OHIO Financial Aid Award Letter Webinar

Hello.

Welcome to our financial aid presentation today.

My name is Melissa Van Meter and I serve as associate director of operations in the office of student financial aid and scholarships.

Thank you for joining us. I want to let you know that you can submit questions at anytime using the chat feature of the presentation. We will answer your questions as best we can throughout the chat and also all answer some during the presentation.

We are recording this session and will tell you how to access it later on, either today or later next week.

Alright, let's get started.

Today what we're talking about is your financial aid offer. So all of you should have received a financial aid offer from Ohio University. Additionally, our office sent out revised financial aid offers to all Athens campus students. Just last week. We did so because we made a change in our estimated tuition and fees amount on the presentation. Today, you'll actually see the originally estimated tuition fees amount. I apologize that I didn't get that updated, but just so you know, take a look at your.

Individualized financial aid offer to see that reduced estimate. I will say just at the get go that all of our estimates are just that their estimates they'll be finalized later this summer when they'll have a University board of Trustees Committee meets so let's take a look. We're going to look at the cost. Details provided on your aid offer so that way will walk you through each of those you understand what they mean. Then we'll take a review of the different types of financial aid that could be on your aid offer we're going to look at a sample aid offer.

Yours of course is individualized in specific for you.

Will look at net price and what that means as well as some of the other numbers on your financial aid offer. Then I'm going to show you some screenshots of your Ohio Student Center, which all of you can access currently, and then we'll go over some next steps. So let's go ahead and get started again. This is a sample aid offer for Rufus bobcat, our favorite student.

And if you did receive one in the Mail originally, then it would have been front to back email versions or two pages. And again you should have all received that revised aid offer just last week with those updated tuition estimates.

Alright, so let's jump right in with cost details. So basically what a families want to know, right? How much is it going to cost, which is a great question that you should be asking, and now's the time to figure that out. Additionally, we're going to talk about what the Ohio guarantee is and what it means for your family. And then we're going to talk about a bill. When are you going to get a bill? What's going to be on it? How do you go about paying it so? First, let's take a look at the very first table that's on your aid, offer its front and Center.

It's exactly what are direct costs will be. So for students who are living on campus, you're going to see an estimate for residence Hall, a meal plans, and then all students will see an estimate, an estimate of tuition and fees. Those your direct charges, the charges that we're going to as an institution. Bill you for being enrolled here at Ohio University. So let's look a little bit closer at those.

You can see there is a paragraph above that table that talks about these costs being estimates. Additionally, it gives you the campus, residency and living arrangements that we.

Aren't we believe are true about you as a student, and that's what your cost in financial aid are displayed. Reflecting so Rufus his case, he's going to join our Athens campus this fall. He's a resident of the state of Ohio, and he's going to choose to live on campus. So that is what makes up the charges. And again, the financial aid offer that we are anticipating for you. Again, there's anticipated tuition fees your eight offers going to show a slightly reduced amount, which we believe will.

Probably be very close to what you'll expect to pay this fall, and then we're estimating a standard double residence Hall in a traditional 14 meal plan. Now Please note that there are a lot of different meal plan and housing options available to you at Ohio University. We use the cost of a standard double room because that's the most common room that students select here at Ohio University, so that's the cost again for the year of a standard double room here.

We also show you the amount of a traditional 14 meal plan. Now I will say this is the most affordable meal plan option at Ohio University. It's a straight flat 14 meals per week.

There are a lot of other meal plan options for student their students. There are flex plans. There are 21 meal plan options, so there are different options for you. What we're showing you is the most affordable option. The one we recommend, because here at Ohio University you can increase your meal plan at anytime during the year. But you can't decrease so this kind of starts you out and gives you a feel for what you might need.

