Financial Aid 101 2013-2014 - Miami University
Financial Aid 101 2013-2014 - Miami University Financial Aid 101 2013-2014 - Miami University
SCHOLARSHIP Awards General scholarships Total Cost to Attend Miami 2013-2014 New first-year students who are admitted to Miami University are considered for general scholarships we award to incoming students; no separate application is required. Award determinations will be based on the official testing and high school transcript information received by Miami University as of March 1. For scholarship information, see MiamiOH.edu/ scholarships. Merit scholarships are only available to new, first year-students entering in the fall semester. Students admitted spring semester are not eligible for the Merit scholarship. Room & Board $10,900 Costs not covered by Miami Access Initiative Tuition & Academic Fees $13,600 Costs covered by Miami Access Initiative In October of each year, all students receiving a donor scholarship funded by Miami alumni or friends of the University are required to write a brief thank you note. The Office of Student Financial Assistance will send you an email in October telling you exactly where to find donor contact information, address, and a brief biography. Because we feel strongly that a thank you note is vital to the continued success of Miami’s scholarship programs, failure to complete the note may result in loss of eligibility for the fund(s) for your subsequent years of enrollment. Miami Access Initiative (MAI) First-time freshmen from Ohio whose family income is less than $35,000 will undergo an academic review. Only those who are academically competitive are selected. Families must complete the FAFSA by Miami’s priority deadline and submit supporting tax and financial information as requested. Miami adds together an Access Scholar’s federal and state grant funds with University grant and/or scholarship funds to meet the cost of tuition and academic fees. Total family income includes the parent(s) with whom the student resides, the stepparent residing in the household, and the student. The costs for room, board, books, travel, non-course related fees, and personal expenses are not included. There is no separate application for the Miami Access Initiative. To be considered, students must either be admitted to the Oxford campus as a first-time freshman or be a dependent student approved for relocation from either the Middletown or Hamilton campuses. The Summer Orientation fee is waived for an MAI student and one family member; however this waiver does not apply if staying at Heritage Commons. of less than $35,000, and maintain Satisfactory Academic Progress. In addition, the Miami scholarships have a GPA requirement, which are outlined in the student’s Scholarship Award Notification. Grants Federal Grants: Pell, TEACH, SEOG Federal Pell Grant - A federal grant awarded to undergraduate students with a high amount of financial need. For the 2014-2015 academic year, the EFC must be below 5157 and the award range is $587 to $5,730 for students enrolled full-time. Grant amounts are pro-rated based on the number of credit hours the student is enrolled and are reduced if the student is enrolled less than full-time. Maximum number of semesters of eligibility is 12 full-time semesters. Federal Supplemental Educational Opportunity Grant (SEOG) - A federal grant awarded to undergraduate students enrolled full or part-time with exceptional financial need. Students must be Federal Pell Grant recipients and file their FAFSA by Miami’s priority deadline. To remain eligible for up to four years, students must maintain full-time enrollment at the Oxford campus for every semester, continue to file the FAFSA each year by Miami’s priority deadline, continue to have a total family income { 66% } Freshman entering for the fall of 2013 who were offered a scholarship or grant. 4
Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant - A federal grant program awarding up to $4,000 per year to a student who agrees to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves students from low-income families. A TEACH Grant recipient must teach for at least four academic years within eight calendar years of completing the program of study for which the TEACH Grant was received. IMPORTANT: If a student fails to complete this teaching obligation, all TEACH Grant funds received will be converted to a Federal Direct Unsubsidized Stafford Loan. Interest will be charged from the date the grant(s) was disbursed. This loan and all accrued interest must be repaid to the U.S. Department of Education. To qualify for a TEACH Grant, a student must have placed above the 