Financial Aid 101: Top 5 Tips NSE Presentation

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05/12/2025 Added

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[00:00:00.440]Hi, my name is Rachelle Soffeld, and I am the Training Coordinator and Interim Associate Director in Husker Hub.
[00:00:06.120]Thank you for joining us for our session, Top 5 Things to Know About Your Financial Aid.
[00:00:11.160]Husker Hub is where students go to handle the business of being a Husker.
[00:00:14.940]At Husker Hub, business is more than just paperwork.
[00:00:17.680]It's about making college manageable, meaningful, and sustainable for each student.
[00:00:22.260]We provide services related to course registration, academic transcripts, student bills, scholarships, and financial aid.
[00:00:30.080]If you're ever unsure where to go, we're a great start to get you in the right direction.
[00:00:34.580]Our staff are trained in active listening and to recognize when to connect a student with deeper support.
[00:00:40.500]We're proud to help students solve problems, see possibilities, and feel supported.
[00:00:45.340]Students aren't alone in their educational journey, and we believe that every interaction matters.
[00:00:51.260]Our session, The Top Five Things to Know About Your Financial Aid, will cover how to apply for financial aid,
[00:00:57.720]types of aid, common mistakes, scholarship renewal information, and how to apply for scholarships in the future.
[00:01:04.820]Students apply for federal financial aid by completing the Free Application for Federal Student Aid, or the FAFSA.
[00:01:13.020]At the University of Nebraska-Lincoln, our priority FAFSA filing date is May 1st.
[00:01:18.640]If you haven't filed yet, it's not too late.
[00:01:21.120]You can still submit your 2025-26 FAFSA, and we encourage you to do so as soon as possible.
[00:01:26.700]Filing by our priority date helps ensure you're considered for as many financial aid options as possible,
[00:01:33.160]including some types of funding that are limited and may run out.
[00:01:36.880]That said, some of those funds may still be available, so get your FAFSA in now if you haven't already.
[00:01:43.120]We have a QR code on the screen that links directly to the FAFSA at studentaid.gov.
[00:01:48.880]Feel free to scan it now if you need to file your FAFSA.
[00:01:51.100]Once you've submitted your FAFSA, it typically takes about two to three weeks to receive your financial aid offer.
[00:01:57.860]Be sure to check your MyRed account regularly in case we need any additional information to finish processing your aid offer.
[00:02:05.300]Keep in mind, many federal and state financial aid programs have enrollment requirements.
[00:02:11.220]For most aid to disperse on time, students must be enrolled in at least 12 credit hours per semester, which is considered full-time for undergraduate students.
[00:02:20.860]If you're planning to take fewer than 12 credit hours, please chat with Husker Hub first to understand how this may affect your financial aid.
[00:02:28.140]Also, be sure to check in with your academic advisor to make sure your schedule aligns with your academic goals.
[00:02:34.800]For more information about financial aid requirements, students can review their rights and responsibilities in MyRed by going to the Financial Aid tab and selecting the Accept-Decline Awards from the drop-down menu.
[00:02:48.040]We're here to help,
[00:02:50.840]so don't hesitate to reach out if you have any questions along the way.
[00:02:53.700]If you've received your financial aid offer, you might be wondering about the different types of aid included and what they mean.
[00:03:01.640]Let's go through the main aid types offered through the FAFSA.
[00:03:05.160]Grants are often the first type of aid students see, and the best part is they're free money that doesn't have to be repaid.
[00:03:13.100]There are three types of grants, federal, state, and institutional, from the university.
[00:03:18.680]Most grants are based on financial need
[00:03:20.680]which is determined by the information you submitted on your FAFSA.
[00:03:25.400]Federal loans are borrowed funds that can help cover tuition, fees, housing, and other college expenses.
[00:03:32.200]There are student loans and Parent PLUS loans, which parents can apply for separately.
[00:03:37.620]The good news is that most federal loans don't require repayment until six months after a student graduates or drops below halftime enrollment.