Your actual costs, of course, are going to vary on your individual selections. Now let's talk a little bit more about costs. the Ohio guarantee is something we're very proud at Ohio University, where the first public school in the state of Ohio to offer to wishing guarantee program and what that means is exactly what it says. It's Ohio guaranteeing that your tuition, fees, room and board rates are going to stay the same for four years of attendance. It also includes most all fees all the way from the start.

At orientation, fees clear through to the end for graduation fees. All of those are wrapped up in the tuition and fee amount that we're showing to you. We don't want you to be unprepared to pay for your college education. We want you to know up front not only for this year, but for all four years. The guarantee is available for students on Athens and regional campuses. It's for Ohio residents and nonresidents as well, so I would encourage you to visit the Ohio guarantee website, which gives you which gives you.

Even more information about the fixed tuition fees program Additionally this year for incoming students, there's no Ohio guarantee plus program, so that talks a little bit more about specific programs and guaranteeing graduation. But again, I'd encourage you to visit the website for all of those details. And as I've said, are tuition fee, residence Hall, and meal plan rates are all estimated currently, but once they are finalized by the Ohio University Board of trustees, you can visit them on the bursts are website. There's also cost information on.

Our website, so there are a lot of places you can go to. Make sure you know exactly what the costs are to enroll here to Ohio University.

So bills we want you to know when you get that first account balance, notice or that first bill on August 1, exactly what it's going to say. Fall semester account balance notices, which is essentially your bill, are sent August 1st. So for registered students on August 1, your student is going to get an email with the amount that they owe Ohio University. There are no paper bills that are mailed, it's all email notifications. Additionally, students can set up.

Parents or other individuals as an authorized user on their accounts. In doing so, not only does it allow that person to make payments toward their account balance, but also it ensures that the authorized user gives an email when those account balance notifications are sent. We do recommend that you're financially be finalized prior to August 1st, so that way you know exactly what aids going to apply towards your balance. That first fall semester.

The account balance is due the 21st of each month, so the billing notice comes out August 1st. It's due August 21st and that's going to be for the entire fall semester.

If you don't pay the entire balance by August 21st, the remaining balance will have a 1 1/2 percent late fee on that unpaid balance, and you'll be billed again September 1 and have that balance do then September 21st. So each month that there's an unpaid balance, a late fee will apply, and there's more information about all of that. On the bursts are website I want to talk just briefly, that there is also a monthly payment plan option available through Ohio University. You can apply to be on the monthly payment.

Plan and what that does will take that fall semester balance. That's traditionally do August 21st and divided over 3 equal monthly installments due September, October and November. So if you're planning to pay out of pocket for some or all of the tuition charges, you can either do so by paying the entire fall semester on August 21st, or again dividing it into 3 equal monthly payments. You can do the same thing for spring, which will take the January billing.

Cycle and divided over January, February and March. So again I'd refer you to their website. There's a lot of great information out there, but I want to let you know what you can expect and hopefully you've registered for bobcat student orientation. There's a lot more information that's provided in great detail during those presentations as well.

OK, so before we move on to financial aid review, I just want to look briefly over the questions being asked. Thank you all very much for asking us questions and reaching out. It's our way to feel connected to you even though we're presenting virtually today.

See.

Looks like all of our questions have been well answered by our other staff chatting with us today, so keep the questions coming. We want to make sure we can fine tune this presentation so that way we can answer the questions you have to better prepare you to come join us this fall.

OK.

So let's take a look at exactly what types of financial aid you may have been offered.

I want you to clearly know the types of financial aid that will need to be repaid eventually, as well as what is gift or Gift Aid or basically free money that's offered to you, and then instructions for how to go about accepting those types of financial aid.

Now I will say as we look at this financial aid offer, Rufus Bobcat has been offered two different types of aid, which most students are. The first table is called Gift Aid.

That's going to include grants and scholarships that have been offered, so Gift Aid is funds that we are providing to, either from Ohio University, the federal government, through your FAFSA, or the state of Ohio, and again, those funds do not need to be repaid. So those Gift Aid given to you.