75th percentile on a standardized college admission test (ACT/SAT/GRE); OR have a high school cumulative 3.25 GPA on 4.0 scale and must maintain the 3.25 GPA throughout the student’s academic program; OR be a current teacher returning to pursue an advanced degree. The student may be either an undergraduate or graduate enrolled full or part-time. Award amounts are proportionally reduced as enrollment level lessens. A signed TEACH grant supplemental form is required each year. A student must complete a TEACH Grant Agreement to Serve (ATS) each year and complete TEACH Entrance Counseling each year to receive a TEACH Grant. For information about the high-need fields and schools serving low-income students, eligibility requirements, grant conditions, and to obtain the service agreement, visit teach-ats.ed.gov. You may cancel all or a portion of your TEACH grant after funds have been credited to your student’s Bursar account by notifying us in writing within 30 days after the date of your disbursement notice. After 30 days, you must work with the Department of Education directly. Ohio College Opportunity Grant (OCOG) - A state grant program which provides need-based tuition assistance to Ohio students with financial need attending the Oxford campus. Students apply for the OCOG by completing the FAFSA by October 1 each year. For the 2013-2014 academic year, the maximum award amount for full-time enrollment was $920 for students with an EFC of less than 2191. Award amounts are reduced if students are enrolled less than full time. 5
- Page 1 and 2: Financial Aid 101 A Guide To Your 2
- Page 3 and 4: Financial Aid AWARDS The award pack
- Page 5: Changes to financial aid awards Stu
- Page 9 and 10: Additional loans (PLUS and private)
- Page 11 and 12: FEDERAL WORK-STUDY (FWS) Student Em
- Page 13 and 14: STUDENT’S Rights & Responsibiliti
- Page 15 and 16: Student to-do list (TO FINALIZE FIN
Federal Teacher Education Assistance for College and<br />
Higher Education (TEACH) Grant - A federal grant program<br />
awarding up to $4,000 per year to a student who agrees to<br />
serve as a full-time teacher in a high-need field in a public or<br />
private elementary or secondary school that serves students<br />
from low-income families. A TEACH Grant recipient must<br />
teach for at least four academic years within eight calendar<br />
years of completing the program of study for which the<br />
TEACH Grant was received. IMPORTANT: If a student fails to<br />
complete this teaching obligation, all TEACH Grant funds<br />
received will be converted to a Federal Direct Unsubsidized<br />
Stafford Loan. Interest will be charged from the date the<br />
grant(s) was disbursed. This loan and all accrued interest<br />
must be repaid to the U.S. Department of Education.<br />
To qualify for a TEACH Grant, a student must have placed<br />
above the 75th percentile on a standardized college<br />
admission test (ACT/SAT/GRE); OR have a high school<br />
cumulative 3.25 GPA on 4.0 scale and must maintain the 3.25<br />
GPA throughout the student’s academic program; OR be a<br />
current teacher returning to pursue an advanced degree.<br />
The student may be either an undergraduate or graduate<br />
enrolled full or part-time. Award amounts are proportionally<br />
reduced as enrollment level lessens. A signed TEACH grant<br />
supplemental form is required each year.<br />
A student must complete a TEACH Grant Agreement to Serve<br />
(ATS) each year and complete TEACH Entrance Counseling<br />
each year to receive a TEACH Grant. For information about<br />
the high-need fields and schools serving low-income<br />
students, eligibility requirements, grant conditions, and to<br />
obtain the service agreement, visit teach-ats.ed.gov.<br />
You may cancel all or a portion of your TEACH grant<br />
after funds have been credited to your student’s Bursar<br />
account by notifying us in writing within 30 days after<br />
the date of your disbursement notice. After 30 days, you<br />
must work with the Department of Education directly.<br />
Ohio College Opportunity Grant (OCOG) - A state grant program<br />
which provides need-based tuition assistance to Ohio<br />
students with financial need attending the Oxford campus.<br />
Students apply for the OCOG by completing the FAFSA by<br />
October 1 each year. For the <strong>2013</strong>-<strong>2014</strong> academic year, the<br />
maximum award amount for full-time enrollment was $920<br />
for students with an EFC of less than 2191. Award amounts<br />
are reduced if students are enrolled less than full time.<br />
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