[00:03:45.400]Federal loans also typically have low fixed interest rates.
[00:03:49.340]The interest rates for the 2025-26 school year will be announced by the end of June.
[00:03:54.760]Just remember, loans must be repaid with interest, so it's important to borrow only what you need.
[00:04:00.880]If you are offered federal work-study, that means you're eligible to apply for part-time paid jobs, either on or off campus.
[00:04:09.940]These jobs are designed to fit around your class schedule, with students typically working 10 to 20 hours per week.
[00:04:16.740]Unlike grants or loans,
[00:04:19.320]Work-study funds do not go directly to your student bill.
[00:04:22.140]Instead, you earn that money by working in a position, and the funds are paid directly to you.
[00:04:27.760]Work-study jobs aren't assigned.
[00:04:31.140]You'll need to apply for them through Handshake, UNL's job platform for students.
[00:04:36.180]It's a lot like LinkedIn, where you can create a profile, upload your resume and cover letter, and apply for jobs.
[00:04:43.200]There's even a filter in Handshake to show only work-study eligible positions.
[00:04:48.180]And yes, Husker Hub is hiring work-study students for the 2025-26 year, if you're interested in joining our team.
[00:04:55.840]To get started, visit unl.joinhandshake.com.
[00:05:00.440]If you were not selected for the federal work-study program, there are plenty of other on-campus jobs posted in Handshake that offer the same great flexibility.
[00:05:09.820]These roles are student-friendly, with schedules built around your class, limited evening and weekend hours,
[00:05:17.040]and locations right here on campus.
[00:05:19.280]To help make the start of the academic year as smooth as possible, we strongly encourage all students to regularly check their MyRed account.
[00:05:29.040]Sometimes additional information is needed before financial aid can be processed or released,
[00:05:34.520]and your MyRed account is the best place to find out what's still required.
[00:05:38.240]The number one reason for delays in financial aid disbursement is incomplete to-do list items.
[00:05:45.160]You can find these in MyRed under the Message Center.
[00:05:47.920]Some common reasons you might see a checklist item include missing or incomplete information
[00:05:54.020]on your FAFSA, the need to verify your identity, corrections required on your FAFSA, or a request
[00:06:01.300]for additional information from a parent or guardian.
[00:06:03.940]Each item on your to-do list will include a brief description of what's needed, but
[00:06:09.880]if anything is unclear or if you're unsure how to complete a request, please don't hesitate
[00:06:15.020]to reach out to Husker Hub.
[00:06:16.360]We're here to help you get everything submitted so your aid is ready when you need it.
[00:06:21.360]Two of the most common to-do items that can delay financial aid disbursement at the beginning
[00:06:27.680]of the year are Entrance Counseling and the Master Promissory Note.
[00:06:31.660]If you're planning to borrow federal student loans and it's your first time doing so, you'll
[00:06:36.540]need to complete both items.
[00:06:38.220]Entrance Counseling is a short interactive course that helps you understand what it means
[00:06:43.100]to take out a federal loan.
[00:06:44.880]And you'll learn how loans and interest work, what your repayment options are, and how to
[00:06:50.280]avoid things like missed payments or default.
[00:06:52.520]It's there to make sure you know your rights and responsibilities as a borrower.
[00:06:57.000]The Master Promissory Note, or MPN, is a legal agreement that says you promise to repay your
[00:07:03.980]loans plus any interest and fees.
[00:07:06.160]It also outlines the terms and conditions of your loan, so it's important to review
[00:07:11.100]it very carefully.
[00:07:11.960]Both Entrance Counseling and the MPN
[00:07:14.740]can be completed online at studentaid.gov, and together they take about
[00:07:19.960]an hour to complete.
[00:07:21.240]The good news is that once you complete them, they're usually valid for up to 10
[00:07:25.400]years, so you won't need to redo them each year.
[00:07:27.740]Another way to help avoid delays in receiving your financial aid at the start
[00:07:33.720]of the semester is to enroll in direct deposit.