The other type of financial aid that might be on your aid offer, which most all students should have. This have completed FAFSA. Would be something called self help aid.

That's going to include federal student loans as well As for some students. Federal work study. Now I do want to preface this because having federal work study on this sample aid offer often causes some confusion. Federal work study is a small financially need based program that's offered to students with a high financial need based on the faster results. It is a program that employs around 800 students per year.

Compare that to Ohio University's robust student hourly program, which employs between 7 and 8000 students a year. So if you don't have federal work, study on your aid offer. Don't think you're not going to be able to get a job on campus. There are a lot of jobs available to students. Federal work study is a financial aid program. Again, that's offered to just a small percentage of our student population, so don't get nervous if you don't have that on your eight offer. Don't worry, parents, your students can still find great jobs here on campus.

So I just want to point that out, but those are the types of funds that you'll see in the self help aid section of your financial aid offer.

So again, let's look at those in a little bit more detail, but clearer. There's a Gift Aid box for those who've been offered institutional scholarships as well as federal state grants and a self help aid box that includes federal work study for those offered in federal direct loans for all students have completed a FAFSA. Additionally, in those sections, you'll see these two columns. There's an annual offered amount. That's the total amount that you're being offered from Ohio University. And then there's an applicable.

Aid amount.

That amount is the amount of that aid that's going to be applied directly toward your charges, and you can see in the Gift Aid section the offered amount equals the applicable 8 amount. So every dollar of the amount of financially we've offered you in Gift Aid is going to apply directly toward your charges in the self help aid section. You can see federal work study does not apply at all. Torture charges. Again, it is a need based employment program. Students are paid in biweekly paychecks based on the number of hours they work.

Per week, so that does not go tord tuition charges just like any other job on campus would produce a paycheck and not apply tort of students account balance.

You'll see in the federal work I'm sorry in the federal direct loan section for the subsidized and unsubsidized loans, there's a slightly reduced amount in the applicable aid column because there is a federally required origination fee that comes off the top of those loans before they apply torture charges. So again, commitment to transparency, we want you to know exactly what of the aid we've offered you is going to apply tordera charges.

So a little bit more detail in the Gift Aid. Again, there are scholarships. There isn't necessarily an acceptance for scholarships beyond paying your $200 excuse me $200 housing deposit. That deposit isn't due until June 1st. However, you can pay it at anytime. Kind of. The sooner you pay it, the better your slot is for selecting a residence Hall here on campus so you can pay that at anytime. It's fully refundable through June 1st and that's really the only acceptance in regard to your scholarships.

Students have to be enrolled full-time to receive scholarships and you really need to be aware of the renew ability criteria of each of your scholarships to ensure that your meeting Matt and having those scholarships renewed each year.

Grants are offered annually based on the FAFSA results, so grants aren't necessarily renewable. Again, they're going to be based on the yearly faster that you complete. However, if you're a family whose income stays the same from year to year, then you can expect your federal and state grants to stay about the same each year as well. Students can receive them if their enrolled less than full time. However, there most likely going to be prorated for that in grants are also automatically accepted, so there's nothing you need to do to accept your grants.

In talking about self how bayed again, if you are one of those students have been offered work study, you can select a position at anytime. Again students are paid and biweekly paychecks and none of that amount applies towards your account balance. For federal direct loans, students must actively accept those loans and their Ohio Student Center, which will take a look at in a minute. Additionally, you must complete a loan agreement and loan counseling, and you do that on the federal website, which I'll give you an again. There's a small loan origination fee that comes off that loan before it's applied towards your charges.

Just a little more information about loans. There are two different types of loans that could be on your aid offer. One is a subsidized loan which accrues no interest while you're in school that's offered to students with a higher financial need, and then the other is an unsubsidized loan that's going to be offered to all students regardless of the information on their fax. A interest does accrue on that loan while its dispersed. However, you can choose to pay that interest as it accrues, or let it capitalize on both loans. There are no prepayment or repayment penalties, so you can make payments on them at anytime.

