Financing Your Future

Student Financial ServicesSummer 2014

How Much Does it Cost to Attend UCM?Tuition and Fees: $7,265

Based on 30 on-campus credit hours ($13,656 for non-residents)

Books and Supplies: $1000Housing: $5,034 for a double roomMeal Plan: $2,794

Total $16,093 for Missouri Residents ($22,484 for Non-Residents)

Direct and Indirect CostsDirect• Tuition and fees• Room and Board• Books (if you buy them at UCM)

Indirect (part of the Financial Aid budget but not paid to UCM):• Travel expenses• Loan fees

Financial Aid ProcessYou can still apply for federal aid• Free Application for Federal Student Aid– www.fafsa.gov– www.pin.ed.gov

• UCM FAFSA code is 002454• Priority deadline is April 1st for state and UCM

campus based funding.

Financial Aid Process continued

Financial NeedCost of Attendance (COA)

- Expected Family Contribution (EFC)_______________________________= Financial NeedThis formula is the basis for how all aid is awarded to the student.

Types of Financial Aid• Scholarships and Grants– Can be from federal, state or private sources– Can be need or non-need based

• Loans– Stafford Subsidized and/or unsubsidized– Perkins – PLUS loans or Private/Alternative Loans

• Work Study

Loans• For Perkins and Stafford loans– FAFSA is application– Must do Master Promissory Note (MPN) and

Entrance Loan Counseling • Parent PLUS and Private/Alternative– Separate credit check/application– Must do MPN for PLUS

PLUS loan

• Credit based loan held by biological or adoptive parent

• Interest rate for 2014-15 is 7.21%• May borrow up to COA less Financial Aid • Repayment of the principal begins 60 days

after loan is fully disbursed

Parent PLUS Loan

Contact SFS

Other Assistance

• 529 Plans• Third party bill payment• UCM payment plan

There is no paperwork to sign; all students are automatically on a payment plan when charges begin accruing on their student accounts. If financial aid (defined as grants/scholarships/loans) does not pay the balance in full, payment of at least 20% is due each month. For the convenience of making monthly payments, a 1.5% additional processing fee will be charged toward the unpaid balance beginning with the third monthly installment. Formula:Total Due – financial aid = balance dueBalance due ÷ 5 payments (3 for summer) = amount of 1st paymentRemaining original balance due + additional charges since first payment ÷ 4 (# of payments remaining) = amount of 2nd paymentRemaining balance due + additional charges x 1.5% ÷ 3 = amount of 3rd payment, and so on for 4th and final payments 

UCM payment plan

How Can I See My Financial Aid?

• By email and mail– Most correspondence is via UCM email account

• MyCentral portal– Student only access with 700#– Reset of password via our help desk

• Other FAQs are on www.ucmo.edu/contactsfs

What if I haven’t seen our aid yet?

• We haven’t received your FAFSA• FAFSA is rejected– Most common issues are signatures, selective

service or missing information• Verification has not been completed• Check status via MyCentral

When will we get our bill?

• Statement includes– Class fees/tuition– Housing/meal charges– Books– Financial Aid credits

• Bills available online – www.mycentral.ucmo.edu– Click on view and pay my bill on the Student Services Tab

New Student Fee

on September bill

When will we get our bill?

• July 23 - Fall semester bills will be printed and available in the MyCentral Billing and Payment Center

• August 20 – Payment for the “Amount Due” after aid is applied – in full or 20% of “Amount Due” balance

Amount Due

Online Account Access

• Set up bank account info for payments and refunds

• Direct deposit – If students choose to not use direct deposit,

please note that checks are run on a specific schedule and funds are mailed to the permanent address

Online Billing

• Review your bill• Make single immediate payment• Schedule future payments• Set up personal profile and authorized users• Students will receive only one paper bill per

semester

Viewing the Bill

Setting Up Text Alerts

Authorized user

Important Information

• Most aid is based on full time enrollment (12 or more hours), if you drop below 12 hours some aid may be prorated or cancelled.– State aid and scholarships are based on full time– Pell grant is prorated

• Before you drop a class, talk to SFS and your academic advisor

Central One Card• Anyone with a valid UCM ID card can choose to use it as a

debit card on campus– Central Cash– Bookstore– Meal points and meal plans

• Access to the following– Library card– Home sporting events– SGA Voting– Planner-Handbook distribution

• Not required to get your FA refund!

Contact SFS• Located in Ward Edwards Room 1100• Hours are 8-5 Monday-Friday during the school

year and 7:30-4:30 in the summer• Phone 660-543-8266 or 1-800-SAY-UCM– Fax 660-543-8080

• Other services– Budgeting assistance– Financial literacy– Notary