[00:07:36.380]If you joined us for our other session, this may sound familiar,
[00:07:39.780]but here's just a quick recap: scholarships and financial aid begin to
[00:07:43.560]disbursing about one week before the semester starts for students who have completed all their
[00:07:48.140]to-do list items and meet their enrollment requirements. If the amount of aid you receive
[00:07:53.680]is more than your student account charges, the extra funds will be issued to you as a refund.
[00:07:58.980]The refund can be used for other school-related expenses like books, supplies, or living costs.
[00:08:05.540]We highly recommend setting up direct deposit through your MyRed account. This is the fastest
[00:08:10.720]and most secure way to receive your refund. Paper checks take longer and can be delayed,
[00:08:16.040]so enrolling in direct deposit helps you get your money without the wait. To set it up,
[00:08:21.420]just visit go.unl.edu/directdeposit for more detailed instructions.
[00:08:26.980]If you do receive a refund, plan ahead for expenses like textbooks, groceries,
[00:08:32.740]or other essentials throughout the semester.
[00:08:34.860]Parents, if you are planning to use the Federal Parent PLUS Loan to
[00:08:40.680]help cover your student's college costs, there are a few important items to keep in mind.
[00:08:45.760]Even though the Parent PLUS Loan may appear in your student's MyRed account,
[00:08:49.720]it can't be accepted there. Instead, the parent who plans to borrow the loan
[00:08:54.700]must complete the Parent PLUS Loan application at studentaid.gov.
[00:08:58.700]As part of the application process, a credit check is required.
[00:09:02.680]You will know right away whether the loan is approved.
[00:09:06.100]If the loan is denied, there are still a few options. You can
[00:09:10.640]reapply with an endorser or someone who agrees to repay the loan if you can't.
[00:09:15.440]You can appeal the credit decision or choose to have your student receive an additional
[00:09:20.560]unsubsidized loan in their name instead. If the loan is approved, you'll also need
[00:09:26.100]to complete a master promissory note. This is your official agreement to repay the loan.
[00:09:30.680]That's also done at studentaid.gov. There's one more decision to make.
[00:09:35.920]Who will receive the refund if the loan creates one? You'll choose the
[00:09:40.600]during the PLUS loan application process. If you select to have the refund go to your student,
[00:09:46.360]the funds will be deposited into their refund account your student sets up in MyRed. If you
[00:09:52.760]choose to have the refund go to you, the parent, the Office of Scholarships and Financial Aid will
[00:09:57.560]email you instructions on how to set up your own direct deposit account. If you've received one of
[00:10:04.620]our academic scholarships, it's important to know how to retain it each year. When you were offered
[00:10:10.560]one of our academic scholarships, you should have received information about where to find your
[00:10:14.880]renewal criteria. You can access those guidelines anytime by scanning the QR code on the screen or
[00:10:21.240]visiting go.unl.edu/schguide. I recommend bookmarking that page so it's easy to come back
[00:10:30.000]to whenever you need it. In most cases, scholarship renewal is reviewed at the end of each spring
[00:10:35.880]semester, unless your scholarship says otherwise. The criteria for keeping your
[00:10:40.520]scholarship can vary, but often includes items like completing a certain number of credit
[00:10:44.920]hours each semester or academic year, staying enrolled in a specific major or minor, maintaining
[00:10:51.360]a minimum GPA, and meeting residency requirements. The scholarship guidelines also include useful
[00:10:58.240]information like whether your scholarship can be used during the summer, if it can be
[00:11:02.160]applied to education abroad programs, and how many total years of eligibility you have.
[00:11:07.880]Make sure to review your criteria regularly so they're
[00:11:10.480]no surprises, and reach out to us if you ever have any questions or run into any issues.
[00:11:15.440]Let's talk about additional scholarship opportunities that are available not just
[00:11:21.280]for this upcoming academic year, but throughout your time at UNL.