Even though you don't have to repay them until six months after graduation, so that's just a little bit more information about loans. I will note too, that we offer students the maximum that they can receive, as in Athens campus student in federal direct loans. So for a freshman, 5500 is the maximum you can receive as a student in federal student loans. That increases to 6500 as a sophomore and then 7500 as a junior and senior. So just so you know, you can't borrow through the federal direct loan program for the.

Full amount you might need to cover your costs, it is limited.

OK, so I'm going to move on to the. Net price another numbers and I will say even though this is probably the most complex part of the presentation, an of the information on your aid offer from me personally. It's the most important thing we can tell you because it's going to show you exactly what your balance at Ohio University is going to be. We want to make sure when you get that account balance notice on August 1st when you take a look at your bill online there are no surprises. We want you to.

Fully anticipate and expect that amount on your bill. We don't want students and families taken off guard because that's not what we want you to be thinking about in August, right? We want you to be fully prepared and ready to pay that balance and start your career here at Ohio University. So again, this is a very important section in my opinion.

So what on Earth is Annette Price? Basically, Annette price subtracts your applicable aid, so again in that applicable aid column on your aid offer, it subtracts that from the direct charges.

OK, so we take the amount that we are going to bill. You we subtract. The aid that we've offered you and it's going to show you what you can anticipate owing for the year. Even though you're billed by semester. These are annual amounts on your eight offer. It's not going to include any indirect costs such as books transportation in personal expenses. We will look at that in this section of the presentation just so you're aware of what makes up your total cost of attendance but those aren't amounts that we build you so we're.

Only looking at your direct charges and then we tell you on your aid, offer exactly what those net prices are. We actually give you two different net prices.

So if you're a student who was offered gifting either scholarships and or grants, the first net price takes your direct charges and minus minus is or reduces it by your total Gift Aid. And that's the amount you'll owe if you choose to not borrow federal loans. So if you're choosing to decline your self help aid, this is the This is the net price or the amount that you can expect to pay for the year. So your direct charges minus your gift date.

If you do choose to take your federal direct loans, then it's going to take that net price that direct charges those direct charges and subtract the Gift Aid and the applicable self help 8. So that's the amount you would owe if you choose to borrow through the federal direct loan program. And again in this sample, it's 10,645. If the student doesn't take direct loans, it's 5201. If they do choose to borrow through the federal loan program.

So let's do a little math.

Again, the tuition and fees originally estimated were 13,128 again. Now those estimates have been reduced, so make sure to check your aid offer for those current estimates, and then we add resident solemn meal plan.

For students who are planning to live on campus, subtract the gift date and then that gives the net price again in our sample student Rufus Bobcat yours is going to be individual individualized based on the financial aid you specifically have been offered, so that's the first net price.

And then the second net price subtracts Gift Aid and applicable self help aid and gives you the amount you're going to owe for the year based on what you've been offered in gift in self help aid.

OK.

I do see a really good question. Then I'm going to just take a break and answer what GPA are you expected to maintain to keep your Gift Aid and scholarships? So that's a really good question, which is why I wanted to stop and talk about that. So when we get to the student section part, you'll see where you can look at each scholarship you've been offered to determine what their new ability criteria are for each individual scholarship. So most scholarships require a 3.0 GPA.

To renew each year, however, there are some scholarships that require a higher GPA in some that actually allow you to renew it. A slightly lower GPA. So you're going to want to look individually at what you've been offered to determine what GPA you need to keep to maintain your scholarship or new ability.

Grants again are not necessarily renewable. There based on your FAFSA information each year, so there's nothing specific that you need to do except completing the Faf SA each year to get those federal grants for the next year. So that's a really good question. I see another one that I know has been answered, but I also want to talk about why wouldn't you accept federal loans? So obviously choosing to borrow is an investment in your college education, and obviously we believe that it's a prudent investment. That's why we.

