[00:13:09.900]And that's okay, you just need to go back in
[00:13:11.840]and make sure it's being sent to the University of Nebraska.
[00:13:15.340]The priority deadline for the best aid package possible
[00:13:19.410]is April 1st of 2021.
[00:13:22.040]So just make sure you have the FAFSA submitted beforehand.
[00:13:25.690]And then that way, if there are any checklist items,
[00:13:30.160]that we're requesting from
[00:13:31.350]the Office of Scholarships & Financial Aid.
[00:13:33.970]Anything from the household size forms,
[00:13:36.430]to tax information like W-2s or returns,
[00:13:40.030]you have all of that,
[00:13:41.300]or you have enough time to get that all submitted,
[00:13:43.280]prior to that April 1st deadline.
[00:13:48.228]So James had mentioned the opportunities
[00:13:50.060]to apply for scholarships later on,
[00:13:52.100]and this is exactly what this is.
[00:13:53.690]It's the scholarship application
[00:13:55.410]for continuing undergraduate students.
[00:13:58.100]So this is due February 1st of each year.
[00:14:01.310]So if you are starting in the spring 2021 semester,
[00:14:04.310]you are still eligible to complete
[00:14:06.030]this scholarship application.
[00:14:07.970]It will be located on your MyRED portal,
[00:14:10.610]under the Financial Aid tab.
[00:14:12.170]So it becomes available in mid November,
[00:14:15.700]but again, it's due February 1st.
[00:14:18.290]So we highly encourage completing that as soon as possible.
[00:14:22.230]Making sure you complete it by that deadline,
[00:14:24.100]because once that February 1st deadline passes,
[00:14:26.500]we can't open that application up again.
[00:14:29.480]We also encourage looking into
[00:14:31.180]other scholarship opportunities,
[00:14:32.840]through your local communities
[00:14:34.310]or organizations that you may be a part of.
[00:14:37.050]But we also have a list of external scholarships,
[00:14:40.140]that are available on our website.
[00:14:42.490]If you are interested in looking
[00:14:44.150]into any of those other opportunities.
[00:14:46.300]But those are usually national opportunities,
[00:14:48.730]where lots of students can apply for them.
[00:14:50.760]But we encourage applying for as many scholarships
[00:14:53.420]as possible because you never know what you're gonna get.
[00:14:57.820]All right, and so here is our contact information.
[00:15:01.130]If any of you would like to contact us,
[00:15:03.260]we are available via phone, email.
[00:15:07.210]Otherwise we do have our new Husker Virtual Queue,
[00:15:11.190]that is opened up to students.
[00:15:12.600]So once you actually receive a new ID number,
[00:15:16.890]you'll be able to log in to huskerhub.unl.edu.
[00:15:20.770]And at the very top of the home screen,
[00:15:22.960]you'll be able to view the information
[00:15:24.870]about the Virtual Queue.
[00:15:25.960]We definitely encourage you to join the Virtual Queue,
[00:15:29.320]especially during this time when students
[00:15:31.810]may be uneasy of coming into the office.
[00:15:34.220]This is a good way to meet
[00:15:35.450]with any of us specialists, via zoom.
[00:15:38.620]So it's definitely there for your use.
[00:15:41.760]Our office is actually open in
[00:15:44.260]the Canfield Administration Building as well.
[00:15:47.270]So if you would like to stop in, in-person,
[00:15:49.700]you can definitely do so as well.
[00:15:52.093]All right, well that concludes our presentation.
[00:15:55.060]So thank you so much for joining us today
[00:15:57.100]and don't hesitate to let us know if you have any questions.

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Husker Hub Transfer NSE Presentation

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