[00:11:24.880]If you're searching for more ways to fund your education, we've put together a list
[00:11:29.600]of external scholarships offered by outside organizations. These are real, verified
[00:11:35.120]opportunities, and we've included key details like the scholarship name, award amount,
[00:11:40.440]and application deadlines. You can find the full list at go.unl.edu/externalscholarships.
[00:11:47.860]The best part? That list is updated regularly as new scholarships become available and others close,
[00:11:54.680]so you can check back throughout the academic year and apply year-round. If you've already
[00:12:00.080]received an external scholarship, maybe from your high school, a community group, or a national
[00:12:04.400]organization, you'll need to report it in MyRed. Just go to the financial aid tab and select
[00:12:10.400]report other aid from the drop-down menu. After reporting, please allow one to two weeks for it
[00:12:15.480]to show up in your financial aid in MyRed. If the organization needs to send a scholarship check or
[00:12:20.760]verify your enrollment, they can send that directly to the Office of Scholarships and Financial Aid.
[00:12:25.600]Another important opportunity is the scholarship application for continuing undergraduate
[00:12:30.960]students. If you remember filling out the supplemental scholarship application as an
[00:12:35.560]incoming first-year student, this is very similar, but it's available to you every year
[00:12:40.360]during your time at UNL. This application helps determine your eligibility for scholarships from
[00:12:45.660]your college, academic department, and even the University of Nebraska Foundation. It typically
[00:12:51.340]requires a resume, and depending on your college, you might need to submit essays or meet other
[00:12:56.360]criteria. The application is open each year from October 1st through February 1st and can be found
[00:13:03.120]right in your MyRed account under the Financial Aid tab. Before we wrap up our session today, we want to
[00:13:10.320]highlight a few more ways Husker Hub is here to support you beyond just answering questions. As we
[00:13:15.900]mentioned at the start of the session, Husker Hub provides more than just quick answers. We offer
[00:13:20.980]personalized help with things like enrollment, transcripts, billing, payments, scholarships,
[00:13:25.440]and financial aid. Our support is friendly, judgment-free, and designed to meet you where
[00:13:30.900]you're at. We understand that college can feel overwhelming at times, and we're here to talk
[00:13:35.520]you through your options and help you make informed decisions. Our team includes both
[00:13:40.280]full-time staff and trained student workers, some of whom are currently navigating college
[00:13:45.260]themselves, while others have been through it already. So when you come to us, you're connected
[00:13:50.480]with people who really get it. We also provide guidance on how your financial aid, billing,
[00:13:56.140]and payment plans can support bigger goals, like studying abroad or doing field experience.
[00:14:00.840]And if your aid or student account ever impacts your enrollment, we're here to discuss options.
[00:14:06.860]We'll reach out directly through your Huskers email,
[00:14:10.280]or the phone number listed in MyRed. So make sure you're checking those regularly,
[00:14:14.320]and consider saving our number so you know that it's us.
[00:14:17.660]If your situation goes beyond what we can assist with, for example, if you're facing a financial
[00:14:23.480]hardship that affects your health, housing, food, or other basic needs, we'll help connect you
[00:14:29.480]with the right resources on campus. You're not alone. And finally, we'll always respect
[00:14:35.460]your personal values and choices. Our goal is to help you understand any financial
[00:14:40.200]impacts that might come with those decisions so you can plan with confidence.
[00:14:44.380]This concludes our session on the top five things to know about your financial aid.
[00:14:50.240]If you have any questions, please feel free to reach out to our office.
[00:14:53.760]Our team is here to listen and provide support to students and families.
[00:14:57.740]Our contact information is on the screen, and we have virtual options available every weekday,
[00:15:03.600]10 a.m. to 4 p.m. Central Time. Students can log in with their NUID number on
[00:15:10.160]huskerhub.unl.edu. If you want to find more information or access resources from any of
[00:15:16.600]your sessions, please visit go.unl.edu/NSEresources or scan the QR
[00:15:22.940]code on the screen. Thank you.
[00:15:25.340]...

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