Participate in the federal direct loan program and offer those loans to you, but many families would like to not borrow any loans and choose to pay out of pocket for those college expenses, and that's certainly your choice and we just want you to be aware of what that amount is going to be. If you choose not to borrow through the federal loan program.

Typically, for students, the best interest rates are through the federal direct loan program versus private loans that they could borrow. So we believe students who choose to borrow should maximize the federal direct loans that we've offered 1st and then borrow Additionally through either a private loan or the parents threw apparent loan if they need additional additional financing assistance to cover the remaining net price. So that's a really good question. Another good question I want to.

Go ahead and answer is about outside scholarships, so obviously students that are University have a very high caliber and they often come in with mini scholarships from their high school or community organizations. Maybe parent employers lots of different places, so if you've been awarded a scholarship outside of Ohio University, you can send that information into our office. You can send us a fax or email of the scholarship information once you receive the actual check you can.

Mail that into our office. Although we are working remotely, we do have a way to take care of the Mail that we received in to deposit those checks in for students so scholarship checks we receive that are $1000 or less are applied solely to the fall account balance. So the fall bill, anything over $1000 will be applied equally over the fall and spring semesters. So those are all really great questions and I do appreciate you posting those we.

Again, like to stop and answer your questions, we want to make sure you're getting what you need out of this presentation. So thank you so much.

I'm going to move on to the next section. This for most students will be on the back side of their aid offer or the second page of their aid offer at the top, and it shows you a chart that gives you your total cost of attendance. So this looks at not only the direct charges, the charges will bill you at Ohio University, but also indirect costs costs that you'll incur as a student but aren't billed by our office.

So let's look closely at this. Again, this is a student who's planning to attend the Athens Campus who's in Ohio residents. So an in state student and plants to live on campus. So those direct charges encompass tuition, fees, residence, Hall in meal plan.

Additionally, the indirect cost section includes an allowance for books and supplies, transportation and personal expenses. These numbers are derived from typically their biannual surveys to our student population about what they're spending on books with their spending to go home and visit their families for transportation around campus, and then what personal expenses may have. So we know students are going to have costs that aren't necessarily build by Ohio University.

We want to put that total cost of attendance out there so you know that as well.

Now.

The total cost of attendance gives you kind of an additional borrowing amount, so right underneath the cost of attendance chart, we're going to go over two different numbers for you. So if you're looking to borrow Additionally to assist with either your net price or these indirect costs as well, we provide those figures to you again. The first one is when you've already seen on your aid offer. It's the net price direct charges, minus gift and applicable self help 8.

So again, if you're a student who plans to borrow through the federal direct loan program, you're going to see that net price that cost minus Gift Aid and self help. So you might be choosing to follow that amount if you choose to borrow that amount exactly. Again, it's in that paragraph underneath your cost of attendance. That means that your total costs billed by Ohio University will be covered if you choose to borrow up to your total cost of attendance. That amount is also offered in this section.

Very last number in that paragraph. If you choose to borrow that amount, it means your charges will be completely covered. In additional your students going to refund each semester that gives them funds that help cover those indirect costs that we know that they'll have. So two different amounts listed there to assist you in making a borrowing determination.

If you do need to borrow Additionally, there are two different options that most families typically utilized.

The first is a parent plus loan. This is alone. That's in a parents name. Their parent must be creditworthy or have a creditworthy cosigner to borrow through the plus loan program in her payments. Can be I'm sorry payment can be deferred until six months after the student graduate stops attending or drops below half time.

There are private loan options as well. In that scenario, either the student or the parent can be a borrower. Student borrowers are always required to have a creditworthy cosigner. Parent borrowers themselves must be creditworthy or have a creditworthy cosigner, and her payment begins six months after the student graduates.

So if we look at this quick chart, that kind of compares parent loans and private loans, you can see again the borrower for plus loan parent loan is always apparent for private loan. It could be a student or apparent cosigner isn't required for parent borrowers if their credit worthy. But students borrowing through a private loan must always have a creditworthy cosigner. The credit checks are a little bit different for apparent loan versus a private loan. Parent loans you apparent could be denied for apparent loan if they have adverse credit history.

Where private loans are looking more honest, individual barbers credit score and debt to income ratio, so they're a little bit different. Interest rates for federal plus loans change every July 1st and are fixed at that point. Private loans the interest rate is going to vary by lender and by the borrowers credit history. So if I'm apparent borrower, it might actually be more advantageous for me to borrow through her private loan. If I have a very high credit score, I might be able to get a better interest rate.

Versus the federal parent plus loan. So that's something to consider. If he was apparently in tomorrow.

Additionally, were payment an apparent loan technically begin 60 days after the last disbursement. However, it can always be deferred until six months after graduation.

In repayment, really does vary by lender for private loans, but is typically six months after graduation, and in both scenarios you can choose to borrow up to the total cost of attendance.

So again, you've got some various options if you're looking to borrow apparent loan or the parent chooses to borrow private loan, you can choose to borrow the net price, which is the direct charges minus the Gift Aid, or you can choose to borrow that net price, which is the direct charges minus gift and self help aids with the students borrowing their full amounts, and you're looking to borrow. Additionally, you could use that amount. Finally, you could borrow the remainder of the cost of attendance. Doing so would produce a refund for your student to cover their.

Individualized indirect costs.

One other item to note when you're looking at eight offers, it's important to compare those net prices from school to school. So what am I going to after everything is paid as far as scholarships, grants and self help aid. That's what's important versus the scholarship offers, because again, that doesn't take into consideration the cost of the institution and make sure to know that at Ohio University are Phoenix financial aid offer displays annual amounts sometimes.

Rules will provide students with the four year amount of their scholarships or the four year amount of federal loans they could borrow. Make sure you're comparing apples to apples. Make sure you're looking at what each school is offering you for the year and what that net prices. After all gifting and self help aid applies.

And remember that your financial aid here will be divided over fall and Spring Semesters because charges are also applied per semester.

OK, we're getting near the end of the presentation here.

I want to discuss a little bit about what's in your Ohio student center, what you can see there, why it's important to visit there often, where you can get more information, and where you can accept your loans.

So again, the Ohio Student Center is sort of a hub of information for your life here. As a student, it doesn't just include information in regard to financial aid. It also uses information or provide you with information regarding admissions, registration items needed to finalize your life. Here as a student. So it's a very important place and you all can access that right now.

OK, we're going to look specifically at the To Do List first, so the snippet in the top right is what it looks like in your Ohio student center main portal. You can see this student has four items listed, a tax transcript verification worksheet, direct loan agreement, an entrance counseling. So if I click on that more button, then I see the screen shot in the lower left side.

It's going to list each item type with links to more information about that specific To Do List item. So in this sample I've selected the verification worksheet and as you can see over in the bottom right it provides me then a link to that form on line. So that's what you do to go about completing those To Do List items and you want to make sure they are all completed because you have to do so in order to finalize your aid.

OK, so under the finances section you'll see information from the verse. Our office account inquiry account itemization, authorized user portal making payments and then underneath that in the financial aid section you see two links, view financial aid and then accept decline awards. So if you select view financial aid, you'll see the annual information offer to you just like it was displayed on your aid offer. You'll also see by term information, so it breaks it up over the fall in the spring as well.

If you click the accept decline award section, that's where you're really going to get to the meat of the information about what you've been awarded so you can see in this sample. I know the screen is a little bit small, but again, you can access your student center today.

You'll see that each item that's been offered to you is a hyperlink, and then if you select the name that's where you're going to find your renew ability criteria for each individual scholarship. So in this sample I've selected the Ohio Gateway Scholarship.

And you can see that it does require 3.0 GPA annually, so that's going to check your GPA at the end of your freshman year to determine if you are eligible for that scholarship. Again, for your sophomore year.

I've also selected federal work study in this list and again I get the link to go ahead and select a position there.

If you look back at the lower left side, you can see there is an except in a decline column in all of the item types of the Gift Aid, including work study have been automatically accepted for you as a student. You can go into decline work study if you like, but your Gift Aid is all automatically accepted. This is where you go to make loan decisions. If you click the accept box next to your loans, it will then provide an editable field in the accepted column. So if you wish to accept the maximum, you just have to click.

Except box if you want to accept a reduced amount, you click accept and then reduce it in the accepted field.

And then if you choose to decline your loans, you can do that here as well.

What's important to know is if you, as a family of decided not to borrow federal loans, you can decline them now. And if you decide that you need them later, you can always contact our office and we can put them back out there too. For the student to accept. So it's not a one and done sort of decision. Additionally, if you accept loans and find that later on in the you you don't need them, you can also decline them later on so you do have some options. It's not obviously borrowing in any capacity as a serious decision to make, and so we don't want you to take it lightly.

But we also want you to know that there may still be a lot of unknowns, especially as we're all going through this pandemic. You know, we don't necessarily know what the future holds, and so I want you to know that those loans are available to you at anytime.

OK, before I actually move on to the next steps, I see some really great questions. I know they've been answered, but I'd like to talk about them on line with all of you. So can a family utilized the Parent plus loan option in also utilized the installment plan? That's a really good question. So in this scenario, in this Rufus Bobcat scenario, the account balance, minus Gift Aid and applicable self. How bad was 5201?

I know that because I've done this presentation many many times, so if you are a family whose net price is 5000, well, let's make it easy on me mathematically. Let's say you're out of pocket. Your net price is $6000 an you've decided to borrow through the Parent plus loan.

Let's say $3000, then that remaining $3000 would be divided over fall and spring with an account balance for fall of 1500. You can apply for the installment plan or the monthly payment plan for that remaining $1500 balance, and then you would simply. Oh 500 September 500 October, 500 November. So yes, if you're not borrowing fully, you can utilize parent loans and the installment plan or the monthly payment plan as well.

So that's at your discretion. You can utilize actually all of the options the parent loan, the private loan, the monthly payment plan.

You don't need the monthly payment plan if you're borrowing the entire account balance needed, but if you're only borrowing part of it in there, still a balance left out of pocket, you can certainly apply for the monthly payment plan to pay that balance each month.

So those are really good questions. Thank you.

I'm going to go ahead and move on to this next step question because or I'm sorry. This next step section, I know that our time is running short, so just a few more things to show you at the at the very bottom of your aid offer on the last page you'll see critical next steps. Those are individualized for you as a student here at Ohio University, so those are the next steps that you need to take in order to make sure everything is finalized before you begin attending here at Ohio University. In this scenario, the very first thing which everyone is going to have.

Visit your Ohio student center under the selected Klein Award link. In the financing section to list. I'm sorry to check each and every financial aid item listed to make sure you have full information about that financial aid item. To make sure you know renew ability criteria for your scholarships. So that's going to be on. Everybody's next is to bribe provide any required documents to complete the verification process. Again, if you haven't been selected for verification, then that item isn't going to be on your critical next steps, so it's only if you have.

That we're going to refer you to your To Do List to complete those items.

Austins have been offered. Loans will have a bullet to accept or decline their loans on their student center. We talked about that.

And also you need to complete loan agreement and entrance counseling at studentaid.gov. If you do choose to borrow those loans for students have been offered federal work, study the link to select a position is provided on your eight offer as well, and then all students will need to submit a final high school transcript. Undergraduate admissions when available. So those are your individualized next steps. We also have a next step section on our website that gives some of that detail as well and gives you a link to more information about parent loans. Private loans.

In the monthly payment plan.

So.

Finally, we've made it through the presentation. Thank you all for sticking with me throughout all of the slides. I know that I moved it a rather quick clip, so if you still have questions that were unanswered or things you'd like for me to elaborate on or clarify, please feel free to post those in the chat. We have about 6 minutes left.

OK, so here's a question that I'd like to answer regarding unsubsidized loans. Yes, interest does start accruing on unsubsidized loans, parent loans, and private loans at the time they start at the. At the time there initially dispersed torture account balance, so that would be at the start of the fall semester. You again can choose to pay that interest as it accrues or allowed to be capitalized. Oftentimes, students think, well, I can't make any student loan payments while I'm in enrolled in school, and sometimes that is true. You're not able to do that financially.

But oftentimes that interest payment is pretty minimal and does help you once you're going into her payment. If you can keep that interest paid off. So that's something to consider, certainly, but you're not required to make any payments again until six months after graduation, so that's a really great question. When do you need to accept in decline your aid? I would encourage you to go to that link right away so you can view your items and see what their inability criteria are for your scholarships. However, in making loan decisions.

We'd like to see students do that before coming to Bobcats tune orientation. I'm sorry before.

Depending virtually Bobcats June orientation, however, the most important timeline to make sure you've done those loans accepted those loans if needed is before that August 1 billing cycle. We want to make sure when you get that account balance notice on August 1 you can see all of your aid there that you plan to utilize, including any loans you accepted so that way that's going to be taken off your charges and you'll see exactly what you need to pay, what your balance is so.

Those are really good questions.

Are there any other questions that I can answer or go over? Provide additional clarification.

We have a few more minutes. If you have any other questions.

I do wanna say uhm, I know that all of you are having an into your high school career that you didn't anticipate and certainly is filled with a lot of emotion. And I'm sure disappointment is many graduations are now going to be held virtually and things just aren't ending the way you'd hoped. and I want you to know that we know how University certainly sympathize with you and.

You don't want to support you in any way we can as your.

Finishing up your high school career in it in a different way than you. And then you had hoped and attending bobcat soon orientation in a different way that you had hoped as well, and.

We do really just send our encouragement to you and support as you rap up and hope that you are able to.

Wind safely visit campus and.

See how beautiful Athens is in. Hopefully this summer or fall whenever it's safe to return. So we hope that you'll choose to do that.

I do want to say that there are virtual appointments available for all of you between 1:30 and 5:00 today, so if you'd like you're welcome to schedule an appointment with one of our financial aid administrators to ask one on one questions about your specific financial aid, or if you have questions specifically about your situation.

Yes, the session is recorded and the chat transcript will be available. Will send you information about how to access that shortly.

One thing I didn't mention often times it's a question that comes up during the presentation. I don't think it did, or perhaps I missed it.

It's more important, probably now than most years, but at Ohio University we have something called the change of income process. So if you're a family whose 2020 income looks like it's going to be less, perhaps due to a job loss or a reduction in employment, then.

If you're 2020 estimated income information is going to be less than your 2018 income information that was reported on the Fasa, I'd encourage you to contact our office and gain access to the change of income application. This application allows you to estimate your 2020 income, and then we can take those estimates along with supporting documentation, and we can actually change your faster using professional judgment based on your estimated 2020 income information, and then that allows us to reevaluate your aid based on your current financial situation rather than.

With the faster requires, which is your 2018 income information. So if you're a family for whom that situation applies, please do reach out to our office. We'd be happy to help walk you through that process to see if there's any additional financial aid we could offer to your student.

We have one final minutes.

There any last questions?

Alright, well will closeout this presentation and I do hope you'll continue to join us for some of the rest of the programming virtually today and again, I hope that we can see you on campus once it's safe to return. Thank you all and enjoy the rest of your day.